Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 06, 2017 | Jun. 30, 2016 | |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,016 | ||
Entity Registrant Name | BankFinancial CORP | ||
Entity Central Index Key | 1,303,942 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 19,263,336 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Public Float | $ 201.3 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from other financial institutions | $ 13,053 | $ 13,192 |
Interest-bearing deposits in other financial institutions | 83,631 | 46,185 |
Cash and cash equivalents | 96,684 | 59,377 |
Securities, at fair value | 107,212 | 114,753 |
Loans receivable, net of allowance for loan losses | 1,312,952 | 1,232,257 |
Other real estate owned, net | 3,895 | 7,011 |
Stock in Federal Home Loan Bank, at cost | 11,650 | 6,257 |
Premises and equipment, net | 31,413 | 32,726 |
Accrued interest receivable | 4,381 | 4,226 |
Core deposit intangible | 782 | 1,305 |
Bank owned life insurance | 22,594 | 22,387 |
Deferred Tax Assets, Net | 22,411 | 26,695 |
Other assets | 6,063 | 5,449 |
Total assets | 1,620,037 | 1,512,443 |
Deposits | ||
Noninterest-bearing | 249,539 | 254,830 |
Interest-bearing | 1,089,851 | 958,089 |
Total deposits | 1,339,390 | 1,212,919 |
Borrowings | 51,069 | 64,318 |
Advance payments by borrowers taxes and insurance | 11,041 | 11,528 |
Accrued interest payable and other liabilities | 13,757 | 11,314 |
Total liabilities | 1,415,257 | 1,300,079 |
Commitments and contingent liabilities | ||
Stockholders' equity: | ||
Preferred Stock, $0.01 par value, 25,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common Stock, $0.01 par value, 100,000,000 shares authorized; 19,233,760 shares issued at December 31, 2016 and 20,297,317 shares issued at December 31, 2015 | 192 | 203 |
Additional paid-in capital | 173,047 | 184,797 |
Retained earnings | 39,483 | 36,114 |
Unearned Employee Stock Ownership Plan shares | (8,318) | (9,297) |
Accumulated other comprehensive income | 376 | 547 |
Total stockholders' equity | 204,780 | 212,364 |
Total liabilities and stockholders' equity | $ 1,620,037 | $ 1,512,443 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses | $ 8,127 | $ 9,691 |
Preferred Stock, par value (usd per share) | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Common Stock, par value (usd per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 100,000,000 | 100,000,000 |
Common Stock, shares issued | 19,233,760 | 20,297,317 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest and dividend income | |||
Loans, including fees | $ 49,025 | $ 47,488 | $ 47,802 |
Securities | 1,228 | 1,141 | 1,154 |
Other | 675 | 333 | 393 |
Total interest income | 50,928 | 48,962 | 49,349 |
Interest expense | |||
Deposits | 3,865 | 2,794 | 3,038 |
Borrowings | 105 | 20 | 8 |
Total interest expense | 3,970 | 2,814 | 3,046 |
Net interest income | 46,958 | 46,148 | 46,303 |
Provision for (recovery of) loan losses | (239) | (3,206) | (736) |
Net interest income | 47,197 | 49,354 | 47,039 |
Noninterest income | |||
Deposit service charges and fees | 2,254 | 2,248 | 1,977 |
Other fee income | 2,052 | 2,143 | 2,238 |
Insurance commissions and annuities income | 302 | 386 | 431 |
Gain on sale of loans, net | 75 | 102 | 158 |
Gain (loss) on sale of securities (includes $46 and $(7) accumulated other comprehensive income reclassifications for unrealized net gains (losses) on available for sale securities for the years ended December 31, 2016 and December 31, 2014, respectively) | 46 | 0 | (7) |
Loan servicing fees | 276 | 354 | 418 |
Amortization and impairment of servicing assets | (112) | (140) | (143) |
Earnings on bank owned life insurance | 207 | 194 | 235 |
Trust | 674 | 712 | 683 |
Other | 771 | 692 | 719 |
Total noninterest income | 6,545 | 6,691 | 6,709 |
Noninterest expense | |||
Compensation and benefits | 22,755 | 22,222 | 22,874 |
Office occupancy and equipment | 6,380 | 6,522 | 6,878 |
Advertising and public relations | 870 | 991 | 1,107 |
Information technology | 2,892 | 2,669 | 2,676 |
Supplies, telephone, and postage | 1,364 | 1,586 | 1,579 |
Amortization of intangibles | 523 | 550 | 578 |
Nonperforming asset management | 399 | 681 | 838 |
Operations of other real estate owned | 846 | 1,063 | 1,408 |
FDIC insurance premiums | 755 | 904 | 1,416 |
Other | 4,758 | 4,757 | 5,097 |
Total noninterest expense | 41,542 | 41,945 | 44,451 |
Income (loss) before income taxes | 12,200 | 14,100 | 9,297 |
Income tax expense (benefit) | 4,698 | 5,425 | (31,317) |
Net income (loss) | $ 7,502 | $ 8,675 | $ 40,614 |
Basic earnings (loss) per common share (usd per share) | $ 0.40 | $ 0.44 | $ 2.01 |
Diluted earnings (loss) per common share (usd per share) | $ 0.39 | $ 0.44 | $ 2.01 |
Weighted average common shares outstanding (shares) | 18,987,951 | 19,918,003 | 20,177,271 |
Diluted weighted average common shares outstanding (shares) | 19,047,139 | 19,921,519 | 20,186,376 |
Consolidated Statements of Ope5
Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||
Reclassification adjustment for unrealized net gains (losses) on available for sale securities | $ 46 | $ 0 | $ (7) |
Consolidated Statements Compreh
Consolidated Statements Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 7,502 | $ 8,675 | $ 40,614 |
Unrealized holding gain (loss) on securities arising during the period | (233) | (339) | 118 |
Tax effect | 90 | 129 | 213 |
Net of tax | (143) | (210) | 331 |
Reclassification adjustment for (gain) loss included in net income | (46) | 0 | 7 |
Tax effect, included in income tax expense | 18 | 0 | 0 |
Reclassification adjustment for (gain) loss included in net income, net of tax | (28) | 0 | 7 |
Other comprehensive income (loss) | (171) | (210) | 338 |
Comprehensive income | $ 7,331 | $ 8,465 | $ 40,952 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Unearned Employee Stock Ownership Plan Shares | Accumulated Other Comprehensive Income (Loss) |
Beginning Balance at Dec. 31, 2013 | $ 175,627 | $ 211 | $ 193,594 | $ (7,342) | $ (11,255) | $ 419 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 40,614 | 0 | 0 | 40,614 | 0 | 0 |
Other comprehensive loss, net of tax effect | 338 | 0 | 0 | 0 | 0 | 338 |
Nonvested stock awards-stock-based compensation expense | 70 | 0 | 70 | 0 | 0 | 0 |
Cash dividends declared on common stock | (1,688) | 0 | 0 | (1,688) | 0 | 0 |
ESOP shares earned | 1,160 | 0 | 181 | 0 | 979 | 0 |
Ending Balance at Dec. 31, 2014 | 216,121 | 211 | 193,845 | 31,584 | (10,276) | 757 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 8,675 | 0 | 0 | 8,675 | 0 | 0 |
Other comprehensive loss, net of tax effect | (210) | 0 | 0 | 0 | 0 | (210) |
Nonvested stock awards-stock-based compensation expense | 657 | 0 | 657 | 0 | 0 | 0 |
Repurchase and retirement of common stock | (9,970) | (8) | (9,962) | |||
Cash dividends declared on common stock | (4,145) | 0 | 0 | (4,145) | 0 | 0 |
ESOP shares earned | 1,236 | 0 | 257 | 0 | 979 | 0 |
Ending Balance at Dec. 31, 2015 | 212,364 | 203 | 184,797 | 36,114 | (9,297) | 547 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 7,502 | 0 | 0 | 7,502 | 0 | 0 |
Other comprehensive loss, net of tax effect | (171) | 0 | 0 | 0 | 0 | (171) |
Nonvested stock awards-stock-based compensation expense | 982 | 0 | 982 | 0 | 0 | 0 |
Repurchase and retirement of common stock | (13,215) | (11) | (13,204) | |||
Cash dividends declared on common stock | (4,133) | 0 | 0 | (4,133) | 0 | 0 |
ESOP shares earned | 1,451 | 0 | 472 | 0 | 979 | 0 |
Ending Balance at Dec. 31, 2016 | $ 204,780 | $ 192 | $ 173,047 | $ 39,483 | $ (8,318) | $ 376 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Purchase and retirement of common stock (shares) | 1,063,557 | 804,649 | 0 |
Cash dividends declared on common stock (usd per share) | $ 0.21 | $ 0.2 | $ 0.08 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities | |||
Net income | $ 7,502 | $ 8,675 | $ 40,614 |
Adjustments to reconcile to net loss to net cash from operating activities | |||
Provision for (recovery of) loan losses | (239) | (3,206) | (736) |
ESOP shares earned | 1,451 | 1,236 | 1,160 |
Stock-based compensation expense | 982 | 657 | 70 |
Depreciation and amortization | 3,777 | 3,682 | 3,811 |
Amortization and accretion on securities and loans | (280) | (312) | (438) |
Amortization of core deposit and other intangible assets | 523 | 550 | 578 |
Amortization and impairment of servicing assets | 112 | 140 | 143 |
Net change in net deferred loan origination costs | (42) | (422) | (229) |
Net loss on sale of other real estate owned | (128) | (59) | 35 |
Net gain on sale of loans | (75) | (102) | (158) |
Net (gain) loss on sale of securities | (46) | 0 | 7 |
Net (gain) loss on disposition of premises and equipment | (38) | 1 | (5) |
Loans originated for sale | (2,310) | (3,838) | (5,323) |
Proceeds from sale of loans | 2,385 | 3,940 | 5,481 |
Other real estate owned valuation adjustments | 314 | 548 | 438 |
Net change in: | |||
Deferred income tax | 4,390 | 5,079 | (31,643) |
Accrued interest receivable | (155) | (300) | 7 |
Earnings on bank owned life insurance | (207) | (194) | (235) |
Other assets | (1,418) | 659 | 2,874 |
Accrued interest payable and other liabilities | 2,443 | (1,852) | 1,394 |
Net Cash Provided by (Used in) Operating Activities | 18,941 | 14,882 | 17,845 |
Securities | |||
Proceeds from maturities | 67,734 | 59,804 | 52,103 |
Proceeds from principal repayments | 5,102 | 6,984 | 7,179 |
Proceeds from sales of securities | 46 | 0 | 3,663 |
Purchases of securities | (65,617) | (60,744) | (73,142) |
Loans receivable | |||
Loan participations sold | 6,195 | 3,350 | 0 |
Principal payments on loans receivable | 495,391 | 441,820 | 432,571 |
Purchases of loans | (54,970) | 0 | 0 |
Originated for investment | (543,740) | (509,018) | (513,384) |
Proceeds from sale of loans | 14,746 | 0 | 0 |
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock | (5,393) | 0 | (189) |
Proceeds from sale of other real estate owned | 4,181 | 4,733 | 4,914 |
Purchases of premises and equipment, net | (696) | (542) | (1,176) |
Net cash from (used in) investing activities | (77,021) | (53,613) | (87,461) |
Cash flows from financing activities | |||
Net change in deposits | 126,471 | 1,206 | (40,995) |
Net change in borrowings | (13,249) | 51,397 | 9,866 |
Net change in advance payments by borrowers for taxes and insurance | (487) | 39 | 1,057 |
Repurchase and retirement of common stock | (13,215) | (9,970) | 0 |
Cash dividends paid on common stock | (4,133) | (4,145) | (1,688) |
Net cash used in financing activities | 95,387 | 38,527 | (31,760) |
Net change in cash and cash equivalents | 37,307 | (204) | (101,376) |
Beginning cash and cash equivalents | 59,377 | 59,581 | 160,957 |
Ending cash and cash equivalents | 96,684 | 59,377 | 59,581 |
Supplemental disclosures of cash flow information: | |||
Interest paid | 3,907 | 2,844 | 3,070 |
Income taxes paid | 289 | 363 | 114 |
Income taxes refunded | 9 | 7 | 0 |
Loans transferred to other real estate owned | $ 1,251 | $ 5,875 | $ 5,449 |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | Basis of Presentation : BankFinancial Corporation, a Maryland corporation headquartered in Burr Ridge, Illinois (the “Company”), is the owner of all of the issued and outstanding capital stock of BankFinancial, N.A. (the “Bank”). On November 30, 2016, the Federal Reserve Board approved the Company's previously filed application to register as a Bank Holding Company. Following the receipt of the Federal Reserve Board's approval, the Company's wholly-owned subsidiary, BankFinancial F.S.B. met all existing conditions required for approval of the Bank's application to convert from a federal savings bank to a national bank. On November 30, 2016, the Office of the Comptroller of the Currency authorized the Bank to begin operations as a national bank. Accordingly, effective at 11:59 PM on November 30, 2016, BankFinancial Corporation is a registered Bank Holding Company and its wholly-owned bank subsidiary is operating as BankFinancial, National Association. Principles of Consolidation : The consolidated financial statements include the accounts of and transactions of BankFinancial Corporation, the Bank, and the Bank’s wholly-owned subsidiaries, Financial Assurance Services, Inc. and BF Asset Recovery Corporation (collectively, “the Company”) and have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany accounts and transactions have been eliminated. Nature of Business : The Company’s revenues, operating income, and assets are primarily from the banking industry. Loan origination customers are mainly located in the greater Chicago metropolitan area. To supplement loan originations, the Company purchases mortgage loans. The loan portfolio is concentrated in loans that are primarily secured by real estate. Use of Estimates : To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Interest-bearing Deposits in Other Financial Institutions : Interest-bearing deposits in other financial institutions maturing in less than 90 days are carried at cost. Cash Flows : Cash and cash equivalents include cash, deposits with other financial institutions maturing in less than 90 days, and daily federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, borrowings, and advance payments by borrowers for taxes and insurance. Securities : Debt securities are classified as available-for-sale when they might be sold before maturity. Equity securities with readily determinable fair values are classified as available-for-sale. Securities available-for-sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold. Declines in the fair value of securities below their cost that are other-than-temporary are reflected as realized losses. In determining if losses are other-than-temporary, management considers: (1) the length of time and extent that fair value has been less than cost or adjusted cost, as applicable, (2) the financial condition and near term prospects of the issuer, and (3) whether the Company has the intent to sell the debt security or it is more likely than not that the Company will be required to sell the debt security before the anticipated recovery. Securities also include investments in certificates of deposit with maturities of greater than 90 days. These certificates of deposit are placed with insured institutions for varying maturities and amounts that are fully insured by the Federal Deposit Insurance Corporation (“FDIC”). Federal Home Loan Bank (“FHLB”) Stock : The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB of Chicago (“FHLBC”) stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Federal Reserve Bank (“FRB”) Stock : The Bank is a member of its regional Federal Reserve Bank. FRB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Loans and Loan Income : Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of the allowance for loan losses, premiums and discounts on loans purchased, and net deferred loan costs. Interest income on loans is recognized in income over the term of the loan based on the amount of principal outstanding. Premiums and discounts associated with loans purchased are amortized over the contractual term of the loan using the level–yield method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level‑yield method without anticipating prepayments. Interest income is reported on the interest method. Interest income is discontinued at the time a loan is 90 days past due or when we do not expect to receive full payment of interest or principal. Past due status is based on the contractual terms of the loan. All interest accrued but not received for loans that have been placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash–basis or cost–recovery method until qualifying for return to accrual status. Once a loan is placed on nonaccrual status, the borrower must generally demonstrate at least six months of payment performance before the loan is eligible to return to accrual status. Generally, the Company utilizes the “90 days delinquent, still accruing” category of loan classification when: (1) the loan is repaid in full shortly after the period end date; (2) the loan is well secured and there are no asserted or pending legal barriers to its collection; or (3) the borrower has remitted all scheduled payments and is otherwise in substantial compliance with the terms of the loan, but the processing of payments actually received or the renewal of a loan has not occurred for administrative reasons. Impaired Loans: Impaired loans consist of nonaccrual loans and troubled debt restructurings (“TDRs”). A loan is considered impaired when, based on current information and events, management believes that it is probable that we will be unable to collect all amounts due (both principal and interest) according to the original contractual terms of the loan agreement. Once a loan is determined to be impaired, the amount of impairment is measured based on the loan's observable fair value, the fair value of the underlying collateral less selling costs if the loan is collateral-dependent, or the present value of expected future cash flows discounted at the loan's effective interest rate. If the measurement of the impaired loan is less than the recorded investment in the loan, the bank's allowance for the impaired collateral dependent loan under ASC 310-10-35 is based on fair value (less costs to sell), but the charge-off (the confirmed “loss”) is based on the appraised value. The remaining recorded investment in the loan after the charge-off will have a loan loss allowance for the amount by which the estimated fair value of the collateral (less costs to sell) is less than its appraised value. Impaired loans with specific reserves are reviewed quarterly for any changes that would affect the specific reserve. Any impaired loan for which a determination has been made that the economic value is permanently reduced is charged-off against the allowance for loan losses to reflect its current economic value in the period in which the determination has been made. At the time a collateral-dependent loan is initially determined to be impaired, we review the existing collateral appraisal. If the most recent appraisal is greater than a year old, a new appraisal is obtained on the underlying collateral. Appraisals are updated with a new independent appraisal at least annually and are formally reviewed by our internal appraisal department upon receipt of a new appraisal. All impaired loans and their related reserves are reviewed and updated each quarter. With an immaterial number of exceptions, all appraisals and internal reviews are current under this methodology at December 31, 2016 . Troubled Debt Restructurings : A loan is classified as a troubled debt restructuring when a borrower is experiencing financial difficulties that leads to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses. In determining whether a debtor is experiencing financial difficulties, the Company considers if the debtor is in payment default or would be in payment default in the foreseeable future without the modification, the debtor declared or is in the process of declaring bankruptcy, there is substantial doubt that the debtor will continue as a going concern, the debtor has securities that have been or are in the process of being delisted, the debtor's entity-specific projected cash flows will not be sufficient to service any of its debt, or the debtor cannot obtain funds from sources other than the existing creditors at a market rate for debt with similar risk characteristics. In determining whether the Company has granted a concession, the Company assesses, if it does not expect to collect all amounts due, whether the current value of the collateral will satisfy the amounts owed, whether additional collateral or guarantees from the debtor will serve as adequate compensation for other terms of the restructuring, and whether the debtor otherwise has access to funds at a market rate for debt with similar risk characteristics. Periodically, the Company will restructure a note into two separate notes (A/B structure), charging off the entire B portion of the note. The A note is structured with appropriate loan-to-value and cash flow coverage ratios that provide for a high likelihood of repayment. The A note is classified as a nonperforming note until the borrower has displayed a historical payment performance for a reasonable time prior to and subsequent to the restructuring. A period of sustained repayment for at least six months generally is required to return the note to accrual status provided that management has determined that the performance is reasonably expected to continue. The A note will be classified as a restructured note (either performing or nonperforming) through the calendar year of the restructuring that the historical payment performance has been established. Allowance for Loan Losses: The Company establishes provisions for loan losses, which are charged to the Company’s results of operations to maintain the allowance for loan losses to absorb probable incurred credit losses in the loan portfolio. In determining the level of the allowance for loan losses, the Company considers past and current loss experience, trends in classified loans, evaluations of real estate collateral, current economic conditions, volume and type of lending, adverse situations that may affect a borrower’s ability to repay a loan and the levels of nonperforming and other classified loans. The amount of the allowance is based on estimates and the ultimate losses may vary from the estimates as more information becomes available or events change. The Company provides for loan losses based on the allowance method. Accordingly, all loan losses are charged to the related allowance and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors that, in our judgment, deserve current recognition in estimating probable incurred credit losses. The Company reviews the loan portfolio on an ongoing basis and makes provisions for loan losses on a quarterly basis to maintain the allowance for loan losses in accordance with GAAP. The allowance for loan losses consists of two components: • specific allowances established for any impaired residential non-owner occupied mortgage, multi-family mortgage, nonresidential real estate, construction and land, commercial, and commercial lease loans for which the recorded investment in the loan exceeds the measured value of the loan; and • general allowances for loan losses for each loan class based on historical loan loss experience; and adjustments to historical loss experience (general allowances), maintained to cover uncertainties that affect our estimate of probable incurred credit losses for each loan class. The adjustments to historical loss experience are based on our evaluation of several factors, including levels of, and trends in, past due and classified loans; levels of, and trends in, charge–offs and recoveries; trends in volume and terms of loans, including any credit concentrations in the loan portfolio; experience and ability of lending management and other relevant staff; and national and local economic trends and conditions. The Company evaluates the allowance for loan losses based upon the combined total of the specific and general components. Generally, when the loan portfolio increases, absent other factors, the allowance for loan loss methodology results in a higher dollar amount of estimated probable incurred credit losses than would be the case without the increase. Conversely, when the loan portfolio decreases, absent other factors, the allowance for loan loss methodology generally results in a lower dollar amount of estimated probable losses than would be the case without the decrease. The loss ratio used in computing the required general loan loss reserve allowance for a given class of loan consists of (i) the actual loss ratio (measured on a weighted, rolling twelve-quarter basis), (ii) the change in credit quality within the specific loan class during the period, (iii) the actual inherent risk factor assigned to the specific loan class and (iv) the actual concentration of risk factor assigned to the specific loan class (collectively, the “Specific Loan Class Risk Factors”). The Specific Loan Class Risk Factors are weighted equally in the calculation. In addition, two additional quantitative factors, the National Economic risk factor and the Local Economic risk factor, are also components of the computation but are given different weightings in their computation due to their relative applicability to the specific loan class in the context of the effect of national and local economic conditions on their risk profile and performance. Mortgage Servicing Rights : Mortgage servicing rights are recognized separately when they are acquired through sales of loans. When mortgage loans are sold, servicing rights are initially recorded at fair value and gains on sales of loans are recorded in the statement of operations. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with amortization and impairment of servicing assets on the statement of operations. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Servicing fee income that is reported on the statement of operations as loan servicing fees is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are not material. First mortgage loans serviced for others are not included in the accompanying consolidated statements of financial condition. The unpaid principal balances of these loans were $106.4 million and $125.1 million at December 31, 2016 and 2015 , respectively. Custodial escrow balances maintained in connection with the foregoing loan servicing activities were $2.7 million and $3.4 million at at December 31, 2016 and 2015 , respectively. Capitalized mortgage servicing rights are included in the other assets in the accompanying consolidated statement of financial condition. Servicing rights were $612,000 and $724,000 at December 31, 2016 and December 31, 2015 , respectively, with no valuation allowance at December 31, 2016 and a $16,000 valuation allowance at December 31, 2015 . Other Real Estate Owned : Foreclosed assets are initially recorded at fair value less cost to sell when acquired, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when the legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. These assets are subsequently accounted for at a lower of cost or fair value less estimated cost to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating expenses, gains and losses on disposition, and changes in the valuation allowance are reported in noninterest expense as operations of other real estate owned ("OREO"). Premises and Equipment : Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is included in noninterest expense and is computed on the straight-line method over the estimated useful lives of the assets. Useful lives are estimated to be 25 to 40 years for buildings and improvements that extend the life of the original building, ten to 20 years for routine building improvements, five to 15 years for furniture and equipment, two to five years for computer hardware and software and no greater than four years on automobiles. The cost of maintenance and repairs is charged to expense as incurred and significant repairs are capitalized. Other Intangible Assets : Intangible assets acquired in a purchase business combination with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible assets (“CDI”), are recognized at the time of acquisition based on valuations prepared by independent third parties or other estimates of fair value. In preparing such valuations, variables such as deposit servicing costs, attrition rates, and market discount rates are considered. CDI assets are amortized to expense over their useful lives. Bank Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. The Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Long-Term Assets : Premises and equipment, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate that their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. Loan Commitments and Related Financial Instruments : Financial instruments include off-balance-sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Income Taxes : Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Under GAAP, a deferred tax asset valuation allowance is required to be recognized if it is “more likely than not” that the deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future taxable income, applicable tax planning strategies, and assessments of current and future economic and business conditions. The Company considers both positive and negative evidence regarding the ultimate realizability of our deferred tax assets. Examples of positive evidence may include the existence, if any, of taxes paid in available carry-back years and the likelihood that taxable income will be generated in future periods. Examples of negative evidence may include a cumulative loss in the current year and prior two years and negative general business and economic trends. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. This analysis is updated quarterly and adjusted as necessary. At December 31, 2016 , the Company had a net deferred tax asset of $22.4 million . A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, presuming that a tax examination will occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely to be realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Retirement Plans : Employee 401(k) and profit sharing plan expense is the amount of matching contributions and any annual discretionary contribution made at the discretion of the Company’s Board of Directors. Deferred compensation expense allocates the benefits over years of service. Employee Stock Ownership Plan (“ESOP”) : The cost of shares issued to the ESOP, but not yet allocated to participants, is shown as a reduction of stockholders’ equity. Compensation expense is based on the market price of shares as they are committed to be released to participant accounts. Dividends on allocated ESOP shares reduce retained earnings; dividends on unearned ESOP shares reduce debt and accrued interest. Earnings per Common Share : Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. ESOP shares are considered outstanding for this calculation unless unearned. Diluted earnings per common share is net income divided by the weighted average number of common shares outstanding during the period plus the dilutive effect of restricted stock shares and the additional potential shares issuable under stock options. Loss Contingencies : Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are such matters that will have a material effect on the financial statements as of December 31, 2016 . Restrictions on Cash : Cash on hand or on deposit with the Federal Reserve Bank that is required to meet regulatory reserve and clearing requirements. Fair Values of Financial Instruments : Fair values of financial instruments are estimated using relevant market value information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. Comprehensive Income : Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities, net of tax, which are also recognized as separate components of stockholders’ equity. Stock-based Compensation: Compensation cost is recognized for stock options and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. The Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. Transfers of Financial Assets: Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Operating Segments: While management monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating results are not reviewed by senior management to make resource allocation or performance decisions. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. Reclassifications : Certain reclassifications have been made in the prior year’s financial statements to conform to the current year’s presentation. Recent Accounting Pronouncements In May 2014, the FASB issued an update (ASU No. 2014-09, Revenue from Contracts with Customers) creating FASB Topic 606, Revenue from Contracts with Customers. The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update to become effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. Our preliminary finding is that the new pronouncement will not have a significant impact on the consolidated financial statements as the majority of our business transactions will not be subject to this pronouncement. On January 5, 2016, the FASB issued an update (ASU No. 2016-01, Financial Instruments - Recognition and Measurement of Financial Assets and Liabilities). The new guidance is intended to improve the recognition and measurement of financial instruments by requiring: equity investments (other than equity method or consolidation) to be measured at fair value with changes in fair value recognized in net income; public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; separate presentation of financial assets and financial liabilities by measurement category and form of financial assets ( i.e. securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; eliminating the requirement for non-public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is to be required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and requiring a reporting organization to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from the change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance is effective for public business entities for fiscal years beginning after December 15, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. Our preliminary finding is that the new pronouncement will not have a significant impact on our Statement of Operations. The pronouncement will require some revision to our disclosures within the consolidated financial statements and we are currently evaluating the impact. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The standard requires a lessee to recognize assets and liabilities on the balance sheet for leases with lease terms greater than 12 months. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. We are currently evaluating the impact that the standard will have on our consolidated financial statements. Our preliminary finding is that the new pronouncement will not have a significant impact on our consolidated financial statements as the projected minimum lease payments under existing leases subject to the new pronouncement are less than one percent of our current total assets. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Com |
Earnings Per Share (Notes)
Earnings Per Share (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Amounts reported in earnings per share reflect net income available to common stockholders for the period divided by the weighted average number of shares of common stock outstanding during the period, exclusive of unearned ESOP shares and unvested restricted stock shares. Stock options and restricted stock are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent that they would have a dilutive effect if converted to common stock. For the years ended December 31, 2016 2015 2014 Net income available to common stockholders $ 7,502 $ 8,675 $ 40,614 Average common shares outstanding 19,673,416 20,708,775 21,101,966 Less: Unearned ESOP shares (682,362 ) (780,227 ) (905,235 ) Unvested restricted stock shares (3,103 ) (10,545 ) (19,460 ) Weighted average common shares outstanding 18,987,951 19,918,003 20,177,271 Add - Net effect of dilutive stock options and unvested restricted stock 59,188 3,516 9,105 Weighted average dilutive common shares outstanding 19,047,139 19,921,519 20,186,376 Basic earnings per common share $ 0.40 $ 0.44 $ 2.01 Diluted earnings per common share $ 0.39 $ 0.44 $ 2.01 Number of antidilutive stock options excluded from the diluted earnings per share calculation 536,459 536,459 — Weighted average exercise price of anti-dilutive option shares $ 12.99 $ 12.99 $ — |
Securities (Notes)
Securities (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2016 Certificates of deposit $ 85,938 $ — $ — $ 85,938 Equity mutual fund 500 — (1 ) 499 Mortgage-backed securities - residential 14,561 644 (21 ) 15,184 Collateralized mortgage obligations - residential 5,587 15 (28 ) 5,574 SBA-guaranteed loan participation certificates 17 — — 17 $ 106,603 $ 659 $ (50 ) $ 107,212 December 31, 2015 Certificates of deposit $ 87,901 $ — $ — $ 87,901 Equity mutual fund 500 7 — 507 Mortgage-backed securities - residential 18,330 880 (30 ) 19,180 Collateralized mortgage obligations - residential 7,111 41 (10 ) 7,142 SBA-guaranteed loan participation certificates 23 — — 23 $ 113,865 $ 928 $ (40 ) $ 114,753 Mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities and agencies, Freddie Mac, Fannie Mae and Ginnie Mae, and are obligations which the government has affirmed its commitment to support. All securities reflected in the preceding table were classified as available-for-sale at December 31, 2016 and 2015 . The amortized cost and fair values of securities at December 31, 2016 by contractual maturity are shown below. Securities not due at a single maturity date are shown separately. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. December 31, 2016 Amortized Cost Fair Value Due in one year or less $ 85,938 $ 85,938 Mortgage-backed securities - residential 14,561 15,184 Collateralized mortgage obligations - residential 5,587 5,574 SBA-guaranteed loan participation certificates 17 17 $ 106,103 $ 106,713 Investment securities available for sale with carrying amounts of $4.7 million and $6.0 million at December 31, 2016 and 2015 , respectively, were pledged as collateral on customer repurchase agreements and for other purposes as required or permitted by law. Sales of securities were as follows: For the years ended December 31, 2016 2015 2014 Proceeds $ 46 $ — $ 3,663 Gross gains 46 — — Gross losses — — 7 Securities with unrealized losses at December 31, 2016 and 2015 not recognized in income are as follows: Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2016 Equity mutual fund $ 499 $ (1 ) $ — $ — $ 499 $ (1 ) Mortgage-backed securities - residential 1,187 (21 ) — — 1,187 (21 ) Collateralized mortgage obligations - residential 3,691 (18 ) 1,028 (10 ) 4,719 (28 ) $ 5,377 $ (40 ) $ 1,028 $ (10 ) $ 6,405 $ (50 ) December 31, 2015 Mortgage-backed securities - residential $ — $ — $ 1,724 $ (30 ) $ 1,724 $ (30 ) Collateralized mortgage obligations - residential — — 1,299 (10 ) 1,299 (10 ) $ — $ — $ 3,023 $ (40 ) $ 3,023 $ (40 ) The Company evaluates marketable investment securities with significant declines in fair value on a quarterly basis to determine whether they should be considered other-than-temporarily impaired under current accounting guidance, which generally provides that if a marketable security is in an unrealized loss position, whether due to general market conditions or industry or issuer-specific factors, the holder of the securities must assess whether the impairment is other-than-temporary. An equity mutual fund and certain residential mortgage-backed securities and collateralized mortgage obligations that the Company holds in its investment portfolio were in an unrealized loss position at December 31, 2016 , but the unrealized loss was not considered significant under the Company’s impairment testing methodology. In addition, the Company does not intend to sell these securities, and it is not likely that the Company will be required to sell the securities before their anticipated recovery occurs. |
Loans Receivable (Notes)
Loans Receivable (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans Receivable | Loans receivable are as follows: December 31, 2016 2015 One-to-four family residential real estate $ 135,218 $ 159,501 Multi-family mortgage 542,887 506,026 Nonresidential real estate 182,152 226,735 Construction and land 1,302 1,313 Commercial loans 103,063 79,516 Commercial leases 352,539 265,405 Consumer 2,255 1,831 1,319,416 1,240,327 Net deferred loan origination costs 1,663 1,621 Allowance for loan losses (8,127 ) (9,691 ) Loans, net $ 1,312,952 $ 1,232,257 Loan Origination/Risk Management. The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. The Company reviews and approves these policies and procedures on a periodic basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans via trend and risk rating migration. The Company requires title insurance insuring the priority of our lien on real estate collateral, fire and extended coverage casualty insurance, and, if appropriate, flood insurance, in order to protect our security interest in the underlying real property. The majority of the loans the Company originates are investment and business loans (multi-family, nonresidential real estate, commercial, construction and land loans, and commercial leases). In addition, we originate one-to-four family residential mortgage loans and consumer loans, and purchase and sell loan participations from time-to-time. The following briefly describes our principal loan products. The Company originates real estate loans principally secured by first liens on nonresidential real estate. The nonresidential real estate properties are predominantly office buildings, light industrial buildings, shopping centers and mixed-use developments and, to a lesser extent, more specialized properties such as nursing homes and other healthcare facilities. The Company may, from time to time, purchase commercial real estate loan participations. Multi-family mortgage loans generally are secured by multi-family rental properties such as apartment buildings, including subsidized apartment units. In general, loan amounts range between $250,000 and $5.0 million . Approximately 46.5% of the collateral is located outside of our primary market area; however, we do not have a concentration in any single market outside of our primary market area. In underwriting multi-family mortgage loans, the Company considers a number of factors, which include the projected net cash flow to the loan’s debt service requirement (generally requiring a minimum ratio of 120% ), the age and condition of the collateral, the financial resources and income level of the borrower, the borrower’s experience in owning or managing similar properties and, proximity to diverse employment opportunities. Multi-family mortgage loans are generally originated in amounts up to 80% of the appraised value of the property securing the loan. Personal guarantees are usually obtained on multi-family mortgage loans if the borrower/property owner is a legal entity. Loans secured by multi-family mortgages generally involve a greater degree of credit risk than one-to four-family residential mortgage loans and carry larger loan balances. This increased credit risk is a result of several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income producing properties, and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family mortgages typically depends upon the successful operation of the related real estate property. If the cash flow from the project is reduced below acceptable thresholds, the borrower’s ability to repay the loan may be impaired. The Company emphasizes nonresidential real estate loans with initial principal balances between $250,000 and $3.0 million . Substantially all of our nonresidential real estate loans are secured by properties located in our primary market area. The Company’s nonresidential real estate loans are generally written as three - or five -year adjustable-rate mortgages or mortgages with balloon maturities of three or five years. Amortization on these loans is typically based on 20 - to 30 -year schedules. The Company also originates some 15 -year fixed-rate, fully amortizing loans. In the underwriting of nonresidential real estate loans, the Company generally lends up to 80% of the property’s appraised value. Decisions to lend are based on the economic viability of the property as the primary source of repayment and the creditworthiness of the borrower. In evaluating a proposed commercial real estate loan, we emphasize the ratio of the property’s projected net cash flow to the loan’s debt service requirement (generally requiring a minimum ratio of 120% ), computed after deduction for a vacancy factor and property expenses we deem appropriate. Personal guarantees are usually pursued and obtained from nonresidential real estate borrowers. Nonresidential real estate loans generally carry higher interest rates and have shorter terms than one-to four-family residential mortgage loans. Nonresidential real estate loans, however, entail significant additional credit risks compared to one-to four-family residential mortgage loans, as they typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment of loans secured by income-producing properties typically depends on the successful operation of the related real estate project and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. The Company makes various types of secured and unsecured commercial loans to customers in our market area for the purpose of financing equipment acquisition, expansion, working capital and other general business purposes. The terms of these loans generally range from less than one year to five years. The loans are either negotiated on a fixed-rate basis or carry adjustable interest rates indexed to (i) a lending rate that is determined internally, or (ii) a short-term market rate index. Commercial credit decisions are based upon our credit assessment of the loan applicant. The Company determines the applicant’s ability to repay in accordance with the proposed terms of the loans and we assess the risks involved. An evaluation is made of the applicant to determine character and capacity to manage. Personal guarantees of the principals are pursued and usually obtained. In addition to evaluating the loan applicant’s financial statements, we consider the adequacy of the primary and secondary sources of repayment for the loan. Credit agency reports of the applicant’s credit history supplement our analysis of the applicant’s creditworthiness and at times are supplemented with inquiries to other banks and trade investigations. Moreover, assets listed on personal financial statements are verified. Collateral supporting a secured transaction also is analyzed to determine its marketability. Commercial business loans generally have higher interest rates than residential loans of like duration because they have a higher risk of default since their repayment generally depends on the successful operation of the borrower’s business and the sufficiency of any collateral. Pricing of commercial loans is based primarily on the credit risk of the borrower, with due consideration given to borrowers with appropriate deposit relationships. The Company also lends money to small and mid-size leasing companies for equipment financing leases. Generally, commercial leases are secured by an assignment by the leasing company of the lease payments and by a secured interest in the equipment being leased. In most cases, the lessee acknowledges our security interest in the leased equipment and agrees to send lease payments directly to us. Consequently, the Company underwrites lease loans by examining the creditworthiness of the lessee rather than the lessor. Lease loans generally are non-recourse to the leasing company. The Company’s commercial leases are secured primarily by technology equipment, medical equipment, material handling equipment and other capital equipment. Lessees tend to be publicly-traded companies with investment-grade rated debt or companies that have not issued public debt and therefore do not have a public debt rating. The Company requires that a minimum of 50% of our commercial lessees have an investment-grade public debt rating by Moody’s or Standard & Poors, or the equivalent. Commercial leases to these entities have a maximum maturity of seven years and a maximum outstanding credit exposure of $15.0 million to any single entity. If the lessee does not have a public debt rating, they are subject to the same internal credit analysis as any other customer. Typically, commercial leases to these lessees have a maximum maturity of five years and a maximum outstanding credit exposure of $5.0 million to any single entity. In addition, the Company will originate commercial leases to lessees with below investment-grade public debt ratings and have a maximum outstanding credit exposure of $10.0 million to any single entity. Lease loans are almost always fully amortizing, with fixed interest rates. Although the Company does not actively originate construction and land loans presently, construction and land loans generally consist of land acquisition loans to help finance the purchase of land intended for further development, including single-family homes, multi-family housing and commercial income property, development loans to builders in our market area to finance improvements to real estate, consisting mostly of single-family subdivisions, typically to finance the cost of utilities, roads, sewers and other development costs. These builders generally rely on the sale of single-family homes to repay development loans, although in some cases the improved building lots may be sold to another builder, often in conjunction with development loans. Construction and land loans typically involve a higher degree of credit risk than financing on improved, owner-occupied real estate. The risk of loss on construction and land loans is largely dependent upon the accuracy of the initial appraisal of the property’s value upon completion of construction or development; the estimated cost of construction, including interest; and the estimated time to complete and/or sell or lease such property. In the event that the Company were to make any new construction and development loans, it would seek to minimize these risks by maintaining consistent lending policies and underwriting standards. However, if the estimate of value proves to be inaccurate, the cost of completion is greater than expected, the length of time to complete and/or sell or lease the collateral property is greater than anticipated, or if there is a downturn in the local economy or real estate market, the property could have a value upon completion that is insufficient to assure full repayment of the loan. This could have a material adverse effect on the quality of the construction and land loan portfolio, and could result in significant losses or delinquencies if that portfolio were ever to increase in size. The Company offers conforming and non-conforming, fixed-rate and adjustable-rate residential mortgage loans with maturities of up to 30 years and maximum loan amounts generally of up to $2.5 million . The Company currently offers fixed-rate conventional mortgage loans with terms of 10 to 30 years that are fully amortizing with monthly payments, and adjustable-rate conventional mortgage loans with initial terms of between one and five years that amortize up to 30 years. One-to four-family residential mortgage loans are generally underwritten according to Fannie Mae guidelines, and loans that conform to such guidelines are referred to as “conforming loans.” The Company generally originates both fixed- and adjustable-rate loans in amounts up to the maximum conforming loan limits as established by Fannie Mae, which is currently $424,100 for single-family homes. Private mortgage insurance is required for first mortgage loans with loan-to-value ratios in excess of 80% . The Company also originates loans above conforming limits, sometimes referred to as “jumbo loans,” that have been underwritten to the credit standards of Fannie Mae. These loans are generally eligible for sale to various firms that specialize in the purchase of such non-conforming loans. In the Chicago metropolitan area, larger residential loans are not uncommon. The Company also originates loans at higher rates that do not fully meet the credit standards of Fannie Mae but are deemed to be acceptable risks. The ability of the Company’s borrowers to repay their loans, and the value of the collateral securing such loans, could be adversely impacted by economic weakness in its local markets as a result of unemployment, declining real estate values, or increased residential and office vacancies. This not only could result in the Company experiencing charge-offs and/or nonperforming assets, but also could necessitate an increase in the provision for loan losses. These events, if they were to recur, would have an adverse impact on the Company’s results of operations and its capital. The following tables present the balance in the allowance for loan losses and the loans receivable by portfolio segment and based on impairment method: Allowance for loan losses Loan Balances Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total December 31, 2016 One-to-four family residential real estate $ — $ 1,168 $ 1,168 $ 4,962 $ 130,256 $ 135,218 Multi-family mortgage — 3,647 3,647 787 542,100 542,887 Nonresidential real estate 26 1,768 1,794 260 181,892 182,152 Construction and land — 32 32 — 1,302 1,302 Commercial loans — 733 733 — 103,063 103,063 Commercial leases — 714 714 — 352,539 352,539 Consumer — 39 39 — 2,255 2,255 $ 26 $ 8,101 $ 8,127 $ 6,009 $ 1,313,407 1,319,416 Net deferred loan origination costs 1,663 Allowance for loan losses (8,127 ) Loans, net $ 1,312,952 Allowance for loan losses Loan Balances Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total December 31, 2015 One-to-four family residential real estate $ — $ 1,704 $ 1,704 $ 2,672 $ 156,829 $ 159,501 Multi-family mortgage 41 3,569 3,610 2,879 503,147 506,026 Nonresidential real estate 3 2,579 2,582 2,099 224,636 226,735 Construction and land — 43 43 — 1,313 1,313 Commercial loans — 654 654 — 79,516 79,516 Commercial leases — 1,073 1,073 — 265,405 265,405 Consumer — 25 25 — 1,831 1,831 $ 44 $ 9,647 $ 9,691 $ 7,650 $ 1,232,677 1,240,327 Net deferred loan origination costs 1,621 Allowance for loan losses (9,691 ) Loans, net $ 1,232,257 Activity in the allowance for loan losses is as follows: For the years ended December 31, 2016 2015 2014 Beginning balance $ 9,691 $ 11,990 $ 14,154 Loans charged off: One-to-four family residential real estate (539 ) (386 ) (873 ) Multi-family mortgage (79 ) (198 ) (1,230 ) Nonresidential real estate (1,718 ) (391 ) (1,727 ) Construction and land — — (1 ) Commercial loans — (152 ) (123 ) Commercial leases — — (8 ) Consumer (25 ) (16 ) (12 ) (2,361 ) (1,143 ) (3,974 ) Recoveries: One-to-four family residential real estate 321 702 418 Multi-family mortgage 162 182 100 Nonresidential real estate 200 509 423 Construction and land 35 44 377 Commercial loans 309 611 1,225 Commercial leases 7 1 — Consumer 2 1 3 1,036 2,050 2,546 Net recoveries (charge-off) (1,325 ) 907 (1,428 ) Recovery of loan losses (239 ) (3,206 ) (736 ) Ending balance $ 8,127 $ 9,691 $ 11,990 Impaired loans Several of the following disclosures are presented by “recorded investment,” which the FASB defines as “the amount of the investment in a loan, which is not net of a valuation allowance, but which does reflect any direct write-down of the investment.” The following represents the components of recorded investment: Loan principal balance Less unapplied payments Plus negative unapplied balance Less escrow balance Plus negative escrow balance Plus unamortized net deferred loan costs Less unamortized net deferred loan fees Plus unamortized premium Less unamortized discount Less previous charge-offs Plus recorded accrued interest Less reserve for uncollected interest = Recorded investment The following tables present loans individually evaluated for impairment by class of loans: Loan Balance Recorded Investment Partial Charge-off Allowance for Loan Losses Allocated Average Investment in Impaired Loans Interest Income Recognized December 31, 2016 With no related allowance recorded One-to-four family residential real estate $ 5,379 $ 4,548 $ 886 $ — $ 2,947 $ 70 One-to-four family residential real estate - non-owner occupied 503 386 119 — 251 9 Multi-family mortgage 787 787 — — 980 41 6,669 5,721 1,005 — 4,178 120 With an allowance recorded Nonresidential real estate 262 260 21 26 164 — 262 260 21 26 164 — $ 6,931 $ 5,981 $ 1,026 $ 26 $ 4,342 $ 120 Loan Balance Recorded Investment Partial Charge-off Allowance for Loan Losses Allocated Average Investment in Impaired Loans Interest Income Recognized December 31, 2015 With no related allowance recorded One-to-four family residential real estate $ 3,203 $ 2,637 $ 637 $ — $ 2,708 $ 24 One-to-four family residential real estate - non-owner occupied 23 21 2 — 859 — Multi-family mortgage 1,863 1,837 — — 1,962 78 Wholesale commercial lending 511 507 — — 514 34 Nonresidential real estate 2,066 2,049 — — 1,877 102 7,666 7,051 639 — 7,920 238 With an allowance recorded Multi-family mortgage 518 518 — 41 1,181 — Nonresidential real estate 62 39 27 3 1,439 — 580 557 27 44 2,620 — $ 8,246 $ 7,608 $ 666 $ 44 $ 10,540 $ 238 Nonaccrual loans The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans: Loan Balance Recorded Investment Loans Past Due Over 90 Days, still accruing December 31, 2016 One-to-four family residential real estate $ 2,861 $ 2,483 $ — One-to-four family residential real estate – non owner occupied 428 368 — Multi-family mortgage 187 185 — Nonresidential real estate 262 260 — $ 3,738 $ 3,296 $ — December 31, 2015 One-to-four family residential real estate $ 2,704 $ 2,263 $ — One-to-four family residential real estate – non owner occupied 92 192 — Multi-family mortgage 829 821 — Nonresidential real estate 324 296 — $ 3,949 $ 3,572 $ — Nonaccrual loans and impaired loans are defined differently. Some loans may be included in both categories, and some may only be included in one category. Nonaccrual loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The Company’s reserve for uncollected loan interest was $199,000 and $181,000 at December 31, 2016 and 2015 , respectively. When a loan is on non-accrual status and the ultimate collectability of the total principal of an impaired loan is in doubt, all payments are applied to principal under the cost recovery method. Alternatively, when a loan is on non-accrual status but there is doubt concerning only the ultimate collectability of interest, contractual interest is credited to interest income only when received, under the cash basis method pursuant to the provisions of FASB ASC 310–10, as applicable. In all cases, the average balances are calculated based on the month–end balances of the financing receivables within the period reported pursuant to the provisions of FASB ASC 310–10, as applicable. Past Due Loans The following tables present the aging of the recorded investment in past due loans at December 31, 2016 by class of loans: 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Loans Not Past Due Total One-to-four family residential real estate $ 984 $ 335 $ 2,235 $ 3,554 $ 92,665 $ 96,219 One-to-four family residential real estate - non-owner occupied 664 114 368 1,146 37,179 38,325 Multi-family mortgage - Illinois 605 439 184 1,228 294,223 295,451 Multi-family mortgage - Other — — — — 243,944 243,944 Nonresidential real estate — — 260 260 178,644 178,904 Construction — — — — 950 950 Land — — — — 349 349 Commercial loans: Regional Commercial Banking — — — — 36,086 36,086 Health Care — — — — 35,455 35,455 Direct Commercial Lessor — — — — 31,847 31,847 Commercial leases: — Investment-grade 51 — — 51 269,430 269,481 Other — — — — 84,988 84,988 Consumer — — — — 2,263 2,263 Total $ 2,304 $ 888 $ 3,047 $ 6,239 $ 1,308,023 $ 1,314,262 The following tables present the aging of the recorded investment in past due loans as December 31, 2015 by class of loans: 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Loans Not Past Due Total One-to-four family residential real estate $ 2,000 $ 572 $ 1,997 $ 4,569 $ 109,893 $ 114,462 One-to-four family residential real estate - non-owner occupied 299 164 192 655 43,557 44,212 Multi-family mortgage - Illinois 651 283 821 1,755 312,620 314,375 Multi-family mortgage - Other — — — — 188,178 188,178 Nonresidential real estate — — 296 296 223,018 223,314 Construction — — — — 21 21 Land — — — — 1,279 1,279 Commercial loans: Regional Commercial Banking 4 150 — 154 29,890 30,044 Health Care — — — — 31,862 31,862 Direct Commercial Lessor — — — — 17,873 17,873 Commercial leases: — Investment-grade 50 363 — 413 170,859 171,272 Other — — — — 95,800 95,800 Consumer 21 — — 21 1,819 1,840 $ 3,025 $ 1,532 $ 3,306 $ 7,863 $ 1,226,669 $ 1,234,532 Troubled Debt Restructurings The Company evaluates loan extensions or modifications in accordance with FASB ASC 310–40 with respect to the classification of the loan as a TDR. In general, if the Company grants a loan extension or modification to a borrower for other than an insignificant period of time that includes a below–market interest rate, principal forgiveness, payment forbearance or other concession intended to minimize the economic loss to the Company, the loan extension or loan modification is classified as a TDR. In cases where borrowers are granted new terms that provide for a reduction of either interest or principal then due and payable, management measures any impairment on the restructured loan in the same manner as for impaired loans as noted above. The Company had $341,000 of TDRs at December 31, 2016 , compared to $2.7 million at December 31, 2015 , with no specific valuation reserves allocated at December 31, 2016 and 2015 . The Company had no outstanding commitments to borrowers whose loans are classified as TDRs. During the first quarter of 2016, 6 loans totaling $1.5 million were declassified as TDRs as they successfully met the regulatory criteria for removal from TDR status. The following table presents loans classified as TDRs: December 31, 2016 2015 One-to-four family residential real estate $ 205 $ 1,385 Multi-family mortgage — 1,119 Accrual troubled debt restructured loans 205 2,504 One-to-four family residential real estate 136 174 Nonaccrual troubled debt restructured loans 136 174 $ 341 $ 2,678 During the years ending December 31, 2016 and 2015 , the terms of certain loans were modified and classified as TDRs. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. The following tables present TDRs that occurred during the year: For the years ended December 31, 2016 2015 Number of loans Pre- Modification outstanding recorded investment Post- Modification outstanding recorded investment Number of loans Pre- Modification outstanding recorded investment Post- Modification outstanding recorded investment One-to-four family residential real estate 1 $ 63 $ 63 6 $ 401 $ 274 Multi-family mortgage — — — 1 615 615 1 $ 63 $ 63 7 $ 1,016 $ 889 Due to reduction in interest rate Due to extension of maturity date Due to permanent reduction in recorded investment Total For the year ended December 31, 2016 One-to-four family residential real estate $ — $ 63 $ — $ 63 For the year ended December 31, 2015 One-to-four family residential real estate $ — $ 142 $ 132 $ 274 Commercial loans - secured — 615 — 615 $ — $ 757 $ 132 $ 889 The TDRs described in the above tables had no material impact on interest income, resulted in no change to the allowance for loan losses allocated and resulted in no charge offs for the year ended December 31, 2016 . The TDRs described above had no impact on interest income, resulted in no change to the allowance for loan losses and resulted in charge offs of $127,000 for the year ended December 31, 2015 . The following table presents TDRs for which there was a payment default within twelve months following the modification: For the years ended December 31, 2016 2015 Number of loans Recorded investment Number of loans Recorded investment One-to-four family residential real estate 2 $ 87 2 $ 43 A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. The TDRs that subsequently defaulted described above had no material impact on the allowance for loans losses during the years ending December 31, 2016 and 2015 . The terms of certain other loans were modified during the year ending December 31, 2016 in circumstances that did not meet the definition of a TDR. These loans have a total recorded investment of $868,000 and $1.9 million at December 31, 2016 and 2015 . The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under 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, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans based on credit risk. This analysis includes non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a monthly basis. The Company uses the following definitions for risk ratings: Special Mention. A Special Mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special Mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Substandard. Loans categorized as substandard continue to accrue interest, but exhibit a well-defined weakness or weaknesses that may jeopardize the liquidation of the debt. The loans continue to accrue interest because they are well secured and collection of principal and interest is expected within a reasonable time. The risk rating guidance published by the Office of the Comptroller of the Currency clarifies that a loan with a well-defined weakness does not have to present a probability of default for the loan to be rated Substandard, and that an individual loan’s loss potential does not have to be distinct for the loan to be rated Substandard. Nonaccrual. An asset classified Nonaccrual has all the weaknesses inherent in one classified 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. The loans were placed on nonaccrual status. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered “Pass” rated loans. As of December 31, 2016 , and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate $ 93,514 $ — $ 629 $ 2,486 $ 96,629 One-to-four family residential real estate - non-owner occupied 38,179 — 41 369 38,589 Multi-family mortgage - Illinois 297,826 122 1,048 187 299,183 Multi-family mortgage - Other 243,704 — — — 243,704 Nonresidential real estate 180,047 — 1,845 260 182,152 Construction 946 — — — 946 Land 356 — — — 356 Commercial loans: Regional commercial banking 35,944 — 66 — 36,010 Health care 35,372 — — — 35,372 Direct commercial lessor 30,881 800 — — 31,681 Commercial leases: Investment-grade 268,022 — — — 268,022 Other 84,356 161 — — 84,517 Consumer 2,255 — — — 2,255 $ 1,311,402 $ 1,083 $ 3,629 $ 3,302 $ 1,319,416 As of December 31, 2015 , and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate $ 112,449 $ — $ 576 $ 1,936 $ 114,961 One-to-four family residential real estate - non-owner occupied 43,858 219 271 192 44,540 Multi-family mortgage - Illinois 312,329 344 4,656 828 318,157 Multi-family mortgage - Other 187,358 — 511 — 187,869 Nonresidential real estate 219,859 1,600 4,981 295 226,735 Construction 21 — — — 21 Land 450 — 842 — 1,292 Commercial loans: Regional commercial banking 29,377 — 614 — 29,991 Health care 31,809 — — — 31,809 Direct commercial lessor 17,716 — — — 17,716 Commercial leases: Investment-grade 170,100 — — — 170,100 Other 95,305 — — — 95,305 Consumer 1,831 — — — 1,831 $ 1,222,462 $ 2,163 $ 12,451 $ 3,251 $ 1,240,327 |
Other Real Estate (Notes)
Other Real Estate (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Other Real Estate Owned [Abstract] | |
Other Real Estate Owned | Real estate that is acquired through foreclosure or a deed in lieu of foreclosure is classified as OREO until it is sold. When real estate is acquired through foreclosure or by deed in lieu of foreclosure, it is recorded at its fair value, less the estimated costs of disposal. If the fair value of the property is less than the loan balance, the difference is charged against the allowance for loan losses. The following represents the roll forward of OREO and the composition of OREO properties. At and For the Years Ended December 31, 2016 2015 Beginning balance $ 7,011 $ 6,358 New foreclosed properties 1,251 5,875 Valuation adjustments (314 ) (548 ) Sales (4,053 ) (4,674 ) Ending balance $ 3,895 $ 7,011 December 31, 2016 December 31, 2015 Balance Valuation Allowance Net OREO Balance Balance Valuation Allowance Net OREO Balance One–to–four family residential $ 1,702 $ (137 ) $ 1,565 $ 2,684 $ (63 ) $ 2,621 Multi-family mortgage 370 — 370 1,025 (74 ) 951 Nonresidential real estate 1,171 (105 ) 1,066 1,986 (239 ) 1,747 Land 1,101 (207 ) 894 2,358 (666 ) 1,692 $ 4,344 $ (449 ) $ 3,895 $ 8,053 $ (1,042 ) $ 7,011 Activity in the valuation allowance is as follows: At and For the Years Ended December 31, 2016 2015 Beginning of year $ 1,042 $ 896 Additions charged to expense 314 548 Reductions from sales of other real estate owned (907 ) (402 ) End of year $ 449 $ 1,042 At December 31, 2016 and 2015, the balance of OREO includes no foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property without title. At December 31, 2016 and 2015 , the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceeds are in process was $1.6 million and $1.8 million , respectively. |
Premises and Equipment (Notes)
Premises and Equipment (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant, Equipment And Leases [Abstract] | |
Premises and Equipment | Year end premises and equipment are as follows: December 31, 2016 2015 Land and land improvements $ 13,820 $ 13,594 Buildings and improvements 37,416 37,316 Furniture and equipment 9,660 9,693 Computer equipment 4,058 7,224 64,954 67,827 Accumulated depreciation (33,541 ) (35,101 ) $ 31,413 $ 32,726 Depreciation of premises and equipment was $2.0 million , $2.1 million and $2.2 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company leases certain branch facilities under non-cancelable operating lease agreements expiring in various years through 2032. Rent expense, net of sublease income, for facilities was $399,000 , $393,000 , and $387,000 in 2016 , 2015 , and 2014 , respectively, excluding taxes, insurance, and maintenance. The projected minimum rental expense under existing leases, not including taxes, insurance, and maintenance, as of December 31, 2016 is as follows: 2017 $ 469 2018 479 2019 471 2020 459 2021 464 Thereafter 4,243 $ 6,585 The Company has subleased some of its branch facilities and currently is entitled to receive income as follows: 2017 $ 8 |
Core Deposit Intangible (Notes)
Core Deposit Intangible (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Core Deposit Intangible | The following table presents the changes in the carrying amount of core deposit intangible, gross carrying amount, accumulated amortization, and net book value: December 31, 2016 2015 Balance at the beginning of the year $ 1,305 $ 1,855 Amortization (523 ) (550 ) Additions — — Net Carrying Value $ 782 $ 1,305 Gross carrying amount $ 5,932 $ 5,932 Accumulated amortization (5,150 ) (4,627 ) Net Carrying Value $ 782 $ 1,305 Aggregate amortization expense was $523,000 , $550,000 and $578,000 for 2016 , 2015 and 2014 , respectively. Estimated amortization expense for each of the next five years is as follows: 2017 $ 496 2018 184 2019 61 2020 34 2021 7 |
Deposits (Notes)
Deposits (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Deposits [Abstract] | |
Deposits | Composition of deposits is as follows: December 31, 2016 2015 Noninterest-bearing demand deposits $ 249,539 $ 254,830 Savings deposits 160,002 156,752 Money market accounts 311,183 329,654 Interest-bearing NOW accounts 267,054 248,982 Certificates of deposit 351,612 222,701 $ 1,339,390 $ 1,212,919 Time deposits that meet or exceed the FDIC Insurance limit of $250,000 were $18.7 million and $15.2 million at December 31, 2016 and 2015 , respectively. Scheduled maturities of certificates of deposit for the next five years are as follows: 2017 $ 236,859 2018 79,166 2019 19,508 2020 7,650 2021 8,429 |
Borrowings (Notes)
Borrowings (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Borrowings | Year-end borrowed funds are as follows: December 31, 2016 2015 Contractual Rate Amount Contractual Rate Amount Fixed-rate advance from FHLBC, due within 1 year 0.67 % $ 50,000 0.29 % $ 62,000 Securities sold under agreements to repurchase 0.25 1,069 0.25 2,318 0.66 % $ 51,069 0.28 % $ 64,318 The Company maintains a collateral pledge agreement covering secured advances whereby the Company has agreed to keep on hand, free of all other pledges, liens, and encumbrances, specifically identified whole first mortgages on improved residential property not more than 90-days delinquent to secure advances from the FHLBC. All of the Bank’s FHLBC common stock is pledged as additional collateral for these advances. At December 31, 2016 , $80.1 million and $354.3 million of first mortgage and multi-family mortgage loans, respectively, collateralized potential advances. At December 31, 2016 , we had the ability to borrow an additional $357.4 million under our credit facilities with the FHLBC. The Company also had available pre-approved overnight federal funds borrowing. At December 31, 2016 and 2015 , there was no outstanding balance on these lines. |
Income Taxes (Notes)
Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | The income tax expense (benefit) is as follows: For the years ended December 31, 2016 2015 2014 Current $ 308 $ 346 $ 363 Deferred expense (benefit) 4,390 5,079 3,437 Deferred tax valuation allowance — — (35,117 ) Total income tax expense (benefit) $ 4,698 $ 5,425 $ (31,317 ) A reconciliation of the provision for income taxes computed at the statutory federal corporate tax rate of 34% for 2016 , 2015 and 2014 to the income tax expense (benefit) in the consolidated statements of operations follows: For the years ended December 31, 2016 2015 2014 Expense computed at the statutory federal tax rate $ 4,148 $ 4,794 $ 3,161 State taxes and other, net 464 626 664 Bank owned life insurance (70 ) (66 ) (80 ) ESOP/Share based compensation 156 71 55 Deferred tax valuation allowance — — (35,117 ) $ 4,698 $ 5,425 $ (31,317 ) Effective income tax rate 38.51 % 38.48 % N.M. N.M. Not Meaningful Retained earnings at December 31, 2016 and 2015 include $14.9 million for which no deferred federal income tax liability has been recorded. This amount represents an allocation of income to bad debt deductions for tax purposes alone. The net deferred tax asset is as follows: December 31, 2016 2015 Gross Deferred tax assets Allowance for loan losses $ 3,117 $ 3,716 Alternative minimum tax, general business credit and net operating loss carryforwards 20,857 24,799 Tax deductible goodwill and core deposit intangible 1,466 1,783 Other 2,540 2,237 27,980 32,535 Gross Deferred tax liabilities Net deferred loan origination costs (1,874 ) (1,811 ) Purchase accounting adjustments (2,644 ) (2,801 ) Other (817 ) (888 ) Unrealized gain on securities (234 ) (340 ) (5,569 ) (5,840 ) $ 22,411 $ 26,695 As of December 31, 2016 and 2015 , the Company’s net deferred tax asset (“DTA”) was $22.4 million and $26.7 million , respectively. A DTA valuation allowance is required under ASC 740 when the realization of a DTA is assessed and the assessment indicates that it is “more likely than not” ( i.e. more than 50% likely) that all or a portion of the DTA will not be realized. All available evidence, both positive and negative must be considered to determine whether, based on the weight of that evidence, a valuation allowance against the net DTA is required. Objectively verifiable evidence is assigned greater weight than evidence that is not objectively verifiable. The valuation allowance is analyzed quarterly for changes affecting the DTA. The Company reversed its DTA valuation allowance as of December 31, 2014 based on management’s determination that it is more likely than not that the Company will be able to utilize the entire DTA and that maintaining a valuation allowance for the DTA was no longer warranted under ASC 740. Accordingly, the valuation allowance for the DTA was reversed and the Company recorded an associated tax benefit of $35.1 million in 2014. The Company’s ability to realize the DTA is dependent upon the generation of future taxable income during the periods in which the tax attributes underlying the DTA become deductible. The amount of the DTA that will ultimately be realized will be impacted by the Company’s future taxable income, any changes to the many variables that could impact future taxable income and the then applicable corporate tax rate. As of December 31, 2016 and 2015 , management determined that it is more likely than not that the Company will be able to utilize the entire DTA. This could change if the U.S. Congress were to enact legislative changes that materially reduce the federal corporate income tax rate. At December 31, 2016 , the Company had a federal net operating loss carryforward of $34.2 million , which will begin to expire in 2032, a federal tax credit carryforward of $1.3 million which will begin to expire in 2022, a $3.1 million alternative minimum tax credit carryforward that can be carried forward indefinitely, and a $29.7 million federal alternative minimum tax net operating loss carryforward which will begin to expire in 2032. In addition, at December 31, 2016 the Company had a federal net operating loss carryforward relating to its acquisition of Downers Grove National Bank, which is subject to utilization limitations under Section 382 of the Internal Revenue Code, of $7.8 million which will begin to expire in 2030. At December 31, 2016 , the Company had a state net operating loss carryforward for the State of Illinois of $77.9 million , which will begin to expire in 2022. Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2016 2015 Beginning of year $ 108 $ 79 Additions based on tax positions related to the current year — — Additions for tax positions of prior years — 29 Reductions due to the statute of limitations and reductions for tax positions of prior years (51 ) — End of year $ 57 $ 108 The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. At December 31, 2016 and 2015 , the Company has immaterial amounts accrued for potential interest and penalties. The Company and its subsidiary are subject to U.S. federal income tax as well as income tax of the various states where the Company does business. The Company is no longer subject to examination by the federal taxing authorities for years before 2013 and the Illinois taxing authorities for years before 2013. |
Regulatory Matters (Notes)
Regulatory Matters (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | Actual and required capital amounts and ratios were: Actual Required for Capital Adequacy Purposes To be Well-Capitalized under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2016 Total capital (to risk-weighted assets): Consolidated $ 193,845 16.96 % $ 91,414 8.00 % N/A N/A BankFinancial, NA 168,113 14.72 91,386 8.00 $ 114,232 10.00 % Tier 1 (core) capital (to risk-weighted assets): Consolidated 185,718 16.25 68,560 6.00 N/A N/A BankFinancial, NA 159,986 14.01 68,539 6.00 91,386 8.00 Common Tier 1 (CET1) Consolidated 185,718 16.25 51,420 4.50 N/A N/A BankFinancial, NA 159,986 14.01 51,404 4.50 74,251 6.50 Tier 1 (core) capital (to adjusted average total assets): Consolidated 185,718 11.92 62,306 4.00 N/A N/A BankFinancial, NA 159,986 10.27 62,303 4.00 77,879 5.00 December 31, 2015 Total capital (to risk-weighted assets): Consolidated $ 198,738 17.89 % $ 88,898 8.00 % N/A N/A BankFinancial, F.S.B. 171,239 15.41 88,881 8.00 $ 111,102 10.00 % Tier 1 (core) capital (to risk-weighted assets): Consolidated 189,044 17.01 66,674 6.00 N/A N/A BankFinancial, F.S.B. 161,545 14.54 66,661 6.00 88,881 8.00 Common Tier 1 (CET1) Consolidated 189,044 17.01 50,005 4.50 N/A N/A BankFinancial, F.S.B. 161,545 14.54 49,996 4.50 72,216 6.50 Tier 1 (core) capital (to adjusted average total assets): Consolidated 189,044 13.26 57,043 4.00 N/A N/A BankFinancial, F.S.B. 161,545 11.33 57,039 4.00 71,299 5.00 The Company and the Bank have each adopted Regulatory Capital Plans that require the Bank to maintain a Tier 1 leverage ratio of at least 7.5% and a total risk-based capital ratio of at least 10.5% (including the Capital Conservation Buffer ("CCB")). The minimum capital ratios set forth in the Regulatory Capital Plans will be increased and other minimum capital requirements will be established if and as necessary. In accordance with the Regulatory Capital Plans, neither the Company nor the Bank will pursue any acquisition or growth opportunity, declare any dividend or conduct any stock repurchase that would cause the Bank's total risk-based capital ratio and/or its Tier 1 leverage ratio to fall below the established minimum capital levels or the capital levels required for capital adequacy plus the CCB. The minimum CCB in 2016 is 0.625% and will increase 0.625% annually through 2019 to 2.5%. In addition, the Company will continue to maintain its ability to serve as a source of financial strength to the Bank by holding at least $5.0 million of cash or liquid assets for that purpose. As of December 31, 2016 , the Bank and the Company were well-capitalized, with all capital ratios exceeding the well-capitalized requirement. There are no conditions or events that management believes have changed the Bank’s prompt corrective action capitalization category. The Bank is subject to regulatory restrictions on the amount of dividends it may declare and pay to the Company without prior regulatory approval, and to regulatory notification requirements for dividends that do not require prior regulatory approval. |
Employee Benefit Plans (Notes)
Employee Benefit Plans (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefit Plans | Employee Stock Ownership Plan . Employees are eligible to participate in the ESOP after attainment of age 21 and completion of one year of service. In connection with the conversion and reorganization, the ESOP borrowed $19.6 million from the Company, and used the proceeds of the loan to purchase 1,957,300 shares of common stock issued in the subscription offering at $10.00 per share. The loan is secured by the shares and will be repaid by the ESOP with funds from the Bank’s discretionary contributions to the ESOP and earnings on ESOP assets. The Bank has committed to make discretionary contributions to the ESOP sufficient to service the loan over a period not to exceed 20 years . When loan payments are made, ESOP shares are allocated to participants based on relative compensation and expense is recorded. Participants receive their earned shares at the end of employment. Contributions to the ESOP were $1.5 million for the years ended December 31, 2016 and 2015 , including dividends and interest received on unallocated shares of $195,000 and $206,000 in 2016 and 2015 , respectively. Expense related to the ESOP, net of dividends and interest received on unallocated ESOP shares, was $1.3 million , $1.0 million and $1.1 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Shares held by the ESOP were as follows: December 31, 2016 2015 Allocated to participants 1,125,448 1,027,583 Distributed to participants (313,223 ) (281,387 ) Unearned 831,852 929,717 Total ESOP shares 1,644,077 1,675,913 Fair value of unearned shares $ 12,328 $ 11,742 Profit Sharing Plan/401(k) Plan . The Company has a defined contribution plan (“profit sharing plan”) covering all of its eligible employees. Employees are eligible to participate in the profit sharing plan after attainment of age 21 and completion of one year of service. The Company provides a match of $ 0.50 on each $1.00 of contribution up to 6% of eligible compensation beginning April 1, 2007. The Company may also contribute an additional amount annually at the discretion of the Board of Directors. Contributions totaling $330,000 , $308,000 , and $348,000 were made for the years ended December 31, 2016 , 2015 and 2014 , respectively. |
Equity Incentive Plans (Notes)
Equity Incentive Plans (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plans | On June 27, 2006, the Company’s stockholders approved the BankFinancial Corporation 2006 Equity Incentive Plan, which authorized the Human Resources Committee of the Board of Directors of the Company to grant a variety of cash- and equity-based incentive awards, including stock options, stock appreciation rights, restricted stock, performance shares and other incentive awards, to employees and directors aggregating up to 3,425,275 shares of the Company’s common stock. The Plan provided that no awards may be granted under the Plan after the ten years anniversary of the Effective Date, thus no further awards will be granted. The Human Resources Committee may grant stock options to purchase shares of the Company’s common stock to certain employees and directors of the Company. The exercise price for the stock options is the fair market value of the common stock on the dates of the grants. The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the table below. The risk-free interest rate was determined using the yield available on the option grant date for a zero-coupon U.S. Treasury security with a term equivalent to the expected life of the option. The expected life for options granted represents the period the option is expected to be outstanding and was determined by applying the simplified method as allowed by SAB 107. The expected volatility for options issued in 2015 was determined using the Company’s historical data. Estimated forfeitures were assumed to be zero due to the lack of historical experience for the Company. During 2015, the Company awarded a total of 1,752,156 stock options to officers and directors. There were no grants issued in 2016 . The Company estimated the grant date fair value of options awarded in 2015 using Black-Scholes Option-Pricing model with the following assumptions: 2015 Assumptions Risk-free interest rate 0.60 % Expected option life (years) 1.27 Expected stock price volatility 17.28 % Dividend yield 1.299 % The stock options generally vest annually over a one year period; vesting is subject to acceleration in certain circumstances. The stock options will expire if not exercised within two years from the date of grant. The Company recognized $979,000 and $568,000 of stock-based compensation expenses relating to the granting of stock options for the year ended December 31, 2016 and 2015 . There was no expense for the year ended December 31, 2014 . As of December 31, 2016 , there were 1,752,156 stock options outstanding. There are no stock options available for grant at December 31, 2016 . A summary of the activity in the stock option plan for 2016 follows: Stock Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (1) Stock options outstanding at December 31, 2014 — $ — $ — Stock options granted 1,752,156 12.30 Stock options exercised — — Stock options expired — — Stock options forfeited — — Stock options outstanding at December 31, 2015 1,752,156 $ 12.30 1.48 $ 778 Stock options granted — — Stock options exercised — — Stock options expired — — Stock options forfeited — — Stock options outstanding at December 31, 2016 1,752,156 $ 12.30 0.48 $ 4,422 Stock options exercisable at December 31, 2016 1,752,156 12.30 0.48 4,422 Fully vested and expected to vest 1,752,156 12.30 0.48 4,422 (1) Stock option aggregate intrinsic value represents the number of shares subject to options multiplied by the difference (if positive) in the closing market price of the common stock underlying the options on the date shown and the weighted average exercise price. The weighted average fair value of the options granted is $0.88 per option. As of December 31, 2016 , there was no unrecognized compensation cost related to the nonvested stock options granted under the Plan. The Human Resources Committee of the Board of Directors may grant shares of restricted stock to certain employees and directors of the Company. The awards generally vest annually over varying periods from three to five years and vesting is subject to acceleration in certain circumstances. The cost of such awards will be accrued ratably as compensation expense over such respective periods based on expected vesting dates. The Company recognized $3,000 , $70,000 , and $70,000 of expenses relating to the grant of shares of restricted stock during the years ended December 31, 2016 , 2015 and 2014 , respectively. As of December 31, 2016 , the total unrecognized compensation cost related to unvested shares of restricted stock was $8,000 . The cost is expected to be recognized over a weighted average period of 9.1 months. There are no shares of restricted stock available for grant at December 31, 2016 . Restricted Stock Number of Shares (1) Weighted Average Fair Value at Grant Date Weighted Average Term to Vest (in years) Aggregate Intrinsic Value (2) Shares outstanding at January 1, 2015 16,822 $ 8.14 0.44 $ 199 Shares granted — — Shares vested (8,888 ) — Shares forfeited — — Shares outstanding at December 31, 2015 7,934 $ 8.14 0.31 $ 100 Shares granted — — Shares vested (6,994 ) — Shares forfeited — — Shares outstanding at December 31, 2016 940 $ 8.14 0.74 $ 14 (1) The end of period balances consist only of unvested shares. (2) Restricted stock aggregate intrinsic value represents the number of shares of restricted stock multiplied by the market price of the common stock underlying the outstanding shares on the date shown. |
Loan Commitments and Other Off-
Loan Commitments and Other Off-Balance Sheet Activities (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Loan Commitments and Other Off-Balance Sheet Activities | The Company is party to various financial instruments with off-balance-sheet risk. The Company uses these financial instruments in the normal course of business to meet the financing needs of customers and to effectively manage exposure to interest rate risk. These financial instruments include commitments to extend credit, standby letters of credit, unused lines of credit, and commitments to sell loans. When viewed in terms of the maximum exposure, those instruments may involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated statements of financial condition. Credit risk is the possibility that a counterparty to a financial instrument will be unable to perform its contractual obligations. Interest rate risk is the possibility that, due to changes in economic conditions, the Company’s net interest income will be adversely affected. The following is a summary of the contractual or notional amount of each significant class of off-balance-sheet financial instruments outstanding. The Company’s exposure to credit loss in the event of nonperformance by the counterparty for commitments to extend credit, standby letters of credit, and unused lines of credit is represented by the contractual notional amount of these instruments. The contractual or notional amounts are as follows: December 31, 2016 2015 Financial instruments wherein contractual amounts represent credit risk Commitments to extend credit $ 91,172 $ 52,322 Standby letters of credit 1,305 1,075 Unused lines of credit 125,332 126,333 Commitments to sell mortgages — 64 Commitments to extend credit are generally made for periods of 60 days or less. The fixed-rate loans commitment totaled $71.0 million with interest rates ranging from 0.50% to 6.00% and maturities ranging from 1 to 30 years. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customers. The Bank, as a member of Visa USA, received 51,404 unrestricted shares of Visa, Inc. Class B common stock in connection with Visa, Inc.’s initial public offering in 2007, and 32,398 additional shares of Class B common stock, due to a stock split, that were deposited into a litigation escrow that Visa, Inc. established under its retrospective responsibility plan. The retroactive responsibility plan obligates all former Visa USA members to indemnify Visa USA, in proportion to their equity interests in Visa USA, for certain litigation losses and expenses, including settlement expenses, for the lawsuits covered by the retrospective responsibility plan. The primary method for discharging the indemnification obligations under the retrospective responsibility plan is funding the litigation escrow through a reduction of the ratio at which the Visa, Inc. Class B shares can be converted into publicly traded Class A common shares of Visa, Inc. Since the Class B shares were issued, Visa, Inc. has reduced the conversion ratio to provide additional funding for the litigation escrow. Class B shares can only be transferred to other financial institutions until the underlying litigation is finally resolved, and the transfers that have occurred to date have involved material discounts. Due to the restrictions that the retrospective responsibility plan imposes on the Company’s Visa, Inc. Class B shares, the Company has not recorded the Class B shares as an asset. |
Fair Value (Notes)
Fair Value (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Fair value is the exchange price that would be received for an asset or 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 values: • 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 company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Securities : The fair values of marketable equity securities are generally determined by quoted prices, in active markets, for each specific security (Level 1). If Level 1 measurement inputs are not available for a marketable equity security, we determine its fair value based on the quoted price of a similar security traded in an active market (Level 2). The fair values of debt securities are generally determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally 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 for similar loans and collateral underlying such loans. 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 in accordance with the allowance policy. 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 which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach with data from comparable properties. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. The following table sets forth the Company’s financial assets that were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value December 31, 2016 Securities: Certificates of deposit $ — $ 85,938 $ — $ 85,938 Equity mutual fund 499 — — 499 Mortgage-backed securities – residential — 15,184 — 15,184 Collateralized mortgage obligations – residential — 5,574 — 5,574 SBA-guaranteed loan participation certificates — 17 — 17 $ 499 $ 106,713 $ — $ 107,212 December 31, 2015 Securities: Certificates of deposit $ — $ 87,901 $ — $ 87,901 Equity mutual fund 507 — — 507 Mortgage-backed securities - residential — 19,180 — 19,180 Collateralized mortgage obligations – residential — 7,142 — 7,142 SBA-guaranteed loan participation certificates — 23 — 23 $ 507 $ 114,246 $ — $ 114,753 The following table sets forth the Company’s assets that were measured at fair value on a non-recurring basis: Fair Value Measurement Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value December 31, 2016 Impaired loans: Nonresidential real estate $ — $ — $ 234 $ 234 Impaired loans $ — $ — $ 234 $ 234 Other real estate owned: One–to–four family residential real estate $ — $ — $ 1,282 $ 1,282 Nonresidential real estate — — 553 553 Land — — 47 47 Other real estate owned $ — $ — $ 1,882 $ 1,882 December 31, 2015 Impaired loans: Multi-family mortgage $ — $ — $ 477 $ 477 Nonresidential real estate — — 36 36 Impaired loans $ — $ — $ 513 $ 513 Other real estate owned: One–to–four family residential real estate $ — $ — $ 42 $ 42 Multi-family mortgage — — 354 354 Nonresidential real estate — — 474 474 Land — — 794 794 Other real estate owned $ — $ — $ 1,664 $ 1,664 Impaired loans, which are measured for impairment using the fair value of the collateral for collateral–dependent loans, had a carrying amount of $260,000 , with a valuation allowance of $26,000 at December 31, 2016 , compared to a carrying amount of $557,000 and a valuation allowance of $44,000 at December 31, 2015 , resulting in a decrease in the provision for loan losses of $18,000 for the year ended December 31, 2016 , compared to an decrease in the provision for loan losses of $426,000 for the year ended December 31, 2015 . OREO is carried at the lower of cost or fair value less costs to sell, had a carrying value of $2.3 million less a valuation allowance of $434,000 , or $1.9 million , at December 31, 2016 , compared to $2.5 million less a valuation allowance of $881,000 , or $1.7 million at December 31, 2015 . There were $314,000 and $548,000 of valuation allowance additions charged to expense of other real estate owned recorded for the years ended December 31, 2016 and 2015 , respectively. The following table presents quantitative information, based on certain empirical data with respect to Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2016 : Fair Value Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans Nonresidential real estate $ 234 Sales comparison Comparison between sales and income approaches -10.2% Income approach Cap Rate 8.5% $ 234 Other real estate owned One-to-four family residential real estate $ 1,282 Sales comparison Discount applied to valuation 8.62% to 20.04% Nonresidential real estate 553 Sales comparison Comparison between sales and income approaches -3.22% to 4.58% (3.7%) Land 47 Sales comparison Discount applied to valuation 5.74%-31.60% $ 1,882 The following table presents quantitative information, based on certain empirical data with respect to Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2015 : Fair Value Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans Multi-family mortgage $ 477 Sales comparison Comparison between sales and income approaches 39.3% Income approach Cap Rate 8.75% Nonresidential real estate 36 Sales comparison Comparison between sales and income approaches 1.2% $ 513 Other real estate owned One-to-four family residential real estate $ 42 Sales comparison Discount applied to valuation -0.35% to 2.8% Multi-family mortgage 354 Sales comparison Comparison between sales and income approaches -67.74% to 10.37% Nonresidential real estate 474 Sales comparison Comparison between sales and income approaches -15.6% to 1.46% (-5%) Land 794 Sales comparison Discount applied to valuation -7.7% to 17.24% (6%) $ 1,664 The carrying amount and estimated fair value of financial instruments is as follows: Fair Value Measurements at December 31, 2016 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 96,684 $ 13,053 $ 83,631 $ — $ 96,684 Securities 107,212 499 106,713 — 107,212 Loans receivable, net of allowance for loan losses 1,312,952 — 1,322,713 234 1,322,947 FHLBC and FRB stock 11,650 — — — N/A Accrued interest receivable 4,381 — 4,381 — 4,381 Financial liabilities Noninterest-bearing demand deposits $ 249,539 $ — $ 249,539 $ — $ 249,539 Savings deposits 160,002 — 160,002 — 160,002 NOW and money market accounts 578,237 — 578,237 — 578,237 Certificates of deposit 351,612 — 350,593 — 350,593 Borrowings 51,069 — 50,015 — 50,015 Accrued interest payable 102 — 102 — 102 Fair Value Measurements at December 31, 2015 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 59,377 $ 13,192 $ 46,185 $ — $ 59,377 Securities 114,753 507 114,246 — 114,753 Loans receivable, net of allowance for loan losses 1,232,257 — 1,240,791 513 1,241,304 FHLBC stock 6,257 — — — N/A Accrued interest receivable 4,226 — 4,226 — 4,226 Financial liabilities Noninterest-bearing demand deposits $ 254,830 $ — $ 254,830 $ — $ 254,830 Savings deposits 156,752 — 156,752 — 156,752 NOW and money market accounts 578,636 — 578,636 — 578,636 Certificates of deposit 222,701 — 222,026 — 222,026 Borrowings 64,318 — 64,318 — 64,318 Accrued interest payable 39 — 39 — 39 For purposes of the above, the following assumptions were used: Cash and Cash Equivalents : The estimated fair values for cash and cash equivalents are based on their carrying value due to the short-term nature of these assets. Loans : The estimated fair value for loans has been determined by calculating the present value of future cash flows based on the current rate the Company would charge for similar loans with similar maturities, applied for an estimated time period until the loan is assumed to be repriced or repaid. The methods utilized to estimate fair value of loans do not necessarily represent an exit price. The estimated fair values of loans held-for-sale are based on outstanding commitments from third-party investors. FHLBC and FRB Stock : It is not practicable to determine the fair value of FHLBC and FRB stock due to the restrictions placed on its transferability. Deposit Liabilities : The estimated fair value for certificates of deposit has been determined by calculating the present value of future cash flows based on estimates of rates the Company would pay on such deposits, applied for the time period until maturity. The estimated fair values of noninterest-bearing demand, NOW, money market, and savings deposits are assumed to approximate their carrying values as management establishes rates on these deposits at a level that approximates the local market area. Additionally, these deposits can be withdrawn on demand. Borrowings : The estimated fair values of advances from the FHLBC and notes payable are based on current market rates for similar financing. The estimated fair value of securities sold under agreements to repurchase is assumed to equal its carrying value due to the short-term nature of the liability. Accrued Interest : The estimated fair values of accrued interest receivable and payable are assumed to equal their carrying value. Off - Balance-Sheet Instruments : Off-balance-sheet items consist principally of unfunded loan commitments, standby letters of credit, and unused lines of credit. The estimated fair values of unfunded loan commitments, standby letters of credit, and unused lines of credit are not material. While the above estimates are based on management’s judgment of the most appropriate factors, as of the balance sheet date, there is no assurance that the estimated fair values would have been realized if the assets were disposed of or the liabilities settled at that date, since market values may differ depending on the various circumstances. The estimated fair values would also not apply to subsequent dates. In addition, other assets and liabilities that are not financial instruments, such as premises and equipment, are not included in the above disclosures. |
Company Only Condensed Financia
Company Only Condensed Financial Information (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Company Only Condensed Financial Information | Condensed financial information of BankFinancial Corporation as of December 31, 2016 and 2015 and for the three years ended December 31, 2016 follows: Condensed Statements of Financial Condition December 31, 2016 2015 Assets Cash in subsidiary $ 14,543 $ 15,309 Loan receivable from ESOP 10,767 11,799 Investment in subsidiary 176,756 183,039 Deferred tax asset 2,367 1,865 Other assets 347 352 $ 204,780 $ 212,364 Liabilities and Stockholders' Equity Total stockholders’ equity $ 204,780 $ 212,364 Condensed Statements of Operations For the years ended December 31, 2016 2015 2014 Interest income $ 503 $ 544 $ 584 Dividends from subsidiary 16,888 19,710 — Other expense 1,846 1,536 1,451 Income (loss) before income tax and undistributed subsidiary income 15,545 18,718 (867 ) Income tax benefit (502 ) (783 ) (1,082 ) Income (loss) before equity in undistributed subsidiary income 16,047 19,501 215 Equity in undistributed subsidiary excess distributions (8,545 ) (10,826 ) 40,399 Net income $ 7,502 $ 8,675 $ 40,614 Condensed Statements of Cash Flows For the years ended December 31, 2016 2015 2014 Cash flows from operating activities Net income $ 7,502 $ 8,675 $ 40,614 Adjustments: Equity in undistributed subsidiary excess distributions 8,545 10,826 (40,399 ) Change in other assets (497 ) (793 ) (1,172 ) Change in accrued expenses and other liabilities — — (23 ) Net cash from (used in) operating activities 15,550 18,708 (980 ) Cash flows from investing activities Principal payments received on ESOP loan 1,032 992 951 Net cash from investing activities 1,032 992 951 Cash flows from financing activities Repurchase and retirement of common stock (13,215 ) (9,970 ) — Cash dividends paid on common stock (4,133 ) (4,145 ) (1,688 ) Net cash used in financing activities (17,348 ) (14,115 ) (1,688 ) Net change in cash in subsidiary (766 ) 5,585 (1,717 ) Beginning cash in subsidiary 15,309 9,724 11,441 Ending cash in subsidiary $ 14,543 $ 15,309 $ 9,724 |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (unaudited) (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Financial Data (unaudited) | For the year ended December 31, 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Interest income $ 12,759 $ 12,581 $ 12,845 $ 12,743 Interest expense 856 952 1,014 1,148 Net interest income 11,903 11,629 11,831 11,595 Provision for (recovery of) loan losses (490 ) 1,315 (525 ) (539 ) Net interest income 12,393 10,314 12,356 12,134 Noninterest income 1,594 1,537 1,637 1,777 Noninterest expense 10,930 10,506 9,912 10,194 Income before income taxes 3,057 1,345 4,081 3,717 Income tax expense 1,153 514 1,573 1,458 Net income $ 1,904 $ 831 $ 2,508 $ 2,259 Basic earnings per common share $ 0.10 $ 0.04 $ 0.13 $ 0.12 Diluted earnings per common share $ 0.10 $ 0.04 $ 0.13 $ 0.12 The Company recorded net income of $2.3 million , or $0.12 per common share, for the fourth quarter of 2016 . The Company’s net interest income before provision for loan losses was $11.6 million due to stronger loan originations and improved asset quality, which was offset by increased interest bearing liabilities at higher cost of funds. The Company’s fourth quarter 2016 operating results included a $539,000 recovery of loan losses. Noninterest expense included gains on REO sales of $113,000 and $177,000 of nonperforming asset management and OREO expense. For the year ended December 31, 2015 First Second Third Fourth Interest income $ 12,211 $ 12,193 $ 12,147 $ 12,411 Interest expense 686 691 699 738 Net interest income 11,525 11,502 11,448 11,673 Provision for (recovery of) loan losses (724 ) (488 ) (956 ) (1,038 ) Net interest income 12,249 11,990 12,404 12,711 Noninterest income 1,536 1,689 1,709 1,757 Noninterest expense 10,513 10,031 10,232 11,169 Income before income taxes 3,272 3,648 3,881 3,299 Income tax expense (benefit) 1,286 1,424 1,532 1,183 Net income $ 1,986 $ 2,224 $ 2,349 $ 2,116 Basic earnings per common share $ 0.10 $ 0.11 $ 0.12 $ 0.11 Diluted earnings per common share $ 0.10 $ 0.11 $ 0.12 $ 0.11 The Company recorded net income of $2.1 million , or $0.11 per common share, for the fourth quarter of 2015. The Company’s net interest income before provision for loan losses increased to $11.7 million due to stronger loan originations and improved asset quality. The Company’s fourth quarter 2015 operating results included a $1.0 million recovery of loan losses. The primary reasons for this decrease was the growth in our loan portfolio focused on loan types with lower loss ratios based on our historical loss experience, and improvements in the historical loan loss factors that occurred as the losses incurred in earlier periods aged and thus were either eliminated from the calculation or assigned a lower weight. Noninterest expense included $522,000 of nonperforming asset management and OREO expense. |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation : BankFinancial Corporation, a Maryland corporation headquartered in Burr Ridge, Illinois (the “Company”), is the owner of all of the issued and outstanding capital stock of BankFinancial, N.A. (the “Bank”). |
Principles of Consolidation | Principles of Consolidation : The consolidated financial statements include the accounts of and transactions of BankFinancial Corporation, the Bank, and the Bank’s wholly-owned subsidiaries, Financial Assurance Services, Inc. and BF Asset Recovery Corporation (collectively, “the Company”) and have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany accounts and transactions have been eliminated. |
Use of Estimates | Use of Estimates : To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, |
Cash Flows | Interest-bearing Deposits in Other Financial Institutions : Interest-bearing deposits in other financial institutions maturing in less than 90 days are carried at cost. Cash Flows : Cash and cash equivalents include cash, deposits with other financial institutions maturing in less than 90 days, and daily federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, borrowings, and advance payments by borrowers for taxes and insurance. |
Securities | Securities : Debt securities are classified as available-for-sale when they might be sold before maturity. Equity securities with readily determinable fair values are classified as available-for-sale. Securities available-for-sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold. Declines in the fair value of securities below their cost that are other-than-temporary are reflected as realized losses. In determining if losses are other-than-temporary, management considers: (1) the length of time and extent that fair value has been less than cost or adjusted cost, as applicable, (2) the financial condition and near term prospects of the issuer, and (3) whether the Company has the intent to sell the debt security or it is more likely than not that the Company will be required to sell the debt security before the anticipated recovery. |
Federal Home Loan Bank Stock | Federal Home Loan Bank (“FHLB”) Stock : The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB of Chicago (“FHLBC”) stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. |
Loans Held-for-Sale | |
Loans And Loan Income | Loans and Loan Income : Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of the allowance for loan losses, premiums and discounts on loans purchased, and net deferred loan costs. Interest income on loans is recognized in income over the term of the loan based on the amount of principal outstanding. Premiums and discounts associated with loans purchased are amortized over the contractual term of the loan using the level–yield method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level‑yield method without anticipating prepayments. Interest income is reported on the interest method. Interest income is discontinued at the time a loan is 90 days past due or when we do not expect to receive full payment of interest or principal. Past due status is based on the contractual terms of the loan. All interest accrued but not received for loans that have been placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash–basis or cost–recovery method until qualifying for return to accrual status. Once a loan is placed on nonaccrual status, the borrower must generally demonstrate at least six months of payment performance before the loan is eligible to return to accrual status. Generally, the Company utilizes the “90 days delinquent, still accruing” category of loan classification when: (1) the loan is repaid in full shortly after the period end date; (2) the loan is well secured and there are no asserted or pending legal barriers to its collection; or (3) the borrower has remitted all scheduled payments and is otherwise in substantial compliance with the terms of the loan, but the processing of payments actually received or the renewal of a loan has not occurred for administrative reasons. |
Impaired Loans | Impaired Loans: Impaired loans consist of nonaccrual loans and troubled debt restructurings (“TDRs”). A loan is considered impaired when, based on current information and events, management believes that it is probable that we will be unable to collect all amounts due (both principal and interest) according to the original contractual terms of the loan agreement. Once a loan is determined to be impaired, the amount of impairment is measured based on the loan's observable fair value, the fair value of the underlying collateral less selling costs if the loan is collateral-dependent, or the present value of expected future cash flows discounted at the loan's effective interest rate. If the measurement of the impaired loan is less than the recorded investment in the loan, the bank's allowance for the impaired collateral dependent loan under ASC 310-10-35 is based on fair value (less costs to sell), but the charge-off (the confirmed “loss”) is based on the appraised value. The remaining recorded investment in the loan after the charge-off will have a loan loss allowance for the amount by which the estimated fair value of the collateral (less costs to sell) is less than its appraised value. Impaired loans with specific reserves are reviewed quarterly for any changes that would affect the specific reserve. Any impaired loan for which a determination has been made that the economic value is permanently reduced is charged-off against the allowance for loan losses to reflect its current economic value in the period in which the determination has been made. At the time a collateral-dependent loan is initially determined to be impaired, we review the existing collateral appraisal. If the most recent appraisal is greater than a year old, a new appraisal is obtained on the underlying collateral. Appraisals are updated with a new independent appraisal at least annually and are formally reviewed by our internal appraisal department upon receipt of a new appraisal. All impaired loans and their related reserves are reviewed and updated each quarter. With an immaterial number of exceptions, all appraisals and internal reviews are current under this methodology at December 31, 2016 . |
Purchased Impaired Loans | |
Troubled Debt Restructurings | Troubled Debt Restructurings : A loan is classified as a troubled debt restructuring when a borrower is experiencing financial difficulties that leads to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses. In determining whether a debtor is experiencing financial difficulties, the Company considers if the debtor is in payment default or would be in payment default in the foreseeable future without the modification, the debtor declared or is in the process of declaring bankruptcy, there is substantial doubt that the debtor will continue as a going concern, the debtor has securities that have been or are in the process of being delisted, the debtor's entity-specific projected cash flows will not be sufficient to service any of its debt, or the debtor cannot obtain funds from sources other than the existing creditors at a market rate for debt with similar risk characteristics. In determining whether the Company has granted a concession, the Company assesses, if it does not expect to collect all amounts due, whether the current value of the collateral will satisfy the amounts owed, whether additional collateral or guarantees from the debtor will serve as adequate compensation for other terms of the restructuring, and whether the debtor otherwise has access to funds at a market rate for debt with similar risk characteristics. Periodically, the Company will restructure a note into two separate notes (A/B structure), charging off the entire B portion of the note. The A note is structured with appropriate loan-to-value and cash flow coverage ratios that provide for a high likelihood of repayment. The A note is classified as a nonperforming note until the borrower has displayed a historical payment performance for a reasonable time prior to and subsequent to the restructuring. A period of sustained repayment for at least six months generally is required to return the note to accrual status provided that management has determined that the performance is reasonably expected to continue. The A note will be classified as a restructured note (either performing or nonperforming) through the calendar year of the restructuring that the historical payment performance has been established. |
Allowance for Loan Losses | Allowance for Loan Losses: The Company establishes provisions for loan losses, which are charged to the Company’s results of operations to maintain the allowance for loan losses to absorb probable incurred credit losses in the loan portfolio. In determining the level of the allowance for loan losses, the Company considers past and current loss experience, trends in classified loans, evaluations of real estate collateral, current economic conditions, volume and type of lending, adverse situations that may affect a borrower’s ability to repay a loan and the levels of nonperforming and other classified loans. The amount of the allowance is based on estimates and the ultimate losses may vary from the estimates as more information becomes available or events change. The Company provides for loan losses based on the allowance method. Accordingly, all loan losses are charged to the related allowance and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors that, in our judgment, deserve current recognition in estimating probable incurred credit losses. The Company reviews the loan portfolio on an ongoing basis and makes provisions for loan losses on a quarterly basis to maintain the allowance for loan losses in accordance with GAAP. The allowance for loan losses consists of two components: • specific allowances established for any impaired residential non-owner occupied mortgage, multi-family mortgage, nonresidential real estate, construction and land, commercial, and commercial lease loans for which the recorded investment in the loan exceeds the measured value of the loan; and • general allowances for loan losses for each loan class based on historical loan loss experience; and adjustments to historical loss experience (general allowances), maintained to cover uncertainties that affect our estimate of probable incurred credit losses for each loan class. The adjustments to historical loss experience are based on our evaluation of several factors, including levels of, and trends in, past due and classified loans; levels of, and trends in, charge–offs and recoveries; trends in volume and terms of loans, including any credit concentrations in the loan portfolio; experience and ability of lending management and other relevant staff; and national and local economic trends and conditions. The Company evaluates the allowance for loan losses based upon the combined total of the specific and general components. Generally, when the loan portfolio increases, absent other factors, the allowance for loan loss methodology results in a higher dollar amount of estimated probable incurred credit losses than would be the case without the increase. Conversely, when the loan portfolio decreases, absent other factors, the allowance for loan loss methodology generally results in a lower dollar amount of estimated probable losses than would be the case without the decrease. The loss ratio used in computing the required general loan loss reserve allowance for a given class of loan consists of (i) the actual loss ratio (measured on a weighted, rolling twelve-quarter basis), (ii) the change in credit quality within the specific loan class during the period, (iii) the actual inherent risk factor assigned to the specific loan class and (iv) the actual concentration of risk factor assigned to the specific loan class (collectively, the “Specific Loan Class Risk Factors”). The Specific Loan Class Risk Factors are weighted equally in the calculation. In addition, two additional quantitative factors, the National Economic risk factor and the Local Economic risk factor, are also components of the computation but are given different weightings in their computation due to their relative applicability to the specific loan class in the context of the effect of national and local economic conditions on their risk profile and performance. |
Uncollected Interest, Policy [Policy Text Block] | When a loan is on non-accrual status and the ultimate collectability of the total principal of an impaired loan is in doubt, all payments are applied to principal under the cost recovery method. Alternatively, when a loan is on non-accrual status but there is doubt concerning only the ultimate collectability of interest, contractual interest is credited to interest income only when received, under the cash basis method pursuant to the provisions of FASB ASC 310–10, as applicable. In all cases, the average balances are calculated based on the month–end balances of the financing receivables within the period reported pursuant to the provisions of FASB ASC 310–10, as applicable. |
Mortgage Servicing Rights | Mortgage Servicing Rights : Mortgage servicing rights are recognized separately when they are acquired through sales of loans. When mortgage loans are sold, servicing rights are initially recorded at fair value and gains on sales of loans are recorded in the statement of operations. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with amortization and impairment of servicing assets on the statement of operations. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Servicing fee income that is reported on the statement of operations as loan servicing fees is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are not material. |
Other Real Estate Owned | Other Real Estate Owned : Foreclosed assets are initially recorded at fair value less cost to sell when acquired, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when the legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. These assets are subsequently accounted for at a lower of cost or fair value less estimated cost to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating expenses, gains and losses on disposition, and changes in the valuation allowance are reported in noninterest expense as operations of other real estate owned ("OREO"). |
Premises and Equipment | Premises and Equipment : Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is included in noninterest expense and is computed on the straight-line method over the estimated useful lives of the assets. Useful lives are estimated to be 25 to 40 years for buildings and improvements that extend the life of the original building, ten to 20 years for routine building improvements, five to 15 years for furniture and equipment, two to five years for computer hardware and software and no greater than four years on automobiles. The cost of maintenance and repairs is charged to expense as incurred and significant repairs are capitalized. |
Goodwill and Other Intangible Assets | Other Intangible Assets : Intangible assets acquired in a purchase business combination with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible assets (“CDI”), are recognized at the time of acquisition based on valuations prepared by independent third parties or other estimates of fair value. In preparing such valuations, variables such as deposit servicing costs, attrition rates, and market discount rates are considered. CDI assets are amortized to expense over their useful lives. |
Bank Owned Life Insurance | Bank Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. The Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. |
Long-Term Assets | Long-Term Assets : Premises and equipment, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate that their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. |
Loan Commitments and Related Financial Instruments | Loan Commitments and Related Financial Instruments : Financial instruments include off-balance-sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. |
Income Taxes | Income Taxes : Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Under GAAP, a deferred tax asset valuation allowance is required to be recognized if it is “more likely than not” that the deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future taxable income, applicable tax planning strategies, and assessments of current and future economic and business conditions. The Company considers both positive and negative evidence regarding the ultimate realizability of our deferred tax assets. Examples of positive evidence may include the existence, if any, of taxes paid in available carry-back years and the likelihood that taxable income will be generated in future periods. Examples of negative evidence may include a cumulative loss in the current year and prior two years and negative general business and economic trends. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. This analysis is updated quarterly and adjusted as necessary. At December 31, 2016 , the Company had a net deferred tax asset of $22.4 million . A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, presuming that a tax examination will occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely to be realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. |
Retirement Plans | Retirement Plans : Employee 401(k) and profit sharing plan expense is the amount of matching contributions and any annual discretionary contribution made at the discretion of the Company’s Board of Directors. Deferred compensation expense allocates the benefits over years of service. |
Employee Stock Ownership Plan (ESOP) | Employee Stock Ownership Plan (“ESOP”) : The cost of shares issued to the ESOP, but not yet allocated to participants, is shown as a reduction of stockholders’ equity. Compensation expense is based on the market price of shares as they are committed to be released to participant accounts. Dividends on allocated ESOP shares reduce retained earnings; dividends on unearned ESOP shares reduce debt and accrued interest. |
Earnings (Loss) Per Common Share | Earnings per Common Share : Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. ESOP shares are considered outstanding for this calculation unless unearned. Diluted earnings per common share is net income divided by the weighted average number of common shares outstanding during the period plus the dilutive effect of restricted stock shares and the additional potential shares issuable under stock options. |
Loss Contingencies | Loss Contingencies : Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are such matters that will have a material effect on the financial statements as of December 31, 2016 . |
Restrictions on Cash | Restrictions on Cash : Cash on hand or on deposit with the Federal Reserve Bank that is required to meet regulatory reserve and clearing requirements. |
Fair Value of Financial Instruments | Fair Values of Financial Instruments : Fair values of financial instruments are estimated using relevant market value information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. |
Comprehensive Income (Loss) | Comprehensive Income : Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities, net of tax, which are also recognized as separate components of stockholders’ equity. |
Stock-based Compensation | Stock-based Compensation: Compensation cost is recognized for stock options and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. The Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. |
Transfers of Financial Assets | Transfers of Financial Assets: Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. |
Operating Segments | Operating Segments: While management monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating results are not reviewed by senior management to make resource allocation or performance decisions. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. |
Reclassifications | Reclassifications : Certain reclassifications have been made in the prior year’s financial statements to conform to the current year’s presentation. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the FASB issued an update (ASU No. 2014-09, Revenue from Contracts with Customers) creating FASB Topic 606, Revenue from Contracts with Customers. The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update to become effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Earnings Per Share | For the years ended December 31, 2016 2015 2014 Net income available to common stockholders $ 7,502 $ 8,675 $ 40,614 Average common shares outstanding 19,673,416 20,708,775 21,101,966 Less: Unearned ESOP shares (682,362 ) (780,227 ) (905,235 ) Unvested restricted stock shares (3,103 ) (10,545 ) (19,460 ) Weighted average common shares outstanding 18,987,951 19,918,003 20,177,271 Add - Net effect of dilutive stock options and unvested restricted stock 59,188 3,516 9,105 Weighted average dilutive common shares outstanding 19,047,139 19,921,519 20,186,376 Basic earnings per common share $ 0.40 $ 0.44 $ 2.01 Diluted earnings per common share $ 0.39 $ 0.44 $ 2.01 Number of antidilutive stock options excluded from the diluted earnings per share calculation 536,459 536,459 — Weighted average exercise price of anti-dilutive option shares $ 12.99 $ 12.99 $ — |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2016 Certificates of deposit $ 85,938 $ — $ — $ 85,938 Equity mutual fund 500 — (1 ) 499 Mortgage-backed securities - residential 14,561 644 (21 ) 15,184 Collateralized mortgage obligations - residential 5,587 15 (28 ) 5,574 SBA-guaranteed loan participation certificates 17 — — 17 $ 106,603 $ 659 $ (50 ) $ 107,212 December 31, 2015 Certificates of deposit $ 87,901 $ — $ — $ 87,901 Equity mutual fund 500 7 — 507 Mortgage-backed securities - residential 18,330 880 (30 ) 19,180 Collateralized mortgage obligations - residential 7,111 41 (10 ) 7,142 SBA-guaranteed loan participation certificates 23 — — 23 $ 113,865 $ 928 $ (40 ) $ 114,753 |
Amortized cost and fair values of securities | Sales of securities were as follows: For the years ended December 31, 2016 2015 2014 Proceeds $ 46 $ — $ 3,663 Gross gains 46 — — Gross losses — — 7 The amortized cost and fair values of securities at December 31, 2016 by contractual maturity are shown below. Securities not due at a single maturity date are shown separately. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. December 31, 2016 Amortized Cost Fair Value Due in one year or less $ 85,938 $ 85,938 Mortgage-backed securities - residential 14,561 15,184 Collateralized mortgage obligations - residential 5,587 5,574 SBA-guaranteed loan participation certificates 17 17 $ 106,103 $ 106,713 |
Securities with unrealized losses | Securities with unrealized losses at December 31, 2016 and 2015 not recognized in income are as follows: Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2016 Equity mutual fund $ 499 $ (1 ) $ — $ — $ 499 $ (1 ) Mortgage-backed securities - residential 1,187 (21 ) — — 1,187 (21 ) Collateralized mortgage obligations - residential 3,691 (18 ) 1,028 (10 ) 4,719 (28 ) $ 5,377 $ (40 ) $ 1,028 $ (10 ) $ 6,405 $ (50 ) December 31, 2015 Mortgage-backed securities - residential $ — $ — $ 1,724 $ (30 ) $ 1,724 $ (30 ) Collateralized mortgage obligations - residential — — 1,299 (10 ) 1,299 (10 ) $ — $ — $ 3,023 $ (40 ) $ 3,023 $ (40 ) |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans receivable | Loans receivable are as follows: December 31, 2016 2015 One-to-four family residential real estate $ 135,218 $ 159,501 Multi-family mortgage 542,887 506,026 Nonresidential real estate 182,152 226,735 Construction and land 1,302 1,313 Commercial loans 103,063 79,516 Commercial leases 352,539 265,405 Consumer 2,255 1,831 1,319,416 1,240,327 Net deferred loan origination costs 1,663 1,621 Allowance for loan losses (8,127 ) (9,691 ) Loans, net $ 1,312,952 $ 1,232,257 |
Allowance for loan losses and the loans receivable by portfolio segment | The following tables present the balance in the allowance for loan losses and the loans receivable by portfolio segment and based on impairment method: Allowance for loan losses Loan Balances Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total December 31, 2016 One-to-four family residential real estate $ — $ 1,168 $ 1,168 $ 4,962 $ 130,256 $ 135,218 Multi-family mortgage — 3,647 3,647 787 542,100 542,887 Nonresidential real estate 26 1,768 1,794 260 181,892 182,152 Construction and land — 32 32 — 1,302 1,302 Commercial loans — 733 733 — 103,063 103,063 Commercial leases — 714 714 — 352,539 352,539 Consumer — 39 39 — 2,255 2,255 $ 26 $ 8,101 $ 8,127 $ 6,009 $ 1,313,407 1,319,416 Net deferred loan origination costs 1,663 Allowance for loan losses (8,127 ) Loans, net $ 1,312,952 Allowance for loan losses Loan Balances Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total December 31, 2015 One-to-four family residential real estate $ — $ 1,704 $ 1,704 $ 2,672 $ 156,829 $ 159,501 Multi-family mortgage 41 3,569 3,610 2,879 503,147 506,026 Nonresidential real estate 3 2,579 2,582 2,099 224,636 226,735 Construction and land — 43 43 — 1,313 1,313 Commercial loans — 654 654 — 79,516 79,516 Commercial leases — 1,073 1,073 — 265,405 265,405 Consumer — 25 25 — 1,831 1,831 $ 44 $ 9,647 $ 9,691 $ 7,650 $ 1,232,677 1,240,327 Net deferred loan origination costs 1,621 Allowance for loan losses (9,691 ) Loans, net $ 1,232,257 |
Allowance for loan losses | Activity in the allowance for loan losses is as follows: For the years ended December 31, 2016 2015 2014 Beginning balance $ 9,691 $ 11,990 $ 14,154 Loans charged off: One-to-four family residential real estate (539 ) (386 ) (873 ) Multi-family mortgage (79 ) (198 ) (1,230 ) Nonresidential real estate (1,718 ) (391 ) (1,727 ) Construction and land — — (1 ) Commercial loans — (152 ) (123 ) Commercial leases — — (8 ) Consumer (25 ) (16 ) (12 ) (2,361 ) (1,143 ) (3,974 ) Recoveries: One-to-four family residential real estate 321 702 418 Multi-family mortgage 162 182 100 Nonresidential real estate 200 509 423 Construction and land 35 44 377 Commercial loans 309 611 1,225 Commercial leases 7 1 — Consumer 2 1 3 1,036 2,050 2,546 Net recoveries (charge-off) (1,325 ) 907 (1,428 ) Recovery of loan losses (239 ) (3,206 ) (736 ) Ending balance $ 8,127 $ 9,691 $ 11,990 |
Loans Individually Evaluated For Impairment By Class Loans | The following tables present loans individually evaluated for impairment by class of loans: Loan Balance Recorded Investment Partial Charge-off Allowance for Loan Losses Allocated Average Investment in Impaired Loans Interest Income Recognized December 31, 2016 With no related allowance recorded One-to-four family residential real estate $ 5,379 $ 4,548 $ 886 $ — $ 2,947 $ 70 One-to-four family residential real estate - non-owner occupied 503 386 119 — 251 9 Multi-family mortgage 787 787 — — 980 41 6,669 5,721 1,005 — 4,178 120 With an allowance recorded Nonresidential real estate 262 260 21 26 164 — 262 260 21 26 164 — $ 6,931 $ 5,981 $ 1,026 $ 26 $ 4,342 $ 120 Loan Balance Recorded Investment Partial Charge-off Allowance for Loan Losses Allocated Average Investment in Impaired Loans Interest Income Recognized December 31, 2015 With no related allowance recorded One-to-four family residential real estate $ 3,203 $ 2,637 $ 637 $ — $ 2,708 $ 24 One-to-four family residential real estate - non-owner occupied 23 21 2 — 859 — Multi-family mortgage 1,863 1,837 — — 1,962 78 Wholesale commercial lending 511 507 — — 514 34 Nonresidential real estate 2,066 2,049 — — 1,877 102 7,666 7,051 639 — 7,920 238 With an allowance recorded Multi-family mortgage 518 518 — 41 1,181 — Nonresidential real estate 62 39 27 3 1,439 — 580 557 27 44 2,620 — $ 8,246 $ 7,608 $ 666 $ 44 $ 10,540 $ 238 |
Schedule of Financing Receivables, Non Accrual Status | The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans: Loan Balance Recorded Investment Loans Past Due Over 90 Days, still accruing December 31, 2016 One-to-four family residential real estate $ 2,861 $ 2,483 $ — One-to-four family residential real estate – non owner occupied 428 368 — Multi-family mortgage 187 185 — Nonresidential real estate 262 260 — $ 3,738 $ 3,296 $ — December 31, 2015 One-to-four family residential real estate $ 2,704 $ 2,263 $ — One-to-four family residential real estate – non owner occupied 92 192 — Multi-family mortgage 829 821 — Nonresidential real estate 324 296 — $ 3,949 $ 3,572 $ — |
Past Due Financing Receivables | The following tables present the aging of the recorded investment in past due loans as December 31, 2015 by class of loans: 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Loans Not Past Due Total One-to-four family residential real estate $ 2,000 $ 572 $ 1,997 $ 4,569 $ 109,893 $ 114,462 One-to-four family residential real estate - non-owner occupied 299 164 192 655 43,557 44,212 Multi-family mortgage - Illinois 651 283 821 1,755 312,620 314,375 Multi-family mortgage - Other — — — — 188,178 188,178 Nonresidential real estate — — 296 296 223,018 223,314 Construction — — — — 21 21 Land — — — — 1,279 1,279 Commercial loans: Regional Commercial Banking 4 150 — 154 29,890 30,044 Health Care — — — — 31,862 31,862 Direct Commercial Lessor — — — — 17,873 17,873 Commercial leases: — Investment-grade 50 363 — 413 170,859 171,272 Other — — — — 95,800 95,800 Consumer 21 — — 21 1,819 1,840 $ 3,025 $ 1,532 $ 3,306 $ 7,863 $ 1,226,669 $ 1,234,532 The following tables present the aging of the recorded investment in past due loans at December 31, 2016 by class of loans: 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Loans Not Past Due Total One-to-four family residential real estate $ 984 $ 335 $ 2,235 $ 3,554 $ 92,665 $ 96,219 One-to-four family residential real estate - non-owner occupied 664 114 368 1,146 37,179 38,325 Multi-family mortgage - Illinois 605 439 184 1,228 294,223 295,451 Multi-family mortgage - Other — — — — 243,944 243,944 Nonresidential real estate — — 260 260 178,644 178,904 Construction — — — — 950 950 Land — — — — 349 349 Commercial loans: Regional Commercial Banking — — — — 36,086 36,086 Health Care — — — — 35,455 35,455 Direct Commercial Lessor — — — — 31,847 31,847 Commercial leases: — Investment-grade 51 — — 51 269,430 269,481 Other — — — — 84,988 84,988 Consumer — — — — 2,263 2,263 Total $ 2,304 $ 888 $ 3,047 $ 6,239 $ 1,308,023 $ 1,314,262 |
Troubled Debt Restructurings on Financing Receivables | The following table presents loans classified as TDRs: December 31, 2016 2015 One-to-four family residential real estate $ 205 $ 1,385 Multi-family mortgage — 1,119 Accrual troubled debt restructured loans 205 2,504 One-to-four family residential real estate 136 174 Nonaccrual troubled debt restructured loans 136 174 $ 341 $ 2,678 |
Loans By Class Modified As Troubled Debt Restructuring On Financing Receivables | The following tables present TDRs that occurred during the year: For the years ended December 31, 2016 2015 Number of loans Pre- Modification outstanding recorded investment Post- Modification outstanding recorded investment Number of loans Pre- Modification outstanding recorded investment Post- Modification outstanding recorded investment One-to-four family residential real estate 1 $ 63 $ 63 6 $ 401 $ 274 Multi-family mortgage — — — 1 615 615 1 $ 63 $ 63 7 $ 1,016 $ 889 Due to reduction in interest rate Due to extension of maturity date Due to permanent reduction in recorded investment Total For the year ended December 31, 2016 One-to-four family residential real estate $ — $ 63 $ — $ 63 For the year ended December 31, 2015 One-to-four family residential real estate $ — $ 142 $ 132 $ 274 Commercial loans - secured — 615 — 615 $ — $ 757 $ 132 $ 889 |
Loans By Class Modified As Troubled Debt Restructurings With Payment Default | The following table presents TDRs for which there was a payment default within twelve months following the modification: For the years ended December 31, 2016 2015 Number of loans Recorded investment Number of loans Recorded investment One-to-four family residential real estate 2 $ 87 2 $ 43 |
Financing Receivable Credit Quality Indicators | As of December 31, 2016 , and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate $ 93,514 $ — $ 629 $ 2,486 $ 96,629 One-to-four family residential real estate - non-owner occupied 38,179 — 41 369 38,589 Multi-family mortgage - Illinois 297,826 122 1,048 187 299,183 Multi-family mortgage - Other 243,704 — — — 243,704 Nonresidential real estate 180,047 — 1,845 260 182,152 Construction 946 — — — 946 Land 356 — — — 356 Commercial loans: Regional commercial banking 35,944 — 66 — 36,010 Health care 35,372 — — — 35,372 Direct commercial lessor 30,881 800 — — 31,681 Commercial leases: Investment-grade 268,022 — — — 268,022 Other 84,356 161 — — 84,517 Consumer 2,255 — — — 2,255 $ 1,311,402 $ 1,083 $ 3,629 $ 3,302 $ 1,319,416 As of December 31, 2015 , and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate $ 112,449 $ — $ 576 $ 1,936 $ 114,961 One-to-four family residential real estate - non-owner occupied 43,858 219 271 192 44,540 Multi-family mortgage - Illinois 312,329 344 4,656 828 318,157 Multi-family mortgage - Other 187,358 — 511 — 187,869 Nonresidential real estate 219,859 1,600 4,981 295 226,735 Construction 21 — — — 21 Land 450 — 842 — 1,292 Commercial loans: Regional commercial banking 29,377 — 614 — 29,991 Health care 31,809 — — — 31,809 Direct commercial lessor 17,716 — — — 17,716 Commercial leases: Investment-grade 170,100 — — — 170,100 Other 95,305 — — — 95,305 Consumer 1,831 — — — 1,831 $ 1,222,462 $ 2,163 $ 12,451 $ 3,251 $ 1,240,327 |
Other Real Estate (Tables)
Other Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Real Estate Owned [Abstract] | |
real estate owned, rollforward [Table Text Block] | The following represents the roll forward of OREO and the composition of OREO properties. At and For the Years Ended December 31, 2016 2015 Beginning balance $ 7,011 $ 6,358 New foreclosed properties 1,251 5,875 Valuation adjustments (314 ) (548 ) Sales (4,053 ) (4,674 ) Ending balance $ 3,895 $ 7,011 |
Schedule of Real Estate Properties [Table Text Block] | December 31, 2016 December 31, 2015 Balance Valuation Allowance Net OREO Balance Balance Valuation Allowance Net OREO Balance One–to–four family residential $ 1,702 $ (137 ) $ 1,565 $ 2,684 $ (63 ) $ 2,621 Multi-family mortgage 370 — 370 1,025 (74 ) 951 Nonresidential real estate 1,171 (105 ) 1,066 1,986 (239 ) 1,747 Land 1,101 (207 ) 894 2,358 (666 ) 1,692 $ 4,344 $ (449 ) $ 3,895 $ 8,053 $ (1,042 ) $ 7,011 |
other real estate owned valuation allowance rollforward [Table Text Block] | Activity in the valuation allowance is as follows: At and For the Years Ended December 31, 2016 2015 Beginning of year $ 1,042 $ 896 Additions charged to expense 314 548 Reductions from sales of other real estate owned (907 ) (402 ) End of year $ 449 $ 1,042 |
Secondary Mortgage Market Activ
Secondary Mortgage Market Activities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Mortgage Banking [Abstract] | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Estimated amortization expense for each of the next five years is as follows: 2017 $ 496 2018 184 2019 61 2020 34 2021 7 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant, Equipment And Leases [Abstract] | |
Property, Plant and Equipment | Year end premises and equipment are as follows: December 31, 2016 2015 Land and land improvements $ 13,820 $ 13,594 Buildings and improvements 37,416 37,316 Furniture and equipment 9,660 9,693 Computer equipment 4,058 7,224 64,954 67,827 Accumulated depreciation (33,541 ) (35,101 ) $ 31,413 $ 32,726 |
Schedule of Future Minimum Rental Payments and Receipts for Operating Leases | The projected minimum rental expense under existing leases, not including taxes, insurance, and maintenance, as of December 31, 2016 is as follows: 2017 $ 469 2018 479 2019 471 2020 459 2021 464 Thereafter 4,243 $ 6,585 The Company has subleased some of its branch facilities and currently is entitled to receive income as follows: 2017 $ 8 |
Core Deposit Intangible (Tables
Core Deposit Intangible (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets | The following table presents the changes in the carrying amount of core deposit intangible, gross carrying amount, accumulated amortization, and net book value: December 31, 2016 2015 Balance at the beginning of the year $ 1,305 $ 1,855 Amortization (523 ) (550 ) Additions — — Net Carrying Value $ 782 $ 1,305 Gross carrying amount $ 5,932 $ 5,932 Accumulated amortization (5,150 ) (4,627 ) Net Carrying Value $ 782 $ 1,305 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Estimated amortization expense for each of the next five years is as follows: 2017 $ 496 2018 184 2019 61 2020 34 2021 7 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Deposits [Abstract] | |
Schedule Of Deposits By Type | Composition of deposits is as follows: December 31, 2016 2015 Noninterest-bearing demand deposits $ 249,539 $ 254,830 Savings deposits 160,002 156,752 Money market accounts 311,183 329,654 Interest-bearing NOW accounts 267,054 248,982 Certificates of deposit 351,612 222,701 $ 1,339,390 $ 1,212,919 |
Schedule Of Maturities For Total Time Deposits | Scheduled maturities of certificates of deposit for the next five years are as follows: 2017 $ 236,859 2018 79,166 2019 19,508 2020 7,650 2021 8,429 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | Year-end borrowed funds are as follows: December 31, 2016 2015 Contractual Rate Amount Contractual Rate Amount Fixed-rate advance from FHLBC, due within 1 year 0.67 % $ 50,000 0.29 % $ 62,000 Securities sold under agreements to repurchase 0.25 1,069 0.25 2,318 0.66 % $ 51,069 0.28 % $ 64,318 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax Expense (Benefit) | The income tax expense (benefit) is as follows: For the years ended December 31, 2016 2015 2014 Current $ 308 $ 346 $ 363 Deferred expense (benefit) 4,390 5,079 3,437 Deferred tax valuation allowance — — (35,117 ) Total income tax expense (benefit) $ 4,698 $ 5,425 $ (31,317 ) |
Schedule of Effective Income Tax Rate | A reconciliation of the provision for income taxes computed at the statutory federal corporate tax rate of 34% for 2016 , 2015 and 2014 to the income tax expense (benefit) in the consolidated statements of operations follows: For the years ended December 31, 2016 2015 2014 Expense computed at the statutory federal tax rate $ 4,148 $ 4,794 $ 3,161 State taxes and other, net 464 626 664 Bank owned life insurance (70 ) (66 ) (80 ) ESOP/Share based compensation 156 71 55 Deferred tax valuation allowance — — (35,117 ) $ 4,698 $ 5,425 $ (31,317 ) Effective income tax rate 38.51 % 38.48 % N.M. N.M. Not Meaningful |
Schedule of Deferred Assets And Liabilities | The net deferred tax asset is as follows: December 31, 2016 2015 Gross Deferred tax assets Allowance for loan losses $ 3,117 $ 3,716 Alternative minimum tax, general business credit and net operating loss carryforwards 20,857 24,799 Tax deductible goodwill and core deposit intangible 1,466 1,783 Other 2,540 2,237 27,980 32,535 Gross Deferred tax liabilities Net deferred loan origination costs (1,874 ) (1,811 ) Purchase accounting adjustments (2,644 ) (2,801 ) Other (817 ) (888 ) Unrealized gain on securities (234 ) (340 ) (5,569 ) (5,840 ) $ 22,411 $ 26,695 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2016 2015 Beginning of year $ 108 $ 79 Additions based on tax positions related to the current year — — Additions for tax positions of prior years — 29 Reductions due to the statute of limitations and reductions for tax positions of prior years (51 ) — End of year $ 57 $ 108 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Actual and required capital amounts and ratios were: Actual Required for Capital Adequacy Purposes To be Well-Capitalized under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2016 Total capital (to risk-weighted assets): Consolidated $ 193,845 16.96 % $ 91,414 8.00 % N/A N/A BankFinancial, NA 168,113 14.72 91,386 8.00 $ 114,232 10.00 % Tier 1 (core) capital (to risk-weighted assets): Consolidated 185,718 16.25 68,560 6.00 N/A N/A BankFinancial, NA 159,986 14.01 68,539 6.00 91,386 8.00 Common Tier 1 (CET1) Consolidated 185,718 16.25 51,420 4.50 N/A N/A BankFinancial, NA 159,986 14.01 51,404 4.50 74,251 6.50 Tier 1 (core) capital (to adjusted average total assets): Consolidated 185,718 11.92 62,306 4.00 N/A N/A BankFinancial, NA 159,986 10.27 62,303 4.00 77,879 5.00 December 31, 2015 Total capital (to risk-weighted assets): Consolidated $ 198,738 17.89 % $ 88,898 8.00 % N/A N/A BankFinancial, F.S.B. 171,239 15.41 88,881 8.00 $ 111,102 10.00 % Tier 1 (core) capital (to risk-weighted assets): Consolidated 189,044 17.01 66,674 6.00 N/A N/A BankFinancial, F.S.B. 161,545 14.54 66,661 6.00 88,881 8.00 Common Tier 1 (CET1) Consolidated 189,044 17.01 50,005 4.50 N/A N/A BankFinancial, F.S.B. 161,545 14.54 49,996 4.50 72,216 6.50 Tier 1 (core) capital (to adjusted average total assets): Consolidated 189,044 13.26 57,043 4.00 N/A N/A BankFinancial, F.S.B. 161,545 11.33 57,039 4.00 71,299 5.00 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures | Shares held by the ESOP were as follows: December 31, 2016 2015 Allocated to participants 1,125,448 1,027,583 Distributed to participants (313,223 ) (281,387 ) Unearned 831,852 929,717 Total ESOP shares 1,644,077 1,675,913 Fair value of unearned shares $ 12,328 $ 11,742 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Valuation Assumptions | The Company estimated the grant date fair value of options awarded in 2015 using Black-Scholes Option-Pricing model with the following assumptions: 2015 Assumptions Risk-free interest rate 0.60 % Expected option life (years) 1.27 Expected stock price volatility 17.28 % Dividend yield 1.299 % |
Schedule of Stock Option Activity | A summary of the activity in the stock option plan for 2016 follows: Stock Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (1) Stock options outstanding at December 31, 2014 — $ — $ — Stock options granted 1,752,156 12.30 Stock options exercised — — Stock options expired — — Stock options forfeited — — Stock options outstanding at December 31, 2015 1,752,156 $ 12.30 1.48 $ 778 Stock options granted — — Stock options exercised — — Stock options expired — — Stock options forfeited — — Stock options outstanding at December 31, 2016 1,752,156 $ 12.30 0.48 $ 4,422 Stock options exercisable at December 31, 2016 1,752,156 12.30 0.48 4,422 Fully vested and expected to vest 1,752,156 12.30 0.48 4,422 (1) Stock option aggregate intrinsic value represents the number of shares subject to options multiplied by the difference (if positive) in the closing market price of the common stock underlying the options on the date shown and the weighted average exercise price. The weighted average fair value of the options granted is $0.88 per option. As of December 31, 2016 , there was no unrecognized compensation cost related to the nonvested stock options granted under the Plan. |
Schedule of Unvested Shares of Restricted Stock | Restricted Stock Number of Shares (1) Weighted Average Fair Value at Grant Date Weighted Average Term to Vest (in years) Aggregate Intrinsic Value (2) Shares outstanding at January 1, 2015 16,822 $ 8.14 0.44 $ 199 Shares granted — — Shares vested (8,888 ) — Shares forfeited — — Shares outstanding at December 31, 2015 7,934 $ 8.14 0.31 $ 100 Shares granted — — Shares vested (6,994 ) — Shares forfeited — — Shares outstanding at December 31, 2016 940 $ 8.14 0.74 $ 14 (1) The end of period balances consist only of unvested shares. (2) Restricted stock aggregate intrinsic value represents the number of shares of restricted stock multiplied by the market price of the common stock underlying the outstanding shares on the date shown. |
Loan Commitments and Other Of41
Loan Commitments and Other Off-Balance Sheet Activities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Off-balance Sheet Instruments Outstanding | The contractual or notional amounts are as follows: December 31, 2016 2015 Financial instruments wherein contractual amounts represent credit risk Commitments to extend credit $ 91,172 $ 52,322 Standby letters of credit 1,305 1,075 Unused lines of credit 125,332 126,333 Commitments to sell mortgages — 64 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Company's financial instruments measured at fair values | The following table sets forth the Company’s financial assets that were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value December 31, 2016 Securities: Certificates of deposit $ — $ 85,938 $ — $ 85,938 Equity mutual fund 499 — — 499 Mortgage-backed securities – residential — 15,184 — 15,184 Collateralized mortgage obligations – residential — 5,574 — 5,574 SBA-guaranteed loan participation certificates — 17 — 17 $ 499 $ 106,713 $ — $ 107,212 December 31, 2015 Securities: Certificates of deposit $ — $ 87,901 $ — $ 87,901 Equity mutual fund 507 — — 507 Mortgage-backed securities - residential — 19,180 — 19,180 Collateralized mortgage obligations – residential — 7,142 — 7,142 SBA-guaranteed loan participation certificates — 23 — 23 $ 507 $ 114,246 $ — $ 114,753 |
Schedule of Company's financial instruments measured on non recurring at fair values | The following table sets forth the Company’s assets that were measured at fair value on a non-recurring basis: Fair Value Measurement Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value December 31, 2016 Impaired loans: Nonresidential real estate $ — $ — $ 234 $ 234 Impaired loans $ — $ — $ 234 $ 234 Other real estate owned: One–to–four family residential real estate $ — $ — $ 1,282 $ 1,282 Nonresidential real estate — — 553 553 Land — — 47 47 Other real estate owned $ — $ — $ 1,882 $ 1,882 December 31, 2015 Impaired loans: Multi-family mortgage $ — $ — $ 477 $ 477 Nonresidential real estate — — 36 36 Impaired loans $ — $ — $ 513 $ 513 Other real estate owned: One–to–four family residential real estate $ — $ — $ 42 $ 42 Multi-family mortgage — — 354 354 Nonresidential real estate — — 474 474 Land — — 794 794 Other real estate owned $ — $ — $ 1,664 $ 1,664 |
Schedule of fair value quantitative information | The following table presents quantitative information, based on certain empirical data with respect to Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2016 : Fair Value Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans Nonresidential real estate $ 234 Sales comparison Comparison between sales and income approaches -10.2% Income approach Cap Rate 8.5% $ 234 Other real estate owned One-to-four family residential real estate $ 1,282 Sales comparison Discount applied to valuation 8.62% to 20.04% Nonresidential real estate 553 Sales comparison Comparison between sales and income approaches -3.22% to 4.58% (3.7%) Land 47 Sales comparison Discount applied to valuation 5.74%-31.60% $ 1,882 |
Carrying amount and estimated fair value of financial instruments | The carrying amount and estimated fair value of financial instruments is as follows: Fair Value Measurements at December 31, 2016 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 96,684 $ 13,053 $ 83,631 $ — $ 96,684 Securities 107,212 499 106,713 — 107,212 Loans receivable, net of allowance for loan losses 1,312,952 — 1,322,713 234 1,322,947 FHLBC and FRB stock 11,650 — — — N/A Accrued interest receivable 4,381 — 4,381 — 4,381 Financial liabilities Noninterest-bearing demand deposits $ 249,539 $ — $ 249,539 $ — $ 249,539 Savings deposits 160,002 — 160,002 — 160,002 NOW and money market accounts 578,237 — 578,237 — 578,237 Certificates of deposit 351,612 — 350,593 — 350,593 Borrowings 51,069 — 50,015 — 50,015 Accrued interest payable 102 — 102 — 102 Fair Value Measurements at December 31, 2015 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 59,377 $ 13,192 $ 46,185 $ — $ 59,377 Securities 114,753 507 114,246 — 114,753 Loans receivable, net of allowance for loan losses 1,232,257 — 1,240,791 513 1,241,304 FHLBC stock 6,257 — — — N/A Accrued interest receivable 4,226 — 4,226 — 4,226 Financial liabilities Noninterest-bearing demand deposits $ 254,830 $ — $ 254,830 $ — $ 254,830 Savings deposits 156,752 — 156,752 — 156,752 NOW and money market accounts 578,636 — 578,636 — 578,636 Certificates of deposit 222,701 — 222,026 — 222,026 Borrowings 64,318 — 64,318 — 64,318 Accrued interest payable 39 — 39 — 39 |
Company Only Condensed Financ43
Company Only Condensed Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Statements of Financial Condition | Condensed Statements of Financial Condition December 31, 2016 2015 Assets Cash in subsidiary $ 14,543 $ 15,309 Loan receivable from ESOP 10,767 11,799 Investment in subsidiary 176,756 183,039 Deferred tax asset 2,367 1,865 Other assets 347 352 $ 204,780 $ 212,364 Liabilities and Stockholders' Equity Total stockholders’ equity $ 204,780 $ 212,364 |
Condensed Statements of Operations | Condensed Statements of Operations For the years ended December 31, 2016 2015 2014 Interest income $ 503 $ 544 $ 584 Dividends from subsidiary 16,888 19,710 — Other expense 1,846 1,536 1,451 Income (loss) before income tax and undistributed subsidiary income 15,545 18,718 (867 ) Income tax benefit (502 ) (783 ) (1,082 ) Income (loss) before equity in undistributed subsidiary income 16,047 19,501 215 Equity in undistributed subsidiary excess distributions (8,545 ) (10,826 ) 40,399 Net income $ 7,502 $ 8,675 $ 40,614 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows For the years ended December 31, 2016 2015 2014 Cash flows from operating activities Net income $ 7,502 $ 8,675 $ 40,614 Adjustments: Equity in undistributed subsidiary excess distributions 8,545 10,826 (40,399 ) Change in other assets (497 ) (793 ) (1,172 ) Change in accrued expenses and other liabilities — — (23 ) Net cash from (used in) operating activities 15,550 18,708 (980 ) Cash flows from investing activities Principal payments received on ESOP loan 1,032 992 951 Net cash from investing activities 1,032 992 951 Cash flows from financing activities Repurchase and retirement of common stock (13,215 ) (9,970 ) — Cash dividends paid on common stock (4,133 ) (4,145 ) (1,688 ) Net cash used in financing activities (17,348 ) (14,115 ) (1,688 ) Net change in cash in subsidiary (766 ) 5,585 (1,717 ) Beginning cash in subsidiary 15,309 9,724 11,441 Ending cash in subsidiary $ 14,543 $ 15,309 $ 9,724 |
Selected Quarterly Financial 44
Selected Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Financial Data | For the year ended December 31, 2015 First Second Third Fourth Interest income $ 12,211 $ 12,193 $ 12,147 $ 12,411 Interest expense 686 691 699 738 Net interest income 11,525 11,502 11,448 11,673 Provision for (recovery of) loan losses (724 ) (488 ) (956 ) (1,038 ) Net interest income 12,249 11,990 12,404 12,711 Noninterest income 1,536 1,689 1,709 1,757 Noninterest expense 10,513 10,031 10,232 11,169 Income before income taxes 3,272 3,648 3,881 3,299 Income tax expense (benefit) 1,286 1,424 1,532 1,183 Net income $ 1,986 $ 2,224 $ 2,349 $ 2,116 Basic earnings per common share $ 0.10 $ 0.11 $ 0.12 $ 0.11 Diluted earnings per common share $ 0.10 $ 0.11 $ 0.12 $ 0.11 For the year ended December 31, 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Interest income $ 12,759 $ 12,581 $ 12,845 $ 12,743 Interest expense 856 952 1,014 1,148 Net interest income 11,903 11,629 11,831 11,595 Provision for (recovery of) loan losses (490 ) 1,315 (525 ) (539 ) Net interest income 12,393 10,314 12,356 12,134 Noninterest income 1,594 1,537 1,637 1,777 Noninterest expense 10,930 10,506 9,912 10,194 Income before income taxes 3,057 1,345 4,081 3,717 Income tax expense 1,153 514 1,573 1,458 Net income $ 1,904 $ 831 $ 2,508 $ 2,259 Basic earnings per common share $ 0.10 $ 0.04 $ 0.13 $ 0.12 Diluted earnings per common share $ 0.10 $ 0.04 $ 0.13 $ 0.12 |
Summary of Significant Accoun45
Summary of Significant Accounting Policies - Mortgage Servicing Rights (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Principal Amount Outstanding of Loans Held-in-portfolio | $ 106,400,000 | $ 125,100,000 |
Escrow deposit | 2,700,000 | 3,400,000 |
Fair value of mortgage servicing rights | 612,000 | 724,000 |
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance | $ 0 | $ 16,000 |
Summary of Significant Accoun46
Summary of Significant Accounting Policies - Premises and Equipment (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Building and building improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 25 years |
Building and building improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 40 years |
Building Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 10 years |
Building Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 20 years |
Furniture and equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 5 years |
Furniture and equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 15 years |
Computer Equipment And Software [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 2 years |
Computer Equipment And Software [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 5 years |
Automobiles [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 4 years |
Summary of Significant Accoun47
Summary of Significant Accounting Policies - Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||
Deferred Tax Assets, Net | $ 22,411 | $ 26,695 | $ 22,411 | $ 26,695 | |||||||
Total income tax expense (benefit) | 1,458 | $ 1,573 | $ 514 | $ 1,153 | 1,183 | $ 1,532 | $ 1,424 | $ 1,286 | 4,698 | 5,425 | $ (31,317) |
Unrecognized tax benefits | $ 57 | $ 108 | $ 57 | $ 108 | $ 79 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings (Loss) Per Share, Basic and Diluted [Abstract] | |||||||||||
Net income (loss) available to common stockholders | $ 2,259 | $ 2,508 | $ 831 | $ 1,904 | $ 2,116 | $ 2,349 | $ 2,224 | $ 1,986 | $ 7,502 | $ 8,675 | $ 40,614 |
Average common shares outstanding (shares) | 19,673,416 | 20,708,775 | 21,101,966 | ||||||||
Less: | |||||||||||
Unearned ESOP shares (shares) | (682,362) | (780,227) | (905,235) | ||||||||
Unvested restricted stock shares (shares) | (3,103) | (10,545) | (19,460) | ||||||||
Weighted average common shares outstanding (shares) | 18,987,951 | 19,918,003 | 20,177,271 | ||||||||
Add - Net effect of dilutive stock options and unvested restricted stock | 59,188 | 3,516 | 9,105 | ||||||||
Weighted average diluted common shares outstanding (shares) | 19,047,139 | 19,921,519 | 20,186,376 | ||||||||
Basic earnings (loss) per common share (usd per share) | $ 0.12 | $ 0.13 | $ 0.04 | $ 0.10 | $ 0.11 | $ 0.12 | $ 0.11 | $ 0.10 | $ 0.40 | $ 0.44 | $ 2.01 |
Diluted earnings (loss) per common share (usd per share) | $ 0.12 | $ 0.13 | $ 0.04 | $ 0.10 | $ 0.11 | $ 0.12 | $ 0.11 | $ 0.10 | $ 0.39 | $ 0.44 | $ 2.01 |
Number of antidilutive stock options excluded from the diluted earnings per share calculation | 536,459 | 536,459 | 0 | ||||||||
Weighted average exercise price of anti-dilutive option shares | $ 12.99 | $ 12.99 | $ 0 |
Securities - Fair Value of Secu
Securities - Fair Value of Securites (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | $ 106,603 | $ 113,865 |
Available-for-sale Securities, Gross Unrealized Gain | 659 | 928 |
Available-for-sale Securities, Gross Unrealized Losses | (50) | (40) |
Available-for-sale Securities | 107,212 | 114,753 |
Certificates of deposit [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 85,938 | 87,901 |
Available-for-sale Securities, Gross Unrealized Gain | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | 85,938 | 87,901 |
Equity mutual fund [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 500 | 500 |
Available-for-sale Securities, Gross Unrealized Gain | 0 | 7 |
Available-for-sale Securities, Gross Unrealized Losses | (1) | 0 |
Available-for-sale Securities | 499 | 507 |
Mortgage - backed securities - residential [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 14,561 | 18,330 |
Available-for-sale Securities, Gross Unrealized Gain | 644 | 880 |
Available-for-sale Securities, Gross Unrealized Losses | (21) | (30) |
Available-for-sale Securities | 15,184 | 19,180 |
Collateralized mortgage obligations - residential [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 5,587 | 7,111 |
Available-for-sale Securities, Gross Unrealized Gain | 15 | 41 |
Available-for-sale Securities, Gross Unrealized Losses | (28) | (10) |
Available-for-sale Securities | 5,574 | 7,142 |
SBA-guaranteed loan participation certificates [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 17 | 23 |
Available-for-sale Securities, Gross Unrealized Gain | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | $ 17 | $ 23 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities Pledged as Collateral | $ 4,700 | $ 6,000 |
Amortized cost and fair values of securities | ||
Total amortized cost | 106,603 | 113,865 |
Available-for-sale Securities | 107,212 | 114,753 |
Available-for-sale Debt Securities, Amortized Cost Basis | 106,103 | |
Available-for-sale Securities, Debt Securities | 106,713 | |
Certificates of Deposit [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 85,938 | 87,901 |
Available-for-sale Securities | 85,938 | 87,901 |
Mortgage - backed securities - residential [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 14,561 | 18,330 |
Available-for-sale Securities | 15,184 | 19,180 |
Collateralized mortgage obligations - residential [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 5,587 | 7,111 |
Available-for-sale Securities | 5,574 | 7,142 |
SBA-guaranteed loan participation certificates [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 17 | 23 |
Available-for-sale Securities | $ 17 | $ 23 |
Securities - Proceeds and Gross
Securities - Proceeds and Gross Gains (Losses) From Sale of Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | |||
Proceeds | $ 46 | $ 0 | $ 3,663 |
Gross gains | 46 | 0 | 0 |
Gross losses | $ 0 | $ 0 | $ 7 |
Securities - Unrealized Losses
Securities - Unrealized Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | $ 5,377 | $ 0 |
12 Months or More, Fair Value | 1,028 | 3,023 |
Fair Value, Total | 6,405 | 3,023 |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | (40) | 0 |
12 Months or More, Unrealized Loss | (10) | (40) |
Unrealized Loss, Total | (50) | (40) |
Residential Mortgage Backed Securities [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 1,187 | 0 |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | (21) | 0 |
12 Months or More, Unrealized Loss | 0 | (30) |
Unrealized Loss, Total | (21) | (30) |
Mortgage Backed Securities Residential [Member] | ||
Amortized cost and fair values of securities | ||
12 Months or More, Fair Value | 0 | 1,724 |
Fair Value, Total | 1,187 | 1,724 |
Collateralized mortgage obligations - residential [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 3,691 | 0 |
12 Months or More, Fair Value | 1,028 | 1,299 |
Fair Value, Total | 4,719 | 1,299 |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | (18) | 0 |
12 Months or More, Unrealized Loss | (10) | (10) |
Unrealized Loss, Total | (28) | $ (10) |
Equity Funds [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 499 | |
12 Months or More, Fair Value | 0 | |
Fair Value, Total | 499 | |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | (1) | |
12 Months or More, Unrealized Loss | 0 | |
Unrealized Loss, Total | $ (1) |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Loans receivable | ||||
Total loans | $ 1,319,416,000 | $ 1,240,327,000 | ||
Net deferred loan origination costs | 1,663,000 | 1,621,000 | ||
Allowance for loan losses | (8,127,000) | (9,691,000) | $ (11,990,000) | $ (14,154,000) |
Loans, net | 1,312,952,000 | 1,232,257,000 | ||
One-to-four family residential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | 135,218,000 | 159,501,000 | ||
Allowance for loan losses | (1,168,000) | (1,704,000) | ||
Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Total loans | 542,887,000 | 506,026,000 | ||
Allowance for loan losses | (3,647,000) | (3,610,000) | ||
Nonresidential Real Estate [Member] | ||||
Loans receivable | ||||
Total loans | 182,152,000 | 226,735,000 | ||
Allowance for loan losses | (1,794,000) | (2,582,000) | ||
Construction and land loans [Member] | ||||
Loans receivable | ||||
Total loans | 1,302,000 | 1,313,000 | ||
Allowance for loan losses | (32,000) | (43,000) | ||
Commercial loans [Member] | ||||
Loans receivable | ||||
Total loans | 103,063,000 | 79,516,000 | ||
Allowance for loan losses | (733,000) | (654,000) | ||
Commercial leases [Member] | ||||
Loans receivable | ||||
Total loans | 352,539,000 | 265,405,000 | ||
Allowance for loan losses | (714,000) | (1,073,000) | ||
Consumer loans [Member] | ||||
Loans receivable | ||||
Total loans | 2,255,000 | 1,831,000 | ||
Allowance for loan losses | (39,000) | (25,000) | ||
Nonresidential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | $ 182,152,000 | $ 226,735,000 | ||
No Public Rating [Member] | Maximum [Member] | Commercial leases [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Commercial Leases, Maturity | 5 years | |||
Collateralized Loan [Member] | Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Collateralized Loan Receivable, Percentage Of Collateral Located Outside Primary Market Area | 46.50% | |||
Collateralized Loan [Member] | Nonresidential real estate loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Projected Cash Flow To Loan Debt Service Requirement | 120.00% | |||
Collateralized Loan [Member] | Maximum [Member] | Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Total loans | $ 5,000,000 | |||
Collateralized Loan [Member] | Maximum [Member] | Nonresidential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | 3,000,000 | |||
Collateralized Loan [Member] | Minimum [Member] | Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Total loans | 250,000 | |||
Collateralized Loan [Member] | Minimum [Member] | Nonresidential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | $ 250,000 | |||
Mortgage loans above $400,000 [Member] | Collateralized Loan [Member] | Multi-family mortgage loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Projected Cash Flow To Loan Debt Service Requirement | 120.00% | |||
Conforming Loans [Member] | $2,500,000 [Member] | Maximum [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 424,000 | |||
Adjustable Rate And Fixed Rate Residential Mortgage [Member] | $2,500,000 [Member] | Maximum [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 2,500,000 | |||
First Mortgage [Member] | Residential Mortgage [Member] | ||||
Loans receivable | ||||
Percent Threshold On Loan To Value Ratios Requiring Private Mortgage Insurance | 80.00% |
Loans Receivable - Loan Origina
Loans Receivable - Loan Origination and Risk Management (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 1,319,416,000 | $ 1,240,327,000 |
Maximum [Member] | Finance Leases Financing Receivable [Member] | Investment Grade [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding credit exposure | 15,000,000 | |
Multi-family mortgage loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 542,887,000 | 506,026,000 |
Multi-family mortgage loans [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateralized Loan Receivable, Percentage Of Collateral Located Outside Primary Market Area | 46.50% | |
Multi-family mortgage loans [Member] | Collateralized Loan [Member] | Mortgage loans above $400,000 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Projected Cash Flow To Loan Debt Service Requirement | 120.00% | |
Multi-family mortgage loans [Member] | Minimum [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 250,000 | |
Multi-family mortgage loans [Member] | Maximum [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 5,000,000 | |
Loan amount as a percentage to value of property collateralized | 0.8 | |
Nonresidential real estate loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 182,152,000 | 226,735,000 |
Nonresidential real estate loans [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Projected Cash Flow To Loan Debt Service Requirement | 120.00% | |
Nonresidential real estate loans [Member] | Collateralized Loan [Member] | Fixed Rate Nonresidential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortization period | 15 years | |
Nonresidential real estate loans [Member] | Minimum [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 250,000 | |
Maturity period | 3 years | |
Balloon maturity | 3 years | |
Amortization period | 20 years | |
Nonresidential real estate loans [Member] | Maximum [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 3,000,000 | |
Loan amount as a percentage to value of property collateralized | 0.8 | |
Maturity period | 5 years | |
Balloon maturity | 5 years | |
Amortization period | 30 years | |
Residential mortgage [Member] | Minimum [Member] | Fixed rate residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maturity period | 10 years | |
Residential mortgage [Member] | Minimum [Member] | Adjustable rate residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maturity period | 1 year | |
Residential mortgage [Member] | Maximum [Member] | Adjustable Rate And Fixed Rate Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maturity period | 30 years | |
Residential mortgage [Member] | Maximum [Member] | Fixed rate residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maturity period | 30 years | |
Residential mortgage [Member] | Maximum [Member] | Adjustable rate residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortization period | 30 years | |
Maturity period | 5 years | |
Residential mortgage [Member] | Maximum [Member] | $2,500,000 [Member] | Adjustable Rate And Fixed Rate Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | $ 2,500,000 | |
Residential mortgage [Member] | Maximum [Member] | $2,500,000 [Member] | Conforming Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 424,000 | |
Finance Leases Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 352,539,000 | $ 265,405,000 |
Finance Leases Financing Receivable [Member] | Minimum [Member] | Internal Credit Assessment [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of borrowers with credit rating | 50.00% | |
Finance Leases Financing Receivable [Member] | Maximum [Member] | No Public Rating [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial Leases, Maturity | 5 years | |
Outstanding credit exposure | $ 5,000,000 | |
Finance Leases Financing Receivable [Member] | Maximum [Member] | Investment Grade [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial Leases, Maturity | 7 years | |
Outstanding credit exposure | $ 10,000,000 |
Loans Receivable - Allowance fo
Loans Receivable - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | $ 26 | $ 44 | ||
Collectively evaluated for impairment | 8,101 | 9,647 | ||
Allowance for loan losses | 8,127 | 9,691 | $ 11,990 | $ 14,154 |
Individually evaluated for impairment | 6,009 | 7,650 | ||
Collectively evaluated for impairment | 1,313,407 | 1,232,677 | ||
Total loans | 1,319,416 | 1,240,327 | ||
Net deferred loan origination costs | 1,663 | 1,621 | ||
Loans, net | 1,312,952 | 1,232,257 | ||
One-to-four family residential real estate loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 1,168 | 1,704 | ||
Allowance for loan losses | 1,168 | 1,704 | ||
Individually evaluated for impairment | 4,962 | 2,672 | ||
Collectively evaluated for impairment | 130,256 | 156,829 | ||
Total loans | 135,218 | 159,501 | ||
Multi-family mortgage loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 41 | ||
Collectively evaluated for impairment | 3,647 | 3,569 | ||
Allowance for loan losses | 3,647 | 3,610 | ||
Individually evaluated for impairment | 787 | 2,879 | ||
Collectively evaluated for impairment | 542,100 | 503,147 | ||
Total loans | 542,887 | 506,026 | ||
Nonresidential Real Estate [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 26 | 3 | ||
Collectively evaluated for impairment | 1,768 | 2,579 | ||
Allowance for loan losses | 1,794 | 2,582 | ||
Individually evaluated for impairment | 260 | 2,099 | ||
Collectively evaluated for impairment | 181,892 | 224,636 | ||
Total loans | 182,152 | 226,735 | ||
Construction and land loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 32 | 43 | ||
Allowance for loan losses | 32 | 43 | ||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 1,302 | 1,313 | ||
Total loans | 1,302 | 1,313 | ||
Commercial loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 733 | 654 | ||
Allowance for loan losses | 733 | 654 | ||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 103,063 | 79,516 | ||
Total loans | 103,063 | 79,516 | ||
Commercial leases [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 714 | 1,073 | ||
Allowance for loan losses | 714 | 1,073 | ||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 352,539 | 265,405 | ||
Total loans | 352,539 | 265,405 | ||
Consumer loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 39 | 25 | ||
Allowance for loan losses | 39 | 25 | ||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 2,255 | 1,831 | ||
Total loans | $ 2,255 | $ 1,831 |
Loans Receivable - Activity in
Loans Receivable - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | $ 9,691 | $ 11,990 | $ 9,691 | $ 11,990 | $ 14,154 | ||||||
Loans charged off | (2,361) | (1,143) | (3,974) | ||||||||
Recoveries | 1,036 | 2,050 | 2,546 | ||||||||
Net charge-off | 1,325 | (907) | 1,428 | ||||||||
Provision for (recovery of) loan losses | $ (539) | $ (525) | $ 1,315 | (490) | $ (1,038) | $ (956) | $ (488) | $ (724) | (239) | (3,206) | (736) |
Ending balance | 8,127 | 9,691 | 8,127 | 9,691 | 11,990 | ||||||
One-to-four family residential real estate loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 1,704 | 1,704 | |||||||||
Loans charged off | (539) | (386) | (873) | ||||||||
Recoveries | 321 | 702 | 418 | ||||||||
Ending balance | 1,168 | 1,704 | 1,168 | 1,704 | |||||||
Multi-family mortgage loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 3,610 | 3,610 | |||||||||
Loans charged off | (79) | (198) | (1,230) | ||||||||
Recoveries | 162 | 182 | 100 | ||||||||
Ending balance | 3,647 | 3,610 | 3,647 | 3,610 | |||||||
Nonresidential real estate loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Loans charged off | (1,718) | (391) | (1,727) | ||||||||
Recoveries | 200 | 509 | 423 | ||||||||
Construction and land loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 43 | 43 | |||||||||
Loans charged off | 0 | 0 | (1) | ||||||||
Recoveries | 35 | 44 | 377 | ||||||||
Ending balance | 32 | 43 | 32 | 43 | |||||||
Commercial loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 654 | 654 | |||||||||
Loans charged off | 0 | (152) | (123) | ||||||||
Recoveries | 309 | 611 | 1,225 | ||||||||
Ending balance | 733 | 654 | 733 | 654 | |||||||
Commercial leases [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 1,073 | 1,073 | |||||||||
Loans charged off | 0 | 0 | (8) | ||||||||
Recoveries | 7 | 1 | 0 | ||||||||
Ending balance | 714 | 1,073 | 714 | 1,073 | |||||||
Consumer loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | $ 25 | 25 | |||||||||
Loans charged off | (25) | (16) | (12) | ||||||||
Recoveries | 2 | 1 | $ 3 | ||||||||
Ending balance | $ 39 | $ 25 | $ 39 | $ 25 |
Loans Receivable - Loans Indivi
Loans Receivable - Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loans individually evaluated for impairment by class loans | ||
Loan Balance | $ 6,669 | $ 7,666 |
Recorded Investment | 5,721 | 7,051 |
Partial Charge-off | 1,005 | 639 |
Average Investment in Impaired Loans | 4,178 | 7,920 |
Interest Income Recognized | 120 | 238 |
Loan Balance (With an allowance recorded) | 262 | 580 |
Recorded Investment (With an allowance recorded) | 260 | 557 |
Partial Charge-offs (With an allowance recorded) | 21 | 27 |
Allowance for loan losses (With an allowance recorded) | 26 | 44 |
Average Investment in Impaired Loans (With an allowance recorded) | 164 | 2,620 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 0 | 0 |
Impaired Loan, Total | 6,931 | 8,246 |
Recorded Investment, Total | 5,981 | 7,608 |
Partial Charge-offs, Total | 1,026 | 666 |
Average Investment in Impaired Loans, Total | 4,342 | 10,540 |
Interest Income Recognized, Total | 120 | 238 |
One-to-four family residential real estate loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 5,379 | 3,203 |
Recorded Investment | 4,548 | 2,637 |
Partial Charge-off | 886 | 637 |
Average Investment in Impaired Loans | 2,947 | 2,708 |
Interest Income Recognized | 70 | 24 |
Allowance for loan losses (With an allowance recorded) | 0 | 0 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 503 | 23 |
Recorded Investment | 386 | 21 |
Partial Charge-off | 119 | 2 |
Average Investment in Impaired Loans | 251 | 859 |
Interest Income Recognized | 9 | 0 |
Multi-family mortgage loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 787 | 1,863 |
Recorded Investment | 787 | 1,837 |
Partial Charge-off | 0 | 0 |
Average Investment in Impaired Loans | 980 | 1,962 |
Interest Income Recognized | 41 | 78 |
Loan Balance (With an allowance recorded) | 518 | |
Recorded Investment (With an allowance recorded) | 518 | |
Partial Charge-offs (With an allowance recorded) | 0 | |
Allowance for loan losses (With an allowance recorded) | 0 | 41 |
Average Investment in Impaired Loans (With an allowance recorded) | 1,181 | |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 0 | |
Wholesale commercial lending [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 511 | |
Recorded Investment | 507 | |
Partial Charge-off | 0 | |
Average Investment in Impaired Loans | 514 | |
Interest Income Recognized | 34 | |
Nonresidential real estate loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 2,066 | |
Recorded Investment | 2,049 | |
Partial Charge-off | 0 | |
Average Investment in Impaired Loans | 1,877 | |
Interest Income Recognized | 102 | |
Loan Balance (With an allowance recorded) | 262 | 62 |
Recorded Investment (With an allowance recorded) | 260 | 39 |
Partial Charge-offs (With an allowance recorded) | 21 | 27 |
Allowance for loan losses (With an allowance recorded) | 26 | 3 |
Average Investment in Impaired Loans (With an allowance recorded) | 164 | 1,439 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 0 | 0 |
Consumer loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Allowance for loan losses (With an allowance recorded) | $ 0 | $ 0 |
Loans Receivable - Nonaccrual L
Loans Receivable - Nonaccrual Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | $ 3,738 | $ 3,949 |
Recorded Investment | 3,296 | 3,572 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 2,861 | 2,704 |
Recorded Investment | 2,483 | 2,263 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 428 | 92 |
Recorded Investment | 368 | 192 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 187 | 829 |
Recorded Investment | 185 | 821 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
Nonresidential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 262 | 324 |
Recorded Investment | 260 | 296 |
Loans Past Due Over 90 Days, still accruing | $ 0 | $ 0 |
Loans Receivable - Past Due Loa
Loans Receivable - Past Due Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | $ 6,239 | $ 7,863 |
Recorded investment, loans not past due | 1,308,023 | 1,226,669 |
Recorded investment, total | 1,314,262 | 1,234,532 |
One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 3,554 | 4,569 |
Recorded investment, loans not past due | 92,665 | 109,893 |
Recorded investment, total | 96,219 | 114,462 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 1,146 | 655 |
Recorded investment, loans not past due | 37,179 | 43,557 |
Recorded investment, total | 38,325 | 44,212 |
Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 1,228 | 1,755 |
Recorded investment, loans not past due | 294,223 | 312,620 |
Recorded investment, total | 295,451 | 314,375 |
Wholesale commercial lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 243,944 | 188,178 |
Recorded investment, total | 243,944 | 188,178 |
Nonresidential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 260 | 296 |
Recorded investment, loans not past due | 178,644 | 223,018 |
Recorded investment, total | 178,904 | 223,314 |
Construction loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | |
Recorded investment, loans not past due | 950 | 21 |
Recorded investment, total | 950 | 21 |
Land loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 349 | 1,279 |
Recorded investment, total | 349 | 1,279 |
Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 154 |
Recorded investment, loans not past due | 36,086 | 29,890 |
Recorded investment, total | 36,086 | 30,044 |
Commercial loans - Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Commercial Loans - Municipal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, loans not past due | 31,847 | 17,873 |
Recorded investment, total | 31,847 | 17,873 |
Commercial Loans - Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded investment, loans not past due | 35,455 | 31,862 |
Recorded investment, total | 35,455 | 31,862 |
Commercial Leases - Investment rated commercial leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 51 | 413 |
Recorded investment, loans not past due | 269,430 | 170,859 |
Recorded investment, total | 269,481 | 171,272 |
Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 84,988 | 95,800 |
Recorded investment, total | 84,988 | 95,800 |
Consumer loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 21 |
Recorded investment, loans not past due | 2,263 | 1,819 |
Recorded investment, total | 2,263 | 1,840 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 2,304 | 3,025 |
30-59 Days Past Due [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 984 | 2,000 |
30-59 Days Past Due [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 664 | 299 |
30-59 Days Past Due [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 605 | 651 |
30-59 Days Past Due [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
30-59 Days Past Due [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
30-59 Days Past Due [Member] | Construction loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | |
30-59 Days Past Due [Member] | Land loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
30-59 Days Past Due [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 4 |
30-59 Days Past Due [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
30-59 Days Past Due [Member] | Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
30-59 Days Past Due [Member] | Commercial Leases - Investment rated commercial leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 51 | 50 |
30-59 Days Past Due [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
30-59 Days Past Due [Member] | Consumer loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 21 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 888 | 1,532 |
60-89 Days Past Due [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 335 | 572 |
60-89 Days Past Due [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 114 | 164 |
60-89 Days Past Due [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 439 | 283 |
60-89 Days Past Due [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
60-89 Days Past Due [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
60-89 Days Past Due [Member] | Construction loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | |
60-89 Days Past Due [Member] | Land loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
60-89 Days Past Due [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 150 |
60-89 Days Past Due [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
60-89 Days Past Due [Member] | Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
60-89 Days Past Due [Member] | Commercial loans - Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
60-89 Days Past Due [Member] | Commercial Leases - Investment rated commercial leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 363 |
60-89 Days Past Due [Member] | Consumer loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 3,047 | 3,306 |
90 Days or Greater Past Due [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 2,235 | 1,997 |
90 Days or Greater Past Due [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 368 | 192 |
90 Days or Greater Past Due [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 184 | 821 |
90 Days or Greater Past Due [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 260 | 296 |
90 Days or Greater Past Due [Member] | Construction loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | |
90 Days or Greater Past Due [Member] | Land loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | Commercial Loans - Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | Commercial loans - Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | Commercial Leases - Investment rated commercial leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
90 Days or Greater Past Due [Member] | Consumer loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | $ 0 | $ 0 |
Loans Receivable - Aging of Rec
Loans Receivable - Aging of Recorded Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | $ 6,239 | $ 7,863 |
Recorded Investment, Loans Not Past Due | 1,308,023 | 1,226,669 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 1,146 | 655 |
Recorded Investment, Loans Not Past Due | 37,179 | 43,557 |
Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 1,228 | 1,755 |
Recorded Investment, Loans Not Past Due | 294,223 | 312,620 |
Construction loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | |
Recorded Investment, Loans Not Past Due | 950 | 21 |
Land loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded Investment, Loans Not Past Due | 349 | 1,279 |
Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 154 |
Recorded Investment, Loans Not Past Due | 36,086 | 29,890 |
Commercial loans - Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | $ 0 | $ 0 |
Loans Receivable - Troubled Deb
Loans Receivable - Troubled Debt Restructuring (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Troubled Debt Restructurings | ||
Financing receivable modifications | $ 341 | $ 2,678 |
Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 205 | 2,504 |
Non Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 136 | 174 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 205 | 1,385 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | Non Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 136 | 174 |
Multi-family mortgage loans [Member] | Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | $ 0 | $ 1,119 |
Loans Receivable - Modified Tro
Loans Receivable - Modified Troubled Debt Restructuring (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)loan | Dec. 31, 2015USD ($)loan | |
Financing Receivable, Modifications [Line Items] | ||
Loans modified | $ 868 | $ 1,900 |
Loans by class modified as TDRs | ||
Number of Loans | loan | 1 | 7 |
Pre-Modification outstanding recorded investment | $ 63 | $ 1,016 |
Post-Modification outstanding recorded investment | $ 63 | 889 |
Due to reduction in interest rate | 0 | |
Due to extension of maturity date | 757 | |
Due to permanent reduction in recorded investment | 132 | |
Total | $ 889 | |
One-to-four family residential real estate loans [Member] | ||
Loans by class modified as TDRs | ||
Number of Loans | loan | 1 | 6 |
Pre-Modification outstanding recorded investment | $ 63 | $ 401 |
Post-Modification outstanding recorded investment | 63 | 274 |
Due to reduction in interest rate | 0 | 0 |
Due to extension of maturity date | 63 | 142 |
Due to permanent reduction in recorded investment | 0 | 132 |
Total | $ 63 | $ 274 |
Multi-family mortgage loans [Member] | ||
Loans by class modified as TDRs | ||
Number of Loans | loan | 0 | 1 |
Pre-Modification outstanding recorded investment | $ 0 | $ 615 |
Post-Modification outstanding recorded investment | $ 0 | 615 |
Nonresidential real estate [Member] | ||
Loans by class modified as TDRs | ||
Due to permanent reduction in recorded investment | 0 | |
Commercial loans - Secured [Member] | ||
Loans by class modified as TDRs | ||
Due to reduction in interest rate | 0 | |
Due to extension of maturity date | 615 | |
Total | $ 615 |
Loans Receivable - Troubled D63
Loans Receivable - Troubled Debt Restructuring - Payment Defaults (Details) | 12 Months Ended | |
Dec. 31, 2016USD ($)loan | Dec. 31, 2015USD ($)loan | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Increase In Allowance For Loan And Leases Losses | $ 0 | $ 0 |
One-to-four family residential real estate loans [Member] | ||
Loans by class modified as TDRs with payment default | ||
Number of loans | loan | 2 | 2 |
Recorded investment | $ 87,000 | $ 43,000 |
Loans Receivable - Credit Quali
Loans Receivable - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Credit Quality Indicators | ||
Total loans | $ 1,319,416 | $ 1,240,327 |
One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 135,218 | 159,501 |
One to Four Family Residential Real Estate Loans-Owner occupied [Member] [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 96,629 | 114,961 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 38,589 | 44,540 |
Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 542,887 | 506,026 |
Multi Family Mortgage Loans excluding wholesale [Member] [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 299,183 | 318,157 |
Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 243,704 | 187,869 |
Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 182,152 | 226,735 |
Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 946 | 21 |
Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 356 | 1,292 |
Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 36,010 | 29,991 |
Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 35,372 | 31,809 |
Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 31,681 | 17,716 |
Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 268,022 | 170,100 |
Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 84,517 | 95,305 |
Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 2,255 | 1,831 |
Nonaccrual [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 3,302 | 3,251 |
Nonaccrual [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 2,486 | 1,936 |
Nonaccrual [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 369 | 192 |
Nonaccrual [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 187 | 828 |
Nonaccrual [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 260 | 295 |
Nonaccrual [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,083 | 2,163 |
Special Mention [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 219 |
Special Mention [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 122 | 344 |
Special Mention [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 1,600 |
Special Mention [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 800 | 0 |
Special Mention [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 161 | 0 |
Special Mention [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 3,629 | 12,451 |
Substandard [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 629 | 576 |
Substandard [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 41 | 271 |
Substandard [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,048 | 4,656 |
Substandard [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 511 |
Substandard [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,845 | 4,981 |
Substandard [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 842 |
Substandard [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 66 | 614 |
Substandard [Member] | Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Pass [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,311,402 | 1,222,462 |
Pass [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 93,514 | 112,449 |
Pass [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 38,179 | 43,858 |
Pass [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 297,826 | 312,329 |
Pass [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 243,704 | 187,358 |
Pass [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 180,047 | 219,859 |
Pass [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 946 | 21 |
Pass [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 356 | 450 |
Pass [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 35,944 | 29,377 |
Pass [Member] | Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 35,372 | 31,809 |
Pass [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 30,881 | 17,716 |
Pass [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 268,022 | 170,100 |
Pass [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 84,356 | 95,305 |
Pass [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | $ 2,255 | $ 1,831 |
Loans Receivable - Narrative (D
Loans Receivable - Narrative (Details) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016USD ($)loan | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation of reserves allocation | $ 434,000 | $ 881,000 | |
Reserve For Uncollected Loan Interest | 199,000 | 181,000 | |
Financing receivable modifications | 341,000 | 2,678,000 | |
Outstanding Commitments To Borrowers Loans Classified As Troubled Debt Restructurings | 0 | ||
Troubled Debt Restructurings Value Of Decreased Interest Income | 0 | 0 | |
Financing Receivable, Modifications, Increase In Allowance For Loan And Leases Losses | 0 | 0 | |
Increased value of allowances for loan losses | 0 | 0 | |
Charges regarding TDRs | 0 | 127,000 | |
Loans modified | 868,000 | 1,900,000 | |
Financing Receivable, Number of Contracts Declassified as Troubled Debt Restructurings | loan | 6 | ||
Financing Receivable, Recorded Investment Declassified as Troubled Debt Restructurings | $ 1,500,000 | ||
Allowance for Loan and Lease Losses [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation of reserves allocation | $ 0 | $ 0 |
Other Real Estate (Details)
Other Real Estate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Other Real Estate, Disposals | $ (4,053) | $ (4,674) | |
other real estate owned at carrying value before valuation allowance | 4,344 | 8,053 | |
Real Estate Owned, Valuation Allowance | (449) | (1,042) | $ (896) |
New foreclosed properties | 1,251 | 5,875 | |
Other Real Estate, Valuation Adjustments | (314) | (548) | |
Real Estate Owned, Valuation Allowance, Valuation Increase | 314 | 548 | |
reduction in valuation allowance for sales of OREO | (907) | (402) | |
Other Real Estate Owned At Carrying Value | 3,895 | 7,011 | $ 6,358 |
Mortgage Loans in Process of Foreclosure, Amount | 1,600 | 1,800 | |
One to Four Family Residential Real Estate Loans [Member] | |||
other real estate owned at carrying value before valuation allowance | 1,702 | 2,684 | |
Real Estate Owned, Valuation Allowance | (137) | (63) | |
Other Real Estate Owned At Carrying Value | 1,565 | 2,621 | |
Multi Family Mortgage Loans [Member] | |||
other real estate owned at carrying value before valuation allowance | 370 | 1,025 | |
Real Estate Owned, Valuation Allowance | 0 | (74) | |
Other Real Estate Owned At Carrying Value | 370 | 951 | |
Nonresidential Real Estate [Member] | |||
other real estate owned at carrying value before valuation allowance | 1,171 | 1,986 | |
Real Estate Owned, Valuation Allowance | (105) | (239) | |
Other Real Estate Owned At Carrying Value | 1,066 | 1,747 | |
Land [Member] | |||
other real estate owned at carrying value before valuation allowance | 1,101 | 2,358 | |
Real Estate Owned, Valuation Allowance | (207) | (666) | |
Other Real Estate Owned At Carrying Value | $ 894 | $ 1,692 |
Secondary Mortgage Market Act67
Secondary Mortgage Market Activities - Activity For Capitalized Mortgage Servicing Rights And Related Valuation Reserve (Details) | Dec. 31, 2016USD ($) |
Valuation allowance | |
Beginning of year | $ 16,000 |
End of year | $ 0 |
Secondary Mortgage Market Act68
Secondary Mortgage Market Activities - Fair Value Assumptions (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Fair value of mortgage servicing rights | $ 612 | $ 724 |
Secondary Mortgage Market Act69
Secondary Mortgage Market Activities - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Servicing Rights At Fair Value [Line Items] | ||
Escrow deposit | $ 2.7 | $ 3.4 |
Premises and Equipment - Year E
Premises and Equipment - Year End (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 64,954 | $ 67,827 | |
Accumulated depreciation | (33,541) | (35,101) | |
Property and equipment, net | 31,413 | 32,726 | |
Depreciation | 2,000 | 2,100 | $ 2,200 |
Land and land improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 13,820 | 13,594 | |
Building and building improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 37,416 | 37,316 | |
Furniture and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 9,660 | 9,693 | |
Computer equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 4,058 | $ 7,224 |
Premises and Equipment - Schedu
Premises and Equipment - Schedule of Future Minimum Payments for Operating Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant, Equipment And Leases [Abstract] | |||
Rent expense, net of sublease income | $ 399 | $ 393 | $ 387 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,017 | 469 | ||
2,018 | 479 | ||
2,019 | 471 | ||
2,020 | 459 | ||
2,021 | 464 | ||
Thereafter | 4,243 | ||
Total | $ 6,585 |
Premises and Equipment - Sche72
Premises and Equipment - Schedule of Future Proceeds for Subleases (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Property, Plant, Equipment And Leases [Abstract] | |
2,015 | $ 8 |
Core Deposit Intangible - Sched
Core Deposit Intangible - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-lived Intangible Assets [Roll Forward] | |||||
Amortization | $ (523) | $ (550) | $ (578) | ||
Core Deposits [Member] | |||||
Finite-lived Intangible Assets [Roll Forward] | |||||
Balance at the beginning of the year | 1,305 | 1,855 | |||
Amortization | (523) | (550) | (578) | ||
Additions | 0 | 0 | |||
Net Carrying Value | $ 1,305 | $ 1,855 | $ 1,855 | $ 782 | $ 1,305 |
Gross carrying amount | 5,932 | 5,932 | |||
Accumulated amortization | $ (5,150) | $ (4,627) |
Core Deposit Intangible - Sch74
Core Deposit Intangible - Schedule of Finite-Lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangibles | $ 523 | $ 550 | $ 578 |
Core Deposits [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangibles | 523 | $ 550 | $ 578 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2,015 | 496 | ||
2,016 | 184 | ||
2,017 | 61 | ||
2,018 | 34 | ||
2,019 | $ 7 |
Deposits - Schedule of Deposits
Deposits - Schedule of Deposits By Type (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Noninterest-bearing demand deposits | $ 249,539 | $ 254,830 |
Savings deposits | 160,002 | 156,752 |
Money market accounts | 311,183 | 329,654 |
Interest-bearing NOW accounts | 267,054 | 248,982 |
Time Deposits | $ 351,612 | $ 222,701 |
Deposits - Time Deposits, By Ma
Deposits - Time Deposits, By Maturity (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Deposits [Abstract] | |
2,017 | $ 236,859 |
2,018 | 79,166 |
2,019 | 19,508 |
2,020 | 7,650 |
2,021 | $ 8,429 |
Deposits - Narrative (Details)
Deposits - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Time deposits, $100,000 or more | $ 18.7 | $ 15.2 |
Repurchase Agreements (Details)
Repurchase Agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank, Advances [Line Items] | ||
Borrowings, Amount | $ 51,069 | $ 64,318 |
Available-for-sale Securities Pledged as Collateral | 4,700 | 6,000 |
Carrying Value of Federal Funds Purchased, Securities Sold under Agreements to Repurchase, and Deposits Received for Securities Loaned | 1,069 | 2,318 |
Federal Home Loan Bank Advances [Member] | Within 1 year [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Borrowings, Amount | $ 50,000 | $ 62,000 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Borrowings, Contractual Rate | 0.66% | 0.28% |
Borrowings, Amount | $ 51,069 | $ 64,318 |
Available-for-sale Securities Pledged as Collateral | 4,700 | $ 6,000 |
First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Collateral | 80,100 | |
Multi-family mortgage loans [Member] | ||
Debt Instrument [Line Items] | ||
Collateral | $ 354,300 | |
Federal Home Loan Bank Advances [Member] | Within 1 year [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings, Contractual Rate | 0.67% | 0.29% |
Borrowings, Amount | $ 50,000 | $ 62,000 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings, Contractual Rate | 0.25% | 0.25% |
Borrowings, Amount | $ 1,069 | $ 2,318 |
Federal Home Loan Bank Borrowings [Member] | ||
Debt Instrument [Line Items] | ||
Increase in line of credit | $ 357,400 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||||||||||
Current benefit | $ 308 | $ 346 | $ 363 | ||||||||
Deferred benefit | 4,390 | 5,079 | 3,437 | ||||||||
Deferred tax valuation allowance | 0 | 0 | (35,117) | ||||||||
Total income tax expense (benefit) | $ 1,458 | $ 1,573 | $ 514 | $ 1,153 | $ 1,183 | $ 1,532 | $ 1,424 | $ 1,286 | $ 4,698 | $ 5,425 | $ (31,317) |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||||||||||
Statutory federal corporate tax rate | 34.00% | 34.00% | 34.00% | ||||||||
Benefit computed at the statutory federal tax rate | $ 4,148 | $ 4,794 | $ 3,161 | ||||||||
State taxes and other, net | 464 | 626 | 664 | ||||||||
Bank owned life insurance | (70) | (66) | (80) | ||||||||
ESOP/Share based compensation | 156 | 71 | 55 | ||||||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | 0 | 0 | (35,117) | ||||||||
Total income tax expense (benefit) | $ 1,458 | $ 1,573 | $ 514 | $ 1,153 | $ 1,183 | $ 1,532 | $ 1,424 | $ 1,286 | $ 4,698 | $ 5,425 | $ (31,317) |
Effective income tax rate | 38.51% | 38.48% |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Gross Deferred tax assets: | ||
Allowance for loan losses | $ 3,117 | $ 3,716 |
Alternative minimum tax, general business credit and net operating loss carryforward | 20,857 | 24,799 |
Tax deductible goodwill | 1,466 | 1,783 |
Other | 2,540 | 2,237 |
Total deferred tax assets, gross | 27,980 | 32,535 |
Gross Deferred tax liabilities: | ||
Net deferred loan origination costs | (1,874) | (1,811) |
Purchase accounting adjustments | (2,644) | (2,801) |
Other | (817) | (888) |
Unrealized gain on securities | (234) | (340) |
Gross deferred tax liabilities: | (5,569) | (5,840) |
Net deferred tax asset | $ 22,411 | $ 26,695 |
Income Taxes - Unrecognized Tax
Income Taxes - Unrecognized Tax Balances Roll-forward (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning of year | $ 108 | $ 79 |
Additions based on tax positions related to the current year | 0 | 0 |
Additions for tax positions of prior years | 0 | 29 |
Reductions due to the statute of limitations | (51) | 0 |
End of year | $ 57 | $ 108 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Deferred Tax Assets, Net | $ 22,411 | $ 26,695 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 0 | 0 | $ 35,117 |
Deferred tax not recongized | $ 14,900 | $ 14,900 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | 34.00% | 34.00% |
Income Taxes - Narrative Tax Ca
Income Taxes - Narrative Tax Carryforwards (Details) $ in Millions | Dec. 31, 2016USD ($) |
Alternative Minimum Tax Carryforward Axis [Member] | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforward | $ 3.1 |
Internal Revenue Service (IRS) [Member] | |
Tax Credit Carryforward [Line Items] | |
Operating loss carryforwards | 34.2 |
Tax credit carryforward | 1.3 |
Alternative minimum tax carryforward subject to expiration | 29.7 |
State and Local Jurisdiction [Member] | |
Tax Credit Carryforward [Line Items] | |
Operating loss carryforwards | 77.9 |
Downers Grove National Bank [Member] | |
Tax Credit Carryforward [Line Items] | |
Operating loss carryforwards | $ 7.8 |
Regulatory Matters - Requiremen
Regulatory Matters - Requirements (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Risk Based Ratios [Abstract] | ||
Common Tier 1 Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | 4.50% |
BankFinancial F.S.B. [Member] | ||
Capital [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Amount | $ 168,113 | $ 171,239 |
Total capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 91,386 | 88,881 |
Total capital (to risk-weighted assets), Minimum Capital Ratios Established under Capital Plans, Amount | 114,232 | 111,102 |
Tier One Risk Based Capital [Abstract] | ||
Tier 1 (core) capital (to risk-weighted assets), Actual, Amount | 159,986 | 161,545 |
Tier 1 (core) capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 68,539 | 66,661 |
Tier 1 (core) capital (to risk-weighted assets), Minimum Capital Ratios Established under Capital Plans, Amount | 91,386 | 88,881 |
Tier One Leverage Capital [Abstract] | ||
Tier 1 (core) capital (to adjusted average total assets), Actual, Amount | 159,986 | 161,545 |
Tier 1 (core) capital (to adjusted average total assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 62,303 | 57,039 |
Tier 1 (core) capital (to adjusted average total assets), Minimum Capital Ratios Established under Capital Plans, Amount | $ 77,879 | $ 71,299 |
Risk Based Ratios [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Ratio | 14.72% | 15.41% |
Total capital (to risk-weighted assets), For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets), Minimum Capital Ratios Established under Capital Plans, Ratio | 10.00% | 10.00% |
Tier 1 (core) capital (to risk-weighted assets), Actual, Ratio | 14.01% | 14.54% |
Tier 1 (core) capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.00% | 6.00% |
Tier 1 (core) capital (to risk-weighted assets), Minimum Capital Ratios Established under Capital Plans, Ratio | 8.00% | 8.00% |
CET common tier 1 equity | $ 159,986 | $ 161,545 |
Common Tier 1 to Risk Weighted Assets | 14.01% | 14.54% |
Common Tier 1 Risk Based Capital Required for Capital Adequacy | $ 51,404 | $ 49,996 |
Common Tier 1 Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | 4.50% |
Common Tier One Capital required to be well capitalized | $ 74,251 | $ 72,216 |
Common Tier One Risk Weighted Assets Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Leverage Ratios [Abstract] | ||
Tier 1 (core) capital (to adjusted average total assets), Actual, Ratio | 10.27% | 11.33% |
Tier 1 (core) capital (to adjusted average total assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Tier 1 (core) capital (to adjusted average total assets), Minimum Capital Ratios Established under Capital Plans, Ratio | 5.00% | 5.00% |
Consolidated Entities [Member] | ||
Capital [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Amount | $ 193,845 | $ 198,738 |
Total capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 91,414 | 88,898 |
Tier One Risk Based Capital [Abstract] | ||
Tier 1 (core) capital (to risk-weighted assets), Actual, Amount | 185,718 | 189,044 |
Tier 1 (core) capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 68,560 | 66,674 |
Tier One Leverage Capital [Abstract] | ||
Tier 1 (core) capital (to adjusted average total assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 62,306 | $ 57,043 |
Risk Based Ratios [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Ratio | 16.96% | 17.89% |
Total capital (to risk-weighted assets), For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier 1 (core) capital (to risk-weighted assets), Actual, Ratio | 16.25% | 17.01% |
Tier 1 (core) capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.00% | 6.00% |
CET common tier 1 equity | $ 185,718 | $ 189,044 |
Common Tier 1 to Risk Weighted Assets | 16.25% | 17.01% |
Common Tier 1 Risk Based Capital Required for Capital Adequacy | $ 51,420 | $ 50,005 |
Leverage Ratios [Abstract] | ||
Tier 1 (core) capital (to adjusted average total assets), Actual, Ratio | 11.92% | 13.26% |
Tier 1 (core) capital (to adjusted average total assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Regulatory Matters - Narrative
Regulatory Matters - Narrative (Details) $ in Millions | Dec. 31, 2016USD ($) |
Minimum [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Cash to be held | $ 5 |
Employee Benefit Plans - Employ
Employee Benefit Plans - Employee Stock Ownership Plan (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jun. 23, 2005 | |
Compensation Related Costs, Retirement and Share Based Payment [Line Items] | ||||
Age for eligibility for Employee Benefits | 21 years | |||
Employee benefit plans, requisite time for service | 1 year | |||
Loan receivable from ESOP | $ 19,600 | |||
ESOP issued price (usd per share) | $ 10 | |||
Commitment for contribution by Entity, maximum duration | 20 years | |||
ESOP cash contributions | $ 1,500 | $ 1,500 | ||
ESOP, dividends and interest received | 195 | 206 | ||
ESOP compensation expense | $ 1,300 | $ 1,000 | $ 1,100 | |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ||||
Allocated to participants (shares) | 1,125,448 | 1,027,583 | ||
Distributed to participants | (313,223) | (281,387) | ||
Unearned (shares) | 831,852 | 929,717 | ||
Total ESOP shares (shares) | 1,644,077 | 1,675,913 | ||
Fair value of unearned shares | $ 12,328 | $ 11,742 | ||
Common Stock [Member] | ||||
Compensation Related Costs, Retirement and Share Based Payment [Line Items] | ||||
ESOP shares purchased (shares) | 1,957,300 |
Employee Benefit Plans - Empl89
Employee Benefit Plans - Employee Stock Ownership Plan - Profit Sharing 401(k) Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |||
Employee matching ratio | 50.00% | 50.00% | |
Maximum annual contribution per employee | 6.00% | ||
Contribution plan expenses | $ 330 | $ 308 | $ 348 |
Equity Incentive Plans - Narrat
Equity Incentive Plans - Narrative (Details) - USD ($) | Jun. 27, 2006 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
restricted stock available for grant | 0 | |||
Stock Options Outstanding | 1,752,156 | 1,752,156 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | |||
Share-based compensation expense | $ 979,000 | $ 568,000 | $ 0 | |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 8,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 1,752,156 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.88 | |||
unrecognized compensation cost of options granted | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 9 years 1 month 23 days | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation expense | $ 3,000 | $ 70,000 | $ 70,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 8 months 27 days | 3 months 22 days | ||
Restricted Stock [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 3 years | |||
Restricted Stock [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 5 years | |||
2006 Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized (shares) | 3,425,275 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
2006 Plan [Member] | Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 2 years | |||
2006 Plan [Member] | Employee Stock Option [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 1 year |
Equity Incentive Plans - Schedu
Equity Incentive Plans - Schedule of Stock Options (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Stock Options Outstanding | 1,752,156 | 1,752,156 | 0 |
stock options granted | 1,752,156 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.60% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 17.28% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments | $ 0.01299 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 12.30 | $ 12.30 | $ 12.30 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 months 23 days | 1 year 5 months 23 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 778,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $ 4,422,000 | ||
stock options exercisable | 1,752,156 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 1,752,156 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 4,422,000 | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 1 year 3 months 7 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Stock options granted, Weighted Average Fair Value at Grant Date (usd per share) | $ 0 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 0 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 5 months 9 days |
Equity Incentive Plans - Sche92
Equity Incentive Plans - Schedule of Restricted Stock Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 9 years 1 month 23 days | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 5 months 9 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Shares outstanding, beginning balance (shares) | 7,934 | 16,822 | |
Shares granted (shares) | 0 | 0 | |
Shares vested (shares) | (6,994) | (8,888) | |
Shares forfeited (shares) | 0 | 0 | |
Shares outstanding, ending balance (shares) | 940 | 7,934 | 16,822 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Shares outstanding, beginning balance, Weighted Average Fair Value at Grant Date (usd per share) | $ 8.14 | $ 8.14 | |
Shares granted, Weighted Average Fair Value at Grant Date (usd per share) | 0 | 0 | |
Shares vested, Weighted Average Fair Value at Grant Date (usd per share) | 0 | 0 | |
Shares forfeited, Weighted Average Fair Value at Grant Date (usd per share) | 0 | 0 | |
Shares outstanding, ending balance, Weighted Average Fair Value at Grant Date (usd per share) | $ 8.14 | $ 8.14 | $ 8.14 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 8 months 27 days | 3 months 22 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 14 | $ 100 | $ 199 |
Loan Commitments and Other Of93
Loan Commitments and Other Off-Balance Sheet Activities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2007 | |
Guarantor Obligations [Line Items] | |||
Duration of extension | 60 days | ||
Commitments to extend credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Notional Or Contractual Credit Extension Commitments | $ 91,172 | $ 52,322 | |
Fixed-rate loan commitments | 71,000 | ||
Standby letters of credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Notional Or Contractual Credit Extension Commitments | 1,305 | 1,075 | |
Unused lines of credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Notional Or Contractual Credit Extension Commitments | 125,332 | 126,333 | |
Commitments to sell mortgages [Member] | |||
Guarantor Obligations [Line Items] | |||
Notional Or Contractual Credit Extension Commitments | $ 0 | $ 64 | |
Minimum [Member] | Commitments to extend credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Fixed interest rate | 0.50% | ||
Maturity period | 1 year | ||
Maximum [Member] | Commitments to extend credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Fixed interest rate | 6.00% | ||
Maturity period | 30 years | ||
Unrestricted [Member] | Common Class B [Member] | Visa USA [Member] | |||
Guarantor Obligations [Line Items] | |||
Shares owned (shares) | 51,404 | ||
Litigation Escrow Deposit May Be Converted Into Publicly Traded Class A Common Shares [Member] | Common Class B [Member] | Visa USA [Member] | |||
Guarantor Obligations [Line Items] | |||
Shares owned (shares) | 32,398 |
Fair Value - Financial Assets A
Fair Value - Financial Assets Accounted for at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 106,713 | |
Nonrecurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 107,212 | $ 114,753 |
Nonrecurring [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 85,938 | 87,901 |
Nonrecurring [Member] | Equity mutual fund [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 499 | 507 |
Nonrecurring [Member] | Mortgage-backed securities - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 15,184 | 19,180 |
Nonrecurring [Member] | Collateralized mortgage obligations - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 5,574 | 7,142 |
Nonrecurring [Member] | SBA-guaranteed loan participation certificates [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 17 | 23 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 499 | 507 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-backed securities - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Collateralized mortgage obligations - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | SBA-guaranteed loan participation certificates [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 106,713 | 114,246 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Equity mutual fund [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity mutual fund [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage-backed securities - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Collateralized mortgage obligations - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | SBA-guaranteed loan participation certificates [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 0 | $ 0 |
Fair Value - Assets Measured at
Fair Value - Assets Measured at Fair Value on a Non-Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | $ 234 | $ 513 |
Fair Value, Other real estate owned | 1,882 | 1,664 |
Mortgage servicing rights | 612 | 724 |
Nonrecurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 234 | 513 |
Fair Value, Other real estate owned | 1,882 | 1,664 |
Nonrecurring [Member] | One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 1,282 | 42 |
Nonrecurring [Member] | Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 477 | |
Fair Value, Other real estate owned | 354 | |
Nonrecurring [Member] | Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 234 | 36 |
Fair Value, Other real estate owned | 553 | 474 |
Nonrecurring [Member] | Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 47 | 794 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | |
Fair Value, Other real estate owned | 0 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | |
Fair Value, Other real estate owned | 0 | |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 234 | 513 |
Fair Value, Other real estate owned | 1,882 | 1,664 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 1,282 | 42 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 477 | |
Fair Value, Other real estate owned | 354 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 234 | 36 |
Fair Value, Other real estate owned | 553 | 474 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | $ 47 | $ 794 |
Fair Value - Level 3 Fair Value
Fair Value - Level 3 Fair Value Measurements for Financial Instruments on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 106,713 | |
Fair Value, Impaired loans | 234 | $ 513 |
Fair Value, Other real estate owned | 1,882 | 1,664 |
Fair value of mortgage servicing rights | $ 612 | $ 724 |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Sales comparison | |
Fair Value Measurements, Sensitivity Analysis, Description | Discount applied to valuation | |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 20.04% | 2.80% |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 8.62% | (0.35%) |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 11.90% | 0.03% |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 10.37% | |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | (67.74%) | |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 39.30% | |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | (13.00%) | |
Multi-family mortgage loans [Member] | Income approach [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Cap Rate | 8.75% | |
Nonresidential real estate loans [Member] | Sales comparison [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Sales comparison | |
Fair Value Measurements, Sensitivity Analysis, Description | Comparison between sales and income approaches | |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 4.58% | 1.46% |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | (3.22%) | (15.60%) |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | (10.20%) | 1.20% |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 3.70% | (5.00%) |
Nonresidential real estate loans [Member] | Income approach [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Income approach | |
Fair Value Measurements, Sensitivity Analysis, Description | Cap Rate | |
Nonresidential real estate loans [Member] | Income approach [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 8.50% | |
Land [Member] | Sales comparison [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Sales comparison | |
Fair Value Measurements, Sensitivity Analysis, Description | Discount applied to valuation | |
Land [Member] | Sales comparison [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 31.60% | 17.24% |
Land [Member] | Sales comparison [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 5.74% | (7.70%) |
Land [Member] | Sales comparison [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 25.20% | 6.00% |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 107,212 | $ 114,753 |
Fair Value, Impaired loans | 234 | 513 |
Fair Value, Other real estate owned | 1,882 | 1,664 |
Fair Value, Measurements, Nonrecurring [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 1,282 | 42 |
Fair Value, Measurements, Nonrecurring [Member] | Multi-family mortgage loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 477 | |
Fair Value, Other real estate owned | 354 | |
Fair Value, Measurements, Nonrecurring [Member] | Nonresidential real estate loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 234 | 36 |
Fair Value, Other real estate owned | 553 | 474 |
Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 47 | 794 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Fair Value, Impaired loans | 234 | 513 |
Fair Value, Other real estate owned | 1,882 | 1,664 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 1,282 | 42 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multi-family mortgage loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 477 | |
Fair Value, Other real estate owned | 354 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonresidential real estate loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 234 | 36 |
Fair Value, Other real estate owned | 553 | 474 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 47 | 794 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 499 | 507 |
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multi-family mortgage loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 0 | |
Fair Value, Other real estate owned | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonresidential real estate loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Collateralized Mortgage Obligations Residential [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 5,574 | 7,142 |
Collateralized Mortgage Obligations Residential [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Collateralized Mortgage Obligations Residential [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Equity Mutual Fund [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 499 | 507 |
Equity Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Mortgage Backed Securities Residential [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 15,184 | 19,180 |
Mortgage Backed Securities Residential [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Mortgage Backed Securities Residential [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 0 | $ 0 |
Fair Value - Carrying Amount an
Fair Value - Carrying Amount and Estimated Fair Value of Finanical Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Valuation Allowances and Reserves, Balance | $ (434) | $ (881) | ||
Fair value of mortgage servicing rights | 612 | 724 | ||
Financial assets | ||||
Cash and cash equivalents, carrying amount | 96,684 | 59,377 | $ 59,581 | $ 160,957 |
Cash and Due from Banks | 13,053 | 13,192 | ||
Interest-bearing Deposits in Banks and Other Financial Institutions | 83,631 | 46,185 | ||
Marketable Securities | 107,212 | 114,753 | ||
Securities, carrying amount | 106,713 | |||
Securities, fair value | 107,212 | 114,753 | ||
Loans receivable, net of allowance for loan losses, carrying amounts | 1,312,952 | 1,232,257 | ||
FHLBC stock, carrying amount | 11,650 | 6,257 | ||
Accrued interest receivable, carrying amount | 4,381 | 4,226 | ||
Financial liabilities | ||||
Noninterest-bearing demand deposits | 249,539 | 254,830 | ||
Savings deposits | 160,002 | 156,752 | ||
Time Deposits | 351,612 | 222,701 | ||
Borrowings | 51,069 | 64,318 | ||
Carrying Amount [Member] | ||||
Financial liabilities | ||||
NOW and money market accounts, carrying amount | 578,237 | 578,636 | ||
Accrued interest payable, carrying amount | 102 | 39 | ||
Estimated Fair Value [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, fair value | 96,684 | 59,377 | ||
Securities, fair value | 107,212 | 114,753 | ||
Loans receivable, net of allowance for loan losses, fair value | 1,322,947 | 1,241,304 | ||
Accounts interest receivable, fair value | 4,381 | 4,226 | ||
Financial liabilities | ||||
Non-interest-bearing demand deposits, fair value | 249,539 | 254,830 | ||
Savings deposits, fair value | 160,002 | 156,752 | ||
NOW money market accounts, fair value | 578,237 | 578,636 | ||
Certificates of deposit, fair value | 350,593 | 222,026 | ||
Borrowings, fair value | 50,015 | 64,318 | ||
Accrued interest payable, fair value | 102 | 39 | ||
Estimated Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Loans receivable, net of allowance for loan losses, fair value | 0 | 0 | ||
Accounts interest receivable, fair value | 0 | 0 | ||
Financial liabilities | ||||
Non-interest-bearing demand deposits, fair value | 0 | 0 | ||
Savings deposits, fair value | 0 | 0 | ||
NOW money market accounts, fair value | 0 | 0 | ||
Certificates of deposit, fair value | 0 | 0 | ||
Borrowings, fair value | 0 | 0 | ||
Accrued interest payable, fair value | 0 | 0 | ||
Estimated Fair Value [Member] | Level 2 [Member] | ||||
Financial assets | ||||
Securities, fair value | 106,713 | 114,246 | ||
Loans receivable, net of allowance for loan losses, fair value | 1,322,713 | 1,240,791 | ||
Accounts interest receivable, fair value | 4,381 | 4,226 | ||
Financial liabilities | ||||
Non-interest-bearing demand deposits, fair value | 249,539 | 254,830 | ||
Savings deposits, fair value | 160,002 | 156,752 | ||
NOW money market accounts, fair value | 578,237 | 578,636 | ||
Certificates of deposit, fair value | 350,593 | 222,026 | ||
Borrowings, fair value | 50,015 | 64,318 | ||
Accrued interest payable, fair value | 102 | 39 | ||
Estimated Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, fair value | 0 | 0 | ||
Securities, fair value | 0 | 0 | ||
Loans receivable, net of allowance for loan losses, fair value | 234 | 513 | ||
Accounts interest receivable, fair value | 0 | 0 | ||
Financial liabilities | ||||
Non-interest-bearing demand deposits, fair value | 0 | 0 | ||
Savings deposits, fair value | 0 | 0 | ||
NOW money market accounts, fair value | 0 | 0 | ||
Certificates of deposit, fair value | 0 | 0 | ||
Borrowings, fair value | 0 | 0 | ||
Accrued interest payable, fair value | 0 | 0 | ||
Equity Funds [Member] | ||||
Financial assets | ||||
Securities, fair value | 499 | 507 | ||
Fair Value, Measurements, Nonrecurring [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 107,212 | 114,753 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 499 | 507 | ||
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 106,713 | 114,246 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring [Member] | Collateralized Mortgage Obligations Residential [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 5,574 | 7,142 | ||
Fair Value, Measurements, Nonrecurring [Member] | Collateralized Mortgage Obligations Residential [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring [Member] | Collateralized Mortgage Obligations Residential [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Securities, carrying amount | $ 0 | $ 0 |
Fair Value - Narratives (Detail
Fair Value - Narratives (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Loans Carrying Amount | $ 260 | $ 557 | |
other real estate owned with an allowance at carrying value before valuation allowance | 2,300 | 2,500 | |
Impaired loans, valuation allowance | 26 | 44 | |
Provision for Loan and Lease Losses | 0 | 426 | |
Other real estate owned at carrying value | 3,895 | 7,011 | $ 6,358 |
Real Estate Acquired Through Foreclosure Fair Value | 1,882 | 1,664 | |
Real Estate Owned, Valuation Allowance, Valuation Increase | 314 | 548 | |
Other Real Estate, Valuation Adjustments | 314 | 548 | |
Fair value of mortgage servicing rights | 612 | 724 | |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Real Estate Acquired Through Foreclosure Fair Value | 1,882 | 1,664 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Real Estate Acquired Through Foreclosure Fair Value | $ 1,882 | $ 1,664 |
Company Only Condensed Financ99
Company Only Condensed Financial Information - Statements of Financial Condition (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 23, 2005 |
Assets | |||||
Loan receivable from ESOP | $ 19,600 | ||||
Deferred Tax Assets, Net | $ 22,411 | $ 26,695 | |||
Other assets | 6,063 | 5,449 | |||
Total assets | 1,620,037 | 1,512,443 | |||
Liabilities and Stockholders' Equity | |||||
Total stockholders’ equity | 204,780 | 212,364 | $ 216,121 | $ 175,627 | |
Total liabilities and stockholders' equity | 1,620,037 | 1,512,443 | |||
Parent Company [Member] | |||||
Assets | |||||
Cash in subsidiary | 14,543 | 15,309 | $ 9,724 | $ 11,441 | |
Loan receivable from ESOP | 10,767 | 11,799 | |||
Investment in subsidiary | 176,756 | 183,039 | |||
Deferred Tax Assets, Net | 2,367 | 1,865 | |||
Other assets | 347 | 352 | |||
Total assets | 204,780 | 212,364 | |||
Liabilities and Stockholders' Equity | |||||
Total liabilities and stockholders' equity | $ 204,780 | $ 212,364 |
Company Only Condensed Finan100
Company Only Condensed Financial Information - Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Interest income | $ 11,595 | $ 11,831 | $ 11,629 | $ 11,903 | $ 11,673 | $ 11,448 | $ 11,502 | $ 11,525 | $ 46,958 | $ 46,148 | $ 46,303 |
Other expense | (10,194) | (9,912) | (10,506) | (10,930) | (11,169) | (10,232) | (10,031) | (10,513) | (41,542) | (41,945) | (44,451) |
Income (loss) before income taxes | 3,717 | 4,081 | 1,345 | 3,057 | 3,299 | 3,881 | 3,648 | 3,272 | 12,200 | 14,100 | 9,297 |
Income tax expense (benefit) | $ 1,458 | $ 1,573 | $ 514 | $ 1,153 | $ 1,183 | $ 1,532 | $ 1,424 | $ 1,286 | 4,698 | 5,425 | (31,317) |
Parent Company [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Interest income | 503 | 544 | 584 | ||||||||
Dividends from subsidiary | 16,888 | 19,710 | 0 | ||||||||
Other expense | (1,846) | (1,536) | (1,451) | ||||||||
Income (loss) before income taxes | 15,545 | 18,718 | (867) | ||||||||
Income tax expense (benefit) | (502) | (783) | (1,082) | ||||||||
Loss before equity in undistributed subsidiary income | 16,047 | 19,501 | 215 | ||||||||
Equity in undistributed subsidiary excess distributions | (8,545) | (10,826) | 40,399 | ||||||||
Net income (loss) | $ 7,502 | $ 8,675 | $ 40,614 |
Company Only Condensed Finan101
Company Only Condensed Financial Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Adjustments: | |||
Change in other assets | $ (1,418) | $ 659 | $ 2,874 |
Net Cash Provided by (Used in) Operating Activities | 18,941 | 14,882 | 17,845 |
Cash flows from investing activities | |||
Net cash from (used in) investing activities | (77,021) | (53,613) | (87,461) |
Cash flows from financing activities | |||
Repurchase and retirement of common stock | (13,215) | (9,970) | 0 |
Cash dividends paid on common stock | (4,133) | (4,145) | (1,688) |
Net cash used in financing activities | 95,387 | 38,527 | (31,760) |
Parent Company [Member] | |||
Cash flows from operating activities | |||
Net income (loss) | 7,502 | 8,675 | 40,614 |
Adjustments: | |||
Equity in undistributed subsidiary excess distributions | 8,545 | 10,826 | (40,399) |
Change in other assets | (497) | (793) | (1,172) |
Change in accrued expenses and other liabilities | 0 | 0 | (23) |
Net Cash Provided by (Used in) Operating Activities | 15,550 | 18,708 | (980) |
Cash flows from investing activities | |||
Principal payments received on ESOP loan | 1,032 | 992 | 951 |
Net cash from (used in) investing activities | 1,032 | 992 | 951 |
Cash flows from financing activities | |||
Repurchase and retirement of common stock | (13,215) | (9,970) | 0 |
Cash dividends paid on common stock | (4,133) | (4,145) | (1,688) |
Net cash used in financing activities | (17,348) | (14,115) | (1,688) |
Net change in cash in subsidiary | (766) | 5,585 | (1,717) |
Beginning cash in subsidiary | 15,309 | 9,724 | 11,441 |
Ending cash in subsidiary | $ 14,543 | $ 15,309 | $ 9,724 |
Selected Quarterly Financial102
Selected Quarterly Financial Data (unaudited) (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Interest income | $ 12,743 | $ 12,845 | $ 12,581 | $ 12,759 | $ 12,411 | $ 12,147 | $ 12,193 | $ 12,211 | $ 50,928 | $ 48,962 | $ 49,349 |
Interest expense | 1,148 | 1,014 | 952 | 856 | 738 | 699 | 691 | 686 | 3,970 | 2,814 | 3,046 |
Net interest income | 11,595 | 11,831 | 11,629 | 11,903 | 11,673 | 11,448 | 11,502 | 11,525 | 46,958 | 46,148 | 46,303 |
Provision for (recovery of) loan losses | (539) | (525) | 1,315 | (490) | (1,038) | (956) | (488) | (724) | (239) | (3,206) | (736) |
Net interest income | 12,134 | 12,356 | 10,314 | 12,393 | 12,711 | 12,404 | 11,990 | 12,249 | 47,197 | 49,354 | 47,039 |
Noninterest Income | 1,777 | 1,637 | 1,537 | 1,594 | 1,757 | 1,709 | 1,689 | 1,536 | 6,545 | 6,691 | 6,709 |
Noninterest expense | 10,194 | 9,912 | 10,506 | 10,930 | 11,169 | 10,232 | 10,031 | 10,513 | 41,542 | 41,945 | 44,451 |
Income (loss) before income taxes | 3,717 | 4,081 | 1,345 | 3,057 | 3,299 | 3,881 | 3,648 | 3,272 | 12,200 | 14,100 | 9,297 |
Income tax expense (benefit) | 1,458 | 1,573 | 514 | 1,153 | 1,183 | 1,532 | 1,424 | 1,286 | 4,698 | 5,425 | (31,317) |
Net income (loss) | $ 2,259 | $ 2,508 | $ 831 | $ 1,904 | $ 2,116 | $ 2,349 | $ 2,224 | $ 1,986 | $ 7,502 | $ 8,675 | $ 40,614 |
Earnings Per Share, Basic | $ 0.12 | $ 0.13 | $ 0.04 | $ 0.10 | $ 0.11 | $ 0.12 | $ 0.11 | $ 0.10 | $ 0.40 | $ 0.44 | $ 2.01 |
Diluted earnings (loss) per common share (usd per share) | $ 0.12 | $ 0.13 | $ 0.04 | $ 0.10 | $ 0.11 | $ 0.12 | $ 0.11 | $ 0.10 | $ 0.39 | $ 0.44 | $ 2.01 |
Selected Quarterly Financial103
Selected Quarterly Financial Data (unaudited) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Effect of Fourth Quarter Events [Line Items] | |||||||||||
Net income | $ 2,259 | $ 2,508 | $ 831 | $ 1,904 | $ 2,116 | $ 2,349 | $ 2,224 | $ 1,986 | $ 7,502 | $ 8,675 | $ 40,614 |
Diluted earnings (loss) per common share (usd per share) | $ 0.12 | $ 0.13 | $ 0.04 | $ 0.10 | $ 0.11 | $ 0.12 | $ 0.11 | $ 0.10 | $ 0.39 | $ 0.44 | $ 2.01 |
Earnings Per Share, Basic | $ 0.12 | $ 0.13 | $ 0.04 | $ 0.10 | $ 0.11 | $ 0.12 | $ 0.11 | $ 0.10 | $ 0.40 | $ 0.44 | $ 2.01 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 0 | $ 0 | $ (35,117) | ||||||||
Interest income | $ 11,595 | $ 11,831 | $ 11,629 | $ 11,903 | $ 11,673 | $ 11,448 | $ 11,502 | $ 11,525 | 46,958 | 46,148 | 46,303 |
Provision for (recovery of) loan losses | (539) | $ (525) | $ 1,315 | $ (490) | (1,038) | $ (956) | $ (488) | $ (724) | (239) | (3,206) | (736) |
Gain (Loss) on Disposition of Property Plant Equipment | 113 | 38 | (1) | 5 | |||||||
Asset management costs | $ 177 | $ 522 | $ 399 | $ 681 | $ 838 |