Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 04, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-34190 | |
Entity Registrant Name | HOME BANCORP, INC. | |
Entity Incorporation, State or Country Code | LA | |
Entity Tax Identification Number | 71-1051785 | |
Entity Address, Address Line One | 503 Kaliste Saloom Road | |
Entity Address, City or Town | Lafayette | |
Entity Address, State or Province | LA | |
Entity Address, Postal Zip Code | 70508 | |
City Area Code | 337 | |
Local Phone Number | 237-1960 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | HBCP | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 8,755,250 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2020 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0001436425 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and cash equivalents | $ 185,836 | $ 39,847 |
Interest-bearing deposits in banks | 349 | 449 |
Investment securities available for sale | 251,578 | 257,321 |
Investment securities held to maturity (fair values of $3,008 and $7,194, respectively) | 2,942 | 7,149 |
Mortgage loans held for sale | 21,045 | 6,990 |
Loans, net of unearned income | 1,955,297 | 1,714,361 |
Allowance for loan losses | (33,002) | (17,868) |
Total loans, net of unearned income and allowance for loan losses | 1,922,295 | 1,696,493 |
Office properties and equipment, net | 45,696 | 46,425 |
Cash surrender value of bank-owned life insurance | 40,184 | 39,466 |
Goodwill and core deposit intangibles | 63,439 | 64,472 |
Accrued interest receivable and other assets | 45,836 | 41,853 |
Total Assets | 2,579,200 | 2,200,465 |
Deposits: | ||
Noninterest-bearing | 629,345 | 437,828 |
Interest-bearing | 1,578,149 | 1,383,147 |
Total Deposits | 2,207,494 | 1,820,975 |
Other borrowings | 5,539 | 5,539 |
Long-term Federal Home Loan Bank advances | 31,445 | 40,620 |
Accrued interest payable and other liabilities | 21,398 | 17,002 |
Total Liabilities | 2,265,876 | 1,884,136 |
Shareholders’ Equity | ||
Preferred stock, $0.01 par value - 10,000,000 shares authorized; none issued | 0 | 0 |
Common stock, $0.01 par value - 40,000,000 shares authorized; 8,831,406 and 9,252,418 shares issued and outstanding, respectively | 88 | 93 |
Additional paid-in capital | 165,522 | 168,545 |
Unallocated common stock held by: | ||
Employee Stock Ownership Plan (ESOP) | (2,857) | (3,124) |
Recognition and Retention Plan (RRP) | (23) | (35) |
Retained earnings | 145,373 | 150,158 |
Accumulated other comprehensive income | 5,221 | 692 |
Total Shareholders’ Equity | 313,324 | 316,329 |
Total Liabilities and Shareholders’ Equity | $ 2,579,200 | $ 2,200,465 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Investment securities held to maturity, fair value | $ 3,008 | $ 7,194 |
Preferred stock par value (in usd per share) | $ 0.01 | $ 0.01 |
Preferred stock authorized (shares) | 10,000,000 | 10,000,000 |
Preferred stock issued (shares) | 0 | 0 |
Common stock par value (in usd per share) | $ 0.01 | $ 0.01 |
Common stock authorized (shares) | 40,000,000 | 40,000,000 |
Common stock issued (shares) | 8,831,406 | 9,252,418 |
Common stock outstanding (shares) | 8,831,406 | 9,252,418 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest Income | ||||
Loans, including fees | $ 24,769 | $ 23,562 | $ 72,839 | $ 70,572 |
Investment securities: | ||||
Taxable interest | 897 | 1,401 | 3,308 | 4,655 |
Tax-exempt interest | 70 | 114 | 253 | 397 |
Other investments and deposits | 106 | 397 | 361 | 1,140 |
Total interest income | 25,842 | 25,474 | 76,761 | 76,764 |
Interest Expense | ||||
Deposits | 2,368 | 4,050 | 9,047 | 11,116 |
Other borrowings | 53 | 53 | 159 | 159 |
Short-term Federal Home Loan Bank advances | 0 | 0 | 23 | 0 |
Long-term Federal Home Loan Bank advances | 149 | 230 | 520 | 751 |
Total interest expense | 2,570 | 4,333 | 9,749 | 12,026 |
Net interest income | 23,272 | 21,141 | 67,012 | 64,738 |
Provision for loan losses | 0 | 1,146 | 12,728 | 2,301 |
Net interest income after provision for loan losses | 23,272 | 19,995 | 54,284 | 62,437 |
Noninterest Income | ||||
Gain on sale of loans, net | 904 | 355 | 1,843 | 758 |
Income from bank-owned life insurance | 231 | 1,464 | 718 | 1,831 |
Loss on sale of assets, net | 0 | (8) | (11) | (336) |
Other income | 205 | 306 | 581 | 853 |
Total noninterest income | 3,794 | 4,774 | 10,255 | 10,916 |
Noninterest Expense | ||||
Compensation and benefits | 9,740 | 10,266 | 28,518 | 28,977 |
Occupancy | 1,686 | 1,791 | 5,075 | 5,405 |
Marketing and advertising | 288 | 418 | 746 | 997 |
Data processing and communication | 1,851 | 1,764 | 5,430 | 4,782 |
Professional services | 197 | 227 | 665 | 684 |
Forms, printing and supplies | 140 | 172 | 471 | 514 |
Franchise and shares tax | 378 | 399 | 1,156 | 1,196 |
Regulatory fees | 526 | 127 | 1,004 | 717 |
Foreclosed assets and ORE, net | 162 | 47 | 324 | 328 |
Amortization of acquisition intangible | 338 | 393 | 1,033 | 1,201 |
Provision for credit losses on unfunded commitments | 0 | 0 | 1,272 | 0 |
Other expenses | 810 | 1,006 | 2,563 | 3,052 |
Total noninterest expense | 16,116 | 16,610 | 48,257 | 47,853 |
Income before income tax expense | 10,950 | 8,159 | 16,282 | 25,500 |
Income tax expense | 2,168 | 1,303 | 3,102 | 4,174 |
Net Income | $ 8,782 | $ 6,856 | $ 13,180 | $ 21,326 |
Earnings per share: | ||||
Basic (in usd per share) | $ 1.01 | $ 0.76 | $ 1.51 | $ 2.34 |
Diluted (in usd per share) | 1.01 | 0.75 | 1.51 | 2.32 |
Cash dividends declared per common share (in usd per share) | $ 0.22 | $ 0.21 | $ 0.66 | $ 0.62 |
Unfunded lending commitments | ||||
Interest Expense | ||||
Provision for loan losses | $ 1,272 | |||
Originated loans | ||||
Earnings per share: | ||||
Collectively evaluated for impairment, Allowance for loan losses | $ 35,519 | 35,519 | ||
Originated loans | Unfunded lending commitments | ||||
Earnings per share: | ||||
Collectively evaluated for impairment, Allowance for loan losses | 3,637 | 3,637 | ||
Service fees and charges | ||||
Noninterest Income | ||||
Fees and charges | 1,123 | $ 1,516 | 3,529 | $ 4,396 |
Bank card fees | ||||
Noninterest Income | ||||
Fees and charges | $ 1,331 | $ 1,141 | $ 3,595 | $ 3,414 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $ 8,782 | $ 6,856 | $ 13,180 | $ 21,326 |
Other Comprehensive Income | ||||
Unrealized gains on available for sale investment securities | 39 | 14 | 5,815 | 4,287 |
Unrealized gains (losses) on cash flow hedges | 76 | 0 | (82) | 0 |
Tax effect | (24) | (3) | (1,204) | (900) |
Other comprehensive income, net of taxes | 91 | 11 | 4,529 | 3,387 |
Comprehensive Income | $ 8,873 | $ 6,867 | $ 17,709 | $ 24,713 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common stock | Additional Paid-in capital | Unallocated Common Stock Held by ESOP | Unallocated Common Stock Held by RRP | Retained Earnings | Accumulated Other Comprehensive Income | ASC Topic 326 Adoption Impact | ASC Topic 326 Adoption ImpactRetained Earnings |
Balance at Dec. 31, 2018 | $ 304,040 | $ 95 | $ 168,243 | $ (3,481) | $ (58) | $ 141,447 | $ (2,206) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net Income | 21,326 | 21,326 | |||||||
Other comprehensive income | 3,387 | 3,387 | |||||||
Purchase of Company's common stock at cost | (12,419) | (3) | (3,408) | (9,008) | |||||
Cash dividends declared | (5,858) | (5,858) | |||||||
Common Stock issued under incentive plans, net of shares surrendered in payment, including tax benefit | 167 | 233 | (66) | ||||||
Exercise of stock options | 2,229 | 1 | 2,228 | ||||||
RRP shares released for allocation | 0 | (11) | 11 | ||||||
ESOP shares released for allocation | 1,190 | 922 | 268 | ||||||
Share-based compensation cost | 615 | 615 | |||||||
Balance at Sep. 30, 2019 | 314,677 | 93 | 168,822 | (3,213) | (47) | 147,841 | 1,181 | ||
Balance at Dec. 31, 2018 | 304,040 | 95 | 168,243 | (3,481) | (58) | 141,447 | (2,206) | ||
Balance at Dec. 31, 2019 | $ 316,329 | 93 | 168,545 | (3,124) | (35) | 150,158 | 692 | $ (4,725) | $ (4,725) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | ||||||||
Balance at Jun. 30, 2019 | $ 313,494 | 94 | 169,233 | (3,303) | (48) | 146,348 | 1,170 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net Income | 6,856 | 6,856 | |||||||
Other comprehensive income | 11 | 11 | |||||||
Purchase of Company's common stock at cost | (4,624) | (1) | (1,238) | (3,385) | |||||
Cash dividends declared | (1,976) | (1,976) | |||||||
Common Stock issued under incentive plans, net of shares surrendered in payment, including tax benefit | 128 | 130 | (2) | ||||||
Exercise of stock options | 143 | 0 | 143 | ||||||
RRP shares released for allocation | 0 | (1) | 1 | ||||||
ESOP shares released for allocation | 408 | 318 | 90 | ||||||
Share-based compensation cost | 237 | 237 | |||||||
Balance at Sep. 30, 2019 | 314,677 | 93 | 168,822 | (3,213) | (47) | 147,841 | 1,181 | ||
Balance at Dec. 31, 2019 | 316,329 | 93 | 168,545 | (3,124) | (35) | 150,158 | 692 | $ (4,725) | $ (4,725) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net Income | 13,180 | 13,180 | |||||||
Other comprehensive income | 4,529 | 4,529 | |||||||
Purchase of Company's common stock at cost | (11,608) | (5) | (4,384) | (7,219) | |||||
Cash dividends declared | (5,978) | (5,978) | |||||||
Common Stock issued under incentive plans, net of shares surrendered in payment, including tax benefit | (9) | 34 | (43) | ||||||
Exercise of stock options | 30 | 0 | 30 | ||||||
RRP shares released for allocation | 0 | (12) | 12 | ||||||
ESOP shares released for allocation | 947 | 680 | 267 | ||||||
Share-based compensation cost | 629 | 629 | |||||||
Balance at Sep. 30, 2020 | $ 313,324 | 88 | 165,522 | (2,857) | (23) | 145,373 | 5,221 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | ||||||||
Balance at Jun. 30, 2020 | $ 309,326 | 90 | 166,494 | (2,946) | (24) | 140,582 | 5,130 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net Income | 8,782 | 8,782 | |||||||
Other comprehensive income | 91 | 91 | |||||||
Purchase of Company's common stock at cost | (3,373) | (2) | (1,351) | (2,020) | |||||
Cash dividends declared | (1,970) | (1,970) | |||||||
Common Stock issued under incentive plans, net of shares surrendered in payment, including tax benefit | (1) | 0 | (1) | ||||||
Exercise of stock options | 0 | 0 | 0 | ||||||
RRP shares released for allocation | 0 | (1) | 1 | ||||||
ESOP shares released for allocation | 290 | 201 | 89 | ||||||
Share-based compensation cost | 179 | 179 | |||||||
Balance at Sep. 30, 2020 | $ 313,324 | $ 88 | $ 165,522 | $ (2,857) | $ (23) | $ 145,373 | $ 5,221 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Cash dividends declared, per share (in usd per share) | $ 0.22 | $ 0.21 | $ 0.66 | $ 0.62 |
Common stock | ||||
Purchase of Company's common shares at cost, shares | 135,224 | 123,902 | 438,892 | 341,095 |
Common Stock issued under incentive plans, shares | 529 | 5,071 | 16,175 | 24,392 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from operating activities: | ||
Net Income | $ 13,180 | $ 21,326 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 12,728 | 2,301 |
Depreciation | 2,288 | 2,107 |
Amortization and accretion of purchase accounting valuations and intangibles | 3,458 | 4,768 |
Net amortization of mortgage servicing asset | 56 | 83 |
Federal Home Loan Bank stock dividends | (56) | (119) |
Net amortization of discount on investments | 2,168 | 1,605 |
Gain on loans sold, net | (1,843) | (758) |
Proceeds, including principal payments, from loans held for sale | 192,232 | 81,021 |
Originations of loans held for sale | (204,444) | (85,086) |
Non-cash compensation | 1,576 | 1,805 |
Deferred income tax (benefit) expense | (2,424) | 176 |
Increase in accrued interest receivable and other assets | (2,072) | (3,961) |
Increase in cash surrender value of bank-owned life insurance | (718) | (636) |
Increase in accrued interest payable and other liabilities | 1,980 | 6,404 |
Net cash provided by operating activities | 18,109 | 31,036 |
Cash flows from investing activities: | ||
Purchases of securities available for sale | (57,187) | (46,914) |
Proceeds from maturities, prepayments and calls on securities available for sale | 66,653 | 54,775 |
Proceeds from maturities, prepayments and calls on securities held to maturity | 4,130 | 3,517 |
Increase in loans, net | (245,440) | (63,679) |
Reimbursement from FDIC for covered assets | 0 | 142 |
Decrease in interest-bearing deposits in banks | 100 | 490 |
Proceeds from sale of foreclosed assets | 3,039 | 1,720 |
Purchase of bank-owned life insurance | 0 | (10,000) |
Proceeds from bank-owned life insurance | 0 | 2,163 |
Purchases of office properties and equipment | (1,570) | (3,009) |
Proceeds from sale of office properties and equipment | 4 | 53 |
Purchase of Federal Home Loan Bank stock | (1,592) | 0 |
Net cash used in investing activities | (231,863) | (60,742) |
Cash flows from financing activities: | ||
Increase in deposits, net | 386,509 | 58,152 |
Borrowings on Federal Home Loan Bank advances | 119,700 | 6,010 |
Repayments of Federal Home Loan Bank advances | (128,901) | (16,904) |
Proceeds from exercise of stock options | 30 | 2,229 |
Issuance of stock under incentive plans | (9) | |
Issuance of stock under incentive plans | 167 | |
Dividends paid to shareholders | (5,978) | (5,858) |
Purchase of Company’s common stock | (11,608) | (12,419) |
Net cash provided by financing activities | 359,743 | 31,377 |
Net change in cash and cash equivalents | 145,989 | 1,671 |
Cash and cash equivalents, beginning | 39,847 | 59,618 |
Cash and cash equivalents, ending | $ 185,836 | $ 61,289 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated financial statements of the Company were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, comprehensive income, changes in shareholders’ equity and cash flows in conformity with accounting principles generally accepted in the United States of America. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. Certain reclassifications have been made to prior period balances to conform to the current period presentation. The results of operations for the three and nine months ended September 30, 2020 and 2019 are not necessarily indicative of the results which may be expected for the entire fiscal year. These statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2019. Critical Accounting Policies and Estimates Critical accounting policies are defined as those that are reflective of significant judgments and uncertainties and could reflect materially different results under different assumptions and conditions. Methodologies the Company uses when applying critical accounting policies and developing critical accounting estimates are included in its Annual Report on Form 10-K for the year ended December 31, 2019. Accounting Policy for the Allowance for Credit Losses During the first quarter of 2020, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The new standard significantly changed the impairment model for most financial assets that are measured at amortized cost, including off-balance sheet credit exposures, from an incurred loss model to an expected loss model. Determining the appropriateness of the allowance requires judgment by management about the effect of matters that are inherently uncertain. Changes in factors and forecasts used in evaluating the overall loan portfolio may result in significant changes in the allowance for credit losses and related provision expense in future periods. The allowance level is influenced by loan volumes, loan asset quality ratings, delinquency status, historical credit loss experience, loan performance characteristics, forecasted information and other conditions influencing loss expectations. Changes to the assumptions in the model in future periods could have a material impact on the Company's Consolidated Financial Statements. See Note 2. Recent Accounting Pronouncements for a detailed discussion of the Company's methodologies for estimating expected credit losses. Accounting Policy for Derivative Instruments and Hedging Activities During the second quarter of 2020, the Company entered into a derivative financial instrument designated as a cash flow hedge to manage interest rate risk. Refer to Note 6. Derivatives and Hedging Activities for additional disclosures pertaining to the three and nine months ended September 30, 2020. FASB ASC 815, Derivatives and Hedging (“ASC 815”), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. As required by ASC 815, the Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Accounting Standards Adopted in 2020 On January 1, 2020, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced a new model known as CECL. ASC Topic 326 requires financial assets measured on an amortized cost basis, including loans and held to maturity debt securities, to be presented at an amount net of an allowance for credit losses, which reflects expected losses for the full life of the financial asset. Unfunded lending commitments are also within the scope of this amendment. Under former GAAP, credit losses were not recognized until the occurrence of the loss was probable and entities, in general, did not attempt to estimate credit losses for the full life of financial assets. ASC Topic 326 also amended the accounting model for purchased financial assets and replaced the guidance for PCI financial assets with the concept of PCD financial assets. For non-PCD assets, the CECL estimate is recognized through an ACL and provision for credit losses. For PCD assets, the CECL estimate is recognized through an ACL with an offset to the cost basis of the PCD asset at the date of acquisition. Subsequent changes in the ACL for PCD assets are recognized through a provision for loan losses. The financial assets formerly classified as PCI are now classified as PCD assets under ASC Topic 326. Under former GAAP, an allowance and related provision expense was only recorded for purchased financial assets if the amount of estimated probable losses exceeded the fair value discount for the financial assets. In addition, ASC Topic 326 requires expected credit related losses for available for sale debt securities to be recorded through an ACL, while non-credit related losses will continue to be recognized through OCI. The guidance under ASC Topic 326 had no impact on the Company's available for sale debt securities at January 1 or September 30, 2020. Management determined that the declines in the fair value of these securities at such dates were not attributable to credit losses. The Company’s held to maturity debt securities are also required to utilize the CECL approach to estimate expected credit losses. The guidance under ASC Topic 326 had no impact on the Company's held to maturity debt securities at January 1 or September 30, 2020. The Company applied the guidance under ASC Topic 326 For PCD loans, formerly classified as PCI, the Company applied the guidance under ASC Topic 326 using the prospective transition approach. As a result, the Company adjusted the amortized cost basis of the PCD loans to reclassify $1.0 million of purchase discount to the ALL on January 1, 2020. The results for reporting periods beginning on or after January 1, 2020 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The following table illustrates the impact of ASC Topic 326. (dollars in thousands) December 31, 2019 ASC Topic 326 Adoption Impact January 1, 2020 Allowance for credit losses One- to four-family first mortgage $ 2,715 $ 986 $ 3,701 Home equity loans and lines 1,084 (1) 1,083 Commercial real estate 6,541 1,974 8,515 Construction and land 2,670 519 3,189 Multi-family residential 572 (245) 327 Commercial and industrial 3,694 1,243 4,937 Consumer 592 157 749 Total allowance for loan losses 17,868 4,633 22,501 Unfunded lending commitments (1) — 2,365 2,365 Total allowance for credit losses $ 17,868 $ 6,998 $ 24,866 Retained Earnings Total allowance increase $ 6,998 Balance sheet reclassification (2) (996) Decrease to retained earnings, pre-tax 6,002 Tax effect (1,277) Decrease to retained earnings, net of tax effect $ 4,725 (1) The ACL for unfunded lending commitments is recorded within accrued interest payable and other liabilities on the Consolidated Statements of Financial Condition. (2) For PCD loans, formerly classified as PCI, the Company applied the guidance under CECL using the prospective transition approach. As a result, the Company adjusted the amortized cost basis of the PCD loans to reclassify the purchase discount to the ALL on January 1, 2020. Under ASC Topic 326, the ACL is measured on a pool basis when similar risk characteristics exist and is maintained at an amount which management believes is a current estimate of the expected credit losses for the full life of the relevant pool of loans and related unfunded lending commitments. The Company's CECL calculation estimates loan losses using the discounted cash flow method for all loan pools, except for the Company's credit card portfolio. Loan losses for the credit card portfolio are estimated using the remaining life method due to the limited complexity and size of this portfolio. The discounted cash flow analysis uses loan-level term information (e.g., maturity date, payment amount, interest rate, etc.) and pool-level assumptions (e.g., default rates, prepayment speeds, etc.) to produce expected future cash flows for the full life of every loan in the pool. The expected future cash flows are discounted and results are then aggregated to produce a net present value of the pool and ultimately the ACL requirement for the pool. The remaining life method applies a loss rate to a given pool of loans over the estimate remaining life of the given pool. The remaining life of the pool is based on historical data. The loss rates computed for each pool and expected pool-level funding rates are applied to the related unfunded lending commitments to calculate an ACL on unfunded amounts. For each pool of loans, management also evaluates and applies qualitative adjustments to the calculated ACL based on several factors, including, but not limited to, changes in current and expected future economic conditions, changes in industry experience and loan concentrations, changes in the volume and severity of nonperforming assets, changes in lending policies and personnel and changes in the competitive and regulatory environment of the banking industry. Loans that do not share similar risk characteristics are individually evaluated and are excluded from the pooled loan analysis. Individually analyzed loans generally include larger commercial real estate loans, multi-family residential loans, construction and land loans, commercial and industrial loans and other loans as deem appropriate by management for which it is probable that all the amounts due under the contractual terms of the loan will not be collected. The ACL for loans that are individually evaluated is based on a comparison of the recorded investment in the loan with either the expected cash flows discounted using the loan’s original effective interest rate, observable market price for the loan or the fair value of the collateral underlying certain collateral-dependent loans. The Company has identified the following portfolio segments based on the risk characteristics described in the table for its pooled loan analysis under ASC Topic 326: Loan Pool Risk Characteristics One- to four-family first mortgage This category consists of loans secured by first liens on residential real estate. The performance of these loans may be adversely affected by, among other factors, unemployment rates, local residential real estate market conditions and the interest rate environment. Generally, these loans are for longer terms than home equity loans and lines. Home equity loans and lines This category consists of loans secured by first and junior liens on residential real estate. The performance of these loans may be adversely affected by, among other factors, unemployment rates, local residential real estate market conditions and the interest rate environment. Commercial real estate This category consists of loans primarily secured by office and industrial buildings, warehouses, retail shopping facilities and various special purpose properties, including hotels and restaurants. The performance of CRE loans may be adversely affected by, among other factors, conditions specific to the relevant industry, the real estate market for the property type and geographic region where the property or borrower is located. Construction and land This category consists of loans to finance the ground-up construction and/or improvement of residential and commercial properties and loans secured by land. The performance of C&D loans is generally dependent upon the successful completion of improvements and/or land development for the end user, the sale of the property to a third party, or a secondary source of cash flow from the owners. The successful completion of planned improvements and development may be adversely affected by changes in the estimated property value upon completion of construction, projected costs and other conditions leading to project delays. Multi-family residential This category consists of loans secured by apartment or residential buildings with five or more units used to accommodate households on a temporary or permanent basis. The performance of multi-family loans is generally dependent on the receipt of rental income from the tenants who occupy the subject property. The occupancy rate of the subject property and the ability of the tenants to pay rent may be adversely affected by the location of the subject property and local economic conditions. Commercial and industrial This category consists of secured and unsecured loans to purchase capital equipment, agriculture operating loans and other business loans for working capital and operating purposes. Secured loans are primarily secured by accounts receivable, inventory and other business assets. The performance of C&I loans may be adversely affected by, among other factors, conditions specific to the relevant industry, fluctuations in the value of the collateral and individual performance factors related to the borrower. Consumer This category consists of loans to individuals for household, family and other personal use. The performance of these loans may be adversely affected by national and local economic conditions, unemployment rates and other factors affecting the borrower's income available to service the debt. Credit cards This category consists of unsecured revolving lines of credit for personal and commercial use. Credit card loans are generally smaller in size and are less complex relative to larger loan categories. Due to their unsecured nature, historical loss rates for credit card loans are generally higher than the loss rates on loans secured by real estate. In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” The ASU removed, modified and added certain disclosure requirements for fair value measurements. Under the ASU, public entities are no longer required to disclose the valuation processes for Level 3 fair value measurements, but will be required to disclose the range and weighted average used to develop significant unobservable inputs and the change in unrealized gains and losses included in other comprehensive income for Level 3 fair value measurements. The ASU also removed the requirement to disclose transfers between Level 1 and Level 2 fair value measurements and the policy for those transfers. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019 and did not impact our Consolidated Financial Statements, as the update only revises disclosure requirements. Issued but Not Yet Adopted Accounting Standards In December 2019, the FASB issued ASU No. 2019-12, "Simplifying the Accounting for Income Taxes (Topic 740)." The amendments in this ASU simplified the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improved the consistent application of and simplified GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The amendments in the ASU are effective for fiscal years and interim periods beginning after December 15, 2020. The Company does not expect the adoption of this ASU to impact the Consolidated Financial Statements. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The following table summarizes the Company’s available for sale and held to maturity investment securities at September 30, 2020 and December 31, 2019. (dollars in thousands) Amortized Gross Gross Unrealized Losses Fair Value September 30, 2020 Less Than Over 1 Available for sale: U.S. agency mortgage-backed $ 118,843 $ 4,352 $ 43 $ — $ 123,152 Collateralized mortgage obligations 97,371 1,853 62 5 99,157 Municipal bonds 20,315 549 47 — 20,817 U.S. government agency 6,358 67 — 12 6,413 Corporate bonds 2,000 39 — — 2,039 Total available for sale $ 244,887 $ 6,860 $ 152 $ 17 $ 251,578 Held to maturity: Municipal bonds $ 2,942 $ 66 $ — $ — $ 3,008 Total held to maturity $ 2,942 $ 66 $ — $ — $ 3,008 (dollars in thousands) Amortized Gross Gross Unrealized Losses Fair Value December 31, 2019 Less Than Over 1 Available for sale: U.S. agency mortgage-backed $ 94,446 $ 1,081 $ 292 $ 63 $ 95,172 Collateralized mortgage obligations 142,408 701 300 358 142,451 Municipal bonds 15,895 166 56 — 16,005 U.S. government agency 3,696 11 4 10 3,693 Total available for sale $ 256,445 $ 1,959 $ 652 $ 431 $ 257,321 Held to maturity: Municipal bonds $ 7,149 $ 45 $ — $ — $ 7,194 Total held to maturity $ 7,149 $ 45 $ — $ — $ 7,194 The estimated fair value and amortized cost by contractual maturity of the Company’s investment securities as of September 30, 2020 are shown in the following tables. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. The expected maturity of a security may differ from its contractual maturity because of prepayments or the exercise of call options. Accordingly, actual maturities may differ from contractual maturities. (dollars in thousands) One Year After One After Five After Ten Total Fair Value Available for sale: U.S. agency mortgage-backed $ 16 $ 16,352 $ 47,727 $ 59,057 $ 123,152 Collateralized mortgage obligations 1,455 15,591 30,339 51,772 99,157 Municipal bonds 1,325 2,297 8,659 8,536 20,817 U.S. government agency — — 5,991 422 6,413 Corporate bonds — — 2,039 — 2,039 Total securities available for sale $ 2,796 $ 34,240 $ 94,755 $ 119,787 $ 251,578 Held to maturity: Municipal bonds $ — $ 803 $ 2,205 $ — $ 3,008 Total securities held to maturity $ — $ 803 $ 2,205 $ — $ 3,008 (dollars in thousands) One Year After One After Five After Ten Total Amortized Cost Available for sale: U.S. agency mortgage-backed $ 16 $ 15,802 $ 45,105 $ 57,920 $ 118,843 Collateralized mortgage obligations 1,455 14,930 29,529 51,457 97,371 Municipal bonds 1,318 2,273 8,265 8,459 20,315 U.S. government agency — — 5,929 429 6,358 Corporate bonds — — 2,000 — 2,000 Total securities available for sale $ 2,789 $ 33,005 $ 90,828 $ 118,265 $ 244,887 Held to maturity: Municipal bonds $ — $ 800 $ 2,142 $ — $ 2,942 Total securities held to maturity $ — $ 800 $ 2,142 $ — $ 2,942 Management evaluates securities for impairment from credit losses at least quarterly, and more frequently when economic and market conditions warrant such evaluations. Consideration is given to numerous factors including, but not limited to, the extent to which the fair value is less than the amortized cost basis; adverse conditions causing changes in the financial condition of the issuer of the security or underlying loan guarantors; changes to the rating of the security by a rating agency; and the Company’s intent to sell a security or whether it is more likely than not the Company will be required to sell the security before the recovery of its amortized cost, which may extend to maturity. The Company performs a process to determine whether the decline in the fair value of securities has resulted from credit losses or other factors. This process involves evaluating each security for impairment by monitoring credit performance, collateral type, collateral geography, bond credit support, loan-to-value ratios, credit scores, loss severity levels, pricing levels, downgrades by rating agencies, cash flow projections and other factors as indicators of potential credit issues. If this evaluation indicates the existence of credit losses, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis. If the present value of expected cash flows is less than the amortized cost basis, an ACL is recorded, limited by the amount that the fair value of the security is less than its amortized cost. The Company's investment securities with unrealized losses, aggregated by type and length of time that individual securities have been in a continuous loss position, are summarized in the following tables. (dollars in thousands) Less Than 1 Year Over 1 Year Total September 30, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities available for sale: U.S. agency mortgage-backed $ 14,660 $ 43 $ — $ — $ 14,660 $ 43 Collateralized mortgage obligations 21,557 62 2,314 5 23,871 67 Municipal bonds 4,222 47 — — 4,222 47 U.S. government agency — — 1,276 12 1,276 12 Corporate bonds — — — — — — Total available for sale $ 40,439 $ 152 $ 3,590 $ 17 $ 44,029 $ 169 Held to maturity: Municipal bonds $ — $ — $ — $ — $ — $ — Total held to maturity $ — $ — $ — $ — $ — $ — (dollars in thousands) Less Than 1 Year Over 1 Year Total December 31, 2019 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities available for sale: U.S. agency mortgage-backed $ 28,847 $ 292 $ 5,148 $ 63 $ 33,995 $ 355 Collateralized mortgage obligations 50,004 300 37,131 358 87,135 658 Municipal bonds 3,044 56 — — 3,044 56 U.S. government agency 1,213 4 466 10 1,679 14 Total available for sale $ 83,108 $ 652 $ 42,745 $ 431 $ 125,853 $ 1,083 Held to maturity: Municipal bonds $ — $ — $ — $ — $ — $ — Total held to maturity $ — $ — $ — $ — $ — $ — At September 30, 2020, 36 of the Company’s debt securities had unrealized losses totaling 0.4% of the individual securities’ amortized cost basis and 0.1% of the Company’s total amortized cost basis of the investment securities portfolio. At such date, 3 of the 36 securities had been in a continuous loss position for over 12 months. Management has determined that the declines in the fair value of these securities were not attributable to credit losses. As a result, no ACL was recorded for available for sale investment securities at September 30, 2020. At September 30, 2020, it was determined that no ACL was required for the Company's held-to-maturity investment securities. The Company monitors credit quality of debt securities held-to-maturity through the use of credit ratings. The following table presents the amortized cost of the Company's held-to-maturity securities by credit quality rating at September 30, 2020. Credit Ratings (dollars in thousands) AAA/AA/A BBB/BB/B Total September 30, 2020 Held to maturity: Municipal bonds 2,942 — 2,942 Accrued interest receivable on the Company's investment securities was $695,000 and $894,000 at September 30, 2020 and December 31, 2019, respectively. These amounts are recorded in accrued interest receivable and other assets on the Consolidated Statements of Financial Condition. At September 30, 2020 and December 31, 2019, the Company had $131,668,000 and $157,091,000, respectively, of securities pledged to secure public deposits. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Earnings per common share were computed based on the following: Three Months Ended Nine Months Ended (in thousands, except per share data) 2020 2019 2020 2019 Numerator: Net income available to common shareholders $ 8,782 $ 6,856 $ 13,180 $ 21,326 Denominator: Weighted average common shares outstanding 8,627 9,059 8,737 9,114 Effect of dilutive securities: Restricted stock 7 9 9 12 Stock options 17 39 23 63 Weighted average common shares outstanding – assuming dilution 8,651 9,107 8,769 9,189 Basic earnings per common share $ 1.01 $ 0.76 $ 1.51 $ 2.34 Diluted earnings per common share $ 1.01 $ 0.75 $ 1.51 $ 2.32 Options on 160,282 and 100,288 shares of common stock were not included in the computation of diluted EPS for the three months ended September 30, 2020 and 2019, respectively, because the effect of these shares was anti-dilutive. Options on 129,559 and 90,511 shares of common stock were not included in the computation of diluted EPS for the nine months ended September 30, 2020 and 2019, respectively, because the effect of these shares was anti-dilutive. |
Credit Quality and Allowance fo
Credit Quality and Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2020 | |
Receivables [Abstract] | |
Credit Quality and Allowance for Credit Losses | Credit Quality and Allowance for Credit Losses The following briefly describes the distinction between originated and acquired loans and certain significant accounting policies relevant to each category. Originated Loans Loans originated for investment are reported at the principal balance outstanding net of unearned income. Interest on loans and accretion of unearned income are computed in a manner that approximates a level yield on recorded principal. Interest on loans is recorded as income is earned. The accrual of interest on an originated loan is discontinued when it is probable the borrower will not be able to meet payment obligations as they become due. For reporting periods prior to January 1, 2020, the Company maintained an ALL on originated loans that represented management’s estimate of probable losses incurred in this portfolio category. For reporting periods beginning on and after January 1, 2020, the Company maintains an ACL on all loans that reflects management's estimate of expected credit losses for the full life of the loan portfolio due to the adoption of the guidance under ASC Topic 326. Refer to Note 2 for more information on the adoption of ASC Topic 326. Acquired Loans Loans that were acquired as a result of business combinations are referred to as “acquired loans.” The Company's acquired loans were purchased prior to the adoption of ASC Topic 326 on January 1, 2020 and were recorded at estimated fair value at the acquisition date with no carryover of the related ALL. The acquired loans were segregated between those considered to be performing and those with evidence of credit deterioration (purchased credit impaired or "PCI"), and then further segregated into loan pools designed to facilitate the estimation of expected cash flows. The fair value estimate for each pool of acquired performing and PCI loans was based on the estimate of expected cash flows, both principal and interest, from that pool, discounted at prevailing market interest rates. The difference between the fair value of an acquired loan pool and the contractual amounts due at the acquisition date (the “fair value discount”) is accreted into income over the estimated life of the pool. For reporting periods beginning on and after January 1, 2020 and the adoption of ASC Topic 326: Management estimates the ACL for acquired loans under the same methodology as originated loans. Changes in the ACL for acquired loans are recognized through the provision for loan losses and the provision for credit losses on unfunded lending commitments. ASC Topic 326 replaced the guidance for PCI loans with the concept of purchased credit deteriorated ("PCD"). For reporting periods beginning on and after January 1, 2020, PCI loans have been re-classified as PCD loans. For PCD loans, the Company applied the guidance under ASC Topic 326 Note 2 for more information on the adoption of ASC Topic 326. PCD loans, under prior accounting policies, were excluded from nonperforming loans because they continued to earn interest income from the accretable yield at the pool level. With the adoption of ASC Topic 326, the pools were discontinued and performance is based on contractual terms for individual loans. For reporting periods prior to January 1, 2020 and the adoption of ASC Topic 326: Management estimated the ALL for acquired performing loans using a methodology similar to that used for originated loans. The allowance determined for each loan pool was compared to the remaining fair value discount for that pool. If the allowance amount calculated under the Company’s methodology was greater than the Company’s remaining discount, the additional amount called for was added to the reported allowance through a provision for loan losses. If the allowance amount calculated under the Company’s methodology was less than the Company’s recorded discount, no additional allowance or provision was recognized. Actual losses first reduced any remaining nonaccretable discount for the loan pool. Once the nonaccretable discount was fully depleted, losses were applied against the allowance established for that pool. Acquired performing loans were placed on nonaccrual status and were considered and reported as nonperforming or past due using the same criteria applied to the originated portfolio. The excess of cash flows expected to be collected from a PCI loan pool over the pool’s estimated fair value at acquisition was referred to as the accretable yield and was recognized in interest income using an effective yield method over the remaining life of the pool. Each pool of PCI loans was accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Management estimated cash flows expected to be collected on each PCI loan pool periodically. If the present value of expected cash flows for a pool was less than its carrying value, an impairment was recognized by an increase in the ALL and a charge to the provision for loan losses. If the present value of expected cash flows for a pool was greater than its carrying value, any previously established ALL was reversed and any remaining difference increased the accretable yield, which was taken into interest income over the remaining life of the loan pool. PCI loans were generally not subject to individual evaluation for impairment and were not reported with impaired loans, even if they otherwise qualified for such treatment . The Company’s loans, net of unearned income, consisted of the following as of the dates indicated. (dollars in thousands) September 30, December 31, Real estate loans: One- to four-family first mortgage $ 409,282 $ 430,820 Home equity loans and lines 67,766 79,812 Commercial real estate 707,638 722,807 Construction and land 201,575 195,748 Multi-family residential 86,619 54,869 Total real estate loans 1,472,880 1,484,056 Other loans: Commercial and industrial 443,480 184,701 Consumer 38,937 45,604 Total other loans 482,417 230,305 Total loans $ 1,955,297 $ 1,714,361 The net discount on the Company’s loans was $8,343,000 and $12,315,000 at September 30, 2020 and December 31, 2019, respectively. In addition, loan balances as of September 30, 2020 and December 31, 2019 are reported net of unearned income of $10,621,000 and $3,114,000, respectively. Unearned income at September 30, 2020 included $7,606,000 of deferred lender fees related to PPP loans. Accrued interest receivable on the Company's loans was $9,435,000 and $6,575,000 at September 30, 2020 and December 31, 2019, respectively, and is excluded from the estimate of the ACL. These amounts are recorded in accrued interest receivable and other assets on the Consolidated Statements of Financial Condition. Allowance for Credit Losses The ACL, which includes the ALL and the ACL on unfunded lending commitments, and recorded investment in loans as of the dates indicated are as follows. September 30, 2020 (dollars in thousands) Collectively Individually Total Allowance for credit losses: One- to four-family first mortgage $ 3,413 $ — $ 3,413 Home equity loans and lines 771 — 771 Commercial real estate 17,662 689 18,351 Construction and land 4,078 — 4,078 Multi-family residential 1,067 — 1,067 Commercial and industrial 4,006 431 4,437 Consumer 885 — 885 Total allowance for loan losses $ 31,882 $ 1,120 $ 33,002 Unfunded lending commitments (1) 3,637 — 3,637 Total allowance for credit losses $ 35,519 $ 1,120 $ 36,639 September 30, 2020 (dollars in thousands) Collectively Individually Evaluated (2) Total Loans: One- to four-family first mortgage $ 409,282 $ — $ 409,282 Home equity loans and lines 67,766 — 67,766 Commercial real estate 700,402 7,236 707,638 Construction and land 201,575 — 201,575 Multi-family residential 86,619 — 86,619 Commercial and industrial 442,868 612 443,480 Consumer 38,937 — 38,937 Total loans $ 1,947,449 $ 7,848 $ 1,955,297 December 31, 2019 (dollars in thousands) Collectively Individually Acquired with Deteriorated Credit Quality Total Allowance for loan losses: One- to four-family first mortgage $ 2,715 $ — $ — $ 2,715 Home equity loans and lines 736 348 — 1,084 Commercial real estate 6,243 298 — 6,541 Construction and land 2,670 — — 2,670 Multi-family residential 572 — — 572 Commercial and industrial 2,969 701 24 3,694 Consumer 592 — 592 Total allowance for loan losses $ 16,497 $ 1,347 $ 24 $ 17,868 December 31, 2019 (dollars in thousands) Collectively Individually Acquired with Deteriorated Credit Quality (3) Total Loans: One- to four-family first mortgage $ 429,745 $ 187 $ 888 $ 430,820 Home equity loans and lines 78,446 784 582 79,812 Commercial real estate 711,282 6,518 5,007 722,807 Construction and land 195,374 — 374 195,748 Multi-family residential 54,690 — 179 54,869 Commercial and industrial 183,141 1,223 337 184,701 Consumer 45,573 — 31 45,604 Total loans $ 1,698,251 $ 8,712 $ 7,398 $ 1,714,361 (1) At September 30, 2020, $3.6 million of the ACL related to unfunded lending commitments of $326.8 million. The ACL on unfunded lending commitments is recorded within accrued interest payable and other liabilities on the Consolidated Statements of Financial Condition. (2) At September 30, 2020, loans individually evaluated for impairment included $1.9 million of loans acquired with deteriorated credit quality. (3) At December 31, 2019, loans acquired with deteriorated credit quality were deemed to be PCI and were accounted for under ASC 310-30. A summary of activity in the ACL and ALL for the nine months ended September 30, 2020 and September 30, 2019 follows. Nine Months Ended September 30, 2020 (dollars in thousands) Beginning ASC Topic 326 Adoption Impact (1) Charge-offs Recoveries Provision Ending Allowance for credit losses: One- to four-family first mortgage $ 2,715 $ 986 $ (55) $ 12 $ (245) $ 3,413 Home equity loans and lines 1,084 (1) (575) 15 248 771 Commercial real estate 6,541 1,974 (5) 55 9,786 18,351 Construction and land 2,670 519 (688) — 1,577 4,078 Multi-family residential 572 (245) — — 740 1,067 Commercial and industrial 3,694 1,243 (977) 91 386 4,437 Consumer 592 157 (222) 122 236 885 Total allowance for loan losses $ 17,868 $ 4,633 $ (2,522) $ 295 $ 12,728 $ 33,002 Unfunded lending commitments — 2,365 — — 1,272 3,637 Total allowance for credit losses $ 17,868 $ 6,998 $ (2,522) $ 295 $ 14,000 $ 36,639 (1) On January 1, 2020 the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced a new model known as CECL. Refer to Note 2 for more information on the adoption of ASC Topic 326. Nine Months Ended September 30, 2019 (dollars in thousands) Beginning Charge-offs Recoveries Provision Ending Allowance for loan losses: One- to four-family first mortgage $ 2,136 $ (4) $ — $ 271 $ 2,403 Home equity loans and lines 1,079 (42) 10 41 1,088 Commercial real estate 6,125 (139) — 829 6,815 Construction and land 2,285 — — (113) 2,172 Multi-family residential 550 — — 22 572 Commercial and industrial 3,228 (744) 23 1,343 3,850 Consumer 945 (189) 34 (92) 698 Total allowance for loan losses $ 16,348 $ (1,118) $ 67 $ 2,301 $ 17,598 The following table presents the Company’s loan portfolio by credit quality classification and origination year as of September 30, 2020 Term Loans by Origination Year (dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total One- to four-family first mortgage: Pass $ 41,018 $ 70,884 $ 50,516 $ 51,480 $ 39,087 $ 128,564 $ 18,474 $ 1,149 $ 401,172 Special Mention — 123 170 796 23 1,057 — — 2,169 Substandard 134 — — 239 1,270 4,298 — — 5,941 Doubtful — — — — — — — — — Total one- to four-family first mortgages $ 41,152 $ 71,007 $ 50,686 $ 52,515 $ 40,380 $ 133,919 $ 18,474 $ 1,149 $ 409,282 Home equity loans and lines: Pass $ 707 $ 1,341 $ 2,155 $ 1,133 $ 2,098 $ 6,409 $ 53,065 $ 420 $ 67,328 Special Mention — 43 — 43 — 77 — 166 329 Substandard — — — 1 — 108 — — 109 Doubtful — — — — — — — — — Total home equity loans and lines $ 707 $ 1,384 $ 2,155 $ 1,177 $ 2,098 $ 6,594 $ 53,065 $ 586 $ 67,766 Commercial real estate: Pass $ 161,064 $ 167,785 $ 99,240 $ 106,999 $ 63,987 $ 71,310 $ 18,890 $ 55 $ 689,330 Special Mention 1,015 — — 54 54 — — — 1,123 Substandard 475 1,758 2,285 321 2,306 10,040 — — 17,185 Doubtful — — — — — — — — — Total commercial real estate loans $ 162,554 $ 169,543 $ 101,525 $ 107,374 $ 66,347 $ 81,350 $ 18,890 $ 55 $ 707,638 Construction and land: Pass $ 56,923 $ 99,081 $ 19,765 $ 5,858 $ 2,735 $ 2,109 $ 2,141 $ 449 $ 189,061 Special Mention 875 — — — — 624 — 10,415 11,914 Substandard — 53 — — 285 262 — — 600 Doubtful — — — — — — — — — Total construction and land loans $ 57,798 $ 99,134 $ 19,765 $ 5,858 $ 3,020 $ 2,995 $ 2,141 $ 10,864 $ 201,575 Term Loans by Origination Year (dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total Multi-family residential: Pass $ 34,726 $ 26,721 $ 10,466 $ 3,892 $ 2,944 $ 5,550 $ 2,121 $ — $ 86,420 Special Mention — — — — — — — — — Substandard — 92 — — — 107 — — 199 Doubtful — — — — — — — — — Total multi-family residential loans $ 34,726 $ 26,813 $ 10,466 $ 3,892 $ 2,944 $ 5,657 $ 2,121 $ — $ 86,619 Commercial and industrial: Pass $ 287,757 $ 35,391 $ 22,512 $ 7,150 $ 7,010 $ 3,030 $ 71,928 $ 506 $ 435,284 Special Mention 2,725 1,156 164 15 — — 1,000 553 5,613 Substandard 27 — 433 25 156 18 1,924 — 2,583 Doubtful — — — — — — — — — Total commercial and industrial loans $ 290,509 $ 36,547 $ 23,109 $ 7,190 $ 7,166 $ 3,048 $ 74,852 $ 1,059 $ 443,480 Consumer: Pass $ 4,533 $ 3,312 $ 1,399 $ 2,388 $ 1,383 $ 19,357 $ 6,090 $ 15 $ 38,477 Special Mention — — 4 — 21 159 — — 184 Substandard — 29 2 15 16 213 1 — 276 Doubtful — — — — — — — — — Total consumer loans $ 4,533 $ 3,341 $ 1,405 $ 2,403 $ 1,420 $ 19,729 $ 6,091 $ 15 $ 38,937 Total loans: Pass $ 586,728 $ 404,515 $ 206,053 $ 178,900 $ 119,244 $ 236,329 $ 172,709 $ 2,594 $ 1,907,072 Special Mention 4,615 1,322 338 908 98 1,917 1,000 11,134 21,332 Substandard 636 1,932 2,720 601 4,033 15,046 1,925 — 26,893 Doubtful — — — — — — — — — Total loans $ 591,979 $ 407,769 $ 209,111 $ 180,409 $ 123,375 $ 253,292 $ 175,634 $ 13,728 $ 1,955,297 The following tables present the Company’s loan portfolio by credit quality classification as of December 31, 2019. December 31, 2019 (dollars in thousands) Pass Special Substandard Doubtful Total Originated loans: One- to four-family first mortgage $ 248,483 $ 730 $ 2,133 $ — $ 251,346 Home equity loans and lines 56,029 53 882 — 56,964 Commercial real estate 517,615 207 11,317 — 529,139 Construction and land 164,310 8,107 1,270 — 173,687 Multi-family residential 48,661 — — — 48,661 Commercial and industrial 153,286 — 2,438 — 155,724 Consumer 35,545 46 89 — 35,680 Total originated loans $ 1,223,929 $ 9,143 $ 18,129 $ — $ 1,251,201 Acquired loans: One- to four-family first mortgage $ 173,482 $ 1,429 $ 4,563 $ — $ 179,474 Home equity loans and lines 22,370 128 350 — 22,848 Commercial real estate 181,090 1,593 10,985 — 193,668 Construction and land 19,877 747 1,437 — 22,061 Multi-family residential 5,487 502 219 — 6,208 Commercial and industrial 24,856 56 4,065 — 28,977 Consumer 9,668 166 90 — 9,924 Total acquired loans $ 436,830 $ 4,621 $ 21,709 $ — $ 463,160 Total loans: One- to four-family first mortgage $ 421,965 $ 2,159 $ 6,696 $ — $ 430,820 Home equity loans and lines 78,399 181 1,232 — 79,812 Commercial real estate 698,705 1,800 22,302 — 722,807 Construction and land 184,187 8,854 2,707 — 195,748 Multi-family residential 54,148 502 219 — 54,869 Commercial and industrial 178,142 56 6,503 — 184,701 Consumer 45,213 212 179 — 45,604 Total loans $ 1,660,759 $ 13,764 $ 39,838 $ — $ 1,714,361 The above classifications follow regulatory guidelines and can generally be described as follows: • Pass loans are of satisfactory quality. • Special mention loans have an existing weakness that could cause future impairment, including the deterioration of financial ratios, past due status, questionable management capabilities and possible reduction in the collateral values. • Substandard loans have an existing specific and well-defined weakness that may include poor liquidity and deterioration of financial performance. Such loans may be past due and related deposit accounts experiencing overdrafts. Immediate corrective action is necessary. • Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable. In addition, residential loans are classified using an inter-agency regulatory methodology that incorporates, among other factors, the extent of delinquencies and loan-to-value ratios. These classifications were the most current available as of the dates indicated and were generally updated within the quarter. Age analysis of past due loans as of the dates indicated are as follows. September 30, 2020 (dollars in thousands) 30-59 60-89 Greater Total Current Total Originated loans: Real estate loans: One- to four-family first mortgage $ 500 $ 36 $ 1,147 $ 1,683 $ 259,246 $ 260,929 Home equity loans and lines 106 — 45 151 51,491 51,642 Commercial real estate 75 — 7,000 7,075 533,126 540,201 Construction and land 525 — — 525 186,044 186,569 Multi-family residential 1,499 — — 1,499 79,692 81,191 Total real estate loans 2,705 36 8,192 10,933 1,109,599 1,120,532 Other loans: Commercial and industrial 638 — 607 1,245 422,464 423,709 Consumer 221 52 130 403 31,950 32,353 Total other loans 859 52 737 1,648 454,414 456,062 Total originated loans $ 3,564 $ 88 $ 8,929 $ 12,581 $ 1,564,013 $ 1,576,594 Acquired loans: Real estate loans: One- to four-family first mortgage $ 3,567 $ 437 $ 1,210 $ 5,214 $ 143,139 $ 148,353 Home equity loans and lines 44 — 20 64 16,060 16,124 Commercial real estate 1,860 — 4,198 6,058 161,379 167,437 Construction and land — — 434 434 14,572 15,006 Multi-family residential — — — — 5,428 5,428 Total real estate loans 5,471 437 5,862 11,770 340,578 352,348 Other loans: Commercial and industrial 4 — 945 949 18,822 19,771 Consumer 67 23 63 153 6,431 6,584 Total other loans 71 23 1,008 1,102 25,253 26,355 Total acquired loans $ 5,542 $ 460 $ 6,870 $ 12,872 $ 365,831 $ 378,703 Total loans: Real estate loans: One- to four-family first mortgage $ 4,067 $ 473 $ 2,357 $ 6,897 $ 402,385 $ 409,282 Home equity loans and lines 150 — 65 215 67,551 67,766 Commercial real estate 1,935 — 11,198 13,133 694,505 707,638 Construction and land 525 — 434 959 200,616 201,575 Multi-family residential 1,499 — — 1,499 85,120 86,619 Total real estate loans 8,176 473 14,054 22,703 1,450,177 1,472,880 Other loans: Commercial and industrial 642 — 1,552 2,194 441,286 443,480 Consumer 288 75 193 556 38,381 38,937 Total other loans 930 75 1,745 2,750 479,667 482,417 Total loans $ 9,106 $ 548 $ 15,799 $ 25,453 $ 1,929,844 $ 1,955,297 December 31, 2019 (dollars in thousands) 30-59 60-89 Greater Total Current Total Originated loans: Real estate loans: One- to four-family first mortgage $ 1,524 $ 173 $ 967 $ 2,664 $ 248,682 $ 251,346 Home equity loans and lines 174 — 98 272 56,692 56,964 Commercial real estate 1,124 1,448 8,056 10,628 518,511 529,139 Construction and land — — 1,171 1,171 172,516 173,687 Multi-family residential — — — — 48,661 48,661 Total real estate loans 2,822 1,621 10,292 14,735 1,045,062 1,059,797 Other loans: Commercial and industrial 213 100 869 1,182 154,542 155,724 Consumer 533 57 34 624 35,056 35,680 Total other loans 746 157 903 1,806 189,598 191,404 Total originated loans $ 3,568 $ 1,778 $ 11,195 $ 16,541 $ 1,234,660 $ 1,251,201 Acquired loans: Real estate loans: One- to four-family first mortgage $ 4,555 $ 1,116 $ 1,108 $ 6,779 $ 172,695 $ 179,474 Home equity loans and lines 267 93 330 690 22,158 22,848 Commercial real estate 337 466 1,945 2,748 190,920 193,668 Construction and land 413 — 1,170 1,583 20,478 22,061 Multi-family residential — — — — 6,208 6,208 Total real estate loans 5,572 1,675 4,553 11,800 412,459 424,259 Other loans: Commercial and industrial 3 57 792 852 28,125 28,977 Consumer 259 127 60 446 9,478 9,924 Total other loans 262 184 852 1,298 37,603 38,901 Total acquired loans $ 5,834 $ 1,859 $ 5,405 $ 13,098 $ 450,062 $ 463,160 Total loans: Real estate loans: One- to four-family first mortgage $ 6,079 $ 1,289 $ 2,075 $ 9,443 $ 421,377 $ 430,820 Home equity loans and lines 441 93 428 962 78,850 79,812 Commercial real estate 1,461 1,914 10,001 13,376 709,431 722,807 Construction and land 413 — 2,341 2,754 192,994 195,748 Multi-family residential — — — — 54,869 54,869 Total real estate loans 8,394 3,296 14,845 26,535 1,457,521 1,484,056 Other loans: Commercial and industrial 216 157 1,661 2,034 182,667 184,701 Consumer 792 184 94 1,070 44,534 45,604 Total other loans 1,008 341 1,755 3,104 227,201 230,305 Total loans $ 9,402 $ 3,637 $ 16,600 $ 29,639 $ 1,684,722 $ 1,714,361 At September 30, 2020, $10,000 of loans were greater than 90 days past due and accruing. At December 31, 2019, excluding PCI loans, the Company did not have any loans greater than 90 days past due and accruing. The following table summarizes information pertaining to nonaccrual loans as of dates indicated. September 30, 2020 December 31, (dollars in thousands) With Related Allowance Without Related Allowance Total (1) Total (2) Nonaccrual loans: One- to four-family first mortgage $ 4,609 $ — $ 4,609 $ 3,948 Home equity loans and lines 109 — 109 1,244 Commercial real estate 15,486 — 15,486 13,325 Construction and land 515 — 515 2,469 Multi-family residential 95 — 95 — Commercial and industrial 1,750 — 1,750 3,224 Consumer 279 — 279 176 Total $ 22,843 $ — $ 22,843 $ 24,386 (1) Due to the adoption of ASC Topic 326, PCD loans of $2.1 million are included in nonaccrual loans at September 30, 2020. Prior to January 1, 2020, these loans were classified as PCI and excluded from nonperforming loans because they continued to earn interest income from the accretable yield at the pool level. At adoption, the pools were discontinued and performance is based on contractual terms for individual loans. (2) PCI loans which were being accounted for under ASC 310-30 were excluded from nonaccrual loans because they continued to earn interest from accretable yield regardless of their status as past due or otherwise not in compliance with their contractual terms. PCI loans which were being accounted for under ASC 310-30 and which were 90 days or more past due totaled $2.2 million as of December 31, 2019. All payments received while on nonaccrual status are applied against the principal balance of nonaccrual loans. The Company does not recognize interest income while loans are on nonaccrual status. Collateral Dependent Loans The Company held loans that were individually evaluated for impairment at September 30, 2020 for which the repayment, on the basis of our assessment at the reporting date, is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. The ACL for these collateral-dependent loans is primarily based on the fair value of the underlying collateral at the reporting date. The following describes the types of collateral that secure collateral dependent loans: • One- to four-family first mortgages are primarily secured by first liens on residential real estate. • Home equity loans and lines are primarily secured by first and junior liens on residential real estate. • Commercial real estate loans are primarily secured by office and industrial buildings, warehouses, retail shopping facilities and various special purpose properties, including hotels and restaurants. • Construction and land loans are primarily secured by residential and commercial properties, which are under construction and/or redevelopment, and by raw land. • Commercial and industrial loans considered collateral dependent are primarily secured by accounts receivable, inventory and equipment. The table below summarizes collateral dependent loans and the related ACL at September 30, 2020 for which the borrower is experiencing financial difficulty. (dollars in thousands) Loans ACL One- to four-family first mortgage $ — $ — Home equity loans and lines — — Commercial real estate 7,236 689 Construction and land — — Multi-family residential — — Commercial and industrial 612 431 Consumer — — Total $ 7,848 $ 1,120 At September 30, 2020, collateral dependent commercial real estate loans included one loan acquired with deteriorated credit quality totaling $1.9 million. Foreclosed Assets and ORE Foreclosed assets and ORE include real property and other assets that have been acquired as a result of foreclosure, and real property no longer used in the Bank's business. Foreclosed assets and ORE totaled $1,985,000 and 4,156,000 at September 30, 2020 and December 31, 2019, respectively. These amounts are recorded in accrued interest receivable and other assets on the Consolidated Statements of Financial Condition. The carrying amount of foreclosed residential real estate properties held at September 30, 2020 and December 31, 2019 totaled $996,000 and $1,737,000, respectively. Foreclosed assets and ORE included certain bank buildings that meet the criteria to be classified as assets held for sale. The carrying value of these assets totaled $729,000 and $1,275,000 at September 30, 2020 and December 31, 2019, respectively. During the nine months ended September 30, 2020, the Company sold five of these properties, with a total carrying value of $410,000, for a gain of $64,000 recorded in foreclosed assets and ORE, net expense on the Consolidated Statements of Income. The expected timing of the sale of the remaining properties is uncertain due to the effects of the COVID-19 pandemic. Troubled Debt Restructurings During the course of its lending operations, the Company periodically grants concessions to its customers in an attempt to protect as much of its investment as possible and to minimize risk of loss. These concessions may include restructuring the terms of a customer loan to alleviate the burden of the customer’s near-term cash requirements. Loans are TDRs when the Company agrees to restructure a loan to a borrower who is experiencing financial difficulties in a manner that is deemed to be a “concession”. The Company defines a concession as a modification of existing terms granted to a borrower for economic or legal reasons related to the borrower’s financial difficulties that the Company would otherwise not consider. The concession either is granted through an agreement with the customer or is imposed by a court or by law. Concessions include modifying original loan terms to reduce or defer cash payments required as part of the loan agreement, including but not limited to: • a reduction of the stated interest rate for the remaining original life of the debt, • an extension of the maturity date or dates at an interest rate lower than the current market rate for new debt with similar risk characteristics, • a reduction of the face amount or maturity amount of the debt or • a reduction of accrued interest receivable on the debt. In its determination of whether the customer is experiencing financial difficulties, the Company considers numerous indicators, including, but not limited to: • whether the customer is currently in default on its existing loan, or is in an economic position where it is probable the customer will be in default on its loan in the foreseeable future without a modification, • whether the customer has declared or is in the process of declaring bankruptcy, • whether there is substantial doubt about the customer’s ability to continue as a going concern, • whether, based on its projections of the customer’s current capabilities, the Company believes the customer’s future cash flows will be insufficient to service the debt, including interest, in accordance with the contractual terms of the existing agreement for the foreseeable future and • whether, without modification, the customer cannot obtain sufficient funds from other sources at an effective interest rate equal to the current market rate for similar debt for a non-troubled debtor. If the Company concludes that both a concession has been granted and the concession was granted to a customer experiencing financial difficulties, the Company identifies the loan as a TDR. For purposes of the determination of an ACL, larger (i.e., TDRs with balances of $250,000 or greater) commercial TDRs are individually evaluated for impairment. The ACL for loans that are individually evaluated is based on a comparison of the recorded investment in the loan with either the expected cash flows discounted using the loan’s original effective interest rate, observable market price for the loan or the fair value of the collateral underlying certain collateral-dependent loans. Residential, consumer and smaller balance commercial TDRs are included in the Company's pooled-loan analysis to calculate the ACL and, generally, do not have a material impact on the overall ACL. As of September 30, 2020, the Company had modified loans with an aggregate outstanding loan balance of $70.2 million, or 4% of total outstanding loans, via payment relief in the nature of principal and/or interest deferrals for 90 days. These modifications were done in accordance with Section 4013 of the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and the Interagency Statement on Loan Modifications on Reporting for Financial Institutions Working With Customers Affected by the Coronavirus . Accordingly, these loans were not categorized as TDRs. The following table summarizes information pertaining to TDRs modified during the periods indicated. Nine Months Ended September 30, 2020 2019 (dollars in thousands) Number of Pre- Post- Number of Pre- Post- Troubled debt restructurings: One- to four-family first mortgage 7 $ 990 $ 385 6 $ 924 $ 911 Home equity loans and lines — — — — — — Commercial real estate 4 1,044 992 1 89 88 Construction and land — — — — — — Multi-family residential — — — — — — Commercial and industrial 3 41 38 — — — Other consumer 2 13 10 2 11 10 Total 16 $ 2,088 $ 1,425 9 $ 1,024 $ 1,009 Two residential mortgages totaling $543,000, one commercial real estate loan totaling $77,000 and one consumer loan totaling $4,000 were modified during the nine months ended September 30, 2020 and defaulted during the same period. The defaults did not have a significant impact on our allowance for credit losses at September 30, 2020. Two residential mortgages totaling $619,000 and one consumer loan totaling $6,000 were modified during nine months ended September 30, 2019 and defaulted within twelve months of modification. The defaults did not have a significant impact on our allowance for loan losses at September 30, 2019. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Derivatives and Hedging Activities Risk Management Objective of Using Derivatives The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, during the quarter ended June 30, 2020, the Company entered into certain derivative financial instruments in its efforts to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s variable rate liabilities. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. As part of its efforts to accomplish this objective, during the second quarter of 2020, the Company entered into certain interest rate swap agreements as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. During 2020, such derivatives were used to hedge the variable cash flows associated with existing variable rate liabilities. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in Accumulated Other Comprehensive Income and subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable rate liabilities. During the next twelve months, the Company estimates that an additional $63,000 will be reclassified as additional interest expense. Fair Values of Derivative Instruments The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statement of Financial Condition as of September 30, 2020. Derivative Liabilities (1) (dollars in thousands) Notional Amount Fair Value Derivatives designated as hedging instruments: Interest rate swaps - variable rate liabilities $ 40,000 $ 87 Netting adjustments — Less: Cash posted as collateral (2) (87) Net derivative amounts $ — (1) Derivative liabilities are reported at fair value in accrued interest payable and other liabilities in the Consolidated Statements of Financial Condition. (2) Cash posted as collateral is held by the Company's derivative counterparties. At September 30, 2020, the Company had excess collateral compared to total exposure due to initial margin requirements for day-to-day volatility. The excess collateral is not reflected above. Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income The tables below present the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income as of September 30, 2020. Three Months Ended September 30, 2020 Amount of Gain Recognized in OCI Location of Gain Reclassified from AOCI into Income Amount of Loss Reclassified from AOCI into Income (dollars in thousands) Total Included Component Total Included Component Derivatives in cash flows hedging relationships: Interest rate swaps - variable rate liabilities $ 60 $ 60 Interest expense $ (16) $ (16) Nine Months Ended September 30, 2020 Amount of Loss Recognized in OCI Location of Loss Reclassified from AOCI into Income Amount of Loss Reclassified from AOCI into Income (dollars in thousands) Total Included Component Total Included Component Derivatives in cash flows hedging relationships: Interest rate swaps - variable rate liabilities $ (110) $ (110) Interest expense $ (28) $ (28) Effect of Cash Flow Hedge Accounting on the Consolidated Statements of Income The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income as of September 30, 2020. (dollars in thousands) Location of Loss Reclassified from AOCI into Income Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Effects of cash flow hedging Interest rate swaps - variable rate liabilities Interest expense $ (16) $ (28) Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision where if the Company (either) defaults (or is capable of being declared in default) on any of its indebtedness, then the Company could also be declared in default on its derivative obligations. The Company has agreements with certain of its derivative counterparties that contain a provision where if the company fails to maintain its status as a well or adequately capitalized institution, then the Company could be required to post additional collateral. As of September 30, 2020, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $87,000. As of September 30, 2020, the Company had minimum collateral posting thresholds with certain of its derivative counterparties and posted collateral of $493,000 in excess of thresholds. If the Company had breached any of these provisions at September 30, 2020, it could have been required to settle its obligations under the agreements at their termination value of $87,000. |
Fair Value Measurements and Dis
Fair Value Measurements and Disclosures | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Disclosures | Fair Value Measurements and Disclosures The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The Company groups assets and liabilities measured or disclosed at fair value in three levels as required by ASC 820, Fair Value Measurements and Disclosures . Under this guidance, fair value should be based on the assumptions market participants would use when pricing the asset or liability and establishes a fair value hierarchy that prioritizes the inputs used to develop those assumptions and measure fair value. The hierarchy requires companies to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels used to measure fair value are as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. An asset’s or liability’s categorization within the fair value hierarchy is based upon the lowest level that is significant to the fair value measurement. Management reviews and updates the fair value hierarchy classifications of the Company’s assets and liabilities quarterly. Recurring Basis Investment Securities Available for Sale Fair values of investment securities available for sale are primarily measured using information from a third-party pricing service. This pricing service provides pricing information by utilizing pricing models supported with market data information. Standard inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities bids, offers and other reference data from market research publications. If quoted prices are available in an active market, investment securities are classified as Level 1 measurements. If quoted prices are not available in an active market, fair values are estimated primarily by the use of pricing models. Level 2 investment securities are primarily comprised of mortgage-backed securities issued by government agencies and U.S. government-sponsored enterprises. In certain cases, where there is limited or less transparent information provided by the Company’s third-party pricing service, fair value is estimated by the use of secondary pricing services or through the use of non-binding third-party broker quotes. Investment securities are classified within Level 3 when little or no market activity supports the fair value. Management primarily identifies investment securities which may have traded in illiquid or inactive markets, by identifying instances of a significant decrease in the volume and frequency of trades, relative to historical levels, as well as instances of a significant widening of the bid-ask spread in the brokered markets. Investment securities that are deemed to have been trading in illiquid or inactive markets may require the use of significant unobservable inputs. For example, management may use quoted prices for similar investment securities in the absence of a liquid and active market for the investment securities being valued. As of September 30, 2020, management did not make adjustments to prices provided by the third-party pricing service as a result of illiquid or inactive markets. Derivative Liabilities The fair value of these derivative financial instruments is obtained from a third-party pricing service that uses widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. The analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company has determined that its derivative valuations are classified in Level 2 of the fair vale hierarchy. The following tables present the balances of assets measured for fair value on a recurring basis as of September 30, 2020 and December 31, 2019. (dollars in thousands) September 30, 2020 Level 1 Level 2 Level 3 Assets Available for sale securities: U.S. agency mortgage-backed $ 123,152 $ — $ 123,152 $ — Collateralized mortgage obligations 99,157 — 99,157 — Municipal bonds 20,817 — 20,817 — U.S. government agency 6,413 — 6,413 — Corporate bonds 2,039 — 2,039 — Total $ 251,578 $ — $ 251,578 $ — Liabilities Derivative liabilities (1) $ 87 $ — $ 87 $ — (1) For more information, refer to Note 6. Derivatives and Hedging Activities . (dollars in thousands) December 31, 2019 Level 1 Level 2 Level 3 Assets Available for sale securities: U.S. agency mortgage-backed $ 95,172 $ — $ 95,172 $ — Collateralized mortgage obligations 142,451 — 142,451 — Municipal bonds 16,005 — 16,005 — U.S. government agency 3,693 — 3,693 — Total $ 257,321 $ — $ 257,321 $ — The Company did not record any liabilities at fair value as of December 31, 2019 for which the measurement of the fair value was made on a recurring basis. Nonrecurring Basis The Company records loans individually evaluated for impairment at fair value on a nonrecurring basis. A loan is considered impaired if it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Fair value is measured at the fair value of the collateral for collateral-dependent loans. For non-collateral-dependent loans, fair value is measured by present valuing expected future cash flows. Impaired loans are classified as Level 3 assets when measured using appraisals from third parties of the collateral less any prior liens and when there is no observable market price. Foreclosed assets and ORE are also recorded at fair value on a nonrecurring basis. Foreclosed assets are initially recorded at fair value less estimated costs to sell. ORE is recorded at the lower of its net book value or fair value at the date of transfer to ORE. The fair value of foreclosed assets and ORE is based on property appraisals and an analysis of similar properties available. As such, the Company classifies foreclosed and ORE assets as Level 3 assets. The Company has segregated all financial assets that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date as reflected in the table below. Fair Value Measurements Using (dollars in thousands) September 30, 2020 Level 1 Level 2 Level 3 Assets Individually evaluated for impairment $ 6,728 $ — $ — $ 6,728 Foreclosed assets and ORE 1,985 — — 1,985 Total $ 8,713 $ — $ — $ 8,713 Fair Value Measurements Using (dollars in thousands) December 31, 2019 Level 1 Level 2 Level 3 Assets Individually evaluated for impairment $ 7,365 $ — $ — $ 7,365 Foreclosed assets and ORE 4,156 — — 4,156 Total $ 11,521 $ — $ — $ 11,521 The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets. (dollars in thousands) Fair Valuation Technique Unobservable Range of Weighted As of September 30, 2020: Individually evaluated for impairment $ 6,728 Third party appraisals and discounted cash flows Collateral values, market discounts and estimated costs to sell 3% - 80% 14% Foreclosed assets and ORE $ 1,985 Third party appraisals, sales contracts, broker price opinions Collateral values, market discounts and estimated costs to sell 6% - 52% 12% (dollars in thousands) Fair Valuation Technique Unobservable Range of Weighted As of December 31, 2019: Individually evaluated for impairment $ 7,365 Third party appraisals and discounted cash flows Collateral values, market discounts and estimated costs to sell 0% - 84% 13% Foreclosed assets and ORE $ 4,156 Third party appraisals, sales contracts, broker price opinions Collateral values, market discounts and estimated costs to sell 6% - 61% 14% ASC 820, Fair Value Measurements and Disclosures , requires the disclosure of each class of financial instruments for which it is practicable to estimate. The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. ASC 820 excludes certain financial instruments and all non-financial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial statements. These estimates are subjective in nature, involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates included herein are based on existing on- and off-balance-sheet financial instruments without attempting to estimate the value of anticipated future business and the fair value of assets and liabilities that are not required to be recorded or disclosed at fair value like premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: • The carrying value of cash and cash equivalents and interest-bearing deposits in banks approximate their fair value. • The fair value for investment securities is determined from quoted market prices when available. If a quoted market price is not available, fair value is estimated using third party pricing services or quoted market prices of securities with similar characteristics. • The carrying value of mortgage loans held for sale approximates their fair value. • The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturity. • The cash surrender value of BOLI approximates its fair value. • The fair value of customer deposits, excluding certificates of deposit, is the amount payable on demand. The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates currently offered for deposits of similar remaining maturities. • The fair value of other borrowings and long-term FHLB advances is estimated by discounting the future cash flows using the rates currently offered for borrowings of similar maturities. • The fair value of derivative liabilities are obtained from a third-party pricing service that uses the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The following table presents estimated fair values of the Company’s financial instruments as of the dates indicated. Fair Value Measurements at September 30, 2020 (dollars in thousands) Carrying Total Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 185,836 $ 185,836 $ 185,836 $ — $ — Interest-bearing deposits in banks 349 349 349 — — Investment securities available for sale 251,578 251,578 — 251,578 — Investment securities held to maturity 2,942 3,008 — 3,008 — Mortgage loans held for sale 21,045 21,045 — 21,045 — Loans, net 1,922,295 1,945,125 — 1,938,397 6,728 Cash surrender value of BOLI 40,184 40,184 40,184 — — Financial Liabilities Deposits $ 2,207,494 $ 2,210,331 $ — $ 2,210,331 $ — Other borrowings 5,539 6,233 — 6,233 — Long-term FHLB advances 31,445 32,399 — 32,399 — Derivative liabilities (1) 87 87 — 87 — (1) Derivative liabilities are reported at fair value in accrued interest payable and other liabilities in the Consolidated Statements of Financial Condition. Fair Value Measurements at December 31, 2019 (dollars in thousands) Carrying Total Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 39,847 $ 39,847 $ 39,847 $ — $ — Interest-bearing deposits in banks 449 449 449 — — Investment securities available for sale 257,321 257,321 — 257,321 — Investment securities held to maturity 7,149 7,194 — 7,194 — Mortgage loans held for sale 6,990 6,990 — 6,990 — Loans, net 1,696,493 1,690,308 — 1,682,943 7,365 Cash surrender value of BOLI 39,466 39,466 39,466 — — Financial Liabilities Deposits $ 1,820,975 $ 1,821,868 $ — $ 1,821,868 $ — Other borrowings 5,539 5,895 — 5,895 — Long-term FHLB advances 40,620 40,580 — 40,580 — |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Accounting Policy for the Allowance for Credit Losses | Accounting Policy for the Allowance for Credit Losses During the first quarter of 2020, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The new standard significantly changed the impairment model for most financial assets that are measured at amortized cost, including off-balance sheet credit exposures, from an incurred loss model to an expected loss model. Determining the appropriateness of the allowance requires judgment by management about the effect of matters that are inherently uncertain. Changes in factors and forecasts used in evaluating the overall loan portfolio may result in significant changes in the allowance for credit losses and related provision expense in future periods. The allowance level is influenced by loan volumes, loan asset quality ratings, delinquency status, historical credit loss experience, loan performance characteristics, forecasted information and other conditions influencing loss expectations. Changes to the assumptions in the model in future periods could have a material impact on the Company's Consolidated Financial Statements. See Note 2. Recent Accounting Pronouncements for a detailed discussion of the Company's methodologies for estimating expected credit losses. |
Accounting Policy for Derivative Instruments and Hedging Activities | Accounting Policy for Derivative Instruments and Hedging Activities During the second quarter of 2020, the Company entered into a derivative financial instrument designated as a cash flow hedge to manage interest rate risk. Refer to Note 6. Derivatives and Hedging Activities for additional disclosures pertaining to the three and nine months ended September 30, 2020. FASB ASC 815, Derivatives and Hedging (“ASC 815”), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. As required by ASC 815, the Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. |
Recent Accounting Pronouncements | Accounting Standards Adopted in 2020 On January 1, 2020, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced a new model known as CECL. ASC Topic 326 requires financial assets measured on an amortized cost basis, including loans and held to maturity debt securities, to be presented at an amount net of an allowance for credit losses, which reflects expected losses for the full life of the financial asset. Unfunded lending commitments are also within the scope of this amendment. Under former GAAP, credit losses were not recognized until the occurrence of the loss was probable and entities, in general, did not attempt to estimate credit losses for the full life of financial assets. ASC Topic 326 also amended the accounting model for purchased financial assets and replaced the guidance for PCI financial assets with the concept of PCD financial assets. For non-PCD assets, the CECL estimate is recognized through an ACL and provision for credit losses. For PCD assets, the CECL estimate is recognized through an ACL with an offset to the cost basis of the PCD asset at the date of acquisition. Subsequent changes in the ACL for PCD assets are recognized through a provision for loan losses. The financial assets formerly classified as PCI are now classified as PCD assets under ASC Topic 326. Under former GAAP, an allowance and related provision expense was only recorded for purchased financial assets if the amount of estimated probable losses exceeded the fair value discount for the financial assets. In addition, ASC Topic 326 requires expected credit related losses for available for sale debt securities to be recorded through an ACL, while non-credit related losses will continue to be recognized through OCI. The guidance under ASC Topic 326 had no impact on the Company's available for sale debt securities at January 1 or September 30, 2020. Management determined that the declines in the fair value of these securities at such dates were not attributable to credit losses. The Company’s held to maturity debt securities are also required to utilize the CECL approach to estimate expected credit losses. The guidance under ASC Topic 326 had no impact on the Company's held to maturity debt securities at January 1 or September 30, 2020. The Company applied the guidance under ASC Topic 326 For PCD loans, formerly classified as PCI, the Company applied the guidance under ASC Topic 326 using the prospective transition approach. As a result, the Company adjusted the amortized cost basis of the PCD loans to reclassify $1.0 million of purchase discount to the ALL on January 1, 2020. The results for reporting periods beginning on or after January 1, 2020 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The following table illustrates the impact of ASC Topic 326. (dollars in thousands) December 31, 2019 ASC Topic 326 Adoption Impact January 1, 2020 Allowance for credit losses One- to four-family first mortgage $ 2,715 $ 986 $ 3,701 Home equity loans and lines 1,084 (1) 1,083 Commercial real estate 6,541 1,974 8,515 Construction and land 2,670 519 3,189 Multi-family residential 572 (245) 327 Commercial and industrial 3,694 1,243 4,937 Consumer 592 157 749 Total allowance for loan losses 17,868 4,633 22,501 Unfunded lending commitments (1) — 2,365 2,365 Total allowance for credit losses $ 17,868 $ 6,998 $ 24,866 Retained Earnings Total allowance increase $ 6,998 Balance sheet reclassification (2) (996) Decrease to retained earnings, pre-tax 6,002 Tax effect (1,277) Decrease to retained earnings, net of tax effect $ 4,725 (1) The ACL for unfunded lending commitments is recorded within accrued interest payable and other liabilities on the Consolidated Statements of Financial Condition. (2) For PCD loans, formerly classified as PCI, the Company applied the guidance under CECL using the prospective transition approach. As a result, the Company adjusted the amortized cost basis of the PCD loans to reclassify the purchase discount to the ALL on January 1, 2020. Under ASC Topic 326, the ACL is measured on a pool basis when similar risk characteristics exist and is maintained at an amount which management believes is a current estimate of the expected credit losses for the full life of the relevant pool of loans and related unfunded lending commitments. The Company's CECL calculation estimates loan losses using the discounted cash flow method for all loan pools, except for the Company's credit card portfolio. Loan losses for the credit card portfolio are estimated using the remaining life method due to the limited complexity and size of this portfolio. The discounted cash flow analysis uses loan-level term information (e.g., maturity date, payment amount, interest rate, etc.) and pool-level assumptions (e.g., default rates, prepayment speeds, etc.) to produce expected future cash flows for the full life of every loan in the pool. The expected future cash flows are discounted and results are then aggregated to produce a net present value of the pool and ultimately the ACL requirement for the pool. The remaining life method applies a loss rate to a given pool of loans over the estimate remaining life of the given pool. The remaining life of the pool is based on historical data. The loss rates computed for each pool and expected pool-level funding rates are applied to the related unfunded lending commitments to calculate an ACL on unfunded amounts. For each pool of loans, management also evaluates and applies qualitative adjustments to the calculated ACL based on several factors, including, but not limited to, changes in current and expected future economic conditions, changes in industry experience and loan concentrations, changes in the volume and severity of nonperforming assets, changes in lending policies and personnel and changes in the competitive and regulatory environment of the banking industry. Loans that do not share similar risk characteristics are individually evaluated and are excluded from the pooled loan analysis. Individually analyzed loans generally include larger commercial real estate loans, multi-family residential loans, construction and land loans, commercial and industrial loans and other loans as deem appropriate by management for which it is probable that all the amounts due under the contractual terms of the loan will not be collected. The ACL for loans that are individually evaluated is based on a comparison of the recorded investment in the loan with either the expected cash flows discounted using the loan’s original effective interest rate, observable market price for the loan or the fair value of the collateral underlying certain collateral-dependent loans. The Company has identified the following portfolio segments based on the risk characteristics described in the table for its pooled loan analysis under ASC Topic 326: Loan Pool Risk Characteristics One- to four-family first mortgage This category consists of loans secured by first liens on residential real estate. The performance of these loans may be adversely affected by, among other factors, unemployment rates, local residential real estate market conditions and the interest rate environment. Generally, these loans are for longer terms than home equity loans and lines. Home equity loans and lines This category consists of loans secured by first and junior liens on residential real estate. The performance of these loans may be adversely affected by, among other factors, unemployment rates, local residential real estate market conditions and the interest rate environment. Commercial real estate This category consists of loans primarily secured by office and industrial buildings, warehouses, retail shopping facilities and various special purpose properties, including hotels and restaurants. The performance of CRE loans may be adversely affected by, among other factors, conditions specific to the relevant industry, the real estate market for the property type and geographic region where the property or borrower is located. Construction and land This category consists of loans to finance the ground-up construction and/or improvement of residential and commercial properties and loans secured by land. The performance of C&D loans is generally dependent upon the successful completion of improvements and/or land development for the end user, the sale of the property to a third party, or a secondary source of cash flow from the owners. The successful completion of planned improvements and development may be adversely affected by changes in the estimated property value upon completion of construction, projected costs and other conditions leading to project delays. Multi-family residential This category consists of loans secured by apartment or residential buildings with five or more units used to accommodate households on a temporary or permanent basis. The performance of multi-family loans is generally dependent on the receipt of rental income from the tenants who occupy the subject property. The occupancy rate of the subject property and the ability of the tenants to pay rent may be adversely affected by the location of the subject property and local economic conditions. Commercial and industrial This category consists of secured and unsecured loans to purchase capital equipment, agriculture operating loans and other business loans for working capital and operating purposes. Secured loans are primarily secured by accounts receivable, inventory and other business assets. The performance of C&I loans may be adversely affected by, among other factors, conditions specific to the relevant industry, fluctuations in the value of the collateral and individual performance factors related to the borrower. Consumer This category consists of loans to individuals for household, family and other personal use. The performance of these loans may be adversely affected by national and local economic conditions, unemployment rates and other factors affecting the borrower's income available to service the debt. Credit cards This category consists of unsecured revolving lines of credit for personal and commercial use. Credit card loans are generally smaller in size and are less complex relative to larger loan categories. Due to their unsecured nature, historical loss rates for credit card loans are generally higher than the loss rates on loans secured by real estate. In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” The ASU removed, modified and added certain disclosure requirements for fair value measurements. Under the ASU, public entities are no longer required to disclose the valuation processes for Level 3 fair value measurements, but will be required to disclose the range and weighted average used to develop significant unobservable inputs and the change in unrealized gains and losses included in other comprehensive income for Level 3 fair value measurements. The ASU also removed the requirement to disclose transfers between Level 1 and Level 2 fair value measurements and the policy for those transfers. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019 and did not impact our Consolidated Financial Statements, as the update only revises disclosure requirements. Issued but Not Yet Adopted Accounting Standards In December 2019, the FASB issued ASU No. 2019-12, "Simplifying the Accounting for Income Taxes (Topic 740)." The amendments in this ASU simplified the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improved the consistent application of and simplified GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The amendments in the ASU are effective for fiscal years and interim periods beginning after December 15, 2020. The Company does not expect the adoption of this ASU to impact the Consolidated Financial Statements. |
Fair Value Measurements and Disclosures | The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The Company groups assets and liabilities measured or disclosed at fair value in three levels as required by ASC 820, Fair Value Measurements and Disclosures . Under this guidance, fair value should be based on the assumptions market participants would use when pricing the asset or liability and establishes a fair value hierarchy that prioritizes the inputs used to develop those assumptions and measure fair value. The hierarchy requires companies to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels used to measure fair value are as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. An asset’s or liability’s categorization within the fair value hierarchy is based upon the lowest level that is significant to the fair value measurement. Management reviews and updates the fair value hierarchy classifications of the Company’s assets and liabilities quarterly. |
Nonrecurring Basis | Nonrecurring Basis The Company records loans individually evaluated for impairment at fair value on a nonrecurring basis. A loan is considered impaired if it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Fair value is measured at the fair value of the collateral for collateral-dependent loans. For non-collateral-dependent loans, fair value is measured by present valuing expected future cash flows. Impaired loans are classified as Level 3 assets when measured using appraisals from third parties of the collateral less any prior liens and when there is no observable market price. Foreclosed assets and ORE are also recorded at fair value on a nonrecurring basis. Foreclosed assets are initially recorded at fair value less estimated costs to sell. ORE is recorded at the lower of its net book value or fair value at the date of transfer to ORE. The fair value of foreclosed assets and ORE is based on property appraisals and an analysis of similar properties available. As such, the Company classifies foreclosed and ORE assets as Level 3 assets. |
Recent Accounting Pronounceme_3
Recent Accounting Pronouncements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Impact of ASC Topic 326 | The results for reporting periods beginning on or after January 1, 2020 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The following table illustrates the impact of ASC Topic 326. (dollars in thousands) December 31, 2019 ASC Topic 326 Adoption Impact January 1, 2020 Allowance for credit losses One- to four-family first mortgage $ 2,715 $ 986 $ 3,701 Home equity loans and lines 1,084 (1) 1,083 Commercial real estate 6,541 1,974 8,515 Construction and land 2,670 519 3,189 Multi-family residential 572 (245) 327 Commercial and industrial 3,694 1,243 4,937 Consumer 592 157 749 Total allowance for loan losses 17,868 4,633 22,501 Unfunded lending commitments (1) — 2,365 2,365 Total allowance for credit losses $ 17,868 $ 6,998 $ 24,866 Retained Earnings Total allowance increase $ 6,998 Balance sheet reclassification (2) (996) Decrease to retained earnings, pre-tax 6,002 Tax effect (1,277) Decrease to retained earnings, net of tax effect $ 4,725 (1) The ACL for unfunded lending commitments is recorded within accrued interest payable and other liabilities on the Consolidated Statements of Financial Condition. (2) For PCD loans, formerly classified as PCI, the Company applied the guidance under CECL using the prospective transition approach. As a result, the Company adjusted the amortized cost basis of the PCD loans to reclassify the purchase discount to the ALL on January 1, 2020. |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary Information Regarding Company's Investment Securities Classified as Available for Sale and Held to Maturity | The following table summarizes the Company’s available for sale and held to maturity investment securities at September 30, 2020 and December 31, 2019. (dollars in thousands) Amortized Gross Gross Unrealized Losses Fair Value September 30, 2020 Less Than Over 1 Available for sale: U.S. agency mortgage-backed $ 118,843 $ 4,352 $ 43 $ — $ 123,152 Collateralized mortgage obligations 97,371 1,853 62 5 99,157 Municipal bonds 20,315 549 47 — 20,817 U.S. government agency 6,358 67 — 12 6,413 Corporate bonds 2,000 39 — — 2,039 Total available for sale $ 244,887 $ 6,860 $ 152 $ 17 $ 251,578 Held to maturity: Municipal bonds $ 2,942 $ 66 $ — $ — $ 3,008 Total held to maturity $ 2,942 $ 66 $ — $ — $ 3,008 (dollars in thousands) Amortized Gross Gross Unrealized Losses Fair Value December 31, 2019 Less Than Over 1 Available for sale: U.S. agency mortgage-backed $ 94,446 $ 1,081 $ 292 $ 63 $ 95,172 Collateralized mortgage obligations 142,408 701 300 358 142,451 Municipal bonds 15,895 166 56 — 16,005 U.S. government agency 3,696 11 4 10 3,693 Total available for sale $ 256,445 $ 1,959 $ 652 $ 431 $ 257,321 Held to maturity: Municipal bonds $ 7,149 $ 45 $ — $ — $ 7,194 Total held to maturity $ 7,149 $ 45 $ — $ — $ 7,194 |
Amortized Cost and Estimated Fair Value by Maturity of Company's Investment Securities | The estimated fair value and amortized cost by contractual maturity of the Company’s investment securities as of September 30, 2020 are shown in the following tables. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. The expected maturity of a security may differ from its contractual maturity because of prepayments or the exercise of call options. Accordingly, actual maturities may differ from contractual maturities. (dollars in thousands) One Year After One After Five After Ten Total Fair Value Available for sale: U.S. agency mortgage-backed $ 16 $ 16,352 $ 47,727 $ 59,057 $ 123,152 Collateralized mortgage obligations 1,455 15,591 30,339 51,772 99,157 Municipal bonds 1,325 2,297 8,659 8,536 20,817 U.S. government agency — — 5,991 422 6,413 Corporate bonds — — 2,039 — 2,039 Total securities available for sale $ 2,796 $ 34,240 $ 94,755 $ 119,787 $ 251,578 Held to maturity: Municipal bonds $ — $ 803 $ 2,205 $ — $ 3,008 Total securities held to maturity $ — $ 803 $ 2,205 $ — $ 3,008 (dollars in thousands) One Year After One After Five After Ten Total Amortized Cost Available for sale: U.S. agency mortgage-backed $ 16 $ 15,802 $ 45,105 $ 57,920 $ 118,843 Collateralized mortgage obligations 1,455 14,930 29,529 51,457 97,371 Municipal bonds 1,318 2,273 8,265 8,459 20,315 U.S. government agency — — 5,929 429 6,358 Corporate bonds — — 2,000 — 2,000 Total securities available for sale $ 2,789 $ 33,005 $ 90,828 $ 118,265 $ 244,887 Held to maturity: Municipal bonds $ — $ 800 $ 2,142 $ — $ 2,942 Total securities held to maturity $ — $ 800 $ 2,142 $ — $ 2,942 |
Company's Investment Securities With Unrealized Losses, Aggregated by Type and Length | The Company's investment securities with unrealized losses, aggregated by type and length of time that individual securities have been in a continuous loss position, are summarized in the following tables. (dollars in thousands) Less Than 1 Year Over 1 Year Total September 30, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities available for sale: U.S. agency mortgage-backed $ 14,660 $ 43 $ — $ — $ 14,660 $ 43 Collateralized mortgage obligations 21,557 62 2,314 5 23,871 67 Municipal bonds 4,222 47 — — 4,222 47 U.S. government agency — — 1,276 12 1,276 12 Corporate bonds — — — — — — Total available for sale $ 40,439 $ 152 $ 3,590 $ 17 $ 44,029 $ 169 Held to maturity: Municipal bonds $ — $ — $ — $ — $ — $ — Total held to maturity $ — $ — $ — $ — $ — $ — (dollars in thousands) Less Than 1 Year Over 1 Year Total December 31, 2019 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities available for sale: U.S. agency mortgage-backed $ 28,847 $ 292 $ 5,148 $ 63 $ 33,995 $ 355 Collateralized mortgage obligations 50,004 300 37,131 358 87,135 658 Municipal bonds 3,044 56 — — 3,044 56 U.S. government agency 1,213 4 466 10 1,679 14 Total available for sale $ 83,108 $ 652 $ 42,745 $ 431 $ 125,853 $ 1,083 Held to maturity: Municipal bonds $ — $ — $ — $ — $ — $ — Total held to maturity $ — $ — $ — $ — $ — $ — |
Summary of Amortized Cost of Held-to-maturity Securities by Credit Rating | The following table presents the amortized cost of the Company's held-to-maturity securities by credit quality rating at September 30, 2020. Credit Ratings (dollars in thousands) AAA/AA/A BBB/BB/B Total September 30, 2020 Held to maturity: Municipal bonds 2,942 — 2,942 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings per common share were computed based on the following: Three Months Ended Nine Months Ended (in thousands, except per share data) 2020 2019 2020 2019 Numerator: Net income available to common shareholders $ 8,782 $ 6,856 $ 13,180 $ 21,326 Denominator: Weighted average common shares outstanding 8,627 9,059 8,737 9,114 Effect of dilutive securities: Restricted stock 7 9 9 12 Stock options 17 39 23 63 Weighted average common shares outstanding – assuming dilution 8,651 9,107 8,769 9,189 Basic earnings per common share $ 1.01 $ 0.76 $ 1.51 $ 2.34 Diluted earnings per common share $ 1.01 $ 0.75 $ 1.51 $ 2.32 |
Credit Quality and Allowance _2
Credit Quality and Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Receivables [Abstract] | |
Summary of Loans, Net of Unearned Income | The Company’s loans, net of unearned income, consisted of the following as of the dates indicated. (dollars in thousands) September 30, December 31, Real estate loans: One- to four-family first mortgage $ 409,282 $ 430,820 Home equity loans and lines 67,766 79,812 Commercial real estate 707,638 722,807 Construction and land 201,575 195,748 Multi-family residential 86,619 54,869 Total real estate loans 1,472,880 1,484,056 Other loans: Commercial and industrial 443,480 184,701 Consumer 38,937 45,604 Total other loans 482,417 230,305 Total loans $ 1,955,297 $ 1,714,361 |
Allowance for Loan Losses and Recorded Investment in Loans | The ACL, which includes the ALL and the ACL on unfunded lending commitments, and recorded investment in loans as of the dates indicated are as follows. September 30, 2020 (dollars in thousands) Collectively Individually Total Allowance for credit losses: One- to four-family first mortgage $ 3,413 $ — $ 3,413 Home equity loans and lines 771 — 771 Commercial real estate 17,662 689 18,351 Construction and land 4,078 — 4,078 Multi-family residential 1,067 — 1,067 Commercial and industrial 4,006 431 4,437 Consumer 885 — 885 Total allowance for loan losses $ 31,882 $ 1,120 $ 33,002 Unfunded lending commitments (1) 3,637 — 3,637 Total allowance for credit losses $ 35,519 $ 1,120 $ 36,639 September 30, 2020 (dollars in thousands) Collectively Individually Evaluated (2) Total Loans: One- to four-family first mortgage $ 409,282 $ — $ 409,282 Home equity loans and lines 67,766 — 67,766 Commercial real estate 700,402 7,236 707,638 Construction and land 201,575 — 201,575 Multi-family residential 86,619 — 86,619 Commercial and industrial 442,868 612 443,480 Consumer 38,937 — 38,937 Total loans $ 1,947,449 $ 7,848 $ 1,955,297 December 31, 2019 (dollars in thousands) Collectively Individually Acquired with Deteriorated Credit Quality Total Allowance for loan losses: One- to four-family first mortgage $ 2,715 $ — $ — $ 2,715 Home equity loans and lines 736 348 — 1,084 Commercial real estate 6,243 298 — 6,541 Construction and land 2,670 — — 2,670 Multi-family residential 572 — — 572 Commercial and industrial 2,969 701 24 3,694 Consumer 592 — 592 Total allowance for loan losses $ 16,497 $ 1,347 $ 24 $ 17,868 December 31, 2019 (dollars in thousands) Collectively Individually Acquired with Deteriorated Credit Quality (3) Total Loans: One- to four-family first mortgage $ 429,745 $ 187 $ 888 $ 430,820 Home equity loans and lines 78,446 784 582 79,812 Commercial real estate 711,282 6,518 5,007 722,807 Construction and land 195,374 — 374 195,748 Multi-family residential 54,690 — 179 54,869 Commercial and industrial 183,141 1,223 337 184,701 Consumer 45,573 — 31 45,604 Total loans $ 1,698,251 $ 8,712 $ 7,398 $ 1,714,361 (1) At September 30, 2020, $3.6 million of the ACL related to unfunded lending commitments of $326.8 million. The ACL on unfunded lending commitments is recorded within accrued interest payable and other liabilities on the Consolidated Statements of Financial Condition. (2) At September 30, 2020, loans individually evaluated for impairment included $1.9 million of loans acquired with deteriorated credit quality. (3) At December 31, 2019, loans acquired with deteriorated credit quality were deemed to be PCI and were accounted for under ASC 310-30. |
Schedule of Activity in Allowance for Loan Losses | A summary of activity in the ACL and ALL for the nine months ended September 30, 2020 and September 30, 2019 follows. Nine Months Ended September 30, 2020 (dollars in thousands) Beginning ASC Topic 326 Adoption Impact (1) Charge-offs Recoveries Provision Ending Allowance for credit losses: One- to four-family first mortgage $ 2,715 $ 986 $ (55) $ 12 $ (245) $ 3,413 Home equity loans and lines 1,084 (1) (575) 15 248 771 Commercial real estate 6,541 1,974 (5) 55 9,786 18,351 Construction and land 2,670 519 (688) — 1,577 4,078 Multi-family residential 572 (245) — — 740 1,067 Commercial and industrial 3,694 1,243 (977) 91 386 4,437 Consumer 592 157 (222) 122 236 885 Total allowance for loan losses $ 17,868 $ 4,633 $ (2,522) $ 295 $ 12,728 $ 33,002 Unfunded lending commitments — 2,365 — — 1,272 3,637 Total allowance for credit losses $ 17,868 $ 6,998 $ (2,522) $ 295 $ 14,000 $ 36,639 (1) On January 1, 2020 the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced a new model known as CECL. Refer to Note 2 for more information on the adoption of ASC Topic 326. Nine Months Ended September 30, 2019 (dollars in thousands) Beginning Charge-offs Recoveries Provision Ending Allowance for loan losses: One- to four-family first mortgage $ 2,136 $ (4) $ — $ 271 $ 2,403 Home equity loans and lines 1,079 (42) 10 41 1,088 Commercial real estate 6,125 (139) — 829 6,815 Construction and land 2,285 — — (113) 2,172 Multi-family residential 550 — — 22 572 Commercial and industrial 3,228 (744) 23 1,343 3,850 Consumer 945 (189) 34 (92) 698 Total allowance for loan losses $ 16,348 $ (1,118) $ 67 $ 2,301 $ 17,598 |
Schedule of Loan Portfolio by Credit Quality Classification | The following table presents the Company’s loan portfolio by credit quality classification and origination year as of September 30, 2020 Term Loans by Origination Year (dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total One- to four-family first mortgage: Pass $ 41,018 $ 70,884 $ 50,516 $ 51,480 $ 39,087 $ 128,564 $ 18,474 $ 1,149 $ 401,172 Special Mention — 123 170 796 23 1,057 — — 2,169 Substandard 134 — — 239 1,270 4,298 — — 5,941 Doubtful — — — — — — — — — Total one- to four-family first mortgages $ 41,152 $ 71,007 $ 50,686 $ 52,515 $ 40,380 $ 133,919 $ 18,474 $ 1,149 $ 409,282 Home equity loans and lines: Pass $ 707 $ 1,341 $ 2,155 $ 1,133 $ 2,098 $ 6,409 $ 53,065 $ 420 $ 67,328 Special Mention — 43 — 43 — 77 — 166 329 Substandard — — — 1 — 108 — — 109 Doubtful — — — — — — — — — Total home equity loans and lines $ 707 $ 1,384 $ 2,155 $ 1,177 $ 2,098 $ 6,594 $ 53,065 $ 586 $ 67,766 Commercial real estate: Pass $ 161,064 $ 167,785 $ 99,240 $ 106,999 $ 63,987 $ 71,310 $ 18,890 $ 55 $ 689,330 Special Mention 1,015 — — 54 54 — — — 1,123 Substandard 475 1,758 2,285 321 2,306 10,040 — — 17,185 Doubtful — — — — — — — — — Total commercial real estate loans $ 162,554 $ 169,543 $ 101,525 $ 107,374 $ 66,347 $ 81,350 $ 18,890 $ 55 $ 707,638 Construction and land: Pass $ 56,923 $ 99,081 $ 19,765 $ 5,858 $ 2,735 $ 2,109 $ 2,141 $ 449 $ 189,061 Special Mention 875 — — — — 624 — 10,415 11,914 Substandard — 53 — — 285 262 — — 600 Doubtful — — — — — — — — — Total construction and land loans $ 57,798 $ 99,134 $ 19,765 $ 5,858 $ 3,020 $ 2,995 $ 2,141 $ 10,864 $ 201,575 Term Loans by Origination Year (dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total Multi-family residential: Pass $ 34,726 $ 26,721 $ 10,466 $ 3,892 $ 2,944 $ 5,550 $ 2,121 $ — $ 86,420 Special Mention — — — — — — — — — Substandard — 92 — — — 107 — — 199 Doubtful — — — — — — — — — Total multi-family residential loans $ 34,726 $ 26,813 $ 10,466 $ 3,892 $ 2,944 $ 5,657 $ 2,121 $ — $ 86,619 Commercial and industrial: Pass $ 287,757 $ 35,391 $ 22,512 $ 7,150 $ 7,010 $ 3,030 $ 71,928 $ 506 $ 435,284 Special Mention 2,725 1,156 164 15 — — 1,000 553 5,613 Substandard 27 — 433 25 156 18 1,924 — 2,583 Doubtful — — — — — — — — — Total commercial and industrial loans $ 290,509 $ 36,547 $ 23,109 $ 7,190 $ 7,166 $ 3,048 $ 74,852 $ 1,059 $ 443,480 Consumer: Pass $ 4,533 $ 3,312 $ 1,399 $ 2,388 $ 1,383 $ 19,357 $ 6,090 $ 15 $ 38,477 Special Mention — — 4 — 21 159 — — 184 Substandard — 29 2 15 16 213 1 — 276 Doubtful — — — — — — — — — Total consumer loans $ 4,533 $ 3,341 $ 1,405 $ 2,403 $ 1,420 $ 19,729 $ 6,091 $ 15 $ 38,937 Total loans: Pass $ 586,728 $ 404,515 $ 206,053 $ 178,900 $ 119,244 $ 236,329 $ 172,709 $ 2,594 $ 1,907,072 Special Mention 4,615 1,322 338 908 98 1,917 1,000 11,134 21,332 Substandard 636 1,932 2,720 601 4,033 15,046 1,925 — 26,893 Doubtful — — — — — — — — — Total loans $ 591,979 $ 407,769 $ 209,111 $ 180,409 $ 123,375 $ 253,292 $ 175,634 $ 13,728 $ 1,955,297 The following tables present the Company’s loan portfolio by credit quality classification as of December 31, 2019. December 31, 2019 (dollars in thousands) Pass Special Substandard Doubtful Total Originated loans: One- to four-family first mortgage $ 248,483 $ 730 $ 2,133 $ — $ 251,346 Home equity loans and lines 56,029 53 882 — 56,964 Commercial real estate 517,615 207 11,317 — 529,139 Construction and land 164,310 8,107 1,270 — 173,687 Multi-family residential 48,661 — — — 48,661 Commercial and industrial 153,286 — 2,438 — 155,724 Consumer 35,545 46 89 — 35,680 Total originated loans $ 1,223,929 $ 9,143 $ 18,129 $ — $ 1,251,201 Acquired loans: One- to four-family first mortgage $ 173,482 $ 1,429 $ 4,563 $ — $ 179,474 Home equity loans and lines 22,370 128 350 — 22,848 Commercial real estate 181,090 1,593 10,985 — 193,668 Construction and land 19,877 747 1,437 — 22,061 Multi-family residential 5,487 502 219 — 6,208 Commercial and industrial 24,856 56 4,065 — 28,977 Consumer 9,668 166 90 — 9,924 Total acquired loans $ 436,830 $ 4,621 $ 21,709 $ — $ 463,160 Total loans: One- to four-family first mortgage $ 421,965 $ 2,159 $ 6,696 $ — $ 430,820 Home equity loans and lines 78,399 181 1,232 — 79,812 Commercial real estate 698,705 1,800 22,302 — 722,807 Construction and land 184,187 8,854 2,707 — 195,748 Multi-family residential 54,148 502 219 — 54,869 Commercial and industrial 178,142 56 6,503 — 184,701 Consumer 45,213 212 179 — 45,604 Total loans $ 1,660,759 $ 13,764 $ 39,838 $ — $ 1,714,361 |
Schedule of Past Due Loans | Age analysis of past due loans as of the dates indicated are as follows. September 30, 2020 (dollars in thousands) 30-59 60-89 Greater Total Current Total Originated loans: Real estate loans: One- to four-family first mortgage $ 500 $ 36 $ 1,147 $ 1,683 $ 259,246 $ 260,929 Home equity loans and lines 106 — 45 151 51,491 51,642 Commercial real estate 75 — 7,000 7,075 533,126 540,201 Construction and land 525 — — 525 186,044 186,569 Multi-family residential 1,499 — — 1,499 79,692 81,191 Total real estate loans 2,705 36 8,192 10,933 1,109,599 1,120,532 Other loans: Commercial and industrial 638 — 607 1,245 422,464 423,709 Consumer 221 52 130 403 31,950 32,353 Total other loans 859 52 737 1,648 454,414 456,062 Total originated loans $ 3,564 $ 88 $ 8,929 $ 12,581 $ 1,564,013 $ 1,576,594 Acquired loans: Real estate loans: One- to four-family first mortgage $ 3,567 $ 437 $ 1,210 $ 5,214 $ 143,139 $ 148,353 Home equity loans and lines 44 — 20 64 16,060 16,124 Commercial real estate 1,860 — 4,198 6,058 161,379 167,437 Construction and land — — 434 434 14,572 15,006 Multi-family residential — — — — 5,428 5,428 Total real estate loans 5,471 437 5,862 11,770 340,578 352,348 Other loans: Commercial and industrial 4 — 945 949 18,822 19,771 Consumer 67 23 63 153 6,431 6,584 Total other loans 71 23 1,008 1,102 25,253 26,355 Total acquired loans $ 5,542 $ 460 $ 6,870 $ 12,872 $ 365,831 $ 378,703 Total loans: Real estate loans: One- to four-family first mortgage $ 4,067 $ 473 $ 2,357 $ 6,897 $ 402,385 $ 409,282 Home equity loans and lines 150 — 65 215 67,551 67,766 Commercial real estate 1,935 — 11,198 13,133 694,505 707,638 Construction and land 525 — 434 959 200,616 201,575 Multi-family residential 1,499 — — 1,499 85,120 86,619 Total real estate loans 8,176 473 14,054 22,703 1,450,177 1,472,880 Other loans: Commercial and industrial 642 — 1,552 2,194 441,286 443,480 Consumer 288 75 193 556 38,381 38,937 Total other loans 930 75 1,745 2,750 479,667 482,417 Total loans $ 9,106 $ 548 $ 15,799 $ 25,453 $ 1,929,844 $ 1,955,297 December 31, 2019 (dollars in thousands) 30-59 60-89 Greater Total Current Total Originated loans: Real estate loans: One- to four-family first mortgage $ 1,524 $ 173 $ 967 $ 2,664 $ 248,682 $ 251,346 Home equity loans and lines 174 — 98 272 56,692 56,964 Commercial real estate 1,124 1,448 8,056 10,628 518,511 529,139 Construction and land — — 1,171 1,171 172,516 173,687 Multi-family residential — — — — 48,661 48,661 Total real estate loans 2,822 1,621 10,292 14,735 1,045,062 1,059,797 Other loans: Commercial and industrial 213 100 869 1,182 154,542 155,724 Consumer 533 57 34 624 35,056 35,680 Total other loans 746 157 903 1,806 189,598 191,404 Total originated loans $ 3,568 $ 1,778 $ 11,195 $ 16,541 $ 1,234,660 $ 1,251,201 Acquired loans: Real estate loans: One- to four-family first mortgage $ 4,555 $ 1,116 $ 1,108 $ 6,779 $ 172,695 $ 179,474 Home equity loans and lines 267 93 330 690 22,158 22,848 Commercial real estate 337 466 1,945 2,748 190,920 193,668 Construction and land 413 — 1,170 1,583 20,478 22,061 Multi-family residential — — — — 6,208 6,208 Total real estate loans 5,572 1,675 4,553 11,800 412,459 424,259 Other loans: Commercial and industrial 3 57 792 852 28,125 28,977 Consumer 259 127 60 446 9,478 9,924 Total other loans 262 184 852 1,298 37,603 38,901 Total acquired loans $ 5,834 $ 1,859 $ 5,405 $ 13,098 $ 450,062 $ 463,160 Total loans: Real estate loans: One- to four-family first mortgage $ 6,079 $ 1,289 $ 2,075 $ 9,443 $ 421,377 $ 430,820 Home equity loans and lines 441 93 428 962 78,850 79,812 Commercial real estate 1,461 1,914 10,001 13,376 709,431 722,807 Construction and land 413 — 2,341 2,754 192,994 195,748 Multi-family residential — — — — 54,869 54,869 Total real estate loans 8,394 3,296 14,845 26,535 1,457,521 1,484,056 Other loans: Commercial and industrial 216 157 1,661 2,034 182,667 184,701 Consumer 792 184 94 1,070 44,534 45,604 Total other loans 1,008 341 1,755 3,104 227,201 230,305 Total loans $ 9,402 $ 3,637 $ 16,600 $ 29,639 $ 1,684,722 $ 1,714,361 |
Summary of Information Pertaining to Nonaccrual Noncovered Loans | The following table summarizes information pertaining to nonaccrual loans as of dates indicated. September 30, 2020 December 31, (dollars in thousands) With Related Allowance Without Related Allowance Total (1) Total (2) Nonaccrual loans: One- to four-family first mortgage $ 4,609 $ — $ 4,609 $ 3,948 Home equity loans and lines 109 — 109 1,244 Commercial real estate 15,486 — 15,486 13,325 Construction and land 515 — 515 2,469 Multi-family residential 95 — 95 — Commercial and industrial 1,750 — 1,750 3,224 Consumer 279 — 279 176 Total $ 22,843 $ — $ 22,843 $ 24,386 (1) Due to the adoption of ASC Topic 326, PCD loans of $2.1 million are included in nonaccrual loans at September 30, 2020. Prior to January 1, 2020, these loans were classified as PCI and excluded from nonperforming loans because they continued to earn interest income from the accretable yield at the pool level. At adoption, the pools were discontinued and performance is based on contractual terms for individual loans. (2) PCI loans which were being accounted for under ASC 310-30 were excluded from nonaccrual loans because they continued to earn interest from accretable yield regardless of their status as past due or otherwise not in compliance with their contractual terms. PCI loans which were being accounted for under ASC 310-30 and which were 90 days or more past due totaled $2.2 million as of December 31, 2019. |
Summary of Information Pertaining to Collateral Dependent Loans and Related ACL | The table below summarizes collateral dependent loans and the related ACL at September 30, 2020 for which the borrower is experiencing financial difficulty. (dollars in thousands) Loans ACL One- to four-family first mortgage $ — $ — Home equity loans and lines — — Commercial real estate 7,236 689 Construction and land — — Multi-family residential — — Commercial and industrial 612 431 Consumer — — Total $ 7,848 $ 1,120 |
Financing Receivable, Troubled Debt Restructuring | The following table summarizes information pertaining to TDRs modified during the periods indicated. Nine Months Ended September 30, 2020 2019 (dollars in thousands) Number of Pre- Post- Number of Pre- Post- Troubled debt restructurings: One- to four-family first mortgage 7 $ 990 $ 385 6 $ 924 $ 911 Home equity loans and lines — — — — — — Commercial real estate 4 1,044 992 1 89 88 Construction and land — — — — — — Multi-family residential — — — — — — Commercial and industrial 3 41 38 — — — Other consumer 2 13 10 2 11 10 Total 16 $ 2,088 $ 1,425 9 $ 1,024 $ 1,009 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts and Fair Value of Derivative Liabilities | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statement of Financial Condition as of September 30, 2020. Derivative Liabilities (1) (dollars in thousands) Notional Amount Fair Value Derivatives designated as hedging instruments: Interest rate swaps - variable rate liabilities $ 40,000 $ 87 Netting adjustments — Less: Cash posted as collateral (2) (87) Net derivative amounts $ — (1) Derivative liabilities are reported at fair value in accrued interest payable and other liabilities in the Consolidated Statements of Financial Condition. |
Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income | The tables below present the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income as of September 30, 2020. Three Months Ended September 30, 2020 Amount of Gain Recognized in OCI Location of Gain Reclassified from AOCI into Income Amount of Loss Reclassified from AOCI into Income (dollars in thousands) Total Included Component Total Included Component Derivatives in cash flows hedging relationships: Interest rate swaps - variable rate liabilities $ 60 $ 60 Interest expense $ (16) $ (16) Nine Months Ended September 30, 2020 Amount of Loss Recognized in OCI Location of Loss Reclassified from AOCI into Income Amount of Loss Reclassified from AOCI into Income (dollars in thousands) Total Included Component Total Included Component Derivatives in cash flows hedging relationships: Interest rate swaps - variable rate liabilities $ (110) $ (110) Interest expense $ (28) $ (28) |
Effect of Company's Derivative Instruments on the Consolidated Statements of Income | The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income as of September 30, 2020. (dollars in thousands) Location of Loss Reclassified from AOCI into Income Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Effects of cash flow hedging Interest rate swaps - variable rate liabilities Interest expense $ (16) $ (28) |
Fair Value Measurements and D_2
Fair Value Measurements and Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets Measured on Recurring Basis | The following tables present the balances of assets measured for fair value on a recurring basis as of September 30, 2020 and December 31, 2019. (dollars in thousands) September 30, 2020 Level 1 Level 2 Level 3 Assets Available for sale securities: U.S. agency mortgage-backed $ 123,152 $ — $ 123,152 $ — Collateralized mortgage obligations 99,157 — 99,157 — Municipal bonds 20,817 — 20,817 — U.S. government agency 6,413 — 6,413 — Corporate bonds 2,039 — 2,039 — Total $ 251,578 $ — $ 251,578 $ — Liabilities Derivative liabilities (1) $ 87 $ — $ 87 $ — (1) For more information, refer to Note 6. Derivatives and Hedging Activities . (dollars in thousands) December 31, 2019 Level 1 Level 2 Level 3 Assets Available for sale securities: U.S. agency mortgage-backed $ 95,172 $ — $ 95,172 $ — Collateralized mortgage obligations 142,451 — 142,451 — Municipal bonds 16,005 — 16,005 — U.S. government agency 3,693 — 3,693 — Total $ 257,321 $ — $ 257,321 $ — |
Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis | The Company has segregated all financial assets that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date as reflected in the table below. Fair Value Measurements Using (dollars in thousands) September 30, 2020 Level 1 Level 2 Level 3 Assets Individually evaluated for impairment $ 6,728 $ — $ — $ 6,728 Foreclosed assets and ORE 1,985 — — 1,985 Total $ 8,713 $ — $ — $ 8,713 Fair Value Measurements Using (dollars in thousands) December 31, 2019 Level 1 Level 2 Level 3 Assets Individually evaluated for impairment $ 7,365 $ — $ — $ 7,365 Foreclosed assets and ORE 4,156 — — 4,156 Total $ 11,521 $ — $ — $ 11,521 |
Schedule of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets | The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets. (dollars in thousands) Fair Valuation Technique Unobservable Range of Weighted As of September 30, 2020: Individually evaluated for impairment $ 6,728 Third party appraisals and discounted cash flows Collateral values, market discounts and estimated costs to sell 3% - 80% 14% Foreclosed assets and ORE $ 1,985 Third party appraisals, sales contracts, broker price opinions Collateral values, market discounts and estimated costs to sell 6% - 52% 12% (dollars in thousands) Fair Valuation Technique Unobservable Range of Weighted As of December 31, 2019: Individually evaluated for impairment $ 7,365 Third party appraisals and discounted cash flows Collateral values, market discounts and estimated costs to sell 0% - 84% 13% Foreclosed assets and ORE $ 4,156 Third party appraisals, sales contracts, broker price opinions Collateral values, market discounts and estimated costs to sell 6% - 61% 14% |
Summary of Fair Values of Company's Financial Instruments | The following table presents estimated fair values of the Company’s financial instruments as of the dates indicated. Fair Value Measurements at September 30, 2020 (dollars in thousands) Carrying Total Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 185,836 $ 185,836 $ 185,836 $ — $ — Interest-bearing deposits in banks 349 349 349 — — Investment securities available for sale 251,578 251,578 — 251,578 — Investment securities held to maturity 2,942 3,008 — 3,008 — Mortgage loans held for sale 21,045 21,045 — 21,045 — Loans, net 1,922,295 1,945,125 — 1,938,397 6,728 Cash surrender value of BOLI 40,184 40,184 40,184 — — Financial Liabilities Deposits $ 2,207,494 $ 2,210,331 $ — $ 2,210,331 $ — Other borrowings 5,539 6,233 — 6,233 — Long-term FHLB advances 31,445 32,399 — 32,399 — Derivative liabilities (1) 87 87 — 87 — (1) Derivative liabilities are reported at fair value in accrued interest payable and other liabilities in the Consolidated Statements of Financial Condition. Fair Value Measurements at December 31, 2019 (dollars in thousands) Carrying Total Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 39,847 $ 39,847 $ 39,847 $ — $ — Interest-bearing deposits in banks 449 449 449 — — Investment securities available for sale 257,321 257,321 — 257,321 — Investment securities held to maturity 7,149 7,194 — 7,194 — Mortgage loans held for sale 6,990 6,990 — 6,990 — Loans, net 1,696,493 1,690,308 — 1,682,943 7,365 Cash surrender value of BOLI 39,466 39,466 39,466 — — Financial Liabilities Deposits $ 1,820,975 $ 1,821,868 $ — $ 1,821,868 $ — Other borrowings 5,539 5,895 — 5,895 — Long-term FHLB advances 40,620 40,580 — 40,580 — |
Recent Accounting Pronounceme_4
Recent Accounting Pronouncements - Additional Information (Details) - USD ($) $ in Thousands | Jan. 01, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | us-gaap:AccountingStandardsUpdate201613Member | |||||
Retained earnings | $ 313,324 | $ 316,329 | $ 309,326 | $ 314,677 | $ 313,494 | $ 304,040 | |
Allowance for loan losses | $ 24,866 | 33,002 | 17,868 | ||||
ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | (4,725) | ||||||
Retained Earnings | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | 145,373 | 150,158 | $ 140,582 | $ 147,841 | $ 146,348 | $ 141,447 | |
Retained Earnings | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | (4,725) | ||||||
ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 6,998 | ||||||
Purchase discount reclassified to ALL | 1,000 | ||||||
ASC Topic 326 | Retained Earnings | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | (4,725) | ||||||
Non-PCD loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Decrease to retained earnings, net of tax effect | 3,600 | ||||||
Non-PCD loan losses | ASC Topic 326 | Retained Earnings | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | (4,700) | ||||||
PCD loans | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 24 | ||||||
Unfunded lending commitments | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 2,365 | $ 3,637 | 0 | ||||
Unfunded lending commitments | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | $ 2,365 | ||||||
Unfunded lending commitments | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 2,365 | ||||||
Unfunded lending commitments | Non-PCD loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | $ 2,400 |
Recent Accounting Pronounceme_5
Recent Accounting Pronouncements - Impact of ASC Topic 326 (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | $ 33,002 | $ 24,866 | $ 17,868 | ||||
Allowance for credit losses: | |||||||
Total allowance increase | 33,002 | 24,866 | 17,868 | ||||
Decrease to retained earnings, net of tax effect | (313,324) | $ (309,326) | (316,329) | $ (314,677) | $ (313,494) | $ (304,040) | |
ASC Topic 326 Adoption Impact | |||||||
Allowance for credit losses: | |||||||
Decrease to retained earnings, net of tax effect | 4,725 | ||||||
Retained Earnings | |||||||
Allowance for credit losses: | |||||||
Decrease to retained earnings, net of tax effect | (145,373) | $ (140,582) | (150,158) | (147,841) | $ (146,348) | (141,447) | |
Retained Earnings | ASC Topic 326 Adoption Impact | |||||||
Allowance for credit losses: | |||||||
Decrease to retained earnings, net of tax effect | 4,725 | ||||||
ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 6,998 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 6,998 | ||||||
ASC Topic 326 | ASC Topic 326 Adoption Impact | Reclassification | |||||||
Allowance for credit losses: | |||||||
Reclassifications | (996) | ||||||
ASC Topic 326 | Retained Earnings | |||||||
Allowance for credit losses: | |||||||
Reclassifications | 6,002 | ||||||
Tax effect | (1,277) | ||||||
Decrease to retained earnings, net of tax effect | 4,725 | ||||||
Allowance for loan losses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 33,002 | 22,501 | 17,868 | 17,598 | 16,348 | ||
Allowance for credit losses: | |||||||
Total allowance increase | 33,002 | 22,501 | 17,868 | 17,598 | 16,348 | ||
Allowance for loan losses | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 4,633 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 4,633 | ||||||
Allowance for loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 4,633 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 4,633 | ||||||
Unfunded lending commitments | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 3,637 | 2,365 | 0 | ||||
Allowance for credit losses: | |||||||
Total allowance increase | 3,637 | 2,365 | 0 | ||||
Unfunded lending commitments | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 2,365 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 2,365 | ||||||
Unfunded lending commitments | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 2,365 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 2,365 | ||||||
One- to four-family first mortgage | Allowance for loan losses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 3,413 | 3,701 | 2,715 | 2,403 | 2,136 | ||
Allowance for credit losses: | |||||||
Total allowance increase | 3,413 | 3,701 | 2,715 | 2,403 | 2,136 | ||
One- to four-family first mortgage | Allowance for loan losses | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 986 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 986 | ||||||
One- to four-family first mortgage | Allowance for loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 986 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 986 | ||||||
Home equity loans and lines | Allowance for loan losses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 771 | 1,083 | 1,084 | 1,088 | 1,079 | ||
Allowance for credit losses: | |||||||
Total allowance increase | 771 | 1,083 | 1,084 | 1,088 | 1,079 | ||
Home equity loans and lines | Allowance for loan losses | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | (1) | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | (1) | ||||||
Home equity loans and lines | Allowance for loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | (1) | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | (1) | ||||||
Commercial real estate | Allowance for loan losses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 18,351 | 8,515 | 6,541 | 6,815 | 6,125 | ||
Allowance for credit losses: | |||||||
Total allowance increase | 18,351 | 8,515 | 6,541 | 6,815 | 6,125 | ||
Commercial real estate | Allowance for loan losses | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 1,974 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 1,974 | ||||||
Commercial real estate | Allowance for loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 1,974 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 1,974 | ||||||
Construction and land | Allowance for loan losses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 4,078 | 3,189 | 2,670 | 2,172 | 2,285 | ||
Allowance for credit losses: | |||||||
Total allowance increase | 4,078 | 3,189 | 2,670 | 2,172 | 2,285 | ||
Construction and land | Allowance for loan losses | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 519 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 519 | ||||||
Construction and land | Allowance for loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 519 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 519 | ||||||
Multi-family residential | Allowance for loan losses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 1,067 | 327 | 572 | 572 | 550 | ||
Allowance for credit losses: | |||||||
Total allowance increase | 1,067 | 327 | 572 | 572 | 550 | ||
Multi-family residential | Allowance for loan losses | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | (245) | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | (245) | ||||||
Multi-family residential | Allowance for loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | (245) | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | (245) | ||||||
Commercial and industrial | Allowance for loan losses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 4,437 | 4,937 | 3,694 | 3,850 | 3,228 | ||
Allowance for credit losses: | |||||||
Total allowance increase | 4,437 | 4,937 | 3,694 | 3,850 | 3,228 | ||
Commercial and industrial | Allowance for loan losses | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 1,243 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 1,243 | ||||||
Commercial and industrial | Allowance for loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 1,243 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | 1,243 | ||||||
Consumer | Allowance for loan losses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 885 | 749 | 592 | 698 | 945 | ||
Allowance for credit losses: | |||||||
Total allowance increase | $ 885 | 749 | 592 | $ 698 | $ 945 | ||
Consumer | Allowance for loan losses | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 157 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | $ 157 | ||||||
Consumer | Allowance for loan losses | ASC Topic 326 | ASC Topic 326 Adoption Impact | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Allowance for loan losses | 157 | ||||||
Allowance for credit losses: | |||||||
Total allowance increase | $ 157 |
Investment Securities - Summary
Investment Securities - Summary Information Regarding Investment Securities Classified as Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Available for sale, Amortized Cost | $ 244,887 | $ 256,445 |
Available for sale, Gross Unrealized Gains | 6,860 | 1,959 |
Available-for-sale, Gross Unrealized Losses, Less than 1 year | 152 | 652 |
Gross unrealized losses, Over 1 Year | 17 | 431 |
Available for sale securities | 251,578 | 257,321 |
Held to maturity, Amortized Cost | 2,942 | 7,149 |
Held to maturity, Gross Unrealized Gains | 66 | 45 |
Held to maturity, Gross Unrealized Losses, Less Than 1 Year | 0 | 0 |
Held to maturity, Gross Unrealized Losses, Over 1 Year | 0 | 0 |
Investment securities held to maturity | 3,008 | 7,194 |
U.S. agency mortgage-backed | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available for sale, Amortized Cost | 118,843 | 94,446 |
Available for sale, Gross Unrealized Gains | 4,352 | 1,081 |
Available-for-sale, Gross Unrealized Losses, Less than 1 year | 43 | 292 |
Gross unrealized losses, Over 1 Year | 0 | 63 |
Available for sale securities | 123,152 | 95,172 |
Collateralized mortgage obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available for sale, Amortized Cost | 97,371 | 142,408 |
Available for sale, Gross Unrealized Gains | 1,853 | 701 |
Available-for-sale, Gross Unrealized Losses, Less than 1 year | 62 | 300 |
Gross unrealized losses, Over 1 Year | 5 | 358 |
Available for sale securities | 99,157 | 142,451 |
Municipal bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available for sale, Amortized Cost | 20,315 | 15,895 |
Available for sale, Gross Unrealized Gains | 549 | 166 |
Available-for-sale, Gross Unrealized Losses, Less than 1 year | 47 | 56 |
Gross unrealized losses, Over 1 Year | 0 | 0 |
Available for sale securities | 20,817 | 16,005 |
Held to maturity, Amortized Cost | 2,942 | 7,149 |
Held to maturity, Gross Unrealized Gains | 66 | 45 |
Held to maturity, Gross Unrealized Losses, Less Than 1 Year | 0 | 0 |
Held to maturity, Gross Unrealized Losses, Over 1 Year | 0 | 0 |
Investment securities held to maturity | 3,008 | 7,194 |
U.S. government agency | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available for sale, Amortized Cost | 6,358 | 3,696 |
Available for sale, Gross Unrealized Gains | 67 | 11 |
Available-for-sale, Gross Unrealized Losses, Less than 1 year | 0 | 4 |
Gross unrealized losses, Over 1 Year | 12 | 10 |
Available for sale securities | 6,413 | $ 3,693 |
Corporate bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available for sale, Amortized Cost | 2,000 | |
Available for sale, Gross Unrealized Gains | 39 | |
Available-for-sale, Gross Unrealized Losses, Less than 1 year | 0 | |
Gross unrealized losses, Over 1 Year | 0 | |
Available for sale securities | $ 2,039 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value by Maturity of Company's Investment Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | $ 2,796 | |
Securities available for sale, One Year to Five Years, Fair Value | 34,240 | |
Securities available for sale, Five to Ten Years, Fair Value | 94,755 | |
Securities available for sale, Over Ten Years, Fair Value | 119,787 | |
Total available for sale, Fair Value | 251,578 | $ 257,321 |
Investment securities, One Year or Less, Fair Value | 0 | |
Investment securities, One Year to Five Years, Fair Value | 803 | |
Investment securities, Five to Ten Years, Fair Value | 2,205 | |
Investment securities, Over Ten Years, Fair Value | 0 | |
Total held to maturity, Fair Value | 3,008 | 7,194 |
Securities available for sale, Amortized Cost, One Year or Less | 2,789 | |
Securities available for sale, Amortized Cost, One Year to Five Years | 33,005 | |
Securities available for sale, Amortized Cost, Five to Ten Years | 90,828 | |
Securities available for sale, Amortized Cost, Over Ten Years | 118,265 | |
Available for sale, Amortized Cost | 244,887 | 256,445 |
Investment securities, Amortized Cost, One Year or Less | 0 | |
Investment securities, Amortized Cost, One Year to Five Years | 800 | |
Investment securities, Amortized Cost, Five to Ten Years | 2,142 | |
Investment securities, Amortized Cost, Over Ten Years | 0 | |
Held to maturity, Amortized Cost | 2,942 | 7,149 |
U.S. agency mortgage-backed | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | 16 | |
Securities available for sale, One Year to Five Years, Fair Value | 16,352 | |
Securities available for sale, Five to Ten Years, Fair Value | 47,727 | |
Securities available for sale, Over Ten Years, Fair Value | 59,057 | |
Total available for sale, Fair Value | 123,152 | 95,172 |
Securities available for sale, Amortized Cost, One Year or Less | 16 | |
Securities available for sale, Amortized Cost, One Year to Five Years | 15,802 | |
Securities available for sale, Amortized Cost, Five to Ten Years | 45,105 | |
Securities available for sale, Amortized Cost, Over Ten Years | 57,920 | |
Available for sale, Amortized Cost | 118,843 | 94,446 |
Collateralized mortgage obligations | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | 1,455 | |
Securities available for sale, One Year to Five Years, Fair Value | 15,591 | |
Securities available for sale, Five to Ten Years, Fair Value | 30,339 | |
Securities available for sale, Over Ten Years, Fair Value | 51,772 | |
Total available for sale, Fair Value | 99,157 | 142,451 |
Securities available for sale, Amortized Cost, One Year or Less | 1,455 | |
Securities available for sale, Amortized Cost, One Year to Five Years | 14,930 | |
Securities available for sale, Amortized Cost, Five to Ten Years | 29,529 | |
Securities available for sale, Amortized Cost, Over Ten Years | 51,457 | |
Available for sale, Amortized Cost | 97,371 | 142,408 |
Municipal bonds | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | 1,325 | |
Securities available for sale, One Year to Five Years, Fair Value | 2,297 | |
Securities available for sale, Five to Ten Years, Fair Value | 8,659 | |
Securities available for sale, Over Ten Years, Fair Value | 8,536 | |
Total available for sale, Fair Value | 20,817 | 16,005 |
Investment securities, One Year or Less, Fair Value | 0 | |
Investment securities, One Year to Five Years, Fair Value | 803 | |
Investment securities, Five to Ten Years, Fair Value | 2,205 | |
Investment securities, Over Ten Years, Fair Value | 0 | |
Total held to maturity, Fair Value | 3,008 | 7,194 |
Securities available for sale, Amortized Cost, One Year or Less | 1,318 | |
Securities available for sale, Amortized Cost, One Year to Five Years | 2,273 | |
Securities available for sale, Amortized Cost, Five to Ten Years | 8,265 | |
Securities available for sale, Amortized Cost, Over Ten Years | 8,459 | |
Available for sale, Amortized Cost | 20,315 | 15,895 |
Investment securities, Amortized Cost, One Year or Less | 0 | |
Investment securities, Amortized Cost, One Year to Five Years | 800 | |
Investment securities, Amortized Cost, Five to Ten Years | 2,142 | |
Investment securities, Amortized Cost, Over Ten Years | 0 | |
Held to maturity, Amortized Cost | 2,942 | 7,149 |
U.S. government agency | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | 0 | |
Securities available for sale, One Year to Five Years, Fair Value | 0 | |
Securities available for sale, Five to Ten Years, Fair Value | 5,991 | |
Securities available for sale, Over Ten Years, Fair Value | 422 | |
Total available for sale, Fair Value | 6,413 | 3,693 |
Securities available for sale, Amortized Cost, One Year or Less | 0 | |
Securities available for sale, Amortized Cost, One Year to Five Years | 0 | |
Securities available for sale, Amortized Cost, Five to Ten Years | 5,929 | |
Securities available for sale, Amortized Cost, Over Ten Years | 429 | |
Available for sale, Amortized Cost | 6,358 | $ 3,696 |
Corporate bonds | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | 0 | |
Securities available for sale, One Year to Five Years, Fair Value | 0 | |
Securities available for sale, Five to Ten Years, Fair Value | 2,039 | |
Securities available for sale, Over Ten Years, Fair Value | 0 | |
Total available for sale, Fair Value | 2,039 | |
Securities available for sale, Amortized Cost, One Year or Less | 0 | |
Securities available for sale, Amortized Cost, One Year to Five Years | 0 | |
Securities available for sale, Amortized Cost, Five to Ten Years | 2,000 | |
Securities available for sale, Amortized Cost, Over Ten Years | 0 | |
Available for sale, Amortized Cost | $ 2,000 |
Investment Securities - Company
Investment Securities - Company's Investment Securities With Unrealized Losses, Aggregated by Type and Length (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Securities available-for-sale, Fair Value | ||
Fair Value, Less Than 1 Year | $ 40,439 | $ 83,108 |
Fair Value, Over 1 Year | 3,590 | 42,745 |
Fair Value | 44,029 | 125,853 |
Securities available-for-sale, Unrealized Losses | ||
Gross unrealized losses, Less Than 1 Year | 152 | 652 |
Gross unrealized losses, Over 1 Year | 17 | 431 |
Unrealized Losses | 169 | 1,083 |
Securities held-to-maturity, Fair Value | ||
Fair Value, Less Than 1 Year | 0 | 0 |
Fair Value, Over 1 Year | 0 | 0 |
Fair Value | 0 | 0 |
Securities held-to-maturity, Unrealized Losses | ||
Gross unrealized losses, Less Than 1 Year | 0 | 0 |
Gross unrealized losses, Over 1 Year | 0 | 0 |
Unrealized Losses | 0 | 0 |
U.S. agency mortgage-backed | ||
Securities available-for-sale, Fair Value | ||
Fair Value, Less Than 1 Year | 14,660 | 28,847 |
Fair Value, Over 1 Year | 0 | 5,148 |
Fair Value | 14,660 | 33,995 |
Securities available-for-sale, Unrealized Losses | ||
Gross unrealized losses, Less Than 1 Year | 43 | 292 |
Gross unrealized losses, Over 1 Year | 0 | 63 |
Unrealized Losses | 43 | 355 |
Collateralized mortgage obligations | ||
Securities available-for-sale, Fair Value | ||
Fair Value, Less Than 1 Year | 21,557 | 50,004 |
Fair Value, Over 1 Year | 2,314 | 37,131 |
Fair Value | 23,871 | 87,135 |
Securities available-for-sale, Unrealized Losses | ||
Gross unrealized losses, Less Than 1 Year | 62 | 300 |
Gross unrealized losses, Over 1 Year | 5 | 358 |
Unrealized Losses | 67 | 658 |
Municipal bonds | ||
Securities available-for-sale, Fair Value | ||
Fair Value, Less Than 1 Year | 4,222 | 3,044 |
Fair Value, Over 1 Year | 0 | 0 |
Fair Value | 4,222 | 3,044 |
Securities available-for-sale, Unrealized Losses | ||
Gross unrealized losses, Less Than 1 Year | 47 | 56 |
Gross unrealized losses, Over 1 Year | 0 | 0 |
Unrealized Losses | 47 | 56 |
Securities held-to-maturity, Fair Value | ||
Fair Value, Less Than 1 Year | 0 | 0 |
Fair Value, Over 1 Year | 0 | 0 |
Fair Value | 0 | 0 |
Securities held-to-maturity, Unrealized Losses | ||
Gross unrealized losses, Less Than 1 Year | 0 | 0 |
Gross unrealized losses, Over 1 Year | 0 | 0 |
Unrealized Losses | 0 | 0 |
U.S. government agency | ||
Securities available-for-sale, Fair Value | ||
Fair Value, Less Than 1 Year | 0 | 1,213 |
Fair Value, Over 1 Year | 1,276 | 466 |
Fair Value | 1,276 | 1,679 |
Securities available-for-sale, Unrealized Losses | ||
Gross unrealized losses, Less Than 1 Year | 0 | 4 |
Gross unrealized losses, Over 1 Year | 12 | 10 |
Unrealized Losses | 12 | $ 14 |
Corporate bonds | ||
Securities available-for-sale, Fair Value | ||
Fair Value, Less Than 1 Year | 0 | |
Fair Value, Over 1 Year | 0 | |
Fair Value | 0 | |
Securities available-for-sale, Unrealized Losses | ||
Gross unrealized losses, Less Than 1 Year | 0 | |
Gross unrealized losses, Over 1 Year | 0 | |
Unrealized Losses | $ 0 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | Sep. 30, 2020USD ($)security | Dec. 31, 2019USD ($) |
Investments, Debt and Equity Securities [Abstract] | ||
Number of investment securities with unrealized losses | security | 36 | |
Percentage of gross unrealized losses (percent) | 0.40% | |
Percentage of amortized investment securities portfolio (percent) | 0.10% | |
Number of investment securities in a continuous loss position for over 12 months | security | 3 | |
Allowance for credit losses on available-for-sale securities | $ 0 | |
Allowance for credit losses on held-to-maturity securities | 0 | |
Accrued interest receivable | 695,000 | $ 894,000 |
Securities pledged to secure public deposits | $ 131,668,000 | $ 157,091,000 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost of Held-to-Maturity Securities by Credit Quality (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Held-to-maturity, Amortized cost | $ 2,942 | $ 7,149 |
Municipal bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Held-to-maturity, Amortized cost | 2,942 | $ 7,149 |
Municipal bonds | AAA/AA/A | ||
Debt Securities, Available-for-sale [Line Items] | ||
Held-to-maturity, Amortized cost | 2,942 | |
Municipal bonds | BBB/BB/B | ||
Debt Securities, Available-for-sale [Line Items] | ||
Held-to-maturity, Amortized cost | $ 0 |
Earnings Per Share - Earnings P
Earnings Per Share - Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Numerator: | ||||
Net income available to common shareholders | $ 8,782 | $ 6,856 | $ 13,180 | $ 21,326 |
Denominator: | ||||
Weighted average common shares outstanding | 8,627 | 9,059 | 8,737 | 9,114 |
Effect of dilutive securities: | ||||
Weighted average common shares outstanding-assuming dilution | 8,651 | 9,107 | 8,769 | 9,189 |
Basic earnings per common share (in usd per share) | $ 1.01 | $ 0.76 | $ 1.51 | $ 2.34 |
Diluted earnings per common share (in usd per share) | $ 1.01 | $ 0.75 | $ 1.51 | $ 2.32 |
Restricted stock | ||||
Effect of dilutive securities: | ||||
Restricted stock / Stock options | 7 | 9 | 9 | 12 |
Stock options | ||||
Effect of dilutive securities: | ||||
Restricted stock / Stock options | 17 | 39 | 23 | 63 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Earnings Per Share [Abstract] | ||||
Number of options and common stock not included in computing diluted earnings per share (shares) | 160,282 | 100,288 | 129,559 | 90,511 |
Credit Quality and Allowance _3
Credit Quality and Allowance for Credit Losses - Summary of Loans, Net of Unearned Income (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 1,955,297 | $ 1,714,361 |
Real Estate Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,472,880 | 1,484,056 |
Other Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 482,417 | 230,305 |
One- to four-family first mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 409,282 | 430,820 |
One- to four-family first mortgage | Real Estate Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 409,282 | 430,820 |
Home equity loans and lines | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 67,766 | 79,812 |
Home equity loans and lines | Real Estate Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 67,766 | 79,812 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 707,638 | 722,807 |
Commercial real estate | Real Estate Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 707,638 | 722,807 |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 201,575 | 195,748 |
Construction and land | Real Estate Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 201,575 | 195,748 |
Multi-family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 86,619 | 54,869 |
Multi-family residential | Real Estate Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 86,619 | 54,869 |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 443,480 | 184,701 |
Commercial and industrial | Other Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 443,480 | 184,701 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 38,937 | 45,604 |
Consumer | Other Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 38,937 | $ 45,604 |
Credit Quality and Allowance _4
Credit Quality and Allowance for Credit Losses - Additional Information (Details) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020USD ($)SecurityLoanproperty | Sep. 30, 2019USD ($)SecurityLoan | Dec. 31, 2019USD ($) | Jan. 01, 2020USD ($) | |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | us-gaap:AccountingStandardsUpdate201613Member | ||
Net discount on loans | $ 8,343,000 | $ 12,315,000 | ||
Deferred discounts finance charges and interest included in receivables | 10,621,000 | 3,114,000 | ||
Accrued interest receivable | 695,000 | 894,000 | ||
Foreclosed assets and ORE | 1,985,000 | 4,156,000 | ||
TDR threshold for determining ACL | 250,000 | |||
Outstanding balances of modified loan | $ 70,200,000 | |||
Modified loans receivable (percent) | 4.00% | |||
ASC Topic 326 Adoption Impact | ASC Topic 326 | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Purchase discount reclassified to ALL | $ 1,000,000 | |||
Acquired with Deteriorated Credit Quality | Commercial Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Number of loans | SecurityLoan | 1 | |||
Company's loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Accrued interest receivable | $ 9,435,000 | 6,575,000 | ||
PPP loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Deferred lender fees | 7,606,000 | |||
Residential Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Foreclosed real estate assets | $ 996,000 | 1,737,000 | ||
Residential mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Troubled debt restructurings for which there was a payment default | SecurityLoan | 2 | 2 | ||
Troubled debt restructurings with subsequent default | $ 543,000 | $ 619,000 | ||
Commercial Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Troubled debt restructurings for which there was a payment default | SecurityLoan | 1 | |||
Troubled debt restructurings with subsequent default | $ 77,000 | |||
Consumer loan | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Troubled debt restructurings for which there was a payment default | SecurityLoan | 1 | 1 | ||
Troubled debt restructurings with subsequent default | $ 4,000 | $ 6,000 | ||
Held for sale | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Foreclosed assets and ORE | 729,000 | $ 1,275,000 | ||
Sold | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Foreclosed assets and ORE | $ 410,000 | |||
Number of properties sold | property | 5 | |||
Gain on sale of property | $ 64,000 |
Credit Quality and Allowance _5
Credit Quality and Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | $ 33,002 | $ 24,866 | $ 17,868 | ||
Allowance for loan losses | 36,639 | 17,868 | |||
Recorded investment in loans | 1,955,297 | 1,714,361 | |||
Loans, net of unearned income | 1,955,297 | 1,714,361 | |||
Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 33,002 | 22,501 | 17,868 | $ 17,598 | $ 16,348 |
Unfunded lending commitments | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 3,637 | 2,365 | 0 | ||
One- to four-family first mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 409,282 | 430,820 | |||
Loans, net of unearned income | 409,282 | 430,820 | |||
One- to four-family first mortgage | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 3,413 | 3,701 | 2,715 | 2,403 | 2,136 |
Home equity loans and lines | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 67,766 | 79,812 | |||
Loans, net of unearned income | 67,766 | 79,812 | |||
Home equity loans and lines | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 771 | 1,083 | 1,084 | 1,088 | 1,079 |
Commercial real estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 707,638 | 722,807 | |||
Loans, net of unearned income | 707,638 | 722,807 | |||
Commercial real estate | Commercial Real Estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 689 | ||||
Commercial real estate | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 18,351 | 8,515 | 6,541 | 6,815 | 6,125 |
Construction and land | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 201,575 | 195,748 | |||
Loans, net of unearned income | 201,575 | 195,748 | |||
Construction and land | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 4,078 | 3,189 | 2,670 | 2,172 | 2,285 |
Multi-family residential | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 86,619 | 54,869 | |||
Loans, net of unearned income | 86,619 | 54,869 | |||
Multi-family residential | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 1,067 | 327 | 572 | 572 | 550 |
Commercial and industrial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 443,480 | 184,701 | |||
Loans, net of unearned income | 443,480 | 184,701 | |||
Commercial and industrial | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 4,437 | 4,937 | 3,694 | 3,850 | 3,228 |
Consumer | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 38,937 | 45,604 | |||
Loans, net of unearned income | 38,937 | 45,604 | |||
Consumer | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 885 | $ 749 | 592 | $ 698 | $ 945 |
Originated loans | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 35,519 | 16,497 | |||
Individually evaluated for impairment, Allowance for loan losses | 1,120 | 1,347 | |||
Collectively evaluated for impairment, Recorded investment in loans | 1,947,449 | 1,698,251 | |||
Individually evaluated for impairment, Recorded investment in loans | 7,848 | 8,712 | |||
Loans, net of unearned income | 1,576,594 | 1,251,201 | |||
Originated loans | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 31,882 | ||||
Individually evaluated for impairment, Allowance for loan losses | 1,120 | ||||
Originated loans | Unfunded lending commitments | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 3,637 | ||||
Individually evaluated for impairment, Allowance for loan losses | 0 | ||||
Loans, net of unearned income | 326,800 | ||||
Originated loans | One- to four-family first mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Recorded investment in loans | 409,282 | 429,745 | |||
Individually evaluated for impairment, Recorded investment in loans | 0 | 187 | |||
Loans, net of unearned income | 251,346 | ||||
Originated loans | One- to four-family first mortgage | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 3,413 | 2,715 | |||
Individually evaluated for impairment, Allowance for loan losses | 0 | 0 | |||
Originated loans | Home equity loans and lines | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Recorded investment in loans | 67,766 | 78,446 | |||
Individually evaluated for impairment, Recorded investment in loans | 0 | 784 | |||
Loans, net of unearned income | 56,964 | ||||
Originated loans | Home equity loans and lines | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 771 | 736 | |||
Individually evaluated for impairment, Allowance for loan losses | 0 | 348 | |||
Originated loans | Commercial real estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Recorded investment in loans | 700,402 | 711,282 | |||
Individually evaluated for impairment, Recorded investment in loans | 7,236 | 6,518 | |||
Loans, net of unearned income | 529,139 | ||||
Originated loans | Commercial real estate | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 17,662 | 6,243 | |||
Individually evaluated for impairment, Allowance for loan losses | 689 | 298 | |||
Originated loans | Construction and land | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Recorded investment in loans | 201,575 | 195,374 | |||
Individually evaluated for impairment, Recorded investment in loans | 0 | 0 | |||
Loans, net of unearned income | 173,687 | ||||
Originated loans | Construction and land | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 4,078 | 2,670 | |||
Individually evaluated for impairment, Allowance for loan losses | 0 | 0 | |||
Originated loans | Multi-family residential | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Recorded investment in loans | 86,619 | 54,690 | |||
Individually evaluated for impairment, Recorded investment in loans | 0 | 0 | |||
Loans, net of unearned income | 48,661 | ||||
Originated loans | Multi-family residential | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 1,067 | 572 | |||
Individually evaluated for impairment, Allowance for loan losses | 0 | 0 | |||
Originated loans | Commercial and industrial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Recorded investment in loans | 442,868 | 183,141 | |||
Individually evaluated for impairment, Recorded investment in loans | 612 | 1,223 | |||
Loans, net of unearned income | 155,724 | ||||
Originated loans | Commercial and industrial | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 4,006 | 2,969 | |||
Individually evaluated for impairment, Allowance for loan losses | 431 | 701 | |||
Originated loans | Consumer | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Recorded investment in loans | 38,937 | 45,573 | |||
Individually evaluated for impairment, Recorded investment in loans | 0 | 0 | |||
Loans, net of unearned income | 35,680 | ||||
Originated loans | Consumer | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Collectively evaluated for impairment, Allowance for loan losses | 885 | 592 | |||
Individually evaluated for impairment, Allowance for loan losses | 0 | 0 | |||
Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 24 | ||||
Recorded investment in loans | 7,398 | ||||
Acquired with Deteriorated Credit Quality | Commercial Real Estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Individually evaluated for impairment, Recorded investment in loans | $ 1,900 | ||||
Acquired with Deteriorated Credit Quality | One- to four-family first mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 888 | ||||
Acquired with Deteriorated Credit Quality | One- to four-family first mortgage | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 0 | ||||
Acquired with Deteriorated Credit Quality | Home equity loans and lines | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 582 | ||||
Acquired with Deteriorated Credit Quality | Home equity loans and lines | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 0 | ||||
Acquired with Deteriorated Credit Quality | Commercial real estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 5,007 | ||||
Acquired with Deteriorated Credit Quality | Commercial real estate | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 0 | ||||
Acquired with Deteriorated Credit Quality | Construction and land | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 374 | ||||
Acquired with Deteriorated Credit Quality | Construction and land | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 0 | ||||
Acquired with Deteriorated Credit Quality | Multi-family residential | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 179 | ||||
Acquired with Deteriorated Credit Quality | Multi-family residential | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 0 | ||||
Acquired with Deteriorated Credit Quality | Commercial and industrial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 337 | ||||
Acquired with Deteriorated Credit Quality | Commercial and industrial | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses | 24 | ||||
Acquired with Deteriorated Credit Quality | Consumer | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Recorded investment in loans | 31 | ||||
Acquired with Deteriorated Credit Quality | Consumer | Allowance for loan losses | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses |
Credit Quality and Allowance _6
Credit Quality and Allowance for Credit Losses - Schedule of Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Allowance for credit losses: | |||||
Beginning Balance | $ 17,868 | ||||
Charge-offs | (2,522) | ||||
Recoveries | 295 | ||||
Provision | $ 0 | $ 1,146 | 12,728 | $ 2,301 | |
Provision | 14,000 | ||||
Ending Balance | 33,002 | 33,002 | |||
Ending Balance | 36,639 | 36,639 | $ 17,868 | ||
Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 17,868 | 16,348 | |||
Charge-offs | (2,522) | (1,118) | |||
Recoveries | 295 | 67 | |||
Provision | 12,728 | 2,301 | |||
Ending Balance | 33,002 | 17,598 | 33,002 | 17,598 | |
Unfunded lending commitments | |||||
Allowance for credit losses: | |||||
Beginning Balance | 0 | ||||
Charge-offs | 0 | ||||
Recoveries | 0 | ||||
Provision | 1,272 | ||||
Ending Balance | 3,637 | 3,637 | |||
ASC Topic 326 Adoption Impact | |||||
Allowance for credit losses: | |||||
Ending Balance | $ 6,998 | ||||
ASC Topic 326 Adoption Impact | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 4,633 | ||||
ASC Topic 326 Adoption Impact | Unfunded lending commitments | |||||
Allowance for credit losses: | |||||
Beginning Balance | 2,365 | ||||
One- to four-family first mortgage | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 2,715 | 2,136 | |||
Charge-offs | (55) | (4) | |||
Recoveries | 12 | 0 | |||
Provision | (245) | 271 | |||
Ending Balance | 3,413 | 2,403 | 3,413 | 2,403 | |
One- to four-family first mortgage | ASC Topic 326 Adoption Impact | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 986 | ||||
Home equity loans and lines | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 1,084 | 1,079 | |||
Charge-offs | (575) | (42) | |||
Recoveries | 15 | 10 | |||
Provision | 248 | 41 | |||
Ending Balance | 771 | 1,088 | 771 | 1,088 | |
Home equity loans and lines | ASC Topic 326 Adoption Impact | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | (1) | ||||
Commercial real estate | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 6,541 | 6,125 | |||
Charge-offs | (5) | (139) | |||
Recoveries | 55 | 0 | |||
Provision | 9,786 | 829 | |||
Ending Balance | 18,351 | 6,815 | 18,351 | 6,815 | |
Commercial real estate | ASC Topic 326 Adoption Impact | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 1,974 | ||||
Construction and land | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 2,670 | 2,285 | |||
Charge-offs | (688) | 0 | |||
Recoveries | 0 | 0 | |||
Provision | 1,577 | (113) | |||
Ending Balance | 4,078 | 2,172 | 4,078 | 2,172 | |
Construction and land | ASC Topic 326 Adoption Impact | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 519 | ||||
Multi-family residential | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 572 | 550 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Provision | 740 | 22 | |||
Ending Balance | 1,067 | 572 | 1,067 | 572 | |
Multi-family residential | ASC Topic 326 Adoption Impact | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | (245) | ||||
Commercial and industrial | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 3,694 | 3,228 | |||
Charge-offs | (977) | (744) | |||
Recoveries | 91 | 23 | |||
Provision | 386 | 1,343 | |||
Ending Balance | 4,437 | 3,850 | 4,437 | 3,850 | |
Commercial and industrial | ASC Topic 326 Adoption Impact | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 1,243 | ||||
Consumer | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | 592 | 945 | |||
Charge-offs | (222) | (189) | |||
Recoveries | 122 | 34 | |||
Provision | 236 | (92) | |||
Ending Balance | $ 885 | $ 698 | 885 | $ 698 | |
Consumer | ASC Topic 326 Adoption Impact | Allowance for loan losses | |||||
Allowance for credit losses: | |||||
Beginning Balance | $ 157 |
Credit Quality and Allowance _7
Credit Quality and Allowance for Credit Losses - Schedule of Loan Portfolio by Credit Quality Classification (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | $ 1,955,297 | $ 1,714,361 |
Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,576,594 | 1,251,201 |
Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 378,703 | 463,160 |
One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 409,282 | 430,820 |
One- to four-family first mortgage | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 251,346 | |
One- to four-family first mortgage | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 179,474 | |
Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 67,766 | 79,812 |
Home equity loans and lines | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 56,964 | |
Home equity loans and lines | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 22,848 | |
Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 707,638 | 722,807 |
Commercial real estate | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 529,139 | |
Commercial real estate | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 193,668 | |
Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 201,575 | 195,748 |
Construction and land | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 173,687 | |
Construction and land | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 22,061 | |
Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 86,619 | 54,869 |
Multi-family residential | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 48,661 | |
Multi-family residential | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 6,208 | |
Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 443,480 | 184,701 |
Commercial and industrial | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 155,724 | |
Commercial and industrial | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 28,977 | |
Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 38,937 | 45,604 |
Consumer | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 35,680 | |
Consumer | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 9,924 | |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,907,072 | 1,660,759 |
Pass | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,223,929 | |
Pass | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 436,830 | |
Pass | One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 401,172 | 421,965 |
Pass | One- to four-family first mortgage | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 248,483 | |
Pass | One- to four-family first mortgage | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 173,482 | |
Pass | Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 67,328 | 78,399 |
Pass | Home equity loans and lines | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 56,029 | |
Pass | Home equity loans and lines | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 22,370 | |
Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 689,330 | 698,705 |
Pass | Commercial real estate | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 517,615 | |
Pass | Commercial real estate | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 181,090 | |
Pass | Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 189,061 | 184,187 |
Pass | Construction and land | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 164,310 | |
Pass | Construction and land | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 19,877 | |
Pass | Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 86,420 | 54,148 |
Pass | Multi-family residential | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 48,661 | |
Pass | Multi-family residential | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 5,487 | |
Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 435,284 | 178,142 |
Pass | Commercial and industrial | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 153,286 | |
Pass | Commercial and industrial | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 24,856 | |
Pass | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 38,477 | 45,213 |
Pass | Consumer | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 35,545 | |
Pass | Consumer | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 9,668 | |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 21,332 | 13,764 |
Special Mention | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 9,143 | |
Special Mention | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 4,621 | |
Special Mention | One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 2,169 | 2,159 |
Special Mention | One- to four-family first mortgage | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 730 | |
Special Mention | One- to four-family first mortgage | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,429 | |
Special Mention | Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 329 | 181 |
Special Mention | Home equity loans and lines | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 53 | |
Special Mention | Home equity loans and lines | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 128 | |
Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,123 | 1,800 |
Special Mention | Commercial real estate | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 207 | |
Special Mention | Commercial real estate | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,593 | |
Special Mention | Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 11,914 | 8,854 |
Special Mention | Construction and land | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 8,107 | |
Special Mention | Construction and land | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 747 | |
Special Mention | Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | 502 |
Special Mention | Multi-family residential | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Special Mention | Multi-family residential | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 502 | |
Special Mention | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 5,613 | 56 |
Special Mention | Commercial and industrial | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Special Mention | Commercial and industrial | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 56 | |
Special Mention | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 184 | 212 |
Special Mention | Consumer | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 46 | |
Special Mention | Consumer | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 166 | |
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 26,893 | 39,838 |
Substandard | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 18,129 | |
Substandard | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 21,709 | |
Substandard | One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 5,941 | 6,696 |
Substandard | One- to four-family first mortgage | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 2,133 | |
Substandard | One- to four-family first mortgage | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 4,563 | |
Substandard | Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 109 | 1,232 |
Substandard | Home equity loans and lines | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 882 | |
Substandard | Home equity loans and lines | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 350 | |
Substandard | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 17,185 | 22,302 |
Substandard | Commercial real estate | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 11,317 | |
Substandard | Commercial real estate | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 10,985 | |
Substandard | Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 600 | 2,707 |
Substandard | Construction and land | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,270 | |
Substandard | Construction and land | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,437 | |
Substandard | Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 199 | 219 |
Substandard | Multi-family residential | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Substandard | Multi-family residential | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 219 | |
Substandard | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 2,583 | 6,503 |
Substandard | Commercial and industrial | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 2,438 | |
Substandard | Commercial and industrial | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 4,065 | |
Substandard | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 276 | 179 |
Substandard | Consumer | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 89 | |
Substandard | Consumer | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 90 | |
Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful | One- to four-family first mortgage | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | One- to four-family first mortgage | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful | Home equity loans and lines | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Home equity loans and lines | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful | Commercial real estate | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Commercial real estate | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful | Construction and land | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Construction and land | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful | Multi-family residential | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Multi-family residential | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | 0 |
Doubtful | Commercial and industrial | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Commercial and industrial | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | $ 0 | 0 |
Doubtful | Consumer | Originated loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 0 | |
Doubtful | Consumer | Acquired loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | $ 0 |
Credit Quality and Allowance _8
Credit Quality and Allowance for Credit Losses - Schedule of Loan Portfolio by Credit Quality Classification and Origination Year (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | $ 591,979 | |
2019 | 407,769 | |
2018 | 209,111 | |
2017 | 180,409 | |
2016 | 123,375 | |
Prior | 253,292 | |
Revolving Loans | 175,634 | |
Revolving Loans Converted to Term Loans | 13,728 | |
Total Loans | 1,955,297 | $ 1,714,361 |
One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 41,152 | |
2019 | 71,007 | |
2018 | 50,686 | |
2017 | 52,515 | |
2016 | 40,380 | |
Prior | 133,919 | |
Revolving Loans | 18,474 | |
Revolving Loans Converted to Term Loans | 1,149 | |
Total Loans | 409,282 | 430,820 |
Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 707 | |
2019 | 1,384 | |
2018 | 2,155 | |
2017 | 1,177 | |
2016 | 2,098 | |
Prior | 6,594 | |
Revolving Loans | 53,065 | |
Revolving Loans Converted to Term Loans | 586 | |
Total Loans | 67,766 | 79,812 |
Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 162,554 | |
2019 | 169,543 | |
2018 | 101,525 | |
2017 | 107,374 | |
2016 | 66,347 | |
Prior | 81,350 | |
Revolving Loans | 18,890 | |
Revolving Loans Converted to Term Loans | 55 | |
Total Loans | 707,638 | 722,807 |
Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 57,798 | |
2019 | 99,134 | |
2018 | 19,765 | |
2017 | 5,858 | |
2016 | 3,020 | |
Prior | 2,995 | |
Revolving Loans | 2,141 | |
Revolving Loans Converted to Term Loans | 10,864 | |
Total Loans | 201,575 | 195,748 |
Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 34,726 | |
2019 | 26,813 | |
2018 | 10,466 | |
2017 | 3,892 | |
2016 | 2,944 | |
Prior | 5,657 | |
Revolving Loans | 2,121 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 86,619 | 54,869 |
Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 290,509 | |
2019 | 36,547 | |
2018 | 23,109 | |
2017 | 7,190 | |
2016 | 7,166 | |
Prior | 3,048 | |
Revolving Loans | 74,852 | |
Revolving Loans Converted to Term Loans | 1,059 | |
Total Loans | 443,480 | 184,701 |
Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 4,533 | |
2019 | 3,341 | |
2018 | 1,405 | |
2017 | 2,403 | |
2016 | 1,420 | |
Prior | 19,729 | |
Revolving Loans | 6,091 | |
Revolving Loans Converted to Term Loans | 15 | |
Total Loans | 38,937 | 45,604 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 586,728 | |
2019 | 404,515 | |
2018 | 206,053 | |
2017 | 178,900 | |
2016 | 119,244 | |
Prior | 236,329 | |
Revolving Loans | 172,709 | |
Revolving Loans Converted to Term Loans | 2,594 | |
Total Loans | 1,907,072 | 1,660,759 |
Pass | One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 41,018 | |
2019 | 70,884 | |
2018 | 50,516 | |
2017 | 51,480 | |
2016 | 39,087 | |
Prior | 128,564 | |
Revolving Loans | 18,474 | |
Revolving Loans Converted to Term Loans | 1,149 | |
Total Loans | 401,172 | 421,965 |
Pass | Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 707 | |
2019 | 1,341 | |
2018 | 2,155 | |
2017 | 1,133 | |
2016 | 2,098 | |
Prior | 6,409 | |
Revolving Loans | 53,065 | |
Revolving Loans Converted to Term Loans | 420 | |
Total Loans | 67,328 | 78,399 |
Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 161,064 | |
2019 | 167,785 | |
2018 | 99,240 | |
2017 | 106,999 | |
2016 | 63,987 | |
Prior | 71,310 | |
Revolving Loans | 18,890 | |
Revolving Loans Converted to Term Loans | 55 | |
Total Loans | 689,330 | 698,705 |
Pass | Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 56,923 | |
2019 | 99,081 | |
2018 | 19,765 | |
2017 | 5,858 | |
2016 | 2,735 | |
Prior | 2,109 | |
Revolving Loans | 2,141 | |
Revolving Loans Converted to Term Loans | 449 | |
Total Loans | 189,061 | 184,187 |
Pass | Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 34,726 | |
2019 | 26,721 | |
2018 | 10,466 | |
2017 | 3,892 | |
2016 | 2,944 | |
Prior | 5,550 | |
Revolving Loans | 2,121 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 86,420 | 54,148 |
Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 287,757 | |
2019 | 35,391 | |
2018 | 22,512 | |
2017 | 7,150 | |
2016 | 7,010 | |
Prior | 3,030 | |
Revolving Loans | 71,928 | |
Revolving Loans Converted to Term Loans | 506 | |
Total Loans | 435,284 | 178,142 |
Pass | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 4,533 | |
2019 | 3,312 | |
2018 | 1,399 | |
2017 | 2,388 | |
2016 | 1,383 | |
Prior | 19,357 | |
Revolving Loans | 6,090 | |
Revolving Loans Converted to Term Loans | 15 | |
Total Loans | 38,477 | 45,213 |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 4,615 | |
2019 | 1,322 | |
2018 | 338 | |
2017 | 908 | |
2016 | 98 | |
Prior | 1,917 | |
Revolving Loans | 1,000 | |
Revolving Loans Converted to Term Loans | 11,134 | |
Total Loans | 21,332 | 13,764 |
Special Mention | One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 123 | |
2018 | 170 | |
2017 | 796 | |
2016 | 23 | |
Prior | 1,057 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 2,169 | 2,159 |
Special Mention | Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 43 | |
2018 | 0 | |
2017 | 43 | |
2016 | 0 | |
Prior | 77 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 166 | |
Total Loans | 329 | 181 |
Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 1,015 | |
2019 | 0 | |
2018 | 0 | |
2017 | 54 | |
2016 | 54 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 1,123 | 1,800 |
Special Mention | Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 875 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 624 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 10,415 | |
Total Loans | 11,914 | 8,854 |
Special Mention | Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 0 | 502 |
Special Mention | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 2,725 | |
2019 | 1,156 | |
2018 | 164 | |
2017 | 15 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 1,000 | |
Revolving Loans Converted to Term Loans | 553 | |
Total Loans | 5,613 | 56 |
Special Mention | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 4 | |
2017 | 0 | |
2016 | 21 | |
Prior | 159 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 184 | 212 |
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 636 | |
2019 | 1,932 | |
2018 | 2,720 | |
2017 | 601 | |
2016 | 4,033 | |
Prior | 15,046 | |
Revolving Loans | 1,925 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 26,893 | 39,838 |
Substandard | One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 134 | |
2019 | 0 | |
2018 | 0 | |
2017 | 239 | |
2016 | 1,270 | |
Prior | 4,298 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 5,941 | 6,696 |
Substandard | Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 1 | |
2016 | 0 | |
Prior | 108 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 109 | 1,232 |
Substandard | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 475 | |
2019 | 1,758 | |
2018 | 2,285 | |
2017 | 321 | |
2016 | 2,306 | |
Prior | 10,040 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 17,185 | 22,302 |
Substandard | Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 53 | |
2018 | 0 | |
2017 | 0 | |
2016 | 285 | |
Prior | 262 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 600 | 2,707 |
Substandard | Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 92 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 107 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 199 | 219 |
Substandard | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 27 | |
2019 | 0 | |
2018 | 433 | |
2017 | 25 | |
2016 | 156 | |
Prior | 18 | |
Revolving Loans | 1,924 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 2,583 | 6,503 |
Substandard | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 29 | |
2018 | 2 | |
2017 | 15 | |
2016 | 16 | |
Prior | 213 | |
Revolving Loans | 1 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 276 | 179 |
Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 0 | 0 |
Doubtful | One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 0 | 0 |
Doubtful | Home equity loans and lines | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 0 | 0 |
Doubtful | Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 0 | 0 |
Doubtful | Construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 0 | 0 |
Doubtful | Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 0 | 0 |
Doubtful | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | 0 | 0 |
Doubtful | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior | 0 | |
Revolving Loans | 0 | |
Revolving Loans Converted to Term Loans | 0 | |
Total Loans | $ 0 | $ 0 |
Credit Quality and Allowance _9
Credit Quality and Allowance for Credit Losses - Schedule of Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 25,453 | $ 29,639 |
Current Loans | 1,929,844 | 1,684,722 |
Total Loans | 1,955,297 | 1,714,361 |
30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9,106 | 9,402 |
60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 548 | 3,637 |
Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15,799 | 16,600 |
Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 12,581 | 16,541 |
Current Loans | 1,564,013 | 1,234,660 |
Total Loans | 1,576,594 | 1,251,201 |
Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,564 | 3,568 |
Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 88 | 1,778 |
Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,929 | 11,195 |
Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 12,872 | 13,098 |
Current Loans | 365,831 | 450,062 |
Total Loans | 378,703 | 463,160 |
Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,542 | 5,834 |
Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 460 | 1,859 |
Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,870 | 5,405 |
Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 22,703 | 26,535 |
Current Loans | 1,450,177 | 1,457,521 |
Total Loans | 1,472,880 | 1,484,056 |
Real Estate Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,176 | 8,394 |
Real Estate Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 473 | 3,296 |
Real Estate Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14,054 | 14,845 |
Real Estate Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10,933 | 14,735 |
Current Loans | 1,109,599 | 1,045,062 |
Total Loans | 1,120,532 | 1,059,797 |
Real Estate Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,705 | 2,822 |
Real Estate Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 36 | 1,621 |
Real Estate Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,192 | 10,292 |
Real Estate Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 11,770 | 11,800 |
Current Loans | 340,578 | 412,459 |
Total Loans | 352,348 | 424,259 |
Real Estate Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,471 | 5,572 |
Real Estate Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 437 | 1,675 |
Real Estate Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,862 | 4,553 |
Other Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,750 | 3,104 |
Current Loans | 479,667 | 227,201 |
Total Loans | 482,417 | 230,305 |
Other Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 930 | 1,008 |
Other Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 75 | 341 |
Other Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,745 | 1,755 |
Other Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,648 | 1,806 |
Current Loans | 454,414 | 189,598 |
Total Loans | 456,062 | 191,404 |
Other Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 859 | 746 |
Other Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 52 | 157 |
Other Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 737 | 903 |
Other Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,102 | 1,298 |
Current Loans | 25,253 | 37,603 |
Total Loans | 26,355 | 38,901 |
Other Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 71 | 262 |
Other Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 23 | 184 |
Other Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,008 | 852 |
One- to four-family first mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 409,282 | 430,820 |
One- to four-family first mortgage | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 251,346 | |
One- to four-family first mortgage | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 179,474 | |
One- to four-family first mortgage | Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,897 | 9,443 |
Current Loans | 402,385 | 421,377 |
Total Loans | 409,282 | 430,820 |
One- to four-family first mortgage | Real Estate Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,067 | 6,079 |
One- to four-family first mortgage | Real Estate Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 473 | 1,289 |
One- to four-family first mortgage | Real Estate Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,357 | 2,075 |
One- to four-family first mortgage | Real Estate Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,683 | 2,664 |
Current Loans | 259,246 | 248,682 |
Total Loans | 260,929 | 251,346 |
One- to four-family first mortgage | Real Estate Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 500 | 1,524 |
One- to four-family first mortgage | Real Estate Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 36 | 173 |
One- to four-family first mortgage | Real Estate Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,147 | 967 |
One- to four-family first mortgage | Real Estate Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,214 | 6,779 |
Current Loans | 143,139 | 172,695 |
Total Loans | 148,353 | 179,474 |
One- to four-family first mortgage | Real Estate Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,567 | 4,555 |
One- to four-family first mortgage | Real Estate Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 437 | 1,116 |
One- to four-family first mortgage | Real Estate Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,210 | 1,108 |
Home equity loans and lines | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 67,766 | 79,812 |
Home equity loans and lines | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 56,964 | |
Home equity loans and lines | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 22,848 | |
Home equity loans and lines | Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 215 | 962 |
Current Loans | 67,551 | 78,850 |
Total Loans | 67,766 | 79,812 |
Home equity loans and lines | Real Estate Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 150 | 441 |
Home equity loans and lines | Real Estate Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 93 |
Home equity loans and lines | Real Estate Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 65 | 428 |
Home equity loans and lines | Real Estate Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 151 | 272 |
Current Loans | 51,491 | 56,692 |
Total Loans | 51,642 | 56,964 |
Home equity loans and lines | Real Estate Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 106 | 174 |
Home equity loans and lines | Real Estate Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Home equity loans and lines | Real Estate Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 45 | 98 |
Home equity loans and lines | Real Estate Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 64 | 690 |
Current Loans | 16,060 | 22,158 |
Total Loans | 16,124 | 22,848 |
Home equity loans and lines | Real Estate Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 44 | 267 |
Home equity loans and lines | Real Estate Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 93 |
Home equity loans and lines | Real Estate Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 20 | 330 |
Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 707,638 | 722,807 |
Commercial real estate | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 529,139 | |
Commercial real estate | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 193,668 | |
Commercial real estate | Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 13,133 | 13,376 |
Current Loans | 694,505 | 709,431 |
Total Loans | 707,638 | 722,807 |
Commercial real estate | Real Estate Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,935 | 1,461 |
Commercial real estate | Real Estate Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 1,914 |
Commercial real estate | Real Estate Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 11,198 | 10,001 |
Commercial real estate | Real Estate Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,075 | 10,628 |
Current Loans | 533,126 | 518,511 |
Total Loans | 540,201 | 529,139 |
Commercial real estate | Real Estate Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 75 | 1,124 |
Commercial real estate | Real Estate Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 1,448 |
Commercial real estate | Real Estate Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,000 | 8,056 |
Commercial real estate | Real Estate Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,058 | 2,748 |
Current Loans | 161,379 | 190,920 |
Total Loans | 167,437 | 193,668 |
Commercial real estate | Real Estate Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,860 | 337 |
Commercial real estate | Real Estate Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 466 |
Commercial real estate | Real Estate Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,198 | 1,945 |
Construction and land | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 201,575 | 195,748 |
Construction and land | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 173,687 | |
Construction and land | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 22,061 | |
Construction and land | Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 959 | 2,754 |
Current Loans | 200,616 | 192,994 |
Total Loans | 201,575 | 195,748 |
Construction and land | Real Estate Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 525 | 413 |
Construction and land | Real Estate Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction and land | Real Estate Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 434 | 2,341 |
Construction and land | Real Estate Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 525 | 1,171 |
Current Loans | 186,044 | 172,516 |
Total Loans | 186,569 | 173,687 |
Construction and land | Real Estate Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 525 | 0 |
Construction and land | Real Estate Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction and land | Real Estate Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 1,171 |
Construction and land | Real Estate Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 434 | 1,583 |
Current Loans | 14,572 | 20,478 |
Total Loans | 15,006 | 22,061 |
Construction and land | Real Estate Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 413 |
Construction and land | Real Estate Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction and land | Real Estate Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 434 | 1,170 |
Multi-family residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 86,619 | 54,869 |
Multi-family residential | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 48,661 | |
Multi-family residential | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 6,208 | |
Multi-family residential | Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,499 | 0 |
Current Loans | 85,120 | 54,869 |
Total Loans | 86,619 | 54,869 |
Multi-family residential | Real Estate Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,499 | 0 |
Multi-family residential | Real Estate Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential | Real Estate Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential | Real Estate Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,499 | 0 |
Current Loans | 79,692 | 48,661 |
Total Loans | 81,191 | 48,661 |
Multi-family residential | Real Estate Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,499 | 0 |
Multi-family residential | Real Estate Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential | Real Estate Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential | Real Estate Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current Loans | 5,428 | 6,208 |
Total Loans | 5,428 | 6,208 |
Multi-family residential | Real Estate Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential | Real Estate Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential | Real Estate Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 443,480 | 184,701 |
Commercial and industrial | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 155,724 | |
Commercial and industrial | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 28,977 | |
Commercial and industrial | Other Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,194 | 2,034 |
Current Loans | 441,286 | 182,667 |
Total Loans | 443,480 | 184,701 |
Commercial and industrial | Other Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 642 | 216 |
Commercial and industrial | Other Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 157 |
Commercial and industrial | Other Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,552 | 1,661 |
Commercial and industrial | Other Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,245 | 1,182 |
Current Loans | 422,464 | 154,542 |
Total Loans | 423,709 | 155,724 |
Commercial and industrial | Other Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 638 | 213 |
Commercial and industrial | Other Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 100 |
Commercial and industrial | Other Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 607 | 869 |
Commercial and industrial | Other Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 949 | 852 |
Current Loans | 18,822 | 28,125 |
Total Loans | 19,771 | 28,977 |
Commercial and industrial | Other Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | 3 |
Commercial and industrial | Other Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 57 |
Commercial and industrial | Other Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 945 | 792 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 38,937 | 45,604 |
Consumer | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 35,680 | |
Consumer | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 9,924 | |
Consumer | Other Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 556 | 1,070 |
Current Loans | 38,381 | 44,534 |
Total Loans | 38,937 | 45,604 |
Consumer | Other Loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 288 | 792 |
Consumer | Other Loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 75 | 184 |
Consumer | Other Loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 193 | 94 |
Consumer | Other Loans | Originated loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 403 | 624 |
Current Loans | 31,950 | 35,056 |
Total Loans | 32,353 | 35,680 |
Consumer | Other Loans | Originated loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 221 | 533 |
Consumer | Other Loans | Originated loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 52 | 57 |
Consumer | Other Loans | Originated loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 130 | 34 |
Consumer | Other Loans | Acquired loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 153 | 446 |
Current Loans | 6,431 | 9,478 |
Total Loans | 6,584 | 9,924 |
Consumer | Other Loans | Acquired loans | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 67 | 259 |
Consumer | Other Loans | Acquired loans | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 23 | 127 |
Consumer | Other Loans | Acquired loans | Greater Than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 63 | $ 60 |
Credit Quality and Allowance_10
Credit Quality and Allowance for Credit Losses - Summary of Information Pertaining to Non Accrual Non Covered Loans (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
With Related Allowance | $ 22,843,000 | |
Without Related Allowance | 0 | |
Total | 22,843,000 | $ 24,386,000 |
Loans greater than 90 days past due and still accruing | 10,000 | 0 |
Acquired | ASC 310-30 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans greater than 90 days past due and still accruing | 2,200,000 | |
ASC Topic 326 Adoption Impact | ASC Topic 326 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,100,000 | |
One- to four-family first mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
With Related Allowance | 4,609,000 | |
Without Related Allowance | 0 | |
Total | 4,609,000 | 3,948,000 |
Home equity loans and lines | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
With Related Allowance | 109,000 | |
Without Related Allowance | 0 | |
Total | 109,000 | 1,244,000 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
With Related Allowance | 15,486,000 | |
Without Related Allowance | 0 | |
Total | 15,486,000 | 13,325,000 |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
With Related Allowance | 515,000 | |
Without Related Allowance | 0 | |
Total | 515,000 | 2,469,000 |
Multi-family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
With Related Allowance | 95,000 | |
Without Related Allowance | 0 | |
Total | 95,000 | 0 |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
With Related Allowance | 1,750,000 | |
Without Related Allowance | 0 | |
Total | 1,750,000 | 3,224,000 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
With Related Allowance | 279,000 | |
Without Related Allowance | 0 | |
Total | $ 279,000 | $ 176,000 |
Credit Quality and Allowance_11
Credit Quality and Allowance for Credit Losses - Summary of Information Pertaining to Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | $ 33,002 | $ 24,866 | $ 17,868 |
Collateral Pledged | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with an allowance recorded, Recorded Investment | 7,848 | ||
Allowance for loan losses | 1,120 | ||
One- to four-family first mortgage | Residential Real Estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with an allowance recorded, Recorded Investment | 0 | ||
Allowance for loan losses | 0 | ||
Home equity loans and lines | Residential Real Estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with an allowance recorded, Recorded Investment | 0 | ||
Allowance for loan losses | 0 | ||
Commercial real estate | Commercial Real Estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with an allowance recorded, Recorded Investment | 7,236 | ||
Allowance for loan losses | 689 | ||
Construction and land | Real Estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with an allowance recorded, Recorded Investment | 0 | ||
Allowance for loan losses | 0 | ||
Multi-family residential | Residential Real Estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with an allowance recorded, Recorded Investment | 0 | ||
Allowance for loan losses | 0 | ||
Commercial and industrial | Equipment | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with an allowance recorded, Recorded Investment | 612 | ||
Allowance for loan losses | 431 | ||
Consumer | Collateral Pledged | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with an allowance recorded, Recorded Investment | 0 | ||
Allowance for loan losses | $ 0 |
Credit Quality and Allowance_12
Credit Quality and Allowance for Credit Losses - Summary of Information Pertaining to TDRs Modified (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020USD ($)contract | Sep. 30, 2019USD ($)contract | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 16 | 9 |
Pre- modification Outstanding Recorded Investment | $ 2,088 | $ 1,024 |
Post- modification Outstanding Recorded Investment | $ 1,425 | $ 1,009 |
One- to four-family first mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 7 | 6 |
Pre- modification Outstanding Recorded Investment | $ 990 | $ 924 |
Post- modification Outstanding Recorded Investment | $ 385 | $ 911 |
Home equity loans and lines | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Pre- modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post- modification Outstanding Recorded Investment | $ 0 | $ 0 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 4 | 1 |
Pre- modification Outstanding Recorded Investment | $ 1,044 | $ 89 |
Post- modification Outstanding Recorded Investment | $ 992 | $ 88 |
Construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Pre- modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post- modification Outstanding Recorded Investment | $ 0 | $ 0 |
Multi-family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Pre- modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post- modification Outstanding Recorded Investment | $ 0 | $ 0 |
Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 3 | 0 |
Pre- modification Outstanding Recorded Investment | $ 41 | $ 0 |
Post- modification Outstanding Recorded Investment | $ 38 | $ 0 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 2 | 2 |
Pre- modification Outstanding Recorded Investment | $ 13 | $ 11 |
Post- modification Outstanding Recorded Investment | $ 10 | $ 10 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities - Additional Information (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Derivative [Line Items] | |
Net derivative liabilities | $ 87 |
Excess of collateral posted over threshold | 493 |
Agreement termination value | 87 |
Cash Flow Hedging | Designated as Hedging | |
Derivative [Line Items] | |
Estimate of additional amounts to be reclassified as additional interest expense | $ 63 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) - Interest Rate Swaps - Designated as Hedging | Sep. 30, 2020USD ($) |
Derivatives, Fair Value [Line Items] | |
Notional Amount | $ 40,000,000 |
Interest rate swaps - variable rate liabilities | 87,000 |
Netting adjustments | 0 |
Less: Cash posted as collateral | (87,000) |
Net derivative amounts | $ 0 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities - Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Details) - Interest Rate Swaps - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain (Loss) Recognized in OCI | $ 60 | $ (110) |
Interest expense | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain (Loss) Reclassified from AOCI into Income | $ (16) | $ (28) |
Fair Value Measurements and D_3
Fair Value Measurements and Disclosures - Summary of Assets Measured on Recurring Basis (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 251,578,000 | $ 257,321,000 |
U.S. agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 123,152,000 | 95,172,000 |
Collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 99,157,000 | 142,451,000 |
Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 20,817,000 | 16,005,000 |
U.S. government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 6,413,000 | 3,693,000 |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 2,039,000 | |
Recurring Basis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 251,578,000 | 257,321,000 |
Derivative liabilities | 87,000 | 0 |
Recurring Basis | U.S. agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 123,152,000 | 95,172,000 |
Recurring Basis | Collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 99,157,000 | 142,451,000 |
Recurring Basis | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 20,817,000 | 16,005,000 |
Recurring Basis | U.S. government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 6,413,000 | 3,693,000 |
Recurring Basis | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 2,039,000 | |
Recurring Basis | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Derivative liabilities | 0 | |
Recurring Basis | Level 1 | U.S. agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Recurring Basis | Level 1 | Collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Recurring Basis | Level 1 | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Recurring Basis | Level 1 | U.S. government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Recurring Basis | Level 1 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | |
Recurring Basis | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 251,578,000 | 257,321,000 |
Derivative liabilities | 87,000 | |
Recurring Basis | Level 2 | U.S. agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 123,152,000 | 95,172,000 |
Recurring Basis | Level 2 | Collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 99,157,000 | 142,451,000 |
Recurring Basis | Level 2 | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 20,817,000 | 16,005,000 |
Recurring Basis | Level 2 | U.S. government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 6,413,000 | 3,693,000 |
Recurring Basis | Level 2 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 2,039,000 | |
Recurring Basis | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Derivative liabilities | 0 | |
Recurring Basis | Level 3 | U.S. agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Recurring Basis | Level 3 | Collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Recurring Basis | Level 3 | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Recurring Basis | Level 3 | U.S. government agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | $ 0 |
Recurring Basis | Level 3 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 0 |
Fair Value Measurements and D_4
Fair Value Measurements and Disclosures - Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis (Detail) - Nonrecurring Basis - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Individually evaluated for impairment | $ 6,728 | $ 7,365 |
Foreclosed assets and ORE | 1,985 | 4,156 |
Total | 8,713 | 11,521 |
Level 1 | ||
Assets | ||
Individually evaluated for impairment | 0 | 0 |
Foreclosed assets and ORE | 0 | 0 |
Total | 0 | 0 |
Level 2 | ||
Assets | ||
Individually evaluated for impairment | 0 | 0 |
Foreclosed assets and ORE | 0 | 0 |
Total | 0 | 0 |
Level 3 | ||
Assets | ||
Individually evaluated for impairment | 6,728 | 7,365 |
Foreclosed assets and ORE | 1,985 | 4,156 |
Total | $ 8,713 | $ 11,521 |
Fair Value Measurements and D_5
Fair Value Measurements and Disclosures - Schedule of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Nonrecurring Basis | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Foreclosed assets and ORE | $ 1,985 | $ 4,156 |
Level 3 | Minimum | Costs to sell | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Impaired loans - Weighted average / Range of discounts (percent) | 3.00% | 0.00% |
Foreclosed assets and ORE - Weighted average / Range of discounts (percent) | 6.00% | 6.00% |
Level 3 | Maximum | Costs to sell | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Impaired loans - Weighted average / Range of discounts (percent) | 80.00% | 84.00% |
Foreclosed assets and ORE - Weighted average / Range of discounts (percent) | 52.00% | 61.00% |
Level 3 | Weighted Average | Costs to sell | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Impaired loans - Weighted average / Range of discounts (percent) | 14.00% | 13.00% |
Foreclosed assets and ORE - Weighted average / Range of discounts (percent) | 12.00% | 14.00% |
Level 3 | Nonrecurring Basis | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Impaired loans | $ 6,728 | $ 7,365 |
Foreclosed assets and ORE | $ 1,985 | $ 4,156 |
Fair Value Measurements and D_6
Fair Value Measurements and Disclosures - Summary of Fair Values of Company's Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financial Assets | ||
Investment securities available for sale | $ 251,578 | $ 257,321 |
Investment securities held to maturity | 3,008 | 7,194 |
Carrying Amount | ||
Financial Assets | ||
Cash and cash equivalents | 185,836 | 39,847 |
Interest-bearing deposits in banks | 349 | 449 |
Investment securities available for sale | 251,578 | 257,321 |
Investment securities held to maturity | 2,942 | 7,149 |
Mortgage loans held for sale | 21,045 | 6,990 |
Loans, net | 1,922,295 | 1,696,493 |
Cash surrender value of BOLI | 40,184 | 39,466 |
Financial Liabilities | ||
Deposits | 2,207,494 | 1,820,975 |
Other borrowings | 5,539 | 5,539 |
Long-term FHLB advances | 31,445 | 40,620 |
Derivative liabilities | 87 | |
Fair Value | ||
Financial Assets | ||
Cash and cash equivalents | 185,836 | 39,847 |
Interest-bearing deposits in banks | 349 | 449 |
Investment securities available for sale | 251,578 | 257,321 |
Investment securities held to maturity | 3,008 | 7,194 |
Mortgage loans held for sale | 21,045 | 6,990 |
Loans, net | 1,945,125 | 1,690,308 |
Cash surrender value of BOLI | 40,184 | 39,466 |
Financial Liabilities | ||
Deposits | 2,210,331 | 1,821,868 |
Other borrowings | 6,233 | 5,895 |
Long-term FHLB advances | 32,399 | 40,580 |
Derivative liabilities | 87 | |
Level 1 | Fair Value | ||
Financial Assets | ||
Cash and cash equivalents | 185,836 | 39,847 |
Interest-bearing deposits in banks | 349 | 449 |
Investment securities available for sale | 0 | 0 |
Investment securities held to maturity | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Cash surrender value of BOLI | 40,184 | 39,466 |
Financial Liabilities | ||
Deposits | 0 | 0 |
Other borrowings | 0 | 0 |
Long-term FHLB advances | 0 | 0 |
Derivative liabilities | 0 | |
Level 2 | Fair Value | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Interest-bearing deposits in banks | 0 | 0 |
Investment securities available for sale | 251,578 | 257,321 |
Investment securities held to maturity | 3,008 | 7,194 |
Mortgage loans held for sale | 21,045 | 6,990 |
Loans, net | 1,938,397 | 1,682,943 |
Cash surrender value of BOLI | 0 | 0 |
Financial Liabilities | ||
Deposits | 2,210,331 | 1,821,868 |
Other borrowings | 6,233 | 5,895 |
Long-term FHLB advances | 32,399 | 40,580 |
Derivative liabilities | 87 | |
Level 3 | Fair Value | ||
Financial Assets | ||
Cash and cash equivalents | 0 | 0 |
Interest-bearing deposits in banks | 0 | 0 |
Investment securities available for sale | 0 | 0 |
Investment securities held to maturity | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Loans, net | 6,728 | 7,365 |
Cash surrender value of BOLI | 0 | 0 |
Financial Liabilities | ||
Deposits | 0 | 0 |
Other borrowings | 0 | 0 |
Long-term FHLB advances | 0 | $ 0 |
Derivative liabilities | $ 0 |