Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 31, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | UCFC | |
Entity Registrant Name | UNITED COMMUNITY FINANCIAL CORP | |
Entity Central Index Key | 707,886 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 49,770,126 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets: | ||
Cash and deposits with banks | $ 29,600 | $ 27,690 |
Federal funds sold | 8,410 | 18,197 |
Total cash and cash equivalents | 38,010 | 45,887 |
Securities: | ||
Available for sale, at fair value | 274,822 | 343,284 |
Held to maturity, (fair value of $85,024 and $96,150, respectively) | 85,549 | 97,519 |
Loans held for sale, at lower of cost or market | 196 | 165 |
Loans held for sale, at fair value | 84,349 | 62,593 |
Loans, net of allowance for loan losses of $20,555 and $19,087 | 1,947,695 | 1,503,577 |
Federal Home Loan Bank stock, at cost | 19,324 | 18,068 |
Premises and equipment, net | 22,132 | 20,963 |
Accrued interest receivable | 7,253 | 6,900 |
Real estate owned and other repossessed assets, net | 1,143 | 1,777 |
Goodwill | 19,488 | 208 |
Cash surrender value of life insurance | 62,050 | 55,861 |
Other assets | 36,247 | 33,182 |
Total assets | 2,602,365 | 2,191,345 |
Deposits: | ||
Non-interest bearing | 343,146 | 256,918 |
Interest bearing | ||
Customer deposits | 1,438,944 | 1,181,557 |
Brokered deposits | 156,609 | 76,516 |
Total interest bearing deposits | 1,595,553 | 1,258,073 |
Total deposits | 1,938,699 | 1,514,991 |
Federal Home Loan Bank advances | ||
Long-term Federal Home Loan Bank advances | 48,341 | 47,756 |
Short-term Federal Home Loan Bank advances | 280,000 | 343,000 |
Total Federal Home Loan Bank advances | 328,341 | 390,756 |
Repurchase agreements and other | 10,191 | 512 |
Total borrowed funds | 338,532 | 391,268 |
Advance payments by borrowers for taxes and insurance | 16,048 | 23,812 |
Accrued interest payable | 722 | 145 |
Accrued expenses and other liabilities | 16,513 | 11,323 |
Total liabilities | 2,310,514 | 1,941,539 |
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 49,758,487 and 46,581,370 shares, respectively, outstanding | 177,460 | 174,360 |
Retained earnings | 164,988 | 152,675 |
Accumulated other comprehensive income (loss) | (17,929) | (21,040) |
Treasury stock, at cost, 4,380,423 and 7,557,540 shares, respectively | (32,668) | (56,189) |
Total shareholders’ equity | 291,851 | 249,806 |
Total liabilities and shareholders’ equity | 2,602,365 | 2,191,345 |
Customer list intangible [Member] | ||
Securities: | ||
Intangible assets | 2,090 | 1,356 |
Core deposit intangibles [Member] | ||
Securities: | ||
Intangible assets | $ 2,017 | $ 5 |
CONDENSED CONSOLIDATED STATEME3
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Statement Of Financial Position [Abstract] | ||
Held to maturity, Fair Value | $ 85,024 | $ 96,150 |
Allowance for loan losses | $ 20,555 | $ 19,087 |
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 | 49,758,487 | 46,581,370 |
Treasury stock, shares | 4,380,423 | 7,557,540 |
CONDENSED CONSOLIDATED STATEME4
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest income | ||||
Loans | $ 20,697 | $ 14,633 | $ 58,266 | $ 42,618 |
Loans held for sale | 882 | 482 | 2,415 | 1,177 |
Securities available for sale, nontaxable | 416 | 339 | 1,252 | 752 |
Securities available for sale, taxable | 1,276 | 1,630 | 4,357 | 5,346 |
Securities held to maturity, nontaxable | 49 | 66 | 163 | 183 |
Securities held to maturity, taxable | 424 | 466 | 1,343 | 1,567 |
Federal Home Loan Bank stock dividends | 253 | 180 | 694 | 542 |
Other interest earning assets | 51 | 19 | 171 | 49 |
Total interest income | 24,048 | 17,815 | 68,661 | 52,234 |
Interest expense | ||||
Deposits | 2,226 | 1,389 | 5,834 | 4,497 |
Federal Home Loan Bank advances | 1,315 | 661 | 3,334 | 1,754 |
Repurchase agreements and other | 4 | 5 | 20 | 16 |
Total interest expense | 3,545 | 2,055 | 9,188 | 6,267 |
Net interest income | 20,503 | 15,760 | 59,473 | 45,967 |
Provision for loan losses | 721 | 1,344 | 3,038 | 3,894 |
Net interest income after provision for loan losses | 19,782 | 14,416 | 56,435 | 42,073 |
Non-interest income | ||||
Insurance agency income | 509 | 451 | 1,454 | 1,269 |
Brokerage income | 271 | 337 | 894 | 1,033 |
Deposit related fees | 1,499 | 1,418 | 4,200 | 4,106 |
Mortgage servicing fees | 760 | 715 | 2,225 | 2,114 |
Mortgage servicing rights valuation | (10) | 25 | (15) | (702) |
Mortgage servicing rights amortization | (491) | (525) | (1,426) | (1,560) |
Other service fees | 21 | 43 | 83 | 108 |
Net gains: | ||||
Securities available for sale (includes $236, $218, $566 and $604, respectively, accumulated other comprehensive income reclassifications for unrealized net gains on available for sale securities) | 236 | 218 | 566 | 604 |
Mortgage banking income | 1,688 | 1,957 | 5,128 | 5,208 |
Real estate owned and other repossessed assets, net | (73) | (143) | (76) | |
Debit/credit card fees | 971 | 915 | 3,220 | 2,916 |
Trust fees | 449 | 1,151 | ||
Other income | 475 | 449 | 1,442 | 1,421 |
Total non-interest income | 6,305 | 6,003 | 18,779 | 16,441 |
Non-interest expense | ||||
Salaries and employee benefits (includes $0, $(445), $0 and $(1,001), respectively, accumulated other comprehensive income reclassifications from prior service credit on postretirement plan). | 8,736 | 6,950 | 26,460 | 21,224 |
Occupancy | 1,013 | 847 | 2,920 | 2,564 |
Equipment and data processing | 2,303 | 1,926 | 6,688 | 5,648 |
Financial institutions tax | 348 | 411 | 1,348 | 1,284 |
Advertising | 285 | 290 | 674 | 638 |
Amortization of intangible assets | 113 | 72 | 308 | 95 |
FDIC insurance premiums | 301 | 155 | 829 | 768 |
Other insurance premiums | 115 | 89 | 336 | 251 |
Legal and consulting fees | 156 | 211 | 569 | 622 |
Other professional fees | 666 | 341 | 1,606 | 762 |
Real estate owned and other repossessed asset expenses | 33 | 41 | 118 | 190 |
Acquisition costs | 4,962 | |||
Other expenses | 1,395 | 1,645 | 4,112 | 4,256 |
Total non-interest expenses | 15,464 | 12,978 | 50,930 | 38,302 |
Income before income taxes | 10,623 | 7,441 | 24,284 | 20,212 |
Income tax expense (includes $83, $232, $198 and $561 income tax expense from reclassification items) | 3,067 | 2,288 | 7,001 | 6,409 |
Net income | 7,556 | 5,153 | 17,283 | 13,803 |
Other comprehensive income | ||||
Unrealized gain (loss) on securities, available for sale, net of reclassifications and tax of $262, $(737), $1,624 and $5,117, respectively | 486 | (1,369) | 3,013 | 9,502 |
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, net of tax of $18, $25, $53 and $63, respectively | 33 | 47 | 98 | 118 |
Accretion of unrecognized actuarial gains and amortization of prior service credit on postretirement plan, net of tax of $0, $(156), $0 and $(350), respectively recognized in net income | (289) | (651) | ||
Total other comprehensive income (loss) | 519 | (1,611) | 3,111 | 8,969 |
Comprehensive income | $ 8,075 | $ 3,542 | $ 20,394 | $ 22,772 |
Earnings per share | ||||
Basic | $ 0.15 | $ 0.11 | $ 0.35 | $ 0.29 |
Diluted | $ 0.15 | $ 0.11 | $ 0.35 | $ 0.29 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Statement [Abstract] | ||||
Accumulated other comprehensive income | $ 236 | $ 218 | $ 566 | $ 604 |
Accumulated other comprehensive income reclassification from prior service credit on postretirement plan | 0 | (445) | 0 | (1,001) |
Income tax expense from reclassification items | 83 | 232 | 198 | 561 |
Unrealized gain on securities available for sale, net of reclassifications, tax | 262 | (737) | 1,624 | 5,117 |
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, tax | 18 | 25 | 53 | 63 |
Accretion of unrecognized actuarial gains and amortization of prior service credit on postretirement plan, tax | $ 0 | $ (156) | $ 0 | $ (350) |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Ohio Legacy Corp. [Member] | James & Sons Insurance [Member] | Common Stock [Member] | Common Stock [Member]Ohio Legacy Corp. [Member] | Common Stock [Member]James & Sons Insurance [Member] | Retained Earnings [Member] | Retained Earnings [Member]James & Sons Insurance [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Treasury Stock [Member]Ohio Legacy Corp. [Member] | Treasury Stock [Member]James & Sons Insurance [Member] |
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 | 13,803 | 13,803 | ||||||||||
Other comprehensive income | 8,969 | 8,969 | ||||||||||
Stock option exercises, value | 462 | (782) | 1,244 | |||||||||
Stock option exercises, shares | 165,405 | |||||||||||
Stock option expense | 8 | $ 8 | ||||||||||
Restricted stock grants, value | $ (1,157) | (328) | 1,485 | |||||||||
Restricted stock grants, shares | 192,874 | |||||||||||
Restricted stock expense | 716 | $ 716 | ||||||||||
Restricted stock forfeitures, value | $ 13 | 14 | (27) | |||||||||
Restricted stock forfeitures, shares | (2,928) | |||||||||||
Purchase of shares, value | $ 1,547 | $ (501) | $ 2,048 | |||||||||
Purchase of shares, shares | 262,705 | |||||||||||
Cash dividend payments | (3,776) | (3,776) | ||||||||||
Treasury stock purchases, value | (9,571) | (9,571) | ||||||||||
Treasury stock purchases, shares | (1,593,312) | |||||||||||
Balance at Sep. 30, 2016 | 256,403 | $ 173,884 | 149,249 | (10,251) | (56,479) | |||||||
Balance, shares at Sep. 30, 2016 | 46,542,388 | |||||||||||
Balance at Jun. 30, 2016 | (8,640) | |||||||||||
Net income | 5,153 | |||||||||||
Other comprehensive income | (1,611) | |||||||||||
Balance at Sep. 30, 2016 | 256,403 | $ 173,884 | 149,249 | (10,251) | (56,479) | |||||||
Balance, shares at Sep. 30, 2016 | 46,542,388 | |||||||||||
Balance at Dec. 31, 2016 | 249,806 | $ 174,360 | 152,675 | (21,040) | (56,189) | |||||||
Balance, shares at Dec. 31, 2016 | 46,581,370 | |||||||||||
Net income | 17,283 | 17,283 | ||||||||||
Other comprehensive income | 3,111 | 3,111 | ||||||||||
Stock option exercises, value | $ 216 | $ (381) | 597 | |||||||||
Stock option exercises, shares | 80,085 | 80,085 | ||||||||||
Stock option expense | $ 1 | $ 1 | ||||||||||
Restricted stock grants, value | $ (564) | 564 | ||||||||||
Restricted stock grants, shares | 75,875 | |||||||||||
Restricted stock expense | 696 | $ 696 | ||||||||||
Vesting of Long-term Incentive Plan, value | 597 | $ 87 | 510 | |||||||||
Vesting of Long-term Incentive Plan, shares | 68,783 | |||||||||||
Purchase of shares, value | $ 25,816 | $ 3,261 | $ 22,555 | |||||||||
Purchase of shares, shares | 3,033,604 | |||||||||||
Cash dividend payments | (4,970) | (4,970) | ||||||||||
Treasury stock purchases, value | (705) | (705) | ||||||||||
Treasury stock purchases, shares | (81,230) | |||||||||||
Balance at Sep. 30, 2017 | 291,851 | $ 177,460 | 164,988 | (17,929) | (32,668) | |||||||
Balance, shares at Sep. 30, 2017 | 49,758,487 | |||||||||||
Balance at Jun. 30, 2017 | (18,448) | |||||||||||
Net income | 7,556 | |||||||||||
Other comprehensive income | 519 | |||||||||||
Balance at Sep. 30, 2017 | $ 291,851 | $ 177,460 | $ 164,988 | $ (17,929) | $ (32,668) | |||||||
Balance, shares at Sep. 30, 2017 | 49,758,487 |
CONDENSED CONSOLIDATED STATEME7
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Statement Of Stockholders Equity [Abstract] | ||
Cash dividend payments, per share | $ 0.10 | $ 0.08 |
CONDENSED CONSOLIDATED STATEME8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash Flows from Operating Activities | ||
Net income | $ 17,283,000 | $ 13,803,000 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Provision for loan losses | 3,038,000 | 3,894,000 |
Mortgage banking income | (1,140,000) | (3,003,000) |
Changes in fair value on loans held for sale | (3,988,000) | (2,205,000) |
Net losses on real estate owned and other repossessed assets sold | 143,000 | 76,000 |
Net gain on available for sale securities sold | (566,000) | (604,000) |
Net gain on other assets sold | (2,000) | |
Amortization of premiums and accretion of discounts | 3,169,000 | 5,320,000 |
Depreciation and amortization | 2,018,000 | 1,729,000 |
Net change in interest receivable | 326,000 | (88,000) |
Net change in interest payable | 506,000 | 64,000 |
Net change in prepaid and other assets | 2,107,000 | (3,040,000) |
Net change in other liabilities | 3,956,000 | 2,570,000 |
Stock based compensation | 697,000 | 724,000 |
Net principal disbursed on loans originated for sale | (194,232,000) | (214,201,000) |
Proceeds from sale of loans held for sale | 203,676,000 | 192,994,000 |
Net change in deferred tax assets | 2,047,000 | 5,707,000 |
Cash surrender value of life insurance | (1,189,000) | (1,108,000) |
Tax benefit recognized on stock based compensation | (300,000) | |
Net change in interest rate caps | 3,000 | |
Net cash from operating activities | 37,551,000 | 2,633,000 |
Cash Flows from Investing Activities | ||
Proceeds from the principal repayments and maturities of securities available for sale | 19,164,000 | 21,896,000 |
Proceeds from the principal repayments and maturities of securities held to maturity | 11,625,000 | 10,270,000 |
Proceeds from the sale of securities available for sale | 62,906,000 | 33,702,000 |
Proceeds from the sale of real estate owned and other repossessed assets | 1,231,000 | 1,671,000 |
Proceeds from the sale of loans held for investment | 2,250,000 | 1,000 |
Proceeds from the sale of premises and equipment | 3,000 | 2,000 |
Purchases of premises and equipment | (1,943,000) | (1,591,000) |
Principal disbursed on loans, net of repayments | (172,222,000) | (129,388,000) |
Loans purchased | (45,350,000) | (33,203,000) |
Purchase of bank owned life insurance | (5,000,000) | |
Purchase of securities available for sale | (38,843,000) | |
Purchase of securities held to maturity | (3,200,000) | |
Net cash (paid) received in acquisition of insurance agencies | (144,000) | 107,000 |
Net cash from investing activities | (101,701,000) | (138,576,000) |
Cash Flows from Financing Activities | ||
Net increase in checking, savings and money market accounts | 37,125,000 | 44,937,000 |
Net increase (decrease) in certificates of deposit | 120,496,000 | (7,637,000) |
Net decrease in advance payments by borrowers for taxes and insurance | (8,297,000) | (6,416,000) |
Net change in short-term FHLB advances | (86,500,000) | 126,000,000 |
Net change in repurchase agreements and other borrowed funds | (1,092,000) | (18,000) |
Proceeds from the exercise of stock options | 216,000 | 462,000 |
Dividends paid | (4,970,000) | (3,776,000) |
Purchase of treasury stock | (705,000) | (9,571,000) |
Net cash from financing activities | 56,273,000 | 143,981,000 |
Change in cash and cash equivalents | (7,877,000) | 8,038,000 |
Cash and cash equivalents, beginning of period | 45,887,000 | 35,910,000 |
Cash and cash equivalents, end of period | 38,010,000 | $ 43,948,000 |
OLCB [Member] | ||
Cash Flows from Investing Activities | ||
Net cash received in acquisition | $ 25,779,000 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | 1. BASIS OF PRESENTATION United Community Financial Corp. (United Community or the Company) was incorporated in the State of Ohio in February 1998 for the purpose of owning all of the outstanding capital stock of Home Savings and Loan Company of Youngstown, Ohio (Home Savings or the Bank) issued upon the conversion of Home Savings from a mutual savings association to a permanent capital stock savings association (Conversion). Upon consummation of the Conversion on July 8, 1998, United Community became the unitary thrift holding company for Home Savings. Home Savings conducts its business from its main office located in Youngstown, Ohio, 35 retail banking offices, 13 loan production centers and three wealth management offices located throughout Ohio, western Pennsylvania and West Virginia. On January 29, 2016, United Community acquired James & Sons Insurance. James & Sons Insurance was merged into HSB Insurance, LLC, a wholly-owned subsidiary of United Community. 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. On February 28, 2017, James & Sons Insurance acquired Eich Brothers Insurance. Eich Brothers Insurance is an insurance agency that offers insurance products for business and residential customers, which include auto, commercial, homeowners and life-health. On July 1, 2017, James & Sons Insurance acquired Stevens Insurance Agency, that offers insurance products for business and residential customers, which include auto, commercial, homeowners and life-health. HSB Capital, LLC, a wholly-owned subsidiary of United Community, 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 repaid from the cash flow from the operations of the business. On January 31, 2017, United Community completed its acquisition of Ohio Legacy Corp. (OLCB). Immediately following the acquisition of OLCB, Home Savings was merged into Premier Bank & Trust, OLCB’s wholly-owned subsidiary state chartered bank (PB&T), and PB&T changed its name to Home Savings Bank. As a result of the acquisition, United Community issued 3,033,604 United Community common shares and paid $20.4 million to OLCB shareholders. Also, in connection with the acquisition, United Community became a financial holding company, and its wholly owned subsidiary is now an Ohio bank. HSB Insurance, Inc., a wholly-owned subsidiary of the Company which was formed and began operations on June 1, 2017, is a Delaware-based captive insurance company which insures against certain risks unique to the operations of the Company and its subsidiaries and for which insurance may not be currently available or economically feasible in today's insurance marketplace. HSB Insurance, Inc. pools resources with several other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves. HSB Insurance, Inc. is subject to regulations of the State of Delaware and undergoes periodic examinations by the Delaware Division of Insurance. The accompanying consolidated financial statements of United Community have been prepared in accordance with instructions relating to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles (U.S. GAAP) for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments) that are, in the opinion of management, necessary for a fair statement of results for the interim periods. The results of operations for the three and nine months ended September 30, 2017, are not necessarily indicative of the results to be expected for the year ending December 31, 2017. The consolidated financial statements and notes thereto should be read in conjunction with the audited financial statements and notes contained in United Community’s Form 10-K for the year ended December 31, 2016. The consolidated financial statements include the accounts of United Community and its subsidiaries, Home Savings, HSB Insurance, LLC, HSB Capital, LLC and HSB Insurance, Inc. All material inter-company transactions have been eliminated. Some items in the prior year financial statements were reclassified to conform to the current presentation. These reclassifications had no effect on prior year consolidated statements of operations or shareholders’ equity. |
RECENT ACCOUNTING DEVELOPMENTS
RECENT ACCOUNTING DEVELOPMENTS | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Changes And Error Corrections [Abstract] | |
RECENT ACCOUNTING DEVELOPMENTS | 2. RECENT ACCOUNTING DEVELOPMENTS In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) – Deferral of the Effective Date In January 2016, the FASB issued ASU 2016-01 , Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, Compensation - Stock Compensation. In June 2016, FASB Issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In August 2016, FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments • Debt prepayment or debt extinguishment costs. • 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. • Contingent consideration payments made after a business combination. • Proceeds from the settlement of insurance claims. • Proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies. • Distributions received from equity method investees. • Beneficial interests in securitization transactions. • 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. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In March 2017, the FASB issued Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. In May 2017, the FASB issued ASU No. 2017-09 , Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting . ASU 2017-09 applies to entities that change the terms or conditions of a share-based payment award. The FASB adopted ASU 2017-09 to provide clarity and reduce diversity in practice as well as cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation , to the modification of the terms and conditions of a share-based payment award. The amendments in ASU 2017-09 include guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. These amendments require the entity to account for the effects of a modification unless all of the following conditions are met: • The fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the modified award is the same as the fair value (or value using an alternative measurement method) of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation technique that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification; • The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and • The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The amendments are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period for. The amendments should be applied prospectively to an award modified on or after the adoption date. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. In July 2017, the FASB ASU No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815 ) : (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. ASU 2017-11 simplifies the accounting for certain financial instruments with down round features, a provision in an equity-linked financial instrument (or embedded feature) that provides a downward adjustment of the current exercise price based on the price of future equity offerings. The new ASU will require companies to disregard the down round feature when assessing whether the instrument is indexed to its own stock, for purposes of determining liability or equity classification. Companies that provide earnings per share (EPS) data will adjust their basic EPS calculation for the effect of the feature when triggered (i.e., when the exercise price of the related equity-linked financial instrument is adjusted downward because of the down round feature) and will also recognize the effect of the trigger within equity. The provisions of the new ASU related to down rounds are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted for all entities. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. |
STOCK COMPENSATION
STOCK COMPENSATION | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
STOCK COMPENSATION | 3. STOCK COMPENSATION Stock Options: On April 30, 2015, shareholders approved the United Community Financial Corp. 2015 Long-Term Incentive Compensation Plan (the 2015 Plan). The purpose of the 2015 Plan is to provide a means through which United Community may attract and retain employees and non-employee directors, to provide incentives that align their interest with those of United Community’s shareholders and promote the success of United Community’s business. All employees and non-employee directors are eligible to participate in the 2015 Plan. The 2015 Plan provides for the issuance of up to 1,200,000 shares that are to be used for awards of stock options, stock awards, stock units, stock appreciation rights, annual bonus awards and long-term incentive awards. On April 26, 2007, shareholders approved the United Community Financial Corp. 2007 Long-Term Incentive Plan (as amended, the 2007 Plan). The purpose of the 2007 Plan was to promote and advance the interests of United Community and its shareholders by enabling United Community to attract, retain and reward directors, directors emeritus, managerial and other key employees of United Community, including Home Savings, by facilitating their purchase of an ownership interest in United Community. The 2007 Plan was terminated on April 30, 2015 upon the adoption of the 2015 Plan, although the 2007 Plan survives with respect to awards issued under the 2007 Plan that 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. Because the 2007 Plan terminated, no additional awards may be made under it. 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 with respect to options issued under the 1999 Plan remain outstanding and exercisable. The 1999 Plan provided for the grant of either incentive or nonqualified stock options. Options were awarded at exercise prices that were not less than the fair market value of the share at the grant date. The maximum number of common shares that could be issued under the 1999 Plan was 3,569,766. Because the 1999 Plan terminated, no additional options may be issued under it. There were no stock options granted in the three and nine months ended September 30, 2017 and 2016. Any options granted must be exercised within 10 years from the date of grant. Expenses related to prior stock option grants are included with salaries and employee benefits. The Company recognized $0 and $1,000 in stock option expense for the three and nine months ended September 30, 2017, respectively. The Company recognized $2,000 and $8,000 in stock option expense for the three and nine months ended September 30, 2016, respectively. The Company does not expect to recognize any stock option expense for the remainder of 2017. A summary of option activity in the plans is as follows: For the nine months ended September 30, 2017 Weighted Aggregate average intrinsic value Shares exercise price (in thousands) Outstanding at beginning of year 371,218 $ 2.55 Granted — — Exercised (80,085 ) 2.69 Forfeited and expired (600 ) 2.10 Outstanding at end of period 290,533 2.51 $ 2,061 Shares subject to options exercisable at end of period 290,533 2.51 $ 2,061 Information related to stock options for the nine months ended September 30, 2017 and 2016 follows: September 30, 2017 September 30, 2016 Intrinsic value of options exercised $ 487,000 $ 631,000 Cash received from option exercises 216,000 462,000 Tax benefit realized from option exercises 170,523 — Weighted average fair value of options granted, per share $ — $ — As of September 30, 2017, there were no unvested stock options remaining. Outstanding stock options at September 30, 2017 have a weighted average remaining life of 2.79 years and may be exercised in the range of $1.20 to $5.89 per share. Restricted Stock Awards: The 2007 Plan permitted and the 2015 Plan permits the issuance of restricted stock awards to employees and nonemployee directors. Nonvested shares at September 30, 2017 aggregated 275,438, of which 7,709 are expected to vest during the remainder of 2017, 129,044 in 2018, 106,012 in 2019 and 32,673 in 2020. Expense related to restricted stock awards is charged to salaries and employee benefits and is recognized over the vesting period of the awards based on the fair value of the shares at the grant date. The Company recognized approximately $240,000 and $696,000 in restricted stock award expenses for the three and nine months ended September 30, 2017. The Company recognized approximately $254,000 and $716,000 in restricted stock award expense for the three and nine months ended September 30, 2016. The Company expects to recognize additional expenses of approximately $203,000 in 2017, $581,000 in 2018, $259,000 in 2019 and $60,000 in 2020. The total average per share fair value of shares vested during the nine months ended September 30, 2017 was $8.52. A summary of changes in the Company’s nonvested restricted shares for the nine months ended September 30, 2017 is as follows: For the nine months ended September 30, 2017 Weighted average grant date Shares fair value Nonvested at beginning of year 341,184 $ 5.50 Granted 75,875 $ 8.60 Vested (141,621 ) $ 4.98 Forfeited — $ — Nonvested shares at end of period 275,438 $ 6.63 Annual Incentive Plan The Annual Incentive Plan (AIP) provides incentive compensation awards to certain officers of the Company. Annual incentive awards are generally based upon the actual performance of the Company and individual participant performance for the twelve months ending December 31, compared to the actual performance of a peer group during the same twelve-month period. The target incentive awards for each year are measured as a percentage of the base salary of participating officers. Once the awards under the AIP are calculated, they are paid in cash and/or restricted stock. The restricted stock vests equally over three years, beginning on the first anniversary of the date the restricted stock is issued. The Company incurred $100,000 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 $146,000 |
BUSINESS COMBINATION
BUSINESS COMBINATION | 9 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATION | 4. BUSINESS COMBINATION On January 31, 2017, United Community completed its acquisition of OLCB pursuant to the terms and conditions of the Agreement and Plan of Merger, dated as of September 8, 2016 by and among United Community, the Bank, OLCB and Premier Bank & Trust (Merger Agreement). 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 acquisiton and in accordance with the terms of the Merger Agreement, each preferred share 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 were exchanged for the cash consideration. The Company issued cash in lieu of issuing fractional shares. After the allocation procedures were applied, the Company issued 3,033,604 United Community common shares and paid $20.4 million to OLCB shareholders as a result of the acquisition. Acquisition related costs aggregating $5.0 million were included in United Community’s Consolidated Statements of Operations for the nine months ended September 30, 2017. 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 $ 20,379 United Community shares issued 25,816 Total fair value of consideration paid $ 46,195 At the acquisition date, United Community added the following to the Company’s consolidated statements of financial position: (In thousands) Cash $ 46,159 Loans 259,373 Available for sale securities 9,996 FHLB stock, at cost 1,256 Premises and equipment 2,940 Accrued interest 679 Other intangible assets 2,426 Other real estate owned 89 Other assets 7,988 Total assets acquired $ 330,906 Deposits assumed $ 266,279 Federal Home Loan Bank advances 23,500 Repurchase agreements and other borrowings 10,771 Accrued expenses and other liabilities 2,581 Total liabilities assumed $ 303,131 Goodwill created $ 18,420 The fair value of net assets acquired included fair value adjustments to certain receivables that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. However, the Company believes that all contractual cash flows related to these financial instruments will be collected. As such, these receivables were not considered impaired at the acquisition date and were not subject to the guidance relating to purchased credit impaired loans, which have shown evidence of credit deterioration since origination. The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected with a fair value and gross contractual amounts receivable of $2.5 million and $2.6 million, respectively, on the date of acquisition. Upon adoption of ASU 2016-16, Business Combinations (Topic 805) The following table presents proforma information as if the OLCB acquisition had occurred at the beginning of 2016. The proforma information includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the transaction, depreciation expense on property acquired, interest expense on deposits acquired, and the related income tax effects. The proforma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed dates. Net income includes the recognition of $4.1 million in acquisition related expenses incurred by United Community and $368,000 in acquisition related expenses for OLCB during the nine months ended September 30, 2017. The impact of the acquired insurance agencies is considered immaterial and not included in the table below. For the Nine Months Ended September 30, 2017 2016 (In thousands, except per share data) Net interest income $ 61,185 $ 55,595 Net income 16,928 16,118 Basic earnings per share $ 0.34 $ 0.32 Diluted earnings per share $ 0.34 $ 0.32 Goodwill is recorded arising from the acquisition, which 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. At the time of the closing, Home Savings’ charter changed to a state chartered commercial bank and United Community became a financial holding company. The acquisition benefits the Company and its shareholders by enabling the Company to further expand into the markets currently served by OLCB and strengthening the competitive position of the combined organization. Furthermore, the Company believes its increased asset size after the acquisition will create additional economies of scale and provide opportunities for asset and earnings growth in an extremely competitive banking environment. OLCB results of operations were included in the Company’s results beginning January 31, 2017. The fair value of $2.2 million of intangible assets related to core deposits is subject to change pending receipt of the final valuation. On February 28, 2017, HSB Insurance, LLC completed the purchase of an insurance agency engaged in the business of selling insurance including auto, commercial, homeowners and life-health insurance. Under the purchase agreement, the Company paid $535,000, of which $107,000 was paid in cash at closing and the remaining $428,000 will be paid in four equal installments in connection with this acquisition. Total assets purchased were $722,000, which includes the customer list intangible and goodwill. On July 1, 2017, HSB Insurance, LLC completed the purchase of an insurance agency engaged in the business of selling insurance including auto, commercial, homeowners and life-health insurance. Under the purchase agreement, the Company paid $60,000, of which $23,000 was paid in cash at closing and the remaining $37,000 will be paid in two equal installments in connection with this acquisition. Total assets purchased were $81,000, which includes the customer list intangible and goodwill |
SECURITIES
SECURITIES | 9 Months Ended |
Sep. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES | 5. SECURITIES Components of the available for sale portfolio are as follows: September 30, 2017 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and government sponsored entities' securities $ 125,153 $ 237 $ (330 ) $ 125,060 States of the U.S. and political subdivisions 58,959 699 (466 ) 59,192 Mortgage-backed GSE securities: residential 90,888 106 (424 ) 90,570 Total $ 275,000 $ 1,042 $ (1,220 ) $ 274,822 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 Components of held to maturity securities portfolio are as follows: September 30, 2017 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed GSE securities: residential $ 76,314 $ — $ (615 ) $ 75,699 States of the U.S. and political subdivisions 9,235 94 (4 ) 9,325 Total $ 85,549 $ 94 $ (619 ) $ 85,024 December 31, 2016 Gross Gross Amortized unrecognized unrecognized 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 Debt securities available for sale by contractual maturity, repricing or expected call date are shown below: September 30, 2017 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ — $ — Due after one year through five years 14,556 14,570 Due after five years through ten years 111,011 110,912 Due after ten years 58,545 58,770 Mortgage-backed GSE securities: residential 90,888 90,570 Total $ 275,000 $ 274,822 Debt securities held to maturity by contractual maturity, repricing or expected call date are shown below: September 30, 2017 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 7,285 7,357 Due after ten years 1,950 1,968 Mortgage-backed GSE securities: residential 76,314 75,699 Total $ 85,549 $ 85,024 Securities pledged for public funds were approximately $133.3 million at September 30, 2017 and approximately $146.5 million at December 31, 2016. Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at September 30, 2017 are as follows: September 30, 2017 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ 59,316 $ (330 ) $ — $ — $ 59,316 $ (330 ) States of the U.S. and political subdivisions 21,789 (283 ) 6,350 (183 ) 28,139 (466 ) Mortgage-backed GSE securities: residential 68,648 (424 ) — — 68,648 (424 ) Total temporarily impaired securities $ 149,753 $ (1,037 ) $ 6,350 $ (183 ) $ 156,103 $ (1,220 ) Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at December 31, 2016 are as follows: 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: 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 available for sale that were temporarily impaired at September 30, 2017 and December 31, 2016, were impaired due to the level of interest rates at the time of purchase compared to current interest rates. Unrealized losses on these securities have not been recognized into income during the nine months ended September 30, 2017 or 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. There is risk that longer term rates could rise further resulting in greater unrealized losses. The Company expects to realize all interest and principal on these securities and has no intent to sell, and more than likely will not be required to sell, these securities before their anticipated recovery. All of the obligations of U.S. states and political subdivisions held for sale that were temporarily impaired at September 30, 2017 and December 31, 2016, were impaired due to the level of interest rates at the time of purchase compared to current interest rates. Unrealized losses on these securities have not been recognized into income for the nine months ended September 30, 2017 or 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, and has no intent 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 unrecognized loss position for less than twelve months or twelve months or more are as follows: September 30, 2017 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 $ 48,309 $ (668 ) $ 27,390 $ (1,027 ) $ 75,699 $ (1,695 ) States of the U.S. and political subdivisions 1,543 (4 ) — — 1,543 (4 ) Total temporarily impaired securities $ 49,852 $ (672 ) $ 27,390 $ (1,027 ) $ 77,242 $ (1,699 ) 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 ) During the third quarter of 2015, Home Savings transferred securities with a total amortized cost of $105.3 million with a corresponding fair value of $103.8 million from available for sale to held to maturity. The net unrealizable loss, net of taxes, on these securities at the date of transfer was $999,000. The fair value at the date of transfer becomes the securities’ new cost basis. The unrealized holding loss at the time of transfer continues to be reported in accumulated other comprehensive income, net of tax and is amortized over the remaining lives of the securities as an adjustment of the yield. The amortization of the unamortized holding loss reported in accumulated other comprehensive income will directly offset the effect on interest income from the accretion of the reduced amortized cost for the transferred securities. Because of this transfer, the total losses less than 12 months and greater than 12 months reported in the table above will not agree to the unrealized losses reported in the inventory of held to maturity securities. The inventory table reports unrealized gains and losses based upon the transferred securities adjusted cost basis and current fair value. The reporting of losses less than 12 months and greater than 12 months represents that actual period of time that these securities have been in an unrealized loss position and the securities amortized cost basis as if the transfer did not occur. All of the mortgage-backed securities held to maturity that were temporarily impaired at September 30, 2017 and December 31, 2016, were impaired due to the level of interest rates at the time of purchase compared to current interest rates. Unrealized losses on these securities have not been recognized into income for the nine months ended September 30, 2017 or 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. There is risk that longer term rates could rise further resulting in greater unrealized losses. The Company expects to realize all interest and principal on these securities and has no intent to sell and more than likely will not be required to sell these securities before their anticipated recovery. All of the obligations of U.S. states and political subdivisions held to maturity that were temporarily impaired at September 30, 2017, and December 31, 2016, were impaired due to the level of interest rates at the time of purchase compared to current interest rates. Unrealized losses on these securities have not been recognized into income for the nine months ended September 30, 2017 or 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 and has no intent to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. Proceeds from the sale of available for sale securities were $9.7 million and $5.2 million, for the three months ended September 30, 2017 and 2016, respectively. Gross gains of $236,000 and $218,000 were realized on these sales during the three months ended September 30, 2017 and 2016, respectively. No gross losses were realized on these sales during the three months ended September 30, 2017 or 2016. Income tax expense related to net realized gains and losses was $83,000 and $76,000 for the three months ended September 30, 2017 and 2016, respectively. Proceeds from the sale of available for sale securities were $62.9 million and $33.7 million, for the nine months ended September 30, 2017 and 2016, respectively. Gross gains of $610,000 and $609,000 were realized on these sales during the nine months ended September 30, 2017 and 2016, respectively. Gross losses of $44,000 and $0 were realized on these sales during the nine months ended September 30, 2017 and 2016, respectively. Income tax expense related to net realized gains and losses was $198,000 and $211,000 for the nine months ended September 30, 2017 and 2016, respectively. |
LOANS
LOANS | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
LOANS | 6. LOANS Portfolio loans consist of the following: September 30, December 31, 2017 2016 (Dollars in thousands) Commercial loans Multifamily $ 126,977 $ 93,597 Nonresidential 366,747 231,401 Land 13,666 8,373 Construction 108,105 68,158 Secured 167,433 95,343 Unsecured 8,148 7,386 Total commercial loans 791,076 504,258 Residential mortgage loans One-to four-family 851,863 762,926 Construction 57,081 35,695 Total residential mortgage loans 908,944 798,621 Consumer loans Home equity 193,402 165,054 Auto 56,883 39,609 Marine 1,564 1,796 Recreational vehicle 6,249 7,602 Other 5,594 2,537 Total consumer loans 263,692 216,598 Total loans 1,963,712 1,519,477 Less: Allowance for loan losses 20,555 19,087 Deferred loan costs, net (4,538 ) (3,187 ) Total 16,017 15,900 Loans, net $ 1,947,695 $ 1,503,577 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and are based on impairment method as of September 30, 2017 and December 31, 2016 and activity for the three and nine months ended September 30, 2017 and 2016. Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended September 30, 2017 Beginning balance $ 10,821 $ 5,968 $ 2,871 $ 19,660 Provision (recovery) 512 369 (160 ) 721 Charge-offs (12 ) (427 ) (147 ) (586 ) Recoveries 361 136 263 760 Ending balance $ 11,682 $ 6,046 $ 2,827 $ 20,555 For the nine months ended September 30, 2017 Beginning balance $ 10,824 $ 5,538 $ 2,725 $ 19,087 Provision 1,537 1,234 267 3,038 Charge-offs (1,335 ) (930 ) (626 ) (2,891 ) Recoveries 656 204 461 1,321 Ending balance $ 11,682 $ 6,046 $ 2,827 $ 20,555 As of September 30, 2017 Period-end amount allocated to: Loans individually evaluated for impairment $ 16 $ 1,169 $ 411 1,596 Loans collectively evaluated for impairment 11,612 4,877 2,416 18,905 Loans acquired with deteriorated credit quality 54 — — 54 Ending balance $ 11,682 $ 6,046 $ 2,827 $ 20,555 Period-end balances: Loans individually evaluated for impairment 2,322 16,718 7,314 26,354 Loans collectively evaluated for impairment 787,550 892,226 256,378 1,936,154 Loans acquired with deteriorated credit quality 1,204 — — 1,204 Ending balance $ 791,076 $ 908,944 $ 263,692 $ 1,963,712 Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total For the three months ended September 30, 2016 Beginning balance $ 8,958 $ 5,644 $ 2,570 $ 17,172 Provision 842 268 234 1,344 Charge-offs (533 ) (166 ) (222 ) (921 ) Recoveries 527 20 92 639 Ending balance $ 9,794 $ 5,766 $ 2,674 $ 18,234 For the nine months ended September 30, 2016 Beginning balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 Provision (recovery) 4,055 (359 ) 198 3,894 Charge-offs (3,026 ) (612 ) (977 ) (4,615 ) Recoveries 688 107 448 1,243 Ending balance $ 9,794 $ 5,766 $ 2,674 $ 18,234 As of December 31, 2016 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 The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required based on an analysis using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations, estimated collateral values, general economic conditions in the market area and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged-off. Other loans not reviewed specifically by management are evaluated as a homogenous group of loans (generally single-family residential mortgage loans and all consumer credits except marine loans) using a loss factor applied to the outstanding loan balance to determine the level of reserve required. This loss factor consists of two components, a quantitative and a qualitative component. The quantitative component is based on a historical analysis of all charged-off loans, net of recoveries. In determining the qualitative factors, consideration is given to such attributes as lending policies, economic conditions, nature and volume of the portfolio, management, loan quality trend, loan review, collateral value, concentrations, economic cycles and other external factors. As of September 30, 2017, the Company evaluated 21 quarters of net charge-off history and applied this information to the current period. This component is combined with the qualitative component to arrive at the loss factor, which is applied to the outstanding balance of homogenous loans. The following table presents loans individually evaluated for impairment by class of loans as of and for nine months ended September 30, 2017: 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 $ 466 $ 402 $ — $ 309 $ 3 $ 3 Nonresidential 673 153 — 818 6 6 Land 715 9 — 15 — — Construction 2,467 — — — — — Secured 263 210 — 195 1 1 Unsecured 194 — — — — — Total commercial loans 4,778 774 — 1,337 10 10 Residential mortgage loans One-to four-family 6,793 5,814 — 6,025 81 73 Construction — — — — — — Total residential mortgage loans 6,793 5,814 — 6,025 81 73 Consumer loans Home equity 1,556 1,177 — 1,477 11 11 Auto 8 1 — 9 — — Marine 540 169 — 200 — — Recreational vehicle 809 389 — 220 12 12 Other 1 1 — — — — Total consumer loans 2,914 1,737 — 1,906 23 23 Total $ 14,485 $ 8,325 $ — $ 9,268 $ 114 $ 106 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential 1,582 1,548 16 2,010 86 85 Land — — — — — — Construction — — — — — — Secured — — — 43 — — Unsecured — — — — — — Total commercial loans 1,582 1,548 16 2,053 86 85 Residential mortgage loans One-to four-family 11,042 10,904 1,169 10,799 385 343 Construction — — — — — — Total residential mortgage loans 11,042 10,904 1,169 10,799 385 343 Consumer loans Home equity 5,132 5,055 387 5,173 214 199 Auto — — — — — — Marine 102 102 1 105 4 4 Recreational vehicle 432 420 23 616 14 14 Other — — — — — — Total consumer loans 5,666 5,577 411 5,894 232 217 Total 18,290 18,029 1,596 18,746 703 645 Total impaired loans $ 32,775 $ 26,354 $ 1,596 $ 28,014 $ 817 $ 751 The following table presents loans individually evaluated for impairment by class of loans as of and for nine months ended September 30, 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 $ 59 $ — $ — $ — $ — $ — Nonresidential 952 149 — 248 4 4 Land 3,922 134 — 322 — — Construction 3,594 — — — — — Secured 3,743 3,700 — 3,700 — — Unsecured 821 — — — 7 7 Total commercial loans 13,091 3,983 — 4,270 11 11 Residential mortgage loans One-to four-family 7,401 5,727 — 6,049 55 49 Construction — — — — — — Total residential mortgage loans 7,401 5,727 — 6,049 55 49 Consumer loans Home equity 1,728 1,272 — 1,415 14 14 Auto 13 8 — 10 — — Marine 543 301 — 294 — — Recreational vehicle 637 322 — 241 4 4 Other — — — 3 — — Total consumer loans 2,921 1,903 — 1,963 18 18 Total $ 23,413 $ 11,613 $ — $ 12,282 $ 84 $ 78 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential 11,660 9,164 935 7,911 208 206 Land — — — — — — Construction — — — — — — Secured 616 550 81 692 — — Unsecured — — — — — — Total commercial loans 12,276 9,714 1,016 8,603 208 206 Residential mortgage loans One-to four-family 12,123 12,121 1,342 12,587 423 373 Construction — — — — — — Total residential mortgage loans 12,123 12,121 1,342 12,587 423 373 Consumer loans Home equity 5,997 5,997 435 6,592 257 238 Auto — — — — — — Marine 153 153 4 158 6 4 Recreational vehicle 655 655 77 815 20 19 Other — — — 2 — — Total consumer loans 6,805 6,805 516 7,567 283 261 Total 31,204 28,640 2,874 28,757 914 840 Total impaired loans $ 54,617 $ 40,253 $ 2,874 $ 41,039 $ 998 $ 918 The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2016: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no specific allowance recorded Commercial loans Multifamily $ 55 $ — $ — Nonresidential 2,278 1,489 — Land 3,922 34 — Construction 3,594 — — Secured 242 190 — Unsecured 713 — — Total commercial loans 10,804 1,713 — Residential mortgage loans One-to four-family 8,736 6,758 — Construction — — — Total residential mortgage loans 8,736 6,758 — Consumer loans Home equity 2,159 1,583 — Auto 11 3 — Marine 585 267 — Recreational vehicle 433 120 — Other — — — Total consumer loans 3,188 1,973 — Total $ 22,728 $ 10,444 $ — With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 6,930 4,133 1,193 Land — — — Construction — — — Secured 237 172 78 Unsecured — — — Total commercial loans 7,167 4,305 1,271 Residential mortgage loans One-to four-family 10,810 10,727 1,245 Construction — — — Total residential mortgage loans 10,810 10,727 1,245 Consumer loans Home equity 5,390 5,335 426 Auto — — — Marine 108 108 1 Recreational vehicle 639 629 73 Other — — — Total consumer loans 6,137 6,072 500 Total 24,114 21,104 3,016 Total impaired loans $ 46,842 $ 31,548 $ 3,016 The unpaid principal balance is the total amount of the loan that is due to Home Savings. The recorded investment includes the unpaid principal balance less any charge-offs or partial charge-offs 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 following table presents loans individually evaluated for impairment by class of loans as of and for the three months ended September 30, 2017: Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 408 $ — $ — Nonresidential 809 3 3 Land 9 — — Construction — — — Secured 200 1 1 Unsecured — — — Total commercial loans 1,426 4 4 Residential mortgage loans One-to four-family 5,788 35 33 Construction — — — Total residential mortgage loans 5,788 35 33 Consumer loans Home equity 1,356 4 4 Auto 10 — — Marine 169 — — Recreational vehicle 271 3 3 Other 1 — — Total consumer loans 1,807 7 7 Total $ 9,021 $ 46 $ 44 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 1,002 26 26 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1,002 26 26 Residential mortgage loans One-to four-family 10,666 112 112 Construction — — — Total residential mortgage loans 10,666 112 112 Consumer loans Home equity 4,987 65 65 Auto — — — Marine 103 1 1 Recreational vehicle 556 5 5 Other — — — Total consumer loans 5,646 71 71 Total 17,314 209 209 Total impaired loans $ 26,335 $ 255 $ 253 The following table presents loans individually evaluated for impairment by class of loans as of and for the three months ended September 30, 2016: Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 238 1 1 Land 259 — Construction — — — Secured 3,700 — — Unsecured — — — Total commercial loans 4,197 1 1 Residential mortgage loans One-to four-family 6,125 19 19 Construction — — — Total residential mortgage loans 6,125 19 19 Consumer loans Home equity 1,306 9 9 Auto 9 — — Marine 302 — — Recreational vehicle 298 1 1 Other 2 — — Total consumer loans 1,917 10 10 Total $ 12,239 $ 30 $ 30 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 8,868 84 84 Land — — — Construction — — — Secured 742 — — Unsecured — — — Total commercial loans 9,610 84 84 Residential mortgage loans One-to four-family 12,077 132 127 Construction — — — Total residential mortgage loans 12,077 132 127 Consumer loans Home equity 6,138 77 76 Auto — — — Marine 155 2 2 Recreational vehicle 724 6 6 Other — — — Total consumer loans 7,017 85 84 Total 28,704 301 295 Total impaired loans $ 40,943 $ 331 $ 325 Home Savings reclassifies a collateralized mortgage loan and a consumer loan 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 September 30, 2017 and December 31, 2016, but legal title, deed in lieu of foreclosure or similar legal agreement to the property has not yet been obtained: September 30, 2017 December 31, 2016 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment (Dollars in thousands) (Dollars in thousands) Mortgage loans in process of foreclosure $ 2,975 $ 2,805 $ 3,025 $ 2,576 Consumer loans in process of foreclosure 955 798 1,069 795 The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans as of September 30, 2017: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of September 30, 2017 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ 402 $ — Nonresidential 1,234 — Land 9 — Construction — — Secured 234 — Unsecured — — Total commercial loans 1,879 — Residential mortgage loans One-to four-family 6,627 — Construction — — Total residential mortgage loans 6,627 — Consumer Loans Home equity 1,714 — Auto 38 — Marine 169 — Recreational vehicle 409 6 Other 2 2 Total consumer loans 2,332 8 Total nonaccrual loans and loans past due over 90 days and still accruing $ 10,838 $ 8 The following table presents the recorded investment in nonaccrual loans 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 table presents an age analysis of past-due loans, segregated by class of loans as of September 30, 2017: 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 $ — $ 402 $ 402 $ 126,575 $ 126,977 Nonresidential 206 1,204 7 1,417 365,330 366,747 Land — — 9 9 13,657 13,666 Construction — — — — 108,105 108,105 Secured 157 16 212 385 167,048 167,433 Unsecured — — — — 8,148 8,148 Total commercial loans 363 1,220 630 2,213 788,863 791,076 Residential mortgage loans One-to four-family 3,588 1,305 5,066 9,959 841,904 851,863 Construction — — — — 57,081 57,081 Total residential mortgage loans 3,588 1,305 5,066 9,959 898,985 908,944 Consumer Loans: Home equity 1,026 192 1,467 2,685 190,717 193,402 Automobile 137 76 17 230 56,653 56,883 Marine 13 — 169 182 1,382 1,564 Recreational vehicle 357 164 298 819 5,430 6,249 Other 2 13 3 18 5,576 5,594 Total consumer loans 1,535 445 1,954 3,934 259,758 263,692 Total loans $ 5,486 $ 2,970 $ 7,650 $ 16,106 $ 1,947,606 $ 1,963,712 The following table presents 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 As of September 30, 2017 and December 31, 2016, the Company has a recorded investment in troubled debt restructurings of $21.3 million and $26.6 million, respectively. The Company allocated $1.6 million of specific allowance for those loans at September 30, 2017 and $3.0 million at December 31, 2016. The Company has committed to lend additional amounts totaling up to $37,000 and $31,000 at September 30, 2017 and December 31, 2016, respectively. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended September 30, 2017: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 1 147 169 Construction — — — Total residential mortgage loans 1 147 169 Consumer loans Home equity — — — Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans — — — Total restructured loans 1 $ 147 $ 169 The troubled debt restructurings described above had no effect on the allowance for loan losses and resulted in no charge-offs during the three months ended September 30, 2017. The following table presents loans by class modified as troubled debt restructurings that occurred during the nine months ended September 30, 2017: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 2 222 253 Construction — — — Total residential mortgage loans 2 222 253 Consumer loans Home equity — — — Auto — — — Marine — — — Recreational vehicle 1 115 115 Other — — — Total consumer loans 1 115 115 Total restructured loans 3 $ 337 $ 368 The troubled debt restructurings described above increased the allowance for loan losses by $6,000 and resulted in no charge-offs during the nine months ended September 30, 2017. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended September 30, 2016: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 1,371 1,377 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 1,371 1,377 Residential mortgage loans One-to four-family 1 113 114 Construction — — — Total residential mortgage loans 1 113 114 Consumer loans Home equity — — — Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans — — — Total restructured loans 2 $ 1,484 $ 1,491 The troubled debt restructurings described above increased the allowance for loan losses by $20,000, and resulted in no charge-offs during the three months ended September 30, 2016. The following table presents loans by class modified as troubled debt restructurings that occurred during the nine months ended September 30, 2016: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 3 5,459 5,465 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 3 5,459 5,465 Residential mortgage loans One-to four-family 4 429 449 Construction — — — Total residential mortgage loans 4 429 449 Consumer loans Home equity 3 130 134 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 3 130 134 Total restructured loans 10 $ 6,018 $ 6,048 The troubled debt restructurings described above increased the allowance for loan losses by $31,000 and resulted in no charge-offs during the nine months ended September 30, 2017. The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve-month cycle following the modification during the period ended September 30, 2017. Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 1 162 Construction — — Total residential mortgage loans 1 162 Consumer loans Home equity 1 47 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 1 47 Total restructured loans 2 $ 209 The troubled debt restructurings that subsequently defaulted described above resulted in no charge-offs during the three and nine months ended September 30, 2017, and had no effect on the provision for loan losses. The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve month cycle following the modification during the period ended September 30, 2016: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 1 4 Construction — — Total residential mortgage loans 1 4 Consumer loans Home equity — — Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans — — Total restructured loans 1 $ 4 The troubled debt restructurings that subsequently defaulted described above resulted in no of charge-offs during the three and nine months ended September 30, 2016, and had no effect on the provision for loan losses. A troubled debt restructuring is considered to be in payment default once it is 30 days contractually past due under the modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed in accordance with the Company’s internal underwriting policy. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as: current financial information, historical payment experience, credit documentation, public information and current economic trends. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes homogeneous loans past due 90 cumulative days, and all non-homogeneous loans, including commercial loans and commercial real estate loans. Smaller balance homogeneous loans are primarily monitored by payment status. Asset quality ratings are divided into two groups: Pass (unclassified) and Classified. Within the unclassified group, certain loans that display potential weakness are risk rated as special mention. In addition, there are three classified risk ratings: substandard, doubtful and loss. These specific credit risk categories are defined as follows: Special Mention. Loans classified as special mention have potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loss. Loans classified as loss are considered uncollectible and of such little value, that continuance as assets is not warranted. Although there may be a chance of recovery on these assets, it is not practical or desirable to defer writing off the asset. The Company monitors loans on a monthly basis to determine if they should be included in one of the categories listed above. All impaired non-homogeneous credits classified as substandard, doubtful or loss are analyzed on an individual basis for a specific reserve requirement. This analysis is performed on each individual credit at least annually or more frequently if warranted. As of September 30, 2017 and December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Loans September 30, 2017 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 124,441 $ 1,975 $ 561 $ — $ — $ 561 $ 126,977 Nonresidential 355,846 3,171 7,730 — — 7,730 366,747 Land 13,657 — 9 — — 9 13,666 Construction 107,702 403 — — — — 108,105 Secured 137,977 1,421 28,035 — — 28,035 167,433 Unsecured 8,054 — 94 — — 94 8,148 Total commercial loans 747,677 6,970 36,429 — — 36,429 791,076 Residential mortgage loans One-to four-family 842,928 769 8,166 — — 8,166 851,863 Construction 57,081 — — — — — 57,081 Total residential mortgage loans 900,009 769 8,166 — — 8,166 908,944 Consumer Loans Home equity 191,689 — 1,713 — — 1,713 193,402 Auto 56,845 — 38 — — 38 56,883 Marine 1,395 — 169 — — 169 1,564 Recreational vehicle 5,840 — 409 — — 409 6,249 Other 5,592 — 2 — — 2 5,594 Total consumer loans 261,361 — 2,331 — — 2,331 263,692 Total loans $ 1,909,047 $ 7,739 $ 46,926 $ — $ — $ 46,926 $ 1,963,712 Loans 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 Purchased Credit Impaired Loans: The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans is as follows: September 30, 2017 (Dollars in thousands) Commercial loans $ 1,204 Residential mortgage loans — Consumer loans — Outstanding balance $ 1,204 Carrying amount, net of allowance of $54,000 $ 1,150 Accretable yield, or income expected to be collected, is as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 (Dollars in thousands) Beginning of period $ 116 $ — New loans purchased — 158 Accretion of income 12 54 Balance at September 30 $ 104 $ 104 For the purchased credit impaired loans disclosed above, there was an increase of $54,000 in the allowance for loan losses for the three and nine months ended September 30, 2017. Purchased credit impaired loans acquired during the nine months ended September 30, 2017 for which it was probable at acquisition that all contractually required payments would not be collected are as follows: September 30, 2017 (Dollars in thousands) Contractually required payments receivable of loans purchased during the year: Commercial loans $ 4,499 Residential mortgage loans — Consumer loans — $ 4,499 Cash flow expected to be collected at acquisition $ 1,955 Fair value of acquired loans at acquisition 1,797 Income is not recognized on purchased credit impaired loans if the Company cannot reasonably estimate cash flows expected to be collected. The carrying amounts of such loans are as follows: September 30, 2017 (Dollars in thousands) Loans at beginning of year $ — Loans purchased during the year 1,797 Loans at end of period 1,204 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 9 Months Ended |
Sep. 30, 2017 | |
Mortgage Banking [Abstract] | |
MORTGAGE BANKING ACTIVITIES | 7. MORTGAGE BANKING ACTIVITIES Mortgage loans serviced for others, which are not reported in United Community’s assets, totaled $1.2 billion as of September 30, 2017 and $1.2 billion as of December 31, 2016. Mortgage banking income is comprised of gains recognized on the sale of loans and changes in fair value of mortgage banking derivatives. The principal balances of mortgage loans serviced for others are as follows: September 30, 2017 December 31, 2016 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 979,546 $ 956,278 FNMA 235,246 208,114 Private investor 26,350 — During the second quarter of 2017, the Company sold $27.9 million of adjustable rate 1-4 family mortgages to a private investor in a bulk mortgage loan sale. The Company recognized 45 basis points of mortgage service release premium as part of the gain recognized on this sale. Customer escrow balances with loans serviced for FHLMC, FNMA and the private investor totaled $9.2 million and $14.3 million at September 30, 2017 and December 31, 2016, respectively. Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Balance, beginning of period $ 6,161 $ 5,813 $ 6,070 $ 5,686 Originations 793 708 1,819 1,870 Amortized to expense (491 ) (525 ) (1,426 ) (1,560 ) Balance, end of period 6,463 5,996 6,463 5,996 Less valuation allowance (15 ) (741 ) (15 ) (741 ) Net balance $ 6,448 $ 5,255 $ 6,448 $ 5,255 Activity in the valuation allowance for mortgage servicing rights was as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Balance, beginning of period $ (5 ) $ (766 ) $ — $ (39 ) Impairment charges (10 ) — (15 ) (727 ) Recoveries — 25 — 25 Balance, end of period $ (15 ) $ (741 ) $ (15 ) $ (741 ) The fair value of mortgage servicing rights as of September 30, 2017, was approximately $10.5 million and at December 31, 2016, the fair value was approximately $10.2 million. Key economic assumptions in measuring the value of mortgage servicing rights at September 30, 2017, and December 31, 2016, were as follows: September 30, 2017 December 31, 2016 Weighted average prepayment rate 187 PSA 165 PSA Weighted average life (in years) 6.22 6.64 Weighted average discount rate 9.00% 9.00% |
OTHER REAL ESTATE OWNED AND OTH
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS | 9 Months Ended |
Sep. 30, 2017 | |
Real Estate [Abstract] | |
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS | 8. OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS Real estate owned and other repossessed assets at September 30, 2017 and December 31, 2016 were as follows: September 30, 2017 December 31, 2016 (Dollars in thousands) Real estate owned and other repossessed assets $ 1,566 $ 2,789 Valuation allowance (423 ) (1,012 ) End of period $ 1,143 $ 1,777 Activity in the valuation allowance was as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 (Dollars in thousands) Beginning of period $ 389 $ 1,001 $ 1,012 $ 1,229 Amounts charged to (recovery of) expense 53 1 15 (25 ) Reductions due to sales (19 ) 1 (604 ) (201 ) End of period $ 423 $ 1,003 $ 423 $ 1,003 Expenses related to foreclosed and repossessed assets include: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 (Dollars in thousands) Net loss (gains) on sales $ 20 $ (1 ) $ 128 $ 101 Provision for unrealized (gains) losses , net 53 1 15 (25 ) Operating expenses, net of rental income 33 41 118 190 Total expenses $ 106 $ 41 $ 261 $ 266 |
FAIR VALUE MEASUREMENT
FAIR VALUE MEASUREMENT | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENT | 9. FAIR VALUE MEASUREMENT Fair value is the exchange price that would be received for an asset if paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own beliefs about the assumptions that market participants would use in pricing an asset or liability. United Community uses the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Available for sale securities : The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2), 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. In addition to the Special Assets Department review, a third party independent review is also performed. On an annual basis, Home Savings compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. At the time a property is acquired and classified as real estate owned, the fair value is determined utilizing the most appropriate method. A fair value in excess of $250,000 will be supported by an appraisal. After determination of fair value, each property will be recorded at the lower of cost (i.e., recorded investment in the loan) or the estimated net realizable value on the date of transfer to real estate owned. In determining net realizable value, reductions to fair market value may be taken for estimated costs of sale, conditions that must be remedied immediately upon acquisition, and other factors that negatively impact the marketability and prompt sale of the property. Mortgage servicing rights: On a quarterly basis, loan servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. Fair value is determined at a tranche level, based on market prices for comparable mortgage servicing contracts, when available, or alternatively based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data (Level 2). Loans held for sale: Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors (Level 2). Loans held for sale, at fair value : The Company elected the fair value option for all conventional residential one-to four-family loans held for sale originated after January 1, 2016 and all permanent construction loans held for sale originated on or 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 the Company’s permanent construction loans held for sale is determined using the current 60 day forward contract price for 30 year conventional loans 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 uses an independent third party that performs a market valuation analysis for interest rate caps. The methodology used consists of a discounted cash flow model, all future floating cash flows are projected and both floating and fixed cash flows are discounted to the valuation date. The yield curve utilized for discounting and projecting is built by obtaining publicly available third party market quotes from Reuters, which handle up to 30-year swap maturities (Level 3). Assumptions used in the valuation of interest rate caps are back-tested for reasonableness on a quarterly basis using an independent source along with a third party service. Purchased and written certificate of deposit option: Home Savings periodically enters into written and purchased option derivative instruments to facilitate the Power CD. The written and purchased options are mirror derivative instruments which are carried at fair value on the consolidated balance sheets. Home Savings uses an independent third party that performs a market valuation analysis for purchased and written certificate of deposit options. (Level 2). Assets and Liabilities Measured on a Recurring Basis: Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements at September 30, 2017 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable September 30, Assets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities U.S. Treasury and government sponsored entities' securities $ 125,060 $ — $ 125,060 $ — States of the U.S. and political subdivisions 59,192 — 59,192 Mortgage-backed GSE securities: residential 90,570 — 90,570 — Loans held for sale, at fair value 84,349 — 14,111 70,238 Purchased certificate of deposit option 823 — 823 — Liabilities Written certificate of deposit option 823 — 823 — Fair Value Measurements at December 31, 2016 Using: Quoted Prices in Active Significant 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 U.S. 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 — There were no transfers between Level 1 and Level 2 during 2017 or 2016. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2017 and 2016. Loans Held for Sale, At Fair Value Loans Held for Sale, At Fair Value For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 69,995 $ 33,605 $ 53,761 $ 26,716 Total gains (losses) for the period Included in change in fair value of loans held for sale 1,145 414 3,557 1,705 Included in other comprehensive income — — — — Originations/Draws on construction perm loans 28,864 25,464 80,109 60,925 Amortization — — — — Sales (29,766 ) (12,347 ) (67,189 ) (42,210 ) Balance of recurring Level 3 assets at end of period $ 70,238 $ 47,136 $ 70,238 $ 47,136 The following table presents quantitative information about recurring Level 3 fair value measurements at September 30, 2017: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 70,238 Comparable sales Time discount 0.00-1.80% The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2016: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 53,761 Comparable sales Time discount 0.00-1.80% The fair value of loans held for sale, at fair value was determined using pricing from a quoted market, discounted for the length of time to the completion of the construction project. Assets and Liabilities Measured on a Non-Recurring Basis: Assets and liabilities measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at September 30, 2017 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable September 30, Assets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Multifamily $ 443 $ — $ — $ 443 Residential loans One-to four-family residential 536 — — 536 Consumer loans Home Equity 92 — — 92 Marine 169 — — 169 Mortgage servicing rights 125 — 125 — Other real estate owned, net Commercial loans Construction loans 443 — — 443 Residential loans One-to four-family residential 136 — — 136 Fair Value Measurements at December 31, 2016 Using: Quoted Prices in Active Significant 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 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 $1.2 million at September 30, 2017, that includes a specific valuation allowance of $42,000. This resulted in an increase of the provision for loan losses of $92,000 and $571,000 during the three and nine months ended September 30, 2017, respectively. Impaired loans with specific allocations of the allowance for loan losses, carried at fair value, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a net carrying amount of $7.7 million at September 30, 2016, which includes a specific valuation allowance of $989,000. This resulted in an increase in the provision for loan losses of $134,000 and $3.7 million for the three and nine months ended September 30, 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 $4.0 million at December 31, 2016, that includes a specific valuation allowance of $1.3 million. The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral dependent impaired loans included in the above table primarily relate to the adjustment between carrying values versus appraised value. During the reported periods, discounts applied to appraisals for estimated selling costs were 10%. At September 30, 2017, mortgage servicing rights carried at fair value were $125,000, with a net valuation allowance of $15,000. At September 30, 2016, mortgage servicing rights, carried at fair value totaled $3.3 million, resulting in a net valuation allowance of $741,000. Mortgage servicing rights are valued by an independent third party that is active in purchasing and selling these instruments. Net impairment reflected in other income totaled $10,000 and $15,000 for the three and nine months ended September 30, 2017, respectively. Net (recovery) impairment reflected in other income totaled $(25,000) and $702,000 for the three and nine months ended September 30, 2016. The value reflects the characteristics of the underlying loans. At September 30, 2017, 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 $580,000, with a valuation allowance of $423,000. This resulted in expense of $53,000 and $15,000 during the three and nine months ended September 30, 2017. At September 30, 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 with a valuation allowance of $1.0 million. This resulted in an expense (recovery) of $1,000 and $(25,000) during the three and nine months ended September 30, 2016, respectively. At December 31, 2016, other real estate owned had a net carrying amount of $1.0 million, with a valuation allowance of $1.0 million. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at September 30, 2017: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Multi Family $ 443 Sales comparison approach Adjustment for differences between comparable sales 0.00%-35.00% (15.00%) Residential loans One-to four-family residential 536 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Consumer loans Home Equity 92 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Marine 169 Sales comparison approach Adjustment for differences between comparable sales 0.00%-37.00% (37.00%) Other real estate owned, net Commercial loans Construction loans 443 Sales comparison approach Adjustment for differences between comparable sales 0.00%-80.00% Residential loans One-to four-family residential 136 Sales comparison approach Adjustment for differences between comparable sales 0.00%-0.00% (0.00%) 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 (Weighted Average) 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: Commercial loans Construction loans 748 Sales comparison approach Adjustment for differences between comparable sales 0.00%-90.40% (27.46%) Cost approach Adjustment for differences in cost 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 Company has elected the fair value option for newly originated residential mortgage and permanent construction loans held for sale. These loans are intended for sale and the Company believes that fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 or more days past due nor on nonaccrual status as of September 30, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 (Dollars in thousands) Aggregate fair value $ 84,349 $ 62,593 Contractual balance 80,611 62,843 Gain (loss) 3,738 (250 ) The total amount of gains and losses from changes in fair value included in earnings for the three and nine months ended September 30, 2017 and 2016 for loans held for sale, at fair value were: For the Three Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 (Dollars in thousands) Interest income $ — $ — $ — $ — Interest expense — — — — Change in fair value 1,088 556 3,988 2,205 Total change in fair value $ 1,088 $ 556 $ 3,988 $ 2,205 In accordance with U.S. GAAP, the carrying value and estimated fair values of financial instruments at September 30, 2017 and December 31, 2016, were as follows: Fair Value Measurements at September 30, 2017 Using: September 30, 2017 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 38,010 $ 38,010 $ — $ — Available for sale securities 274,822 — 274,822 — Held to maturity securities 85,549 — 85,024 — Loans held for sale 196 — 203 — Loans held for sale, at fair value 84,349 — 14,111 70,238 Loans, net 1,947,695 — — 1,942,267 FHLB stock 19,324 n/a n/a n/a Accrued interest receivable 7,253 — 1,733 5,520 Purchased certificate of deposit option 823 — 823 — Liabilities: Deposits: Checking, savings and money market accounts (1,241,779 ) (1,241,779 ) — — Certificates of deposit (696,920 ) — (698,045 ) — FHLB advances (328,341 ) — (328,342 ) — Repurchase agreements and other (10,191 ) — (9,911 ) — Advance payments by borrowers for taxes and insurance (16,048 ) (16,048 ) — — Accrued interest payable (722 ) — (722 ) — Written certificate of deposit option (823 ) — (823 ) — 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 ) — The methods and assumptions, not previously presented, used to estimate fair values are described as follows: (a) Cash and Cash Equivalents The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. (b) FHLB Stock It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. (c) Held to maturity securities Fair values for held to maturity securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows. (d) Loans Fair values of loans, excluding loans held for sale, are estimated as follows: for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification; fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification; and impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. (e) Deposits The fair values disclosed for demand deposits (e.g., interest and non-interest checking, savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. The carrying amounts of variable rate, fixed-term money market accounts approximate their fair values at the reporting date resulting in a Level 1 classification. Fair values for fixed and variable rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates of deposit to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. (f) Other Borrowings Short-term borrowings, generally maturing within 90 days, approximate their fair values resulting in a Level 2 classification. The fair values of Home Savings long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. (g) Accrued Interest Receivable/Payable The carrying amounts of accrued interest approximate fair value resulting in a Level 2 or Level 3 classification, depending on the classification of the underlying asset or liability. (h) Off-balance Sheet Instruments Fair values for off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material. |
STATEMENT OF CASH FLOWS SUPPLEM
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE | 9 Months Ended |
Sep. 30, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE | 10. STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE Supplemental disclosures of cash flow information are summarized below. For the Nine Months Ended September 30, 2017 2016 (Dollars in thousands) Supplemental disclosures of cash flow information Cash paid during the period for: Interest on deposits and borrowings $ 8,611 $ 6,203 Income taxes 425 275 Supplemental schedule of noncash activities: Transfers from loans to real estate owned and other repossessed assets 651 813 Transfers from loans to loans held for sale 27,921 — Transfers from premises and equipment to other assets, held for sale 1,720 — Accretion of securities held to maturity 151 181 Issuance of common stock - James & Sons acquisition — 1,547 Issuance of common stock - Ohio Legacy Corp. acquisition 25,816 — Net assets acquired from Ohio Legacy Corp., excluding cash and cash equivalents 36 — |
EARNINGS PER SHARE
EARNINGS PER SHARE | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | 11. EARNINGS PER SHARE The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. As such, earnings per share is computed using the two-class method as required by ASC 206-10-45. Basic earnings per common share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period which excludes the participating securities. Diluted earnings per common share includes the dilutive effect of additional potential common shares from stock compensation awards, but also excludes awards considered participating securities. No stock options were anti-dilutive for the three and nine months ended September 30, 2017. No stock options were anti-dilutive for the three months and nine months ended September 30, 2016. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands, except per share data) Net income per consolidated statements of income $ 7,556 $ 5,153 $ 17,283 $ 13,803 Net income allocated to participating securities (42 ) (38 ) (108 ) (88 ) Net income allocated to common stock $ 7,514 $ 5,115 $ 17,175 $ 13,715 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 1,979 $ 1,385 $ 4,941 $ 3,753 Undistributed earnings allocated to common stock 5,535 3,730 12,234 9,962 Net income allocated to common stock $ 7,514 $ 5,115 $ 17,175 $ 13,715 Weighted average common shares outstanding, including shares considered participating securities 49,736 46,508 49,353 47,104 Less: Average participating securities (276 ) (341 ) (308 ) (302 ) Weighted average shares 49,460 46,167 49,045 46,802 Basic earnings per common share $ 0.15 $ 0.11 $ 0.35 $ 0.29 Diluted earnings per common share computation: Net income allocated to common stock $ 7,514 $ 5,115 $ 17,175 $ 13,715 Weighted average common shares outstanding for basic earnings per common share 49,460 46,167 49,045 46,802 Add: Dilutive effects of assumed exercises of stock options and LTIP awards 391 225 396 214 Weighted average shares and dilutive potential common shares 49,851 46,392 49,441 47,016 Diluted earnings per common share $ 0.15 $ 0.11 $ 0.35 $ 0.29 |
OTHER COMPREHENSIVE INCOME (LOS
OTHER COMPREHENSIVE INCOME (LOSS) | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME (LOSS) | 12. OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) included in the consolidated statements of shareholders’ equity consists of unrealized gains and losses on available for sale securities, disproportional tax effects and changes in unrealized gains and losses on the postretirement liability. The change includes reclassification of net gains or (losses) on sales of securities of $236,000 and $218,000 for the three months ended September 30, 2017 and 2016, respectively and $566,000 and $604,000 for the nine months ended September 30, 2017 and 2016, respectively. Reclassifications also include amortization of unrealized gains on postretirement plan and accretion of unrealized loss on held to maturity securities. Other comprehensive income (loss) components and related tax effects for the three-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total September 30, 2017 (Dollars in thousands) Balances at beginning of period, net of tax $ (603 ) $ (17,110 ) $ (735 ) $ (18,448 ) Other comprehensive income before reclassifications 639 — — 639 Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 33 33 Reclassification adjustment for gains realized in income (153 ) — — (153 ) Net current period other comprehensive income 486 — 33 519 Balances at end of period, net of tax $ (117 ) $ (17,110 ) $ (702 ) $ (17,929 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total September 30, 2016 (Dollars in thousands) Balances at beginning of period, net of tax $ 8,379 $ (17,110 ) $ (889 ) $ 469 $ 511 $ (8,640 ) Other comprehensive income before reclassifications (1,227 ) — — — — (1,227 ) Amortization of unrealized gains of postretirement plan recognized in other comprehensive income — — — (289 ) — (289 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 47 — — 47 Reclassification adjustment for gains realized in income (142 ) — — — — (142 ) Net current period other comprehensive income (1,369 ) — 47 (289 ) — (1,611 ) Balances at end of period, net of tax $ 7,010 $ (17,110 ) $ (842 ) $ 180 $ 511 $ (10,251 ) Other comprehensive income (loss) components and related tax effects for the nine-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total September 30, 2017 (Dollars in thousands) Balances at beginning of period, net of tax $ (3,130 ) $ (17,110 ) $ (800 ) $ (21,040 ) Other comprehensive income before reclassifications 3,381 — — 3,381 Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 98 98 Reclassification adjustment for gains realized in income (368 ) — — (368 ) Net current period other comprehensive income 3,013 — 98 3,111 Balances at end of period, net of tax $ (117 ) $ (17,110 ) $ (702 ) $ (17,929 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total September 30, 2016 (Dollars in thousands) Balances at beginning of period, net of tax $ (2,492 ) $ (17,110 ) $ (960 ) $ 831 $ 511 $ (19,220 ) Other comprehensive income before reclassifications 9,895 — — — 9,895 Amortization of unrealized gains of postretirement plan recognized in other comprehensive income — — — (651 ) — (651 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 118 — — 118 Reclassification adjustment for gains realized in income (393 ) — — — — (393 ) Net current period other comprehensive income 9,502 — 118 (651 ) — 8,969 Balances at end of period, net of tax $ 7,010 $ (17,110 ) $ (842 ) $ 180 $ 511 $ (10,251 ) As of June 30, 2014, management concluded it was more likely than not that the Company’s net deferred tax asset (DTA) would be realized and accordingly determined a full deferred tax valuation allowance was no longer required. Upon reversal of the former full deferred tax valuation allowance as of June 30, 2014, certain disproportionate tax effects are retained in accumulated other comprehensive income (loss) totaling approximately a ($16.6) million loss. Almost the entire disproportionate tax effect is attributable to valuation allowance expense recorded through other comprehensive income (loss) on the tax benefit of losses sustained on the available for sale securities portfolio while the Company was in a full deferred tax valuation allowance. This valuation allowance was appropriately reversed through continuing operations at June 30, 2014, leaving the original expense in accumulated other comprehensive income (loss), where it will remain in accordance with the Company’s election of the “portfolio approach”, until such time as the Company would cease to have an available for sale security portfolio. The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended September 30, 2017: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 236 Net gains on securities (83 ) Tax expense Total reclassification during the period $ 153 Net of tax, increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended September 30, 2016: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 218 Net gains (76 ) Tax expense 142 Net of tax Amortization of postretirement benefits prior service costs 445 Reduction in salaries and employee benefits (156 ) Tax expense 289 Net of tax Total reclassification during the period $ 431 Increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the nine months ended September 30, 2017: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 566 Net gains on securities (198 ) Tax expense Total reclassification during the period $ 368 Net of tax, increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the nine months ended September 30, 2016: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 604 Net gains (211 ) Tax expense 393 Net of tax Amortization of postretirement benefits prior service costs 1,001 Reduction in salaries and employee benefits (350 ) Tax expense 651 Net of tax Total reclassification during the period $ 1,044 Increase to net income |
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS | 9 Months Ended |
Sep. 30, 2017 | |
Banking And Thrift [Abstract] | |
REGULATORY CAPITAL REQUIREMENTS | 13. REGULATORY CAPITAL REQUIREMENTS Home Savings and United Community are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on Home Savings and United Community. The regulations require Home Savings to meet specific capital adequacy guidelines in keeping with the regulatory framework for prompt corrective action that involve quantitative measures of Home Savings’ assets, liabilities, and certain off balance sheet items as calculated under regulatory accounting practices. Home Savings’ capital classification is also subject to qualitative judgments by the regulators about components of capital, risk weightings, and other factors. The Basel III Capital Rules establish a common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets), a minimum Tier 1 capital to risk-based assets requirement (6% of risk-weighted assets) and assigns a risk weight (150%) to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The rules also require unrealized gains and losses on certain available-for-sale securities holdings to be included for purposes of calculating regulatory capital requirements unless a one-time opt-in or opt-out is exercised. In connection with the adoption of the Basel III Capital Rules, United Community and Home Savings elected to opt-out of the requirement to include most components of accumulated other comprehensive income in Common Equity Tier 1. The 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. The capital conservation buffer requirement will be 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 capital conservation buffer for 2016 was 0.625%. The final rule also implemented consolidated capital requirements. Quantitative measures established by regulation for capital adequacy require Home Savings to maintain minimum ratios of Tier 1 (or Core) capital (as defined in the regulations) to average total assets (as defined) and of total risk-based capital (as defined) to risk-weighted assets (as defined). United Community and Home Savings’ Common Equity Tier 1 capital consists of common stock and related paid-in capital, net of treasury stock, and retained earnings. Common Equity Tier 1 for both United Community and Home Savings is reduced by intangible assets, net of associated deferred tax liabilities and subject to transition provisions. Actual and regulatory required capital ratios for Home Savings, along with the dollar amount of capital implied by such ratios, are presented below. September 30, 2017 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) $ 287,665 14.74 % $ 180,469 9.25 % $ 195,101 10.00 % Tier 1 capital (to risk-weighted assets) 267,141 13.69 % 141,448 7.25 % 156,081 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 267,141 13.69 % 112,183 5.75 % 126,816 6.50 % Tier 1 capital (to average assets)** 267,141 10.46 % 102,142 4.00 % 127,677 5.00 % December 31, 2016 To Be Well Capitalized Minimum Capital Under Prompt Requirements Corrective Action Actual Per Regulation*** Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 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 4.000 % 107,950 5.00 % ** Tier 1 Leverage Capital Ratio *** The capital ratios are reflective of the capital conservation buffer Management believes that as of September 30, 2017 and December 31, 2016, Home Savings met all capital adequacy requirements to which it was subject. As of September 30, 2017 and December 31, 2016, Home Savings met the capital requirements to be deemed well capitalized. There are no known conditions that would change this classification subsequent to September 30, 2017. The components of Home Savings’ regulatory capital are as follows: September 30, 2017 December 31, 2016 Total shareholders' equity $ 272,589 $ 216,475 Add (deduct) Accumulated other comprehensive income 17,944 21,056 Intangible assets (20,241 ) (3 ) Disallowed deferred tax assets (3,151 ) (7,590 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 267,141 229,938 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 20,524 18,923 Total risk-based capital $ 287,665 $ 248,861 Actual and regulatory required consolidated capital ratios for United Community, along with the dollar amount of capital implied by such ratios, are presented below. September 30, 2017 Minimum Capital Requirements Actual Per Regulation*** Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 300,578 15.38 % $ 180,758 9.25 % Tier 1 capital (to risk-weighted assets) 280,023 14.33 % 141,675 7.25 % Common equity Tier 1 capital (to risk-weighted assets) 280,023 14.33 % 112,363 5.75 % Tier 1 capital (to average assets)** 280,023 10.95 % 102,306 4.00 % December 31, 2016 Minimum Capital Requirements Actual Per Regulation*** Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 277,817 18.38 % $ 130,369 8.625 % Tier 1 capital (to risk-weighted assets) 258,869 17.13 % 100,139 6.625 % Common equity Tier 1 capital (to risk-weighted assets) 258,869 17.13 % 77,466 5.125 % Tier 1 capital (to average assets)** 258,869 11.98 % 86,425 4.000 % ** Tier 1 Leverage Capital Ratio *** The capital ratios are reflective of the capital conservation buffer The components of United Community’s consolidated regulatory capital are as follows: September 30, 2017 December 31, 2016 Total shareholders' equity $ 291,851 $ 249,806 Add (deduct) Accumulated other comprehensive income 17,929 21,040 Intangible assets (22,773 ) (1,567 ) Disallowed deferred tax assets (6,984 ) (10,410 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 280,023 258,869 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 20,555 18,948 Total risk-based capital $ 300,578 $ 277,817 |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 14. INCOME TAXES Significant components of the deferred tax assets and liabilities are as follows: September 30, December 31, 2017 2016 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 7,194 $ 6,680 Depreciation 940 748 Other real estate owned valuation 148 354 Tax credits carryforward 2,816 1,471 Unrealized loss on securities available for sale 62 1,685 Unrealized loss on securities held to maturity 378 431 Interest on nonaccrual loans 887 1,039 Net operating loss carryforward 4,613 8,574 Purchase accounting adjustment 781 — Accrued bonuses 991 812 Other 80 221 Deferred tax assets 18,890 22,015 Deferred tax liabilities: Deferred loan fees 1,772 1,275 Federal Home Loan Bank stock dividends 4,645 4,585 Mortgage servicing rights 2,257 2,124 FHLB prepayment penalty 649 786 Purchase accounting adjustment — 371 Prepaid expenses 555 139 Deferred tax liabilities 9,878 9,280 Net deferred tax asset $ 9,012 $ 12,735 As of September 30, 2017, the net deferred tax asset was $9.0 million, and as of December 31, 2016, the net deferred tax asset was $12.7 million. The Company’s ultimate realization of the net deferred tax asset 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 $13.2 million at September 30, 2017 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 $2.8 million of alternative minimum tax credits. The alternative minimum tax credits are carried forward indefinitely. Effective tax rates differ from the statutory federal income tax rate of 35% due to the following: For the Three Months Ended September 30, 2017 2016 Dollars Rate Dollars Rate (Dollars in thousands) Tax at statutory rate: $ 3,718 35.00 % $ 2,604 35.00 % Increase (decrease) due to: Tax exempt income (164 ) (1.54 )% (142 ) (1.91 )% Life insurance (148 ) (1.39 )% (132 ) (1.78 )% Stock compensation (102 ) (0.96 )% — — % Other (237 ) (2.23 )% (42 ) (0.56 )% Income tax provision $ 3,067 28.88 % $ 2,288 30.75 % For the Nine Months Ended September 30, 2017 2016 Dollars Rate Dollars Rate (Dollars in thousands) Tax at statutory rate: $ 8,499 35.00 % $ 7,074 35.00 % Increase (decrease) due to: Tax exempt income (499 ) (2.05 )% (327 ) (1.62 )% Life insurance (416 ) (1.71 )% (388 ) (1.92 )% Stock compensation (300 ) (1.24 )% — — % Other (283 ) (1.17 )% 50 0.25 % Income tax provision $ 7,001 28.83 % $ 6,409 31.71 % |
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
GOODWILL AND INTANGIBLE ASSETS | 15. GOODWILL AND INTANGIBLE ASSETS Goodwill: The change in goodwill during the periods presented is as follows: September 30, 2017 December 31, 2016 (In thousands) Beginning of the year $ 208 $ — Effect of adjustments-James & Sons Insurance 636 — Acquired goodwill-OLCB 18,420 — Effect of adjustments-OLCB 15 — Acquired goodwill-Eich Brothers Insurance 188 — Acquired goodwill-Stevens Insurance 21 — Acquired goodwill-James & Sons Insurance — 208 Impairment — — End of the year $ 19,488 $ 208 The changes to goodwill during the nine months ended September 30, 2017 are primarily due to changes in the final market value for the customer list intangible asset, as well as the related tax effect from those adjustments related to the James & Sons acquisition in January 2016. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. If the carrying amount of a reporting unit is zero or less than zero, a qualitative analysis of whether it is more likely than not that the reporting unit goodwill is impaired will be performed. 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. The Company did not have any reporting units with a carrying amount of zero or less than zero at September 30, 2017 or December 31, 2016. Acquired Intangible Assets: September 30, 2017 December 31, 2016 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Amortized intangible assets: Core deposit intangibles $ 11,184 $ 9,167 $ 8,952 $ 8,947 Customer list intangible 2,222 132 1,400 44 Total $ 13,406 $ 9,299 $ 10,352 $ 8,991 Core deposit intangible: For the nine months ended September 30, 2017 For the year ended December 31, 2016 (In thousands) Beginning of the year $ 5 $ 30 Acquired core deposit intangible-OLCB 2,232 — Amortization (220 ) (25 ) End of the period $ 2,017 $ 5 Customer list intangible: For the nine months ended September 30, 2017 For the year ended December 31, 2016 (In thousands) Beginning of the year $ 1,356 $ — Effect of adjustments-James & Sons Insurance (41 ) — Acquired customer list intangible-OLCB 268 — Acquired customer list intangible-Eich Brothers Insurance 535 — Acquired customer list intangible-Stevens Insurance 60 — Acquired customer list intangible-James & Sons Insurance — 1,400 Amortization (88 ) (44 ) End of the period $ 2,090 $ 1,356 Aggregate amortization expense for the three months ended September 30, 2017 and 2016 was $113,000 and $72,000, respectively. Aggregate amortization expense for the nine months ended September 30, 2017 and 2016 was $308,000 and $95,000, respectively. Estimated amortization expense for the remainder of 2017 and the next five years is as follows: Remainder of 2017 $ 112,000 2018 448,000 2019 448,000 2020 448,000 2021 448,000 2022 448,000 |
QUALIFIED AFFORDABLE HOUSING PR
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS | 9 Months Ended |
Sep. 30, 2017 | |
Federal Home Loan Banks [Abstract] | |
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS | 16. QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company invests in qualified affordable housing projects. At September 30, 2017 and December 31, 2016, the balance of the investment for qualified affordable housing projects was $5.8 million and $3.0 million, 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 $5.7 million and $2.9 million at September 30, 2017 and December 31, 2016, respectively. The Company expects to fulfill these commitments over the next eight to ten years. During the three months ended September 30, 2017 and 2016, the Company recognized amortization expense of $44,000 and $5,000, respectively, which was included within income tax expense on the consolidated statements of income. During the nine months ended September 30, 2017 and 2016, the Company recognized amortization expense of $134,000 and $5,000, respectively. Additionally, during the three months ended September 30, 2017 and 2016, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $55,000 and $6,000, respectively. During the nine months ended September 30, 2017 and 2016, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $165,000 and $6,000, respectively. During the three and nine months ended September 30, 2017 and 2016, the Company incurred no impairment losses. |
RECENT ACCOUNTING DEVELOPMENTS
RECENT ACCOUNTING DEVELOPMENTS (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Changes And Error Corrections [Abstract] | |
Revenue from Contracts with Customers | In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 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. |
Leases | In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) |
Improvements to Employee Share-Based Payment Accounting | In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, Compensation - Stock Compensation. In May 2017, the FASB issued ASU No. 2017-09 , Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting . ASU 2017-09 applies to entities that change the terms or conditions of a share-based payment award. The FASB adopted ASU 2017-09 to provide clarity and reduce diversity in practice as well as cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation , to the modification of the terms and conditions of a share-based payment award. The amendments in ASU 2017-09 include guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. These amendments require the entity to account for the effects of a modification unless all of the following conditions are met: • The fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the modified award is the same as the fair value (or value using an alternative measurement method) of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation technique that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification; • The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and • The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The amendments are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period for. The amendments should be applied prospectively to an award modified on or after the adoption date. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. |
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 • Debt prepayment or debt extinguishment costs. • 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. • Contingent consideration payments made after a business combination. • Proceeds from the settlement of insurance claims. • Proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies. • Distributions received from equity method investees. • Beneficial interests in securitization transactions. • 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. |
Simplifying the Test for Goodwill Impairment | In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. |
Premium Amortization on Purchased Callable Debt Securities | In March 2017, the FASB issued Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. |
Distinguishing Liabilities from Equity, Derivatives and Hedging | In July 2017, the FASB ASU No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815 ) : (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. ASU 2017-11 simplifies the accounting for certain financial instruments with down round features, a provision in an equity-linked financial instrument (or embedded feature) that provides a downward adjustment of the current exercise price based on the price of future equity offerings. The new ASU will require companies to disregard the down round feature when assessing whether the instrument is indexed to its own stock, for purposes of determining liability or equity classification. Companies that provide earnings per share (EPS) data will adjust their basic EPS calculation for the effect of the feature when triggered (i.e., when the exercise price of the related equity-linked financial instrument is adjusted downward because of the down round feature) and will also recognize the effect of the trigger within equity. The provisions of the new ASU related to down rounds are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted for all entities. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. |
STOCK COMPENSATION (Tables)
STOCK COMPENSATION (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Option Activity in Plans | A summary of option activity in the plans is as follows: For the nine months ended September 30, 2017 Weighted Aggregate average intrinsic value Shares exercise price (in thousands) Outstanding at beginning of year 371,218 $ 2.55 Granted — — Exercised (80,085 ) 2.69 Forfeited and expired (600 ) 2.10 Outstanding at end of period 290,533 2.51 $ 2,061 Shares subject to options exercisable at end of period 290,533 2.51 $ 2,061 |
Information Related to Stock Options | Information related to stock options for the nine months ended September 30, 2017 and 2016 follows: September 30, 2017 September 30, 2016 Intrinsic value of options exercised $ 487,000 $ 631,000 Cash received from option exercises 216,000 462,000 Tax benefit realized from option exercises 170,523 — Weighted average fair value of options granted, per share $ — $ — |
Summary of Changes in Company's Nonvested Restricted Shares | A summary of changes in the Company’s nonvested restricted shares for the nine months ended September 30, 2017 is as follows: For the nine months ended September 30, 2017 Weighted average grant date Shares fair value Nonvested at beginning of year 341,184 $ 5.50 Granted 75,875 $ 8.60 Vested (141,621 ) $ 4.98 Forfeited — $ — Nonvested shares at end of period 275,438 $ 6.63 |
BUSINESS COMBINATION (Tables)
BUSINESS COMBINATION (Tables) - OLCB [Member] | 9 Months Ended |
Sep. 30, 2017 | |
Business Acquisition [Line Items] | |
Summary of Consideration Paid | The following table summarizes the consideration paid for OLCB. (In thousands) Cash $ 20,379 United Community shares issued 25,816 Total fair value of consideration paid $ 46,195 |
Schedule of Assets Acquired and Liabilities Assumed | At the acquisition date, United Community added the following to the Company’s consolidated statements of financial position: (In thousands) Cash $ 46,159 Loans 259,373 Available for sale securities 9,996 FHLB stock, at cost 1,256 Premises and equipment 2,940 Accrued interest 679 Other intangible assets 2,426 Other real estate owned 89 Other assets 7,988 Total assets acquired $ 330,906 Deposits assumed $ 266,279 Federal Home Loan Bank advances 23,500 Repurchase agreements and other borrowings 10,771 Accrued expenses and other liabilities 2,581 Total liabilities assumed $ 303,131 Goodwill created $ 18,420 |
Summary of Pro Forma Information | The following table presents proforma information as if the OLCB acquisition had occurred at the beginning of 2016. The proforma information includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the transaction, depreciation expense on property acquired, interest expense on deposits acquired, and the related income tax effects. The proforma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed dates. Net income includes the recognition of $4.1 million in acquisition related expenses incurred by United Community and $368,000 in acquisition related expenses for OLCB during the nine months ended September 30, 2017. The impact of the acquired insurance agencies is considered immaterial and not included in the table below. For the Nine Months Ended September 30, 2017 2016 (In thousands, except per share data) Net interest income $ 61,185 $ 55,595 Net income 16,928 16,118 Basic earnings per share $ 0.34 $ 0.32 Diluted earnings per share $ 0.34 $ 0.32 |
SECURITIES (Tables)
SECURITIES (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Components of Available for Sale Portfolio | Components of the available for sale portfolio are as follows: September 30, 2017 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and government sponsored entities' securities $ 125,153 $ 237 $ (330 ) $ 125,060 States of the U.S. and political subdivisions 58,959 699 (466 ) 59,192 Mortgage-backed GSE securities: residential 90,888 106 (424 ) 90,570 Total $ 275,000 $ 1,042 $ (1,220 ) $ 274,822 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 |
Components of Held to Maturity Securities Portfolio | Components of held to maturity securities portfolio are as follows: September 30, 2017 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed GSE securities: residential $ 76,314 $ — $ (615 ) $ 75,699 States of the U.S. and political subdivisions 9,235 94 (4 ) 9,325 Total $ 85,549 $ 94 $ (619 ) $ 85,024 December 31, 2016 Gross Gross Amortized unrecognized unrecognized 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 |
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: September 30, 2017 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ — $ — Due after one year through five years 14,556 14,570 Due after five years through ten years 111,011 110,912 Due after ten years 58,545 58,770 Mortgage-backed GSE securities: residential 90,888 90,570 Total $ 275,000 $ 274,822 |
Securities Available for Sale and Held to Maturity in Unrealized and Unrecognized Loss Position | Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at September 30, 2017 are as follows: September 30, 2017 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ 59,316 $ (330 ) $ — $ — $ 59,316 $ (330 ) States of the U.S. and political subdivisions 21,789 (283 ) 6,350 (183 ) 28,139 (466 ) Mortgage-backed GSE securities: residential 68,648 (424 ) — — 68,648 (424 ) Total temporarily impaired securities $ 149,753 $ (1,037 ) $ 6,350 $ (183 ) $ 156,103 $ (1,220 ) Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at December 31, 2016 are as follows: 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: 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 ) |
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: September 30, 2017 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 7,285 7,357 Due after ten years 1,950 1,968 Mortgage-backed GSE securities: residential 76,314 75,699 Total $ 85,549 $ 85,024 |
Securities Available for Sale and Held to Maturity in Unrealized and Unrecognized Loss Position | Securities held to maturity that have been in an unrecognized loss position for less than twelve months or twelve months or more are as follows: September 30, 2017 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 $ 48,309 $ (668 ) $ 27,390 $ (1,027 ) $ 75,699 $ (1,695 ) States of the U.S. and political subdivisions 1,543 (4 ) — — 1,543 (4 ) Total temporarily impaired securities $ 49,852 $ (672 ) $ 27,390 $ (1,027 ) $ 77,242 $ (1,699 ) 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 ) |
LOANS (Tables)
LOANS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Schedule of Portfolio of Loans | Portfolio loans consist of the following: September 30, December 31, 2017 2016 (Dollars in thousands) Commercial loans Multifamily $ 126,977 $ 93,597 Nonresidential 366,747 231,401 Land 13,666 8,373 Construction 108,105 68,158 Secured 167,433 95,343 Unsecured 8,148 7,386 Total commercial loans 791,076 504,258 Residential mortgage loans One-to four-family 851,863 762,926 Construction 57,081 35,695 Total residential mortgage loans 908,944 798,621 Consumer loans Home equity 193,402 165,054 Auto 56,883 39,609 Marine 1,564 1,796 Recreational vehicle 6,249 7,602 Other 5,594 2,537 Total consumer loans 263,692 216,598 Total loans 1,963,712 1,519,477 Less: Allowance for loan losses 20,555 19,087 Deferred loan costs, net (4,538 ) (3,187 ) Total 16,017 15,900 Loans, net $ 1,947,695 $ 1,503,577 |
Investment in Loans by Portfolio Segment and Based on Impairment | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and are based on impairment method as of September 30, 2017 and December 31, 2016 and activity for the three and nine months ended September 30, 2017 and 2016. Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended September 30, 2017 Beginning balance $ 10,821 $ 5,968 $ 2,871 $ 19,660 Provision (recovery) 512 369 (160 ) 721 Charge-offs (12 ) (427 ) (147 ) (586 ) Recoveries 361 136 263 760 Ending balance $ 11,682 $ 6,046 $ 2,827 $ 20,555 For the nine months ended September 30, 2017 Beginning balance $ 10,824 $ 5,538 $ 2,725 $ 19,087 Provision 1,537 1,234 267 3,038 Charge-offs (1,335 ) (930 ) (626 ) (2,891 ) Recoveries 656 204 461 1,321 Ending balance $ 11,682 $ 6,046 $ 2,827 $ 20,555 As of September 30, 2017 Period-end amount allocated to: Loans individually evaluated for impairment $ 16 $ 1,169 $ 411 1,596 Loans collectively evaluated for impairment 11,612 4,877 2,416 18,905 Loans acquired with deteriorated credit quality 54 — — 54 Ending balance $ 11,682 $ 6,046 $ 2,827 $ 20,555 Period-end balances: Loans individually evaluated for impairment 2,322 16,718 7,314 26,354 Loans collectively evaluated for impairment 787,550 892,226 256,378 1,936,154 Loans acquired with deteriorated credit quality 1,204 — — 1,204 Ending balance $ 791,076 $ 908,944 $ 263,692 $ 1,963,712 Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total For the three months ended September 30, 2016 Beginning balance $ 8,958 $ 5,644 $ 2,570 $ 17,172 Provision 842 268 234 1,344 Charge-offs (533 ) (166 ) (222 ) (921 ) Recoveries 527 20 92 639 Ending balance $ 9,794 $ 5,766 $ 2,674 $ 18,234 For the nine months ended September 30, 2016 Beginning balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 Provision (recovery) 4,055 (359 ) 198 3,894 Charge-offs (3,026 ) (612 ) (977 ) (4,615 ) Recoveries 688 107 448 1,243 Ending balance $ 9,794 $ 5,766 $ 2,674 $ 18,234 As of December 31, 2016 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 |
Presentation of Loans Individually Evaluated for Impairment by Class | The following table presents loans individually evaluated for impairment by class of loans as of and for nine months ended September 30, 2017: 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 $ 466 $ 402 $ — $ 309 $ 3 $ 3 Nonresidential 673 153 — 818 6 6 Land 715 9 — 15 — — Construction 2,467 — — — — — Secured 263 210 — 195 1 1 Unsecured 194 — — — — — Total commercial loans 4,778 774 — 1,337 10 10 Residential mortgage loans One-to four-family 6,793 5,814 — 6,025 81 73 Construction — — — — — — Total residential mortgage loans 6,793 5,814 — 6,025 81 73 Consumer loans Home equity 1,556 1,177 — 1,477 11 11 Auto 8 1 — 9 — — Marine 540 169 — 200 — — Recreational vehicle 809 389 — 220 12 12 Other 1 1 — — — — Total consumer loans 2,914 1,737 — 1,906 23 23 Total $ 14,485 $ 8,325 $ — $ 9,268 $ 114 $ 106 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential 1,582 1,548 16 2,010 86 85 Land — — — — — — Construction — — — — — — Secured — — — 43 — — Unsecured — — — — — — Total commercial loans 1,582 1,548 16 2,053 86 85 Residential mortgage loans One-to four-family 11,042 10,904 1,169 10,799 385 343 Construction — — — — — — Total residential mortgage loans 11,042 10,904 1,169 10,799 385 343 Consumer loans Home equity 5,132 5,055 387 5,173 214 199 Auto — — — — — — Marine 102 102 1 105 4 4 Recreational vehicle 432 420 23 616 14 14 Other — — — — — — Total consumer loans 5,666 5,577 411 5,894 232 217 Total 18,290 18,029 1,596 18,746 703 645 Total impaired loans $ 32,775 $ 26,354 $ 1,596 $ 28,014 $ 817 $ 751 The following table presents loans individually evaluated for impairment by class of loans as of and for nine months ended September 30, 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 $ 59 $ — $ — $ — $ — $ — Nonresidential 952 149 — 248 4 4 Land 3,922 134 — 322 — — Construction 3,594 — — — — — Secured 3,743 3,700 — 3,700 — — Unsecured 821 — — — 7 7 Total commercial loans 13,091 3,983 — 4,270 11 11 Residential mortgage loans One-to four-family 7,401 5,727 — 6,049 55 49 Construction — — — — — — Total residential mortgage loans 7,401 5,727 — 6,049 55 49 Consumer loans Home equity 1,728 1,272 — 1,415 14 14 Auto 13 8 — 10 — — Marine 543 301 — 294 — — Recreational vehicle 637 322 — 241 4 4 Other — — — 3 — — Total consumer loans 2,921 1,903 — 1,963 18 18 Total $ 23,413 $ 11,613 $ — $ 12,282 $ 84 $ 78 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential 11,660 9,164 935 7,911 208 206 Land — — — — — — Construction — — — — — — Secured 616 550 81 692 — — Unsecured — — — — — — Total commercial loans 12,276 9,714 1,016 8,603 208 206 Residential mortgage loans One-to four-family 12,123 12,121 1,342 12,587 423 373 Construction — — — — — — Total residential mortgage loans 12,123 12,121 1,342 12,587 423 373 Consumer loans Home equity 5,997 5,997 435 6,592 257 238 Auto — — — — — — Marine 153 153 4 158 6 4 Recreational vehicle 655 655 77 815 20 19 Other — — — 2 — — Total consumer loans 6,805 6,805 516 7,567 283 261 Total 31,204 28,640 2,874 28,757 914 840 Total impaired loans $ 54,617 $ 40,253 $ 2,874 $ 41,039 $ 998 $ 918 The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2016: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no specific allowance recorded Commercial loans Multifamily $ 55 $ — $ — Nonresidential 2,278 1,489 — Land 3,922 34 — Construction 3,594 — — Secured 242 190 — Unsecured 713 — — Total commercial loans 10,804 1,713 — Residential mortgage loans One-to four-family 8,736 6,758 — Construction — — — Total residential mortgage loans 8,736 6,758 — Consumer loans Home equity 2,159 1,583 — Auto 11 3 — Marine 585 267 — Recreational vehicle 433 120 — Other — — — Total consumer loans 3,188 1,973 — Total $ 22,728 $ 10,444 $ — With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 6,930 4,133 1,193 Land — — — Construction — — — Secured 237 172 78 Unsecured — — — Total commercial loans 7,167 4,305 1,271 Residential mortgage loans One-to four-family 10,810 10,727 1,245 Construction — — — Total residential mortgage loans 10,810 10,727 1,245 Consumer loans Home equity 5,390 5,335 426 Auto — — — Marine 108 108 1 Recreational vehicle 639 629 73 Other — — — Total consumer loans 6,137 6,072 500 Total 24,114 21,104 3,016 Total impaired loans $ 46,842 $ 31,548 $ 3,016 The following table presents loans individually evaluated for impairment by class of loans as of and for the three months ended September 30, 2017: Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 408 $ — $ — Nonresidential 809 3 3 Land 9 — — Construction — — — Secured 200 1 1 Unsecured — — — Total commercial loans 1,426 4 4 Residential mortgage loans One-to four-family 5,788 35 33 Construction — — — Total residential mortgage loans 5,788 35 33 Consumer loans Home equity 1,356 4 4 Auto 10 — — Marine 169 — — Recreational vehicle 271 3 3 Other 1 — — Total consumer loans 1,807 7 7 Total $ 9,021 $ 46 $ 44 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 1,002 26 26 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1,002 26 26 Residential mortgage loans One-to four-family 10,666 112 112 Construction — — — Total residential mortgage loans 10,666 112 112 Consumer loans Home equity 4,987 65 65 Auto — — — Marine 103 1 1 Recreational vehicle 556 5 5 Other — — — Total consumer loans 5,646 71 71 Total 17,314 209 209 Total impaired loans $ 26,335 $ 255 $ 253 The following table presents loans individually evaluated for impairment by class of loans as of and for the three months ended September 30, 2016: Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 238 1 1 Land 259 — Construction — — — Secured 3,700 — — Unsecured — — — Total commercial loans 4,197 1 1 Residential mortgage loans One-to four-family 6,125 19 19 Construction — — — Total residential mortgage loans 6,125 19 19 Consumer loans Home equity 1,306 9 9 Auto 9 — — Marine 302 — — Recreational vehicle 298 1 1 Other 2 — — Total consumer loans 1,917 10 10 Total $ 12,239 $ 30 $ 30 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 8,868 84 84 Land — — — Construction — — — Secured 742 — — Unsecured — — — Total commercial loans 9,610 84 84 Residential mortgage loans One-to four-family 12,077 132 127 Construction — — — Total residential mortgage loans 12,077 132 127 Consumer loans Home equity 6,138 77 76 Auto — — — Marine 155 2 2 Recreational vehicle 724 6 6 Other — — — Total consumer loans 7,017 85 84 Total 28,704 301 295 Total impaired loans $ 40,943 $ 331 $ 325 |
Loans in Process of Foreclosure | The table below presents loans that are in the process of foreclosure at September 30, 2017 and December 31, 2016, but legal title, deed in lieu of foreclosure or similar legal agreement to the property has not yet been obtained: September 30, 2017 December 31, 2016 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment (Dollars in thousands) (Dollars in thousands) Mortgage loans in process of foreclosure $ 2,975 $ 2,805 $ 3,025 $ 2,576 Consumer loans in process of foreclosure 955 798 1,069 795 |
Presentation of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days and Still on Accrual by Class of Loans | The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans as of September 30, 2017: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of September 30, 2017 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ 402 $ — Nonresidential 1,234 — Land 9 — Construction — — Secured 234 — Unsecured — — Total commercial loans 1,879 — Residential mortgage loans One-to four-family 6,627 — Construction — — Total residential mortgage loans 6,627 — Consumer Loans Home equity 1,714 — Auto 38 — Marine 169 — Recreational vehicle 409 6 Other 2 2 Total consumer loans 2,332 8 Total nonaccrual loans and loans past due over 90 days and still accruing $ 10,838 $ 8 The following table presents the recorded investment in nonaccrual loans 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 $ — |
Presentation of Age Analysis of Past-Due Loans, Segregated by Class of Loans | The following table presents an age analysis of past-due loans, segregated by class of loans as of September 30, 2017: 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 $ — $ 402 $ 402 $ 126,575 $ 126,977 Nonresidential 206 1,204 7 1,417 365,330 366,747 Land — — 9 9 13,657 13,666 Construction — — — — 108,105 108,105 Secured 157 16 212 385 167,048 167,433 Unsecured — — — — 8,148 8,148 Total commercial loans 363 1,220 630 2,213 788,863 791,076 Residential mortgage loans One-to four-family 3,588 1,305 5,066 9,959 841,904 851,863 Construction — — — — 57,081 57,081 Total residential mortgage loans 3,588 1,305 5,066 9,959 898,985 908,944 Consumer Loans: Home equity 1,026 192 1,467 2,685 190,717 193,402 Automobile 137 76 17 230 56,653 56,883 Marine 13 — 169 182 1,382 1,564 Recreational vehicle 357 164 298 819 5,430 6,249 Other 2 13 3 18 5,576 5,594 Total consumer loans 1,535 445 1,954 3,934 259,758 263,692 Total loans $ 5,486 $ 2,970 $ 7,650 $ 16,106 $ 1,947,606 $ 1,963,712 The following table presents 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 |
Loans by Class Modified as Troubled Debt Restructurings | The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended September 30, 2017: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 1 147 169 Construction — — — Total residential mortgage loans 1 147 169 Consumer loans Home equity — — — Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans — — — Total restructured loans 1 $ 147 $ 169 The following table presents loans by class modified as troubled debt restructurings that occurred during the nine months ended September 30, 2017: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 2 222 253 Construction — — — Total residential mortgage loans 2 222 253 Consumer loans Home equity — — — Auto — — — Marine — — — Recreational vehicle 1 115 115 Other — — — Total consumer loans 1 115 115 Total restructured loans 3 $ 337 $ 368 The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended September 30, 2016: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 1,371 1,377 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 1,371 1,377 Residential mortgage loans One-to four-family 1 113 114 Construction — — — Total residential mortgage loans 1 113 114 Consumer loans Home equity — — — Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans — — — Total restructured loans 2 $ 1,484 $ 1,491 The following table presents loans by class modified as troubled debt restructurings that occurred during the nine months ended September 30, 2016: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 3 5,459 5,465 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 3 5,459 5,465 Residential mortgage loans One-to four-family 4 429 449 Construction — — — Total residential mortgage loans 4 429 449 Consumer loans Home equity 3 130 134 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 3 130 134 Total restructured loans 10 $ 6,018 $ 6,048 |
Loans by Class Modified as Troubled Debt Restructurings with Payment Default | The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve-month cycle following the modification during the period ended September 30, 2017. Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 1 162 Construction — — Total residential mortgage loans 1 162 Consumer loans Home equity 1 47 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 1 47 Total restructured loans 2 $ 209 The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve month cycle following the modification during the period ended September 30, 2016: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 1 4 Construction — — Total residential mortgage loans 1 4 Consumer loans Home equity — — Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans — — Total restructured loans 1 $ 4 |
Risk Category of Loans by Class of Loans | As of September 30, 2017 and December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Loans September 30, 2017 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 124,441 $ 1,975 $ 561 $ — $ — $ 561 $ 126,977 Nonresidential 355,846 3,171 7,730 — — 7,730 366,747 Land 13,657 — 9 — — 9 13,666 Construction 107,702 403 — — — — 108,105 Secured 137,977 1,421 28,035 — — 28,035 167,433 Unsecured 8,054 — 94 — — 94 8,148 Total commercial loans 747,677 6,970 36,429 — — 36,429 791,076 Residential mortgage loans One-to four-family 842,928 769 8,166 — — 8,166 851,863 Construction 57,081 — — — — — 57,081 Total residential mortgage loans 900,009 769 8,166 — — 8,166 908,944 Consumer Loans Home equity 191,689 — 1,713 — — 1,713 193,402 Auto 56,845 — 38 — — 38 56,883 Marine 1,395 — 169 — — 169 1,564 Recreational vehicle 5,840 — 409 — — 409 6,249 Other 5,592 — 2 — — 2 5,594 Total consumer loans 261,361 — 2,331 — — 2,331 263,692 Total loans $ 1,909,047 $ 7,739 $ 46,926 $ — $ — $ 46,926 $ 1,963,712 Loans 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 |
Schedule of Purchased Credit Impaired Loans for which Payments Would Not be Collected | The carrying amount of those loans is as follows: September 30, 2017 (Dollars in thousands) Commercial loans $ 1,204 Residential mortgage loans — Consumer loans — Outstanding balance $ 1,204 Carrying amount, net of allowance of $54,000 $ 1,150 |
Accretable Yield or Income Expected to be Collected | Accretable yield, or income expected to be collected, is as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 (Dollars in thousands) Beginning of period $ 116 $ — New loans purchased — 158 Accretion of income 12 54 Balance at September 30 $ 104 $ 104 |
Schedule of Purchased Credit Impaired Loans Acquired at Acquisition | Purchased credit impaired loans acquired during the nine months ended September 30, 2017 for which it was probable at acquisition that all contractually required payments would not be collected are as follows: September 30, 2017 (Dollars in thousands) Contractually required payments receivable of loans purchased during the year: Commercial loans $ 4,499 Residential mortgage loans — Consumer loans — $ 4,499 Cash flow expected to be collected at acquisition $ 1,955 Fair value of acquired loans at acquisition 1,797 |
Carrying Amount of Purchased Credit Impaired Loans | Income is not recognized on purchased credit impaired loans if the Company cannot reasonably estimate cash flows expected to be collected. The carrying amounts of such loans are as follows: September 30, 2017 (Dollars in thousands) Loans at beginning of year $ — Loans purchased during the year 1,797 Loans at end of period 1,204 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Mortgage Banking [Abstract] | |
Principal Balances of Mortgage Servicing Rights | The principal balances of mortgage loans serviced for others are as follows: September 30, 2017 December 31, 2016 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 979,546 $ 956,278 FNMA 235,246 208,114 Private investor 26,350 — |
Capitalized Mortgage Servicing Rights | Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Balance, beginning of period $ 6,161 $ 5,813 $ 6,070 $ 5,686 Originations 793 708 1,819 1,870 Amortized to expense (491 ) (525 ) (1,426 ) (1,560 ) Balance, end of period 6,463 5,996 6,463 5,996 Less valuation allowance (15 ) (741 ) (15 ) (741 ) Net balance $ 6,448 $ 5,255 $ 6,448 $ 5,255 |
Valuation Allowance for Mortgage Servicing Rights | Activity in the valuation allowance for mortgage servicing rights was as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Balance, beginning of period $ (5 ) $ (766 ) $ — $ (39 ) Impairment charges (10 ) — (15 ) (727 ) Recoveries — 25 — 25 Balance, end of period $ (15 ) $ (741 ) $ (15 ) $ (741 ) |
Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights | Key economic assumptions in measuring the value of mortgage servicing rights at September 30, 2017, and December 31, 2016, were as follows: September 30, 2017 December 31, 2016 Weighted average prepayment rate 187 PSA 165 PSA Weighted average life (in years) 6.22 6.64 Weighted average discount rate 9.00% 9.00% |
OTHER REAL ESTATE OWNED AND O31
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Real Estate [Abstract] | |
Real Estate Owned and Other Repossessed Assets | Real estate owned and other repossessed assets at September 30, 2017 and December 31, 2016 were as follows: September 30, 2017 December 31, 2016 (Dollars in thousands) Real estate owned and other repossessed assets $ 1,566 $ 2,789 Valuation allowance (423 ) (1,012 ) End of period $ 1,143 $ 1,777 |
Valuation Allowance Related to Real Estate Owned | Activity in the valuation allowance was as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 (Dollars in thousands) Beginning of period $ 389 $ 1,001 $ 1,012 $ 1,229 Amounts charged to (recovery of) expense 53 1 15 (25 ) Reductions due to sales (19 ) 1 (604 ) (201 ) End of period $ 423 $ 1,003 $ 423 $ 1,003 |
Expenses Related to Foreclosed and Repossessed Assets | Expenses related to foreclosed and repossessed assets include: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 (Dollars in thousands) Net loss (gains) on sales $ 20 $ (1 ) $ 128 $ 101 Provision for unrealized (gains) losses , net 53 1 15 (25 ) Operating expenses, net of rental income 33 41 118 190 Total expenses $ 106 $ 41 $ 261 $ 266 |
FAIR VALUE MEASUREMENT (Tables)
FAIR VALUE MEASUREMENT (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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 September 30, 2017 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable September 30, Assets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities U.S. Treasury and government sponsored entities' securities $ 125,060 $ — $ 125,060 $ — States of the U.S. and political subdivisions 59,192 — 59,192 Mortgage-backed GSE securities: residential 90,570 — 90,570 — Loans held for sale, at fair value 84,349 — 14,111 70,238 Purchased certificate of deposit option 823 — 823 — Liabilities Written certificate of deposit option 823 — 823 — Fair Value Measurements at December 31, 2016 Using: Quoted Prices in Active Significant 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 U.S. 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 — |
Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) | The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2017 and 2016. Loans Held for Sale, At Fair Value Loans Held for Sale, At Fair Value For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 69,995 $ 33,605 $ 53,761 $ 26,716 Total gains (losses) for the period Included in change in fair value of loans held for sale 1,145 414 3,557 1,705 Included in other comprehensive income — — — — Originations/Draws on construction perm loans 28,864 25,464 80,109 60,925 Amortization — — — — Sales (29,766 ) (12,347 ) (67,189 ) (42,210 ) Balance of recurring Level 3 assets at end of period $ 70,238 $ 47,136 $ 70,238 $ 47,136 |
Assets and Liabilities Measured at Fair Value on Non-recurring Basis | Assets and Liabilities Measured on a Non-Recurring Basis: Assets and liabilities measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at September 30, 2017 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable September 30, Assets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Multifamily $ 443 $ — $ — $ 443 Residential loans One-to four-family residential 536 — — 536 Consumer loans Home Equity 92 — — 92 Marine 169 — — 169 Mortgage servicing rights 125 — 125 — Other real estate owned, net Commercial loans Construction loans 443 — — 443 Residential loans One-to four-family residential 136 — — 136 Fair Value Measurements at December 31, 2016 Using: Quoted Prices in Active Significant 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 Option for Newly Originated Residential Mortgage and Permanent Construction Loans Held for Sale | The Company has elected the fair value option for newly originated residential mortgage and permanent construction loans held for sale. These loans are intended for sale and the Company believes that fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 or more days past due nor on nonaccrual status as of September 30, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 (Dollars in thousands) Aggregate fair value $ 84,349 $ 62,593 Contractual balance 80,611 62,843 Gain (loss) 3,738 (250 ) |
Amount of Gains and Losses from Changes in Fair Value Included in Earnings | The total amount of gains and losses from changes in fair value included in earnings for the three and nine months ended September 30, 2017 and 2016 for loans held for sale, at fair value were: For the Three Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 (Dollars in thousands) Interest income $ — $ — $ — $ — Interest expense — — — — Change in fair value 1,088 556 3,988 2,205 Total change in fair value $ 1,088 $ 556 $ 3,988 $ 2,205 |
Carrying Value and Estimated Fair Values of Financial Instruments | In accordance with U.S. GAAP, the carrying value and estimated fair values of financial instruments at September 30, 2017 and December 31, 2016, were as follows: Fair Value Measurements at September 30, 2017 Using: September 30, 2017 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 38,010 $ 38,010 $ — $ — Available for sale securities 274,822 — 274,822 — Held to maturity securities 85,549 — 85,024 — Loans held for sale 196 — 203 — Loans held for sale, at fair value 84,349 — 14,111 70,238 Loans, net 1,947,695 — — 1,942,267 FHLB stock 19,324 n/a n/a n/a Accrued interest receivable 7,253 — 1,733 5,520 Purchased certificate of deposit option 823 — 823 — Liabilities: Deposits: Checking, savings and money market accounts (1,241,779 ) (1,241,779 ) — — Certificates of deposit (696,920 ) — (698,045 ) — FHLB advances (328,341 ) — (328,342 ) — Repurchase agreements and other (10,191 ) — (9,911 ) — Advance payments by borrowers for taxes and insurance (16,048 ) (16,048 ) — — Accrued interest payable (722 ) — (722 ) — Written certificate of deposit option (823 ) — (823 ) — 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 ) — |
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 September 30, 2017: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 70,238 Comparable sales Time discount 0.00-1.80% The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2016: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 53,761 Comparable sales Time discount 0.00-1.80% |
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 September 30, 2017: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Multi Family $ 443 Sales comparison approach Adjustment for differences between comparable sales 0.00%-35.00% (15.00%) Residential loans One-to four-family residential 536 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Consumer loans Home Equity 92 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Marine 169 Sales comparison approach Adjustment for differences between comparable sales 0.00%-37.00% (37.00%) Other real estate owned, net Commercial loans Construction loans 443 Sales comparison approach Adjustment for differences between comparable sales 0.00%-80.00% Residential loans One-to four-family residential 136 Sales comparison approach Adjustment for differences between comparable sales 0.00%-0.00% (0.00%) 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 (Weighted Average) 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: Commercial loans Construction loans 748 Sales comparison approach Adjustment for differences between comparable sales 0.00%-90.40% (27.46%) Cost approach Adjustment for differences in cost 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%) |
STATEMENT OF CASH FLOWS SUPPL33
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosures of Cash Flow Information | Supplemental disclosures of cash flow information are summarized below. For the Nine Months Ended September 30, 2017 2016 (Dollars in thousands) Supplemental disclosures of cash flow information Cash paid during the period for: Interest on deposits and borrowings $ 8,611 $ 6,203 Income taxes 425 275 Supplemental schedule of noncash activities: Transfers from loans to real estate owned and other repossessed assets 651 813 Transfers from loans to loans held for sale 27,921 — Transfers from premises and equipment to other assets, held for sale 1,720 — Accretion of securities held to maturity 151 181 Issuance of common stock - James & Sons acquisition — 1,547 Issuance of common stock - Ohio Legacy Corp. acquisition 25,816 — Net assets acquired from Ohio Legacy Corp., excluding cash and cash equivalents 36 — |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands, except per share data) Net income per consolidated statements of income $ 7,556 $ 5,153 $ 17,283 $ 13,803 Net income allocated to participating securities (42 ) (38 ) (108 ) (88 ) Net income allocated to common stock $ 7,514 $ 5,115 $ 17,175 $ 13,715 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 1,979 $ 1,385 $ 4,941 $ 3,753 Undistributed earnings allocated to common stock 5,535 3,730 12,234 9,962 Net income allocated to common stock $ 7,514 $ 5,115 $ 17,175 $ 13,715 Weighted average common shares outstanding, including shares considered participating securities 49,736 46,508 49,353 47,104 Less: Average participating securities (276 ) (341 ) (308 ) (302 ) Weighted average shares 49,460 46,167 49,045 46,802 Basic earnings per common share $ 0.15 $ 0.11 $ 0.35 $ 0.29 Diluted earnings per common share computation: Net income allocated to common stock $ 7,514 $ 5,115 $ 17,175 $ 13,715 Weighted average common shares outstanding for basic earnings per common share 49,460 46,167 49,045 46,802 Add: Dilutive effects of assumed exercises of stock options and LTIP awards 391 225 396 214 Weighted average shares and dilutive potential common shares 49,851 46,392 49,441 47,016 Diluted earnings per common share $ 0.15 $ 0.11 $ 0.35 $ 0.29 |
OTHER COMPREHENSIVE INCOME (L35
OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) Components and Related Tax Effects | Other comprehensive income (loss) components and related tax effects for the three-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total September 30, 2017 (Dollars in thousands) Balances at beginning of period, net of tax $ (603 ) $ (17,110 ) $ (735 ) $ (18,448 ) Other comprehensive income before reclassifications 639 — — 639 Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 33 33 Reclassification adjustment for gains realized in income (153 ) — — (153 ) Net current period other comprehensive income 486 — 33 519 Balances at end of period, net of tax $ (117 ) $ (17,110 ) $ (702 ) $ (17,929 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total September 30, 2016 (Dollars in thousands) Balances at beginning of period, net of tax $ 8,379 $ (17,110 ) $ (889 ) $ 469 $ 511 $ (8,640 ) Other comprehensive income before reclassifications (1,227 ) — — — — (1,227 ) Amortization of unrealized gains of postretirement plan recognized in other comprehensive income — — — (289 ) — (289 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 47 — — 47 Reclassification adjustment for gains realized in income (142 ) — — — — (142 ) Net current period other comprehensive income (1,369 ) — 47 (289 ) — (1,611 ) Balances at end of period, net of tax $ 7,010 $ (17,110 ) $ (842 ) $ 180 $ 511 $ (10,251 ) Other comprehensive income (loss) components and related tax effects for the nine-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total September 30, 2017 (Dollars in thousands) Balances at beginning of period, net of tax $ (3,130 ) $ (17,110 ) $ (800 ) $ (21,040 ) Other comprehensive income before reclassifications 3,381 — — 3,381 Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 98 98 Reclassification adjustment for gains realized in income (368 ) — — (368 ) Net current period other comprehensive income 3,013 — 98 3,111 Balances at end of period, net of tax $ (117 ) $ (17,110 ) $ (702 ) $ (17,929 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total September 30, 2016 (Dollars in thousands) Balances at beginning of period, net of tax $ (2,492 ) $ (17,110 ) $ (960 ) $ 831 $ 511 $ (19,220 ) Other comprehensive income before reclassifications 9,895 — — — 9,895 Amortization of unrealized gains of postretirement plan recognized in other comprehensive income — — — (651 ) — (651 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 118 — — 118 Reclassification adjustment for gains realized in income (393 ) — — — — (393 ) Net current period other comprehensive income 9,502 — 118 (651 ) — 8,969 Balances at end of period, net of tax $ 7,010 $ (17,110 ) $ (842 ) $ 180 $ 511 $ (10,251 ) |
Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) | The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended September 30, 2017: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 236 Net gains on securities (83 ) Tax expense Total reclassification during the period $ 153 Net of tax, increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended September 30, 2016: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 218 Net gains (76 ) Tax expense 142 Net of tax Amortization of postretirement benefits prior service costs 445 Reduction in salaries and employee benefits (156 ) Tax expense 289 Net of tax Total reclassification during the period $ 431 Increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the nine months ended September 30, 2017: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 566 Net gains on securities (198 ) Tax expense Total reclassification during the period $ 368 Net of tax, increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the nine months ended September 30, 2016: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ 604 Net gains (211 ) Tax expense 393 Net of tax Amortization of postretirement benefits prior service costs 1,001 Reduction in salaries and employee benefits (350 ) Tax expense 651 Net of tax Total reclassification during the period $ 1,044 Increase to net income |
REGULATORY CAPITAL REQUIREMEN36
REGULATORY CAPITAL REQUIREMENTS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
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. September 30, 2017 Minimum Capital Requirements Actual Per Regulation*** Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 300,578 15.38 % $ 180,758 9.25 % Tier 1 capital (to risk-weighted assets) 280,023 14.33 % 141,675 7.25 % Common equity Tier 1 capital (to risk-weighted assets) 280,023 14.33 % 112,363 5.75 % Tier 1 capital (to average assets)** 280,023 10.95 % 102,306 4.00 % December 31, 2016 Minimum Capital Requirements Actual Per Regulation*** Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 277,817 18.38 % $ 130,369 8.625 % Tier 1 capital (to risk-weighted assets) 258,869 17.13 % 100,139 6.625 % Common equity Tier 1 capital (to risk-weighted assets) 258,869 17.13 % 77,466 5.125 % Tier 1 capital (to average assets)** 258,869 11.98 % 86,425 4.000 % |
Components of Regulatory Capital | The components of United Community’s consolidated regulatory capital are as follows: September 30, 2017 December 31, 2016 Total shareholders' equity $ 291,851 $ 249,806 Add (deduct) Accumulated other comprehensive income 17,929 21,040 Intangible assets (22,773 ) (1,567 ) Disallowed deferred tax assets (6,984 ) (10,410 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 280,023 258,869 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 20,555 18,948 Total risk-based capital $ 300,578 $ 277,817 |
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. September 30, 2017 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) $ 287,665 14.74 % $ 180,469 9.25 % $ 195,101 10.00 % Tier 1 capital (to risk-weighted assets) 267,141 13.69 % 141,448 7.25 % 156,081 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 267,141 13.69 % 112,183 5.75 % 126,816 6.50 % Tier 1 capital (to average assets)** 267,141 10.46 % 102,142 4.00 % 127,677 5.00 % December 31, 2016 To Be Well Capitalized Minimum Capital Under Prompt Requirements Corrective Action Actual Per Regulation*** Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 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 4.000 % 107,950 5.00 % ** Tier 1 Leverage Capital Ratio *** The capital ratios are reflective of the capital conservation buffer |
Components of Regulatory Capital | The components of Home Savings’ regulatory capital are as follows: September 30, 2017 December 31, 2016 Total shareholders' equity $ 272,589 $ 216,475 Add (deduct) Accumulated other comprehensive income 17,944 21,056 Intangible assets (20,241 ) (3 ) Disallowed deferred tax assets (3,151 ) (7,590 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 267,141 229,938 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 20,524 18,923 Total risk-based capital $ 287,665 $ 248,861 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the deferred tax assets and liabilities are as follows: September 30, December 31, 2017 2016 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 7,194 $ 6,680 Depreciation 940 748 Other real estate owned valuation 148 354 Tax credits carryforward 2,816 1,471 Unrealized loss on securities available for sale 62 1,685 Unrealized loss on securities held to maturity 378 431 Interest on nonaccrual loans 887 1,039 Net operating loss carryforward 4,613 8,574 Purchase accounting adjustment 781 — Accrued bonuses 991 812 Other 80 221 Deferred tax assets 18,890 22,015 Deferred tax liabilities: Deferred loan fees 1,772 1,275 Federal Home Loan Bank stock dividends 4,645 4,585 Mortgage servicing rights 2,257 2,124 FHLB prepayment penalty 649 786 Purchase accounting adjustment — 371 Prepaid expenses 555 139 Deferred tax liabilities 9,878 9,280 Net deferred tax asset $ 9,012 $ 12,735 |
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 Three Months Ended September 30, 2017 2016 Dollars Rate Dollars Rate (Dollars in thousands) Tax at statutory rate: $ 3,718 35.00 % $ 2,604 35.00 % Increase (decrease) due to: Tax exempt income (164 ) (1.54 )% (142 ) (1.91 )% Life insurance (148 ) (1.39 )% (132 ) (1.78 )% Stock compensation (102 ) (0.96 )% — — % Other (237 ) (2.23 )% (42 ) (0.56 )% Income tax provision $ 3,067 28.88 % $ 2,288 30.75 % For the Nine Months Ended September 30, 2017 2016 Dollars Rate Dollars Rate (Dollars in thousands) Tax at statutory rate: $ 8,499 35.00 % $ 7,074 35.00 % Increase (decrease) due to: Tax exempt income (499 ) (2.05 )% (327 ) (1.62 )% Life insurance (416 ) (1.71 )% (388 ) (1.92 )% Stock compensation (300 ) (1.24 )% — — % Other (283 ) (1.17 )% 50 0.25 % Income tax provision $ 7,001 28.83 % $ 6,409 31.71 % |
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill And Intangible Assets [Line Items] | |
Change in Goodwill | The change in goodwill during the periods presented is as follows: September 30, 2017 December 31, 2016 (In thousands) Beginning of the year $ 208 $ — Effect of adjustments-James & Sons Insurance 636 — Acquired goodwill-OLCB 18,420 — Effect of adjustments-OLCB 15 — Acquired goodwill-Eich Brothers Insurance 188 — Acquired goodwill-Stevens Insurance 21 — Acquired goodwill-James & Sons Insurance — 208 Impairment — — End of the year $ 19,488 $ 208 |
Schedule of Acquired Intangible Assets | Acquired Intangible Assets: September 30, 2017 December 31, 2016 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Amortized intangible assets: Core deposit intangibles $ 11,184 $ 9,167 $ 8,952 $ 8,947 Customer list intangible 2,222 132 1,400 44 Total $ 13,406 $ 9,299 $ 10,352 $ 8,991 |
Estimated Amortization Expense | Estimated amortization expense for the remainder of 2017 and the next five years is as follows: Remainder of 2017 $ 112,000 2018 448,000 2019 448,000 2020 448,000 2021 448,000 2022 448,000 |
Core deposit intangibles [Member] | |
Goodwill And Intangible Assets [Line Items] | |
Schedule of Acquired Intangible Assets | Core deposit intangible: For the nine months ended September 30, 2017 For the year ended December 31, 2016 (In thousands) Beginning of the year $ 5 $ 30 Acquired core deposit intangible-OLCB 2,232 — Amortization (220 ) (25 ) End of the period $ 2,017 $ 5 |
Customer list intangible [Member] | |
Goodwill And Intangible Assets [Line Items] | |
Schedule of Acquired Intangible Assets | Customer list intangible: For the nine months ended September 30, 2017 For the year ended December 31, 2016 (In thousands) Beginning of the year $ 1,356 $ — Effect of adjustments-James & Sons Insurance (41 ) — Acquired customer list intangible-OLCB 268 — Acquired customer list intangible-Eich Brothers Insurance 535 — Acquired customer list intangible-Stevens Insurance 60 — Acquired customer list intangible-James & Sons Insurance — 1,400 Amortization (88 ) (44 ) End of the period $ 2,090 $ 1,356 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) $ in Thousands | Jan. 31, 2017USD ($)shares | Sep. 30, 2017RetailBankingOfficeLoanProductionCenterManagementOffice |
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | ||
Number of retail banking offices | RetailBankingOffice | 35 | |
Number of loan production centers | LoanProductionCenter | 13 | |
Number of wealth management offices | ManagementOffice | 3 | |
HSB Insurance, Inc. [Member] | ||
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | ||
Operations commenced date | Jun. 1, 2017 | |
OLCB [Member] | ||
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | ||
Acquisition date | Jan. 31, 2017 | |
Business acquisition, common shares issued | shares | 3,033,604 | |
Business acquisition, cash | $ | $ 20,379 |
Recent Accounting Development40
Recent Accounting Developments - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Accounting Standards Update 2016-09 [Member] | |
New Accounting Pronouncement Early Adoption [Line Items] | |
Recognized tax benefit in income tax expense related to vesting of restricted stock awards and exercised stock options | $ 300,000 |
Stock Compensation - Additional
Stock Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | Apr. 30, 2015 | Apr. 26, 2007 | |
Stock Option [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Shares, Granted | 0 | 0 | 0 | 0 | |||
Option expiry term (Years) | 10 years | ||||||
Stock-based compensation expense | $ 0 | $ 2,000 | $ 1,000 | $ 8,000 | |||
Expected additional expense for 2017 | $ 0 | $ 0 | |||||
Remaining unvested stock options | 0 | 0 | |||||
Weighted average remaining life for outstanding stock | 2 years 9 months 15 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 | $ 240,000 | 254,000 | $ 696,000 | 716,000 | |||
Expected additional expense for 2017 | $ 203,000 | $ 203,000 | |||||
Nonvested shares | 275,438 | 275,438 | 341,184 | ||||
Expected to vest shares during remainder of 2017 | 7,709 | ||||||
Expected to vest shares during 2018 | 129,044 | ||||||
Expected to vest shares during 2019 | 106,012 | ||||||
Expected to vest shares during 2020 | 32,673 | ||||||
Expected additional expense for 2018 | $ 581,000 | $ 581,000 | |||||
Expected additional expense for 2019 | 259,000 | 259,000 | |||||
Expected additional expense for 2020 | $ 60,000 | $ 60,000 | |||||
Total average per share fair value of shares vested | $ 8.52 | ||||||
2015 Long Term Incentive Compensation Plan [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Authorized shares of stock, option plan, maximum | 1,200,000 | ||||||
2007 Long-Term Incentive Plan [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Authorized shares of stock, option plan, maximum | 2,000,000 | ||||||
1999 Long-Term Incentive Plan [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Authorized shares of stock, option plan, maximum | 3,569,766 | 3,569,766 | |||||
Annual Incentive Plan [Member] | Restricted Stock [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 100,000 | 96,000 | $ 222,000 | 265,000 | |||
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 | 431,000 | 306,000 | $ 1,300,000 | 924,000 | |||
Long Term Incentive Plan [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 146,000 | $ 96,000 | $ 295,000 | $ 289,000 |
Stock Compensation - Summary of
Stock Compensation - Summary of Option Activity in Plans (Detail) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Shares, Outstanding at beginning of year | 371,218 |
Shares, Exercised | (80,085) |
Shares, Forfeited and expired | (600) |
Shares, Outstanding at end of period | 290,533 |
Shares, Shares subject to options exercisable at end of period | 290,533 |
Weighted average exercise price, Outstanding at beginning of year | $ 2.55 |
Weighted average exercise price, Exercised | 2.69 |
Weighted average exercise price, Forfeited and expired | 2.10 |
Weighted average exercise price, Outstanding at end of period | 2.51 |
Weighted average exercise price, Shares subject to options exercisable at end of period | $ 2.51 |
Aggregate intrinsic value, Outstanding at end of period | $ 2,061 |
Aggregate intrinsic value, Shares subject to options exercisable at end of period | $ 2,061 |
Stock Compensation - Informatio
Stock Compensation - Information Related to Stock Options (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Intrinsic value of options exercised | $ 487,000 | $ 631,000 |
Cash received from option exercises | 216,000 | $ 462,000 |
Tax benefit realized from option exercises | $ 170,523 |
Stock Compensation - Summary 44
Stock Compensation - Summary of Changes in Company's Nonvested Restricted Shares (Detail) - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2017$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Shares, Nonvested shares, Beginning balance | shares | 341,184 |
Shares, Granted | shares | 75,875 |
Shares, Vested | shares | (141,621) |
Shares, Nonvested shares, Ending balance | shares | 275,438 |
Weighted average grant date fair value, Nonvested shares, Beginning balance | $ / shares | $ 5.50 |
Weighted average grant date fair value, Granted | $ / shares | 8.60 |
Weighted average grant date fair value, Vested | $ / shares | 4.98 |
Weighted average grant date fair value, Nonvested shares, Ending balance | $ / shares | $ 6.63 |
Business Combination - Addition
Business Combination - Additional Information (Detail) - USD ($) | Jul. 01, 2017 | Feb. 28, 2017 | Jan. 31, 2017 | Sep. 30, 2017 |
Business Acquisition [Line Items] | ||||
Business acquisition, related costs | $ 4,962,000 | |||
United Community [Member] | ||||
Business Acquisition [Line Items] | ||||
Business acquisition, related costs | $ 4,100,000 | |||
OLCB [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition date | Jan. 31, 2017 | |||
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 were exchanged for 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 | $ 20,379,000 | |||
Business acquisition, related costs | $ 368,000 | |||
Gross value of acquired receivables | 2,600,000 | |||
Fair value of acquired receivables | 2,500,000 | |||
Deductible goodwill for income tax purposes | 0 | |||
Business acquisition, total consideration | 46,195,000 | |||
OLCB [Member] | Core Deposits [Member] | ||||
Business Acquisition [Line Items] | ||||
Fair value of intangible assets | $ 2,200,000 | |||
Eich Brothers Insurance [Member] | HSB Insurance, LLC [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition date | Feb. 28, 2017 | |||
Business acquisition, cash | $ 107,000 | |||
Business acquisition, remaining amount to be paid | 428,000 | |||
Business acquisition, equal installments | four equal installments | |||
Business acquisition, total consideration | 535,000 | |||
Business acquisition, total assets purchase | $ 722,000 | |||
Stevens Insurance [Member] | HSB Insurance, LLC [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition date | Jul. 1, 2017 | |||
Business acquisition, cash | $ 23,000 | |||
Business acquisition, remaining amount to be paid | 37,000 | |||
Business acquisition, equal installments | two equal installments | |||
Business acquisition, total consideration | 60,000 | |||
Business acquisition, total assets purchase | $ 81,000 |
Business Combination - Summary
Business Combination - Summary of Consideration Paid (Detail) - OLCB [Member] $ in Thousands | Jan. 31, 2017USD ($) |
Business Acquisition [Line Items] | |
Cash | $ 20,379 |
United Community shares issued | 25,816 |
Total fair value of consideration paid | $ 46,195 |
Business Combination - Schedule
Business Combination - Schedule of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Jan. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | |||
Goodwill created | $ 19,488 | $ 208 | |
OLCB [Member] | |||
Business Acquisition [Line Items] | |||
Cash | $ 46,159 | ||
Loans | 259,373 | ||
Available for sale securities | 9,996 | ||
FHLB stock, at cost | 1,256 | ||
Premises and equipment | 2,940 | ||
Accrued interest | 679 | ||
Other intangible assets | 2,426 | ||
Other real estate owned | 89 | ||
Other assets | 7,988 | ||
Total assets acquired | 330,906 | ||
Deposits assumed | 266,279 | ||
Federal Home Loan Bank advances | 23,500 | ||
Repurchase agreements and other borrowings | 10,771 | ||
Accrued expenses and other liabilities | 2,581 | ||
Total liabilities assumed | 303,131 | ||
Goodwill created | $ 18,420 |
Business Combination - Summar48
Business Combination - Summary of Pro Forma Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Business Combinations [Abstract] | ||
Net interest income | $ 61,185 | $ 55,595 |
Net income | $ 16,928 | $ 16,118 |
Basic earnings per share | $ 0.34 | $ 0.32 |
Diluted earnings per share | $ 0.34 | $ 0.32 |
Securities - Components of Avai
Securities - Components of Available for Sale Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | $ 275,000 | $ 348,099 |
Available-for-sale securities, Gross unrealized gains | 1,042 | 225 |
Available-for-sale securities, Gross unrealized losses | (1,220) | (5,040) |
Available-for-sale securities, Total fair value | 274,822 | 343,284 |
U.S. Treasury and Government Sponsored Entities' Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 125,153 | 188,082 |
Available-for-sale securities, Gross unrealized gains | 237 | 172 |
Available-for-sale securities, Gross unrealized losses | (330) | (2,221) |
Available-for-sale securities, Total fair value | 125,060 | 186,033 |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 58,959 | 59,415 |
Available-for-sale securities, Gross unrealized gains | 699 | 3 |
Available-for-sale securities, Gross unrealized losses | (466) | (1,661) |
Available-for-sale securities, Total fair value | 59,192 | 57,757 |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 90,888 | 100,602 |
Available-for-sale securities, Gross unrealized gains | 106 | 50 |
Available-for-sale securities, Gross unrealized losses | (424) | (1,158) |
Available-for-sale securities, Total fair value | $ 90,570 | $ 99,494 |
Securities - Components of Held
Securities - Components of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | $ 85,549 | $ 97,519 |
Held to maturity securities, Gross unrecognized gains | 94 | 17 |
Held to maturity securities, Gross unrecognized losses | (619) | (1,386) |
Held to maturity securities, Fair value | 85,024 | 96,150 |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | 76,314 | 85,065 |
Held to maturity securities, Gross unrecognized losses | (615) | (1,300) |
Held to maturity securities, Fair value | 75,699 | 83,765 |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | 9,235 | 12,454 |
Held to maturity securities, Gross unrecognized gains | 94 | 17 |
Held to maturity securities, Gross unrecognized losses | (4) | (86) |
Held to maturity securities, Fair value | $ 9,325 | $ 12,385 |
Securities - Debt Securities Av
Securities - Debt Securities Available for Sale by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Available For Sale Securities Debt Maturities [Abstract] | ||
Due after one year through five years, amortized cost | $ 14,556 | |
Due after five years through ten years, amortized cost | 111,011 | |
Due after ten years, amortized cost | 58,545 | |
Mortgage-backed GSE securities: residential, amortized cost | 90,888 | |
Total amortized cost | 275,000 | $ 348,099 |
Due after one year through five years, fair value | 14,570 | |
Due after five years through ten years, fair value | 110,912 | |
Due after ten years, fair value | 58,770 | |
Mortgage-backed GSE securities: residential, fair value | 90,570 | |
Total fair value | $ 274,822 | $ 343,284 |
Securities - Debt Securities He
Securities - Debt Securities Held to Maturity by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investments Debt And Equity Securities [Abstract] | ||
Due after five years through ten years, amortized cost | $ 7,285 | |
Due after ten years, amortized cost | 1,950 | |
Mortgage-backed GSE securities: residential, amortized cost | 76,314 | |
Held to maturity securities, Total amortized cost | 85,549 | $ 97,519 |
Due after five years through ten years, fair value | 7,357 | |
Due after ten years, fair value | 1,968 | |
Mortgage-backed GSE securities: residential, fair value | 75,699 | |
Held to maturity securities, Total fair value | $ 85,024 | $ 96,150 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Investments Debt And Equity Securities [Abstract] | ||||||
Securities pledged for public funds | $ 133,300,000 | $ 133,300,000 | $ 146,500,000 | |||
Available for sale securities transferred to held to maturity, total amortized cost | $ 105,300,000 | |||||
Available for sale securities transferred to held to maturity fair value | 103,800,000 | |||||
Net unrealized loss, net of taxes, on securities at date of transfer | $ (999,000) | |||||
Proceeds from the sale of securities available for sale | 9,700,000 | $ 5,200,000 | 62,906,000 | $ 33,702,000 | ||
Gross gains realized on sales of securities available for sale | 236,000 | 218,000 | 610,000 | 609,000 | ||
Gross loss realized on sales of securities available for sale | 0 | 0 | 44,000 | 0 | ||
Income tax expense related to net realized gains and losses | $ 83,000 | $ 76,000 | $ 198,000 | $ 211,000 |
Securities - Securities Availab
Securities - Securities Available for Sale in Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | $ 149,753 | $ 323,469 |
Unrealized loss, Less than 12 months | (1,037) | (5,040) |
Fair value, 12 months or more | 6,350 | |
Unrealized loss, 12 months or more | (183) | |
Total Fair value | 156,103 | 323,469 |
Total, unrealized loss | (1,220) | (5,040) |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 21,789 | 53,283 |
Unrealized loss, Less than 12 months | (283) | (1,661) |
Fair value, 12 months or more | 6,350 | |
Unrealized loss, 12 months or more | (183) | |
Total Fair value | 28,139 | 53,283 |
Total, unrealized loss | (466) | (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 | 59,316 | 171,411 |
Unrealized loss, Less than 12 months | (330) | (2,221) |
Total Fair value | 59,316 | 171,411 |
Total, unrealized loss | (330) | (2,221) |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 68,648 | 98,775 |
Unrealized loss, Less than 12 months | (424) | (1,158) |
Total Fair value | 68,648 | 98,775 |
Total, unrealized loss | $ (424) | $ (1,158) |
Securities - Securities Held to
Securities - Securities Held to Maturity in Unrecognized Loss Position (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Fair value, Less than 12 months | $ 49,852 | $ 64,756 |
Unrealized loss, Less than 12 months | (672) | (1,329) |
Fair value, 12 months or more | 27,390 | 26,426 |
Unrealized loss, 12 months or more | (1,027) | (1,287) |
Total fair value | 77,242 | 91,182 |
Total unrealized loss | (1,699) | (2,616) |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Fair value, Less than 12 months | 48,309 | 57,340 |
Unrealized loss, Less than 12 months | (668) | (1,243) |
Fair value, 12 months or more | 27,390 | 26,426 |
Unrealized loss, 12 months or more | (1,027) | (1,287) |
Total fair value | 75,699 | 83,766 |
Total unrealized loss | (1,695) | (2,530) |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Fair value, Less than 12 months | 1,543 | 7,416 |
Unrealized loss, Less than 12 months | (4) | (86) |
Total fair value | 1,543 | 7,416 |
Total unrealized loss | $ (4) | $ (86) |
Loans - Schedule of Portfolio o
Loans - Schedule of Portfolio of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | $ 1,963,712 | $ 1,519,477 | ||||
Allowance for loan losses | 20,555 | $ 19,660 | 19,087 | $ 18,234 | $ 17,172 | $ 17,712 |
Deferred loan costs, net | (4,538) | (3,187) | ||||
Total | 16,017 | 15,900 | ||||
Loans, net | 1,947,695 | 1,503,577 | ||||
Commercial Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 791,076 | 504,258 | ||||
Allowance for loan losses | 11,682 | 10,821 | 10,824 | 9,794 | 8,958 | 8,077 |
Commercial Loans [Member] | Multifamily [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 126,977 | 93,597 | ||||
Commercial Loans [Member] | Nonresidential [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 366,747 | 231,401 | ||||
Commercial Loans [Member] | Land [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 13,666 | 8,373 | ||||
Commercial Loans [Member] | Construction [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 108,105 | 68,158 | ||||
Commercial Loans [Member] | Secured [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 167,433 | 95,343 | ||||
Commercial Loans [Member] | Unsecured [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 8,148 | 7,386 | ||||
Residential Mortgage Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 908,944 | 798,621 | ||||
Allowance for loan losses | 6,046 | 5,968 | 5,538 | 5,766 | 5,644 | 6,630 |
Residential Mortgage Loans [Member] | Construction [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 57,081 | 35,695 | ||||
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 851,863 | 762,926 | ||||
Consumer Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 263,692 | 216,598 | ||||
Allowance for loan losses | 2,827 | $ 2,871 | 2,725 | $ 2,674 | $ 2,570 | $ 3,005 |
Consumer Loans [Member] | Home Equity [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 193,402 | 165,054 | ||||
Consumer Loans [Member] | Auto [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 56,883 | 39,609 | ||||
Consumer Loans [Member] | Marine [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 1,564 | 1,796 | ||||
Consumer Loans [Member] | Recreational Vehicle [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 6,249 | 7,602 | ||||
Consumer Loans [Member] | Other [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | $ 5,594 | $ 2,537 |
Loans - Investment in Loans by
Loans - Investment in Loans by Portfolio Segment and Based on Impairment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | $ 19,660 | $ 17,172 | $ 19,087 | $ 17,712 | |
Provision (recovery) for loan losses | 721 | 1,344 | 3,038 | 3,894 | |
Charge-offs | (586) | (921) | (2,891) | (4,615) | |
Recoveries | 760 | 639 | 1,321 | 1,243 | |
Allowance, Ending balance | 20,555 | 18,234 | 20,555 | 18,234 | |
Allowance, Loans individually evaluated for impairment | 1,596 | 2,874 | 1,596 | 2,874 | $ 3,016 |
Allowance, Loans collectively evaluated for impairment | 18,905 | 18,905 | 16,071 | ||
Period-end balances, Loans individually evaluated for impairment | 26,354 | 26,354 | 31,548 | ||
Period-end balances, Loans collectively evaluated for impairment | 1,936,154 | 1,936,154 | 1,487,929 | ||
Total loans | 1,963,712 | 1,963,712 | 1,519,477 | ||
Loans Acquired with Deteriorated Credit Quality [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Loans acquired with deteriorated credit quality | 54 | 54 | |||
Period-end balances, Loans acquired with deteriorated credit quality | 1,204 | 1,204 | |||
Commercial Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 10,821 | 8,958 | 10,824 | 8,077 | |
Provision (recovery) for loan losses | 512 | 842 | 1,537 | 4,055 | |
Charge-offs | (12) | (533) | (1,335) | (3,026) | |
Recoveries | 361 | 527 | 656 | 688 | |
Allowance, Ending balance | 11,682 | 9,794 | 11,682 | 9,794 | |
Allowance, Loans individually evaluated for impairment | 16 | 1,016 | 16 | 1,016 | 1,271 |
Allowance, Loans collectively evaluated for impairment | 11,612 | 11,612 | 9,553 | ||
Period-end balances, Loans individually evaluated for impairment | 2,322 | 2,322 | 6,018 | ||
Period-end balances, Loans collectively evaluated for impairment | 787,550 | 787,550 | 498,240 | ||
Total loans | 791,076 | 791,076 | 504,258 | ||
Commercial Loans [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Loans acquired with deteriorated credit quality | 54 | 54 | |||
Period-end balances, Loans acquired with deteriorated credit quality | 1,204 | 1,204 | |||
Residential Mortgage Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 5,968 | 5,644 | 5,538 | 6,630 | |
Provision (recovery) for loan losses | 369 | 268 | 1,234 | (359) | |
Charge-offs | (427) | (166) | (930) | (612) | |
Recoveries | 136 | 20 | 204 | 107 | |
Allowance, Ending balance | 6,046 | 5,766 | 6,046 | 5,766 | |
Allowance, Loans individually evaluated for impairment | 1,169 | 1,342 | 1,169 | 1,342 | 1,245 |
Allowance, Loans collectively evaluated for impairment | 4,877 | 4,877 | 4,293 | ||
Period-end balances, Loans individually evaluated for impairment | 16,718 | 16,718 | 17,485 | ||
Period-end balances, Loans collectively evaluated for impairment | 892,226 | 892,226 | 781,136 | ||
Total loans | 908,944 | 908,944 | 798,621 | ||
Consumer Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 2,871 | 2,570 | 2,725 | 3,005 | |
Provision (recovery) for loan losses | (160) | 234 | 267 | 198 | |
Charge-offs | (147) | (222) | (626) | (977) | |
Recoveries | 263 | 92 | 461 | 448 | |
Allowance, Ending balance | 2,827 | 2,674 | 2,827 | 2,674 | |
Allowance, Loans individually evaluated for impairment | 411 | $ 516 | 411 | $ 516 | 500 |
Allowance, Loans collectively evaluated for impairment | 2,416 | 2,416 | 2,225 | ||
Period-end balances, Loans individually evaluated for impairment | 7,314 | 7,314 | 8,045 | ||
Period-end balances, Loans collectively evaluated for impairment | 256,378 | 256,378 | 208,553 | ||
Total loans | $ 263,692 | $ 263,692 | $ 216,598 |
Loans - Presentation of Loans I
Loans - Presentation of Loans Individually Evaluated for Impairment by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | $ 14,485 | $ 23,413 | $ 14,485 | $ 23,413 | $ 22,728 |
With no specific allowance recorded, Recorded Investment | 8,325 | 11,613 | 8,325 | 11,613 | 10,444 |
With no specific allowance recorded, Average Recorded Investment | 9,021 | 12,239 | 9,268 | 12,282 | |
With no specific allowance recorded, Interest Income Recognized | 46 | 30 | 114 | 84 | |
With no specific allowance recorded, Cash Basis Income Recognized | 44 | 30 | 106 | 78 | |
With a specific allowance recorded, Unpaid Principal Balance | 18,290 | 31,204 | 18,290 | 31,204 | 24,114 |
With a specific allowance recorded, Recorded Investment | 18,029 | 28,640 | 18,029 | 28,640 | 21,104 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,596 | 2,874 | 1,596 | 2,874 | 3,016 |
With a specific allowance recorded, Average Recorded Investment | 17,314 | 28,704 | 18,746 | 28,757 | |
With a specific allowance recorded, Interest Income Recognized | 209 | 301 | 703 | 914 | |
With a specific allowance recorded, Cash Basis Income Recognized | 209 | 295 | 645 | 840 | |
Total Unpaid Principal Balance | 32,775 | 54,617 | 32,775 | 54,617 | 46,842 |
Total Recorded Investment | 26,354 | 40,253 | 26,354 | 40,253 | 31,548 |
Total Average Recorded Investment | 26,335 | 40,943 | 28,014 | 41,039 | |
Total Interest Income Recognized | 255 | 331 | 817 | 998 | |
Total Cash Basis Income Recognized | 253 | 325 | 751 | 918 | |
Commercial Loans [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 4,778 | 13,091 | 4,778 | 13,091 | 10,804 |
With no specific allowance recorded, Recorded Investment | 774 | 3,983 | 774 | 3,983 | 1,713 |
With no specific allowance recorded, Average Recorded Investment | 1,426 | 4,197 | 1,337 | 4,270 | |
With no specific allowance recorded, Interest Income Recognized | 4 | 1 | 10 | 11 | |
With no specific allowance recorded, Cash Basis Income Recognized | 4 | 1 | 10 | 11 | |
With a specific allowance recorded, Unpaid Principal Balance | 1,582 | 12,276 | 1,582 | 12,276 | 7,167 |
With a specific allowance recorded, Recorded Investment | 1,548 | 9,714 | 1,548 | 9,714 | 4,305 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 16 | 1,016 | 16 | 1,016 | 1,271 |
With a specific allowance recorded, Average Recorded Investment | 1,002 | 9,610 | 2,053 | 8,603 | |
With a specific allowance recorded, Interest Income Recognized | 26 | 84 | 86 | 208 | |
With a specific allowance recorded, Cash Basis Income Recognized | 26 | 84 | 85 | 206 | |
Commercial Loans [Member] | Multifamily [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 466 | 59 | 466 | 59 | 55 |
With no specific allowance recorded, Recorded Investment | 402 | 402 | |||
With no specific allowance recorded, Average Recorded Investment | 408 | 309 | |||
With no specific allowance recorded, Interest Income Recognized | 3 | ||||
With no specific allowance recorded, Cash Basis Income Recognized | 3 | ||||
Commercial Loans [Member] | Nonresidential [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 673 | 952 | 673 | 952 | 2,278 |
With no specific allowance recorded, Recorded Investment | 153 | 149 | 153 | 149 | 1,489 |
With no specific allowance recorded, Average Recorded Investment | 809 | 238 | 818 | 248 | |
With no specific allowance recorded, Interest Income Recognized | 3 | 1 | 6 | 4 | |
With no specific allowance recorded, Cash Basis Income Recognized | 3 | 1 | 6 | 4 | |
With a specific allowance recorded, Unpaid Principal Balance | 1,582 | 11,660 | 1,582 | 11,660 | 6,930 |
With a specific allowance recorded, Recorded Investment | 1,548 | 9,164 | 1,548 | 9,164 | 4,133 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 16 | 935 | 16 | 935 | 1,193 |
With a specific allowance recorded, Average Recorded Investment | 1,002 | 8,868 | 2,010 | 7,911 | |
With a specific allowance recorded, Interest Income Recognized | 26 | 84 | 86 | 208 | |
With a specific allowance recorded, Cash Basis Income Recognized | 26 | 84 | 85 | 206 | |
Commercial Loans [Member] | Land [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 715 | 3,922 | 715 | 3,922 | 3,922 |
With no specific allowance recorded, Recorded Investment | 9 | 134 | 9 | 134 | 34 |
With no specific allowance recorded, Average Recorded Investment | 9 | 259 | 15 | 322 | |
Commercial Loans [Member] | Construction [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 2,467 | 3,594 | 2,467 | 3,594 | 3,594 |
Commercial Loans [Member] | Secured [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 263 | 3,743 | 263 | 3,743 | 242 |
With no specific allowance recorded, Recorded Investment | 210 | 3,700 | 210 | 3,700 | 190 |
With no specific allowance recorded, Average Recorded Investment | 200 | 3,700 | 195 | 3,700 | |
With no specific allowance recorded, Interest Income Recognized | 1 | 1 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 1 | 1 | |||
With a specific allowance recorded, Unpaid Principal Balance | 616 | 616 | 237 | ||
With a specific allowance recorded, Recorded Investment | 550 | 550 | 172 | ||
With a specific allowance recorded, Allowance for Loan Losses Allocated | 81 | 81 | 78 | ||
With a specific allowance recorded, Average Recorded Investment | 742 | 43 | 692 | ||
Commercial Loans [Member] | Unsecured [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 194 | 821 | 194 | 821 | 713 |
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 | 6,793 | 7,401 | 6,793 | 7,401 | 8,736 |
With no specific allowance recorded, Recorded Investment | 5,814 | 5,727 | 5,814 | 5,727 | 6,758 |
With no specific allowance recorded, Average Recorded Investment | 5,788 | 6,125 | 6,025 | 6,049 | |
With no specific allowance recorded, Interest Income Recognized | 35 | 19 | 81 | 55 | |
With no specific allowance recorded, Cash Basis Income Recognized | 33 | 19 | 73 | 49 | |
With a specific allowance recorded, Unpaid Principal Balance | 11,042 | 12,123 | 11,042 | 12,123 | 10,810 |
With a specific allowance recorded, Recorded Investment | 10,904 | 12,121 | 10,904 | 12,121 | 10,727 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,169 | 1,342 | 1,169 | 1,342 | 1,245 |
With a specific allowance recorded, Average Recorded Investment | 10,666 | 12,077 | 10,799 | 12,587 | |
With a specific allowance recorded, Interest Income Recognized | 112 | 132 | 385 | 423 | |
With a specific allowance recorded, Cash Basis Income Recognized | 112 | 127 | 343 | 373 | |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 6,793 | 7,401 | 6,793 | 7,401 | 8,736 |
With no specific allowance recorded, Recorded Investment | 5,814 | 5,727 | 5,814 | 5,727 | 6,758 |
With no specific allowance recorded, Average Recorded Investment | 5,788 | 6,125 | 6,025 | 6,049 | |
With no specific allowance recorded, Interest Income Recognized | 35 | 19 | 81 | 55 | |
With no specific allowance recorded, Cash Basis Income Recognized | 33 | 19 | 73 | 49 | |
With a specific allowance recorded, Unpaid Principal Balance | 11,042 | 12,123 | 11,042 | 12,123 | 10,810 |
With a specific allowance recorded, Recorded Investment | 10,904 | 12,121 | 10,904 | 12,121 | 10,727 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,169 | 1,342 | 1,169 | 1,342 | 1,245 |
With a specific allowance recorded, Average Recorded Investment | 10,666 | 12,077 | 10,799 | 12,587 | |
With a specific allowance recorded, Interest Income Recognized | 112 | 132 | 385 | 423 | |
With a specific allowance recorded, Cash Basis Income Recognized | 112 | 127 | 343 | 373 | |
Consumer Loans [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 2,914 | 2,921 | 2,914 | 2,921 | 3,188 |
With no specific allowance recorded, Recorded Investment | 1,737 | 1,903 | 1,737 | 1,903 | 1,973 |
With no specific allowance recorded, Average Recorded Investment | 1,807 | 1,917 | 1,906 | 1,963 | |
With no specific allowance recorded, Interest Income Recognized | 7 | 10 | 23 | 18 | |
With no specific allowance recorded, Cash Basis Income Recognized | 7 | 10 | 23 | 18 | |
With a specific allowance recorded, Unpaid Principal Balance | 5,666 | 6,805 | 5,666 | 6,805 | 6,137 |
With a specific allowance recorded, Recorded Investment | 5,577 | 6,805 | 5,577 | 6,805 | 6,072 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 411 | 516 | 411 | 516 | 500 |
With a specific allowance recorded, Average Recorded Investment | 5,646 | 7,017 | 5,894 | 7,567 | |
With a specific allowance recorded, Interest Income Recognized | 71 | 85 | 232 | 283 | |
With a specific allowance recorded, Cash Basis Income Recognized | 71 | 84 | 217 | 261 | |
Consumer Loans [Member] | Home Equity [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 1,556 | 1,728 | 1,556 | 1,728 | 2,159 |
With no specific allowance recorded, Recorded Investment | 1,177 | 1,272 | 1,177 | 1,272 | 1,583 |
With no specific allowance recorded, Average Recorded Investment | 1,356 | 1,306 | 1,477 | 1,415 | |
With no specific allowance recorded, Interest Income Recognized | 4 | 9 | 11 | 14 | |
With no specific allowance recorded, Cash Basis Income Recognized | 4 | 9 | 11 | 14 | |
With a specific allowance recorded, Unpaid Principal Balance | 5,132 | 5,997 | 5,132 | 5,997 | 5,390 |
With a specific allowance recorded, Recorded Investment | 5,055 | 5,997 | 5,055 | 5,997 | 5,335 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 387 | 435 | 387 | 435 | 426 |
With a specific allowance recorded, Average Recorded Investment | 4,987 | 6,138 | 5,173 | 6,592 | |
With a specific allowance recorded, Interest Income Recognized | 65 | 77 | 214 | 257 | |
With a specific allowance recorded, Cash Basis Income Recognized | 65 | 76 | 199 | 238 | |
Consumer Loans [Member] | Auto [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 8 | 13 | 8 | 13 | 11 |
With no specific allowance recorded, Recorded Investment | 1 | 8 | 1 | 8 | 3 |
With no specific allowance recorded, Average Recorded Investment | 10 | 9 | 9 | 10 | |
Consumer Loans [Member] | Marine [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 540 | 543 | 540 | 543 | 585 |
With no specific allowance recorded, Recorded Investment | 169 | 301 | 169 | 301 | 267 |
With no specific allowance recorded, Average Recorded Investment | 169 | 302 | 200 | 294 | |
With a specific allowance recorded, Unpaid Principal Balance | 102 | 153 | 102 | 153 | 108 |
With a specific allowance recorded, Recorded Investment | 102 | 153 | 102 | 153 | 108 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1 | 4 | 1 | 4 | 1 |
With a specific allowance recorded, Average Recorded Investment | 103 | 155 | 105 | 158 | |
With a specific allowance recorded, Interest Income Recognized | 1 | 2 | 4 | 6 | |
With a specific allowance recorded, Cash Basis Income Recognized | 1 | 2 | 4 | 4 | |
Consumer Loans [Member] | Recreational Vehicle [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 809 | 637 | 809 | 637 | 433 |
With no specific allowance recorded, Recorded Investment | 389 | 322 | 389 | 322 | 120 |
With no specific allowance recorded, Average Recorded Investment | 271 | 298 | 220 | 241 | |
With no specific allowance recorded, Interest Income Recognized | 3 | 1 | 12 | 4 | |
With no specific allowance recorded, Cash Basis Income Recognized | 3 | 1 | 12 | 4 | |
With a specific allowance recorded, Unpaid Principal Balance | 432 | 655 | 432 | 655 | 639 |
With a specific allowance recorded, Recorded Investment | 420 | 655 | 420 | 655 | 629 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 23 | 77 | 23 | 77 | $ 73 |
With a specific allowance recorded, Average Recorded Investment | 556 | 724 | 616 | 815 | |
With a specific allowance recorded, Interest Income Recognized | 5 | 6 | 14 | 20 | |
With a specific allowance recorded, Cash Basis Income Recognized | 5 | 6 | 14 | 19 | |
Consumer Loans [Member] | Other [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 1 | 1 | |||
With no specific allowance recorded, Recorded Investment | 1 | $ 1 | |||
With no specific allowance recorded, Average Recorded Investment | $ 1 | $ 2 | 3 | ||
With a specific allowance recorded, Average Recorded Investment | $ 2 |
Loans - Loans in Process of For
Loans - Loans in Process of Foreclosure (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | $ 32,775 | $ 46,842 | $ 54,617 |
Total Recorded Investment | 26,354 | 31,548 | |
Residential Mortgage Loans [Member] | Loans In Process Of Foreclosure [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 2,975 | 3,025 | |
Total Recorded Investment | 2,805 | 2,576 | |
Consumer Loans [Member] | Loans In Process Of Foreclosure [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 955 | 1,069 | |
Total Recorded Investment | $ 798 | $ 795 |
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 | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 10,838 | $ 12,439 |
Financing receivable, recorded investment, Loans past due over 90 days and still accruing | 8 | |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 1,879 | 3,941 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 402 | |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 1,234 | 3,546 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 9 | 34 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 234 | 361 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 6,627 | 6,084 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 6,627 | 6,084 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 2,332 | 2,414 |
Financing receivable, recorded investment, Loans past due over 90 days and still accruing | 8 | |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 1,714 | 1,936 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 38 | 31 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 169 | 267 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 409 | 178 |
Financing receivable, recorded investment, Loans past due over 90 days and still accruing | 6 | |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 2 | $ 2 |
Financing receivable, recorded investment, Loans past due over 90 days and still accruing | $ 2 |
Loans - Presentation of Age Ana
Loans - Presentation of Age Analysis of Past-Due Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 16,106 | $ 18,871 |
Current Loans | 1,947,606 | 1,500,606 |
Total loans | 1,963,712 | 1,519,477 |
30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 5,486 | 8,488 |
60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,970 | 2,525 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 7,650 | 7,858 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,213 | 3,967 |
Current Loans | 788,863 | 500,291 |
Total loans | 791,076 | 504,258 |
Commercial Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 363 | 3,511 |
Commercial Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,220 | |
Commercial Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 630 | 456 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 402 | |
Current Loans | 126,575 | 93,597 |
Total loans | 126,977 | 93,597 |
Commercial Loans [Member] | Multifamily [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 402 | |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,417 | 3,572 |
Current Loans | 365,330 | 227,829 |
Total loans | 366,747 | 231,401 |
Commercial Loans [Member] | Nonresidential [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 206 | 3,511 |
Commercial Loans [Member] | Nonresidential [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,204 | |
Commercial Loans [Member] | Nonresidential [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 7 | 61 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 9 | 34 |
Current Loans | 13,657 | 8,339 |
Total loans | 13,666 | 8,373 |
Commercial Loans [Member] | Land [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 9 | 34 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 108,105 | 68,158 |
Total loans | 108,105 | 68,158 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 385 | 361 |
Current Loans | 167,048 | 94,982 |
Total loans | 167,433 | 95,343 |
Commercial Loans [Member] | Secured [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 157 | |
Commercial Loans [Member] | Secured [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 16 | |
Commercial Loans [Member] | Secured [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 212 | 361 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 8,148 | 7,386 |
Total loans | 8,148 | 7,386 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 9,959 | 10,952 |
Current Loans | 898,985 | 787,669 |
Total loans | 908,944 | 798,621 |
Residential Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,588 | 3,774 |
Residential Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,305 | 1,717 |
Residential Mortgage Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 5,066 | 5,461 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 57,081 | 35,695 |
Total loans | 57,081 | 35,695 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 9,959 | 10,952 |
Current Loans | 841,904 | 751,974 |
Total loans | 851,863 | 762,926 |
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 | 3,588 | 3,774 |
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 | 1,305 | 1,717 |
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 | 5,066 | 5,461 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,934 | 3,952 |
Current Loans | 259,758 | 212,646 |
Total loans | 263,692 | 216,598 |
Consumer Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,535 | 1,203 |
Consumer Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 445 | 808 |
Consumer Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,954 | 1,941 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,685 | 3,068 |
Current Loans | 190,717 | 161,986 |
Total loans | 193,402 | 165,054 |
Consumer Loans [Member] | Home Equity [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,026 | 941 |
Consumer Loans [Member] | Home Equity [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 192 | 458 |
Consumer Loans [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,467 | 1,669 |
Consumer Loans [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 230 | 133 |
Current Loans | 56,653 | 39,476 |
Total loans | 56,883 | 39,609 |
Consumer Loans [Member] | Automobile [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 137 | 130 |
Consumer Loans [Member] | Automobile [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 76 | |
Consumer Loans [Member] | Automobile [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 17 | 3 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 182 | 267 |
Current Loans | 1,382 | 1,529 |
Total loans | 1,564 | 1,796 |
Consumer Loans [Member] | Marine [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 13 | |
Consumer Loans [Member] | Marine [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 169 | 267 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 819 | 478 |
Current Loans | 5,430 | 7,124 |
Total loans | 6,249 | 7,602 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 357 | 131 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 164 | 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 | 298 | |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 18 | 6 |
Current Loans | 5,576 | 2,531 |
Total loans | 5,594 | 2,537 |
Consumer Loans [Member] | Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2 | 1 |
Consumer Loans [Member] | Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 13 | 3 |
Consumer Loans [Member] | Other [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 3 | $ 2 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Allowance for loan losses | $ 20,555,000 | $ 18,234,000 | $ 20,555,000 | $ 18,234,000 | $ 19,660,000 | $ 19,087,000 | $ 17,172,000 | $ 17,712,000 |
Amounts charged off | 586,000 | 921,000 | $ 2,891,000 | $ 4,615,000 | ||||
Troubled debt restructuring period past due considered payment default | 30 days | |||||||
Period of cumulative homogeneous loans past due included in company analysis | 90 days | |||||||
Purchased Credit Impaired Loans [Member] | ||||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Allowance for loan losses | 54,000,000 | $ 54,000,000 | ||||||
Increment in allowance for loan losses | 54,000 | 54,000 | ||||||
Troubled Debt Restructuring [Member] | ||||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Recorded investment in trouble debt restructuring | 21,300,000 | 21,300,000 | 26,600,000 | |||||
Allowance for loan losses | 1,600,000 | 1,600,000 | 3,000,000 | |||||
Commitment to lend additional amounts | 37,000 | 37,000 | $ 31,000 | |||||
Increment in allowance for loan losses | 0 | 20,000 | 6,000 | $ 31,000 | ||||
Amounts charged off | 0 | 0 | 0 | 0 | ||||
TDRs with Subsequent Default [Member] | ||||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Increment in allowance for loan losses | 0 | 0 | 0 | 0 | ||||
Amounts charged off | $ 0 | $ 0 | $ 0 | $ 0 |
Loans - Loans by Class Modified
Loans - Loans by Class Modified as Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017USD ($)Loan | Sep. 30, 2016USD ($)Loan | Sep. 30, 2017USD ($)Loan | Sep. 30, 2016USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 2 | 3 | 10 |
Pre-Modification Outstanding Recorded Investment | $ 147 | $ 1,484 | $ 337 | $ 6,018 |
Post-Modification Recorded Investment | $ 169 | $ 1,491 | $ 368 | $ 6,048 |
Commercial Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 1,371 | $ 5,459 | ||
Post-Modification Recorded Investment | $ 1,377 | $ 5,465 | ||
Commercial Loans [Member] | Nonresidential [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 1,371 | $ 5,459 | ||
Post-Modification Recorded Investment | $ 1,377 | $ 5,465 | ||
Residential Mortgage Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 1 | 2 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 147 | $ 113 | $ 222 | $ 429 |
Post-Modification Recorded Investment | $ 169 | $ 114 | $ 253 | $ 449 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 1 | 2 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 147 | $ 113 | $ 222 | $ 429 |
Post-Modification Recorded Investment | $ 169 | $ 114 | $ 253 | $ 449 |
Consumer Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 115 | $ 130 | ||
Post-Modification Recorded Investment | $ 115 | $ 134 | ||
Consumer Loans [Member] | Home Equity [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 3 | |||
Pre-Modification Outstanding Recorded Investment | $ 130 | |||
Post-Modification Recorded Investment | $ 134 | |||
Consumer Loans [Member] | Recreational Vehicle [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 115 | |||
Post-Modification Recorded Investment | $ 115 |
Loans - Loans by Class Modifi64
Loans - Loans by Class Modified as Troubled Debt Restructurings with Payment Default (Detail) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017USD ($)Loan | Sep. 30, 2016USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 2 | 1 |
Recorded Investment | $ | $ 209 | $ 4 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 1 | 1 |
Recorded Investment | $ | $ 162 | $ 4 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 1 | 1 |
Recorded Investment | $ | $ 162 | $ 4 |
Consumer Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 1 | |
Recorded Investment | $ | $ 47 | |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 1 | |
Recorded Investment | $ | $ 47 |
Loans - Risk Category of Loans
Loans - Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 1,963,712 | $ 1,519,477 |
Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,909,047 | 1,485,074 |
Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,739 | 13,126 |
Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 46,926 | 21,277 |
Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 46,926 | 21,277 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 791,076 | 504,258 |
Commercial Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 747,677 | 480,216 |
Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,970 | 13,021 |
Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 36,429 | 11,021 |
Commercial Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 36,429 | 11,021 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 126,977 | 93,597 |
Commercial Loans [Member] | Multifamily [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 124,441 | 89,468 |
Commercial Loans [Member] | Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,975 | 3,564 |
Commercial Loans [Member] | Multifamily [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 561 | 565 |
Commercial Loans [Member] | Multifamily [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 561 | 565 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 366,747 | 231,401 |
Commercial Loans [Member] | Nonresidential [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 355,846 | 217,204 |
Commercial Loans [Member] | Nonresidential [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,171 | 6,037 |
Commercial Loans [Member] | Nonresidential [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,730 | 8,160 |
Commercial Loans [Member] | Nonresidential [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,730 | 8,160 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,666 | 8,373 |
Commercial Loans [Member] | Land [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,657 | 8,339 |
Commercial Loans [Member] | Land [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9 | 34 |
Commercial Loans [Member] | Land [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9 | 34 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 108,105 | 68,158 |
Commercial Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 107,702 | 68,158 |
Commercial Loans [Member] | Construction [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 403 | |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 167,433 | 95,343 |
Commercial Loans [Member] | Secured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 137,977 | 89,756 |
Commercial Loans [Member] | Secured [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,421 | 3,420 |
Commercial Loans [Member] | Secured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 28,035 | 2,167 |
Commercial Loans [Member] | Secured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 28,035 | 2,167 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,148 | 7,386 |
Commercial Loans [Member] | Unsecured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,054 | 7,291 |
Commercial Loans [Member] | Unsecured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 94 | 95 |
Commercial Loans [Member] | Unsecured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 94 | 95 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 908,944 | 798,621 |
Residential Mortgage Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 900,009 | 790,691 |
Residential Mortgage Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 769 | 104 |
Residential Mortgage Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,166 | 7,826 |
Residential Mortgage Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,166 | 7,826 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 57,081 | 35,695 |
Residential Mortgage Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 57,081 | 35,695 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 851,863 | 762,926 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 842,928 | 754,996 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 769 | 104 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,166 | 7,826 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,166 | 7,826 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 263,692 | 216,598 |
Consumer Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 261,361 | 214,167 |
Consumer Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1 | |
Consumer Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,331 | 2,430 |
Consumer Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,331 | 2,430 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 193,402 | 165,054 |
Consumer Loans [Member] | Home Equity [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 191,689 | 163,101 |
Consumer Loans [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,713 | 1,953 |
Consumer Loans [Member] | Home Equity [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,713 | 1,953 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 56,883 | 39,609 |
Consumer Loans [Member] | Auto [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 56,845 | 39,577 |
Consumer Loans [Member] | Auto [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1 | |
Consumer Loans [Member] | Auto [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 38 | 31 |
Consumer Loans [Member] | Auto [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 38 | 31 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,564 | 1,796 |
Consumer Loans [Member] | Marine [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,395 | 1,530 |
Consumer Loans [Member] | Marine [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 169 | 266 |
Consumer Loans [Member] | Marine [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 169 | 266 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,249 | 7,602 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,840 | 7,424 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 409 | 178 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 409 | 178 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,594 | 2,537 |
Consumer Loans [Member] | Other [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,592 | 2,535 |
Consumer Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2 | 2 |
Consumer Loans [Member] | Other [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 2 | $ 2 |
Loans - Schedule of Purchased C
Loans - Schedule of Purchased Credit Impaired Loans for which Payments Would Not be Collected (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Impaired [Line Items] | ||
Total loans | $ 1,963,712 | $ 1,519,477 |
Purchased credit impairment loans, Net carrying amount | 1,947,695 | 1,503,577 |
Commercial Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total loans | 791,076 | 504,258 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total loans | 908,944 | 798,621 |
Consumer Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total loans | 263,692 | $ 216,598 |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total loans | 1,204 | |
Purchased credit impairment loans, Net carrying amount | 1,150 | |
Purchased Credit Impaired Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total loans | $ 1,204 |
Loans - Schedule of Purchased67
Loans - Schedule of Purchased Credit Impaired Loans for which Payments Would Not be Collected (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable Impaired [Line Items] | ||||||
Allowance for loan losses | $ 20,555 | $ 19,660 | $ 19,087 | $ 18,234 | $ 17,172 | $ 17,712 |
Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Allowance for loan losses | $ 54,000 |
Loans - Accretable Yield or Inc
Loans - Accretable Yield or Income Expected to be Collected (Detail) - Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Financing Receivable Impaired [Line Items] | ||
Beginning of period | $ 116 | |
New loans purchased | $ 158 | |
Accretion of income | 12 | 54 |
Ending Balance | $ 104 | $ 104 |
Loans - Schedule of Purchased69
Loans - Schedule of Purchased Credit Impaired Loans Acquired at Acquitision (Detail) - Purchased Credit Impaired Loans [Member] $ in Thousands | Sep. 30, 2017USD ($) |
Financing Receivable Impaired [Line Items] | |
Contractually required payments receivable of loans purchased during the year | $ 4,499 |
Cash flow expected to be collected at acquisition | 1,955 |
Fair value of acquired loans at acquisition | 1,797 |
Commercial Loans [Member] | |
Financing Receivable Impaired [Line Items] | |
Contractually required payments receivable of loans purchased during the year | $ 4,499 |
Loans - Carrying Amount of Purc
Loans - Carrying Amount of Purchased Credit Impaired Loans (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Financing Receivable Impaired [Line Items] | ||
Beginning Balance | $ 1,519,477 | |
Loans purchased during the year | 45,350 | $ 33,203 |
Ending Balance | 1,963,712 | |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Loans purchased during the year | 1,797 | |
Ending Balance | $ 1,204 |
Mortgage Banking Activities - A
Mortgage Banking Activities - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Mortgage Loan Activity [Line Items] | |||
Mortgage loans serviced for others | $ 1,200,000 | $ 1,200,000 | |
Fair value of mortgage servicing rights | 10,500 | 10,200 | |
Private Investor [Member] | |||
Mortgage Loan Activity [Line Items] | |||
Mortgage loans serviced for others | 26,350 | ||
Private Investor [Member] | Adjustable Rate Residential Mortgages [Member] | One-to Four-Family [Member] | |||
Mortgage Loan Activity [Line Items] | |||
Mortgage loans serviced for others | $ 27,900 | ||
Percentage of mortgage service release premium as part of gain recognized on sale | 0.45% | ||
FHLMC, FNMA and Private Investor [Member] | |||
Mortgage Loan Activity [Line Items] | |||
Customer escrow balances | $ 9,200 | $ 14,300 |
Mortgage Banking Activities - P
Mortgage Banking Activities - Principal Balances of Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 1,200,000 | $ 1,200,000 |
FHLMC [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | 979,546 | 956,278 |
FNMA [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | 235,246 | $ 208,114 |
Private Investor [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 26,350 |
Mortgage Banking Activities - C
Mortgage Banking Activities - Capitalized Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2015 | |
Mortgage Banking [Abstract] | |||||||
Balance, beginning of period | $ 6,161 | $ 5,813 | $ 6,070 | $ 5,686 | |||
Originations | 793 | 708 | 1,819 | 1,870 | |||
Amortized to expense | (491) | (525) | (1,426) | (1,560) | |||
Balance, end of period | 6,463 | 5,996 | 6,463 | 5,996 | |||
Less valuation allowance | (15) | (741) | (15) | (741) | $ (5) | $ (766) | $ (39) |
Net balance | $ 6,448 | $ 5,255 | $ 6,448 | $ 5,255 |
Mortgage Banking Activities - V
Mortgage Banking Activities - Valuation Allowance for Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Mortgage Banking [Abstract] | ||||
Balance, beginning of period | $ (5) | $ (766) | $ (39) | |
Impairment charges | (10) | $ (15) | (727) | |
Recoveries | 25 | 25 | ||
Balance, end of period | $ (15) | $ (741) | $ (15) | $ (741) |
Mortgage Banking Activities - K
Mortgage Banking Activities - Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Mortgage Banking [Abstract] | ||
Weighted average prepayment rate | 187.00% | 165.00% |
Weighted average life (in years) | 6 years 2 months 20 days | 6 years 7 months 20 days |
Weighted average discount rate | 9.00% | 9.00% |
Other Real Estate Owned and O76
Other Real Estate Owned and Other Repossessed Assets - Real Estate Owned and Other Repossessed Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Other Real Estate And Foreclosed Assets [Abstract] | ||||||
Real estate owned and other repossessed assets | $ 1,566 | $ 2,789 | ||||
Valuation allowance | (423) | $ (389) | (1,012) | $ (1,003) | $ (1,001) | $ (1,229) |
End of period | $ 1,143 | $ 1,777 |
Other Real Estate Owned and O77
Other Real Estate Owned and Other Repossessed Assets - Valuation Allowance Related to Real Estate Owned (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Other Real Estate And Foreclosed Assets [Abstract] | ||||
Beginning of period | $ 389,000 | $ 1,001,000 | $ 1,012,000 | $ 1,229,000 |
Amounts charged to (recovery of) expense | 53,000 | 1,000 | 15,000 | (25,000) |
Reductions due to sales | (19,000) | 1,000 | (604,000) | (201,000) |
End of period | $ 423,000 | $ 1,003,000 | $ 423,000 | $ 1,003,000 |
Other Real Estate Owned and O78
Other Real Estate Owned and Other Repossessed Assets - Expenses Related to Foreclosed and Repossessed Assets (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Other Real Estate And Foreclosed Assets [Abstract] | ||||
Net loss (gains) on sales | $ 20,000 | $ (1,000) | $ 128,000 | $ 101,000 |
Provision for unrealized (gains) losses , net | 53,000 | 1,000 | 15,000 | (25,000) |
Operating expenses, net of rental income | 33,000 | 41,000 | 118,000 | 190,000 |
Total expenses | $ 106,000 | $ 41,000 | $ 261,000 | $ 266,000 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
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 | |||
Fair value of the collateral dependent loans, net carrying amount | $ 1,200,000 | $ 7,700,000 | 1,200,000 | $ 7,700,000 | 4,000,000 |
Specific allowance for collateral dependent loans | 42,000 | 989,000 | $ 42,000 | 989,000 | 1,300,000 |
Discount applied to appraisals for estimated selling costs percentage | 10.00% | ||||
Mortgage servicing rights carried at fair value, valuation allowance net change during the period | $ 15,000 | 741,000 | |||
Net impairment (recovery) reflected in other income | 10,000 | (25,000) | 15,000 | 702,000 | |
Other real estate owned carried at fair value | 580,000 | 1,000,000 | 580,000 | 1,000,000 | 1,000,000 |
Valuation allowance related to other real estate owned | 423,000 | 1,000,000 | 423,000 | 1,000,000 | 1,000,000 |
Other real estate owned expense (recovery) | 53,000 | 1,000 | $ 15,000 | (25,000) | |
Maximum maturity period of short term borrowings | 90 days | ||||
Collateral Dependent Loans [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Increase (decrease) in provision for loan losses | 92,000 | 134,000 | $ 571,000 | 3,700,000 | |
Mortgage Servicing Rights [Member] | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Mortgage servicing rights carried at fair value | 125,000 | $ 3,300,000 | 125,000 | $ 3,300,000 | |
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 | $ 0 | $ 0 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | $ 274,822 | $ 343,284 |
Loans held for sale, at fair value | 84,349 | 62,593 |
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 | 84,349 | 62,593 |
Purchased certificate of deposit option | 823 | 882 |
Written certificate of deposit option | 823 | 882 |
Fair Value, Measurements, Recurring [Member] | U.S. 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 | 125,060 | 186,033 |
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 | 59,192 | 57,757 |
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 | 90,570 | 99,494 |
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 | 14,111 | 8,832 |
Purchased certificate of deposit option | 823 | 882 |
Written certificate of deposit option | 823 | 882 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. 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 | 125,060 | 186,033 |
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 | 59,192 | 57,757 |
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 | 90,570 | 99,494 |
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 | $ 70,238 | $ 53,761 |
Fair Value Measurement - Reconc
Fair Value Measurement - Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Included in change in fair value of loans held for sale | $ 3,988 | $ 2,205 | ||
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 | $ 69,995 | $ 33,605 | 53,761 | 26,716 |
Included in change in fair value of loans held for sale | 1,145 | 414 | 3,557 | 1,705 |
Included in other comprehensive income | 0 | |||
Originations/Draws on construction perm loans | 28,864 | 25,464 | 80,109 | 60,925 |
Amortization | 0 | |||
Sales | (29,766) | (12,347) | (67,189) | (42,210) |
Balance of recurring Level 3 assets at end of period | $ 70,238 | $ 47,136 | $ 70,238 | $ 47,136 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | $ 84,349 | $ 62,593 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | 84,349 | 62,593 |
Fair Value, Measurements, Recurring [Member] | Comparable Sales [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | $ 70,238 | $ 53,761 |
Fair Value, Measurements, Recurring [Member] | Minimum [Member] | Comparable Sales [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Time discount | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Maximum [Member] | Comparable Sales [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Time discount | 1.80% | 1.80% |
Fair Value Measurement - Asse83
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Non-recurring Basis (Detail) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Mortgage Servicing Rights [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Mortgage servicing rights | $ 125,000 | $ 3,300,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Multifamily [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 443,000 | ||
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 | 92,000 | $ 228,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Marine [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 169,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Mortgage Servicing Rights [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Mortgage servicing rights | 125,000 | ||
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 | 443,000 | 748,000 | |
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 | ||
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] | Auto [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 177,000 | ||
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 | ||
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 | 536,000 | 919,000 | |
Other real estate owned, net | 136,000 | 281,000 | |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Mortgage Servicing Rights [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Mortgage servicing rights | 125,000 | ||
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multifamily [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 443,000 | ||
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 | 92,000 | 228,000 | |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Marine [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 169,000 | ||
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 | 443,000 | 748,000 | |
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 | ||
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] | Auto [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 177,000 | ||
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] | 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 | 536,000 | 919,000 | |
Other real estate owned, net | $ 136,000 | $ 281,000 |
Fair Value Measurement - Quan84
Fair Value Measurement - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Impaired Loans [Member] | Multifamily [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 443 | |
Impaired Loans [Member] | Multifamily [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] | Multifamily [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% | |
Impaired Loans [Member] | Multifamily [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% | |
Impaired Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 92 | $ 228 |
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] | Marine [Member] | Consumer Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 169 | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 37.00% | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 37.00% | |
Impaired Loans [Member] | Nonresidential [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 2,257 | |
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% | |
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% | |
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% | |
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] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 536 | $ 919 |
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] | Construction [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 443 | $ 748 |
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 | 80.00% | 90.40% |
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 | 24.03% | 27.46% |
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 | $ 136 | $ 281 |
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 | 0.00% | 27.00% |
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 | 0.00% | 7.74% |
Fair Value Measurement - Fair V
Fair Value Measurement - Fair Value Option for Newly Originated Residential Mortgage and Permanent Construction Loans Held for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Aggregate fair value | $ 84,349 | $ 62,593 |
Construction [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Aggregate fair value | 84,349 | 62,593 |
Contractual balance | 80,611 | 62,843 |
Gain (loss) | $ 3,738 | $ (250) |
Fair Value Measurement - Amount
Fair Value Measurement - Amount of Gains and Losses from Changes in Fair Value Included in Earnings (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||
Change in fair value | $ 3,988 | $ 2,205 | ||
Construction [Member] | ||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||
Change in fair value | $ 1,088 | $ 556 | 3,988 | 2,205 |
Total change in fair value | $ 1,088 | $ 556 | $ 3,988 | $ 2,205 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Value and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | $ 38,010 | $ 45,887 | $ 43,948 | $ 35,910 |
Available for sale securities, Fair value | 274,822 | 343,284 | ||
Held to maturity securities, Carrying Value | 85,549 | 97,519 | ||
Loans held for sale at lower of cost or market, Carrying Value | 196 | 165 | ||
Loans held for sale, at fair value | 84,349 | 62,593 | ||
Loans, net, Carrying Value | 1,947,695 | 1,503,577 | ||
FHLB stock, Carrying Value | 19,324 | 18,068 | ||
Accrued interest receivable, Carrying Value | 7,253 | 6,900 | ||
FHLB advances, Carrying Value | (328,341) | (390,756) | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (16,048) | (23,812) | ||
Accrued interest payable, Carrying Value | (722) | (145) | ||
Held to maturity securities, Fair value | 85,024 | 96,150 | ||
Reported Value Measurement [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | 38,010 | 45,887 | ||
Available for sale securities, Fair value | 274,822 | 343,284 | ||
Held to maturity securities, Carrying Value | 85,549 | 97,519 | ||
Loans held for sale at lower of cost or market, Carrying Value | 196 | 165 | ||
Loans held for sale, at fair value | 84,349 | 62,593 | ||
Loans, net, Carrying Value | 1,947,695 | 1,503,577 | ||
FHLB stock, Carrying Value | 19,324 | 18,068 | ||
Accrued interest receivable, Carrying Value | 7,253 | 6,900 | ||
Purchased certificate of deposit option, Carrying Value | 823 | 882 | ||
Checking, savings and money market accounts, Carrying Value | (1,241,779) | (1,026,565) | ||
Certificates of deposit, Carrying Value | (696,920) | (488,426) | ||
FHLB advances, Carrying Value | (328,341) | (390,756) | ||
Repurchase agreements and other, Carrying Value | (10,191) | (512) | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (16,048) | (23,812) | ||
Accrued interest payable, Carrying Value | (722) | (145) | ||
Written certificate of deposit option, Carrying Value | (823) | (882) | ||
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 | 38,010 | 45,887 | ||
Checking, savings and money market accounts, Fair Value | (1,241,779) | (1,026,565) | ||
Advance payments by borrowers for taxes and insurance, Fair Value | (16,048) | (23,812) | ||
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 | 274,822 | 343,284 | ||
Loans held for sale, at fair value | 14,111 | 8,832 | ||
Held to maturity securities, Fair value | 85,024 | 92,940 | ||
Loans held for sale, Carrying Value | 203 | 169 | ||
Accrued interest receivable, Fair Value | 1,733 | 2,624 | ||
Purchased certificate of deposit option, Fair Value | 823 | 882 | ||
Certificates of deposit, Fair Value | (698,045) | (491,278) | ||
FHLB advances, Fair Value | (328,342) | (390,750) | ||
Repurchase agreements and other, Fair Value | (9,911) | (513) | ||
Accrued interest payable, Fair Value | (722) | (145) | ||
Written certificate of deposit option, Fair Value | (823) | (882) | ||
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 | 70,238 | 53,761 | ||
Held to maturity securities, Fair value | 3,210 | |||
Loans, net, Fair Value | 1,942,267 | 1,494,534 | ||
Accrued interest receivable, Fair Value | $ 5,520 | $ 4,276 |
Statement of Cash Flows Suppl88
Statement of Cash Flows Supplemental Disclosure - Supplemental Disclosures of Cash Flow Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Supplemental Cash Flow Information [Line Items] | ||
Interest on deposits and borrowings | $ 8,611 | $ 6,203 |
Income taxes | 425 | 275 |
Supplemental schedule of noncash activities: | ||
Transfers from loans to real estate owned and other repossessed assets | 651 | 813 |
Transfers from loans to loans held for sale | 27,921 | |
Transfers from premises and equipment to other assets, held for sale | 1,720 | |
Accretion of securities held to maturity | 151 | 181 |
James & Sons Insurance Company [Member] | ||
Supplemental schedule of noncash activities: | ||
Issuance of common stock | $ 1,547 | |
Ohio Legacy Corp. [Member] | ||
Supplemental schedule of noncash activities: | ||
Issuance of common stock | 25,816 | |
Net assets acquired excluding cash and cash equivalents | $ 36 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Stock Option [Member] | ||||
Earnings Per Common Share [Line Items] | ||||
Number of anti-dilutive shares related to stock options | 0 | 0 | 0 | 0 |
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 | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Net income per consolidated statements of income | $ 7,556 | $ 5,153 | $ 17,283 | $ 13,803 |
Net income allocated to participating securities | (42) | (38) | (108) | (88) |
Net income allocated to common stock | 7,514 | 5,115 | 17,175 | 13,715 |
Distributed earnings allocated to common stock | 1,979 | 1,385 | 4,941 | 3,753 |
Undistributed earnings allocated to common stock | 5,535 | 3,730 | 12,234 | 9,962 |
Net income allocated to common stock | $ 7,514 | $ 5,115 | $ 17,175 | $ 13,715 |
Weighted average common shares outstanding, including shares considered participating securities | 49,736 | 46,508 | 49,353 | 47,104 |
Less: Average participating securities | (276) | (341) | (308) | (302) |
Weighted average shares | 49,460 | 46,167 | 49,045 | 46,802 |
Basic earnings per common share | $ 0.15 | $ 0.11 | $ 0.35 | $ 0.29 |
Weighted average common shares outstanding for basic earnings per common share | 49,460 | 46,167 | 49,045 | 46,802 |
Add: Dilutive effects of assumed exercises of stock options and LTIP awards | 391 | 225 | 396 | 214 |
Weighted average shares and dilutive potential common shares | 49,851 | 46,392 | 49,441 | 47,016 |
Diluted earnings per common share | $ 0.15 | $ 0.11 | $ 0.35 | $ 0.29 |
Other Comprehensive Income (L91
Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2014 | |
Equity [Abstract] | |||||
Reclassification of net gains or (losses) included in other comprehensive income | $ 236 | $ 218 | $ 566 | $ 604 | |
Effect of disproportionate tax on accumulated other comprehensive income (loss) | $ (16,600) |
Other Comprehensive Income (L92
Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) Components and Related Tax Effects (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | $ 249,806 | $ 244,245 | ||
Other comprehensive income before reclassifications | $ 639 | $ (1,227) | 3,381 | 9,895 |
Amortization of unrealized gains of postretirement plan recognized in other comprehensive income | (289) | (651) | ||
Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income | 33 | 47 | 98 | 118 |
Reclassification adjustment for gains realized in income | (153) | (142) | (368) | (393) |
Total other comprehensive income | 519 | (1,611) | 3,111 | 8,969 |
Balance | 291,851 | 256,403 | 291,851 | 256,403 |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | (603) | 8,379 | (3,130) | (2,492) |
Other comprehensive income before reclassifications | 639 | (1,227) | 3,381 | 9,895 |
Reclassification adjustment for gains realized in income | (153) | (142) | (368) | (393) |
Total other comprehensive income | 486 | (1,369) | 3,013 | 9,502 |
Balance | (117) | 7,010 | (117) | 7,010 |
Disproportionate Tax Effect from Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | (17,110) | (17,110) | (17,110) | (17,110) |
Balance | (17,110) | (17,110) | (17,110) | (17,110) |
Losses on Securities Transferred From Available for Sale to Held to Maturity [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | (735) | (889) | (800) | (960) |
Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income | 33 | 47 | 98 | 118 |
Total other comprehensive income | 33 | 47 | 98 | 118 |
Balance | (702) | (842) | (702) | (842) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | (18,448) | (8,640) | (21,040) | (19,220) |
Total other comprehensive income | 3,111 | 8,969 | ||
Balance | $ (17,929) | (10,251) | $ (17,929) | (10,251) |
Unrealized Gains (Losses) from Postretirement Plan [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | 469 | 831 | ||
Amortization of unrealized gains of postretirement plan recognized in other comprehensive income | (289) | (651) | ||
Total other comprehensive income | (289) | (651) | ||
Balance | 180 | 180 | ||
Disproportionate Tax Effect from Postretirement Plan [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balance | 511 | 511 | ||
Balance | $ 511 | $ 511 |
Other Comprehensive Income (L93
Other Comprehensive Income (Loss) - Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||||
Net gains on securities available for sale | $ 236 | $ 218 | $ 566 | $ 604 |
Reduction in salaries & employee benefits | 0 | (445) | 0 | (1,001) |
Tax expense | (3,067) | (2,288) | (7,001) | (6,409) |
Net income | 7,556 | 5,153 | 17,283 | 13,803 |
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||||
Net income | 153 | 431 | 368 | 1,044 |
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||||
Net gains on securities available for sale | 236 | 218 | 566 | 604 |
Tax expense | $ (83) | (76) | $ (198) | (211) |
Net income | 142 | 393 | ||
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | Amortization of Postretirement Benefits Prior Service Costs [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||||
Reduction in salaries & employee benefits | 445 | 1,001 | ||
Tax expense | (156) | (350) | ||
Net income | $ 289 | $ 651 |
Regulatory Capital Requiremen94
Regulatory Capital Requirements - Additional Information (Detail) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | 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. | ||
Capital conservation buffer rate | 0.625% | ||
Scenario Forecast [Member] | |||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | |||
Capital conservation buffer rate | 1.25% |
Regulatory Capital Requiremen95
Regulatory Capital Requirements - Actual and Statutory Required Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
United Community [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual Amount | $ 300,578 | $ 277,817 |
Tier 1 capital (to risk-weighted assets), Actual Amount | 280,023 | 258,869 |
Common equity Tier 1 capital (to risk-weighted assets), Actual Amount | 280,023 | 258,869 |
Tier 1 capital (to average assets), Actual Amount | $ 280,023 | $ 258,869 |
Total capital (to risk-weighted assets), Actual Ratio | 15.38% | 18.38% |
Tier 1 capital (to risk-weighted assets), Actual Ratio | 14.33% | 17.13% |
Common equity Tier 1 capital (to risk-weighted assets), Actual Ratio | 14.33% | 17.13% |
Tier 1 capital (to average assets), Actual Ratio | 10.95% | 11.98% |
Total capital (to risk-weighted assets), Minimum Capital Requirements Amount | $ 180,758 | $ 130,369 |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Amount | 141,675 | 100,139 |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Amount | 112,363 | 77,466 |
Tier 1 capital (to average assets), Minimum Capital Requirements Amount | $ 102,306 | $ 86,425 |
Total capital (to risk-weighted assets), Minimum Capital Requirements Ratio | 9.25% | 8.625% |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Ratio | 7.25% | 6.625% |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Ratio | 5.75% | 5.125% |
Tier 1 capital (to average assets), Minimum Capital Requirements Ratio | 4.00% | 4.00% |
Home Savings [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual Amount | $ 287,665 | $ 248,861 |
Tier 1 capital (to risk-weighted assets), Actual Amount | 267,141 | 229,938 |
Common equity Tier 1 capital (to risk-weighted assets), Actual Amount | 267,141 | 229,938 |
Tier 1 capital (to average assets), Actual Amount | $ 267,141 | $ 229,938 |
Total capital (to risk-weighted assets), Actual Ratio | 14.74% | 16.47% |
Tier 1 capital (to risk-weighted assets), Actual Ratio | 13.69% | 15.22% |
Common equity Tier 1 capital (to risk-weighted assets), Actual Ratio | 13.69% | 15.22% |
Tier 1 capital (to average assets), Actual Ratio | 10.46% | 10.65% |
Total capital (to risk-weighted assets), Minimum Capital Requirements Amount | $ 180,469 | $ 130,292 |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Amount | 141,448 | 100,079 |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Amount | 112,183 | 77,420 |
Tier 1 capital (to average assets), Minimum Capital Requirements Amount | $ 102,142 | $ 86,360 |
Total capital (to risk-weighted assets), Minimum Capital Requirements Ratio | 9.25% | 8.625% |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Ratio | 7.25% | 6.625% |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Ratio | 5.75% | 5.125% |
Tier 1 capital (to average assets), Minimum Capital Requirements Ratio | 4.00% | 4.00% |
Total capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 195,101 | $ 151,063 |
Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 156,081 | 120,850 |
Common equity Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 126,816 | 98,191 |
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 127,677 | $ 107,950 |
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 Requiremen96
Regulatory Capital Requirements - Components of Regulatory Capital (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | $ 291,851 | $ 249,806 | $ 256,403 | $ 244,245 |
Accumulated other comprehensive income | (17,929) | (21,040) | ||
United Community [Member] | ||||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | 291,851 | 249,806 | ||
Accumulated other comprehensive income | 17,929 | 21,040 | ||
Intangible assets | (22,773) | (1,567) | ||
Disallowed deferred tax assets | (6,984) | (10,410) | ||
Tier 1 Capital | 280,023 | 258,869 | ||
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 20,555 | 18,948 | ||
Total risk-based capital | 300,578 | 277,817 | ||
Home Savings [Member] | ||||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | 272,589 | 216,475 | ||
Accumulated other comprehensive income | 17,944 | 21,056 | ||
Intangible assets | (20,241) | (3) | ||
Disallowed deferred tax assets | (3,151) | (7,590) | ||
Tier 1 Capital | 267,141 | 229,938 | ||
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 20,524 | 18,923 | ||
Total risk-based capital | $ 287,665 | $ 248,861 |
Regulatory Capital Requiremen97
Regulatory Capital Requirements - Components of Regulatory Capital (Parenthetical) (Detail) | Sep. 30, 2017 | Dec. 31, 2016 |
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% |
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% |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Loan loss reserves | $ 7,194 | $ 6,680 |
Depreciation | 940 | 748 |
Other real estate owned valuation | 148 | 354 |
Tax credits carryforward | 2,816 | 1,471 |
Unrealized loss on securities available for sale | 62 | 1,685 |
Unrealized loss on securities held to maturity | 378 | 431 |
Interest on nonaccrual loans | 887 | 1,039 |
Net operating loss carryforward | 4,613 | 8,574 |
Purchase accounting adjustment | 781 | |
Accrued bonuses | 991 | 812 |
Other | 80 | 221 |
Deferred tax assets | 18,890 | 22,015 |
Deferred tax liabilities: | ||
Deferred loan fees | 1,772 | 1,275 |
Federal Home Loan Bank stock dividends | 4,645 | 4,585 |
Mortgage servicing rights | 2,257 | 2,124 |
FHLB prepayment penalty | 649 | 786 |
Purchase accounting adjustment | 371 | |
Prepaid expenses | 555 | 139 |
Deferred tax liabilities | 9,878 | 9,280 |
Net deferred tax asset | $ 9,012 | $ 12,735 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Net deferred tax asset | $ 9,012,000 | $ 12,735,000 |
Operating loss carryforwards used against taxable income | $ 13,200,000 | |
Expiration dates, operating loss carried forward | Dec. 31, 2030 | |
Alternative minimum tax credits carried forward | $ 2,800,000 |
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 | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Tax at statutory rate, amount | $ 3,718 | $ 2,604 | $ 8,499 | $ 7,074 |
Tax exempt income, amount | (164) | (142) | (499) | (327) |
Life insurance, amount | (148) | (132) | (416) | (388) |
Stock compensation, amount | (102) | (300) | ||
Other, amount | (237) | (42) | (283) | 50 |
Income tax provision, total amount | $ 3,067 | $ 2,288 | $ 7,001 | $ 6,409 |
Tax at statutory rate, rate | 35.00% | 35.00% | 35.00% | 35.00% |
Tax exempt income, rate | (1.54%) | (1.91%) | (2.05%) | (1.62%) |
Life insurance, rate | (1.39%) | (1.78%) | (1.71%) | (1.92%) |
Stock compensation, rate | (0.96%) | (1.24%) | ||
Other, rate | (2.23%) | (0.56%) | (1.17%) | 0.25% |
Income tax provision, total rate | 28.88% | 30.75% | 28.83% | 31.71% |
Goodwill and Intangible Asse101
Goodwill and Intangible Assets - Change in Goodwill (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Goodwill [Line Items] | ||
Beginning of the year | $ 208 | |
End of the year | 19,488 | $ 208 |
James & Sons Insurance Company [Member] | ||
Goodwill [Line Items] | ||
Effect of adjustments | 636 | |
Acquired goodwill | $ 208 | |
OLCB [Member] | ||
Goodwill [Line Items] | ||
Effect of adjustments | 15 | |
Acquired goodwill | 18,420 | |
Eich Brothers Insurance [Member] | ||
Goodwill [Line Items] | ||
Acquired goodwill | 188 | |
Stevens Insurance [Member] | ||
Goodwill [Line Items] | ||
Acquired goodwill | $ 21 |
Goodwill and Intangible Asse102
Goodwill and Intangible Assets - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)ReportingUnit | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($)ReportingUnit | |
Goodwill And Intangible Assets [Line Items] | |||||
Number of reporting units with carrying amount of zero or less than zero | ReportingUnit | 0 | 0 | |||
Carrying amount of reporting unit | $ 0 | $ 0 | $ 0 | ||
Amortization of intangible assets | 113,000 | $ 72,000 | 308,000 | $ 95,000 | |
Maximum [Member] | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Carrying amount of reporting unit | $ 0 | $ 0 | $ 0 |
Goodwill and Intangible Asse103
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 13,406 | $ 10,352 |
Accumulated Amortization | 9,299 | 8,991 |
Core deposit intangibles [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 11,184 | 8,952 |
Accumulated Amortization | 9,167 | 8,947 |
Customer list intangible [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,222 | 1,400 |
Accumulated Amortization | $ 132 | $ 44 |
Goodwill and Intangible Asse104
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets - Core Deposit (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Finite Lived Intangible Assets [Line Items] | |||||
Amortization | $ (113) | $ (72) | $ (308) | $ (95) | |
Core deposit intangibles [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Beginning of the year | 5 | $ 30 | $ 30 | ||
Amortization | (220) | (25) | |||
End of the period | $ 2,017 | 2,017 | $ 5 | ||
Core deposit intangibles [Member] | OLCB [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Acquired intangibles | $ 2,232 |
Goodwill and Intangible Asse105
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets - Customer List (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Finite Lived Intangible Assets [Line Items] | |||||
Amortization | $ (113) | $ (72) | $ (308) | $ (95) | |
Customer list intangible [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Beginning of the year | 1,356 | ||||
Amortization | (88) | $ (44) | |||
End of the period | $ 2,090 | 2,090 | 1,356 | ||
Customer list intangible [Member] | James & Sons Insurance Company [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Effect of adjustments | (41) | ||||
Acquired intangibles | $ 1,400 | ||||
Customer list intangible [Member] | OLCB [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Acquired intangibles | 268 | ||||
Customer list intangible [Member] | Eich Brothers Insurance [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Acquired intangibles | 535 | ||||
Customer list intangible [Member] | Stevens Insurance [Member] | |||||
Finite Lived Intangible Assets [Line Items] | |||||
Acquired intangibles | $ 60 |
Goodwill and Intangible Asse106
Goodwill and Intangible Assets - Estimated Amortization Expense (Detail) | Sep. 30, 2017USD ($) |
Intangible Assets Accumulated Amortization [Abstract] | |
Remainder of 2017 | $ 112,000 |
2,018 | 448,000 |
2,019 | 448,000 |
2,020 | 448,000 |
2,021 | 448,000 |
2,022 | $ 448,000 |
Qualified Affordable Housing107
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Schedule Of Equity Method Investments [Line Items] | |||||
Investment in qualified affordable housing projects | $ 5,800,000 | $ 5,800,000 | $ 3,000,000 | ||
Unfunded commitments of investments in qualified affordable housing projects | 5,700,000 | 5,700,000 | $ 2,900,000 | ||
Recognized amortization expense included in income tax expense | 44,000 | $ 5,000 | 134,000 | $ 5,000 | |
Recognized tax credits and other benefits from investment in affordable housing tax credits | 55,000 | 6,000 | 165,000 | 6,000 | |
Impairment losses related to investment in qualified affordable housing projects | $ 0 | $ 0 | $ 0 | $ 0 | |
Minimum [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Expected period for fulfillment of investment commitments | 8 years | ||||
Maximum [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Expected period for fulfillment of investment commitments | 10 years |