Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 08, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | UCFC | ||
Entity Registrant Name | UNITED COMMUNITY FINANCIAL CORP | ||
Entity Central Index Key | 707,886 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 49,697,647 | ||
Entity Public Float | $ 273.7 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Cash and deposits with banks | $ 27,690 | $ 20,528 |
Federal funds sold | 18,197 | 15,382 |
Total cash and cash equivalents | 45,887 | 35,910 |
Securities: | ||
Available for sale, at fair value | 343,284 | 357,670 |
Held to maturity (fair value of $96,150 and $109,644, respectively) | 97,519 | 110,699 |
Loans held for sale, at lower of cost or market | 165 | 9,085 |
Loans held for sale, at fair value | 62,593 | 26,716 |
Loans, net of allowance for loan losses of $19,087 and $17,712 | 1,503,577 | 1,316,192 |
Federal Home Loan Bank stock, at cost | 18,068 | 18,068 |
Premises and equipment, net | 20,963 | 20,678 |
Accrued interest receivable | 6,900 | 5,978 |
Real estate owned and other repossessed assets, net | 1,777 | 2,727 |
Goodwill | 208 | |
Customer list intangible | 1,356 | |
Core deposit intangible | 5 | 30 |
Cash surrender value of life insurance | 55,861 | 54,366 |
Other assets | 33,182 | 29,870 |
Total assets | 2,191,345 | 1,987,989 |
Deposits: | ||
Interest bearing | 1,258,073 | 1,208,238 |
Non-interest bearing | 256,918 | 227,505 |
Total deposits | 1,514,991 | 1,435,743 |
Federal Home Loan Bank advances | ||
Long-term Federal Home Loan Bank advances | 47,756 | 46,975 |
Short-term Federal Home Loan Bank advances | 343,000 | 232,000 |
Total Federal Home Loan Bank advances | 390,756 | 278,975 |
Other borrowed funds | 512 | 535 |
Total borrowed funds | 391,268 | 279,510 |
Advance payments by borrowers for taxes and insurance | 23,812 | 21,174 |
Accrued interest payable | 145 | 53 |
Accrued expenses and other liabilities | 11,323 | 7,264 |
Total liabilities | 1,941,539 | 1,743,744 |
Commitments and contingent liabilities (Note 5 and Note 13) | ||
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 46,581,370 and 47,517,644 shares, respectively, outstanding | 174,360 | 174,304 |
Retained earnings | 152,675 | 140,819 |
Accumulated other comprehensive loss | (21,040) | (19,220) |
Treasury stock, at cost, 7,557,540 and 6,621,266 shares, respectively | (56,189) | (51,658) |
Total shareholders’ equity | 249,806 | 244,245 |
Total liabilities and shareholders’ equity | $ 2,191,345 | $ 1,987,989 |
CONSOLIDATED STATEMENTS OF FIN3
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement Of Financial Position [Abstract] | ||
Held to maturity, Fair Value | $ 96,150 | $ 109,644 |
Allowance for loan losses | $ 19,087 | $ 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 | 46,581,370 | 47,517,644 |
Treasury stock, shares | 7,557,540 | 6,621,266 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income | |||
Loans | $ 57,903 | $ 52,619 | $ 49,559 |
Loans held for sale | 1,755 | 1,396 | 454 |
Securities available for sale, nontaxable | 1,129 | 35 | |
Securities available for sale, taxable | 6,915 | 10,141 | 12,314 |
Securities held to maturity, nontaxable | 248 | 96 | |
Securities held to maturity, taxable | 1,989 | 590 | |
Federal Home Loan Bank stock dividends | 723 | 723 | 859 |
Other interest earning assets | 67 | 35 | 58 |
Total interest income | 70,729 | 65,635 | 63,244 |
Interest expense | |||
Deposits | 5,922 | 6,526 | 6,435 |
Federal Home Loan Bank advances | 2,486 | 1,334 | 2,022 |
Repurchase agreements and other | 20 | 1,253 | 3,368 |
Total interest expense | 8,428 | 9,113 | 11,825 |
Net interest income | 62,301 | 56,522 | 51,419 |
Provision (recovery) for loan losses | 5,387 | 2,135 | (1,271) |
Net interest income after provision for loan losses | 56,914 | 54,387 | 52,690 |
Non-interest income | |||
Insurance agency income | 1,686 | ||
Non-deposit investment income | 1,281 | 1,115 | 1,415 |
Deposit related fees | 5,486 | 5,384 | 4,901 |
Mortgage servicing fees | 2,833 | 2,730 | 2,737 |
Mortgage servicing rights valuation | 39 | 19 | (58) |
Mortgage servicing rights amortization | (2,094) | (1,800) | (1,687) |
Other service fees | 135 | 75 | 20 |
Net gains (losses): | |||
Securities available for sale (includes $604, $142 and $444, respectively, accumulated other comprehensive income reclassifications for unrealized net gains on available for sale securities) | 604 | 142 | 444 |
Mortgage banking income | 6,444 | 6,841 | 1,570 |
Real estate owned and other repossessed assets, net | (93) | (445) | (800) |
Debit/credit card fees | 3,846 | 3,684 | 3,354 |
Other income | 1,909 | 1,972 | 1,845 |
Total non-interest income | 22,076 | 19,717 | 13,741 |
Non-interest expense | |||
Salaries and employee benefits (includes $1,278, $315 and $220, respectively accumulated other comprehensive income reclassifications for prior service credit on the postretirement plan). | 28,600 | 26,724 | 29,546 |
Occupancy | 3,373 | 3,249 | 3,469 |
Equipment and data processing | 7,564 | 6,865 | 7,470 |
Financial institutions tax | 1,694 | 1,241 | 795 |
Advertising | 845 | 737 | 838 |
Amortization of intangible assets | 69 | 54 | 68 |
FDIC insurance premiums | 940 | 1,241 | 1,216 |
Other insurance premiums | 328 | 355 | 495 |
Legal and consulting fees | 953 | 1,227 | 607 |
Other professional fees | 1,046 | 1,733 | 1,945 |
Prepayment penalty | 1,280 | 3,409 | |
Real estate owned and other repossessed asset expenses | 191 | 338 | 631 |
Merger related expenses | 787 | ||
Other expenses | 5,629 | 4,885 | 5,471 |
Total non-interest expenses | 52,019 | 49,929 | 55,960 |
Income before income taxes | 26,971 | 24,175 | 10,471 |
Income tax (benefit) expense (includes $147, $160 and $232 income tax expense from reclassification items) | 8,143 | 7,893 | (39,735) |
Earnings available to common shareholders | 18,828 | 16,282 | 50,206 |
Net income | 18,828 | 16,282 | 50,206 |
Other comprehensive income (loss) | |||
Unrealized gains (losses) on securities available for sale, net of reclassifications and tax of $(344), $444 and $11,814, respectively | (638) | 824 | 21,940 |
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, net of tax of $86, $21, and $0, respectively | 160 | 39 | |
Unrealized gains (losses) and amortization of prior service credit on postretirement plan, net of tax of $(447), $(46) and $(147), respectively | (831) | (85) | (273) |
Reversal of disproportionate tax effect from postretirement plan upon settlement | (511) | ||
Total other comprehensive income (loss) | (1,820) | 778 | 21,667 |
Comprehensive income | $ 17,008 | $ 17,060 | $ 71,873 |
Earnings per share | |||
Basic | $ 0.40 | $ 0.34 | $ 1 |
Diluted | $ 0.40 | $ 0.34 | $ 1 |
CONSOLIDATED STATEMENTS OF OPE5
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||
Accumulated other comprehensive income | $ 604 | $ 142 | $ 444 |
Accumulated other comprehensive income reclassification for prior service credit on the postretirement plan | 1,278 | 315 | 220 |
Income tax expense from reclassification items | 147 | 160 | 232 |
Unrealized gains (losses) on securities available for sale, net of reclassifications, tax | (344) | 444 | 11,814 |
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, tax | 86 | 21 | 0 |
Unrealized gains (losses) and amortization of prior service credit on postretirement plan, tax | $ (447) | $ (46) | $ (147) |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2013 | $ 175,074 | $ 174,719 | $ 81,515 | $ (41,665) | $ (39,495) |
Balance, shares at Dec. 31, 2013 | 50,339,089 | ||||
Net income | 50,206 | 50,206 | |||
Other comprehensive income (loss) | 21,667 | 21,667 | |||
Stock option exercises, value | 172 | (701) | 873 | ||
Stock option exercises, shares | 85,000 | ||||
Stock option expense | 25 | $ 25 | |||
Restricted stock grants, value | $ (988) | (1,640) | 2,628 | ||
Restricted stock grants, shares | 254,541 | ||||
Restricted stock forfeitures, value | (101) | $ 147 | 133 | (381) | |
Restricted stock forfeitures, shares | (76,126) | ||||
Restricted stock expense | 482 | $ 482 | |||
Cash dividend payments | (1,001) | (1,001) | |||
Treasury stock purchases | (6,389) | (6,389) | |||
Treasury stock purchases, shares | (1,363,500) | ||||
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 | 16,282 | 16,282 | |||
Other comprehensive income (loss) | 778 | 778 | |||
Stock option exercises, value | 28 | (95) | 123 | ||
Stock option exercises, shares | 14,200 | ||||
Stock option expense | 24 | $ 24 | |||
Restricted stock grants, value | $ (867) | (524) | 1,391 | ||
Restricted stock grants, shares | 162,711 | ||||
Restricted stock forfeitures, value | (56) | $ 6 | 13 | (75) | |
Restricted stock forfeitures, shares | (11,954) | ||||
Restricted stock expense | 756 | $ 756 | |||
Cash dividend payments | (3,369) | (3,369) | |||
Treasury stock purchases | (10,333) | (10,333) | |||
Treasury stock purchases, shares | (1,886,317) | ||||
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 | 18,828 | 18,828 | |||
Other comprehensive income (loss) | (1,820) | (1,820) | |||
Stock option exercises, value | $ 517 | (983) | 1,500 | ||
Stock option exercises, shares | 199,905 | 199,905 | |||
Stock option expense | $ 9 | $ 9 | |||
Restricted stock grants, value | $ (1,214) | (330) | 1,544 | ||
Restricted stock grants, shares | 200,856 | ||||
Restricted stock forfeitures, value | $ 13 | 14 | (27) | ||
Restricted stock forfeitures, shares | (2,928) | ||||
Restricted stock expense | 970 | $ 970 | |||
Tax benefit of stock option exercises and restricted stock vesting | 278 | $ 278 | |||
Purchase of James & Sons Insurance | 1,547 | (501) | 2,048 | ||
Purchase of James & Sons Insurance, shares | 262,705 | ||||
Cash dividend payments | (5,172) | (5,172) | |||
Treasury stock purchases | (9,596) | (9,596) | |||
Treasury stock purchases, shares | (1,596,812) | ||||
Balance at Dec. 31, 2016 | $ 249,806 | $ 174,360 | $ 152,675 | $ (21,040) | $ (56,189) |
Balance, shares at Dec. 31, 2016 | 46,581,370 |
CONSOLIDATED STATEMENTS OF SHA7
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement Of Stockholders Equity [Abstract] | |||
Cash dividend payments, per share | $ 0.11 | $ 0.07 | $ 0.02 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash Flows from Operating Activities | |||
Net income | $ 18,828 | $ 16,282 | $ 50,206 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Provision (recovery) for loan losses | 5,387 | 2,135 | (1,271) |
Mortgage banking income | (8,213) | (5,322) | (1,570) |
Changes in fair value on loans held for sale | 1,769 | (1,519) | |
Net losses on real estate owned and other repossessed assets sold | 93 | 445 | 800 |
Net gain on available for sale securities sold | (604) | (142) | (444) |
Net loss (gain) on other assets sold | 6 | (21) | 18 |
Amortization of premiums and accretion of discounts | 6,686 | 5,849 | 822 |
Depreciation and amortization | 2,315 | 2,119 | 1,997 |
Net change in interest receivable | (922) | (215) | (69) |
Net change in interest payable | 92 | (132) | (365) |
Net change in prepaid and other assets | (5,603) | (572) | 3,015 |
Net change in other liabilities | 4,059 | (1,529) | (1,098) |
Stock based compensation | 979 | 780 | 406 |
Excess tax benefit of stock option exercises and restricted stock vesting | 278 | ||
Net principal disbursed on loans originated for sale | (285,577) | (215,026) | (155,577) |
Proceeds from sale of loans held for sale | 262,586 | 204,845 | 141,255 |
Net change in deferred tax assets | 7,843 | 7,316 | (39,824) |
Cash surrender value increase of life insurance and death proceeds in excess of cash surrender value | (1,495) | (1,720) | (1,429) |
Net change in interest rate caps | 3 | 177 | 366 |
Net cash from operating activities | 8,510 | 13,750 | (2,762) |
Cash Flows from Investing Activities | |||
Proceeds from the principal repayments and maturities of securities available for sale | 26,981 | 31,066 | 27,878 |
Proceeds from the principal repayments and maturities of securities held to maturity | 15,781 | 3,311 | |
Proceeds from the sale of securities available for sale | 33,701 | 16,627 | 14,595 |
Proceeds from the sale of real estate owned and other repossessed assets | 1,828 | 2,559 | 4,056 |
Proceeds from the sale of loans held for investment | 1 | 514 | 1,081 |
Proceeds from the sale of premises and equipment | 2 | 154 | 30 |
Purchases of securities available for sale | (48,985) | (10,865) | |
Purchases of securities held to maturity | (3,200) | (10,390) | |
Purchase of bank-owned life insurance | (7,000) | ||
Purchases of premises and equipment | (2,575) | (1,895) | (2,091) |
Principal disbursed on loans, net of repayments | (156,475) | (157,982) | (120,175) |
Loans purchased | (44,311) | (15,154) | (146) |
Net cash received in acquisition | 107 | ||
Redemption of FHLB stock | 8,396 | ||
Death benefit proceeds from bank owned life insurance | 755 | ||
Net cash from investing activities | (177,145) | (148,300) | (66,376) |
Cash Flows from Financing Activities | |||
Net increase in checking, savings and money market accounts | 45,782 | 68,247 | 13,055 |
Net increase (decrease) in certificates of deposit | 33,466 | 19,660 | (56,971) |
Net increase (decrease) in advance payments by borrowers for taxes and insurance | 2,638 | 1,270 | (156) |
Net change in Federal Home Loan Bank overnight advances | 111,000 | 92,000 | 140,000 |
Net change in repurchase agreements and other borrowed funds | (23) | (30,023) | (60,020) |
Prepayment penalty on Federal Home Loan Bank advances | (3,903) | ||
Proceeds from the exercise of stock options | 517 | 28 | 172 |
Dividends paid | (5,172) | (3,369) | (1,001) |
Purchase of treasury stock | (9,596) | (10,333) | (6,389) |
Net cash from financing activities | 178,612 | 137,480 | 24,787 |
Change in cash and cash equivalents | 9,977 | 2,930 | (44,351) |
Cash and cash equivalents, beginning of period | 35,910 | 32,980 | 77,331 |
Cash and cash equivalents, end of period | $ 45,887 | $ 35,910 | $ 32,980 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. Summary of Significant Accounting Policies The accounting policies of United Community Financial Corp. (United Community or the Company) and its subsidiaries, The Home Savings and Loan Company of Youngstown, Ohio (Home Savings or the Bank), HSB Insurance, LLC and HSB Capital, LLC conform to U.S. Generally Accepted Accounting Principles (GAAP) and prevailing practices within the banking and thrift industries. A summary of the more significant accounting policies follows. Nature of Operations The business of Home Savings is providing consumer and business banking service to its market area in Ohio, western Pennsylvania and West Virginia. At the end of 2016, Home Savings was doing business through 31 full service banking branches and 12 loan production centers. Loans and deposits are primarily generated from the areas where banking branches are located. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the market area. Home Savings derives its income predominantly from interest on loans, securities, and to a lesser extent, non-interest income. Home Savings’ principal expenses are interest paid on deposits and Federal Home Loan Bank advances, loan loss provisions and normal operating costs. HSB Insurance, LLC d/b/a James & Sons Insurance is an insurance agency that offers a wide variety of insurance products for business and residential customers, which include, auto, homeowners, life-health, commercial, surety bonds, and aviation. HSB Capital, LLC was formed by United Community during 2016 for the purpose of providing mezzanine funding for customers. Mezzanine loans are offered to customers in United Community’s market area and are expected to be repaid from the cash flow from operations of businesses. Basis of Presentation The consolidated financial statements include the accounts of United Community and its subsidiaries. All material inter-company transactions have been eliminated. Certain prior period data has been reclassified to conform to current period presentation. These reclassifications had no effect on prior net income or shareholders’ equity . Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ. Cash Flows For purposes of the statement of cash flows, United Community considers all highly liquid investments with a term of three months or less to be cash equivalents. Net cash flows are reported for loan and deposit transactions, short-term borrowings and advance payments by borrowers for taxes and insurance. Securities Securities are classified as available for sale, held to maturity or trading upon their acquisition. Securities are classified as available for sale when they might be sold before maturity. Securities classified as available for sale are carried at estimated fair value with the unrealized holding gain or loss reported in other comprehensive income, net of tax. Securities classified as held to maturity are carried at amortized cost when management has the positive intent and ability to hold them to maturity. Equity securities with readily determinable fair values are classified as available for sale. Restricted securities such as FHLB stock are carried at cost. Interest income includes amortization of purchase premium or discount on debt securities. Premiums or discounts are amortized on the level-yield method without anticipating prepayments. Gains and losses on sales are recorded on the trade date and are determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (OTTI) at least quarterly, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of OTTI is recognized through earnings. Loans Held for Sale Loans held for sale primarily consist of residential mortgage loans originated for sale and other loans that have been identified for sale. If the fair value option has not been elected, the loans are carried at the lower of cost or fair value, determined in the aggregate. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans held for sale, for which the fair value option has been elected, are recorded at fair value as of each balance sheet date with the change in fair value recorded in earnings. The fair value of the Company’s construction perm loans held for sale is 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. The fair value of conventional residential one-to four-family loans held for sale which the fair value option has been elected is determined based on quoted prices for similar loans in active markets. Beginning January 1, 2016, The Company elected the fair value option for almost all loans held for sale. Mortgage loans held for sale are sold with either servicing rights retained or servicing released. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the outstanding principal balance, net of purchase premiums or discounts, deferred loan fees and costs and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. Interest income includes amortization of net deferred loan fees and costs. Loan fees and costs associated with origination of loans are deferred and amortized to interest income over the contractual lives of the loans using the level yield method. Fees received for loan commitments that are expected to be drawn, based on Home Savings’ experience with similar commitments, are deferred and amortized over the lives of the loans using the level-yield method. Fees for other loan commitments are deferred and amortized over the loan commitment period on a straight-line basis. Unamortized deferred loan fees or costs related to loans paid off are included in income. Unamortized net fees or costs on loans sold are included in the basis of the loans in calculating gains and losses. The accrual of interest income and amortization of net deferred fees on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the loan is both well secured and in the process of collection. Consumer loans are typically charged-off no later than 180 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. All interest accrued but not received for a loan placed on nonaccrual is reversed against interest income. Once a loan is on nonaccrual, it will remain on nonaccrual until the loan becomes current and the borrower demonstrates the ability to pay the loan per the contractual terms for a minimum of six months. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when future payments are reasonably assured. Home Savings determines the past due status of loans based on the number of calendar months the loan is past due. Impaired loans consist of loans that are non-homogenous and in a nonaccrual status; loans considered troubled debt restructurings and loans that have been individually analyzed for impairment. Residential mortgage loans. Residential mortgage loans are revalued at the time they reach 180 days past due and any portion of the principal that exceeds the fair value is charged-off. Mortgage loans are considered to be homogenous until the loan is individually evaluated at 180 days past due and charged-down to the fair value of the underlying collateral, at which time the loan becomes non-homogenous and is considered impaired. Residential mortgage loans that have been modified and determined to be a troubled debt restructuring (TDR) are revalued based upon the present value of the modified cash flows of the loan to establish a specific reserve on that loan. Consumer loans. Consumer loans that are secured by residential real estate are revalued once they reach 180 days past due and charged-down to the fair value if necessary. Consumer loans that are not secured by residential real estate are revalued once they reach 120 days past due and are charged-down to the fair value if necessary. Consumer loans are considered to be homogenous until the loan is individually evaluated and charged-down to the fair value of the underlying collateral, at which time the loan becomes non-homogenous and is considered impaired. Consumer loans that have been modified and determined to be a TDR are revalued based upon the present value of the modified cash flows of the loan to establish a specific reserve on that loan. Commercial loans. A commercial real estate loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. At this time the loan is charged-down to the fair value. Commercial and industrial loans are impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The repayment of commercial loans typically is dependent on the income stream and successful operation of a business. If there is no underlying collateral to value, the company will calculate the present value of expected future cash flows to determine the amount of impairment, if any. Concentration of Credit Risk Most of the Company’s business activity is with customers located within Home Savings’ market area. Therefore, the Company’s exposure to credit risk is significantly affected by changes in the economy in Ohio, Western Pennsylvania and Northern West Virginia. Allowance for Loan Losses 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. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired or loans otherwise classified as substandard or doubtful. The general component covers non-classified loans and is based on historical loss experience adjusted for current factors. 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, looking back 18 quarters as of December 31, 2016. In determining the qualitative component, 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. The quantitative and qualitative components are combined to arrive at the loss factor, which is applied to the average outstanding balance of homogenous loans. At December 31, 2015, the Company evaluated 12 quarters of net charge-off history. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired loans are individually evaluated based on the borrower’s ability to repay the loan given the availability of collateral, other sources of cash flow and legal options available to Home Savings. Once a review is completed, a specific reserve is determined and allocated to the loan. These specific reserves on individual loans are reviewed periodically and adjusted as necessary based on subsequent collection, loan upgrades or downgrades, nonperforming trends or actual principal charge-offs. Loans for which the terms have been modified, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the facts and circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. Troubled debt restructurings (TDRs) are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDRs that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The Bank’s portfolio has the following segments: commercial, which includes commercial real estate secured loans, residential mortgage loans and consumer loans. Residential mortgage loans are made to customers in Home Savings’ market area. These loans are secured by the underlying real estate as collateral. Repayment of these loans is dependent on general economic conditions and unemployment levels in Home Savings’ market area. To reduce any risk on loans secured by one-to four-family residences, Home Savings underwrites all portfolio loans to Freddie Mac underwriting guidelines. Consumer loans primarily consist of home equity loans. Similar to residential mortgage loans, repayment of consumer loans depends on the general economic conditions and unemployment levels in Home Savings’ market area. The majority of Home Savings’ consumer loans consist of closed-end home equity loans in an amount that, when added to the prior indebtedness secured by the real estate, does not exceed 90% of the estimated value of the real estate. Other consumer loans, such as automobiles and recreational vehicles, have a higher degree of risk than home equity loans as the collateral depreciates at a faster rate. Multifamily and nonresidential real estate loans generally have a higher degree of risk than loans secured by one-to four-family residences. These riskier loans can be affected by economic conditions, operating expenses, debt service and successful operation of income-producing properties. Home Savings tries to reduce this risk by evaluating the credit history of the borrower, location of the real estate, the financial condition of the borrower, obtaining personal guarantees of the principals, the characteristics of the income stream generated by the property and the appraisal supporting the property. Commercial loans generally entail greater risk than real estate lending. The repayment of commercial loans typically is dependent on the income stream and successful operation of a business, which can be affected by economic conditions. The collateral for commercial loans, if any, often consists of rapidly depreciating assets. Construction loans involve a higher degree of underwriting and default risk than loans secured by mortgages on existing properties because construction loans are more difficult to appraise and to monitor. Loan funds are advanced based upon the status of the project under construction. Servicing Assets Servicing assets are recognized as separate assets when rights are acquired through the purchase or sale of financial assets. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Capitalized servicing rights are reported in other assets and are amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying assets. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as original maturity, interest rate and loan type. Impairment is recognized through a valuation allowance for an individual tranche. If Home Savings later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may be recorded as an increase to income. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of mortgage servicing rights is shown separately in non-interest income. Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Real Estate Owned and Other Repossessed Assets Real estate owned, including property acquired in settlement of foreclosed loans, is initially transferred at fair value less estimated cost to sell after foreclosure, establishing a new cost basis. Physical possession of residential real estate property collateralizing a residential mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines after acquisition, a valuation allowance is recorded through expense. Costs relating to the development and improvement of real estate owned are capitalized, whereas costs relating to holding and maintaining the properties are charged to expense. Other repossessed assets are carried at estimated fair value less estimated cost to sell after acquisition. Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation and amortization. Buildings and related components are depreciated and amortized using the straight-line method over the useful lives, generally ranging from 20 years to 40 years (or term of the lease, if shorter) of the related assets. Furniture and fixtures are depreciated using the straight-line method with useful lives ranging from three to five years. Federal Home Loan Bank (FHLB) stock The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Cash Surrender Value of Life Insurance Life insurance is carried on the lives of certain employees where Home Savings is the beneficiary. Life insurance is recorded at its cash surrender value, or the amount currently realizable. Increases in the Home Savings’ policy cash surrender value are tax exempt and death benefit proceeds received by Home Savings are tax-free. Income from these policies and changes in the cash surrender value are recorded in other income. The policies contain no split dollar or postretirement benefits for covered employees. Goodwill and other Intangible Assets Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interest in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually or more frequently if events and circumstances exists that indicate that a goodwill impairment test should be performed. The Company has selected December 31 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on our balance sheet. Other intangible assets consist of core deposit and customer list intangibles. Core deposit intangible assets arose from whole bank acquisitions. They were initially measured at fair value and are being amortized on an accelerated method over their estimated useful lives. Customer list intangible arose from the acquisition of James & Sons Insurance in January 2016 and will be amortized on an accelerated basis over its estimated useful life of 10 years. Derivatives At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand-alone derivative”). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For both types of hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in the fair values of these derivatives are included in mortgage banking income on the consolidated statements of operations and comprehensive income. Long-term Assets Premises and equipment and other long–term assets are reviewed for impairment when events indicate their carrying amounts may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. Stock Compensation Compensation cost is recognized for stock options and restricted stock awards issued to employees and nonemployee directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Corporation’s common shares at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax basis of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. 401(k) Savings Plan Employee 401(k) and profit sharing plan expense is the amount of matching contributions and administrative costs to administer the plan. Postretirement Benefit Plans In addition to Home Savings’ retirement plans, Home Savings sponsors a defined benefit health care plan that was curtailed in 2000 to provide postretirement medical benefits for employees who worked 20 years and attained a minimum age of 60 by September 1, 2000, while in service with Home Savings. That modified plan was further curtailed in 2015, and medical benefits are no longer provided to plan participants as of December 31, 2016 and the plan was terminated and settled. The plan is unfunded and, as such, has no assets. Furthermore, the plan is contributory and contains minor cost-sharing features such as deductibles and coinsurance. In addition, postretirement life insurance coverage is provided for employees who were partici |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 2. SUBSEQUENT EVENTS On January 31, 2017, United Community completed its acquisition of Ohio Legacy Corp. (“OLCB”) pursuant to the terms and conditions of the Agreement and Plan of Merger, dated as of September 8, 2016. Pursuant to the terms of the Merger Agreement, OLCB was merged with and into United Community. Immediately following the Merger, Home Savings was merged with and into Premier Bank & Trust, a subsidiary of OLCB, and changed its name to Home Savings Bank. As a result of the Merger and in accordance with the terms of the Merger Agreement, each preferred shareholder of OLCB was deemed to have been converted into OLCB common shares. Each OLCB common share was converted into the right to receive either $18.00 in cash or 2.736 United Community common shares, subject to certain allocation procedures set forth in the Merger Agreement that ensured that 50% of OLCB’s common shares outstanding were converted into United Community common shares and 50% of OLCB’s common shares outstanding received the cash consideration. The Company issued cash in lieu of issuing fractional shares. After the allocation procedures are applied to the elections and non-election shares as described above, the Company issued 3,033,604 United Community common shares and paid $19,958,724 to OLCB shareholders as a result of the Merger. Acquisition related costs aggregating $787,000 were included in United Community’s Consolidated Statements of Operations for the year ended December 31, 2016. The fair value of the common shares issued as part of the consideration paid for OLCB was determined in the basis of the closing price of United Community’s commons shares on the acquisition date. The following table summarizes the consideration paid for OLCB. (in thousands) Cash $ 19,959 United Community shares issued 25,816 Total fair value of consideration paid $ 45,775 Goodwill is expected to be recorded arising from the acquisition consisted largely of synergies and the cost savings resulting from combining the operations of the companies. No goodwill is expected to be deductible for income tax purposes. The fair value of assets acquired and liabilities assumed will be recorded at fair value; however such valuations are in process at the date of the financial statements. At the acquisition date, United Community added total assets of $347.7 million (unaudited), including total loans of $261.4 million (unaudited), total deposits of $266.2 million (unaudited) and total equity of $45.8 million (unaudited) to the Company’s consolidated statements of financial position. At the time of the closing, Home Savings charter changed to a state chartered commercial bank and United Community became a financial services holding company. |
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS | 12 Months Ended |
Dec. 31, 2016 | |
Cash And Cash Equivalents [Abstract] | |
CASH AND CASH EQUIVALENTS | 3. CASH AND CASH EQUIVALENTS Federal Reserve Board (FRB) regulations require depository institutions to maintain certain non-interest bearing reserve balances. These reserves, which consisted of vault cash at Home Savings, totaled approximately $11.2 million and $10.9 million at December 31, 2016 and 2015, respectively. |
SECURITIES
SECURITIES | 12 Months Ended |
Dec. 31, 2016 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES | 4. SECURITIES The components of securities available for sale are as follows: December 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 $ 188,082 $ 172 $ (2,221 ) $ 186,033 States of the U.S. and political subdivisions 59,415 3 (1,661 ) 57,757 Mortgage-backed GSE securities: residential 100,602 50 (1,158 ) 99,494 Total $ 348,099 $ 225 $ (5,040 ) $ 343,284 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 The components of securities held to maturity are as follows: December 31, 2016 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed GSE securities: residential $ 85,065 $ — $ (1,300 ) $ 83,765 States of the U.S. and political subdivisions 12,454 17 (86 ) 12,385 Total $ 97,519 $ 17 $ (1,386 ) $ 96,150 December 31, 2015 Gross Gross Amortized unrealized unrealized 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: December 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 188,499 186,446 Due after ten years 58,998 57,344 Mortgage-backed GSE securities: residential 100,602 99,494 Total $ 348,099 $ 343,284 Debt securities held to maturity by contractual maturity, repricing or expected call date are shown below: December 31, 2016 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ 3,200 $ 3,210 Due after one year through five years — — Due after five years through ten years 4,760 4,722 Due after ten years 4,494 4,453 Mortgage-backed GSE securities: residential 85,065 83,765 Total $ 97,519 $ 96,150 Proceeds, gross realized gains, losses and impairment charges of available for sale securities were as follows: 2016 2015 2014 (Dollars in thousands) Proceeds $ 33,701 $ 16,627 $ 14,595 Gross gains 604 142 444 Gross losses — — — Income tax expense related to net realized gains and losses was $211,000 for 2016 and $50,000 for 2015 and $155,000 for 2014. Securities pledged for participation in the Ohio Linked Deposit Program were $605,000 and approximately $0 at December 31, 2016 and 2015, respectively. See further discussion regarding pledged securities in Note 12. 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 at December 31, 2016: Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized loss value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ 171,411 $ (2,221 ) $ — $ — $ 171,411 $ (2,221 ) States of the U.S. and political subdivisions 53,283 (1,661 ) — — 53,283 (1,661 ) Mortgage-backed GSE securities: residential 98,775 (1,158 ) — — 98,775 (1,158 ) Total temporarily impaired securities $ 323,469 $ (5,040 ) $ — $ — $ 323,469 $ (5,040 ) All of the U.S. Treasury and government sponsored entities and mortgage-backed securities that were temporarily impaired at December 31, 2016, were impaired due to the level of interest rates at that time compared to when securities were purchased. Unrealized losses on these securities have not been recognized into income as of December 31, 2016 because the issuer’s securities are of high credit quality (rated AA or higher), management does not intend to sell, and 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. At December 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 compared to when the securities were purchased. Unrealized losses on these securities have not been recognized into income as of December 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. 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 at December 31, 2015: Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized loss value Loss value Loss value Loss (Dollars in thousands) Description of securities: 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 ) During the third quarter of 2015, Home Savings transferred mortgage-backed GSE securities 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. The remaining unaccreted unrealized holding loss totaled $1,230,000 at December 31, 2016 and $1,477,000 at December 31, 2015. Because of this transfer, the total losses less than 12 months and greater than 12 months reported in the table below 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. Securities held to maturity that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows at December 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 $ 57,340 $ (1,243 ) $ 26,426 $ (1,287 ) $ 83,766 $ (2,530 ) States of the U.S. and political subdivisions 7,416 (86 ) — — 7,416 (86 ) Total temporarily impaired securities $ 64,756 $ (1,329 ) $ 26,426 $ (1,287 ) $ 91,182 $ (2,616 ) All of the mortgage-backed securities that were temporarily impaired at December 31, 2016, were impaired due to the level of interest rates at that time compared to when the securities were purchased. Unrealized losses on these securities have not been recognized into income as of December 31, 2016 because the issuer’s securities are of high credit quality (rated AA or higher), management does not intend to sell, and 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. At December 31 2016, all of the obligations of U.S. states and political subdivisions were impaired due to the level of interest rates at that time compared to when the securities were purchased. Unrealized losses on these securities have not been recognized into income as of December 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. Securities held to maturity that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows at 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 ) Total temporarily impaired securities $ 22,723 $ (289 ) $ 76,396 $ (2,390 ) $ 99,119 $ (2,679 ) |
LOANS
LOANS | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
LOANS | 5. LOANS Portfolio loans consist of the following: December 31, December 31, 2016 2015 (Dollars in thousands) Commercial loans Multifamily $ 93,597 $ 80,170 Nonresidential 231,401 175,456 Land 8,373 9,301 Construction 68,158 38,812 Secured 95,343 63,182 Unsecured 7,386 2,831 Total commercial loans 504,258 369,752 Residential mortgage loans One-to four-family 762,926 733,685 Construction 35,695 40,898 Total residential mortgage loans 798,621 774,583 Consumer loans Home equity 165,054 161,338 Auto 39,609 11,348 Marine 1,796 2,699 Recreational vehicle 7,602 10,656 Other 2,537 2,217 Total consumer loans 216,598 188,258 Total loans 1,519,477 1,332,593 Less: Allowance for loan losses 19,087 17,712 Deferred loan fees, net (3,187 ) (1,311 ) Total 15,900 16,401 Loans, net $ 1,503,577 $ 1,316,192 Loan commitments are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses, may require payment of a fee and may expire unused. Commitments to extend credit at fixed rates expose Home Savings to some degree of interest rate risk. Home Savings evaluates each customer’s creditworthiness on a case-by-case basis. The type or amount of collateral obtained varies and is based on management’s credit evaluation of the potential borrower. Home Savings normally has a number of outstanding commitments to extend credit. December 31, 2016 2015 Fixed Rate Variable Rate Fixed Rate Variable Rate (Dollars in thousands) Commitments to make loans $ 74,927 $ 40,908 $ 44,957 $ 33,384 Undisbursed loans in process 5,450 130,566 674 111,738 Unused lines of credit 8,538 156,032 10,162 115,812 Terms of the commitments in both years extend up to six months, but are generally less than two months. The fixed rate loan commitments have interest rates ranging from 2.75% to 18.00%; and maturities ranging from three months to thirty years. Commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third party investors are considered derivatives. It is the Company’s practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. These mortgage banking derivatives are not designated as hedge relationships. At December 31, 2016 and 2015, there were $1.0 million and $474,000 of outstanding standby letters of credit, respectively. These are issued to guarantee the performance of a customer to a third party. Standby letters of credit are generally contingent upon the failure of the customer to perform according to the terms of an underlying contract with the third party. At December 31, 2016 and 2015, there were $50.5 million and $46.1 million in outstanding commitments to fund the OverdraftPrivilege™ Program at Home Savings. With OverdraftPrivilege™, Home Savings pays non-sufficient funds checks and fees on checking accounts up to a preapproved limit. The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2016 and December 31, 2015 and activity for the years ended December 31, 2016, 2015 and 2014. Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) 2016 Beginning balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 Provision 5,611 (464 ) 240 5,387 Charge-offs (3,722 ) (761 ) (1,151 ) (5,634 ) Recoveries 858 133 631 1,622 Ending balance $ 10,824 $ 5,538 $ 2,725 $ 19,087 Period-end amount allocated to: Loans individually evaluated for impairment $ 1,271 $ 1,245 $ 500 $ 3,016 Loans collectively evaluated for impairment 9,553 4,293 2,225 16,071 Ending balance $ 10,824 $ 5,538 $ 2,725 $ 19,087 Period-end balances: Loans individually evaluated for impairment $ 6,018 $ 17,485 $ 8,045 $ 31,548 Loans collectively evaluated for impairment 498,240 781,136 208,553 1,487,929 Ending balance $ 504,258 $ 798,621 $ 216,598 $ 1,519,477 Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) 2015 Beginning balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 Provision 2,922 (974 ) 187 2,135 Charge-offs (1,268 ) (1,301 ) (1,257 ) (3,826 ) Recoveries 733 388 595 1,716 Ending balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 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 Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) 2014 Beginning balance $ 6,984 $ 9,830 $ 4,302 $ 21,116 Provision (649 ) (550 ) (72 ) (1,271 ) Charge-offs (1,656 ) (1,005 ) (1,578 ) (4,239 ) Recoveries 1,011 242 828 2,081 Ending balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 The unpaid principal balance is the total amount of the loan that is due to the Company. The recorded investment includes the unpaid principal balance less any chargeoffs or partial chargeoffs applied to specific loans. The unpaid principal balance and the recorded investment both exclude accrued interest receivable and deferred loan costs, both of which are immaterial. The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required based on an analysis using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations, estimated collateral values, general economic conditions in the market area and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged-off. Other loans not reviewed specifically by management are evaluated as a homogenous group of loans (generally single-family residential mortgage loans and all consumer credits except marine loans) using a loss factor applied to the outstanding loan balance to determine the level of reserve required. This loss factor consists of two components, a quantitative and a qualitative component. The quantitative component is based on a historical analysis of all charged-off loans, net of recoveries, looking back 18 quarters as of December 31, 2016. In determining the qualitative component, 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. The quantitative and qualitative components are combined to arrive at the loss factor, which is applied to the average outstanding balance of homogenous loans. At December 31, 2015, the Company evaluated 12 quarters of net charge-off history. The following table presents loans individually evaluated for impairment by class of loans for the year ended December 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 $ 55 $ — $ — $ — $ — $ — Nonresidential 2,278 1,489 — 544 102 101 Land 3,922 34 — 234 — — Construction 3,594 — — - — — Secured 242 190 — 2,823 — — Unsecured 713 — — — 7 7 Total commercial loans 10,804 1,713 — 3,601 109 108 Residential mortgage loans One-to four-family 8,736 6,758 — 6,272 195 177 Construction — — — — — — Total residential mortgage loans 8,736 6,758 — 6,272 195 177 Consumer loans Home equity 2,159 1,583 — 1,382 66 64 Auto 11 3 — 7 — — Marine 585 267 — 293 1 1 Recreational vehicle 433 120 — 251 13 13 Other — — — 2 1 1 Total consumer loans 3,188 1,973 — 1,935 81 79 Total $ 22,728 $ 10,444 $ — $ 11,808 $ 385 $ 364 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential 6,930 4,133 1,193 7,698 143 142 Land — — — — — — Construction — — — — — — Secured 237 172 78 654 — — Unsecured — — — — — — Total commercial loans 7,167 4,305 1,271 8,352 143 142 Residential mortgage loans One-to four-family 10,810 10,727 1,245 11,898 497 457 Construction — — — — — — Total residential mortgage loans 10,810 10,727 1,245 11,898 497 457 Consumer loans Home equity 5,390 5,335 426 6,117 310 293 Auto — — — — — — Marine 108 108 1 144 6 6 Recreational vehicle 639 629 73 691 26 26 Other — — — — — — Total consumer loans 6,137 6,072 500 6,952 342 325 Total 24,114 21,104 3,016 27,202 982 924 Total impaired loans $ 46,842 $ 31,548 $ 3,016 $ 39,010 $ 1,367 $ 1,288 The following table presents loans individually evaluated for impairment by class of loans as of and for the year ended December 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 $ 165 $ — $ — $ 21 $ 4 $ 4 Nonresidential 1,215 306 — 1,389 6 6 Land 3,922 384 — 474 — — Construction 3,593 — — 69 — — Secured 3,884 3,700 — 3,700 — — Unsecured 1,132 — — — — — Total commercial loans 13,911 4,390 — 5,653 10 10 Residential mortgage loans One-to four-family 7,607 5,866 — 4,710 156 149 Construction — — — — — — Total residential mortgage loans 7,607 5,866 — 4,710 156 149 Consumer loans Home equity 2,245 1,718 — 1,491 31 29 Auto 20 14 — 22 — — Marine 496 271 — 280 2 2 Recreational vehicle 121 78 — 70 4 4 Other 3 3 — 1 — — Total consumer loans 2,885 2,084 — 1,864 37 35 Total $ 24,403 $ 12,340 $ — $ 12,227 $ 203 $ 194 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ 21 $ — $ — Nonresidential 5,164 4,984 565 5,659 119 117 Land — — — — — — Construction — — — 379 — — Secured 324 324 3 324 — — Unsecured — — — — — — Total commercial loans 5,488 5,308 568 6,383 119 117 Residential mortgage loans One-to four-family 13,482 13,482 1,541 14,324 592 539 Construction — — — — — — Total residential mortgage loans 13,482 13,482 1,541 14,324 592 539 Consumer loans Home equity 7,236 7,236 522 8,346 402 381 Auto — — — 2 — — Marine 163 163 3 41 7 7 Recreational vehicle 1,122 1,122 181 783 33 33 Other 8 8 1 2 1 1 Total consumer loans 8,529 8,529 707 9,174 443 422 Total 27,499 27,319 2,816 29,881 1,154 1,078 Total impaired loans $ 51,902 $ 39,659 $ 2,816 $ 42,108 $ 1,357 $ 1,272 The following table presents loans individually evaluated for impairment by class of loans for the year ended December 31, 2014: Impaired Loans (Dollars in thousands) Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 87 $ — $ — Nonresidential 4,248 260 256 Land 521 — — Construction 552 — — Secured 3,706 — — Unsecured — — — Total commercial loans 9,114 260 256 Residential mortgage loans One-to four-family 5,287 83 77 Construction — — — Total residential mortgage loans 5,287 83 77 Consumer loans Home equity 1,757 29 29 Auto 66 1 1 Marine 155 — — Recreational vehicle 181 4 3 Other 3 — — Total consumer loans 2,162 34 33 Total $ 16,563 $ 377 $ 366 With a specific allowance recorded Commercial loans Multifamily $ 293 $ — $ — Nonresidential 2,408 — — Land — — — Construction 1,682 — — Secured 324 — — Unsecured — — — Total commercial loans 4,707 — — Residential mortgage loans One-to four-family 15,039 607 561 Construction — — — Total residential mortgage loans 15,039 607 561 Consumer loans Home equity 10,007 494 470 Auto 8 — — Marine — — — Recreational vehicle 765 24 23 Other — — — Total consumer loans 10,780 518 493 Total 30,526 1,125 1,054 Total impaired loans $ 47,089 $ 1,502 $ 1,420 Within secured and nonresidential impaired loans, there are two related credits with a total principal balance outstanding of $7.0 million as of December 31, 2015. 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 in 2015. In 2016, this relationship was reclassified as a nonperforming asset within other assets and is no longer included in loan balances. Home Savings believes that the asset that remains no longer represents a loan. Other than the funds held in the Receiver Estate, there are no additional assets to which Home Savings can assert a claim against as the corporate borrowers have been liquidated and dissolved, and the individual guarantors have no remaining assets. The Trial Court’s order directs the Receiver to distribute the funds to Home Savings, and found that Home Savings is entitled to 100% of the proceeds from the sale of the properties. As a result, it is most appropriate to categorize these proceeds as a nonperforming “other asset” identified as a current receivable from the court. The Company 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 December 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: December 31, 2016 December 31, 2015 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment Mortgage loans in the process of foreclosure $ 3,025 $ 2,576 $ 1,294 $ 1,162 Consumer loans in the process of foreclosure 1,069 795 845 643 The following tables present the recorded investment in nonaccrual and loans past due over 90 days and still on accrual by class of loans as of December 31, 2016: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of December 31, 2016 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ — $ — Nonresidential 3,546 — Land 34 — Construction — — Secured 361 — Unsecured — — Total commercial loans 3,941 — Residential mortgage loans One-to four-family 6,084 — Construction — — Total residential mortgage loans 6,084 — Consumer Loans Home equity 1,936 — Auto 31 — Marine 267 — Recreational vehicle 178 — Other 2 — Total consumer loans 2,414 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 12,439 $ — The following tables present 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 tables present an age analysis of past-due loans, segregated by class of loans as of December 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 $ — $ — $ — $ — $ 93,597 $ 93,597 Nonresidential 3,511 — 61 3,572 227,829 231,401 Land — — 34 34 8,339 8,373 Construction — — — — 68,158 68,158 Secured — — 361 361 94,982 95,343 Unsecured — — — — 7,386 7,386 Total commercial loans 3,511 — 456 3,967 500,291 504,258 Residential mortgage loans One-to four-family 3,774 1,717 5,461 10,952 751,974 762,926 Construction — — — — 35,695 35,695 Total residential mortgage loans 3,774 1,717 5,461 10,952 787,669 798,621 Consumer Loans: Home equity 941 458 1,669 3,068 161,986 165,054 Automobile 130 — 3 133 39,476 39,609 Marine — — 267 267 1,529 1,796 Recreational vehicle 131 347 — 478 7,124 7,602 Other 1 3 2 6 2,531 2,537 Total consumer loans 1,203 808 1,941 3,952 212,646 216,598 Total loans $ 8,488 $ 2,525 $ 7,858 $ 18,871 $ 1,500,606 $ 1,519,477 The following tables present 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 The following table presents loans by class modified as TDRs that occurred during the year ended December 31, 2016: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential 4 6,134 6,140 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 4 6,134 6,140 Residential mortgage loans One-to four-family 8 812 853 Construction — — — Total residential mortgage loans 8 812 853 Consumer loans Home equity 4 178 182 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 4 178 182 Total restructured loans 16 $ 7,124 $ 7,175 The TDRs described above increased the allowance for loan losses by $39,000, and resulted in no charge-offs during the twelve months ended December 31, 2016. The following table presents loans by class modified as TDRs that occurred during the year ended December 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 14 1,283 1,337 Construction — — — Total residential mortgage loans 14 1,283 1,337 Consumer loans Home equity 14 844 845 Auto — — — Marine — — — Recreational vehicle — — — Other 1 28 8 Total consumer loans 15 872 853 Total restructured loans 29 $ 2,155 $ 2,190 The TDRs described above increased the allowance for loan losses by $135,000, and resulted in no charge-offs during the twelve months ended December 31, 2015. The following table presents loans by class modified as TDRs that occurred during the year ended December 31, 2014: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 120 120 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 120 120 Residential mortgage loans One-to four-family 29 2,385 2,447 Construction — — — Total residential mortgage loans 29 2,385 2,447 Consumer loans Home equity 27 1,449 1,452 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 27 1,449 1,452 Total restructured loans 57 $ 3,954 $ 4,019 The TDRs described above increased the allowance for loan losses by $193,000, and resulted in $73,000 of charge-offs during the twelve months ended December 31, 2014. During the periods ended December 31, 2016, 2015 and 2014, the terms of certain loans were modified as TDRs. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. Modifications involving a reduction of the stated interest rate of a loan were for periods ranging from six months to 2 years. Modifications involving an extension of the maturity date were for periods ranging from six months to ten years. As of December 31, 2016 and December 31, 2015, the Company has a recorded investment in troubled debt restructurings of $26.6 million and $26.3 million, respectively. The Company has allocated $3.0 million of specific reserves to customers whose loan terms were modified in TDRs as of December 31, 2016. The Company had allocated $2.3 million of specific reserves to customers whose loan terms were modified in troubled debt restructurings as of December 31, 2015. The Company committed to lend additional amounts totaling up to $31,000 and $42,000 at December 31, 2016 and December 31, 2015, respectively. TDR loans that were on nonaccrual status aggregated $6.6 million and $2.9 million at December 31, 2016 and December 31, 2015, respectively. Such loans are considered nonperforming loans. TDR loans that were accruing according to their terms aggregated $20.0 million and $23.4 million at December 31, 2016 and December 31, 2015, respectively. The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the period ended December 31, 2016: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential 1 3,603 Land — — Construction — — Secured — — Unsecured — — Total commercial loans 1 3,603 Residential mortgage loans One-to four-family 1 3 Construction — — Total residential mortgage loans 1 3 Consumer loans Home equity — — Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans — — Total restructured loans 2 $ 3,606 A TDR is considered to be in payment default once it is 30 days contractually past due under the modified terms. The TDRs that subsequently defaulted described above resulted in $350,000 in charge-offs during the twelve months ended December 31, 2016, and an $820,000 effect on the provision for loan losses. The terms of certain other loans were modified during the period ended December 31, 2016, but they did not meet the definition of a TDR. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the period ended December 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 29 Construction — — Total residential mortgage loans 2 29 Consumer loans Home equity 1 40 Auto — — Marine — — Recreational vehicle — — Other 1 8 Total consumer loans 2 48 Total restructured loans 4 $ 77 The TDRs that subsequently defaulted described above resulted in no charge-offs during the twelve months ended December 31, 2015, and had no effect on the provision for loan losses The terms of certain other loans were modified during the period ended December 31, 2015, but they did not meet the definition of a TDR. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the period ended December 31, 2014: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 3 440 Construction — — Total residential mortgage loans 3 440 Consumer loans Home equity 2 90 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 2 90 Total restructured loans 5 $ 530 The TDRs that subsequently defaulted described above resulted in no charge-offs during the twelve months ended December 31, 2014, and had no effect on the provision for loan losses. The terms of certain other loans were modified during the period ended December 31, 2014, but they did not meet the definition of a TDR. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. 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, 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. Loans may be housed in this category for no longer than 12 months during which time information is obtained to determine if the credit should be downgraded to the substandard category. 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 December 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: December 31, 2016 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 89,468 $ 3,564 $ 565 $ — $ — $ 565 $ 93,597 Nonresidential 217,204 6,037 8,160 — — 8,160 231,401 Land 8,339 — 34 — — 34 8,373 Construction 68,158 — — — — — 68,158 Secured 89,756 3,420 2,167 — — 2,167 95,343 Unsecured 7,291 — 95 — — 95 7,386 Total commercial loans 480,216 13,021 11,021 — — 11,021 504,258 Residential mortgage loans One-to four-family 754,996 104 7,826 — — 7,826 762,926 Construction 35,695 — — — — — 35,695 Total residential mortgage loans 790,691 104 7,826 — — 7,826 798,621 Consumer Loans Home equity 163,101 — 1,953 — — 1,953 165,054 Auto 39,577 1 31 — — 31 39,609 Marine 1,530 — 266 — — 266 1,796 Recreational vehicle 7,424 — 178 — — 178 7,602 Other 2,535 — 2 — — 2 2,537 Total consumer loans 214,167 1 2,430 — — 2,430 216,598 Total loans $ 1,485,074 $ 13,126 $ 21,277 $ — $ — $ 21,277 $ 1,519,477 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 Directors and officers of the Company are loan customers in the ordinary course of business. The following describes loans to officers and/or directors of the Company: (Dollars in thousands) Balance as of December 31, 2015 $ 519 New loans to officers and/or directors 543 Loan payments during 2016 (135 ) Reductions due to changes in officers and/or directors — Balance as of December 31, 2016 $ 927 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 12 Months Ended |
Dec. 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 $1.2 billion at December 31, 2016 and $1.1 billion as of 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 and changes in fair value of loans held for sale carried at fair value. Mortgage loans serviced for others are not reported as assets. The principal balance of these loans at year-end are as follows: 2016 2015 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 956,278 $ 878,300 FNMA 208,114 233,026 Customer escrow balances in connection with loans serviced for FHLMC and FNMA totaled $14.3 million and $13.2 million at year-end 2016 and 2015. Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Balance, beginning of period $ 5,686 $ 5,535 $ 5,941 Originations 2,478 1,951 1,281 Amortized to expense (2,094 ) (1,800 ) (1,687 ) Balance, end of period 6,070 5,686 5,535 Less valuation allowance — (39 ) (58 ) Net balance $ 6,070 $ 5,647 $ 5,477 Fair value of mortgage servicing rights was $10.2 million, $9.1 million and $9.0 million at December 31, 2016, 2015, and 2014, respectively. Activity in the valuation allowance for mortgage servicing rights was as follows: For the Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Balance, beginning of period $ (39 ) $ (58 ) $ — Impairment charges (727 ) (299 ) (60 ) Recoveries 766 318 2 Balance, end of period $ — $ (39 ) $ (58 ) Key economic assumptions used in measuring the value of mortgage servicing rights at December 31, 2016 and 2015 were as follows: 2016 2015 Weighted average prepayment rate 165 PSA 192 PSA Weighted average life (in years) 6.64 3.47 Weighted average discount rate 9 % 9 % At year-end 2016, the Company had approximately $30.2 million of interest rate lock commitments and $124.0 million of forward commitments for the future delivery of residential mortgage loans, including construction perm loans that are held in available for sale. At year-end 2015, the Company had approximately $28.5 million of interest rate lock commitments and $75.0 million of forward commitments for the future delivery of residential mortgage loans, including construction perm loans that are held in available for sale. The fair value of these mortgage banking derivatives was not material at year-end 2016 or 2015. Home Savings may receive requests for reimbursements from Freddie Mac and Fannie Mae, both of whom in the normal course purchase loans originated by Home Savings, for the purpose of making them whole on certain loans sold in the secondary market. These sold loans may have certain identified weaknesses such that, in the opinion of management, a settlement to the investor might be required. For the twelve months ended December 31, 2016, Home Savings recognized no expenses associated with such repurchases. Home Savings had no liability reserve for future make-whole settlements at December 31, 2016 and 2015 because management believed no reserve was necessary given the recent historical losses incurred to date, there were no loans in the pipeline to be repurchased and the probability that future losses will not occur . |
OTHER REAL ESTATE OWNED AND OTH
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS | 12 Months Ended |
Dec. 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 December 31, 2016 and 2015 was as follows: December 31, December 31, 2016 2015 (Dollars in thousands) Real estate owned and other repossessed assets $ 2,789 $ 3,956 Valuation allowance (1,012 ) (1,229 ) End of period $ 1,777 $ 2,727 Activity in the valuation allowance was as follows: 2016 2015 2014 (Dollars in thousands) Beginning of year $ 1,229 $ 1,423 $ 4,059 Additions (recoveries) charged to expense (16 ) 287 580 Direct write-downs (201 ) (481 ) (3,216 ) End of year $ 1,012 $ 1,229 $ 1,423 Expenses related to foreclosed and repossessed assets include: 2016 2015 2014 (Dollars in thousands) Net loss on sales $ 109 $ 158 $ 220 Provision for (recovery of) unrealized losses (16 ) 287 580 Operating expenses, net of rental income 191 338 631 Total Expenses $ 284 $ 783 $ 1,431 |
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2016 | |
Property Plant And Equipment [Abstract] | |
PREMISES AND EQUIPMENT | 8. PREMISES AND EQUIPMENT Premises and equipment consist of the following: December 31, 2016 2015 (Dollars in thousands) Land $ 6,993 $ 6,993 Buildings 23,907 23,841 Leasehold improvements 1,222 1,179 Furniture and equipment 26,323 23,861 58,445 55,874 Less: Accumulated depreciation and amortization 37,482 35,196 Total $ 20,963 $ 20,678 Depreciation expense was $2.3 million for 2016, $2.1 million for 2015 and $1.9 million for 2014. Rent expense was $597,000 for 2016, $338,000 for 2015 and $588,000 for 2014. Rent commitments under noncancelable operating leases for offices were as follows, before considering renewal options that generally are present: (Dollars in thousands) 2017 $ 661 2018 724 2019 726 2020 729 2021 732 Thereafter 942 Total $ 4,514 |
GOODWILL AND OTHER INTANGIBLE A
GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
GOODWILL AND OTHER INTANGIBLE ASSETS | 9. GOODWILL AND OTHER INTANGIBLE ASSETS 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 $9,000 in acquisition related costs recognized for the nine months ended September 30, 2016. Total assets purchased were $2.3 million, including $208,000 million in goodwill and $1.4 million in other intangible assets. The Company had no recorded goodwill at December 31, 2015 or 2014. Goodwill The change in goodwill during the year is as follows: December 31, 2016 Beginning of the year $ — Acquired goodwill 208 Impairment — End of the year $ 208 Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. At December 31, 2016, the Company’s reporting unit had positive equity and the Company elected to perform a qualitative assessment to determine if it was more likely than not the fair value of the reporting unit exceeded its carrying value, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment. Acquired Intangible Assets As of December 31, 2016 2015 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Amortized intangible assets: Core deposit intangibles $ 8,952 $ 8,947 $ 8,952 $ 8,922 Customer list intangible 1,400 44 — — Total $ 10,352 $ 8,991 $ 8,952 $ 8,922 Aggregate amortization expense for 2016 was $69,000, for 2015 was $54,000 and for 2014 was $68,000. Estimated amortization expense for the next five years is as follows: Estimated Amortization Expense 2017 $ 98,000 2018 93,000 2019 93,000 2020 93,000 2021 93,000 |
DEPOSITS
DEPOSITS | 12 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
DEPOSITS | 10. DEPOSITS Deposits consist of the following: December 31, 2016 2015 (Dollars in thousands) Checking accounts: Interest bearing $ 158,270 $ 160,264 Non-interest bearing 256,918 227,505 Savings accounts 294,564 280,889 Money market accounts 316,813 312,125 Certificates of deposit 488,426 454,960 Total deposits $ 1,514,991 $ 1,435,743 Included in total deposits above are related-party deposits of $3.5 million and $2.8 million at December 31, 2016 and 2015, respectively. Interest expense on deposits is summarized as follows: December 31, 2016 2015 2014 (Dollars in thousands) Interest bearing demand deposits and money market accounts $ 1,012 $ 1,006 $ 838 Savings accounts 124 161 169 Certificates of deposit 4,786 5,359 5,428 Total $ 5,922 $ 6,526 $ 6,435 A summary of certificates of deposit by maturity follows: December 31, 2016 (Dollars 2017 $ 305,912 2018 94,883 2019 29,294 2020 17,494 2021 19,913 Thereafter 20,930 Total $ 488,426 A summary of certificates of deposit with balances greater than $250,000 by maturity is as follows: December 31, 2016 2015 (Dollars in thousands) Three months or less $ 1,552 $ 751 Over three months to six months 10,346 2,067 Over six months to twelve months 35,234 25,668 Over twelve months 14,151 46,779 Total $ 61,283 $ 75,265 Home Savings had $76.5 million in brokered deposits at December 31, 2016. Home Savings had no brokered deposits at December 31, 2015. Home Savings offers an equity-linked time deposit product (the Power CD). The Power CD is a time deposit that provides the purchaser a guaranteed return of principal at maturity plus a potential equity return. Home Savings had $12.9 million in Power CDs that were included in certificates of deposit at December 31, 2016. Home Savings had $12.3 million in Power CDs that were included in certificates of deposit at December 31, 2015. |
FEDERAL HOME LOAN BANK ADVANCES
FEDERAL HOME LOAN BANK ADVANCES | 12 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
FEDERAL HOME LOAN BANK ADVANCES | 11. FEDERAL HOME LOAN BANK ADVANCES The following is a summary of FHLB advances: December 31, 2016 2015 (Dollars in thousands) Weighted Weighted Year of maturity Amount average rate Amount average rate 2016 $ — — % $ 232,000 0.35 % 2017 343,000 0.64 % — — % 2019 47,756 2.73 % 46,975 2.19 % $ 390,756 0.90 % $ 278,975 0.66 % At December 31, 2016, Home Savings has remaining available credit, subject to collateral requirements, with the FHLB of approximately $172.1 million. At December 31, 2015, Home Savings had remaining available credit, subject to collateral requirements, with the FHLB of approximately $206.3 million. All advances must be secured by eligible collateral as specified by the FHLB. Accordingly, Home Savings had a blanket pledge of its one-to four-family mortgages as collateral for the advances outstanding at December 31, 2016 and 2015. The required minimum ratio of collateral to advances is 115% for one-to four-family loans. Additional changes in value can be applied to one-to four-family mortgage collateral based upon characteristics such as loan-to-value ratios and FICO scores. On November 18, 2014, Home Savings modified a $50.0 million fixed-rate term advance with the FHLB. The modification reduced the weighted average interest rate paid on the debt from 4.20% fixed-rate to a floating rate, and extended the weighted average maturity from 2.0 years to 5.0 years. A $3.9 million prepayment penalty was incurred by Home Savings as part of the modification which will be amortized using a level yield method over the five-year remaining term of the modified borrowing as a yield adjustment. The floating rate was 1.16% at December 31, 2016 and 0.62% at December 31, 2015. The effective rate on the modified borrowing was 2.73% at December 31, 2016 and 2.19% at December 31, 2015, including the impact of the prepayment penalty amortization. FHLB term advances are subject to prepayment penalties. |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENT TO REPURCHASE AND OTHER BORROWINGS | 12 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
SECURITIES SOLD UNDER AGREEMENT TO REPURCHASE AND OTHER BORROWINGS | 12. SECURITIES SOLD UNDER AGREEMENT TO REPURCHASE AND OTHER BORROWINGS The following is a summary of securities sold under an agreement to repurchase and other borrowings: December 31, 2016 2015 (Dollars in thousands) Amount Weighted average rate Amount Weighted average rate Other borrowings 512 4.00 % 535 4.00 % Total borrowings $ 512 4.00 % $ 535 4.00 % December 31, 2016 2015 2014 (Dollars in throusands) Average daily balance during the year $ 523 $ 29,891 $ 82,102 Average interest rate during the year 4.00 % 4.19 % 4.10 % Maximum month end balance during the year $ 535 $ 30,556 $ 90,577 Weighted average interest rate at year end 4.00 % 4.00 % 4.00 % At December 31, 2016 and 2015, Home Savings had no repurchase agreements outstanding. At the end of the fourth quarter of 2015, Home Savings prepaid the remaining $30.0 million tranche of repurchase agreements and incurred a prepayment penalty of $1.3 million. Other borrowings consist of a match-funding advance related to a commercial participation loan aggregating $512,000 at December 31, 2016 and $535,000 at December 31, 2015. |
LOSS CONTINGENCIES
LOSS CONTINGENCIES | 12 Months Ended |
Dec. 31, 2016 | |
Commitments And Contingencies Disclosure [Abstract] | |
LOSS CONTINGENCIES | 13. LOSS CONTINGENCIES United Community and Home Savings are parties to litigation arising in the normal course of business. While it is difficult to determine the ultimate resolution of these matters, management believes any resulting liability would not have a material effect upon United Community’s financial statements. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 14. INCOME TAXES The income tax expense (benefit) consists of the following components: For the Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Current $ 300 $ 577 $ 89 Deferred 7,843 7,316 2,978 Change in valuation allowance — — (42,802 ) Total $ 8,143 $ 7,893 $ (39,735 ) Effective tax rates differ from the statutory federal income tax rate of 35% due to the following: For the Year Ended December 31, 2016 2015 2014 Dollars Rate Dollars Rate Dollars Rate (Dollars in thousands) Tax (benefit) at statutory rate $ 9,440 35.0 % $ 8,461 35.0 % $ 3,665 35.0 % Increase (decrease) due to: Tax exempt income (471 ) (1.7 )% (45 ) (0.2 )% — — % Life insurance (523 ) (1.9 )% (602 ) (2.5 )% (500 ) (4.8 )% Other 208 0.7 % 79 0.3 % (98 ) (0.9 )% Disproportionate tax reversal (511 ) (1.9 )% — — % — — % Valuation allowance — — % — — % (42,802 ) (408.8 )% Income tax provision (benefit) $ 8,143 30.2 % $ 7,893 32.6 % $ (39,735 ) -379.5 % Significant components of the deferred tax assets and liabilities are as follows: December 31, 2016 2015 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 6,680 $ 6,199 Postretirement benefits — 564 Depreciation 748 611 Other real estate owned valuation 354 430 Tax credits carryforward 1,471 951 Unrealized loss on securities available for sale 1,685 1,341 Unrealized loss on securities held to maturity 431 517 Interest on nonaccrual loans 1,039 834 Net operating loss carryforward 8,574 16,903 Purchase accounting adjustment — 90 Accrued bonuses 812 723 Other 221 50 Deferred tax assets 22,015 29,213 Deferred tax liabilities: Deferred loan fees 1,275 510 Federal Home Loan Bank stock dividends 4,585 4,585 Mortgage servicing rights 2,124 1,976 FHLB prepayment penalty 786 1,059 Postretirement benefits accrual — 447 Purchase accounting adjustment 371 — Prepaid expenses 139 215 Deferred tax liabilities 9,280 8,792 Net deferred tax asset $ 12,735 $ 20,421 At June 30, 2014, the Company had fully reversed $42.8 million of the valuation allowance on its net DTA. The realization of a DTA is assessed and a valuation allowance is recorded if it is “more likely than not” that all or a portion of the DTA will not be realized. “More likely than not” is defined as the DTA being more than 50% likely of being realized. All available evidence, both positive and negative is considered to determine whether, based on the weight of that evidence, a valuation allowance against the net DTA is required. In assessing the need for a valuation allowance, the Company considered all available evidence about the realization of the DTA both positive and negative, that could be objectively verified. 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 $24.5 million 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 $1.5 million of alternative minimum tax credits. The alternative minimum tax credits are carried forward indefinitely. Retained earnings at December 31, 2016 included approximately $21.1 million for which no provision for federal income taxes has been made. This amount represents the tax bad debt reserve at December 31, 1987, which is the end of United Community’s base year for purposes of calculating the bad debt deduction for tax purposes. If this portion of retained earnings is used in the future for any purpose other than to absorb bad debts, the amount used will be added to future taxable income. The unrecorded deferred tax liability on the above amount at December 31, 2016 was approximately $7.3 million. At December 31, 2016, Home Savings had approximately $19.9 million deficit in tax earnings and profits. Any distribution from Home Savings to United Community, other than current period earnings, in excess of tax earnings and profits, including any distributions made by Home Savings in direct redemption of stock from United Community, could result in recapture of proportionate amounts of these bad debt reserves and, as a result, recording of the related tax liability. As of December 31, 2016 and December 31, 2015, United Community had no unrecognized tax benefits or accrued interest and penalties recorded. United Community does not expect the total amount of unrecognized tax benefits to significantly increase within the next twelve months. United Community will record interest and penalties as a component of income tax expense. United Community and Home Savings are subject to U.S. federal income tax. Home Savings is subject to tax in Ohio based upon its net worth. United Community and Home Savings also file state income tax returns in Pennsylvania, Indiana and Florida. United Community is no longer subject to examination by taxing authorities for years prior to 2013. |
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
SHAREHOLDERS’ EQUITY | 15. SHAREHOLDERS’ EQUITY Dividends United Community’s source of funds for dividends to its shareholders is earnings on its investments and dividends from Home Savings. During the year ended December 31, 2016, United Community paid total cash dividends of $0.11 per common share. While Home Savings’ primary regulator is the FDIC, the FRB has regulations that impose certain restrictions on payments of dividends to United Community as of December 31, 2016. Home Savings must file an application with, and obtain approval from, the FRB if (i) the proposed distribution would cause total distributions for the calendar year to exceed net income for that year-to-date plus retained net income (as defined) for the preceding two years; (ii) Home Savings would not be at least adequately capitalized following the capital distribution; or (iii) the proposed distribution would violate a prohibition contained in any applicable statute, regulation or agreement between Home Savings and the FRB or the FDIC, or any condition imposed on Home Savings in an FRB-approved application or notice. If Home Savings is not required to file an application, it must file a notice of the proposed capital distribution with the FRB. As of December 31, 2016, Home Savings had no retained earnings that could be distributed based on cumulative dividends and net income over the aforementioned period. Home Savings paid a $23.5 million dividend to United Community from current period earnings during 2016. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) included in the consolidated statements of shareholders’ equity consists of unrealized gains and losses on available for sale securities, unrealized losses on securities transferred from available for sale to held to maturity, accretion of unrealized losses on securities transferred from available for sale to held to maturity, disproportional tax effects and changes in unrealized gains and losses on the postretirement plan. The change includes reclassification of net gains or (losses) on sales of securities of $604,000, $142,000 and $444,000 for the years ended December 31, 2016, 2015 and 2014. The following is a summary of accumulated other comprehensive income (loss) to net income balances: Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) on Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total 2016 (Dollars in thousands) Balances at beginning of period, net of tax $ (2,492 ) $ (17,110 ) $ (960 ) $ 831 $ 511 $ (19,220 ) Other comprehensive loss before reclassifications (245 ) — — — — (245 ) Amortization of unrealized gains of postretirement plan recognized in other comprehensive income — — — (831 ) (511 ) (1,342 ) Accretion of unrealized losses transferred from available for sale to held to maturity recognized in other comprehensive income — — 160 — — 160 Reclassification adjustment for gains realized in income (393 ) — — — (393 ) Net current period other comprehensive income (638 ) — 160 (831 ) (511 ) (1,820 ) Balances at end of period, net of tax $ (3,130 ) $ (17,110 ) $ (800 ) $ — $ — $ (21,040 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) on Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total 2015 (Dollars in thousands) Balances at beginning of period, net of tax $ (4,315 ) $ (17,110 ) $ — $ 916 $ 511 $ (19,998 ) Transfer of losses from available for sale to held to maturity 999 — (999 ) — — — Other comprehensive income before reclassifications 916 — — 120 — 1,036 Accretion of unrealized losses transferred from available for sale to held to maturity recognized in other comprehensive income — — 39 — — 39 Reclassification adjustment for gains realized in income (92 ) — — (205 ) — (297 ) Net current period other comprehensive income 1,823 — (960 ) (85 ) — 778 Balances at end of period, net of tax $ (2,492 ) $ (17,110 ) $ (960 ) $ 831 $ 511 $ (19,220 ) 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 2014 (Dollars in thousands) Balances at beginning of period $ (40,393 ) $ (2,972 ) $ 1,829 $ (129 ) $ (41,665 ) Income tax 14,138 (14,138 ) (640 ) 640 — Balances at beginning of period, net of tax (26,255 ) (17,110 ) 1,189 511 (41,665 ) Other comprehensive income (loss) before reclassifications 22,229 — (130 ) — 22,099 Reclassification adjustment for (gains) losses realized in income (289 ) — (143 ) — (432 ) Net current period other comprehensive income 21,940 — (273 ) — 21,667 Balances at end of period, net of tax $ (4,315 ) $ (17,110 ) $ 916 $ 511 $ (19,998 ) 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. During 2016, with the termination and settlement of the postretirement plans, the disproportionate tax effect associated with these plans was reversed and recorded as a tax benefit. The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) to net income for the year ended December 31, 2016: Amount Reclassified From Accumulated Details About Accumulated Other Other Comprehensive Affected Line Item on the Statement Where Comprehensive Income Components Income to Net Income Net Income is Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 604 Net gains on securities available for sale (211 ) Tax (expense) benefit 393 Net of tax Amortization of postretirement benefits prior service costs 1,278 Reduction of salaries & employee benefits expense (447 ) Tax (expense) benefit 511 Disproportionate tax benefit effect from plan settlement 1,342 Net of tax Total reclassification during the period $ 1,735 Increase to net income The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) to net income for the year ended December 31, 2015: Amount Reclassified From Accumulated Details About Accumulated Other Other Comprehensive Affected Line Item on the Statement Where Comprehensive Income Components Income to Net Income Net Income is Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 142 Net gains on securities available for sale (50 ) Tax (expense) benefit 92 Net of tax Amortization of postretirement benefits prior service costs 315 Reduction of salaries & employee benefits expense (110 ) Tax (expense) benefit 205 Net of tax Total reclassification during the period $ 297 Increase to net income The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the year ended December 31, 2014: Amount Reclassified From Accumulated Details About Accumulated Other Other Comprehensive Affected Line Item on the Statement Where Comprehensive Income Components Income to Net Income Net Income is Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 444 Net gains on securities available for sale (155 ) Tax (expense) benefit 289 Net of tax Amortization of postretirement benefits prior service costs 220 Reduction of salaries & employee benefits expense (77 ) Tax (expense) benefit 143 Net of tax Total reclassification during the period $ 432 Increase to net income Liquidation Account At the time of the Conversion, Home Savings established a liquidation account, totaling $141.4 million, which was equal to its regulatory capital as of the latest practicable date prior to the Conversion. In the event of a complete liquidation, each eligible depositor will be entitled to receive a distribution from the liquidation account in an amount proportionate to the current adjusted qualifying balances for the accounts then held. |
REGULATORY CAPITAL MATTERS
REGULATORY CAPITAL MATTERS | 12 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
REGULATORY CAPITAL MATTERS | 16. REGULATORY CAPITAL MATTERS 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 is being phased in through January 1, 2019, when the full capital conservation buffer requirement will be effective. The capital conservation buffer for 2017 is 1.25%. 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. December 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) $ 248,861 16.47 % $ 130,292 8.625 % $ 151,063 10.00 % Tier 1 capital (to risk-weighted assets) 229,938 15.22 % 100,079 6.625 % 120,850 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 229,938 15.22 % 77,420 5.125 % 98,191 6.50 % Tier 1 capital (to average assets)** 229,938 10.65 % 86,360 4.00 % 107,950 5.00 % **Tier 1 Leverage Capital Ratio 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) $ 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 The components of Home Savings’ regulatory capital are as follows: December 31, 2016 December 31, 2015 (Dollars in thousands) Total shareholders' equity $ 216,475 $ 220,872 Add (deduct) Accumulated other comprehensive loss 21,056 19,236 Intangible assets (3 ) (12 ) Disallowed deferred tax assets (7,590 ) (15,610 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 229,938 224,486 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 18,923 16,211 Total risk-based capital $ 248,861 $ 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. December 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) $ 277,817 18.38 % $ 130,369 8.625 % $ 151,153 10.00 % Tier 1 capital (to risk-weighted assets) 258,869 17.13 % 100,139 6.625 % 120,922 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 258,869 17.13 % 77,466 5.125 % 98,249 6.50 % Tier 1 capital (to average assets)** 258,869 11.98 % 86,425 4.00 % 108,031 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: December 31, 2016 December 31, 2015 (Dollars in thousands) Total shareholders' equity $ 249,806 $ 244,245 Add (deduct) Accumulated other comprehensive loss 21,040 19,220 Intangible assets (1,567 ) (12 ) Disallowed deferred tax assets (10,410 ) (17,950 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 258,869 245,503 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 18,948 16,229 Total risk-based capital $ 277,817 $ 261,732 Management believes that as of December 31, 2016 and 2015, Home Savings and United Communtiy meets all capital adequacy requirements to which they were subject. As of December 31, 2016 and 2015, Home Savings and United Community were considered well capitalized. |
BENEFIT PLANS
BENEFIT PLANS | 12 Months Ended |
Dec. 31, 2016 | |
Postemployment Benefits [Abstract] | |
BENEFIT PLANS | 17. BENEFIT PLANS Postretirement Benefit Plans In addition to Home Savings’ retirement plans, Home Savings sponsored a defined benefit health care plan that was curtailed in 2000 to provide postretirement medical benefits only for these employees who worked 20 years and attained a minimum age of 60 by September 1, 2000, while in service with Home Savings. That plan was curtailed again in 2015, and medical benefits are no longer provided to plan participants as of December 31, 2016. The curtailment resulted in a gain of $1.1 million recognized in salaries and employee benefits during 2015 and the recognition of unrealized gains as a reduction of salaries and employee benefits of $1.2 million during 2016. The plan was unfunded and, as such, had no assets. Furthermore, the plan was contributory and contained minor cost-sharing features such as deductibles and coinsurance. In addition, postretirement life insurance coverage was provided for employees who were participants prior to December 10, 1976. The life insurance plan was non-contributory. Home Savings’ policy was to pay premiums monthly, with no pre-funding. The life insurance portion of the plan was terminated and the plan was settled in the fourth quarter of 2016. The benefit obligation measurement date was December 31. Information about changes in obligations of the benefit plan follows: For the year ended December 31, 2016 For the year ended December 31, 2015 (Dollars in thousands) Change in Benefit Obligation: Benefit obligation at beginning of year $ 333 $ 1,636 Service cost — — Net periodic benefit cost (benefit) (1,268 ) (261 ) Actuarial gain 1,268 131 Benefits paid (333 ) (101 ) Curtailment gain — (1,072 ) Benefit obligation at end of the year — 333 Funded status of the plan $ — $ (333 ) Amounts recognized in accumulated other comprehensive income, at December 31, 2015 consists of the following: For the year ended December 31, 2015 Prior service credit $ 228 Net actuarial gains 1,050 $ 1,278 The accumulated benefit obligation was $333,000 at year-end 2015. Components of net periodic benefit cost/(benefit) are as follows: For the year ended December 31, 2016 2015 2014 Service cost $ — $ — $ — Interest cost 10 53 56 Expected return on plan assets — — — Net amortization of prior service cost (benefit) (228 ) (228 ) (77 ) Amortization of net actuarial gain (1,050 ) (86 ) (142 ) Curtailment gain — (1,072 ) — Net periodic benefit cost (1,268 ) (1,333 ) (163 ) Net (gain) loss — (184 ) 200 Prior service credit — — — Amortization of prior service cost and net actuarial gain 1,278 315 220 Total recognized in other comprehensive income 1,278 131 420 Total recognized in net periodic benefit cost and other comprehensive income $ 10 $ (1,202 ) $ 257 Assumptions used in the valuations were as follows: Weighted average discount rate 3.90 % 3.90 % 3.40 % 401(k) Savings Plan Home Savings sponsors a defined contribution 401(k) savings plan, which covers substantially all employees. Under the provisions of the plan, Home Savings’ matching contribution is discretionary and may be changed from year to year. For 2016 and 2015, Home Savings’ match was 50% of pretax contributions up to a maximum of 6%. For 2014, Home Savings’ match was 25% of pre-tax contributions, up to a maximum of 6% of the employees’ base pay. Participants become 100% vested in Home Savings contributions upon completion of three years of service. For the years ended 2016, 2015 and 2014, the expense related to this plan was approximately $480,000, $465,000 and $224,000, respectively. Stock-based Compensation: Stock Options On April 30, 2015, shareholders approved the United Community Financial Corp. 2015 Long Term Incentive Compensation Plan (the 2015 Plan). The purpose of the 2015 Plan is to provide a means through which United Community may attract and retain employees and non-employee directors, to provide incentives that align their interest with those of United Community’s shareholders and promote the success of United Community’s business. All employees and non-employee directors are eligible to participate in the 2015 Plan. The 2015 Plan provides for the issuance of up to 1,200,000 shares that are to be used for awards of stock options, stock awards, stock units, stock appreciation rights, annual bonus awards and long-term incentive awards. On April 26, 2007, shareholders approved the United Community Financial Corp. 2007 Long-Term Incentive Plan (as amended, the 2007 Plan). The purpose of the 2007 Plan was to promote and advance the interests of United Community and its shareholders by enabling United Community to attract, retain and reward directors, directors emeritus, managerial and other key employees of United Community, including Home Savings, by facilitating their purchase of an ownership interest in United Community. The 2007 Plan was terminated on April 30, 2015 upon the adoption of the 2015 Plan, although the 2007 Plan survives so long as awards issued under the 2007 Plan remain outstanding and exercisable. The 2007 Plan provided for the issuance of up to 2,000,000 shares that were to be used for awards of restricted stock, stock options, performance awards, stock appreciation rights (SARs), or other forms of stock-based incentive awards. On July 12, 1999, shareholders approved the United Community Financial Corp. 1999 Long-Term Incentive Plan (as amended, the 1999 Plan). The purpose of the 1999 Plan was the same as the 2007 Plan. The 1999 Plan terminated on May 20, 2009, although the 1999 Plan survives so long as options issued under the 1999 Plan remain outstanding and exercisable. The 1999 Plan provided for the grant of either incentive or nonqualified stock options. Options were awarded at exercise prices that were not less than the fair market value of the share at the grant date. The maximum number of common shares that could be issued under the 1999 Plan was 3,569,766. Because the 1999 Plan terminated, no additional options may be issued under it. All of the options awarded became exercisable on the date of grant except that options granted in 2009 became exercisable over three years beginning on December 31, 2009. All options expire 10 years from the date of grant. There were no stock options granted in 2016 and there were 6,618 and 7,124 stock options granted in 2015 and 2014, respectively. 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 $9,000, $24,000 and $25,000, in stock option expenses for the twelve months ended December 31, 2016, 2015 and 2014, respectively. The Company expects to recognize additional expense of $1,000 in 2017. A summary of activity in the plans is as follows: For the year ended December 31, 2016 Shares Weighted average exercise price Aggregate intrinsic value (Dollars in thousands) Outstanding at beginning of year 572,323 $ 2.56 Granted — — Exercised (199,905 ) 2.60 Forfeited (1,200 ) 2.10 Outstanding at end of period 371,218 2.55 $ 2,358 Options exercisable at end of period 364,600 2.50 2,349 Information related to the stock options granted and exercised during each year follows: 2016 2015 2014 Intrinsic value of options exercised $ 883,000 $ 48,000 $ 147,000 Cash received from option exercises 517,000 28,000 172,000 Tax benefit realized from option exercises 82 — — Weighted average fair value of options granted — 1.70 1.73 As of December 31, 2016, there was approximately $1,000 of total unrecognized compensation cost related to nonvested stock options granted under the 2007 Plan. The cost is expected to be recognized over a weighted-average period of 0.5 years. There were no options granted in 2016. The fair value of options granted in 2015 and 2014 were determined using the following weighted-average assumptions as of the grant date: 2016 2015 2014 Risk-free interest rate 0.00 % 1.49 % 1.74 % Expected term (years) — 5 5 Expected stock volatility 0.00 % 35.95 % 85.75 % Dividend yield 0.00 % 0.74 % 0.80 % Outstanding stock options have a weighted average remaining life of 3.40 years and may be exercised in the range of $1.20 to $5.89. Stock-based Compensation: Restricted Stock Awards The 2015 and 2007 Plans permit the issuance of restricted stock awards to employees and nonemployee directors. Nonvested shares at December 31, 2016 aggregated 341,184, of which, 148,963 will vest in 2017, 98,450 will vest in 2018 and 93,771 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 market value of the shares at the grant date. The Company recognized approximately $970,000, $756,000 and $482,000 in restricted stock award expenses for the twelve months ended December 31, 2016, 2015 and 2014, respectively. The Company expects to recognize additional expenses of approximately $655,000 in 2017, $412,000 in 2018, and $137,000 in 2019. A summary of changes in the Company’s nonvested restricted shares for the year is as follows: Shares Weighted average exercise price Nonvested shares at January 1, 2016 260,490 $ 4.68 Granted 200,856 6.04 Vested (117,234 ) 4.61 Forfeited (2,928 ) 4.53 Nonvested shares at December 31, 2016 341,184 5.50 The total average per share fair value of shares vested during the years ended December 31, 2016, 2015 and 2014 was $5.97, $5.48 and $4.73, respectively. Annual Incentive Plan The Annual Incentive Plan (“AIP”) provides incentive compensation awards to certain officers of the Company. The incentive awards are based upon the actual performance of the Company for the twelve months ending December 31, compared to the actual performance of a peer group during the same twelve month period and personal performance. The target incentive awards for each year are measured as a percentage of the base salary of participating officers. Once the awards under the AIP are calculated, they are paid 80% in cash and 20% in restricted stock. The restricted stock will be granted and vest equally over three years, beginning on the first anniversary of the date the restricted stock is issued. The Company incurred $356,000, $269,000 and $286,000 in expense for the restricted stock portion of the AIP and $1.3 million, $804,000 and $640,000 for the cash portion of the AIP for the twelve months ended December 31, 2016, 2015 and 2014, respectively. Restricted stock expenses for the AIP 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 $693,000, $199,000 and $179,000 in expense for the LTIP for the twelve months ended December 31, 2016, 2015 and 2014, respectively. The increase in expense for 2016 was driven by the rise in United Community’s share price duirng the year. |
FAIR VALUE
FAIR VALUE | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | 18. FAIR VALUE 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), using matrix pricing. Matrix pricing is a mathematical technique commonly used to price debt securities that are not actively traded, values debt securities without relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). 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. 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 (Level 2), 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 for which the fair value option has not been elected 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 conventional residential one-to four-family loans held for sale originated after January 1, 2016 and all permanent construction loans held for sale originated after January 1, 2015. The fair value of conventional loans held for sale is determined using the current 15 day forward contract price for either 15 or 30 year conventional mortgages (Level 2). The fair value of permanent construction loans held for sale is determined using the current 60 day forward contract price for 30 year conventional mortgages which is then adjusted by extrapolating this rate to the estimated time period remaining until construction is complete. The fair value is also adjusted for unobservable market data such as estimated fall out rates and the estimated time from origination to completion of construction (Level 3). Interest rate caps: Home Savings interest rate caps matured in the fourth quarter of 2016. Home Savings used an independent third party that performs a market valuation analysis for interest rate caps. The methodology used consisted of a discounted cash flow model, all future floating cash flows were projected and both floating and fixed cash flows were discounted to the valuation date. The yield curve utilized for discounting and projecting was 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 were 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 December 31, 2016 Using: Quoted Significant Prices in Unobservable Active Significant Inputs Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities US Treasury and government sponsored entities’ securities $ 186,033 $ — $ 186,033 $ — States of the U.S. and political subdivisions 57,757 — 57,757 — Mortgage-backed GSE securities: residential 99,494 — 99,494 — Loans held for sale, at fair value 62,593 — 8,832 53,761 Purchased certificate of deposit option 882 — 882 — Liabilities Written certificate of deposit option 882 — 882 — Fair Value Measurements at December 31, 2015 Using: Quoted Significant Prices in Unobservable Active Significant Inputs 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 US Treasury and government sponsored entities’ securities $ 218,650 $ — $ 218,650 $ — States of the U.S. and policical 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 and 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 years ended December 31, 2016 and 2015, in thousands: Construction loans held for sale Twelve months ended Twelve months ended December 31, 2016 December 31, 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 (1,796 ) 1,519 Included in other comprehensive income — — Originations 82,878 41,026 Amortizations — — Sales (54,037 ) (15,829 ) Balance of recurring Level 3 assets at end of period $ 53,761 $ 26,716 Interest Rate Caps Twelve months ended Twelve months ended December 31, 2016 December 31, 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 385 341 Included in other comprehensive income — — Purchases — — Amortization (388 ) (518 ) Sales — — Balance of recurring Level 3 assets at end of period $ — $ 3 There were no interest rate caps as of December 31, 2016. 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 December 31, 2016: Fair Value Valuation Technique Unobservable Inputs Range (Dollars in thousands) Construction loans held for sale $ 53,761 Comparable sales Time discount using the 60 day forward contract 0.00%-1.80% The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2015: Fair Value Valuation Technique Unobservable Inputs Range (Dollars in thousands) Construction loans held for sale $ 26,716 Comparable sales Time discount using the 60 day forward contract 0.00%-1.80% Interest rate caps 3 Discounted cash flow Discount Rate 0.49%-1.18% The significant unobservable inputs used in the fair value measurement 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. Significant increases/(decreases) in any of those inputs in isolation would result in a significantly lower/(higher) fair value measurement. Assets Measured on a Non-Recurring Basis Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at December 31, 2016 Using: Quoted Significant Prices in Unobservable Active Significant Inputs Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans Commercial loans Nonresidential $ 2,257 $ — $ — $ 2,257 Secured 284 — — 284 Residential loans One-to four-family residential 919 — — 919 Consumer loans Home Equity 228 — — 228 Auto 177 — — 177 Recreational vehicle 89 — — 89 Other real estate owned, net Commercial loans Construction loans 748 — — 748 Residential loans One-to four-family residential 281 — — 281 Fair Value Measurements at December 31, 2015 Using: Quoted Significant Prices in Unobservable Active Significant Inputs 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 $4.0 million at December 31, 2016, that includes a specific valuation allowance of $1.3 million. This resulted in an increase of the provision for loan losses of $4.1 million during the twelve months ended December 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 $4.9 million at December 31, 2015, that includes a specific valuation allowance of $548,000. This resulted in an increase of the provision for loan losses of $29,000 during the twelve months ended December 31, 2015. 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 value versus appraised value. During the reported periods, discounts applied to appraisals for estimated selling costs were 10%. At December 31, 2016, no mortgage servicing rights were carried at fair value, resulting in a net recovery of $39,000 for the year ended December 31, 2016. At December 31, 2015, mortgage servicing rights carried at fair value was $604,000, resulting in a net recovery of $19,000 for the year ended December 31, 2015. Mortgage servicing rights are valued by an independent third party that is active in purchasing and selling these instruments. The value reflects the characteristics of the underlying loans discounted at a market multiple. At December 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 $1.0 million that includes a valuation allowance of $1.0 million. This resulted in a recovery of expenses of $16,000 during the twelve months ended December 31, 2016. At December 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 $2.0 million, with a valuation allowance of $1.2 million. This resulted in additional expenses of $287,000 million during the twelve months ended December 31, 2015. 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, 2016: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Average) (Dollars in thousands) Impaired loans Commercial loans Nonresidential $ 2,257 Sales comparison approach Adjustment for differences between comparable sales 0.00-35.00% (15.00%) Secured 284 Sales comparison approach Adjustment for differences between comparable sales 0.00-64.00% (16.00%) Residential loans One-to four-family residential 919 Sales comparison approach Adjustment for differences between comparable sales 0.00-10.77% (4.27%) Consumer loans Home Equity 228 Sales comparison approach Adjustment for differences between comparable sales 0.00-17.85% (8.93%) Other real estate owned, net Commercial loans Construction loans 748 Sales comparison approach Cost approach Adjustment for differences between comparable sales Adjustment for differences in cost 0.00%-90.40% (27.46%) 0.00%-33.33% (16.67%) Residential loans One-to four-family residential 281 Sales comparison approach Adjustment for differences between comparable sales 0.00-27.00% (7.74%) Auto and recreational vehicle loans were excluded from the table above as their value is considered immaterial. 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 (Average) (Dollars in thousands) Impaired loans Commercial loans Nonresidential $ 2,857 Sales comparison approach Adjustment for differences between comparable sales 9.19%-12.380% (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, 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 1,088 Sales comparison approach Adjustment for differences between comparable sales 0.00-40.50% (15.51%) The Company has elected the fair value option for all conventional residential one-to four-family loans originated after January 1, 2016 and all permanent construction loans held for sale an originated after January 1, 2015. These loans are intended for sale and the Company believes that the 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 days or more past due nor on nonaccrual as of December 31, 2016 and 2015. As of December 31, 2016 and 2015, the aggregate fair value, contractual balance and gain or loss was as follows: December 31, 2016 December 31, 2015 (Dollars in thousands) (Dollars in thousands) Aggregate fair value $ 62,593 $ 26,716 Contractual balance 62,843 25,197 Gain (loss) (250 ) 1,519 The total amount of losses from changes in fair value included in earnings for the years ended December 31, 2016 and 2015 were $1.8 million and $1.5 million, respectively. The carrying value and estimated fair values of financial instruments at December 31, 2016 and December 31, 2015, were as follows: Fair Value Measurements at December 31, 2016 Using: December 31, 2016 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 45,887 $ 45,887 $ — $ — Available for sale securities 343,284 — 343,284 — Held to maturity securities 97,519 — 92,940 3,210 Loans held for sale at lower of cost or market 165 — 169 — Loans held for sale at fair value 62,593 — 8,832 53,761 Loans, net 1,503,577 — — 1,494,534 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 6,900 — 2,624 4,276 Purchased certificate of deposit option 882 — 882 — Liabilities: Deposits: Checking, savings and money market accounts (1,026,565 ) (1,026,565 ) — — Certificates of deposit (488,426 ) — (491,278 ) — FHLB advances (390,756 ) — (390,750 ) — Repurchase agreements and other (512 ) — (513 ) — Advance payments by borrowers for taxes and insurance (23,812 ) (23,812 ) — — Accrued interest payable (145 ) — (145 ) — Written certificate of deposit option (882 ) — (882 ) — 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 at lower of cost or market 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. 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) Short-term Borrowings The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within 90 days, approximate their fair values resulting in a Level 2 classification. (g) Other Borrowings 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. (h) 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. (i) 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 | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE | 19. STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE Supplemental disclosures of cash flow information are summarized below: For the Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Supplemental disclosures of cash flow information: Cash paid during the year for: Interest on deposits and borrowings $ 8,336 $ 9,245 $ 12,190 Income taxes 475 375 130 Supplemental schedule of noncash activities: Securities transferred from available for sale to held to maturity, at fair value — 103,768 — Accretion of securities held to maturity 247 131 — Transfers from loans to real estate owned 971 2,264 1,982 Transfers from loans to other assets 6,384 — — Issuance of common stock-James & Sons acquisition 1,547 — — |
DERIVATIVES
DERIVATIVES | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives | 20. DERIVATIVES Home Savings utilizes interest rate cap agreements as part of its asset/liability management strategy to help manage its interest rate risk position. Home Savings entered into an interest rate cap agreement in October 2011 with an outside counterparty. Home Savings receives proceeds from the counterparty if interest rates exceed the cap rate computed based on the underlying notional amounts. The notional amount of the interest rate caps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate cap agreements. The interest rate caps are carried as freestanding derivatives, considered an economic hedge and classified as an other asset with a carrying value of $0 at December 31, 2016 and $3,000 at December 31, 2015 with changes in fair value of approximately $(3,000), $(177,000) and $(366,000) during 2016, 2015 and 2014 reported in current earnings through other noninterest income. Home Savings had no interest rate caps as of December 31, 2016. Summary information about the interest rate caps not designated hedges as of December 31, 2015 is as follows: December 31, 2015 (Dollars in thousands) Notional amounts $ 100,000 Weighted average strike rate, based on three-month LIBOR 1.50 % Weighted average maturity remaining 0.75 years Fair value of combined interest rate caps $ 3 The following table presents net gains/(losses) recorded in noninterest income relating to instruments not designated as hedges: December 31, 2016 December 31, 2015 December 31, 2014 (Dollars in thousands) Interest rate caps $ — $ (177 ) $ (366 ) Home Savings periodically enters into written and purchased option derivative instruments to facilitate an equity linked time deposit product (the Power CD). The Power CD is a time deposit that provides the purchaser a guaranteed return of principal at maturity plus a potential equity return (a written option), while Home Savings receives a known stream of funds based on the equity return (a purchased option). The written and purchased options are mirror derivative instruments which are carried at fair value on the consolidated statements of financial condition. Summary information about purchased and written options is as follows: December 31, 2016 December 31, 2015 (Dollars in thousands) Notion amount of purchased/written option $ 13,789 $ 13,468 Weighted average maturity 3.9 years 4.8 years Fair value of purchased/written option $ 882 $ 805 Purchased and written options are mirror derivative instruments and as such the changes in fair value are recorded through noninterest income, and offset each other. These options increased in value $77,000 in 2016. The following table reflects the fair value and location in the consolidated statement of financial condition of interest rate caps, along with purchased and written certificates of deposit options: Included in other assets: December 31, 2016 December 31, 2015 (Dollars in thousands) Freestanding derivative assets not designated as hedges: Interest rate caps $ — $ 3 Purchased certificate of deposit option 882 805 Included in other liabilities: December 31, 2016 December 31, 2015 (Dollars in thousands) Freestanding derivative liabilities not designated as hedges: Written certificate of deposit option $ 882 $ 805 Home Savings is subject to counterparty risk. Counterparty risk is the risk to Home Savings that the counterparty will not live up to its contractual obligations. The ability of Home Savings to realize the benefit of the derivative contracts is dependent on the creditworthiness of the counterparty, which Home Savings expects will perform in accordance with the terms of the contracts. |
PARENT COMPANY FINANCIAL STATEM
PARENT COMPANY FINANCIAL STATEMENTS | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
PARENT COMPANY FINANCIAL STATEMENTS | 21. PARENT COMPANY FINANCIAL STATEMENTS Condensed Statements of Financial Condition December 31, 2016 2015 (Dollars in thousands) Assets Cash and deposits with banks $ 25,924 $ 21,163 Total cash and cash equivalents 25,924 21,163 Investment in subsidiary-Home Savings 216,475 220,873 Investment in subsidiary-HSB Capital LLC 3,014 — Investment in subsidiary-HSB Insurance LLC 2,168 — Other assets 2,878 2,395 Total assets $ 250,459 $ 244,431 Liabilities and Shareholders’ Equity Accrued expenses and other liabilities $ 653 $ 186 Total liabilities 653 186 Total shareholders’ equity 249,806 244,245 Total liabilities and shareholders’ equity $ 250,459 $ 244,431 Condensed Statements of Income and Comprehensive Income Year ended December 31, 2016 2015 2014 (Dollars in thousands) Income Interest income $ — $ — $ 8 Non-interest income — — 331 Total income — — 339 Expenses Non-interest expenses 1,658 1,017 867 Total expenses 1,658 1,017 867 Loss before income taxes (1,658 ) (1,017 ) (528 ) Income tax benefit (481 ) (356 ) (2,035 ) Income (loss) before equity in undistributed net earnings of subsidiaries (1,177 ) (661 ) 1,507 Earnings distributed by subsidiaries 23,500 15,000 — Undistributed earnings (loss) of subsidiaries (3,495 ) 1,943 48,699 Net income $ 18,828 $ 16,282 $ 50,206 Comprehensive income $ 17,008 $ 17,060 $ 71,873 Condensed Statements of Cash Flows Year ended December 31, 2016 2015 2014 (Dollars in thousands) Cash Flows from Operating Activities Net income $ 18,828 $ 16,282 $ 50,206 Adjustments to reconcile net income to net cash provided by operating activities: Decrease (increase) in undistributed earnings of the subsidiaries 3,495 (1,943 ) (48,699 ) Increase in deferred tax assets (481 ) (356 ) (1,996 ) Decrease in other assets 16 4 — Net gains on securities sales — — (331 ) Increase (decrease) in other liabilities 154 86 (535 ) Net cash from operating activities 22,012 14,073 (1,355 ) Cash Flows from Investing Activities Sales of: Securities available for sale — — 431 Equity investment in HSB Capital LLC (3,000 ) — — Net cash from investing activities (3,000 ) — 431 Cash Flows from Financing Activities Issuance of preferred stock — — — Issuance of common stock, net of issuance costs — — — Purchase of treasury stock (9,596 ) (10,333 ) (6,389 ) Dividends paid (5,172 ) (3,369 ) (1,001 ) Proceeds from the exercise of stock options 517 28 172 Net cash from financing activities (14,251 ) (13,674 ) (7,218 ) Change in cash and cash equivalents 4,761 399 (8,142 ) Cash and cash equivalents, beginning of year 21,163 20,764 28,906 Cash and cash equivalents, end of year $ 25,924 $ 21,163 $ 20,764 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | 22. SEGMENT INFORMATION The Company’s management monitors the revenue streams of the various Company products and services. The identifiable segments are not material, operations are managed, and financial performance is evaluated on a Company-wide basis. All of Home Savings’ financial service operations are considered by management to be aggregated in one reportable operating segment, which is banking services. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | 23. EARNINGS PER SHARE Earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares determined for the basic computation plus the dilutive effect of potential common shares that could be issued under outstanding stock options and performance share units. There were no stock options that were anti-dilutive for the year ended December 31, 2016. Stock options for 76,317 and 74,869 shares were anti-dilutive for the year ended December 31, 2015 and 2014, respectively. Twelve months ended December 31, 2016 2015 2014 (In thousands, except per share data) Net income per consolidated statements of income $ 18,828 $ 16,282 $ 50,206 Net income allocated to participating securities (121 ) (81 ) (209 ) Net income allocated to common stock $ 18,707 $ 16,201 $ 49,997 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 5,140 $ 3,350 $ 1,001 Undistributed earnings allocated to common stock 13,567 12,851 48,996 Net earnings allocated to common stock $ 18,707 $ 16,201 $ 49,997 Weighted average common shares outstanding, including shares considered participating securities 46,967 48,320 50,125 Less: Average participating securities (301 ) (242 ) (208 ) Weighted average shares 46,666 48,078 49,917 Basic earnings per common share $ 0.40 $ 0.34 $ 1.00 Diluted earnings per common share computation: Net earnings allocated to common stock $ 18,707 $ 16,201 $ 49,997 Weighted average common shares outstanding for basic earnings per common share 46,666 48,078 49,917 Add: Dilutive potential common shares 371 272 251 Weighted average shares and dilutive potential common shares 47,037 48,350 50,168 Diluted earnings per common share $ 0.40 $ 0.34 $ 1.00 |
QUARTERLY FINANCIAL INFORMATION
QUARTERLY FINANCIAL INFORMATION | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
QUARTERLY FINANCIAL INFORMATION | 24. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following table presents summarized quarterly data for each of the years indicated. Unaudited First Second Third Fourth 2016: Quarter Quarter Quarter Quarter Total (Dollars in thousands, except per share data) Interest income $ 17,020 $ 17,399 $ 17,815 $ 18,495 $ 70,729 Interest expense 2,147 2,065 2,055 2,161 8,428 Net interest income 14,873 15,334 15,760 16,334 62,301 Provision for loan losses 2,155 395 1,344 1,493 5,387 Net interest income after provision for loan losses 12,718 14,939 14,416 14,841 56,914 Non-interest income 4,658 5,780 6,003 5,635 22,076 Non-interest expenses 12,464 12,860 12,978 13,717 (1) 52,019 Income before taxes 4,912 7,859 7,441 6,759 26,971 Income tax expense 1,592 2,529 2,288 1,734 8,143 Net income $ 3,320 $ 5,330 $ 5,153 $ 5,025 $ 18,828 Earnings per share: Basic earnings $ 0.07 $ 0.11 $ 0.11 $ 0.11 $ 0.40 Diluted earnings 0.07 0.11 0.11 0.11 0.40 1. Non-interest expense was higher for the fourth quarter of 2016 as a result of the recognition of $787,000 in merger related expenses associated with the Ohio Legacy acquisition discussed above. Unaudited First Second Third Fourth 2015: Quarter Quarter Quarter Quarter Total (Dollars in thousands, except per share data) Interest income $ 16,034 $ 16,111 $ 16,654 $ 16,836 $ 65,635 Interest expense 2,154 2,260 2,353 2,346 9,113 Net interest income 13,880 13,851 14,301 14,490 56,522 Provision for loan losses (184 ) 753 673 893 2,135 Net interest income after provision for loan losses 14,064 13,098 13,628 13,597 54,387 Non-interest income 4,118 5,275 4,873 5,451 19,717 Non-interest expenses 12,681 12,208 12,285 12,755 (1) 49,929 Income before taxes 5,501 6,165 6,216 6,293 24,175 Income tax expense (benefit) 1,815 2,040 2,073 1,965 7,893 Net income $ 3,686 $ 4,125 $ 4,143 $ 4,328 $ 16,282 Earnings per share: Basic earnings $ 0.07 $ 0.08 $ 0.09 $ 0.09 $ 0.34 Diluted earnings 0.07 0.08 0.09 0.09 0.34 1. Non-interest expense was higher for the fourth quarter of 2015 as a result of the Company incurring a $1.3 million prepayment penalty for the repayment of a high-cost repurchase agreement. Partially offsetting this expense was a decrease in salaries and employee benefits, which was due to organizational restructuring and modification of certain employee benefit plans. |
QUALIFIED AFFORDABLE HOUSING PR
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS | 12 Months Ended |
Dec. 31, 2016 | |
Federal Home Loan Banks [Abstract] | |
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS | 25. QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company invests in qualified affordable housing projects. At December 31, 2016, and 2015, the balance of the investment for qualified affordable housing projects was $3.0 million and $0, respectively. These balances are reflected in other assets on the consolidated balance sheet. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $2.9 million and $0 at December 31, 2016, and 2015, respectively. The Company expects to fulfill these commitments during the year ending 2017. During the year ended December 31, 2016 the Company recognized amortization expense of $21,000, which was included within income tax expense on the consolidated statements of income and the Company recognized no amortization expense for the years ended December 31, 2015 and 2014. . Additionally, during the years ended December 31, 2016 and 2015, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $26,000 and $0, respectively. During the years ending December 31, 2016 and 2015, the Company incurred no impairment losses. |
SUMMARY OF SIGNIFICANT ACCOUN34
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations The business of Home Savings is providing consumer and business banking service to its market area in Ohio, western Pennsylvania and West Virginia. At the end of 2016, Home Savings was doing business through 31 full service banking branches and 12 loan production centers. Loans and deposits are primarily generated from the areas where banking branches are located. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the market area. Home Savings derives its income predominantly from interest on loans, securities, and to a lesser extent, non-interest income. Home Savings’ principal expenses are interest paid on deposits and Federal Home Loan Bank advances, loan loss provisions and normal operating costs. HSB Insurance, LLC d/b/a James & Sons Insurance is an insurance agency that offers a wide variety of insurance products for business and residential customers, which include, auto, homeowners, life-health, commercial, surety bonds, and aviation. HSB Capital, LLC was formed by United Community during 2016 for the purpose of providing mezzanine funding for customers. Mezzanine loans are offered to customers in United Community’s market area and are expected to be repaid from the cash flow from operations of businesses. |
Basis of Presentation | Basis of Presentation The consolidated financial statements include the accounts of United Community and its subsidiaries. All material inter-company transactions have been eliminated. Certain prior period data has been reclassified to conform to current period presentation. These reclassifications had no effect on prior net income or shareholders’ equity . |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ. |
Cash Flows | Cash Flows For purposes of the statement of cash flows, United Community considers all highly liquid investments with a term of three months or less to be cash equivalents. Net cash flows are reported for loan and deposit transactions, short-term borrowings and advance payments by borrowers for taxes and insurance. |
Securities | Securities Securities are classified as available for sale, held to maturity or trading upon their acquisition. Securities are classified as available for sale when they might be sold before maturity. Securities classified as available for sale are carried at estimated fair value with the unrealized holding gain or loss reported in other comprehensive income, net of tax. Securities classified as held to maturity are carried at amortized cost when management has the positive intent and ability to hold them to maturity. Equity securities with readily determinable fair values are classified as available for sale. Restricted securities such as FHLB stock are carried at cost. Interest income includes amortization of purchase premium or discount on debt securities. Premiums or discounts are amortized on the level-yield method without anticipating prepayments. Gains and losses on sales are recorded on the trade date and are determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (OTTI) at least quarterly, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of OTTI is recognized through earnings. |
Loans Held for Sale | Loans Held for Sale Loans held for sale primarily consist of residential mortgage loans originated for sale and other loans that have been identified for sale. If the fair value option has not been elected, the loans are carried at the lower of cost or fair value, determined in the aggregate. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans held for sale, for which the fair value option has been elected, are recorded at fair value as of each balance sheet date with the change in fair value recorded in earnings. The fair value of the Company’s construction perm loans held for sale is 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. The fair value of conventional residential one-to four-family loans held for sale which the fair value option has been elected is determined based on quoted prices for similar loans in active markets. Beginning January 1, 2016, The Company elected the fair value option for almost all loans held for sale. Mortgage loans held for sale are sold with either servicing rights retained or servicing released. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. |
Loans | Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the outstanding principal balance, net of purchase premiums or discounts, deferred loan fees and costs and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. Interest income includes amortization of net deferred loan fees and costs. Loan fees and costs associated with origination of loans are deferred and amortized to interest income over the contractual lives of the loans using the level yield method. Fees received for loan commitments that are expected to be drawn, based on Home Savings’ experience with similar commitments, are deferred and amortized over the lives of the loans using the level-yield method. Fees for other loan commitments are deferred and amortized over the loan commitment period on a straight-line basis. Unamortized deferred loan fees or costs related to loans paid off are included in income. Unamortized net fees or costs on loans sold are included in the basis of the loans in calculating gains and losses. The accrual of interest income and amortization of net deferred fees on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the loan is both well secured and in the process of collection. Consumer loans are typically charged-off no later than 180 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. All interest accrued but not received for a loan placed on nonaccrual is reversed against interest income. Once a loan is on nonaccrual, it will remain on nonaccrual until the loan becomes current and the borrower demonstrates the ability to pay the loan per the contractual terms for a minimum of six months. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when future payments are reasonably assured. Home Savings determines the past due status of loans based on the number of calendar months the loan is past due. Impaired loans consist of loans that are non-homogenous and in a nonaccrual status; loans considered troubled debt restructurings and loans that have been individually analyzed for impairment. Residential mortgage loans. Residential mortgage loans are revalued at the time they reach 180 days past due and any portion of the principal that exceeds the fair value is charged-off. Mortgage loans are considered to be homogenous until the loan is individually evaluated at 180 days past due and charged-down to the fair value of the underlying collateral, at which time the loan becomes non-homogenous and is considered impaired. Residential mortgage loans that have been modified and determined to be a troubled debt restructuring (TDR) are revalued based upon the present value of the modified cash flows of the loan to establish a specific reserve on that loan. Consumer loans. Consumer loans that are secured by residential real estate are revalued once they reach 180 days past due and charged-down to the fair value if necessary. Consumer loans that are not secured by residential real estate are revalued once they reach 120 days past due and are charged-down to the fair value if necessary. Consumer loans are considered to be homogenous until the loan is individually evaluated and charged-down to the fair value of the underlying collateral, at which time the loan becomes non-homogenous and is considered impaired. Consumer loans that have been modified and determined to be a TDR are revalued based upon the present value of the modified cash flows of the loan to establish a specific reserve on that loan. Commercial loans. A commercial real estate loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. At this time the loan is charged-down to the fair value. Commercial and industrial loans are impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The repayment of commercial loans typically is dependent on the income stream and successful operation of a business. If there is no underlying collateral to value, the company will calculate the present value of expected future cash flows to determine the amount of impairment, if any. |
Concentration of Credit Risk | Concentration of Credit Risk Most of the Company’s business activity is with customers located within Home Savings’ market area. Therefore, the Company’s exposure to credit risk is significantly affected by changes in the economy in Ohio, Western Pennsylvania and Northern West Virginia. |
Allowance for Loan Losses | Allowance for Loan Losses 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. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired or loans otherwise classified as substandard or doubtful. The general component covers non-classified loans and is based on historical loss experience adjusted for current factors. 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, looking back 18 quarters as of December 31, 2016. In determining the qualitative component, 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. The quantitative and qualitative components are combined to arrive at the loss factor, which is applied to the average outstanding balance of homogenous loans. At December 31, 2015, the Company evaluated 12 quarters of net charge-off history. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired loans are individually evaluated based on the borrower’s ability to repay the loan given the availability of collateral, other sources of cash flow and legal options available to Home Savings. Once a review is completed, a specific reserve is determined and allocated to the loan. These specific reserves on individual loans are reviewed periodically and adjusted as necessary based on subsequent collection, loan upgrades or downgrades, nonperforming trends or actual principal charge-offs. Loans for which the terms have been modified, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the facts and circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. Troubled debt restructurings (TDRs) are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDRs that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The Bank’s portfolio has the following segments: commercial, which includes commercial real estate secured loans, residential mortgage loans and consumer loans. Residential mortgage loans are made to customers in Home Savings’ market area. These loans are secured by the underlying real estate as collateral. Repayment of these loans is dependent on general economic conditions and unemployment levels in Home Savings’ market area. To reduce any risk on loans secured by one-to four-family residences, Home Savings underwrites all portfolio loans to Freddie Mac underwriting guidelines. Consumer loans primarily consist of home equity loans. Similar to residential mortgage loans, repayment of consumer loans depends on the general economic conditions and unemployment levels in Home Savings’ market area. The majority of Home Savings’ consumer loans consist of closed-end home equity loans in an amount that, when added to the prior indebtedness secured by the real estate, does not exceed 90% of the estimated value of the real estate. Other consumer loans, such as automobiles and recreational vehicles, have a higher degree of risk than home equity loans as the collateral depreciates at a faster rate. Multifamily and nonresidential real estate loans generally have a higher degree of risk than loans secured by one-to four-family residences. These riskier loans can be affected by economic conditions, operating expenses, debt service and successful operation of income-producing properties. Home Savings tries to reduce this risk by evaluating the credit history of the borrower, location of the real estate, the financial condition of the borrower, obtaining personal guarantees of the principals, the characteristics of the income stream generated by the property and the appraisal supporting the property. Commercial loans generally entail greater risk than real estate lending. The repayment of commercial loans typically is dependent on the income stream and successful operation of a business, which can be affected by economic conditions. The collateral for commercial loans, if any, often consists of rapidly depreciating assets. Construction loans involve a higher degree of underwriting and default risk than loans secured by mortgages on existing properties because construction loans are more difficult to appraise and to monitor. Loan funds are advanced based upon the status of the project under construction. |
Servicing Assets | Servicing Assets Servicing assets are recognized as separate assets when rights are acquired through the purchase or sale of financial assets. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Capitalized servicing rights are reported in other assets and are amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying assets. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as original maturity, interest rate and loan type. Impairment is recognized through a valuation allowance for an individual tranche. If Home Savings later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may be recorded as an increase to income. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of mortgage servicing rights is shown separately in non-interest income. |
Transfers of Financial Assets | Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. |
Real Estate Owned and Other Repossessed Assets | Real Estate Owned and Other Repossessed Assets Real estate owned, including property acquired in settlement of foreclosed loans, is initially transferred at fair value less estimated cost to sell after foreclosure, establishing a new cost basis. Physical possession of residential real estate property collateralizing a residential mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines after acquisition, a valuation allowance is recorded through expense. Costs relating to the development and improvement of real estate owned are capitalized, whereas costs relating to holding and maintaining the properties are charged to expense. Other repossessed assets are carried at estimated fair value less estimated cost to sell after acquisition. |
Premises and Equipment | Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation and amortization. Buildings and related components are depreciated and amortized using the straight-line method over the useful lives, generally ranging from 20 years to 40 years (or term of the lease, if shorter) of the related assets. Furniture and fixtures are depreciated using the straight-line method with useful lives ranging from three to five years. |
Federal Home Loan Bank (FHLB) stock | Federal Home Loan Bank (FHLB) stock The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. |
Cash Surrender Value of Life Insurance | Cash Surrender Value of Life Insurance Life insurance is carried on the lives of certain employees where Home Savings is the beneficiary. Life insurance is recorded at its cash surrender value, or the amount currently realizable. Increases in the Home Savings’ policy cash surrender value are tax exempt and death benefit proceeds received by Home Savings are tax-free. Income from these policies and changes in the cash surrender value are recorded in other income. The policies contain no split dollar or postretirement benefits for covered employees. |
Goodwill and Other Intangible Assets | Goodwill and other Intangible Assets Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interest in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually or more frequently if events and circumstances exists that indicate that a goodwill impairment test should be performed. The Company has selected December 31 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on our balance sheet. Other intangible assets consist of core deposit and customer list intangibles. Core deposit intangible assets arose from whole bank acquisitions. They were initially measured at fair value and are being amortized on an accelerated method over their estimated useful lives. Customer list intangible arose from the acquisition of James & Sons Insurance in January 2016 and will be amortized on an accelerated basis over its estimated useful life of 10 years. |
Derivatives | Derivatives At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand-alone derivative”). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For both types of hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. |
Mortgage Banking Derivatives | Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in the fair values of these derivatives are included in mortgage banking income on the consolidated statements of operations and comprehensive income. |
Long-term Assets | Long-term Assets Premises and equipment and other long–term assets are reviewed for impairment when events indicate their carrying amounts may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. |
Stock Compensation | Stock Compensation Compensation cost is recognized for stock options and restricted stock awards issued to employees and nonemployee directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Corporation’s common shares at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, Compensation - Stock Compensation. |
Income Taxes | Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax basis of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. |
401(k) Savings Plan | 401(k) Savings Plan Employee 401(k) and profit sharing plan expense is the amount of matching contributions and administrative costs to administer the plan. |
Postretirement Benefit Plans | Postretirement Benefit Plans In addition to Home Savings’ retirement plans, Home Savings sponsors a defined benefit health care plan that was curtailed in 2000 to provide postretirement medical benefits for employees who worked 20 years and attained a minimum age of 60 by September 1, 2000, while in service with Home Savings. That modified plan was further curtailed in 2015, and medical benefits are no longer provided to plan participants as of December 31, 2016 and the plan was terminated and settled. The plan is unfunded and, as such, has no assets. Furthermore, the plan is contributory and contains minor cost-sharing features such as deductibles and coinsurance. In addition, postretirement life insurance coverage is provided for employees who were participants prior to December 10, 1976. The life insurance plan is non-contributory. Home Savings’ policy is to pay premiums monthly, with no pre-funding. This plan was terminated and settled with participants in 2016. The benefit obligation is measured annually by a third-party actuary. |
Dividend Restriction | Dividend Restriction Banking regulations require maintaining certain capital levels and may limit the dividends paid by the bank to the holding company or by the holding company to shareholders. |
Earnings Per Share | Earnings Per Share Basic earnings per common share is net income available to common shareholders divided by the weighted average number of common shares outstanding during the period. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities for this calculation. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options. |
Loss Contingencies | Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. See further discussion at Note 13. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 18. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. |
Comprehensive Income (Loss) | Comprehensive Income (Loss) Comprehensive income (loss) consists of net income and unrealized gains and losses on securities available for sale and changes in unrealized gains and losses on postretirement liabilities, which are also recognized as separate components of equity, net of tax. |
Off Balance Sheet Financial Instruments | Off Balance Sheet Financial Instruments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. |
Operating Segments | Operating Segments While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating results are not reviewed by senior management to make resource allocation or performance decisions. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. |
Revenue from Contracts with Customers | In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) – Deferral of the Effective Date |
Recognition and Measurement of Financial Assets and Financial Liabilities | In January 2016, the FASB issued ASU 2016-01 , Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2017. Management is currently evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements and expects revisions to disclosures included in the consolidated financial statements. |
Leases | In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) |
Measurement of Credit Losses on Financial Instruments | In June 2016, FASB Issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Classification of Certain Cash Receipts and Cash Payments | In August 2016, FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments 1. Debt prepayment or debt extinguishment costs. 2. Settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing. 3. Contingent consideration payments made after a business combination. 4. Proceeds from the settlement of insurance claims. 5. Proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies. 6. Distributions received from equity method investees. 7. Beneficial interests in securitization transactions. 8. Separately identifiable cash flows and application of the predominance principle. For public business entities, the guidance in the ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for all entities. Entities must apply the guidance retrospectively to all periods presented but may apply it prospectively from the earliest date practicable if retrospective application would be impracticable. Management is currently evaluating the impact of the adoption of this guidance on the Company’s consolidated financial statements. |
SUBSEQUENT EVENTS (Tables)
SUBSEQUENT EVENTS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
OLCB [Member] | |
Subsequent Event [Line Items] | |
Summary of Consideration Paid | The following table summarizes the consideration paid for OLCB. (in thousands) Cash $ 19,959 United Community shares issued 25,816 Total fair value of consideration paid $ 45,775 |
SECURITIES (Tables)
SECURITIES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Components of Securities Available for Sale | The components of securities available for sale are as follows: December 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 $ 188,082 $ 172 $ (2,221 ) $ 186,033 States of the U.S. and political subdivisions 59,415 3 (1,661 ) 57,757 Mortgage-backed GSE securities: residential 100,602 50 (1,158 ) 99,494 Total $ 348,099 $ 225 $ (5,040 ) $ 343,284 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 Securities Held to Maturity | The components of securities held to maturity are as follows: December 31, 2016 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed GSE securities: residential $ 85,065 $ — $ (1,300 ) $ 83,765 States of the U.S. and political subdivisions 12,454 17 (86 ) 12,385 Total $ 97,519 $ 17 $ (1,386 ) $ 96,150 December 31, 2015 Gross Gross Amortized unrealized unrealized 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 |
Summary of Proceeds, Gross Realized Gains, Losses and Impairment Charges of Available for Sale Securities | Proceeds, gross realized gains, losses and impairment charges of available for sale securities were as follows: 2016 2015 2014 (Dollars in thousands) Proceeds $ 33,701 $ 16,627 $ 14,595 Gross gains 604 142 444 Gross losses — — — |
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: December 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 188,499 186,446 Due after ten years 58,998 57,344 Mortgage-backed GSE securities: residential 100,602 99,494 Total $ 348,099 $ 343,284 |
Securities Available for Sale and Held to Maturity in Unrealized Loss Position | Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows at December 31, 2016: Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized loss value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ 171,411 $ (2,221 ) $ — $ — $ 171,411 $ (2,221 ) States of the U.S. and political subdivisions 53,283 (1,661 ) — — 53,283 (1,661 ) Mortgage-backed GSE securities: residential 98,775 (1,158 ) — — 98,775 (1,158 ) Total temporarily impaired securities $ 323,469 $ (5,040 ) $ — $ — $ 323,469 $ (5,040 ) 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 at December 31, 2015: Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized loss value Loss value Loss value Loss (Dollars in thousands) Description of securities: 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: December 31, 2016 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ 3,200 $ 3,210 Due after one year through five years — — Due after five years through ten years 4,760 4,722 Due after ten years 4,494 4,453 Mortgage-backed GSE securities: residential 85,065 83,765 Total $ 97,519 $ 96,150 |
Securities Available for Sale and Held to Maturity in Unrealized Loss Position | Securities held to maturity that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows at December 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 $ 57,340 $ (1,243 ) $ 26,426 $ (1,287 ) $ 83,766 $ (2,530 ) States of the U.S. and political subdivisions 7,416 (86 ) — — 7,416 (86 ) Total temporarily impaired securities $ 64,756 $ (1,329 ) $ 26,426 $ (1,287 ) $ 91,182 $ (2,616 ) Securities held to maturity that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows at 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 ) Total temporarily impaired securities $ 22,723 $ (289 ) $ 76,396 $ (2,390 ) $ 99,119 $ (2,679 ) |
LOANS (Tables)
LOANS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Schedule of Portfolio of Loans | Portfolio loans consist of the following: December 31, December 31, 2016 2015 (Dollars in thousands) Commercial loans Multifamily $ 93,597 $ 80,170 Nonresidential 231,401 175,456 Land 8,373 9,301 Construction 68,158 38,812 Secured 95,343 63,182 Unsecured 7,386 2,831 Total commercial loans 504,258 369,752 Residential mortgage loans One-to four-family 762,926 733,685 Construction 35,695 40,898 Total residential mortgage loans 798,621 774,583 Consumer loans Home equity 165,054 161,338 Auto 39,609 11,348 Marine 1,796 2,699 Recreational vehicle 7,602 10,656 Other 2,537 2,217 Total consumer loans 216,598 188,258 Total loans 1,519,477 1,332,593 Less: Allowance for loan losses 19,087 17,712 Deferred loan fees, net (3,187 ) (1,311 ) Total 15,900 16,401 Loans, net $ 1,503,577 $ 1,316,192 |
Number of Outstanding Commitments to Extend Credit | Home Savings normally has a number of outstanding commitments to extend credit. December 31, 2016 2015 Fixed Rate Variable Rate Fixed Rate Variable Rate (Dollars in thousands) Commitments to make loans $ 74,927 $ 40,908 $ 44,957 $ 33,384 Undisbursed loans in process 5,450 130,566 674 111,738 Unused lines of credit 8,538 156,032 10,162 115,812 |
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 based on impairment method as of December 31, 2016 and December 31, 2015 and activity for the years ended December 31, 2016, 2015 and 2014. Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) 2016 Beginning balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 Provision 5,611 (464 ) 240 5,387 Charge-offs (3,722 ) (761 ) (1,151 ) (5,634 ) Recoveries 858 133 631 1,622 Ending balance $ 10,824 $ 5,538 $ 2,725 $ 19,087 Period-end amount allocated to: Loans individually evaluated for impairment $ 1,271 $ 1,245 $ 500 $ 3,016 Loans collectively evaluated for impairment 9,553 4,293 2,225 16,071 Ending balance $ 10,824 $ 5,538 $ 2,725 $ 19,087 Period-end balances: Loans individually evaluated for impairment $ 6,018 $ 17,485 $ 8,045 $ 31,548 Loans collectively evaluated for impairment 498,240 781,136 208,553 1,487,929 Ending balance $ 504,258 $ 798,621 $ 216,598 $ 1,519,477 Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) 2015 Beginning balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 Provision 2,922 (974 ) 187 2,135 Charge-offs (1,268 ) (1,301 ) (1,257 ) (3,826 ) Recoveries 733 388 595 1,716 Ending balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 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 Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) 2014 Beginning balance $ 6,984 $ 9,830 $ 4,302 $ 21,116 Provision (649 ) (550 ) (72 ) (1,271 ) Charge-offs (1,656 ) (1,005 ) (1,578 ) (4,239 ) Recoveries 1,011 242 828 2,081 Ending balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 |
Presentation of Loans Individually Evaluated for Impairment by Class | The following table presents loans individually evaluated for impairment by class of loans for the year ended December 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 $ 55 $ — $ — $ — $ — $ — Nonresidential 2,278 1,489 — 544 102 101 Land 3,922 34 — 234 — — Construction 3,594 — — - — — Secured 242 190 — 2,823 — — Unsecured 713 — — — 7 7 Total commercial loans 10,804 1,713 — 3,601 109 108 Residential mortgage loans One-to four-family 8,736 6,758 — 6,272 195 177 Construction — — — — — — Total residential mortgage loans 8,736 6,758 — 6,272 195 177 Consumer loans Home equity 2,159 1,583 — 1,382 66 64 Auto 11 3 — 7 — — Marine 585 267 — 293 1 1 Recreational vehicle 433 120 — 251 13 13 Other — — — 2 1 1 Total consumer loans 3,188 1,973 — 1,935 81 79 Total $ 22,728 $ 10,444 $ — $ 11,808 $ 385 $ 364 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential 6,930 4,133 1,193 7,698 143 142 Land — — — — — — Construction — — — — — — Secured 237 172 78 654 — — Unsecured — — — — — — Total commercial loans 7,167 4,305 1,271 8,352 143 142 Residential mortgage loans One-to four-family 10,810 10,727 1,245 11,898 497 457 Construction — — — — — — Total residential mortgage loans 10,810 10,727 1,245 11,898 497 457 Consumer loans Home equity 5,390 5,335 426 6,117 310 293 Auto — — — — — — Marine 108 108 1 144 6 6 Recreational vehicle 639 629 73 691 26 26 Other — — — — — — Total consumer loans 6,137 6,072 500 6,952 342 325 Total 24,114 21,104 3,016 27,202 982 924 Total impaired loans $ 46,842 $ 31,548 $ 3,016 $ 39,010 $ 1,367 $ 1,288 The following table presents loans individually evaluated for impairment by class of loans as of and for the year ended December 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 $ 165 $ — $ — $ 21 $ 4 $ 4 Nonresidential 1,215 306 — 1,389 6 6 Land 3,922 384 — 474 — — Construction 3,593 — — 69 — — Secured 3,884 3,700 — 3,700 — — Unsecured 1,132 — — — — — Total commercial loans 13,911 4,390 — 5,653 10 10 Residential mortgage loans One-to four-family 7,607 5,866 — 4,710 156 149 Construction — — — — — — Total residential mortgage loans 7,607 5,866 — 4,710 156 149 Consumer loans Home equity 2,245 1,718 — 1,491 31 29 Auto 20 14 — 22 — — Marine 496 271 — 280 2 2 Recreational vehicle 121 78 — 70 4 4 Other 3 3 — 1 — — Total consumer loans 2,885 2,084 — 1,864 37 35 Total $ 24,403 $ 12,340 $ — $ 12,227 $ 203 $ 194 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ 21 $ — $ — Nonresidential 5,164 4,984 565 5,659 119 117 Land — — — — — — Construction — — — 379 — — Secured 324 324 3 324 — — Unsecured — — — — — — Total commercial loans 5,488 5,308 568 6,383 119 117 Residential mortgage loans One-to four-family 13,482 13,482 1,541 14,324 592 539 Construction — — — — — — Total residential mortgage loans 13,482 13,482 1,541 14,324 592 539 Consumer loans Home equity 7,236 7,236 522 8,346 402 381 Auto — — — 2 — — Marine 163 163 3 41 7 7 Recreational vehicle 1,122 1,122 181 783 33 33 Other 8 8 1 2 1 1 Total consumer loans 8,529 8,529 707 9,174 443 422 Total 27,499 27,319 2,816 29,881 1,154 1,078 Total impaired loans $ 51,902 $ 39,659 $ 2,816 $ 42,108 $ 1,357 $ 1,272 The following table presents loans individually evaluated for impairment by class of loans for the year ended December 31, 2014: Impaired Loans (Dollars in thousands) Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 87 $ — $ — Nonresidential 4,248 260 256 Land 521 — — Construction 552 — — Secured 3,706 — — Unsecured — — — Total commercial loans 9,114 260 256 Residential mortgage loans One-to four-family 5,287 83 77 Construction — — — Total residential mortgage loans 5,287 83 77 Consumer loans Home equity 1,757 29 29 Auto 66 1 1 Marine 155 — — Recreational vehicle 181 4 3 Other 3 — — Total consumer loans 2,162 34 33 Total $ 16,563 $ 377 $ 366 With a specific allowance recorded Commercial loans Multifamily $ 293 $ — $ — Nonresidential 2,408 — — Land — — — Construction 1,682 — — Secured 324 — — Unsecured — — — Total commercial loans 4,707 — — Residential mortgage loans One-to four-family 15,039 607 561 Construction — — — Total residential mortgage loans 15,039 607 561 Consumer loans Home equity 10,007 494 470 Auto 8 — — Marine — — — Recreational vehicle 765 24 23 Other — — — Total consumer loans 10,780 518 493 Total 30,526 1,125 1,054 Total impaired loans $ 47,089 $ 1,502 $ 1,420 |
Loans in Process of Foreclosure | The table below presents loans that are in the process of foreclosure at December 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: December 31, 2016 December 31, 2015 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment Mortgage loans in the process of foreclosure $ 3,025 $ 2,576 $ 1,294 $ 1,162 Consumer loans in the process of foreclosure 1,069 795 845 643 |
Presentation of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days and Still on Accrual by Class of Loans | The following tables present the recorded investment in nonaccrual and loans past due over 90 days and still on accrual by class of loans as of December 31, 2016: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of December 31, 2016 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ — $ — Nonresidential 3,546 — Land 34 — Construction — — Secured 361 — Unsecured — — Total commercial loans 3,941 — Residential mortgage loans One-to four-family 6,084 — Construction — — Total residential mortgage loans 6,084 — Consumer Loans Home equity 1,936 — Auto 31 — Marine 267 — Recreational vehicle 178 — Other 2 — Total consumer loans 2,414 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 12,439 $ — The following tables present 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 tables present an age analysis of past-due loans, segregated by class of loans as of December 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 $ — $ — $ — $ — $ 93,597 $ 93,597 Nonresidential 3,511 — 61 3,572 227,829 231,401 Land — — 34 34 8,339 8,373 Construction — — — — 68,158 68,158 Secured — — 361 361 94,982 95,343 Unsecured — — — — 7,386 7,386 Total commercial loans 3,511 — 456 3,967 500,291 504,258 Residential mortgage loans One-to four-family 3,774 1,717 5,461 10,952 751,974 762,926 Construction — — — — 35,695 35,695 Total residential mortgage loans 3,774 1,717 5,461 10,952 787,669 798,621 Consumer Loans: Home equity 941 458 1,669 3,068 161,986 165,054 Automobile 130 — 3 133 39,476 39,609 Marine — — 267 267 1,529 1,796 Recreational vehicle 131 347 — 478 7,124 7,602 Other 1 3 2 6 2,531 2,537 Total consumer loans 1,203 808 1,941 3,952 212,646 216,598 Total loans $ 8,488 $ 2,525 $ 7,858 $ 18,871 $ 1,500,606 $ 1,519,477 The following tables present 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 TDRs | The following table presents loans by class modified as TDRs that occurred during the year ended December 31, 2016: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential 4 6,134 6,140 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 4 6,134 6,140 Residential mortgage loans One-to four-family 8 812 853 Construction — — — Total residential mortgage loans 8 812 853 Consumer loans Home equity 4 178 182 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 4 178 182 Total restructured loans 16 $ 7,124 $ 7,175 The following table presents loans by class modified as TDRs that occurred during the year ended December 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 14 1,283 1,337 Construction — — — Total residential mortgage loans 14 1,283 1,337 Consumer loans Home equity 14 844 845 Auto — — — Marine — — — Recreational vehicle — — — Other 1 28 8 Total consumer loans 15 872 853 Total restructured loans 29 $ 2,155 $ 2,190 The following table presents loans by class modified as TDRs that occurred during the year ended December 31, 2014: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 120 120 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 120 120 Residential mortgage loans One-to four-family 29 2,385 2,447 Construction — — — Total residential mortgage loans 29 2,385 2,447 Consumer loans Home equity 27 1,449 1,452 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 27 1,449 1,452 Total restructured loans 57 $ 3,954 $ 4,019 |
Loans by Class Modified as TDRs with Payment Default | The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the period ended December 31, 2016: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential 1 3,603 Land — — Construction — — Secured — — Unsecured — — Total commercial loans 1 3,603 Residential mortgage loans One-to four-family 1 3 Construction — — Total residential mortgage loans 1 3 Consumer loans Home equity — — Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans — — Total restructured loans 2 $ 3,606 The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the period ended December 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 29 Construction — — Total residential mortgage loans 2 29 Consumer loans Home equity 1 40 Auto — — Marine — — Recreational vehicle — — Other 1 8 Total consumer loans 2 48 Total restructured loans 4 $ 77 The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the period ended December 31, 2014: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 3 440 Construction — — Total residential mortgage loans 3 440 Consumer loans Home equity 2 90 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 2 90 Total restructured loans 5 $ 530 |
Risk Category of Loans by Class of Loans | As of December 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: December 31, 2016 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 89,468 $ 3,564 $ 565 $ — $ — $ 565 $ 93,597 Nonresidential 217,204 6,037 8,160 — — 8,160 231,401 Land 8,339 — 34 — — 34 8,373 Construction 68,158 — — — — — 68,158 Secured 89,756 3,420 2,167 — — 2,167 95,343 Unsecured 7,291 — 95 — — 95 7,386 Total commercial loans 480,216 13,021 11,021 — — 11,021 504,258 Residential mortgage loans One-to four-family 754,996 104 7,826 — — 7,826 762,926 Construction 35,695 — — — — — 35,695 Total residential mortgage loans 790,691 104 7,826 — — 7,826 798,621 Consumer Loans Home equity 163,101 — 1,953 — — 1,953 165,054 Auto 39,577 1 31 — — 31 39,609 Marine 1,530 — 266 — — 266 1,796 Recreational vehicle 7,424 — 178 — — 178 7,602 Other 2,535 — 2 — — 2 2,537 Total consumer loans 214,167 1 2,430 — — 2,430 216,598 Total loans $ 1,485,074 $ 13,126 $ 21,277 $ — $ — $ 21,277 $ 1,519,477 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 |
Loans to Officers and/or Directors | The following describes loans to officers and/or directors of the Company: (Dollars in thousands) Balance as of December 31, 2015 $ 519 New loans to officers and/or directors 543 Loan payments during 2016 (135 ) Reductions due to changes in officers and/or directors — Balance as of December 31, 2016 $ 927 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Mortgage Banking [Abstract] | |
Principal Balance of Mortgage Servicing Rights | Mortgage loans serviced for others are not reported as assets. The principal balance of these loans at year-end are as follows: 2016 2015 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 956,278 $ 878,300 FNMA 208,114 233,026 |
Capitalized Mortgage Servicing Rights | Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Balance, beginning of period $ 5,686 $ 5,535 $ 5,941 Originations 2,478 1,951 1,281 Amortized to expense (2,094 ) (1,800 ) (1,687 ) Balance, end of period 6,070 5,686 5,535 Less valuation allowance — (39 ) (58 ) Net balance $ 6,070 $ 5,647 $ 5,477 |
Valuation Allowance for Mortgage Servicing Rights | Activity in the valuation allowance for mortgage servicing rights was as follows: For the Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Balance, beginning of period $ (39 ) $ (58 ) $ — Impairment charges (727 ) (299 ) (60 ) Recoveries 766 318 2 Balance, end of period $ — $ (39 ) $ (58 ) |
Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights | Key economic assumptions used in measuring the value of mortgage servicing rights at December 31, 2016 and 2015 were as follows: 2016 2015 Weighted average prepayment rate 165 PSA 192 PSA Weighted average life (in years) 6.64 3.47 Weighted average discount rate 9 % 9 % |
OTHER REAL ESTATE OWNED AND O39
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Real Estate [Abstract] | |
Real Estate Owned and Other Repossessed Assets | Real estate owned and other repossessed assets at December 31, 2016 and 2015 was as follows: December 31, December 31, 2016 2015 (Dollars in thousands) Real estate owned and other repossessed assets $ 2,789 $ 3,956 Valuation allowance (1,012 ) (1,229 ) End of period $ 1,777 $ 2,727 |
Valuation Allowance Related to Real Estate Owned | Activity in the valuation allowance was as follows: 2016 2015 2014 (Dollars in thousands) Beginning of year $ 1,229 $ 1,423 $ 4,059 Additions (recoveries) charged to expense (16 ) 287 580 Direct write-downs (201 ) (481 ) (3,216 ) End of year $ 1,012 $ 1,229 $ 1,423 |
Expenses Related to Foreclosed and Repossessed Assets | Expenses related to foreclosed and repossessed assets include: 2016 2015 2014 (Dollars in thousands) Net loss on sales $ 109 $ 158 $ 220 Provision for (recovery of) unrealized losses (16 ) 287 580 Operating expenses, net of rental income 191 338 631 Total Expenses $ 284 $ 783 $ 1,431 |
PREMISES AND EQUIPMENT (Tables)
PREMISES AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property Plant And Equipment [Abstract] | |
Summary of Premises and Equipment | Premises and equipment consist of the following: December 31, 2016 2015 (Dollars in thousands) Land $ 6,993 $ 6,993 Buildings 23,907 23,841 Leasehold improvements 1,222 1,179 Furniture and equipment 26,323 23,861 58,445 55,874 Less: Accumulated depreciation and amortization 37,482 35,196 Total $ 20,963 $ 20,678 |
Component of Rent Commitments under Noncancelable Operating Leases | Rent commitments under noncancelable operating leases for offices were as follows, before considering renewal options that generally are present: (Dollars in thousands) 2017 $ 661 2018 724 2019 726 2020 729 2021 732 Thereafter 942 Total $ 4,514 |
GOODWILL AND OTHER INTANGIBLE41
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Change in Goodwill | The change in goodwill during the year is as follows: December 31, 2016 Beginning of the year $ — Acquired goodwill 208 Impairment — End of the year $ 208 |
Amortization Intangible Assets and Estimated Amortization Expense | Acquired Intangible Assets As of December 31, 2016 2015 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Amortized intangible assets: Core deposit intangibles $ 8,952 $ 8,947 $ 8,952 $ 8,922 Customer list intangible 1,400 44 — — Total $ 10,352 $ 8,991 $ 8,952 $ 8,922 |
Estimated Amortization Expense | Estimated amortization expense for the next five years is as follows: Estimated Amortization Expense 2017 $ 98,000 2018 93,000 2019 93,000 2020 93,000 2021 93,000 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
Components of Deposits | Deposits consist of the following: December 31, 2016 2015 (Dollars in thousands) Checking accounts: Interest bearing $ 158,270 $ 160,264 Non-interest bearing 256,918 227,505 Savings accounts 294,564 280,889 Money market accounts 316,813 312,125 Certificates of deposit 488,426 454,960 Total deposits $ 1,514,991 $ 1,435,743 |
Interest Expense on Deposits | Interest expense on deposits is summarized as follows: December 31, 2016 2015 2014 (Dollars in thousands) Interest bearing demand deposits and money market accounts $ 1,012 $ 1,006 $ 838 Savings accounts 124 161 169 Certificates of deposit 4,786 5,359 5,428 Total $ 5,922 $ 6,526 $ 6,435 |
Summary of Certificates of Deposit by Maturity | A summary of certificates of deposit by maturity follows: December 31, 2016 (Dollars 2017 $ 305,912 2018 94,883 2019 29,294 2020 17,494 2021 19,913 Thereafter 20,930 Total $ 488,426 |
Summary of Certificates of Deposit with Balances of $250000 or More by Maturity | A summary of certificates of deposit with balances greater than $250,000 by maturity is as follows: December 31, 2016 2015 (Dollars in thousands) Three months or less $ 1,552 $ 751 Over three months to six months 10,346 2,067 Over six months to twelve months 35,234 25,668 Over twelve months 14,151 46,779 Total $ 61,283 $ 75,265 |
FEDERAL HOME LOAN BANK ADVANC43
FEDERAL HOME LOAN BANK ADVANCES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
Summary of FHLB Advances | The following is a summary of FHLB advances: December 31, 2016 2015 (Dollars in thousands) Weighted Weighted Year of maturity Amount average rate Amount average rate 2016 $ — — % $ 232,000 0.35 % 2017 343,000 0.64 % — — % 2019 47,756 2.73 % 46,975 2.19 % $ 390,756 0.90 % $ 278,975 0.66 % |
SECURITIES SOLD UNDER AGREEME44
SECURITIES SOLD UNDER AGREEMENT TO REPURCHASE AND OTHER BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
Summary of Securities Sold Under an Agreement to Repurchase and Other Borrowings | The following is a summary of securities sold under an agreement to repurchase and other borrowings: December 31, 2016 2015 (Dollars in thousands) Amount Weighted average rate Amount Weighted average rate Other borrowings 512 4.00 % 535 4.00 % Total borrowings $ 512 4.00 % $ 535 4.00 % |
Summary of Balances and Interest Rates | December 31, 2016 2015 2014 (Dollars in throusands) Average daily balance during the year $ 523 $ 29,891 $ 82,102 Average interest rate during the year 4.00 % 4.19 % 4.10 % Maximum month end balance during the year $ 535 $ 30,556 $ 90,577 Weighted average interest rate at year end 4.00 % 4.00 % 4.00 % |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Components of Income Tax Expense (Benefit) | The income tax expense (benefit) consists of the following components: For the Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Current $ 300 $ 577 $ 89 Deferred 7,843 7,316 2,978 Change in valuation allowance — — (42,802 ) Total $ 8,143 $ 7,893 $ (39,735 ) |
Summary of Difference in Effective Tax Rates and Statutory Federal Income Tax Rate of 35% | Effective tax rates differ from the statutory federal income tax rate of 35% due to the following: For the Year Ended December 31, 2016 2015 2014 Dollars Rate Dollars Rate Dollars Rate (Dollars in thousands) Tax (benefit) at statutory rate $ 9,440 35.0 % $ 8,461 35.0 % $ 3,665 35.0 % Increase (decrease) due to: Tax exempt income (471 ) (1.7 )% (45 ) (0.2 )% — — % Life insurance (523 ) (1.9 )% (602 ) (2.5 )% (500 ) (4.8 )% Other 208 0.7 % 79 0.3 % (98 ) (0.9 )% Disproportionate tax reversal (511 ) (1.9 )% — — % — — % Valuation allowance — — % — — % (42,802 ) (408.8 )% Income tax provision (benefit) $ 8,143 30.2 % $ 7,893 32.6 % $ (39,735 ) -379.5 % |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the deferred tax assets and liabilities are as follows: December 31, 2016 2015 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 6,680 $ 6,199 Postretirement benefits — 564 Depreciation 748 611 Other real estate owned valuation 354 430 Tax credits carryforward 1,471 951 Unrealized loss on securities available for sale 1,685 1,341 Unrealized loss on securities held to maturity 431 517 Interest on nonaccrual loans 1,039 834 Net operating loss carryforward 8,574 16,903 Purchase accounting adjustment — 90 Accrued bonuses 812 723 Other 221 50 Deferred tax assets 22,015 29,213 Deferred tax liabilities: Deferred loan fees 1,275 510 Federal Home Loan Bank stock dividends 4,585 4,585 Mortgage servicing rights 2,124 1,976 FHLB prepayment penalty 786 1,059 Postretirement benefits accrual — 447 Purchase accounting adjustment 371 — Prepaid expenses 139 215 Deferred tax liabilities 9,280 8,792 Net deferred tax asset $ 12,735 $ 20,421 |
SHAREHOLDERS' EQUITY (Tables)
SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Summary of Accumulated Other Comprehensive Income (Loss) to Net Income Balances | The following is a summary of accumulated other comprehensive income (loss) to net income balances: Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) on Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total 2016 (Dollars in thousands) Balances at beginning of period, net of tax $ (2,492 ) $ (17,110 ) $ (960 ) $ 831 $ 511 $ (19,220 ) Other comprehensive loss before reclassifications (245 ) — — — — (245 ) Amortization of unrealized gains of postretirement plan recognized in other comprehensive income — — — (831 ) (511 ) (1,342 ) Accretion of unrealized losses transferred from available for sale to held to maturity recognized in other comprehensive income — — 160 — — 160 Reclassification adjustment for gains realized in income (393 ) — — — (393 ) Net current period other comprehensive income (638 ) — 160 (831 ) (511 ) (1,820 ) Balances at end of period, net of tax $ (3,130 ) $ (17,110 ) $ (800 ) $ — $ — $ (21,040 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) on Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total 2015 (Dollars in thousands) Balances at beginning of period, net of tax $ (4,315 ) $ (17,110 ) $ — $ 916 $ 511 $ (19,998 ) Transfer of losses from available for sale to held to maturity 999 — (999 ) — — — Other comprehensive income before reclassifications 916 — — 120 — 1,036 Accretion of unrealized losses transferred from available for sale to held to maturity recognized in other comprehensive income — — 39 — — 39 Reclassification adjustment for gains realized in income (92 ) — — (205 ) — (297 ) Net current period other comprehensive income 1,823 — (960 ) (85 ) — 778 Balances at end of period, net of tax $ (2,492 ) $ (17,110 ) $ (960 ) $ 831 $ 511 $ (19,220 ) 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 2014 (Dollars in thousands) Balances at beginning of period $ (40,393 ) $ (2,972 ) $ 1,829 $ (129 ) $ (41,665 ) Income tax 14,138 (14,138 ) (640 ) 640 — Balances at beginning of period, net of tax (26,255 ) (17,110 ) 1,189 511 (41,665 ) Other comprehensive income (loss) before reclassifications 22,229 — (130 ) — 22,099 Reclassification adjustment for (gains) losses realized in income (289 ) — (143 ) — (432 ) Net current period other comprehensive income 21,940 — (273 ) — 21,667 Balances at end of period, net of tax $ (4,315 ) $ (17,110 ) $ 916 $ 511 $ (19,998 ) |
Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) to Net Income | The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) to net income for the year ended December 31, 2016: Amount Reclassified From Accumulated Details About Accumulated Other Other Comprehensive Affected Line Item on the Statement Where Comprehensive Income Components Income to Net Income Net Income is Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 604 Net gains on securities available for sale (211 ) Tax (expense) benefit 393 Net of tax Amortization of postretirement benefits prior service costs 1,278 Reduction of salaries & employee benefits expense (447 ) Tax (expense) benefit 511 Disproportionate tax benefit effect from plan settlement 1,342 Net of tax Total reclassification during the period $ 1,735 Increase to net income The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) to net income for the year ended December 31, 2015: Amount Reclassified From Accumulated Details About Accumulated Other Other Comprehensive Affected Line Item on the Statement Where Comprehensive Income Components Income to Net Income Net Income is Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 142 Net gains on securities available for sale (50 ) Tax (expense) benefit 92 Net of tax Amortization of postretirement benefits prior service costs 315 Reduction of salaries & employee benefits expense (110 ) Tax (expense) benefit 205 Net of tax Total reclassification during the period $ 297 Increase to net income The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the year ended December 31, 2014: Amount Reclassified From Accumulated Details About Accumulated Other Other Comprehensive Affected Line Item on the Statement Where Comprehensive Income Components Income to Net Income Net Income is Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 444 Net gains on securities available for sale (155 ) Tax (expense) benefit 289 Net of tax Amortization of postretirement benefits prior service costs 220 Reduction of salaries & employee benefits expense (77 ) Tax (expense) benefit 143 Net of tax Total reclassification during the period $ 432 Increase to net income |
REGULATORY CAPITAL MATTERS (Tab
REGULATORY CAPITAL MATTERS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Home Savings [Member] | |
Actual and Statutory Required Capital Amounts and Ratios | Actual and regulatory required capital ratios for Home Savings, along with the dollar amount of capital implied by such ratios, are presented below. December 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) $ 248,861 16.47 % $ 130,292 8.625 % $ 151,063 10.00 % Tier 1 capital (to risk-weighted assets) 229,938 15.22 % 100,079 6.625 % 120,850 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 229,938 15.22 % 77,420 5.125 % 98,191 6.50 % Tier 1 capital (to average assets)** 229,938 10.65 % 86,360 4.00 % 107,950 5.00 % **Tier 1 Leverage Capital Ratio 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) $ 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: December 31, 2016 December 31, 2015 (Dollars in thousands) Total shareholders' equity $ 216,475 $ 220,872 Add (deduct) Accumulated other comprehensive loss 21,056 19,236 Intangible assets (3 ) (12 ) Disallowed deferred tax assets (7,590 ) (15,610 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 229,938 224,486 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 18,923 16,211 Total risk-based capital $ 248,861 $ 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. December 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) $ 277,817 18.38 % $ 130,369 8.625 % $ 151,153 10.00 % Tier 1 capital (to risk-weighted assets) 258,869 17.13 % 100,139 6.625 % 120,922 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 258,869 17.13 % 77,466 5.125 % 98,249 6.50 % Tier 1 capital (to average assets)** 258,869 11.98 % 86,425 4.00 % 108,031 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: December 31, 2016 December 31, 2015 (Dollars in thousands) Total shareholders' equity $ 249,806 $ 244,245 Add (deduct) Accumulated other comprehensive loss 21,040 19,220 Intangible assets (1,567 ) (12 ) Disallowed deferred tax assets (10,410 ) (17,950 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 258,869 245,503 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 18,948 16,229 Total risk-based capital $ 277,817 $ 261,732 |
BENEFIT PLANS (Tables)
BENEFIT PLANS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Postemployment Benefits [Abstract] | |
Summary of Changes in Benefit Obligation | Information about changes in obligations of the benefit plan follows: For the year ended December 31, 2016 For the year ended December 31, 2015 (Dollars in thousands) Change in Benefit Obligation: Benefit obligation at beginning of year $ 333 $ 1,636 Service cost — — Net periodic benefit cost (benefit) (1,268 ) (261 ) Actuarial gain 1,268 131 Benefits paid (333 ) (101 ) Curtailment gain — (1,072 ) Benefit obligation at end of the year — 333 Funded status of the plan $ — $ (333 ) |
Amounts Recognized in Accumulated Other Comprehensive Income | Amounts recognized in accumulated other comprehensive income, at December 31, 2015 consists of the following: For the year ended December 31, 2015 Prior service credit $ 228 Net actuarial gains 1,050 $ 1,278 |
Components of Net Periodic Benefit Cost/(Benefit) | Components of net periodic benefit cost/(benefit) are as follows: For the year ended December 31, 2016 2015 2014 Service cost $ — $ — $ — Interest cost 10 53 56 Expected return on plan assets — — — Net amortization of prior service cost (benefit) (228 ) (228 ) (77 ) Amortization of net actuarial gain (1,050 ) (86 ) (142 ) Curtailment gain — (1,072 ) — Net periodic benefit cost (1,268 ) (1,333 ) (163 ) Net (gain) loss — (184 ) 200 Prior service credit — — — Amortization of prior service cost and net actuarial gain 1,278 315 220 Total recognized in other comprehensive income 1,278 131 420 Total recognized in net periodic benefit cost and other comprehensive income $ 10 $ (1,202 ) $ 257 Assumptions used in the valuations were as follows: Weighted average discount rate 3.90 % 3.90 % 3.40 % |
Summary of Activity in Plans | A summary of activity in the plans is as follows: For the year ended December 31, 2016 Shares Weighted average exercise price Aggregate intrinsic value (Dollars in thousands) Outstanding at beginning of year 572,323 $ 2.56 Granted — — Exercised (199,905 ) 2.60 Forfeited (1,200 ) 2.10 Outstanding at end of period 371,218 2.55 $ 2,358 Options exercisable at end of period 364,600 2.50 2,349 |
Information Related to the Stock Options Granted and Exercised | Information related to the stock options granted and exercised during each year follows: 2016 2015 2014 Intrinsic value of options exercised $ 883,000 $ 48,000 $ 147,000 Cash received from option exercises 517,000 28,000 172,000 Tax benefit realized from option exercises 82 — — Weighted average fair value of options granted — 1.70 1.73 |
Weighted-Average Assumptions for Determining Fair Value of Options Granted | The fair value of options granted in 2015 and 2014 were determined using the following weighted-average assumptions as of the grant date: 2016 2015 2014 Risk-free interest rate 0.00 % 1.49 % 1.74 % Expected term (years) — 5 5 Expected stock volatility 0.00 % 35.95 % 85.75 % Dividend yield 0.00 % 0.74 % 0.80 % |
Summary of Changes in Company's Nonvested Restricted Shares | A summary of changes in the Company’s nonvested restricted shares for the year is as follows: Shares Weighted average exercise price Nonvested shares at January 1, 2016 260,490 $ 4.68 Granted 200,856 6.04 Vested (117,234 ) 4.61 Forfeited (2,928 ) 4.53 Nonvested shares at December 31, 2016 341,184 5.50 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 12 Months Ended |
Dec. 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 December 31, 2016 Using: Quoted Significant Prices in Unobservable Active Significant Inputs Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities US Treasury and government sponsored entities’ securities $ 186,033 $ — $ 186,033 $ — States of the U.S. and political subdivisions 57,757 — 57,757 — Mortgage-backed GSE securities: residential 99,494 — 99,494 — Loans held for sale, at fair value 62,593 — 8,832 53,761 Purchased certificate of deposit option 882 — 882 — Liabilities Written certificate of deposit option 882 — 882 — Fair Value Measurements at December 31, 2015 Using: Quoted Significant Prices in Unobservable Active Significant Inputs 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 US Treasury and government sponsored entities’ securities $ 218,650 $ — $ 218,650 $ — States of the U.S. and policical 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 years ended December 31, 2016 and 2015, in thousands: Construction loans held for sale Twelve months ended Twelve months ended December 31, 2016 December 31, 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 (1,796 ) 1,519 Included in other comprehensive income — — Originations 82,878 41,026 Amortizations — — Sales (54,037 ) (15,829 ) Balance of recurring Level 3 assets at end of period $ 53,761 $ 26,716 Interest Rate Caps Twelve months ended Twelve months ended December 31, 2016 December 31, 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 385 341 Included in other comprehensive income — — Purchases — — Amortization (388 ) (518 ) Sales — — Balance of recurring Level 3 assets at end of period $ — $ 3 |
Assets Measured on Non-recurring Basis | Assets Measured on a Non-Recurring Basis Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at December 31, 2016 Using: Quoted Significant Prices in Unobservable Active Significant Inputs Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans Commercial loans Nonresidential $ 2,257 $ — $ — $ 2,257 Secured 284 — — 284 Residential loans One-to four-family residential 919 — — 919 Consumer loans Home Equity 228 — — 228 Auto 177 — — 177 Recreational vehicle 89 — — 89 Other real estate owned, net Commercial loans Construction loans 748 — — 748 Residential loans One-to four-family residential 281 — — 281 Fair Value Measurements at December 31, 2015 Using: Quoted Significant Prices in Unobservable Active Significant Inputs 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 | As of December 31, 2016 and 2015, the aggregate fair value, contractual balance and gain or loss was as follows: December 31, 2016 December 31, 2015 (Dollars in thousands) (Dollars in thousands) Aggregate fair value $ 62,593 $ 26,716 Contractual balance 62,843 25,197 Gain (loss) (250 ) 1,519 |
Carrying Value and Estimated Fair Values of Financial Instruments | The carrying value and estimated fair values of financial instruments at December 31, 2016 and December 31, 2015, were as follows: Fair Value Measurements at December 31, 2016 Using: December 31, 2016 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 45,887 $ 45,887 $ — $ — Available for sale securities 343,284 — 343,284 — Held to maturity securities 97,519 — 92,940 3,210 Loans held for sale at lower of cost or market 165 — 169 — Loans held for sale at fair value 62,593 — 8,832 53,761 Loans, net 1,503,577 — — 1,494,534 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 6,900 — 2,624 4,276 Purchased certificate of deposit option 882 — 882 — Liabilities: Deposits: Checking, savings and money market accounts (1,026,565 ) (1,026,565 ) — — Certificates of deposit (488,426 ) — (491,278 ) — FHLB advances (390,756 ) — (390,750 ) — Repurchase agreements and other (512 ) — (513 ) — Advance payments by borrowers for taxes and insurance (23,812 ) (23,812 ) — — Accrued interest payable (145 ) — (145 ) — Written certificate of deposit option (882 ) — (882 ) — 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 at lower of cost or market 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 December 31, 2016: Fair Value Valuation Technique Unobservable Inputs Range (Dollars in thousands) Construction loans held for sale $ 53,761 Comparable sales Time discount using the 60 day forward contract 0.00%-1.80% The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2015: Fair Value Valuation Technique Unobservable Inputs Range (Dollars in thousands) Construction loans held for sale $ 26,716 Comparable sales Time discount using the 60 day forward contract 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 December 31, 2016: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Average) (Dollars in thousands) Impaired loans Commercial loans Nonresidential $ 2,257 Sales comparison approach Adjustment for differences between comparable sales 0.00-35.00% (15.00%) Secured 284 Sales comparison approach Adjustment for differences between comparable sales 0.00-64.00% (16.00%) Residential loans One-to four-family residential 919 Sales comparison approach Adjustment for differences between comparable sales 0.00-10.77% (4.27%) Consumer loans Home Equity 228 Sales comparison approach Adjustment for differences between comparable sales 0.00-17.85% (8.93%) Other real estate owned, net Commercial loans Construction loans 748 Sales comparison approach Cost approach Adjustment for differences between comparable sales Adjustment for differences in cost 0.00%-90.40% (27.46%) 0.00%-33.33% (16.67%) Residential loans One-to four-family residential 281 Sales comparison approach Adjustment for differences between comparable sales 0.00-27.00% (7.74%) Auto and recreational vehicle loans were excluded from the table above as their value is considered immaterial. 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 (Average) (Dollars in thousands) Impaired loans Commercial loans Nonresidential $ 2,857 Sales comparison approach Adjustment for differences between comparable sales 9.19%-12.380% (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, 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 1,088 Sales comparison approach Adjustment for differences between comparable sales 0.00-40.50% (15.51%) |
STATEMENT OF CASH FLOWS SUPPL50
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosures of Cash Flow Information | Supplemental disclosures of cash flow information are summarized below: For the Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Supplemental disclosures of cash flow information: Cash paid during the year for: Interest on deposits and borrowings $ 8,336 $ 9,245 $ 12,190 Income taxes 475 375 130 Supplemental schedule of noncash activities: Securities transferred from available for sale to held to maturity, at fair value — 103,768 — Accretion of securities held to maturity 247 131 — Transfers from loans to real estate owned 971 2,264 1,982 Transfers from loans to other assets 6,384 — — Issuance of common stock-James & Sons acquisition 1,547 — — |
DERIVATIVES (Tables)
DERIVATIVES (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary Information About the Interest Rate Caps Not Designated Hedges | Summary information about the interest rate caps not designated hedges as of December 31, 2015 is as follows: December 31, 2015 (Dollars in thousands) Notional amounts $ 100,000 Weighted average strike rate, based on three-month LIBOR 1.50 % Weighted average maturity remaining 0.75 years Fair value of combined interest rate caps $ 3 |
Net Gains/(Losses) Recorded in Noninterest Income Relating to Instruments Not Designated as Hedges | The following table presents net gains/(losses) recorded in noninterest income relating to instruments not designated as hedges: December 31, 2016 December 31, 2015 December 31, 2014 (Dollars in thousands) Interest rate caps $ — $ (177 ) $ (366 ) |
Summary Information About Purchased and Written Options | Summary information about purchased and written options is as follows: December 31, 2016 December 31, 2015 (Dollars in thousands) Notion amount of purchased/written option $ 13,789 $ 13,468 Weighted average maturity 3.9 years 4.8 years Fair value of purchased/written option $ 882 $ 805 |
Freestanding Derivative Assets and Liabilities Not Designated as Hedges | The following table reflects the fair value and location in the consolidated statement of financial condition of interest rate caps, along with purchased and written certificates of deposit options: Included in other assets: December 31, 2016 December 31, 2015 (Dollars in thousands) Freestanding derivative assets not designated as hedges: Interest rate caps $ — $ 3 Purchased certificate of deposit option 882 805 Included in other liabilities: December 31, 2016 December 31, 2015 (Dollars in thousands) Freestanding derivative liabilities not designated as hedges: Written certificate of deposit option $ 882 $ 805 |
PARENT COMPANY FINANCIAL STAT52
PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Condensed Statements of Financial Condition | Condensed Statements of Financial Condition December 31, 2016 2015 (Dollars in thousands) Assets Cash and deposits with banks $ 25,924 $ 21,163 Total cash and cash equivalents 25,924 21,163 Investment in subsidiary-Home Savings 216,475 220,873 Investment in subsidiary-HSB Capital LLC 3,014 — Investment in subsidiary-HSB Insurance LLC 2,168 — Other assets 2,878 2,395 Total assets $ 250,459 $ 244,431 Liabilities and Shareholders’ Equity Accrued expenses and other liabilities $ 653 $ 186 Total liabilities 653 186 Total shareholders’ equity 249,806 244,245 Total liabilities and shareholders’ equity $ 250,459 $ 244,431 |
Condensed Statements of Income and Comprehensive Income | Condensed Statements of Income and Comprehensive Income Year ended December 31, 2016 2015 2014 (Dollars in thousands) Income Interest income $ — $ — $ 8 Non-interest income — — 331 Total income — — 339 Expenses Non-interest expenses 1,658 1,017 867 Total expenses 1,658 1,017 867 Loss before income taxes (1,658 ) (1,017 ) (528 ) Income tax benefit (481 ) (356 ) (2,035 ) Income (loss) before equity in undistributed net earnings of subsidiaries (1,177 ) (661 ) 1,507 Earnings distributed by subsidiaries 23,500 15,000 — Undistributed earnings (loss) of subsidiaries (3,495 ) 1,943 48,699 Net income $ 18,828 $ 16,282 $ 50,206 Comprehensive income $ 17,008 $ 17,060 $ 71,873 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows Year ended December 31, 2016 2015 2014 (Dollars in thousands) Cash Flows from Operating Activities Net income $ 18,828 $ 16,282 $ 50,206 Adjustments to reconcile net income to net cash provided by operating activities: Decrease (increase) in undistributed earnings of the subsidiaries 3,495 (1,943 ) (48,699 ) Increase in deferred tax assets (481 ) (356 ) (1,996 ) Decrease in other assets 16 4 — Net gains on securities sales — — (331 ) Increase (decrease) in other liabilities 154 86 (535 ) Net cash from operating activities 22,012 14,073 (1,355 ) Cash Flows from Investing Activities Sales of: Securities available for sale — — 431 Equity investment in HSB Capital LLC (3,000 ) — — Net cash from investing activities (3,000 ) — 431 Cash Flows from Financing Activities Issuance of preferred stock — — — Issuance of common stock, net of issuance costs — — — Purchase of treasury stock (9,596 ) (10,333 ) (6,389 ) Dividends paid (5,172 ) (3,369 ) (1,001 ) Proceeds from the exercise of stock options 517 28 172 Net cash from financing activities (14,251 ) (13,674 ) (7,218 ) Change in cash and cash equivalents 4,761 399 (8,142 ) Cash and cash equivalents, beginning of year 21,163 20,764 28,906 Cash and cash equivalents, end of year $ 25,924 $ 21,163 $ 20,764 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | Twelve months ended December 31, 2016 2015 2014 (In thousands, except per share data) Net income per consolidated statements of income $ 18,828 $ 16,282 $ 50,206 Net income allocated to participating securities (121 ) (81 ) (209 ) Net income allocated to common stock $ 18,707 $ 16,201 $ 49,997 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 5,140 $ 3,350 $ 1,001 Undistributed earnings allocated to common stock 13,567 12,851 48,996 Net earnings allocated to common stock $ 18,707 $ 16,201 $ 49,997 Weighted average common shares outstanding, including shares considered participating securities 46,967 48,320 50,125 Less: Average participating securities (301 ) (242 ) (208 ) Weighted average shares 46,666 48,078 49,917 Basic earnings per common share $ 0.40 $ 0.34 $ 1.00 Diluted earnings per common share computation: Net earnings allocated to common stock $ 18,707 $ 16,201 $ 49,997 Weighted average common shares outstanding for basic earnings per common share 46,666 48,078 49,917 Add: Dilutive potential common shares 371 272 251 Weighted average shares and dilutive potential common shares 47,037 48,350 50,168 Diluted earnings per common share $ 0.40 $ 0.34 $ 1.00 |
QUARTERLY FINANCIAL INFORMATI54
QUARTERLY FINANCIAL INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Quarterly Data | The following table presents summarized quarterly data for each of the years indicated. Unaudited First Second Third Fourth 2016: Quarter Quarter Quarter Quarter Total (Dollars in thousands, except per share data) Interest income $ 17,020 $ 17,399 $ 17,815 $ 18,495 $ 70,729 Interest expense 2,147 2,065 2,055 2,161 8,428 Net interest income 14,873 15,334 15,760 16,334 62,301 Provision for loan losses 2,155 395 1,344 1,493 5,387 Net interest income after provision for loan losses 12,718 14,939 14,416 14,841 56,914 Non-interest income 4,658 5,780 6,003 5,635 22,076 Non-interest expenses 12,464 12,860 12,978 13,717 (1) 52,019 Income before taxes 4,912 7,859 7,441 6,759 26,971 Income tax expense 1,592 2,529 2,288 1,734 8,143 Net income $ 3,320 $ 5,330 $ 5,153 $ 5,025 $ 18,828 Earnings per share: Basic earnings $ 0.07 $ 0.11 $ 0.11 $ 0.11 $ 0.40 Diluted earnings 0.07 0.11 0.11 0.11 0.40 1. Non-interest expense was higher for the fourth quarter of 2016 as a result of the recognition of $787,000 in merger related expenses associated with the Ohio Legacy acquisition discussed above. Unaudited First Second Third Fourth 2015: Quarter Quarter Quarter Quarter Total (Dollars in thousands, except per share data) Interest income $ 16,034 $ 16,111 $ 16,654 $ 16,836 $ 65,635 Interest expense 2,154 2,260 2,353 2,346 9,113 Net interest income 13,880 13,851 14,301 14,490 56,522 Provision for loan losses (184 ) 753 673 893 2,135 Net interest income after provision for loan losses 14,064 13,098 13,628 13,597 54,387 Non-interest income 4,118 5,275 4,873 5,451 19,717 Non-interest expenses 12,681 12,208 12,285 12,755 (1) 49,929 Income before taxes 5,501 6,165 6,216 6,293 24,175 Income tax expense (benefit) 1,815 2,040 2,073 1,965 7,893 Net income $ 3,686 $ 4,125 $ 4,143 $ 4,328 $ 16,282 Earnings per share: Basic earnings $ 0.07 $ 0.08 $ 0.09 $ 0.09 $ 0.34 Diluted earnings 0.07 0.08 0.09 0.09 0.34 1. Non-interest expense was higher for the fourth quarter of 2015 as a result of the Company incurring a $1.3 million prepayment penalty for the repayment of a high-cost repurchase agreement. Partially offsetting this expense was a decrease in salaries and employee benefits, which was due to organizational restructuring and modification of certain employee benefit plans. |
Summary of Significant Accoun55
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016ServiceBankingBranchLoanProductionCenterSegment | |
Summary Of Significant Accounting Policies [Line Items] | |
Number of full service banking branches | ServiceBankingBranch | 31 |
Number of loan production centers | LoanProductionCenter | 12 |
Percentage value of estimated real estate | 90.00% |
Recognized tax benefit | 50.00% |
Postretirement medical benefits number of years of service for eligibility | 20 years |
Postretirement medical benefits number of age of service for eligibility | 60 years |
Number of reportable operating segment | Segment | 1 |
Customer List [Member] | James & Sons Insurance Company [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Intangible assets estimated useful life | 10 years |
Minimum [Member] | Buildings [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Term of lease | 20 years |
Minimum [Member] | Furniture and Fixtures [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Term of lease | 3 years |
Maximum [Member] | Buildings [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Term of lease | 40 years |
Maximum [Member] | Furniture and Fixtures [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Term of lease | 5 years |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) | Jan. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2016 |
Subsequent Event [Line Items] | |||
Business acquisition, related costs | $ 787,000 | ||
OLCB [Member] | |||
Subsequent Event [Line Items] | |||
Acquisition date | Jan. 31, 2017 | ||
Business acquisition, related costs | $ 787,000 | $ 787,000 | |
OLCB [Member] | Subsequent Events [Member] | |||
Subsequent Event [Line Items] | |||
Common stock conversion | Each OLCB common share was converted into the right to receive either $18.00 in cash or 2.736 United Community common shares, subject to certain allocation procedures set forth in the Merger Agreement that ensured that 50% of OLCB’s common shares outstanding were converted into United Community common shares and 50% of OLCB’s common shares outstanding received the cash consideration. | ||
Business acquisition, per share price | $ 18 | ||
Business acquisition, common stock issuable per each acquired share | 2.736 | ||
Business acquisition, shares consideration | 50.00% | ||
Business acquisition, cash consideration | 50.00% | ||
Business acquisition, common shares issued | 3,033,604 | ||
Business acquisition, cash | $ 19,958,724 | ||
Deductible goodwill for income tax purposes | 0 | ||
Total assets acquired | 347,700,000 | ||
Total loans acquired | 261,400,000 | ||
Total deposits acquired | 266,200,000 | ||
Total equity acquired | $ 45,800,000 |
Subsequent Events - Summary of
Subsequent Events - Summary of Consideration Paid (Detail) - Subsequent Events [Member] - OLCB [Member] | Jan. 31, 2017USD ($) |
Subsequent Event [Line Items] | |
Cash | $ 19,958,724 |
United Community shares issued | 25,816,000 |
Total fair value of consideration paid | $ 45,775,000 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Vault Cash [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Non interest bearing reserve balances | $ 11.2 | $ 10.9 |
Securities - Components of Secu
Securities - Components of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | $ 348,099 | $ 361,503 |
Available-for-sale securities, Gross unrealized gains | 225 | 406 |
Available-for-sale securities, Gross unrealized losses | (5,040) | (4,239) |
Available-for-sale securities, Total fair value | 343,284 | 357,670 |
U.S. Treasury and Government Sponsored Entities' Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 188,082 | 221,500 |
Available-for-sale securities, Gross unrealized gains | 172 | 159 |
Available-for-sale securities, Gross unrealized losses | (2,221) | (3,009) |
Available-for-sale securities, Total fair value | 186,033 | 218,650 |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 59,415 | 10,848 |
Available-for-sale securities, Gross unrealized gains | 3 | 192 |
Available-for-sale securities, Gross unrealized losses | (1,661) | |
Available-for-sale securities, Total fair value | 57,757 | 11,040 |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 100,602 | 129,155 |
Available-for-sale securities, Gross unrealized gains | 50 | 55 |
Available-for-sale securities, Gross unrealized losses | (1,158) | (1,230) |
Available-for-sale securities, Total fair value | $ 99,494 | $ 127,980 |
Securities - Components of Se60
Securities - Components of Securities Held to Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | $ 97,519 | $ 110,699 |
Held to maturity securities, Gross unrealized gains | 17 | 148 |
Held to maturity securities, Gross unrealized losses | (1,386) | (1,203) |
Held to maturity securities, Fair value | 96,150 | 109,644 |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | 85,065 | 100,322 |
Held to maturity securities, Gross unrealized losses | (1,300) | (1,203) |
Held to maturity securities, Fair value | 83,765 | 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 | 12,454 | 10,377 |
Held to maturity securities, Gross unrealized gains | 17 | 148 |
Held to maturity securities, Gross unrealized losses | (86) | |
Held to maturity securities, Fair value | $ 12,385 | $ 10,525 |
Securities - Debt Securities Av
Securities - Debt Securities Available for Sale by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available For Sale Securities Debt Maturities [Abstract] | ||
Due after five years through ten years, amortized cost | $ 188,499 | |
Due after ten years, amortized cost | 58,998 | |
Mortgage-backed GSE securities: residential, amortized cost | 100,602 | |
Total amortized cost | 348,099 | $ 361,503 |
Due after five years through ten years, fair value | 186,446 | |
Due after ten years, fair value | 57,344 | |
Mortgage-backed GSE securities: residential, fair value | 99,494 | |
Total fair value | $ 343,284 | $ 357,670 |
Securities - Debt Securities He
Securities - Debt Securities Held to Maturity by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Investments Debt And Equity Securities [Abstract] | ||
Due in one year or less, amortized cost | $ 3,200 | |
Due after five years through ten years, amortized cost | 4,760 | |
Due after ten years, amortized cost | 4,494 | |
Mortgage-backed GSE securities: residential, amortized cost | 85,065 | |
Held to maturity securities, Total amortized cost | 97,519 | $ 110,699 |
Due in one year or less, fair value | 3,210 | |
Due after five years through ten years, fair value | 4,722 | |
Due after ten years, fair value | 4,453 | |
Mortgage-backed GSE securities: residential, fair value | 83,765 | |
Held to maturity securities, Total fair value | $ 96,150 | $ 109,644 |
Securities - Summary of Proceed
Securities - Summary of Proceeds, Gross Realized Gains, Losses and Impairment Charges of Available for Sale Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Amortized Cost And Fair Value Debt Securities [Abstract] | |||
Proceeds | $ 33,701 | $ 16,627 | $ 14,595 |
Gross gains | $ 604 | $ 142 | $ 444 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||||
Income tax expense related to net realized gains and losses | $ 211,000 | $ 50,000 | $ 155,000 | |
Remaining unaccreted unrealized holding loss | 1,230,000 | 1,477,000 | ||
Ohio Linked Deposit Program [Member] | ||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||||
Securities pledged for investment in Ohio Linked Deposit Program | $ 605,000 | $ 0 | ||
Mortgage-Backed GSE Securities [Member] | ||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||||
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) |
Securities - Securities Availab
Securities - Securities Available for Sale in Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | $ 323,469 | $ 240,461 |
Unrealized loss, Less than 12 months | (5,040) | (2,496) |
Fair value, 12 months or more | 69,333 | |
Unrealized loss, 12 months or more | (1,743) | |
Total Fair value | 323,469 | 309,794 |
Total, unrealized loss | (5,040) | (4,239) |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 53,283 | |
Unrealized loss, Less than 12 months | (1,661) | |
Total Fair value | 53,283 | |
Total, unrealized loss | (1,661) | |
U.S. Treasury and Government Sponsored Entities' Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 171,411 | 139,876 |
Unrealized loss, Less than 12 months | (2,221) | (1,654) |
Fair value, 12 months or more | 55,055 | |
Unrealized loss, 12 months or more | (1,355) | |
Total Fair value | 171,411 | 194,931 |
Total, unrealized loss | (2,221) | (3,009) |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 98,775 | 100,585 |
Unrealized loss, Less than 12 months | (1,158) | (842) |
Fair value, 12 months or more | 14,278 | |
Unrealized loss, 12 months or more | (388) | |
Total Fair value | 98,775 | 114,863 |
Total, unrealized loss | $ (1,158) | $ (1,230) |
Securities - Securities Held to
Securities - Securities Held to Maturity in Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Fair value, Less than 12 months | $ 64,756 | $ 22,723 |
Unrealized loss, Less than 12 months | (1,329) | (289) |
Fair value, 12 months or more | 26,426 | 76,396 |
Unrealized loss, 12 months or more | (1,287) | (2,390) |
Total fair value | 91,182 | 99,119 |
Total unrealized loss | (2,616) | (2,679) |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Fair value, Less than 12 months | 57,340 | 22,723 |
Unrealized loss, Less than 12 months | (1,243) | (289) |
Fair value, 12 months or more | 26,426 | 76,396 |
Unrealized loss, 12 months or more | (1,287) | (2,390) |
Total fair value | 83,766 | 99,119 |
Total unrealized loss | (2,530) | $ (2,679) |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Fair value, Less than 12 months | 7,416 | |
Unrealized loss, Less than 12 months | (86) | |
Total fair value | 7,416 | |
Total unrealized loss | $ (86) |
Loans - Schedule of Portfolio o
Loans - Schedule of Portfolio of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | $ 1,519,477 | $ 1,332,593 | ||
Allowance for loan losses | 19,087 | 17,712 | $ 17,687 | $ 21,116 |
Deferred loan fees, net | (3,187) | (1,311) | ||
Total | 15,900 | 16,401 | ||
Loans, net | 1,503,577 | 1,316,192 | ||
Commercial Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 504,258 | 369,752 | ||
Allowance for loan losses | 10,824 | 8,077 | 5,690 | 6,984 |
Commercial Loans [Member] | Multifamily [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 93,597 | 80,170 | ||
Commercial Loans [Member] | Nonresidential [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 231,401 | 175,456 | ||
Commercial Loans [Member] | Land [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 8,373 | 9,301 | ||
Commercial Loans [Member] | Construction [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 68,158 | 38,812 | ||
Commercial Loans [Member] | Secured [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 95,343 | 63,182 | ||
Commercial Loans [Member] | Unsecured [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 7,386 | 2,831 | ||
Residential Mortgage Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 798,621 | 774,583 | ||
Allowance for loan losses | 5,538 | 6,630 | 8,517 | 9,830 |
Residential Mortgage Loans [Member] | Construction [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 35,695 | 40,898 | ||
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 762,926 | 733,685 | ||
Consumer Loans [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 216,598 | 188,258 | ||
Allowance for loan losses | 2,725 | 3,005 | $ 3,480 | $ 4,302 |
Consumer Loans [Member] | Home Equity [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 165,054 | 161,338 | ||
Consumer Loans [Member] | Auto [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 39,609 | 11,348 | ||
Consumer Loans [Member] | Marine [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 1,796 | 2,699 | ||
Consumer Loans [Member] | Recreational Vehicle [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | 7,602 | 10,656 | ||
Consumer Loans [Member] | Other [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total loans | $ 2,537 | $ 2,217 |
Loans - Number of Outstanding C
Loans - Number of Outstanding Commitments to Extend Credit (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Commitments to Make Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Fixed Rate | $ 74,927 | $ 44,957 |
Variable Rate | 40,908 | 33,384 |
Undisbursed Loans in Process [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Fixed Rate | 5,450 | 674 |
Variable Rate | 130,566 | 111,738 |
Unused Lines of Credit [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Fixed Rate | 8,538 | 10,162 |
Variable Rate | $ 156,032 | $ 115,812 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accounts Notes And Loans Receivable [Line Items] | ||||
Outstanding standby letters of credit | $ 1,000,000 | $ 474,000 | ||
Outstanding commitments to fund the Overdraft Privilege Program | $ 50,500,000 | $ 46,100,000 | ||
Evaluation period of net charge-off history | 54 months | 36 months | ||
Total unpaid principal balance outstanding | $ 24,114,000 | $ 27,499,000 | ||
Protracted litigation and reserve | 546,000 | |||
Amounts charged off | $ 5,634,000 | 3,826,000 | $ 4,239,000 | |
Reduction in stated interest rate of loan, minimum outstanding period | 6 months | |||
Reduction in stated interest rate of loan, maximum outstanding period | 2 years | |||
Allowance for loan losses | $ 19,087,000 | 17,712,000 | 17,687,000 | $ 21,116,000 |
Aggregate nonaccrual TDR loans | $ 12,439,000 | 16,747,000 | ||
Troubled debt restructuring period past due considered payment default | 30 days | |||
Period of cumulative homogeneous loans past due included in company analysis | 90 days | |||
Maximum duration under which loans may be housed under Special Mention category | No Longer Than 12 Months | |||
TDRs [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Increment in allowance for loan losses | $ 39,000 | 135,000 | 193,000 | |
Amounts charged off | 0 | 0 | 73,000 | |
Recorded investment in trouble debt restructuring | 26,600,000 | 26,300,000 | ||
Allowance for loan losses | 3,000,000 | 2,300,000 | ||
Commitment to lend additional amounts | 31,000 | 42,000 | ||
Aggregate nonaccrual TDR loans | 6,600,000 | 2,900,000 | ||
Aggregate accrual TDR loans | 20,000,000 | 23,400,000 | ||
TDRs with Subsequent Default [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Increment in allowance for loan losses | 820,000 | 0 | 0 | |
Amounts charged off | $ 350,000 | 0 | $ 0 | |
Secured [Member] | Nonresidential [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total unpaid principal balance outstanding | $ 7,000,000 | |||
Home Savings [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Percentage of distribution of proceeds from sales of properties | 100.00% | |||
Minimum [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Interest rate of fixed rate loan | 2.75% | |||
Period of maturity of fixed rate loan | 3 months | |||
Minimum [Member] | TDRs [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Extension of the maturity date | 6 months | |||
Maximum [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Interest rate of fixed rate loan | 18.00% | |||
Period of maturity of fixed rate loan | 30 years | |||
Maximum [Member] | TDRs [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Extension of the maturity date | 10 years |
Loans - Investment in Loans by
Loans - Investment in Loans by Portfolio Segment and Based on Impairment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||||
Allowance, Beginning balance | $ 17,712 | $ 17,687 | $ 17,712 | $ 17,687 | $ 21,116 | ||||||
Provision (recovery) for loan losses | $ 1,493 | $ 1,344 | $ 395 | 2,155 | $ 893 | $ 673 | $ 753 | (184) | 5,387 | 2,135 | (1,271) |
Charge-offs | (5,634) | (3,826) | (4,239) | ||||||||
Recoveries | 1,622 | 1,716 | 2,081 | ||||||||
Allowance, Ending balance | 19,087 | 17,712 | 19,087 | 17,712 | 17,687 | ||||||
Allowance, Loans individually evaluated for impairment | 3,016 | 2,816 | 3,016 | 2,816 | |||||||
Allowance, Loans collectively evaluated for impairment | 16,071 | 14,896 | 16,071 | 14,896 | |||||||
Period-end balances, Loans individually evaluated for impairment | 31,548 | 39,659 | 31,548 | 39,659 | |||||||
Period-end balances, Loans collectively evaluated for impairment | 1,487,929 | 1,292,934 | 1,487,929 | 1,292,934 | |||||||
Total loans | 1,519,477 | 1,332,593 | 1,519,477 | 1,332,593 | |||||||
Commercial Loans [Member] | |||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||||
Allowance, Beginning balance | 8,077 | 5,690 | 8,077 | 5,690 | 6,984 | ||||||
Provision (recovery) for loan losses | 5,611 | 2,922 | (649) | ||||||||
Charge-offs | (3,722) | (1,268) | (1,656) | ||||||||
Recoveries | 858 | 733 | 1,011 | ||||||||
Allowance, Ending balance | 10,824 | 8,077 | 10,824 | 8,077 | 5,690 | ||||||
Allowance, Loans individually evaluated for impairment | 1,271 | 568 | 1,271 | 568 | |||||||
Allowance, Loans collectively evaluated for impairment | 9,553 | 7,509 | 9,553 | 7,509 | |||||||
Period-end balances, Loans individually evaluated for impairment | 6,018 | 9,698 | 6,018 | 9,698 | |||||||
Period-end balances, Loans collectively evaluated for impairment | 498,240 | 360,054 | 498,240 | 360,054 | |||||||
Total loans | 504,258 | 369,752 | 504,258 | 369,752 | |||||||
Residential Mortgage Loans [Member] | |||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||||
Allowance, Beginning balance | 6,630 | 8,517 | 6,630 | 8,517 | 9,830 | ||||||
Provision (recovery) for loan losses | (464) | (974) | (550) | ||||||||
Charge-offs | (761) | (1,301) | (1,005) | ||||||||
Recoveries | 133 | 388 | 242 | ||||||||
Allowance, Ending balance | 5,538 | 6,630 | 5,538 | 6,630 | 8,517 | ||||||
Allowance, Loans individually evaluated for impairment | 1,245 | 1,541 | 1,245 | 1,541 | |||||||
Allowance, Loans collectively evaluated for impairment | 4,293 | 5,089 | 4,293 | 5,089 | |||||||
Period-end balances, Loans individually evaluated for impairment | 17,485 | 19,348 | 17,485 | 19,348 | |||||||
Period-end balances, Loans collectively evaluated for impairment | 781,136 | 755,235 | 781,136 | 755,235 | |||||||
Total loans | 798,621 | 774,583 | 798,621 | 774,583 | |||||||
Consumer Loans [Member] | |||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||||
Allowance, Beginning balance | $ 3,005 | $ 3,480 | 3,005 | 3,480 | 4,302 | ||||||
Provision (recovery) for loan losses | 240 | 187 | (72) | ||||||||
Charge-offs | (1,151) | (1,257) | (1,578) | ||||||||
Recoveries | 631 | 595 | 828 | ||||||||
Allowance, Ending balance | 2,725 | 3,005 | 2,725 | 3,005 | $ 3,480 | ||||||
Allowance, Loans individually evaluated for impairment | 500 | 707 | 500 | 707 | |||||||
Allowance, Loans collectively evaluated for impairment | 2,225 | 2,298 | 2,225 | 2,298 | |||||||
Period-end balances, Loans individually evaluated for impairment | 8,045 | 10,613 | 8,045 | 10,613 | |||||||
Period-end balances, Loans collectively evaluated for impairment | 208,553 | 177,645 | 208,553 | 177,645 | |||||||
Total loans | $ 216,598 | $ 188,258 | $ 216,598 | $ 188,258 |
Loans - Presentation of Loans I
Loans - Presentation of Loans Individually Evaluated for Impairment by Class (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | $ 22,728 | $ 24,403 | |
With no specific allowance recorded, Recorded Investment | 10,444 | 12,340 | |
With no specific allowance recorded, Average Recorded Investment | 11,808 | 12,227 | $ 16,563 |
With no specific allowance recorded, Interest Income Recognized | 385 | 203 | 377 |
With no specific allowance recorded, Cash Basis Income Recognized | 364 | 194 | 366 |
With a specific allowance recorded, Unpaid Principal Balance | 24,114 | 27,499 | |
With a specific allowance recorded, Recorded Investment | 21,104 | 27,319 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 3,016 | 2,816 | |
With a specific allowance recorded, Average Recorded Investment | 27,202 | 29,881 | 30,526 |
With a specific allowance recorded, Interest Income Recognized | 982 | 1,154 | 1,125 |
With a specific allowance recorded, Cash Basis Income Recognized | 924 | 1,078 | 1,054 |
Total Unpaid Principal Balance | 46,842 | 51,902 | |
Total Recorded Investment | 31,548 | 39,659 | |
Total Average Recorded Investment | 39,010 | 42,108 | 47,089 |
Total Interest Income Recognized | 1,367 | 1,357 | 1,502 |
Total Cash Basis Income Recognized | 1,288 | 1,272 | 1,420 |
Commercial Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 10,804 | 13,911 | |
With no specific allowance recorded, Recorded Investment | 1,713 | 4,390 | |
With no specific allowance recorded, Average Recorded Investment | 3,601 | 5,653 | 9,114 |
With no specific allowance recorded, Interest Income Recognized | 109 | 10 | 260 |
With no specific allowance recorded, Cash Basis Income Recognized | 108 | 10 | 256 |
With a specific allowance recorded, Unpaid Principal Balance | 7,167 | 5,488 | |
With a specific allowance recorded, Recorded Investment | 4,305 | 5,308 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,271 | 568 | |
With a specific allowance recorded, Average Recorded Investment | 8,352 | 6,383 | 4,707 |
With a specific allowance recorded, Interest Income Recognized | 143 | 119 | |
With a specific allowance recorded, Cash Basis Income Recognized | 142 | 117 | |
Commercial Loans [Member] | Multifamily [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 55 | 165 | |
With no specific allowance recorded, Average Recorded Investment | 21 | 87 | |
With no specific allowance recorded, Interest Income Recognized | 4 | ||
With no specific allowance recorded, Cash Basis Income Recognized | 4 | ||
With a specific allowance recorded, Average Recorded Investment | 21 | 293 | |
Commercial Loans [Member] | Nonresidential [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 2,278 | 1,215 | |
With no specific allowance recorded, Recorded Investment | 1,489 | 306 | |
With no specific allowance recorded, Average Recorded Investment | 544 | 1,389 | 4,248 |
With no specific allowance recorded, Interest Income Recognized | 102 | 6 | 260 |
With no specific allowance recorded, Cash Basis Income Recognized | 101 | 6 | 256 |
With a specific allowance recorded, Unpaid Principal Balance | 6,930 | 5,164 | |
With a specific allowance recorded, Recorded Investment | 4,133 | 4,984 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,193 | 565 | |
With a specific allowance recorded, Average Recorded Investment | 7,698 | 5,659 | 2,408 |
With a specific allowance recorded, Interest Income Recognized | 143 | 119 | |
With a specific allowance recorded, Cash Basis Income Recognized | 142 | 117 | |
Commercial Loans [Member] | Land [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3,922 | 3,922 | |
With no specific allowance recorded, Recorded Investment | 34 | 384 | |
With no specific allowance recorded, Average Recorded Investment | 234 | 474 | 521 |
Commercial Loans [Member] | Construction [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3,594 | 3,593 | |
With no specific allowance recorded, Average Recorded Investment | 69 | 552 | |
With a specific allowance recorded, Average Recorded Investment | 379 | 1,682 | |
Commercial Loans [Member] | Secured [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 242 | 3,884 | |
With no specific allowance recorded, Recorded Investment | 190 | 3,700 | |
With no specific allowance recorded, Average Recorded Investment | 2,823 | 3,700 | 3,706 |
With a specific allowance recorded, Unpaid Principal Balance | 237 | 324 | |
With a specific allowance recorded, Recorded Investment | 172 | 324 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 78 | 3 | |
With a specific allowance recorded, Average Recorded Investment | 654 | 324 | 324 |
Commercial Loans [Member] | Unsecured [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 713 | 1,132 | |
With no specific allowance recorded, Interest Income Recognized | 7 | ||
With no specific allowance recorded, Cash Basis Income Recognized | 7 | ||
Residential Mortgage Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 8,736 | 7,607 | |
With no specific allowance recorded, Recorded Investment | 6,758 | 5,866 | |
With no specific allowance recorded, Average Recorded Investment | 6,272 | 4,710 | 5,287 |
With no specific allowance recorded, Interest Income Recognized | 195 | 156 | 83 |
With no specific allowance recorded, Cash Basis Income Recognized | 177 | 149 | 77 |
With a specific allowance recorded, Unpaid Principal Balance | 10,810 | 13,482 | |
With a specific allowance recorded, Recorded Investment | 10,727 | 13,482 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,245 | 1,541 | |
With a specific allowance recorded, Average Recorded Investment | 11,898 | 14,324 | 15,039 |
With a specific allowance recorded, Interest Income Recognized | 497 | 592 | 607 |
With a specific allowance recorded, Cash Basis Income Recognized | 457 | 539 | 561 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 8,736 | 7,607 | |
With no specific allowance recorded, Recorded Investment | 6,758 | 5,866 | |
With no specific allowance recorded, Average Recorded Investment | 6,272 | 4,710 | 5,287 |
With no specific allowance recorded, Interest Income Recognized | 195 | 156 | 83 |
With no specific allowance recorded, Cash Basis Income Recognized | 177 | 149 | 77 |
With a specific allowance recorded, Unpaid Principal Balance | 10,810 | 13,482 | |
With a specific allowance recorded, Recorded Investment | 10,727 | 13,482 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,245 | 1,541 | |
With a specific allowance recorded, Average Recorded Investment | 11,898 | 14,324 | 15,039 |
With a specific allowance recorded, Interest Income Recognized | 497 | 592 | 607 |
With a specific allowance recorded, Cash Basis Income Recognized | 457 | 539 | 561 |
Consumer Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3,188 | 2,885 | |
With no specific allowance recorded, Recorded Investment | 1,973 | 2,084 | |
With no specific allowance recorded, Average Recorded Investment | 1,935 | 1,864 | 2,162 |
With no specific allowance recorded, Interest Income Recognized | 81 | 37 | 34 |
With no specific allowance recorded, Cash Basis Income Recognized | 79 | 35 | 33 |
With a specific allowance recorded, Unpaid Principal Balance | 6,137 | 8,529 | |
With a specific allowance recorded, Recorded Investment | 6,072 | 8,529 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 500 | 707 | |
With a specific allowance recorded, Average Recorded Investment | 6,952 | 9,174 | 10,780 |
With a specific allowance recorded, Interest Income Recognized | 342 | 443 | 518 |
With a specific allowance recorded, Cash Basis Income Recognized | 325 | 422 | 493 |
Consumer Loans [Member] | Home Equity [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 2,159 | 2,245 | |
With no specific allowance recorded, Recorded Investment | 1,583 | 1,718 | |
With no specific allowance recorded, Average Recorded Investment | 1,382 | 1,491 | 1,757 |
With no specific allowance recorded, Interest Income Recognized | 66 | 31 | 29 |
With no specific allowance recorded, Cash Basis Income Recognized | 64 | 29 | 29 |
With a specific allowance recorded, Unpaid Principal Balance | 5,390 | 7,236 | |
With a specific allowance recorded, Recorded Investment | 5,335 | 7,236 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 426 | 522 | |
With a specific allowance recorded, Average Recorded Investment | 6,117 | 8,346 | 10,007 |
With a specific allowance recorded, Interest Income Recognized | 310 | 402 | 494 |
With a specific allowance recorded, Cash Basis Income Recognized | 293 | 381 | 470 |
Consumer Loans [Member] | Auto [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 11 | 20 | |
With no specific allowance recorded, Recorded Investment | 3 | 14 | |
With no specific allowance recorded, Average Recorded Investment | 7 | 22 | 66 |
With no specific allowance recorded, Interest Income Recognized | 1 | ||
With no specific allowance recorded, Cash Basis Income Recognized | 1 | ||
With a specific allowance recorded, Average Recorded Investment | 2 | 8 | |
Consumer Loans [Member] | Marine [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 585 | 496 | |
With no specific allowance recorded, Recorded Investment | 267 | 271 | |
With no specific allowance recorded, Average Recorded Investment | 293 | 280 | 155 |
With no specific allowance recorded, Interest Income Recognized | 1 | 2 | |
With no specific allowance recorded, Cash Basis Income Recognized | 1 | 2 | |
With a specific allowance recorded, Unpaid Principal Balance | 108 | 163 | |
With a specific allowance recorded, Recorded Investment | 108 | 163 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1 | 3 | |
With a specific allowance recorded, Average Recorded Investment | 144 | 41 | |
With a specific allowance recorded, Interest Income Recognized | 6 | 7 | |
With a specific allowance recorded, Cash Basis Income Recognized | 6 | 7 | |
Consumer Loans [Member] | Recreational Vehicle [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 433 | 121 | |
With no specific allowance recorded, Recorded Investment | 120 | 78 | |
With no specific allowance recorded, Average Recorded Investment | 251 | 70 | 181 |
With no specific allowance recorded, Interest Income Recognized | 13 | 4 | 4 |
With no specific allowance recorded, Cash Basis Income Recognized | 13 | 4 | 3 |
With a specific allowance recorded, Unpaid Principal Balance | 639 | 1,122 | |
With a specific allowance recorded, Recorded Investment | 629 | 1,122 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 73 | 181 | |
With a specific allowance recorded, Average Recorded Investment | 691 | 783 | 765 |
With a specific allowance recorded, Interest Income Recognized | 26 | 33 | 24 |
With a specific allowance recorded, Cash Basis Income Recognized | 26 | 33 | 23 |
Consumer Loans [Member] | Other [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3 | ||
With no specific allowance recorded, Recorded Investment | 3 | ||
With no specific allowance recorded, Average Recorded Investment | 2 | 1 | $ 3 |
With no specific allowance recorded, Interest Income Recognized | 1 | ||
With no specific allowance recorded, Cash Basis Income Recognized | $ 1 | ||
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 | 2 | ||
With a specific allowance recorded, Interest Income Recognized | 1 | ||
With a specific allowance recorded, Cash Basis Income Recognized | $ 1 |
Loans - Loans in Process of For
Loans - Loans in Process of Foreclosure (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | $ 46,842 | $ 51,902 |
Total Recorded Investment | 31,548 | 39,659 |
Residential Mortgage Loans [Member] | Loans In Process Of Foreclosure [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 3,025 | 1,294 |
Total Recorded Investment | 2,576 | 1,162 |
Consumer Loans [Member] | Loans In Process Of Foreclosure [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 1,069 | 845 |
Total Recorded Investment | $ 795 | $ 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 | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 12,439 | $ 16,747 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 3,941 | 7,999 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 3,546 | 3,599 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 34 | 384 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 361 | 4,016 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 6,084 | 6,181 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 6,084 | 6,181 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 2,414 | 2,567 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 1,936 | 1,804 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 31 | 23 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 267 | 218 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 178 | 511 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 2 | $ 11 |
Loans - Presentation of Age Ana
Loans - Presentation of Age Analysis of Past-Due Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 18,871 | $ 22,617 |
Current Loans | 1,500,606 | 1,309,976 |
Total loans | 1,519,477 | 1,332,593 |
30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 8,488 | 5,383 |
60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,525 | 955 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 7,858 | 16,279 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,967 | 8,446 |
Current Loans | 500,291 | 361,306 |
Total loans | 504,258 | 369,752 |
Commercial Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,511 | 488 |
Commercial Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 456 | 7,958 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 93,597 | 80,170 |
Total loans | 93,597 | 80,170 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,572 | 3,558 |
Current Loans | 227,829 | 171,898 |
Total loans | 231,401 | 175,456 |
Commercial Loans [Member] | Nonresidential [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,511 | |
Commercial Loans [Member] | Nonresidential [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 61 | 3,558 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 34 | 384 |
Current Loans | 8,339 | 8,917 |
Total loans | 8,373 | 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 | 34 | 384 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 68,158 | 38,812 |
Total loans | 68,158 | 38,812 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 361 | 4,504 |
Current Loans | 94,982 | 58,678 |
Total loans | 95,343 | 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 | 361 | 4,016 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 7,386 | 2,831 |
Total loans | 7,386 | 2,831 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 10,952 | 10,379 |
Current Loans | 787,669 | 764,204 |
Total loans | 798,621 | 774,583 |
Residential Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,774 | 3,843 |
Residential Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,717 | 635 |
Residential Mortgage Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 5,461 | 5,901 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 35,695 | 40,898 |
Total loans | 35,695 | 40,898 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 10,952 | 10,379 |
Current Loans | 751,974 | 723,306 |
Total loans | 762,926 | 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 | 3,774 | 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 | 1,717 | 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 | 5,461 | 5,901 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,952 | 3,792 |
Current Loans | 212,646 | 184,466 |
Total loans | 216,598 | 188,258 |
Consumer Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,203 | 1,052 |
Consumer Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 808 | 320 |
Consumer Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,941 | 2,420 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,068 | 3,017 |
Current Loans | 161,986 | 158,321 |
Total loans | 165,054 | 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 | 941 | 961 |
Consumer Loans [Member] | Home Equity [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 458 | 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 | 1,669 | 1,788 |
Consumer Loans [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 133 | 15 |
Current Loans | 39,476 | 11,333 |
Total loans | 39,609 | 11,348 |
Consumer Loans [Member] | Automobile [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 130 | 5 |
Consumer Loans [Member] | Automobile [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3 | 10 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 267 | 168 |
Current Loans | 1,529 | 2,531 |
Total loans | 1,796 | 2,699 |
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 | 267 | 117 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 478 | 565 |
Current Loans | 7,124 | 10,091 |
Total loans | 7,602 | 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 | 131 | 71 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 347 | |
Consumer Loans [Member] | Recreational Vehicle [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 494 | |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 6 | 27 |
Current Loans | 2,531 | 2,190 |
Total loans | 2,537 | 2,217 |
Consumer Loans [Member] | Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1 | 15 |
Consumer Loans [Member] | Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3 | 1 |
Consumer Loans [Member] | Other [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 2 | $ 11 |
Loans - Loans by Class Modified
Loans - Loans by Class Modified as TDRs (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)Loan | Dec. 31, 2015USD ($)Loan | Dec. 31, 2014USD ($)Loan | |
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 16 | 29 | 57 |
Pre-Modification Outstanding Recorded Investment | $ 7,124 | $ 2,155 | $ 3,954 |
Post-Modification Recorded Investment | $ 7,175 | $ 2,190 | $ 4,019 |
Commercial Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 4 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 6,134 | $ 120 | |
Post-Modification Recorded Investment | $ 6,140 | $ 120 | |
Commercial Loans [Member] | Nonresidential [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 4 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 6,134 | $ 120 | |
Post-Modification Recorded Investment | $ 6,140 | $ 120 | |
Residential Mortgage Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 8 | 14 | 29 |
Pre-Modification Outstanding Recorded Investment | $ 812 | $ 1,283 | $ 2,385 |
Post-Modification Recorded Investment | $ 853 | $ 1,337 | $ 2,447 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 8 | 14 | 29 |
Pre-Modification Outstanding Recorded Investment | $ 812 | $ 1,283 | $ 2,385 |
Post-Modification Recorded Investment | $ 853 | $ 1,337 | $ 2,447 |
Consumer Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 4 | 15 | 27 |
Pre-Modification Outstanding Recorded Investment | $ 178 | $ 872 | $ 1,449 |
Post-Modification Recorded Investment | $ 182 | $ 853 | $ 1,452 |
Consumer Loans [Member] | Home Equity [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 4 | 14 | 27 |
Pre-Modification Outstanding Recorded Investment | $ 178 | $ 844 | $ 1,449 |
Post-Modification Recorded Investment | $ 182 | $ 845 | $ 1,452 |
Consumer Loans [Member] | Other [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 28 | ||
Post-Modification Recorded Investment | $ 8 |
Loans - Loans by Class Modifi76
Loans - Loans by Class Modified as TDRs with Payment Default (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)Loan | Dec. 31, 2015USD ($)Loan | Dec. 31, 2014USD ($)Loan | |
Financing Receivable Modifications [Line Items] | |||
Number of loans | Loan | 2 | 4 | 5 |
Recorded Investment | $ | $ 3,606 | $ 77 | $ 530 |
Commercial Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans | Loan | 1 | ||
Recorded Investment | $ | $ 3,603 | ||
Commercial Loans [Member] | Nonresidential [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans | Loan | 1 | ||
Recorded Investment | $ | $ 3,603 | ||
Residential Mortgage Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans | Loan | 1 | 2 | 3 |
Recorded Investment | $ | $ 3 | $ 29 | $ 440 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans | Loan | 1 | 2 | 3 |
Recorded Investment | $ | $ 3 | $ 29 | $ 440 |
Consumer Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans | Loan | 2 | 2 | |
Recorded Investment | $ | $ 48 | $ 90 | |
Consumer Loans [Member] | Home Equity [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans | Loan | 1 | 2 | |
Recorded Investment | $ | $ 40 | $ 90 | |
Consumer Loans [Member] | Other [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of loans | Loan | 1 | ||
Recorded Investment | $ | $ 8 |
Loans - Risk Category of Loans
Loans - Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 1,519,477 | $ 1,332,593 |
Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,485,074 | 1,284,494 |
Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,126 | 10,998 |
Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 21,277 | 37,101 |
Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 21,277 | 37,101 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 504,258 | 369,752 |
Commercial Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 480,216 | 331,208 |
Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,021 | 10,885 |
Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 11,021 | 27,659 |
Commercial Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 11,021 | 27,659 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 93,597 | 80,170 |
Commercial Loans [Member] | Multifamily [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 89,468 | 75,535 |
Commercial Loans [Member] | Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,564 | 3,727 |
Commercial Loans [Member] | Multifamily [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 565 | 908 |
Commercial Loans [Member] | Multifamily [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 565 | 908 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 231,401 | 175,456 |
Commercial Loans [Member] | Nonresidential [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 217,204 | 151,415 |
Commercial Loans [Member] | Nonresidential [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,037 | 4,121 |
Commercial Loans [Member] | Nonresidential [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,160 | 19,920 |
Commercial Loans [Member] | Nonresidential [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,160 | 19,920 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,373 | 9,301 |
Commercial Loans [Member] | Land [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,339 | 8,917 |
Commercial Loans [Member] | Land [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 34 | 384 |
Commercial Loans [Member] | Land [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 34 | 384 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 68,158 | 38,812 |
Commercial Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 68,158 | 38,812 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 95,343 | 63,182 |
Commercial Loans [Member] | Secured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 89,756 | 53,801 |
Commercial Loans [Member] | Secured [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,420 | 3,037 |
Commercial Loans [Member] | Secured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,167 | 6,344 |
Commercial Loans [Member] | Secured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,167 | 6,344 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,386 | 2,831 |
Commercial Loans [Member] | Unsecured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,291 | 2,728 |
Commercial Loans [Member] | Unsecured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 95 | 103 |
Commercial Loans [Member] | Unsecured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 95 | 103 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 798,621 | 774,583 |
Residential Mortgage Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 790,691 | 767,820 |
Residential Mortgage Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 104 | 111 |
Residential Mortgage Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,826 | 6,652 |
Residential Mortgage Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,826 | 6,652 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 35,695 | 40,898 |
Residential Mortgage Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 35,695 | 40,898 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 762,926 | 733,685 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 754,996 | 726,922 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 104 | 111 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,826 | 6,652 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,826 | 6,652 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 216,598 | 188,258 |
Consumer Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 214,167 | 185,466 |
Consumer Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1 | 2 |
Consumer Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,430 | 2,790 |
Consumer Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,430 | 2,790 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 165,054 | 161,338 |
Consumer Loans [Member] | Home Equity [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 163,101 | 159,371 |
Consumer Loans [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,953 | 1,967 |
Consumer Loans [Member] | Home Equity [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,953 | 1,967 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 39,609 | 11,348 |
Consumer Loans [Member] | Auto [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 39,577 | 11,304 |
Consumer Loans [Member] | Auto [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1 | 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 | 1,796 | 2,699 |
Consumer Loans [Member] | Marine [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,530 | 2,428 |
Consumer Loans [Member] | Marine [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 266 | 271 |
Consumer Loans [Member] | Marine [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 266 | 271 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,602 | 10,656 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,424 | 10,157 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 178 | 499 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 178 | 499 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,537 | 2,217 |
Consumer Loans [Member] | Other [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,535 | 2,206 |
Consumer Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2 | 11 |
Consumer Loans [Member] | Other [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 2 | $ 11 |
Loans - Loans to Officers and_o
Loans - Loans to Officers and/or Directors (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Receivables [Abstract] | |
Beginning balance, loans | $ 519 |
New loans to officers and/or directors | 543 |
Loan payments during 2016 | (135) |
Ending balance, loans | $ 927 |
Mortgage Banking Activities - A
Mortgage Banking Activities - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Mortgage Loan Activity [Line Items] | |||
Mortgage loans serviced for others | $ 1,200,000,000 | $ 1,100,000,000 | |
Fair value of mortgage servicing rights | 10,200,000 | 9,100,000 | $ 9,000,000 |
Interest rate lock commitments for the future delivery of residential mortgage loans | 30,200,000 | 28,500,000 | |
Forward commitments for the future delivery of residential mortgage loans | 124,000,000 | 75,000,000 | |
Expense incurred for settlements | 0 | 554,000,000 | $ 374,000,000 |
Other reserve for settlements | 0 | 0 | |
FHLMC and FNMA [Member] | |||
Mortgage Loan Activity [Line Items] | |||
Customer escrow balances | $ 14,300,000 | $ 13,200,000 |
Mortgage Banking Activities - P
Mortgage Banking Activities - Principal Balance of Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 1,200,000 | $ 1,100,000 |
FHLMC [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | 956,278 | 878,300 |
FNMA [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 208,114 | $ 233,026 |
Mortgage Banking Activities - C
Mortgage Banking Activities - Capitalized Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Mortgage Banking [Abstract] | |||
Beginning balance | $ 5,686 | $ 5,535 | $ 5,941 |
Originations | 2,478 | 1,951 | 1,281 |
Amortized to expense | (2,094) | (1,800) | (1,687) |
Ending balance | 6,070 | 5,686 | 5,535 |
Less valuation allowance | (39) | (58) | |
Net balance | $ 6,070 | $ 5,647 | $ 5,477 |
Mortgage Banking Activities - V
Mortgage Banking Activities - Valuation Allowance for Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Mortgage Banking [Abstract] | |||
Balance, beginning of period | $ (39) | $ (58) | |
Impairment charges | (727) | (299) | $ (60) |
Recoveries | $ 766 | 318 | 2 |
Balance, end of period | $ (39) | $ (58) |
Mortgage Banking Activities - K
Mortgage Banking Activities - Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights (Detail) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Mortgage Banking [Abstract] | ||
Weighted average prepayment rate | 165.00% | 192.00% |
Weighted average life (in years) | 6 years 7 months 21 days | 3 years 5 months 19 days |
Weighted average discount rate | 9.00% | 9.00% |
Other Real Estate Owned and O84
Other Real Estate Owned and Other Repossessed Assets - Real Estate Owned and Other Repossessed Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Other Real Estate And Foreclosed Assets [Abstract] | ||||
Real estate owned and other repossessed assets | $ 2,789 | $ 3,956 | ||
Valuation allowance | (1,012) | (1,229) | $ (1,423) | $ (4,059) |
End of period | $ 1,777 | $ 2,727 |
Other Real Estate Owned and O85
Other Real Estate Owned and Other Repossessed Assets - Valuation Allowance Related to Real Estate Owned (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Other Real Estate And Foreclosed Assets [Abstract] | |||
Beginning of year | $ 1,229 | $ 1,423 | $ 4,059 |
Additions (recoveries) charged to expense | (16) | 287 | 580 |
Direct write-downs | (201) | (481) | (3,216) |
End of year | $ 1,012 | $ 1,229 | $ 1,423 |
Other Real Estate Owned and O86
Other Real Estate Owned and Other Repossessed Assets - Expenses Related to Foreclosed and Repossessed Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Other Real Estate And Foreclosed Assets [Abstract] | |||
Net loss on sales | $ 109 | $ 158 | $ 220 |
Provision for (recovery of) unrealized losses | (16) | 287 | 580 |
Operating expenses, net of rental income | 191 | 338 | 631 |
Total Expenses | $ 284 | $ 783 | $ 1,431 |
Premises and Equipment - Summar
Premises and Equipment - Summary of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 58,445 | $ 55,874 |
Less: Accumulated depreciation and amortization | 37,482 | 35,196 |
Total | 20,963 | 20,678 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 6,993 | 6,993 |
Buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 23,907 | 23,841 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 1,222 | 1,179 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 26,323 | $ 23,861 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property Plant And Equipment [Abstract] | |||
Depreciation expense | $ 2,300 | $ 2,100 | $ 1,900 |
Rent expense | $ 597 | $ 338 | $ 588 |
Premises and Equipment - Compon
Premises and Equipment - Component of Rent Commitments under Noncancelable Operating Leases (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Operating Leases Future Minimum Payments Due [Abstract] | |
2,017 | $ 661 |
2,018 | 724 |
2,019 | 726 |
2,020 | 729 |
2,021 | 732 |
Thereafter | 942 |
Total | $ 4,514 |
Goodwill and Other Intangible90
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) | Jan. 29, 2016 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Goodwill And Intangible Assets [Line Items] | |||||
Business acquisition, related costs | $ 787,000 | ||||
Goodwill | 208,000 | ||||
Amortization of intangible assets | $ 69,000 | $ 54,000 | $ 68,000 | ||
James & Sons Insurance Company [Member] | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Business acquisition date | Jan. 29, 2016 | ||||
Business acquisition, company stock | $ 1,500,000 | ||||
Business acquisition, cash | 360,000 | ||||
Business acquisition, related costs | $ 9,000 | ||||
Business acquisition, total assets purchase | 2,300,000 | ||||
Goodwill | 208,000 | $ 0 | $ 0 | ||
Other intangible assets | $ 1,400,000 |
Goodwill and Other Intangible91
Goodwill and Other Intangible Assets - Change in Goodwill (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Acquired goodwill | $ 208 |
End of the year | $ 208 |
Goodwill and Other Intangible92
Goodwill and Other Intangible Assets - Amortization Intangible Assets and Estimated Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 10,352 | $ 8,952 |
Accumulated Amortization | 8,991 | 8,922 |
Core deposits intangibles [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 8,952 | 8,952 |
Accumulated Amortization | 8,947 | $ 8,922 |
Customer list intangible [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 1,400 | |
Accumulated Amortization | $ 44 |
Goodwill and Other Intangible93
Goodwill and Other Intangible Assets - Estimated Amortization Expense (Detail) | Dec. 31, 2016USD ($) |
Intangible Assets Accumulated Amortization [Abstract] | |
2,017 | $ 98,000 |
2,018 | 93,000 |
2,019 | 93,000 |
2,020 | 93,000 |
2,021 | $ 93,000 |
Deposits - Components of Deposi
Deposits - Components of Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Checking accounts: | ||
Interest bearing | $ 158,270 | $ 160,264 |
Non-interest bearing | 256,918 | 227,505 |
Savings accounts | 294,564 | 280,889 |
Money market accounts | 316,813 | 312,125 |
Certificates of deposit | 488,426 | 454,960 |
Total deposits | $ 1,514,991 | $ 1,435,743 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Line Items] | ||
Related-party deposits | $ 3,500,000 | $ 2,800,000 |
Brokered deposits with Home Savings | 76,500,000 | 0 |
Certificates of deposit | 488,426,000 | 454,960,000 |
Federal Home Loan Bank | Certificates of Deposit | ||
Deposits [Line Items] | ||
Certificates of deposit | $ 12,900,000 | $ 12,300,000 |
Deposits - Interest Expense on
Deposits - Interest Expense on Deposits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest Expense Deposits [Abstract] | |||
Interest bearing demand deposits and money market accounts | $ 1,012 | $ 1,006 | $ 838 |
Savings accounts | 124 | 161 | 169 |
Certificates of deposit | 4,786 | 5,359 | 5,428 |
Total | $ 5,922 | $ 6,526 | $ 6,435 |
Deposits - Summary of Certifica
Deposits - Summary of Certificates of Deposit by Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Maturities Of Time Deposits [Abstract] | ||
2,017 | $ 305,912 | |
2,018 | 94,883 | |
2,019 | 29,294 | |
2,020 | 17,494 | |
2,021 | 19,913 | |
Thereafter | 20,930 | |
Total | $ 488,426 | $ 454,960 |
Deposits - Summary of Certifi98
Deposits - Summary of Certificates of Deposit with Balances of $250,000 or More by Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Contractual Maturities Of Time Deposits250000 Or More Disclosures [Abstract] | ||
Three months or less | $ 1,552 | $ 751 |
Over three months to six months | 10,346 | 2,067 |
Over six months to twelve months | 35,234 | 25,668 |
Over twelve months | 14,151 | 46,779 |
Total | $ 61,283 | $ 75,265 |
Federal Home Loan Bank Advanc99
Federal Home Loan Bank Advances - Summary of FHLB Advances (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank Advances Maturities Summary [Abstract] | ||
Within year, Amount | $ 343,000 | $ 232,000 |
2019, Amount | 47,756 | 46,975 |
Total Federal Home Loan Bank advances | $ 390,756 | $ 278,975 |
2016, Weighted average rate | 0.35% | |
2017, Weighted average rate | 0.64% | |
2019, Weighted average rate | 2.73% | 2.19% |
Total federal home loan bank advances, Weighted average rate | 0.90% | 0.66% |
Federal Home Loan Bank Advan100
Federal Home Loan Bank Advances - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2014 | Dec. 31, 2015 | Nov. 18, 2014 | |
Federal Home Loan Bank Advances [Line Items] | ||||
Remaining credit available for collateral with FHLB | $ 172,100 | $ 206,300 | ||
Minimum ratio required of collateral to advances for one-to-four-family loans | 115.00% | |||
Modified fixed rate term advances | $ 50,000 | |||
Weighted average maturity period, fixed | 2 years | |||
Weighted average maturity period, floating | 5 years | |||
Amortized modified borrowing | 5 years | |||
Amount of prepayment penalty | $ 786 | $ 1,059 | $ 3,900 | |
Effective rate on modified borrowings | 2.73% | 2.19% | ||
Fixed Rate [Member] | ||||
Federal Home Loan Bank Advances [Line Items] | ||||
Interest rate | 4.20% | |||
Floating Rate [Member] | ||||
Federal Home Loan Bank Advances [Line Items] | ||||
Interest rate | 1.16% | 0.62% |
Securities Sold Under Agreem101
Securities Sold Under Agreement to Repurchase and Other Borrowings - Summary of Securities Sold under an Agreement to Repurchase and Other Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities Sold Under Agreements To Repurchase [Abstract] | ||
Other borrowings, Amount | $ 512 | $ 535 |
Total borrowings, Amount | $ 512 | $ 535 |
Other borrowings, Weighted average rate | 4.00% | 4.00% |
Total borrowings, Weighted average rate | 4.00% | 4.00% |
Securities Sold Under Agreem102
Securities Sold Under Agreement to Repurchase and Other Borrowings - Summary of Balances and Interest Rates (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Securities Sold Under Agreements To Repurchase [Abstract] | |||
Average daily balance during the year | $ 523,000 | $ 29,891,000 | $ 82,102,000 |
Average interest rate during the year | 4.00% | 4.19% | 4.10% |
Maximum month end balance during the year | $ 535,000 | $ 30,556,000 | $ 90,577,000 |
Weighted average interest rate at year end | 4.00% | 4.00% | 4.00% |
Securities Sold Under Agreem103
Securities Sold Under Agreement to Repurchase and Other Borrowings - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2016 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Prepayment penalty on repurchase agreements | $ 1,300,000 | |
Other borrowings, Amount | 535,000 | $ 512,000 |
Home Savings [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Repurchase agreements outstanding | 0 | $ 0 |
Amount prepaid on repurchase agreements | 30,000,000 | |
Prepayment penalty on repurchase agreements | $ 1,300,000 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||||||||||
Current | $ 300 | $ 577 | $ 89 | ||||||||
Deferred | 7,843 | 7,316 | 2,978 | ||||||||
Change in valuation allowance | (42,802) | ||||||||||
Income tax provision (benefit), total amount | $ 1,734 | $ 2,288 | $ 2,529 | $ 1,592 | $ 1,965 | $ 2,073 | $ 2,040 | $ 1,815 | $ 8,143 | $ 7,893 | $ (39,735) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Line Items] | ||||
Tax (benefit) at statutory rate, rate | 35.00% | 35.00% | 35.00% | |
Reversal of valuation allowance on net deferred tax allowance | $ 42,800,000 | |||
Operating loss carryforwards used against taxable income | $ 24,500,000 | |||
Expiration dates, operating loss carried forward | Dec. 31, 2030 | |||
Alternative minimum tax credits carried forward | $ 1,500,000 | |||
Retained earnings for which no provision made | 21,100,000 | |||
Unrecorded deferred tax liability | 7,300,000 | |||
Deficit tax earnings and profits | 152,675,000 | $ 140,819,000 | ||
Unrecognized tax benefits or accrued interest and penalties | $ 0 | $ 0 | ||
Year under examination by taxing authorities | 2,013 | |||
Home Savings [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Deficit tax earnings and profits | $ 19,900,000 |
Income Taxes - Summary of Diffe
Income Taxes - Summary of Difference in Effective Tax Rates and Statutory Federal Income Tax Rate of 35% (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||||||||||
Tax (benefit) at statutory rate, amount | $ 9,440 | $ 8,461 | $ 3,665 | ||||||||
Tax exempt income, amount | (471) | (45) | |||||||||
Life insurance, amount | (523) | (602) | (500) | ||||||||
Other, amount | 208 | 79 | (98) | ||||||||
Disproportionate tax reversal, amount | (511) | ||||||||||
Valuation allowance, amount | (42,802) | ||||||||||
Income tax provision (benefit), total amount | $ 1,734 | $ 2,288 | $ 2,529 | $ 1,592 | $ 1,965 | $ 2,073 | $ 2,040 | $ 1,815 | $ 8,143 | $ 7,893 | $ (39,735) |
Tax (benefit) at statutory rate, rate | 35.00% | 35.00% | 35.00% | ||||||||
Tax exempt income, rate | (1.70%) | (0.20%) | |||||||||
Life insurance, rate | (1.90%) | (2.50%) | (4.80%) | ||||||||
Other, rate | 0.70% | 0.30% | (0.90%) | ||||||||
Disproportionate tax reversal, rate | (1.90%) | ||||||||||
Valuation allowance, rate | (408.80%) | ||||||||||
Income tax provision (benefit), total rate | 30.20% | 32.60% | (379.50%) |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Nov. 18, 2014 |
Deferred tax assets: | |||
Loan loss reserves | $ 6,680 | $ 6,199 | |
Postretirement benefits | 564 | ||
Depreciation | 748 | 611 | |
Other real estate owned valuation | 354 | 430 | |
Tax credits carryforward | 1,471 | 951 | |
Unrealized loss on securities available for sale | 1,685 | 1,341 | |
Unrealized loss on securities held to maturity | 431 | 517 | |
Interest on nonaccrual loans | 1,039 | 834 | |
Net operating loss carryforward | 8,574 | 16,903 | |
Purchase accounting adjustment | 90 | ||
Accrued bonuses | 812 | 723 | |
Other | 221 | 50 | |
Deferred tax assets | 22,015 | 29,213 | |
Deferred tax liabilities: | |||
Deferred loan fees | 1,275 | 510 | |
Federal Home Loan Bank stock dividends | 4,585 | 4,585 | |
Mortgage servicing rights | 2,124 | 1,976 | |
FHLB prepayment penalty | 786 | 1,059 | $ 3,900 |
Postretirement benefits accrual | 447 | ||
Purchase accounting adjustment | 371 | ||
Prepaid expenses | 139 | 215 | |
Deferred tax liabilities | 9,280 | 8,792 | |
Net deferred tax asset | $ 12,735 | $ 20,421 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Equity [Abstract] | ||||
Cash dividend payments, per share | $ 0.11 | $ 0.07 | $ 0.02 | |
Home Savings retained earnings distributed | $ 0 | |||
Dividend received by United Community from Home Savings | 23,500,000 | |||
Reclassification of net gains or (losses) included in accumulated other comprehensive income | 604,000 | $ 142,000 | $ 444,000 | |
Effect of disproportionate tax on accumulated other comprehensive income (loss) | $ (16,600,000) | |||
Home Savings established a liquidation account, totaling | $ 141,400,000 |
Shareholders' Equity - Summary
Shareholders' Equity - Summary of Accumulated Other Comprehensive Income (Loss) to Net Income Balances (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | $ (41,665) | |||
Balance | $ 244,245 | $ 240,135 | 175,074 | |
Other comprehensive income (loss) before reclassifications | (245) | 1,036 | 22,099 | |
Amortization of unrealized gains of postretirement plan recognized in other comprehensive income | (1,342) | |||
Accretion of unrealized losses transferred from available for sale to held to maturity recognized in other comprehensive income | 160 | 39 | ||
Reclassification adjustment for (gains) losses realized in income | (393) | (297) | (432) | |
Total other comprehensive income (loss) | (1,820) | 778 | 21,667 | |
Balance | 249,806 | 244,245 | 240,135 | |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | (40,393) | |||
Income tax | $ 14,138 | |||
Balance | (2,492) | (4,315) | (26,255) | |
Transfer of losses from available for sale to held to maturity | 999 | |||
Other comprehensive income (loss) before reclassifications | (245) | 916 | 22,229 | |
Reclassification adjustment for (gains) losses realized in income | (393) | (92) | (289) | |
Total other comprehensive income (loss) | (638) | 1,823 | 21,940 | |
Balance | (3,130) | (2,492) | (4,315) | |
Disproportionate Tax Effect from Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | (2,972) | |||
Income tax | (14,138) | |||
Balance | (17,110) | (17,110) | (17,110) | |
Balance | (17,110) | (17,110) | (17,110) | |
Unrealized Gains (Losses) on Held to Maturity [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | (960) | |||
Transfer of losses from available for sale to held to maturity | (999) | |||
Accretion of unrealized losses transferred from available for sale to held to maturity recognized in other comprehensive income | 160 | 39 | ||
Total other comprehensive income (loss) | 160 | (960) | ||
Balance | (800) | (960) | ||
Unrealized Gains (Losses) from Postretirement Plan [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | 1,829 | |||
Income tax | (640) | |||
Balance | 831 | 916 | 1,189 | |
Other comprehensive income (loss) before reclassifications | 120 | (130) | ||
Amortization of unrealized gains of postretirement plan recognized in other comprehensive income | (831) | |||
Reclassification adjustment for (gains) losses realized in income | (205) | (143) | ||
Total other comprehensive income (loss) | (831) | (85) | (273) | |
Balance | 831 | 916 | ||
Disproportionate Tax Effect from Postretirement Plan [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | (129) | |||
Income tax | $ 640 | |||
Balance | 511 | 511 | 511 | |
Amortization of unrealized gains of postretirement plan recognized in other comprehensive income | (511) | |||
Total other comprehensive income (loss) | (511) | |||
Balance | 511 | 511 | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | (19,220) | (19,998) | (41,665) | |
Total other comprehensive income (loss) | (1,820) | 778 | 21,667 | |
Balance | $ (21,040) | $ (19,220) | $ (19,998) |
Shareholders' Equity - Summa110
Shareholders' Equity - Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) to Net Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | |||||||||||
Net gains on securities available for sale | $ 604 | $ 142 | $ 444 | ||||||||
Reduction of salaries & employee benefits expense | 1,278 | 315 | 220 | ||||||||
Tax (expense) benefit | $ (1,734) | $ (2,288) | $ (2,529) | $ (1,592) | $ (1,965) | $ (2,073) | $ (2,040) | $ (1,815) | (8,143) | (7,893) | 39,735 |
Net income | $ 5,025 | $ 5,153 | $ 5,330 | $ 3,320 | $ 4,328 | $ 4,143 | $ 4,125 | $ 3,686 | 18,828 | 16,282 | 50,206 |
Amount Reclassified From Accumulated Other Comprehensive Income to Net Income [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | |||||||||||
Net income | 1,735 | 297 | 432 | ||||||||
Amount Reclassified From Accumulated Other Comprehensive Income to Net Income [Member] | Unrealized Gains (Losses) on Securities Available for Sale [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | |||||||||||
Net gains on securities available for sale | 604 | 142 | 444 | ||||||||
Tax (expense) benefit | (211) | (50) | (155) | ||||||||
Net income | 393 | 92 | 289 | ||||||||
Amount Reclassified From Accumulated Other Comprehensive Income to Net Income [Member] | Amortization of Postretirement Benefits Prior Service Costs [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | |||||||||||
Reduction of salaries & employee benefits expense | 1,278 | 315 | 220 | ||||||||
Tax (expense) benefit | (447) | (110) | (77) | ||||||||
Disproportionate tax benefit effect from plan settlement | 511 | ||||||||||
Net income | $ 1,342 | $ 205 | $ 143 |
Regulatory Capital Matters - Ad
Regulatory Capital Matters - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
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. | |
Scenario Forecast [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital conservation buffer rate | 1.25% |
Regulatory Capital Matters - Ac
Regulatory Capital Matters - Actual and Statutory Required Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Home Savings [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual Amount | $ 248,861 | $ 240,697 |
Tier 1 capital (to risk-weighted assets), Actual Amount | 229,938 | 224,486 |
Common equity Tier 1 capital (to risk-weighted assets), Actual Amount | 229,938 | 224,486 |
Tier 1 capital (to average assets), Actual Amount | $ 229,938 | $ 224,486 |
Total capital (to risk-weighted assets), Actual Ratio | 16.47% | 18.72% |
Tier 1 capital (to risk-weighted assets), Actual Ratio | 15.22% | 17.46% |
Common equity Tier 1 capital (to risk-weighted assets), Actual Ratio | 15.22% | 17.46% |
Tier 1 capital (to average assets), Actual Ratio | 10.65% | 11.46% |
Total capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Amount | $ 130,292 | $ 102,879 |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Amount | 100,079 | 77,159 |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Amount | 77,420 | 57,869 |
Tier 1 capital (to average assets), Minimum Capital Requirements For Capital Adequacy Purposes Amount | $ 86,360 | $ 78,347 |
Total capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Ratio | 8.625% | 8.00% |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Ratio | 6.625% | 6.00% |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Ratio | 5.125% | 4.50% |
Tier 1 capital (to average assets), Minimum Capital Requirements For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Total capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 151,063 | $ 128,599 |
Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 120,850 | 102,879 |
Common equity Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 98,191 | 83,589 |
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 107,950 | $ 97,934 |
Total capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 8.00% |
Common equity Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | 6.50% |
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
United Community [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual Amount | $ 277,817 | $ 261,732 |
Tier 1 capital (to risk-weighted assets), Actual Amount | 258,869 | 245,503 |
Common equity Tier 1 capital (to risk-weighted assets), Actual Amount | 258,869 | 245,503 |
Tier 1 capital (to average assets), Actual Amount | $ 258,869 | $ 245,503 |
Total capital (to risk-weighted assets), Actual Ratio | 18.38% | 20.35% |
Tier 1 capital (to risk-weighted assets), Actual Ratio | 17.13% | 19.09% |
Common equity Tier 1 capital (to risk-weighted assets), Actual Ratio | 17.13% | 19.09% |
Tier 1 capital (to average assets), Actual Ratio | 11.98% | 12.53% |
Total capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Amount | $ 130,369 | $ 102,886 |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Amount | 100,139 | 77,165 |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Amount | 77,466 | 57,874 |
Tier 1 capital (to average assets), Minimum Capital Requirements For Capital Adequacy Purposes Amount | $ 86,425 | $ 78,348 |
Total capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Ratio | 8.625% | 8.00% |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Ratio | 6.625% | 6.00% |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements For Capital Adequacy Purposes Ratio | 5.125% | 4.50% |
Tier 1 capital (to average assets), Minimum Capital Requirements For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Total capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 151,153 | $ 128,608 |
Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 120,922 | 102,886 |
Common equity Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 98,249 | 83,595 |
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 108,031 | $ 97,934 |
Total capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 8.00% |
Common equity Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | 6.50% |
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Regulatory Capital Matters - Co
Regulatory Capital Matters - Components of Regulatory Capital (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | $ 249,806 | $ 244,245 | $ 240,135 | $ 175,074 |
Accumulated other comprehensive loss | 21,040 | 19,220 | ||
Home Savings [Member] | ||||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | 216,475 | 220,872 | ||
Accumulated other comprehensive loss | 21,056 | 19,236 | ||
Intangible assets | (3) | (12) | ||
Disallowed deferred tax assets | (7,590) | (15,610) | ||
Tier 1 Capital | 229,938 | 224,486 | ||
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 18,923 | 16,211 | ||
Total risk-based capital | 248,861 | 240,697 | ||
United Community [Member] | ||||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | 249,806 | 244,245 | ||
Accumulated other comprehensive loss | 21,040 | 19,220 | ||
Intangible assets | (1,567) | (12) | ||
Disallowed deferred tax assets | (10,410) | (17,950) | ||
Tier 1 Capital | 258,869 | 245,503 | ||
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 18,948 | 16,229 | ||
Total risk-based capital | $ 277,817 | $ 261,732 |
Regulatory Capital Matters -114
Regulatory Capital Matters - Components of Regulatory Capital (Parenthetical) (Detail) | Dec. 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% |
Benefit Plans - Additional Info
Benefit Plans - Additional Information (Detail) - USD ($) | Jul. 12, 1999 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Apr. 30, 2015 | Apr. 26, 2007 |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Minimum year of service to qualify for post-retirement medical benefits | 20 years | |||||
Minimum age to qualify for post-retirement medical benefits | 60 years | |||||
Condition to qualify for post-retirement medical benefits | Employees who worked 20 years and attained a minimum age of 60 by September 1, 2000 | |||||
Gain on curtailments | $ 1,072,000 | |||||
Unrealized gains, reduction of salaries and employee benefits | $ 1,200,000 | |||||
Accumulated benefit obligation | $ 333,000 | |||||
Matching contribution percentage | 50.00% | 50.00% | 25.00% | |||
Maximum pre-tax contribution of the employees' base pay | 6.00% | 6.00% | 6.00% | |||
Percentage of vesting of participants in Home Savings contributions | 100.00% | |||||
Minimum service required for vesting in Home Savings contribution | 3 years | |||||
Expense related to the plan | $ 480,000 | $ 465,000 | $ 224,000 | |||
Stock Option [Member] | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Option expiry term (Years) | 10 years | |||||
Shares, Granted | 0 | 6,618 | 7,124 | |||
Stock-based compensation expense | $ 9,000 | $ 24,000 | $ 25,000 | |||
Expected additional expense for 2017 | $ 1,000 | |||||
Weighted-average recognition period of nonvested stock options expense | 6 months | |||||
Weighted average remaining life for outstanding stock | 3 years 4 months 24 days | |||||
Exercise price range, lower range limit | $ 1.20 | |||||
Exercise price range, upper range limit | $ 5.89 | |||||
Restricted Stock [Member] | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $ 970,000 | $ 756,000 | $ 482,000 | |||
Expected additional expense for 2017 | $ 655,000 | |||||
Nonvested shares | 341,184 | 260,490 | ||||
Vested shares during 2017 | 148,963 | |||||
Vested shares during 2018 | 98,450 | |||||
Vested shares during 2019 | 93,771 | |||||
Expected additional expense for 2018 | $ 412,000 | |||||
Expected additional expense for 2019 | $ 137,000 | |||||
Total average per share fair value of shares vested | $ 5.97 | $ 5.48 | $ 4.73 | |||
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 | |||||
Unrecognized cost of nonvested stock options granted | $ 1,000 | |||||
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 | |||||
Option expiry term (Years) | 10 years | |||||
1999 Long-Term Incentive Plan [Member] | Stock Option [Member] | Beginning on December 31, 2009 [Member] | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Stock-based compensation vesting period | 3 years | |||||
Annual 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% | |||||
Annual Incentive Plan [Member] | Restricted Stock [Member] | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $ 356,000 | $ 269,000 | $ 286,000 | |||
Annual 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 | |||||
Annual Incentive Plan [Member] | Cash Portion [Member] | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $ 1,300,000 | 804,000 | 640,000 | |||
Long Term Incentive Plan [Member] | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Stock-based compensation expense | $ 693,000 | $ 199,000 | $ 179,000 |
Benefit Plans - Summary of Chan
Benefit Plans - Summary of Changes in Benefit Obligation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Change in Benefit Obligation: | ||
Benefit obligation at beginning of year | $ 333 | $ 1,636 |
Net periodic benefit cost (benefit) | (1,268) | (261) |
Actuarial gain | 1,268 | 131 |
Benefits paid | $ (333) | (101) |
Curtailment gain | (1,072) | |
Benefit obligation at end of the year | 333 | |
Funded status of the plan | $ (333) |
Benefit Plans - Amounts Recogni
Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Income (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Compensation And Retirement Disclosure [Abstract] | |
Prior service credit | $ 228 |
Net actuarial gains | 1,050 |
Net current period other comprehensive loss, Postretirement Benefits | $ 1,278 |
Benefit Plans - Components of N
Benefit Plans - Components of Net Periodic Benefit Cost/(Benefit) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation And Retirement Disclosure [Abstract] | |||
Interest cost | $ 10 | $ 53 | $ 56 |
Net amortization of prior service cost (benefit) | (228) | (228) | (77) |
Amortization of net actuarial gain | (1,050) | (86) | (142) |
Curtailment gain | (1,072) | ||
Net periodic benefit cost | (1,268) | (1,333) | (163) |
Net (gain) loss | (184) | 200 | |
Amortization of prior service cost and net actuarial gain | 1,278 | 315 | 220 |
Total recognized in other comprehensive income | 1,278 | 131 | 420 |
Total recognized in net periodic benefit cost and other comprehensive income | $ 10 | $ (1,202) | $ 257 |
Assumptions used in the valuations were as follows: | |||
Weighted average discount rate | 3.90% | 3.90% | 3.40% |
Benefit Plans - Summary of Acti
Benefit Plans - Summary of Activity in Plans (Detail) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($)$ / sharesshares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Shares, Outstanding at beginning of year | shares | 572,323 |
Shares, Exercised | shares | (199,905) |
Shares, Forfeited | shares | (1,200) |
Shares, Outstanding at end of period | shares | 371,218 |
Shares, Options exercisable at end of period | shares | 364,600 |
Weighted average exercise price, Outstanding at beginning of year | $ / shares | $ 2.56 |
Weighted average exercise price, Exercised | $ / shares | 2.60 |
Weighted average exercise price, Forfeited | $ / shares | 2.10 |
Weighted average exercise price, Outstanding at end of period | $ / shares | 2.55 |
Weighted average exercise price, Options exercisable at the end of period | $ / shares | $ 2.50 |
Aggregate intrinsic value, Outstanding at end of period | $ | $ 2,358 |
Aggregate intrinsic value, Options exercisable at the end of period | $ | $ 2,349 |
Benefit Plans - Information Rel
Benefit Plans - Information Related to the Stock Options Granted and Exercised (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||
Intrinsic value of options exercised | $ 883,000 | $ 48,000 | $ 147,000 |
Cash received from option exercises | 517,000 | $ 28,000 | $ 172,000 |
Tax benefit realized from option exercises | $ 82 | ||
Weighted average fair value of options granted | $ 1.70 | $ 1.73 |
Benefit Plans - Weighted-Averag
Benefit Plans - Weighted-Average Assumptions for Determining Fair Value of Options Granted (Detail) - Stock Option [Member] | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Risk-free interest rate | 0.00% | 1.49% | 1.74% |
Expected term (years) | 5 years | 5 years | |
Expected stock volatility | 0.00% | 35.95% | 85.75% |
Dividend yield | 0.00% | 0.74% | 0.80% |
Benefit Plans - Summary of C122
Benefit Plans - Summary of Changes in Company's Nonvested Restricted Shares (Detail) - Restricted Stock [Member] | 12 Months Ended |
Dec. 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 | 200,856 |
Shares, Vested | shares | (117,234) |
Shares, Forfeited | shares | (2,928) |
Shares, Nonvested shares, Ending balance | shares | 341,184 |
Weighted average exercise price, Nonvested shares, Beginning balance | $ / shares | $ 4.68 |
Weighted average exercise price, Granted | $ / shares | 6.04 |
Weighted average exercise price, Vested | $ / shares | 4.61 |
Weighted average exercise price, Forfeited | $ / shares | 4.53 |
Weighted average exercise price, Nonvested shares, Ending balance | $ / shares | $ 5.50 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
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 | 4,000,000 | 4,900,000 | |
Specific allowance for collateral dependent loans | $ 1,300,000 | 548,000 | |
Discount applied to appraisals for estimated selling costs percentage | 10.00% | ||
Mortgage servicing rights valuation | $ 39,000 | 19,000 | $ (58,000) |
Other real estate owned carried at fair value | 1,000,000 | 2,000,000 | |
Valuation allowance related to other real estate owned | 1,000,000 | 1,200,000 | |
Additions (recoveries) charged to expense | (16,000) | 287,000 | $ 580,000 |
Losses from changes in fair value included in earnings | $ (1,769,000) | 1,519,000 | |
Maximum maturity period of short term borrowings | 90 days | ||
Interest Rate Caps [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Interest rate caps | $ 0 | 3,000 | |
One-to Four-Family [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Fair value option loans held for sale using forward contract period | 15 days | ||
One-to Four-Family [Member] | Significant Other Observable Inputs (Level 2) [Member] | Minimum [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Period of conventional mortgages loan considered | 15 years | ||
One-to Four-Family [Member] | Significant Other Observable Inputs (Level 2) [Member] | Maximum [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Period of conventional mortgages loan considered | 30 years | ||
Construction [Member] | Loans Held For Sale [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Losses from changes in fair value included in earnings | $ (1,796,000) | 1,519,000 | |
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 | ||
Construction [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Fair value option loans held for sale using forward contract period | 60 days | ||
Period of conventional mortgages loan considered | 30 years | ||
Collateral Dependent Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Increase (decrease) in provision for loan losses | $ 4,100,000 | 29,000 | |
Mortgage Servicing Rights [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Mortgage servicing rights carried at fair value | $ 0 | 604,000 | |
Mortgage Servicing Rights [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Mortgage servicing rights carried at fair value | $ 604,000 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | $ 343,284 | $ 357,670 |
Loans held for sale, at fair value | 62,593 | 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 | 62,593 | 26,716 |
Interest rate caps | 3 | |
Purchased certificate of deposit option | 882 | 805 |
Written certificate of deposit option | 882 | 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 | 186,033 | 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 | 57,757 | 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 | 99,494 | 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 | 8,832 | |
Purchased certificate of deposit option | 882 | 805 |
Written certificate of deposit option | 882 | 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 | 186,033 | 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 | 57,757 | 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 | 99,494 | 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 | $ 53,761 | 26,716 |
Interest rate caps | $ 3 |
Fair Value - Reconciliation of
Fair Value - Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 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 | $ (1,769) | $ 1,519 |
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 | 385 | 341 |
Included in other comprehensive income | 0 | 0 |
Purchases | 0 | 0 |
Amortization | (388) | (518) |
Sales | 0 | 0 |
Balance of recurring Level 3 assets at end of period | 3 | |
Construction 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 | (1,796) | 1,519 |
Included in other comprehensive income | 0 | 0 |
Originations | 82,878 | 41,026 |
Sales | (54,037) | (15,829) |
Balance of recurring Level 3 assets at end of period | $ 53,761 | $ 26,716 |
Fair Value - Quantitative Infor
Fair Value - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | $ 62,593 | $ 26,716 |
Construction [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | 62,593 | 26,716 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | 62,593 | 26,716 |
Interest rate caps | 3 | |
Fair Value, Measurements, Recurring [Member] | Comparable Sales [Member] | Construction [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | $ 53,761 | $ 26,716 |
Fair Value, Measurements, Recurring [Member] | Comparable Sales [Member] | Minimum [Member] | Construction [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Time discount using the 60 day forward contract | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Comparable Sales [Member] | Maximum [Member] | Construction [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Time discount using the 60 day forward contract | 1.80% | 1.80% |
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] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount rate | 0.49% | |
Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount rate | 1.18% |
Fair Value - Assets Measured on
Fair Value - Assets Measured on Non-recurring Basis (Detail) - USD ($) | Dec. 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 | $ 0 | $ 604,000 |
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 | 2,257,000 | 2,857,000 |
Other real estate owned, net | 175,000 | |
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 | 284,000 | |
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 | 175,000 | |
Fair Value, Measurements, Nonrecurring [Member] | One-to Four-Family [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other real estate owned, net | 281,000 | |
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 | 228,000 | 392,000 |
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 | 177,000 | 1,000 |
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 | 89,000 | |
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 | 748,000 | 785,000 |
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 | 919,000 | 1,493,000 |
Other real estate owned, net | 1,088,000 | |
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 | 604,000 | |
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 | 2,257,000 | 2,857,000 |
Other real estate owned, net | 175,000 | |
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 | 284,000 | |
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 | 175,000 | |
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] | ||
Other real estate owned, net | 281,000 | |
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 | 228,000 | 392,000 |
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 | 177,000 | 1,000 |
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 | 89,000 | |
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 | 748,000 | 785,000 |
Significant Unobservable Inputs (Level 3) [Member] | 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 | $ 919,000 | 1,493,000 |
Other real estate owned, net | $ 1,088,000 |
Fair Value - Quantitative In128
Fair Value - 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 | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Impaired Loans [Member] | Nonresidential [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 2,257 | $ 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 | 15.00% | 10.79% |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 284 | |
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 | 64.00% | |
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 | 16.00% | |
Impaired Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 228 | $ 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] | 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 | $ 919 | $ 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] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 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% | |
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% | |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 748 | $ 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] | Minimum [Member] | Cost Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 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 | 90.40% | 50.00% |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Maximum [Member] | Cost Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 33.33% | |
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 | 27.46% | 21.71% |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Weighted Average [Member] | Cost Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 16.67% | |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 281 | $ 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 | 27.00% | 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 | 7.74% | 15.51% |
Other Real Estate Owned [Member] | Nonresidential [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 175 |
Fair Value - Fair Value Option
Fair Value - Fair Value Option for Newly Originated Permanent Construction Loans Held for Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Aggregate fair value | $ 62,593 | $ 26,716 |
Construction [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Aggregate fair value | 62,593 | 26,716 |
Contractual balance | 62,843 | 25,197 |
Gain (loss) | $ (250) | $ 1,519 |
Fair Value - Carrying Value and
Fair Value - Carrying Value and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | $ 45,887 | $ 35,910 | $ 32,980 | $ 77,331 |
Available for sale securities, Fair value | 343,284 | 357,670 | ||
Held to maturity securities, Carrying Value | 97,519 | 110,699 | ||
Loans held for sale at lower of cost or market, Carrying Value | 165 | 9,085 | ||
Loans held for sale, at fair value | 62,593 | 26,716 | ||
Loans, net, Carrying Value | 1,503,577 | 1,316,192 | ||
FHLB stock, Carrying Value | 18,068 | 18,068 | ||
Accrued interest receivable, Carrying Value | 6,900 | 5,978 | ||
FHLB advances, Carrying Value | (390,756) | (278,975) | ||
Repurchase agreements and other, Carrying Value | (512) | (535) | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (23,812) | (21,174) | ||
Accrued interest payable, Carrying Value | (145) | (53) | ||
Written certificate of deposit option, Carrying Value | (488,426) | (454,960) | ||
Held to maturity securities, Fair value | 96,150 | 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 | 45,887 | 35,910 | ||
Available for sale securities, Fair value | 343,284 | 357,670 | ||
Held to maturity securities, Carrying Value | 97,519 | 110,699 | ||
Loans held for sale at lower of cost or market, Carrying Value | 165 | 9,085 | ||
Loans held for sale, at fair value | 62,593 | 26,716 | ||
Loans, net, Carrying Value | 1,503,577 | 1,316,192 | ||
FHLB stock, Carrying Value | 18,068 | 18,068 | ||
Accrued interest receivable, Carrying Value | 6,900 | 5,978 | ||
Interest rate caps, Carrying Value | 3 | |||
Purchased certificate of deposit option, Carrying Value | 882 | 805 | ||
Checking, savings and money market accounts, Carrying Value | (1,026,565) | (980,783) | ||
Certificates of deposit, Carrying Value | (488,426) | (454,960) | ||
FHLB advances, Carrying Value | (390,756) | (278,975) | ||
Repurchase agreements and other, Carrying Value | (512) | (535) | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (23,812) | (21,174) | ||
Accrued interest payable, Carrying Value | (145) | (53) | ||
Written certificate of deposit option, Carrying Value | (882) | (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 | 45,887 | 35,910 | ||
Checking, savings and money market accounts, Fair Value | (1,026,565) | (980,783) | ||
Advance payments by borrowers for taxes and insurance, Fair Value | (23,812) | (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 | 343,284 | 357,670 | ||
Loans held for sale, at fair value | 8,832 | |||
Held to maturity securities, Fair value | 92,940 | 108,536 | ||
Loans held for sale at lower of cost or market, Fair Value | 169 | 9,207 | ||
Accrued interest receivable, Fair Value | 2,624 | 2,276 | ||
Purchased certificate of deposit option, Fair Value | 882 | 805 | ||
Certificates of deposit, Fair Value | (491,278) | (459,433) | ||
FHLB advances, Fair Value | (390,750) | (279,053) | ||
Repurchase agreements and other, Fair Value | (513) | (548) | ||
Accrued interest payable, Fair Value | (145) | (53) | ||
Written certificate of deposit option, Fair Value | (882) | (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 | 53,761 | 26,716 | ||
Held to maturity securities, Fair value | 3,210 | 1,108 | ||
Loans, net, Fair Value | 1,494,534 | 1,322,338 | ||
Accrued interest receivable, Fair Value | $ 4,276 | 3,702 | ||
Interest rate caps, Fair Value | $ 3 |
Statement of Cash Flows Supp131
Statement of Cash Flows Supplemental Disclosure - Supplemental Disclosures of Cash Flow Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Supplemental Cash Flow Information [Line Items] | |||
Interest on deposits and borrowings | $ 8,336 | $ 9,245 | $ 12,190 |
Income taxes | 475 | 375 | 130 |
Supplemental schedule of noncash activities: | |||
Securities transferred from available for sale to held to maturity, at fair value | 103,768 | ||
Accretion of securities held to maturity | 247 | 131 | |
Transfers from loans to real estate owned | 971 | $ 2,264 | $ 1,982 |
Transfers from loans to other assets | 6,384 | ||
James & Sons Insurance Company [Member] | |||
Supplemental schedule of noncash activities: | |||
Issuance of common stock-James & Sons acquisition | $ 1,547 |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Other assets | $ 33,182,000 | $ 29,870,000 | |
Options increased | (3,000) | (177,000) | $ (366,000) |
Written And Purchased Certificate Of Deposit Option [Member] | |||
Derivative [Line Items] | |||
Interest rate caps | 882,000 | 805,000 | |
Options increased | 77,000 | ||
Interest Rate Caps [Member] | |||
Derivative [Line Items] | |||
Interest rate caps | $ 0 | 3,000 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Caps [Member] | |||
Derivative [Line Items] | |||
Home Savings entered into an interest rate cap agreements | Oct. 31, 2011 | ||
Other assets | $ 0 | 3,000 | |
Change in fair value | $ (3,000) | $ (177,000) | $ (366,000) |
Derivatives - Summary Informati
Derivatives - Summary Information About the Interest Rate Caps Not Designated Hedges (Detail) - Interest Rate Caps [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2016 | |
Non Hedging Interest Rate Derivatives [Line Items] | ||
Notional amounts | $ 100,000,000 | |
Weighted average strike rate, based on three-month LIBOR | 1.50% | |
Weighted average maturity remaining | 9 months | |
Fair value of combined interest rate caps | $ 3,000 | $ 0 |
Derivatives - Net Gains_(Losses
Derivatives - Net Gains/(Losses) Recorded in Noninterest Income Relating to Instruments Not Designated as Hedges (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Interest Rate Caps [Member] | Not Designated as Hedging Instrument [Member] | ||
Other Non Interest Income Non Hedging Interest Rate Derivatives [Line Items] | ||
Other noninterest income | $ (177) | $ (366) |
Derivatives - Summary Inform135
Derivatives - Summary Information About Purchased and Written Options (Detail) - Written And Purchased Certificate Of Deposit Option [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Non Hedging Interest Rate Derivatives [Line Items] | ||
Notion amount of purchased/written option | $ 13,789 | $ 13,468 |
Weighted average maturity | 3 years 10 months 24 days | 4 years 9 months 18 days |
Fair value of purchased/written option | $ 882 | $ 805 |
Derivatives - Freestanding Deri
Derivatives - Freestanding Derivative Assets and Liabilities Not Designated as Hedges (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Derivatives Fair Value [Line Items] | ||
Other assets | $ 33,182,000 | $ 29,870,000 |
Other liabilities | 0 | 0 |
Not Designated as Hedging Instrument [Member] | Interest Rate Caps [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other assets | 0 | 3,000 |
Not Designated as Hedging Instrument [Member] | Purchased Certificate of Deposit Option [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other assets | 882,000 | 805,000 |
Not Designated as Hedging Instrument [Member] | Written Certificate of Deposit Option [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other liabilities | $ 882,000 | $ 805,000 |
Parent Company Financial Sta137
Parent Company Financial Statements - Condensed Statements of Financial Condition (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and deposits with banks | $ 27,690 | $ 20,528 | ||
Total cash and cash equivalents | 45,887 | 35,910 | $ 32,980 | $ 77,331 |
Other assets | 33,182 | 29,870 | ||
Total assets | 2,191,345 | 1,987,989 | ||
Liabilities and Shareholders' Equity | ||||
Total liabilities | 1,941,539 | 1,743,744 | ||
Total shareholders' equity | 249,806 | 244,245 | 240,135 | 175,074 |
Total liabilities and shareholders’ equity | 2,191,345 | 1,987,989 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash and deposits with banks | 25,924 | 21,163 | ||
Total cash and cash equivalents | 25,924 | 21,163 | $ 20,764 | $ 28,906 |
Other assets | 2,878 | 2,395 | ||
Total assets | 250,459 | 244,431 | ||
Liabilities and Shareholders' Equity | ||||
Accrued expenses and other liabilities | 653 | 186 | ||
Total liabilities | 653 | 186 | ||
Total shareholders' equity | 249,806 | 244,245 | ||
Total liabilities and shareholders’ equity | 250,459 | 244,431 | ||
Parent Company [Member] | Home Savings [Member] | ||||
Assets | ||||
Investment in subsidiary | 216,475 | $ 220,873 | ||
Parent Company [Member] | HSB Capital LLC [Member] | ||||
Assets | ||||
Investment in subsidiary | 3,014 | |||
Parent Company [Member] | HSB Insurance LLC [Member] | ||||
Assets | ||||
Investment in subsidiary | $ 2,168 |
Parent Company Financial sta138
Parent Company Financial statements - Condensed Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income | |||||||||||
Interest income | $ 18,495 | $ 17,815 | $ 17,399 | $ 17,020 | $ 16,836 | $ 16,654 | $ 16,111 | $ 16,034 | $ 70,729 | $ 65,635 | $ 63,244 |
Non-interest income | 5,635 | 6,003 | 5,780 | 4,658 | 5,451 | 4,873 | 5,275 | 4,118 | 22,076 | 19,717 | 13,741 |
Expenses | |||||||||||
Non-interest expenses | 13,717 | 12,978 | 12,860 | 12,464 | 12,755 | 12,285 | 12,208 | 12,681 | 52,019 | 49,929 | 55,960 |
Income tax benefit | 1,734 | 2,288 | 2,529 | 1,592 | 1,965 | 2,073 | 2,040 | 1,815 | 8,143 | 7,893 | (39,735) |
Net income | $ 5,025 | $ 5,153 | $ 5,330 | $ 3,320 | $ 4,328 | $ 4,143 | $ 4,125 | $ 3,686 | 18,828 | 16,282 | 50,206 |
Comprehensive income | 17,008 | 17,060 | 71,873 | ||||||||
Parent Company [Member] | |||||||||||
Income | |||||||||||
Interest income | 8 | ||||||||||
Non-interest income | 331 | ||||||||||
Total income | 339 | ||||||||||
Expenses | |||||||||||
Non-interest expenses | 1,658 | 1,017 | 867 | ||||||||
Total expenses | 1,658 | 1,017 | 867 | ||||||||
Loss before income taxes | (1,658) | (1,017) | (528) | ||||||||
Income tax benefit | (481) | (356) | (2,035) | ||||||||
Income (loss) before equity in undistributed net earnings of subsidiaries | (1,177) | (661) | 1,507 | ||||||||
Earnings distributed by subsidiaries | 23,500 | 15,000 | |||||||||
Undistributed earnings (loss) of subsidiaries | (3,495) | 1,943 | 48,699 | ||||||||
Net income | 18,828 | 16,282 | 50,206 | ||||||||
Comprehensive income | $ 17,008 | $ 17,060 | $ 71,873 |
Parent Company Financial Sta139
Parent Company Financial Statements - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash Flows from Operating Activities | |||||||||||
Net income | $ 5,025 | $ 5,153 | $ 5,330 | $ 3,320 | $ 4,328 | $ 4,143 | $ 4,125 | $ 3,686 | $ 18,828 | $ 16,282 | $ 50,206 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Net gains on securities sales | (604) | (142) | (444) | ||||||||
Increase (decrease) in other liabilities | 4,059 | (1,529) | (1,098) | ||||||||
Net cash from operating activities | 8,510 | 13,750 | (2,762) | ||||||||
Sales of: | |||||||||||
Securities available for sale | 33,701 | 16,627 | 14,595 | ||||||||
Net cash from investing activities | (177,145) | (148,300) | (66,376) | ||||||||
Cash Flows from Financing Activities | |||||||||||
Purchase of treasury stock | (9,596) | (10,333) | (6,389) | ||||||||
Dividends paid | (5,172) | (3,369) | (1,001) | ||||||||
Proceeds from the exercise of stock options | 517 | 28 | 172 | ||||||||
Net cash from financing activities | 178,612 | 137,480 | 24,787 | ||||||||
Change in cash and cash equivalents | 9,977 | 2,930 | (44,351) | ||||||||
Cash and cash equivalents, beginning of period | 35,910 | 32,980 | 35,910 | 32,980 | 77,331 | ||||||
Cash and cash equivalents, end of period | 45,887 | 35,910 | 45,887 | 35,910 | 32,980 | ||||||
Parent Company [Member] | |||||||||||
Cash Flows from Operating Activities | |||||||||||
Net income | 18,828 | 16,282 | 50,206 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Decrease (increase) in undistributed earnings of the subsidiaries | 3,495 | (1,943) | (48,699) | ||||||||
Increase in deferred tax assets | (481) | (356) | (1,996) | ||||||||
Decrease in other assets | 16 | 4 | |||||||||
Net gains on securities sales | (331) | ||||||||||
Increase (decrease) in other liabilities | 154 | 86 | (535) | ||||||||
Net cash from operating activities | 22,012 | 14,073 | (1,355) | ||||||||
Sales of: | |||||||||||
Securities available for sale | 431 | ||||||||||
Net cash from investing activities | (3,000) | 431 | |||||||||
Cash Flows from Financing Activities | |||||||||||
Purchase of treasury stock | (9,596) | (10,333) | (6,389) | ||||||||
Dividends paid | (5,172) | (3,369) | (1,001) | ||||||||
Proceeds from the exercise of stock options | 517 | 28 | 172 | ||||||||
Net cash from financing activities | (14,251) | (13,674) | (7,218) | ||||||||
Change in cash and cash equivalents | 4,761 | 399 | (8,142) | ||||||||
Cash and cash equivalents, beginning of period | $ 21,163 | $ 20,764 | 21,163 | 20,764 | 28,906 | ||||||
Cash and cash equivalents, end of period | $ 25,924 | $ 21,163 | 25,924 | $ 21,163 | $ 20,764 | ||||||
Parent Company [Member] | HSB Capital LLC [Member] | |||||||||||
Sales of: | |||||||||||
Equity investment | $ (3,000) |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016Segment | |
Segment Reporting [Abstract] | |
Reportable operating segment | 1 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Stock Option [Member] | |||
Earnings Per Common Share [Line Items] | |||
Number of anti-dilutive shares related to stock options | 0 | 76,317 | 74,869 |
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 | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||||||
Net income per consolidated statements of income | $ 5,025 | $ 5,153 | $ 5,330 | $ 3,320 | $ 4,328 | $ 4,143 | $ 4,125 | $ 3,686 | $ 18,828 | $ 16,282 | $ 50,206 |
Net income allocated to participating securities | (121) | (81) | (209) | ||||||||
Net income allocated to common stock | 18,707 | 16,201 | 49,997 | ||||||||
Distributed earnings allocated to common stock | 5,140 | 3,350 | 1,001 | ||||||||
Undistributed earnings allocated to common stock | 13,567 | 12,851 | 48,996 | ||||||||
Net earnings allocated to common stock | $ 18,707 | $ 16,201 | $ 49,997 | ||||||||
Weighted average common shares outstanding, including shares considered participating securities | 46,967 | 48,320 | 50,125 | ||||||||
Less: Average participating securities | (301) | (242) | (208) | ||||||||
Weighted average shares | 46,666 | 48,078 | 49,917 | ||||||||
Basic earnings per common share | $ 0.11 | $ 0.11 | $ 0.11 | $ 0.07 | $ 0.09 | $ 0.09 | $ 0.08 | $ 0.07 | $ 0.40 | $ 0.34 | $ 1 |
Weighted average common shares outstanding for basic earnings per common share | 46,666 | 48,078 | 49,917 | ||||||||
Add: Dilutive potential common shares | 371 | 272 | 251 | ||||||||
Weighted average shares and dilutive potential common shares | 47,037 | 48,350 | 50,168 | ||||||||
Diluted earnings per common share | $ 0.11 | $ 0.11 | $ 0.11 | $ 0.07 | $ 0.09 | $ 0.09 | $ 0.08 | $ 0.07 | $ 0.40 | $ 0.34 | $ 1 |
Quarterly Financial Informat143
Quarterly Financial Information - Summary of Quarterly Data (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Interest income | $ 18,495 | $ 17,815 | $ 17,399 | $ 17,020 | $ 16,836 | $ 16,654 | $ 16,111 | $ 16,034 | $ 70,729 | $ 65,635 | $ 63,244 |
Interest expense | 2,161 | 2,055 | 2,065 | 2,147 | 2,346 | 2,353 | 2,260 | 2,154 | 8,428 | 9,113 | 11,825 |
Net interest income | 16,334 | 15,760 | 15,334 | 14,873 | 14,490 | 14,301 | 13,851 | 13,880 | 62,301 | 56,522 | 51,419 |
Provision (recovery) for loan losses | 1,493 | 1,344 | 395 | 2,155 | 893 | 673 | 753 | (184) | 5,387 | 2,135 | (1,271) |
Net interest income after provision for loan losses | 14,841 | 14,416 | 14,939 | 12,718 | 13,597 | 13,628 | 13,098 | 14,064 | 56,914 | 54,387 | 52,690 |
Non-interest income | 5,635 | 6,003 | 5,780 | 4,658 | 5,451 | 4,873 | 5,275 | 4,118 | 22,076 | 19,717 | 13,741 |
Non-interest expenses | 13,717 | 12,978 | 12,860 | 12,464 | 12,755 | 12,285 | 12,208 | 12,681 | 52,019 | 49,929 | 55,960 |
Income before income taxes | 6,759 | 7,441 | 7,859 | 4,912 | 6,293 | 6,216 | 6,165 | 5,501 | 26,971 | 24,175 | 10,471 |
Income tax expense (benefit) | 1,734 | 2,288 | 2,529 | 1,592 | 1,965 | 2,073 | 2,040 | 1,815 | 8,143 | 7,893 | (39,735) |
Net income | $ 5,025 | $ 5,153 | $ 5,330 | $ 3,320 | $ 4,328 | $ 4,143 | $ 4,125 | $ 3,686 | $ 18,828 | $ 16,282 | $ 50,206 |
Earnings per share: | |||||||||||
Basic earnings | $ 0.11 | $ 0.11 | $ 0.11 | $ 0.07 | $ 0.09 | $ 0.09 | $ 0.08 | $ 0.07 | $ 0.40 | $ 0.34 | $ 1 |
Diluted earnings | $ 0.11 | $ 0.11 | $ 0.11 | $ 0.07 | $ 0.09 | $ 0.09 | $ 0.08 | $ 0.07 | $ 0.40 | $ 0.34 | $ 1 |
Quarterly Financial Informat144
Quarterly Financial Information - Summary of Quarterly Data (Parenthetical) (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | |
Merger related expenses | $ 787,000 | ||
Prepayment penalty on repurchase agreements | $ 1,300,000 | ||
OLCB [Member] | |||
Merger related expenses | $ 787,000 | $ 787,000 |
Qualified Affordable Housing145
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments in Affordable Housing Projects [Abstract] | |||
Investment in qualified affordable housing projects | $ 3,000,000 | $ 0 | |
Unfunded commitments of investments in qualified affordable housing projects | 2,900,000 | 0 | |
Recognized amortization expense included in income tax expense | 21,000 | 0 | $ 0 |
Recognized tax credits and other benefits from investment in affordable housing tax credits | 26,000 | 0 | |
Impairment losses related to investment in qualified affordable housing projects | $ 0 | $ 0 |