Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Sep. 27, 2017 | Dec. 31, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jun. 30, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | PCSB | ||
Entity Registrant Name | PCSB Financial Corp | ||
Entity Central Index Key | 1,691,337 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Public Float | $ 0 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 18,165,110 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
ASSETS | ||
Cash and due from banks | $ 59,115 | $ 36,258 |
Federal funds sold | 1,371 | 5,320 |
Cash and cash equivalents | 60,486 | 41,578 |
Investment Securities: | ||
Held to maturity investment securities, at amortized cost (fair value of $383,588 and $273,317, respectively) | 383,551 | 270,679 |
Available for sale securities, at fair value | 111,889 | 112,351 |
Total securities | 495,440 | 383,030 |
Loans receivable, net of allowance for loan losses of $5,150 and $4,042, respectively | 809,648 | 782,336 |
Accrued interest receivable | 3,693 | 3,361 |
Federal Home Loan Bank stock | 3,132 | 2,047 |
Premises and equipment, net | 12,959 | 10,774 |
Deferred tax asset, net | 4,770 | 6,164 |
Foreclosed real estate | 977 | 905 |
Bank-owned life insurance | 23,179 | 22,557 |
Goodwill | 6,106 | 6,106 |
Other intangible assets | 559 | 702 |
Other assets | 5,509 | 2,511 |
Total assets | 1,426,458 | 1,262,071 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Interest bearing deposits | 952,109 | 990,032 |
Non-interest bearing deposits | 136,352 | 122,663 |
Total deposits | 1,088,461 | 1,112,695 |
Mortgage escrow funds | 8,084 | 7,023 |
Advances from Federal Home Loan Bank | 42,598 | 20,081 |
Other liabilities | 7,469 | 12,323 |
Total liabilities | 1,146,612 | 1,152,122 |
Commitment and Contingencies | ||
Preferred Stock ($0.01 par value, 10,000,000 shares authorized, no shares issued or outstanding as of June 30, 2017 and June 30, 2016, respectively) | ||
Common Stock ($0.01 par value, 200,000,000 shares authorized, 18,165,110 shares issued and outstanding as of June 30, 2017, no shares issued or outstanding as of June 30, 2016) | 182 | |
Additional Paid in Capital | 177,993 | |
Retained earnings | 121,148 | 117,919 |
Unallocated common stock of Employee Stock Ownership Plan ("ESOP") | (14,262) | |
Accumulated other comprehensive loss, net of income taxes | (5,215) | (7,970) |
Total shareholders’ equity | 279,846 | 109,949 |
Total liabilities and shareholders’ equity | $ 1,426,458 | $ 1,262,071 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Statement Of Financial Position [Abstract] | ||
Held to maturity investment securities, fair value | $ 383,588 | $ 273,317 |
Allowance for loan losses | $ 5,150 | $ 4,042 |
Preferred Stock, par value | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Common Stock, par value | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 200,000,000 | 200,000,000 |
Common Stock, shares, issued | 18,165,110 | 0 |
Common Stock, shares outstanding | 18,165,110 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest and dividend income | |||
Loans | $ 33,664,000 | $ 32,832,000 | $ 23,245,000 |
Investment securities | 6,661,000 | 5,897,000 | 5,360,000 |
Federal funds and other | 633,000 | 315,000 | 222,000 |
Total interest and dividend income | 40,958,000 | 39,044,000 | 28,827,000 |
Interest expense | |||
Deposits | 5,083,000 | 4,613,000 | 3,812,000 |
FHLB advances | 210,000 | 199,000 | 72,000 |
Total interest expense | 5,293,000 | 4,812,000 | 3,884,000 |
Net interest income | 35,665,000 | 34,232,000 | 24,943,000 |
Provision for loan losses | 823,000 | 1,859,000 | 1,326,000 |
Net interest income after provision for loan losses | 34,842,000 | 32,373,000 | 23,617,000 |
Noninterest income | |||
Fees and service charges | 1,178,000 | 1,053,000 | 955,000 |
Bank-owned life insurance | 622,000 | 458,000 | 297,000 |
Settlement on acquired loan | 1,615,000 | ||
Other | 669,000 | 440,000 | 315,000 |
Total noninterest income | 4,084,000 | 1,951,000 | 1,567,000 |
Noninterest expense | |||
Salaries and employee benefits | 16,901,000 | 16,961,000 | 13,666,000 |
Occupancy and equipment | 5,864,000 | 5,122,000 | 4,018,000 |
Charitable foundation contribution | 5,000,000 | ||
Professional fees | 1,308,000 | 1,644,000 | 976,000 |
FDIC assessment | 558,000 | 888,000 | 709,000 |
Postage, printing, stationary and supplies | 547,000 | 681,000 | 460,000 |
Advertising | 529,000 | 388,000 | 332,000 |
Amortization of intangible assets | 143,000 | 158,000 | 27,000 |
Merger and acquisition-related expenses | 790,000 | 1,147,000 | |
Other operating expenses | 3,581,000 | 3,633,000 | 2,639,000 |
Total noninterest expense | 34,431,000 | 30,265,000 | 23,974,000 |
Net income before income tax expense | 4,495,000 | 4,059,000 | 1,210,000 |
Income tax expense | 1,266,000 | 1,133,000 | 702,000 |
Net income | $ 3,229,000 | $ 2,926,000 | $ 508,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net Income | $ 3,229 | $ 2,926 | $ 508 |
Other comprehensive income (loss), net of tax: | |||
Change in fair value of available for sale securities | (486) | 200 | (95) |
Changes in funded status of defined benefit plan and other post-retirement benefit plans | 3,241 | (3,448) | (1,781) |
Other comprehensive income (loss) | 2,755 | (3,248) | (1,876) |
Total comprehensive income (loss) | $ 5,984 | $ (322) | $ (1,368) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | PCSB Foundation [Member] | Common Stock [Member] | Common Stock [Member]PCSB Foundation [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member]PCSB Foundation [Member] | Unallocated Common Stock of ESOP [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Jun. 30, 2014 | $ 111,639 | $ 114,485 | $ (2,846) | ||||||
Net Income | 508 | 508 | |||||||
Other comprehensive income (loss) | (1,876) | (1,876) | |||||||
Ending Balance at Jun. 30, 2015 | 110,271 | 114,993 | (4,722) | ||||||
Net Income | 2,926 | 2,926 | |||||||
Other comprehensive income (loss) | (3,248) | (3,248) | |||||||
Ending Balance at Jun. 30, 2016 | 109,949 | 117,919 | (7,970) | ||||||
Net Income | 3,229 | 3,229 | |||||||
Other comprehensive income (loss) | 2,755 | 2,755 | |||||||
Issuance of common stock, net of issuance costs | 174,604 | $ 179 | $ 174,425 | ||||||
Issuance of common stock, net of issuance costs (in shares) | 17,826,408 | ||||||||
Issuance of common stock to PCSB Foundation | $ 3,387 | $ 3 | $ 3,384 | ||||||
Issuance of common stock to PCSB Foundation (in shares) | 338,702 | ||||||||
Stock purchased by the ESOP | (14,532) | $ (14,532) | |||||||
ESOP shares committed to be released (26,975 shares) | 454 | 184 | 270 | ||||||
Ending Balance at Jun. 30, 2017 | $ 279,846 | $ 182 | $ 177,993 | $ (14,262) | $ 121,148 | $ (5,215) | |||
Ending Balance (in shares) at Jun. 30, 2017 | 18,165,110 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) | 12 Months Ended |
Jun. 30, 2017shares | |
Statement Of Stockholders Equity [Abstract] | |
Stock purchased by the ESOP (in shares) | 1,453,209 |
ESOP shares committed to be released (in shares) | 26,975 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
OPERATING ACTIVITIES | |||
Net income | $ 3,229,000 | $ 2,926,000 | $ 508,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan loss | 823,000 | 1,859,000 | 1,326,000 |
Depreciation and amortization | 1,427,000 | 1,265,000 | 752,000 |
Amortization of net premiums on securities and net deferred loan origination costs | 1,002,000 | 943,000 | 971,000 |
Deferred income tax (benefit) expense, net of valuation reserves | (26,000) | 1,299,000 | 586,000 |
Net (increase) decrease in accrued interest receivable | (332,000) | (127,000) | 45,000 |
Net gain on sale of foreclosed real estate | (99,000) | (9,000) | (1,000) |
Write-downs on foreclosed real estate | 30,000 | 87,000 | |
Stock contribution to PCSB Community Foundation | 3,387,000 | ||
ESOP Compensation | 454,000 | ||
Earnings from cash surrender value of BOLI | (622,000) | (458,000) | (297,000) |
Net accretion of purchase account adjustments | (820,000) | (1,352,000) | (132,000) |
Other adjustments, principally net changes in other assets and liabilities | (588,000) | (431,000) | (2,203,000) |
Net cash provided by operating activities | 7,835,000 | 5,945,000 | 1,642,000 |
Purchases of investment securities: | |||
Held to maturity | (195,566,000) | (112,896,000) | (94,178,000) |
Available for sale | (23,314,000) | (56,420,000) | (25,952,000) |
Proceeds from maturities and calls of securities held to maturity | 72,152,000 | 107,656,000 | 97,971,000 |
Proceeds from maturities, calls and sales of securities available for sale | 32,750,000 | 33,058,000 | 44,996,000 |
Disbursement for loan originations, net of principal repayments | (1,131,000) | (14,314,000) | (3,221,000) |
Purchase of loans | (30,926,000) | (43,981,000) | (3,638,000) |
Acquisition, net cash paid | (20,649,000) | ||
Net (purchase) redemption of FHLB stock | (1,085,000) | (328,000) | 1,167,000 |
Purchase of bank premises and equipment | (3,469,000) | (3,902,000) | (549,000) |
Purchase of BOLI | (11,275,000) | ||
Proceeds from sale of foreclosed real estate | 2,121,000 | 1,030,000 | 183,000 |
Net cash (used in) investing activities | (148,468,000) | (101,372,000) | (3,870,000) |
FINANCING ACTIVITIES | |||
Net (decrease) increase in deposits | (24,109,000) | 52,778,000 | (4,274,000) |
Net increase (decrease) in short-term FHLB advances | 23,636,000 | (5,019,000) | (31,050,000) |
Proceeds from long-term FHLB advances | 15,000,000 | 20,100,000 | 9,000,000 |
Repayment of long-term FHLB advances | (16,119,000) | (9,000,000) | |
Net increase in mortgage escrow funds | 1,061,000 | 385,000 | 1,063,000 |
Issuance of common stock, net of ESOP stock purchase | 160,072,000 | ||
Net cash provided by (used in) financing activities | 159,541,000 | 59,244,000 | (25,261,000) |
Net increase (decrease) in cash and cash equivalents | 18,908,000 | (36,183,000) | (27,489,000) |
Cash and cash equivalents: | |||
Cash and cash equivalents at beginning of period | 41,578,000 | 77,761,000 | 105,250,000 |
Cash and cash equivalents at end of period | 60,486,000 | 41,578,000 | 77,761,000 |
Cash paid for: | |||
Interest | 5,293,000 | 4,814,000 | 3,832,000 |
Income taxes (net of refunds) | 1,100,000 | (351,000) | 424,000 |
Loans transferred to foreclosed real estate and other assets | $ 2,075,000 | $ 1,575,000 | 243,000 |
Acquisition of noncash assets and liabilities: | |||
Assets acquired | 264,101,000 | ||
Liabilities acquired | $ 249,295,000 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Note 1. Basis of Presentation Nature of Operations PCSB Bank is a community-oriented financial institution that provides financial services to individuals and businesses within its market area of Putnam, Southern Dutchess, Rockland and Westchester Counties in New York. The Bank is a state-chartered stock savings bank and its deposits are insured up to applicable limits by the Deposit Insurance Fund of the Federal Deposit Insurance Corporation (“FDIC”). The Bank’s primary regulators are the FDIC and the New York State Department of Financial Services. Merger with CMS Bancorp Basis of Presentation Use of Estimates Cash Flows Securities Securities available for sale are reported at fair value. Unrealized gains and losses on securities available for sale are excluded from earnings and reported as accumulated other comprehensive income or loss (a separate component of equity), net of related income taxes. Premiums and discounts on debt securities are amortized to interest income on a level-yield basis over the terms of the securities. Realized gains and losses on sales of securities are determined based on the amortized cost of the specific securities sold. Management evaluates securities for other-than-temporary impairment (OTTI) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs, unamortized purchase premiums and discounts, and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Interest income on loans is discontinued at the time the loan is ninety days delinquent unless the loan is well secured and in process of collection. Loan purchase premiums and discounts are amortized over the contractual term of the loans Loan origination fees and certain direct loan origination costs are deferred and amortized to interest income as an adjustment to yield over the contractual term of the loans. Unamortized fees and costs on prepaid loans are recognized in interest income at the time of prepayment. Purchased Credit Impaired Loans Such purchased credit impaired loans are accounted for individually or aggregated into pools of loans based on common risk characteristics, such as credit score, loan type, and date of origination. The Company estimates the amount and timing of expected cash flows for each loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s or pool’s contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan or pool, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded as a provision for loan losses. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. Allowance for Loan Losses Establishing the allowance for loan losses involves significant management judgments utilizing the best information available at the time. Those judgments are subject to further review by the Bank’s regulators. Future adjustments to the allowance for loan losses may be necessary based on changes in economic and real estate market conditions, further information obtained regarding known problem loans, the identification of additional problem loans, and other factors. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for loans evaluated under the Company’s normal loan review procedures. Loans evaluated on an individual basis for impairment may be measured by the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. The Company’s impaired loans are generally collateral dependent. If the fair value of an impaired loan is less than its recorded investment, an impairment allowance is recognized and included in the allowance for loan losses. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over a thirty-six month period, with heaviest weight placed on the most recent periods. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: lending policies, underwriting, charge-off and collection procedures; national and local economic trends and conditions; trends in nature and volume of the loan portfolio; experience, ability, and depth of lending management and other relevant staff; trends in delinquencies, classified loans and restructurings; quality of the loan review system and Board oversight; value of underlying collateral for collateral dependent loans; existence and effect of concentrations and levels; and effects of external factors, such as competition, legal and regulatory factors. The following portfolio segments have been identified: residential, other loans secured, commercial mortgage, construction, commercial, home equity and consumer and installment loans. The risk characteristics of each of the identified portfolio segments are as follows: Residential Loans – residential loans are generally made on the basis of the borrower’s ability to make repayment from his or her employment income or other income, and are secured by real property whose value tends to be more easily ascertainable. Repayment of residential loans is subject to adverse employment conditions in the local economy leading to increased default rate and decreased market values from oversupply in a geographic area. In general, these loans depend on the borrower’s continuing financial stability and, therefore, are likely to be adversely affected by various factors, including job loss, divorce, illness, or personal bankruptcy. Furthermore, the application of various federal and state laws, including federal and state bankruptcy and insolvency laws, may limit the amount that can be recovered on such loans. Other Loans Secured – other loans secured by real estate are commercial loans extended for business purposes where a lien is recorded on real estate as collateral in addition to the business assets. Commercial loans are generally of higher risk than other types of loans as repayment is dependent on the borrower’s ability through business activities to generate sufficient cash flow to repay the loan. However, these loans carry less risk than commercial loans as the real estate collateral provides an additional source of repayment of the debt through the sale of the real estate in the event business conditions erode the borrowers’ capability to repay the debt through cash flow. In addition, the sale of the collateral property would require that any sales proceeds be applied to repay the Company’s loan in order to satisfy the recorded lien. Commercial Mortgage – commercial and multifamily real estate loans are secured by multifamily and nonresidential real estate and generally have larger balances and involve a greater degree of risk than residential real estate loans. Repayment of commercial and multifamily real estate loans depend on the global cash flow analysis of the borrower and the net operating income of the property, the borrower’s expertise, credit history and profitability, and the value of the underlying property. Of primary concern in commercial real estate lending is the borrower’s creditworthiness and the cash flow generated from the property securing the loan. As a result, repayment of such loans may be subject, to a greater extent than residential real estate loans, to adverse conditions in the real estate market or the economy. Commercial and multifamily real estate is also subject to adverse market conditions that cause a decrease in market value or lease rates, obsolescence in location or function and market conditions associated with over supply of units in a specific region. Construction – construction financing is generally considered to involve a higher degree of risk of loss than long-term financing on improved, occupied real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the property’s value at completion of construction and the estimated cost of construction. During the construction phase, a number of factors could result in delays and cost overruns. If the estimate of construction costs proves to be inaccurate, additional funds may be required to be advanced in excess of the amount originally committed to permit completion of the building. If the estimate of value proves to be inaccurate, the value of the building may be insufficient to assure full repayment if liquidation is required. If foreclosure is required on a building before or at completion due to a default, there can be no assurance that all of the unpaid balance of, and accrued interest on, the loan as well as related foreclosure and holding costs will be recovered. Commercial – commercial loans are generally of higher risk than other types of loans and typically are made on the basis of the borrower’s ability to make repayment from the cash flow of the borrower’s business. As a result, the availability of funds for the repayment of commercial loans may depend substantially on the success of the business itself. Furthermore, any collateral securing such loans may depreciate over time, may be difficult to appraise, and may fluctuate in value. Home Equity Lines of Credit – home equity lines of credit consist of both fixed and variable interest rate products. These are primarily home equity loans to residential mortgage customers within the footprint of the primary lending territory. These loans generally will not exceed a combined (i.e., first and second mortgage) loan-to-value ratio of 75 percent at origination. Consumer and Installment Loans – consumer and other loans generally have shorter terms and higher interest rates than one-to-four family mortgage loans. In addition, consumer and other loans expand the products and services we offer to better meet the financial services needs of our customers. Consumer and other loans generally involve greater credit risk than residential mortgage loans because of the difference in the underlying collateral. Repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance because of the greater likelihood of damage to, loss of, or depreciation in the underlying collateral. The remaining deficiency often does not warrant further substantial collection efforts against the borrower beyond obtaining a deficiency judgment. In addition, consumer loan collections depend on the borrower’s personal financial stability. Furthermore, the application of various federal and state laws, including federal and state bankruptcy and insolvency laws, may limit the amount that can be recovered on such loans. Foreclosed Real Estate Federal Home Loan Bank (FHLB) Stock Premises and Equipment Bank Owned Life Insurance (BOLI) Goodwill and Other Intangible Assets Other intangible assets, consisting of a core deposit intangible asset arising from a whole bank acquisition, are amortized on an accelerated method over their estimated useful lives of 10 years. Loan Commitments and Related Financial Instruments Income Taxes Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in future years. The effect on deferred tax assets and liabilities of a change in tax laws or rates is recognized in the period that includes the enactment date of the change. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Employee Benefit Plans: Employee 401(k) expense is the amount of matching contributions. Pension expense is the net of service and interest cost, return on plan assets and amortization of gains and losses not immediately recognized. SERP expense is the net of interest cost and service cost, which allocates the benefits over years of service. The Holding Company and Bank maintain the PCSB Bank Employee Stock Ownership Plan (the “ESOP”). Compensation expense related to the ESOP is recorded during the period in which the shares become committed to be released to participants. The compensation expense is measured based upon the average fair market value of the stock during the period, and, to the extent that the fair value of the shares committed to be released differs from the original cost of such shares, the difference is recorded as an adjustment to additional paid-in capital. Loss Contingencies Fair Value of Financial Instruments Segment Reporting Reclassifications Earnings per share |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Jun. 30, 2017 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 2 . Recent Accounting Pronouncements The pronouncements discussed below are not intended to be an all-inclusive list, but rather only those pronouncements that could potentially have an impact on our financial position, results of operations or disclosures. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 “Revenue from Contracts with Customers.” The amendments in ASU 2014-09 provide a comprehensive framework for addressing revenue recognition issues that can be applied to all contracts with customers. While the guidance in ASU 2014-09 supersedes most existing industry-specific revenue recognition accounting guidance, much of PCSB Bank’s revenue comes from financial instruments such as debt securities and loans that are outside the scope of the guidance. The amendments in ASU 2014-09 also include improved disclosures to enable users of financial statements to better understand the nature, amount, timing and uncertainty of revenue that is recognized. For public entities, ASU 2014-09, as amended, is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted for interim and annual reporting periods beginning after December 15, 2016. ASU 2014-09 is not expected to have a material impact on the Company’s consolidated financial position, results of operations or disclosures. In January 2016, the FASB issued ASU 2016-01 “Financial Instruments – Overall.” The amendments in ASU 2016-01 are intended to improve the recognition, measurement, presentation and disclosure of financial assets and liabilities to provide users of financial statements with information that is more useful for decision-making purposes. Among other changes, ASU 2016-01 would require equity securities to be measured at fair value with changes in fair value recognized through net income, but would allow equity securities that do not have readily determinable fair values to be re-measured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments would simplify the impairment assessment of such equity securities and would require enhanced disclosure about these investments. ASU 2016-01 would also require separate presentation of financial assets and liabilities by measurement category and type of instrument, such as securities or loans, on the balance sheet or in the notes, and would eliminate certain other disclosures relating to the methods and assumptions used to estimate fair value. For public entities, the amendments in ASU 2016-01 are effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is not permitted. ASU 2016-01 is not expected to have a material impact on the Company’s consolidated financial position, results of operations or disclosures. In February 2016, the FASB issued ASU 2016-02 “Leases.” ASU 2016-02 affects any entity that enters into a lease and is intended to increase the transparency and comparability of financial statements among organizations. The ASU requires, among other changes, a lessee to recognize on its balance sheet a lease asset and a lease liability for those leases previously classified as operating leases. The lease asset would represent the right to use the underlying asset for the lease term and the lease liability would represent the discounted value of the required lease payments to the lessor. The ASU would also require entities to disclose key information about leasing arrangements. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. Management is currently evaluating the impact that ASU 2016-02 will have on the Company’s consolidated financial position, results of operations and disclosures. In June 2016, the FASB issued ASU 2016-13 “Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 affects entities holding financial assets that are not accounted for at fair value through net income, including loans, debt securities, and other financial assets. The ASU requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected by recording an allowance for current expected credit losses. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption is permitted beginning after December 15, 2018, including interim periods within those fiscal years. Management is currently evaluating the impact that ASU 2016-13 will have on the Company’s consolidated financial position, results of operations and disclosures. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): In March 2017, the FASB issued ASU 2017-08 "Receivables - Non-Refundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities." The ASU requires premiums on callable debt securities to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. ASU 2017-08 is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption is permitted beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2017-08 will not have a material impact on the Company’s consolidated financial position, results of operations or disclosures. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Shareholders' Equity | Note 3. Shareholders' Equity The Company completed its initial public offering (“IPO”) on April 20, 2017, in connection with the Bank’s mutual-to-stock conversion, resulting in gross proceeds of $178.3 million, through the sale of 17,826,408 shares, including 1,453,209 shares sold to the PCSB Bank Employee Stock Ownership Plan (ESOP), at the offering price of $10.00 per share. In addition, the Company also contributed 338,702 shares of its common stock and $1.6 million in cash to the PCSB Community Foundation. Expenses related to the offering were approximately $3.7 million, which resulted in net proceeds of approximately $174.6 million prior to the contribution to PCSB Community Foundation. The Company lent approximately $14.5 million to the ESOP and retained approximately $87.3 million of the net proceeds of the offering prior to the contribution to PCSB Community Foundation. The remainder of the net proceeds was contributed to the Bank. Prior to the IPO, the Company had no outstanding shares. |
Investment Securities
Investment Securities | 12 Months Ended |
Jun. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 4 . Investment Securities The amortized cost, gross unrealized/unrecognized gains and losses and fair value of available for sale and held to maturity securities at June 30, 2017 and June 30, 2016 were as follows: June 30, 2017 Amortized Gross Fair Cost Gains Losses Value (in thousands) Available for sale: U.S. Government and agency obligations $ 63,630 $ 31 $ (216 ) $ 63,445 Corporate and other debt securities 8,460 58 (36 ) 8,482 Mortgage-backed securities – residential 39,710 363 (143 ) 39,930 Equity securities 32 — — 32 Total available for sale $ 111,832 $ 452 $ (395 ) $ 111,889 Held to maturity: U.S. Government and agency obligations $ 155,559 $ 23 $ (574 ) $ 155,008 Corporate and other debt securities 999 — — 999 Mortgage-backed securities – residential 143,452 828 (497 ) 143,783 Mortgage-backed securities – collateralized mortgage obligations 59,476 146 (235 ) 59,387 Mortgage-backed securities – commercial 24,065 412 (66 ) 24,411 Total held to maturity $ 383,551 $ 1,409 $ (1,372 ) $ 383,588 June 30, 2016 Amortized Gross Fair Cost Gains Losses Value (in thousands) Available for sale: U.S. Government and agency obligations $ 65,953 $ 204 $ (25 ) $ 66,132 Corporate and other debt securities 8,514 132 — 8,646 Mortgage-backed securities – residential 37,043 542 (61 ) 37,524 Equity securities 49 — — 49 Total available for sale $ 111,559 $ 878 $ (86 ) $ 112,351 Held to maturity: U.S. Government and agency obligations $ 145,896 $ 357 $ (51 ) $ 146,202 Mortgage-backed securities – residential 72,842 1,342 (45 ) 74,139 Mortgage-backed securities – collateralized mortgage obligations 30,268 350 (38 ) 30,580 Mortgage-backed securities – commercial 21,673 723 — 22,396 Total held to maturity $ 270,679 $ 2,772 $ (134 ) $ 273,317 There were no sales of or realized gains or losses on investment securities for the years ended June 30, 2017 or 2016. The Company sold $23.7 million of investment securities in the year ended June 30, 2015 and realized no gain or loss on sale. The following table presents the fair value and carrying amount of debt securities at June 30, 2017 and June 30, 2016, by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Held to maturity Available for sale Carrying Fair Amortized Fair Amount Value Cost Value (in thousands) June 30, 2017: 1 year or less $ 50,486 $ 50,413 $ 16,005 $ 15,988 1 to 5 years 106,073 105,594 54,085 53,975 5 to 10 years — — 2,000 1,964 Mortgage-backed securities 226,992 227,581 39,710 39,930 Total $ 383,551 $ 383,588 $ 111,800 $ 111,857 Held to maturity Available for sale Carrying Fair Amortized Fair Amount Value Cost Value (in thousands) June 30, 2016: 1 year or less $ 22,005 $ 22,033 $ 19,490 $ 19,495 1 to 5 years 118,946 119,120 46,902 47,149 5 to 10 years 632 637 5,127 5,187 Due after 10 years 4,313 4,412 2,948 2,947 Mortgage-backed securities 124,783 127,115 37,043 37,524 Total $ 270,679 $ 273,317 $ 111,510 $ 112,302 Securities pledged had carrying amounts of $95.5 million and $93.1 million at June 30, 2017 and June 30, 2016, respectively, and were pledged principally to secure FHLB advances and public deposits. The following table provides information regarding investment securities with unrealized/unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position at June 30, 2017 and June 30, 2016: June 30, 2017 Less than 12 months Greater than 12 months Total Unrealized/ Unrealized/ Unrealized/ Fair Unrecognized Fair Unrecognized Fair Unrecognized Value Loss Value Loss Value Loss (in thousands) Available for sale: U.S. Government and agency obligations $ 41,900 $ (200 ) $ 3,993 $ (16 ) $ 45,893 $ (216 ) Corporate and other debt securities 1,964 (36 ) — — 1,964 (36 ) Mortgage-backed securities – residential 18,861 (111 ) 3,200 (32 ) 22,061 (143 ) Total available for sale $ 62,725 $ (347 ) $ 7,193 $ (48 ) $ 69,918 $ (395 ) Held to maturity: U.S. Government and agency obligations $ 113,511 $ (531 ) $ 5,981 $ (43 ) $ 119,492 $ (574 ) Corporate and other debt securities 999 — — — 999 — Mortgage-backed securities – residential 39,754 (467 ) 1,626 (30 ) 41,380 (497 ) Mortgage-backed securities – collateralized mortgage obligations 26,622 (141 ) 4,444 (94 ) 31,066 (235 ) Mortgage-backed securities – commercial 9,092 (66 ) — — 9,092 (66 ) Total held to maturity $ 189,978 $ (1,205 ) $ 12,051 $ (167 ) $ 202,029 $ (1,372 ) June 30, 2016 Less than 12 months Greater than 12 months Total Unrealized/ Unrealized/ Unrealized/ Fair Unrecognized Fair Unrecognized Fair Unrecognized Value Loss Value Loss Value Loss (in thousands) Available for sale: U.S. Government and agency obligations $ 19,462 $ (22 ) $ 1,007 $ (3 ) $ 20,469 $ (25 ) Mortgage-backed securities – residential 11,912 (52 ) 676 (9 ) 12,588 (61 ) Total available for sale $ 31,374 $ (74 ) $ 1,683 $ (12 ) $ 33,057 $ (86 ) Held to maturity: U.S. Government and agency obligations $ 22,000 $ (44 ) $ 7,993 $ (7 ) $ 29,993 $ (51 ) Mortgage-backed securities – residential 6,886 (19 ) 4,895 (26 ) 11,781 (45 ) Mortgage-backed securities – collateralized mortgage obligation 4,420 (20 ) 1,333 (18 ) 5,753 (38 ) Total held to maturity $ 33,306 $ (83 ) $ 14,221 $ (51 ) $ 47,527 $(134) As of June 30, 2017, the Company’s security portfolio consisted of $495.4 million in securities, of which 156 securities with a fair value of $271.9 million were in an unrealized loss position. The majority of unrealized losses are related to the Company’s U.S. Government and agency obligations and mortgage-backed securities. As of June 30, 2016, the Company’s security portfolio consisted of $383.0 million in securities, of which 52 securities with a fair value of $80.6 million were in an unrealized loss position. The majority of unrealized losses are related to the Company’s U.S. Government and agency obligations and mortgage-backed securities. There were no securities for which the Company believes it is not probable that it will collect all amounts due according to the contractual terms of the security as of June 30, 2017 and June 30, 2016. Management believes the unrealized losses are primarily a result of changing interest rates. The Company has determined that it does not intend to sell, or it is not more likely than not that it will be required to sell, its securities that are in an unrealized loss position prior to the recovery of its amortized cost basis. Therefore, the Company did not consider any securities to be other-than-temporarily impaired as of June 30, 2017 and June 30, 2016. |
Loans
Loans | 12 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans | Note 5. Loans Loans receivable are summarized as follows at June 30 (in thousands): 2017 2016 Mortgage loans: Residential $ 217,778 $ 226,073 Commercial 437,651 385,827 Construction 22,404 25,050 Net deferred loan origination costs 397 319 Total mortgages 678,230 637,269 Commercial and consumer loans: Commercial loans 33,297 40,607 Other loans secured 46,802 49,993 Home equity lines of credit 41,927 41,180 Consumer and installment loans 13,765 16,476 Net deferred loan origination costs 777 853 Total commercial and consumer loans 136,568 149,109 Total loans receivable 814,798 786,378 Allowance for loan losses (5,150 ) (4,042 ) Loans receivable, net $ 809,648 $ 782,336 The following tables present the activity in the allowance for loan losses by portfolio segment for the years ended June 30, 2017, 2016 and 2015 (in thousands): For the year ended June 30, 2017 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 237 $ 290 $ (237 ) $ 70 $ 360 Commercial 2,149 421 — 19 2,589 Construction 269 989 (108 ) — 1,150 Commercial loans 604 (1,387 ) — 1,223 440 Other loans secured 397 195 (325 ) 98 365 Home equity lines of credit 73 3 — — 76 Consumer and installment loans 313 243 (416 ) 4 144 Acquired: Residential — 64 (38 ) — 26 Commercial loans — 2 (2 ) — — Consumer and installment loans — 3 (3 ) — — Total $ 4,042 $ 823 $ (1,129 ) $ 1,414 $ 5,150 For the year ended June 30, 2016 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 193 $ 444 $ (400 ) $ — $ 237 Commercial 1,766 215 (10 ) 178 2,149 Construction 100 (23 ) — 192 269 Commercial loans 1,266 1,006 (1,668 ) — 604 Other loans secured 416 (19 ) — — 397 Home equity lines of credit 69 28 (24 ) — 73 Consumer and installment loans 111 208 (31 ) 25 313 Total $ 3,921 $ 1,859 $ (2,133 ) $ 395 $ 4,042 For the year ended June 30, 2015 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 219 $ 144 $ (175 ) $ 5 $ 193 Commercial 1,622 497 (361 ) 8 1,766 Construction 828 (401 ) (327 ) — 100 Commercial loans 516 1,221 (1,181 ) 710 1,266 Other loans secured 564 (148 ) — — 416 Home equity lines of credit 186 (80 ) (43 ) 6 69 Consumer and installment loans 122 93 (104 ) — 111 Total $ 4,057 $ 1,326 $ (2,191 ) $ 729 $ 3,921 The following tables present the balance in the allowance for loan losses and the recorded investment in loans, excluding net deferred fees and accrued interest, by portfolio segment, and based on impairment method as of June 30, 2017 and June 30, 2016 (in thousands): June 30, 2017 Loans Allowance for Loan Losses Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired With Deteriorated Credit Quality Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired With Deteriorated Credit Quality Total Residential $ 4,471 $ 211,983 $ 1,324 $ 217,778 $ 131 $ 229 $ 26 $ 386 Commercial 2,411 433,416 1,824 437,651 — 2,589 — 2,589 Construction 3,661 18,743 — 22,404 997 153 — 1,150 Commercial loans 356 32,941 — 33,297 7 433 — 440 Other loans secured 5,813 40,989 — 46,802 2 363 — 365 Home equity lines of credit 610 41,140 177 41,927 5 71 — 76 Consumer and installment loans — 13,723 42 13,765 — 144 — 144 $ 17,322 $ 792,935 $ 3,367 $ 813,624 $ 1,142 $ 3,982 $ 26 $ 5,150 June 30, 2016 Loans Allowance for Loan Losses Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired With Deteriorated Credit Quality Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired With Deteriorated Credit Quality Total Residential $ 5,483 $ 219,310 $ 1,280 $ 226,073 $ — $ 237 $ — $ 237 Commercial 9,277 374,772 1,778 385,827 — 2,149 — 2,149 Construction 144 24,906 — 25,050 83 186 — 269 Commercial loans 2,494 38,113 — 40,607 — 604 — 604 Other loans secured 6,465 43,528 — 49,993 2 395 — 397 Home equity lines of credit 417 40,583 180 41,180 — 73 — 73 Consumer and installment loans 585 15,807 84 16,476 175 138 — 313 $ 24,865 $ 757,019 $ 3,322 $ 785,206 $ 260 $ 3,782 $ — $ 4,042 The following tables present information related to loans individually evaluated for impairment (excluding loans acquired with deteriorated credit quality) by class of loans as of June 30, 2017, 2016 and 2015 (in thousands): Year ended June 30, 2017 June 30, 2017 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 4,216 $ 4,014 $ — $ 4,238 $ 42 Commercial 2,935 2,411 — 2,448 137 Construction 404 404 — 406 12 Commercial loans 276 277 — 278 15 Other loans secured 9,157 4,702 — 4,787 224 Home equity lines of credit 599 599 — 599 (2 ) With an allowance recorded: Residential 395 457 131 432 15 Construction 3,257 3,257 997 3,015 71 Commercial loans 79 79 7 89 4 Other loans secured 1,111 1,111 2 1,135 57 Home equity lines of credit 11 11 5 11 — Total $ 22,440 $ 17,322 $ 1,142 $ 17,438 $ 575 Year ended June 30, 2016 June 30, 2016 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 5,683 $ 5,483 $ — $ 5,577 $ 6 Commercial 9,947 9,277 — 9,324 88 Construction 12 12 — 13 — Commercial loans 5,250 2,494 — 3,971 2 Other loans secured 7,762 6,408 — 6,549 69 Home equity lines of credit 445 417 — 430 — Consumer and installment loans 314 236 — 235 — With an allowance recorded: Construction 1,324 132 83 132 — Other loans secured 57 57 2 62 1 Consumer and installment 353 349 175 360 11 Total $ 31,147 $ 24,865 $ 260 $ 26,653 $ 177 Year ended June 30, 2015 June 30, 2015 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 7,064 $ 7,082 $ — $ 6,216 $ 146 Commercial 9,395 9,121 — 7,365 242 Construction 1,984 2,020 — 4,271 — Commercial loans — — — 3,266 175 Other loans secured 11,528 10,634 — 11,570 587 Home equity lines of credit 457 438 — 254 1 Consumer and installment loans 5 5 — 1 — With an allowance recorded: Commercial 511 301 34 60 — Construction 5,800 4,617 675 1,669 18 Other loans secured 43 43 — 36 — Consumer and installment 478 375 29 131 5 Total $ 37,265 $ 34,636 $ 738 $ 34,839 $ 1,174 The following table presents the recorded investment in nonaccrual loans and in loans past due over 90 days still on accrual status, by class of loans as of June 30, 2017 and June 30, 2016 (in thousands): Loans Past Due Over 90 Days Nonaccrual and Still Accruing June 30, June 30, June 30, June 30, 2017 2016 2017 2016 Originated: Residential $ 2,581 $ 4,717 $ — $ — Commercial — 300 — — Construction 3,661 144 — — Commercial loans — 1,615 — — Other loans secured 2,959 3,433 — — Home equity lines of credit 302 405 — — Consumer and installment loans — 584 4 Acquired: Residential 1,776 1,164 — — Commercial 497 — — — Home equity lines of credit 296 197 — — Total $ 12,072 $ 12,559 $ — $ 4 Nonperforming loans include both smaller-balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The table above excludes acquired loans that are accounted for as purchased credit impaired loans totaling $2.7 million and $3.3 million as of June 30, 2017 and June 30, 2016, respectively. Such loans are excluded because the loans are in pools that are considered performing. The discounts arising from recording these loans at fair value upon acquisition were due in part to credit quality and the accretable yield is being recognized as interest income over the life of the loans based on expected cash flows. The following tables present the aging of the recorded investment in past due loans by class of loans as of June 30, 2017 and June 30, 2016 (in thousands): June 30, 2017 90 Days or 30-59 60-89 More Past Total Past Days Past Due Days Past Due Due Due Current Total Originated: Residential $ 94 $ 275 $ 1,973 $ 2,342 $ 153,390 $ 155,732 Commercial — — — — 355,247 355,247 Construction — — 3,661 3,661 18,743 22,404 Commercial loans — — — — 31,613 31,613 Other loans secured — — 544 544 43,612 44,156 Home equity lines of credit — 199 103 302 35,246 35,548 Consumer and installment loans — — — — 13,435 13,435 Total originated 94 474 6,281 6,849 651,286 658,135 Acquired: Residential 237 463 1,472 2,172 59,874 62,046 Commercial — — 1,054 1,054 81,350 82,404 Commercial loans — — — — 1,684 1,684 Other loans secured — — — — 2,646 2,646 Home equity lines of credit — — 296 296 6,083 6,379 Consumer and installment loans — — — — 330 330 Total acquired 237 463 2,822 3,522 151,967 155,489 Total $ 331 $ 937 $ 9,103 $ 10,371 $ 803,253 $ 813,624 June 30, 2016 90 Days or 30-59 60-89 More Past Total Past Days Past Due Days Past Due Due Due Current Total Originated: Residential $ 430 $ 573 $ 2,232 $ 3,235 $ 150,010 $ 153,245 Commercial — — 300 300 291,044 291,344 Construction — — 144 144 24,590 24,734 Commercial loans — 760 1,615 2,375 35,621 37,996 Other loans secured — — 100 100 47,175 47,275 Home equity lines of credit — — 113 113 34,340 34,453 Consumer and installment loans 5 — 589 594 15,280 15,874 Total originated 435 1,333 5,093 6,861 598,060 604,921 Acquired: Residential 732 — 1,073 1,805 71,023 72,828 Commercial — — 520 520 93,963 94,483 Construction — — — — 316 316 Commercial loans — — — — 2,611 2,611 Other loans secured — — — — 2,718 2,718 Home equity lines of credit 296 — 197 493 6,234 6,727 Consumer and installment loans — — — — 602 602 Total acquired 1,028 0 1,790 2,818 177,467 180,285 Total $ 1,463 $ 1,333 $ 6,883 $ 9,679 $ 775,527 $ 785,206 Troubled Debt Restructurings The terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. As of June 30, 2017 and June 30, 2016, the Company had 20 and 26 loans classified as troubled debt restructurings totaling $9.9 million and $18.6 million, respectively. The Company has allocated $145,000 and $2,000, respectively, of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of June 30, 2017 and June 30, 2016, respectively, and has not committed to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings. The following table presents loans by class modified in troubled debt restructurings that occurred during the years ended June 30, 2017, 2016 and 2015: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Year ended June 30, 2017: Residential 1 $ 165 $ 210 Commercial loans 1 276 276 2 $ 441 $ 486 Year ended June 30, 2016: Residential 3 $ 1,697 $ 1,697 Commercial 1 1,178 1,178 Other loans secured 1 64 64 Home equity lines of credit 1 200 200 6 $ 3,319 $ 3,319 Year ended June 30, 2015: Residential 4 $ 2,080 $ 2,080 Commercial 3 4,103 4,103 Construction 1 1,742 1,742 Commercial loans 3 1,071 1,071 Other loans secured 3 183 183 Home equity lines of credit 1 8 8 15 $ 9,187 $ 9,187 The Company had two troubled debt restructurings, one residential mortgage and one home equity line of credit, for which there was a payment default in the year ended June 30, 2017 that were modified in the twelve months prior to default. There was one such default, on a residential mortgage, in the year ended June 30, 2016 and none for the year ended June 30, 2015. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a monthly basis. The Company utilized the same grading process for acquired loans as it does for originated loans. The Company uses the following definitions for risk ratings: Special Mention – Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. Substandard – Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful – Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above-described process and loans in groups of homogenous loans are considered to be pass rated loans. These loans are monitored based on delinquency and performance. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows (in thousands): June 30, 2017 Pass Special Mention Substandard Doubtful Total Originated: Residential $ 153,165 $ — $ 2,567 $ — $ 155,732 Commercial 352,203 134 2,910 — 355,247 Construction 18,743 — 3,661 — 22,404 Commercial loans 28,944 — 2,669 — 31,613 Other loans secured 37,267 — 6,889 — 44,156 Home equity lines of credit 35,246 58 244 — 35,548 Consumer and installment loans 13,405 — 30 — 13,435 Total originated 638,973 192 18,970 — 658,135 Acquired: Residential 58,665 — 3,381 — 62,046 Commercial 80,082 — 2,322 — 82,404 Commercial loans 1,684 — — — 1,684 Other loans secured 2,646 — — — 2,646 Home equity lines of credit 5,906 — 473 — 6,379 Consumer and installment loans 330 — — — 330 Total acquired 149,313 — 6,176 — 155,489 Total $ 788,286 $ 192 $ 25,146 $ — $ 813,624 June 30, 2016 Pass Special Mention Substandard Doubtful Total Originated: Residential $ 147,944 $ 181 $ 5,120 $ — $ 153,245 Commercial 278,491 2,101 10,752 — 291,344 Construction 24,590 — 144 — 24,734 Commercial loans 30,916 2,004 5,076 — 37,996 Other loans secured 38,382 109 8,784 — 47,275 Home equity lines of credit 34,047 — 406 — 34,453 Consumer and installment loans 15,069 24 432 349 15,874 Total originated $ 569,439 $ 4,419 $ 30,714 $ 349 $ 604,921 Acquired: Residential 70,629 — 2,199 — 72,828 Commercial 91,380 949 2,154 — 94,483 Construction 316 — — — 316 Commercial loans 2,611 — — — 2,611 Other loans secured 2,718 — — — 2,718 Home equity lines of credit 6,529 — 198 — 6,727 Consumer and installment loans 602 — — — 602 Total acquired 174,785 949 4,551 — 180,285 Total $ 744,224 $ 5,368 $ 35,265 $ 349 $ 785,206 Purchased Credit Impaired Loans The Company has acquired loans for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans as of June 30, 2017 and June 30, 2016 is as follows (in thousands): June 30, 2017 2016 Residential $ 1,298 $ 1,280 Commercial 1,824 1,778 Home equity lines of credit 177 180 Consumer and installment loans 42 84 Carrying amount, net of allowance of $26 and $0, respectively $ 3,341 $ 3,322 Accretable yield, or income expected to be collected, for acquired loans is as follows (in thousands): Year ended June 30, 2017 2016 2015 Beginning balance $ 578 $ 713 $ — New loans acquired — — 750 Accretion income (190 ) (185 ) (37 ) Reclassification from non-accretable difference 15 132 — Disposals — (82 ) — Ending balance $ 403 $ 578 $ 713 |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Jun. 30, 2017 | |
Property Plant And Equipment [Abstract] | |
Premises and Equipment | Note 6. Premises and Equipment Premises and equipment are summarized as follows at June 30 (in thousands): 2017 2016 Land $ 1,997 $ 1,997 Building and Leasehold improvements 11,128 9,601 Furniture, fixtures and equipment 5,841 4,946 Construction and improvements in process 3,015 1,967 21,981 18,511 Less: accumulated depreciation and amortization (9,022 ) (7,737 ) Total premises and equipment, net $ 12,959 $ 10,774 Depreciation expense was $1.3 million, $1.1 million and $725,000 for the years ended June 30, 2017, 2016 and 2015, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Jun. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Note 7 . Goodwill and Intangible Assets The change in goodwill during the years ended June 30, 2017, 2016 and 2015 are as follows (in thousands): 2017 2016 2015 Balance at July 1 $ 6,106 $ 5,843 $ — Acquired goodwill – CMS Bancorp — — 5,843 Adjustment to CMS goodwill — 263 — Total at June 30, $ 6,106 $ 6,106 $ 5,843 Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. The Company tests for goodwill impairment on an annual basis as of June 30 th Acquired Intangible Assets: Acquired intangible assets were as follows at June 30 (in thousands): 2017 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Core deposit intangible $ 887 $ (328 ) $ 887 $ (185 ) Aggregate amortization expense was $143,000, $158,000 and $27,000 for the years ended June 30, 2017, 2016 and 2015, respectively. Estimated amortization expense for each of the next five fiscal years ended June 30 (in thousands): 2018 $ 126 2019 110 2020 94 2021 78 2022 62 |
Deposits
Deposits | 12 Months Ended |
Jun. 30, 2017 | |
Deposits [Abstract] | |
Deposits | Note 8 . Deposits Deposit balances are summarized as follows at June 30, 2017 and 2016 (in thousands): 2017 2016 Demand $ 136,361 $ 122,740 NOW Accounts 115,527 111,455 Money market accounts 29,097 31,194 Savings 512,697 516,249 Time deposits 294,779 331,057 Total $ 1,088,461 $ 1,112,695 Time deposits that meet or exceed the FDIC insurance limit of $250,000 were $49.2 million and $53.3 million at June 30, 2017 and 2016, respectively. Scheduled maturities of time deposits were as follows as of June 30, 2017 and 2016 and exclude fair value adjustments on acquired time deposits (in thousands): 2017 2016 Within 1 year $ 107,097 $ 169,260 1 year to 2 years 62,331 44,762 2 years to 3 years 31,143 49,745 3 years to 4 years 41,508 26,782 4 years to 5 years 52,503 40,490 Thereafter 197 18 Total $ 294,779 $ 331,057 Deposits of local governments held by PCSB Commercial Bank were $38.4 million and $49.4 million at June 30, 2017 and 2016, respectively. |
FHLB and Other Borrowings
FHLB and Other Borrowings | 12 Months Ended |
Jun. 30, 2017 | |
Federal Home Loan Banks [Abstract] | |
FHLB and Other Borrowings | Note 9 . FHLB and Other Borrowings Borrowings consist of advances from the Federal Home Loan Bank of New York. As of June 30, 2017, FHLB advances consisted of $38.6 million of short and long term advances with original maturities ranging from 3 to 30 months, as well as a $4.0 million amortizing term loan with a balloon payment of $2.8 million in 2026. The maturity schedule of advances is summarized as follows as of June 30 (in thousands): 2017 2016 Amount Due Weighted Avg. Rate Amount Due Weighted Avg. Rate Within 1 year $ 23,757 1.27 % $ 16,118 0.80 % 1 year to 2 years 10,125 1.70 121 2.62 2 years to 3 years 5,128 1.81 125 2.62 3 years to 4 years 131 2.62 128 2.62 4 years to 5 years 135 2.62 131 2.62 Thereafter 3,322 2.62 3,458 2.62 Total $ 42,598 1.55 % $ 20,081 1.16 % As a member of the FHLB of New York, the Bank had access to funds in the form of FHLB advances of approximately $393.3 million at June 30, 2017. Advances are secured by the Bank’s investment in FHLB stock and by a blanket security agreement. This agreement requires the Bank to maintain as collateral certain qualifying assets (such as U.S. Government agency and MBSs) with a discounted fair value, as defined, at least equal to 110% of any outstanding advances. At June 30, 2017, the Bank also had access to funds of approximately $85.9 million in the form of secured borrowings through the discount window of the Federal Reserve Bank of New York. Collateral for these borrowings may include qualifying assets, such as one-to-four family residential loans. The Bank had no outstanding FRB borrowings as of June 30, 2017 or 2016. |
Commitment and Contingencies
Commitment and Contingencies | 12 Months Ended |
Jun. 30, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 10 . Commitments and Contingencies Financial Instruments with Off-Balance-Sheet Risk described in Note 1 The contract amounts of credit-related financial instruments reflect the extent of the Company’s involvement with those classes of financial instruments. The Company’s exposure to credit loss in the event of non-performance by the counterparty is represented by the contract amount. The Company uses the same credit policies in extending commitments, lines of credit and standby letters of credit as it does for on-balance sheet instruments. The contract amounts of credit-related financial instruments at June 30, 2017 and 2016, are summarized below (in thousands): 2017 2016 Commitments to originate loans $ 77,600 $ 62,773 Unused lines of credit 45,439 58,788 Standby letter of credit 705 732 Lines of credit (including undisbursed construction loans) and commitments to originate loans are agreements to lend to a customer as long as there is no violation of any condition established in the contract. These agreements generally have fixed expiration dates or other termination clauses, and may require payment of a fee. Since certain lines of credit and commitments are expected to expire without being funded, the contract amounts do not necessarily represent future cash requirements. In extending lines of credit and commitments, the Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customer. The Company issues financial standby letters of credit that are irrevocable undertakings by the Company to guarantee payment of a specified financial obligation. Most of the Company’s financial standby letters of credit arise in connection with lending relationships and have terms of one year or less. The maximum potential future payments the Company could be required to make equals the contract amount of standby letters of credit shown in the preceding table. The Company’s recognized liability for financial standby letters of credit was insignificant at June 30, 2017 and 2016. Operating Lease Commitments Within 1 year $ 2,359 1 year to 2 years 2,024 2 years to 3 years 1,748 3 years to 4 years 1,484 4 years to 5 years 1,435 Thereafter 7,395 Total $ 16,445 Legal Proceedings Company |
Comprehensive Income
Comprehensive Income | 12 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Comprehensive Income | Note 11 . Comprehensive Income The following is a summary of the accumulated other comprehensive income (loss) balances, net of tax (in thousands): Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2016 $ 523 $ (7,683 ) $ (810 ) $ (7,970 ) Other comprehensive income (loss) before reclassifications (735 ) 3,973 (755 ) 2,483 Reclassification Adjustment for expense included in salaries and employee benefits — 89 93 182 Less tax effect (249 ) 1,381 (1,222 ) (90 ) Net other comprehensive income (loss) (486 ) 2,681 560 2,755 Balance at June 30, 2017 $ 37 $ (5,002 ) $ (250 ) $ (5,215 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2015 $ 323 $ (4,311 ) $ (734 ) $ (4,722 ) Other comprehensive income (loss) before reclassifications 255 (5,022 ) 89 (4,678 ) Reclassification Adjustment for expense included in salaries and employee benefits — 398 84 482 Less tax effect 55 (1,252 ) 249 (948 ) Net other comprehensive income (loss) 200 (3,372 ) (76 ) (3,248 ) Balance at June 30, 2016 $ 523 $ (7,683 ) $ (810 ) $ (7,970 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2014 $ 418 $ (2,622 ) $ (642 ) $ (2,846 ) Other comprehensive income (loss) before reclassifications (159 ) (3,044 ) 237 (2,966 ) Reclassification Adjustment for expense included in salaries and employee benefits — (225 ) 84 (141 ) Less tax effect (64 ) (1,580 ) 413 (1,231 ) Net other comprehensive income (loss) (95 ) (1,689 ) (92 ) (1,876 ) Balance at June 30, 2015 $ 323 $ (4,311 ) $ (734 ) $ (4,722 ) |
Mergers and Acquisitions
Mergers and Acquisitions | 12 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | Note 12 . Mergers and Acquisitions On April 28, 2015, the Company acquired all of the outstanding shares of CMS Bancorp. The business combination expanded the Company's presence in Westchester County and enhanced opportunities for business, customer relationships and the communities served by the Company. On the acquisition date, CMS Bancorp had 1,941,944 outstanding common shares, net of 192,362 shares of treasury stock, and shareholders' equity of $17.8 million. CMS shareholders received $13.25 per share in cash resulting in a consideration value of $23.2 million. The assets and liabilities in the CMS Bank acquisition were recorded at their fair value based on management's best estimate based on information available at the date of acquisition. The acquisition was accounted for under the acquisition method of accounting in accordance with FASB ASC 805, “Business Combinations.” Accordingly, the Consideration paid (in thousands): Amount Cash consideration paid to CMS shareholders $ 23,182 As Acquired Fair Value Adjustments As Recorded at Acquisition Cash $ 2,533 $ $ 2,533 Available for sale investment securities 41,082 41,082 Loans 218,796 (4,018 ) a 214,778 Premises and equipment 2,201 841 b 3,042 Other real estate owned 183 183 Core deposit intangible 887 c 887 Deferred tax assets, net 193 1,829 d 2,022 Other assets 2,079 (177 ) e 1,902 Deposits (207,391 ) (870 ) f (208,261 ) Federal Home Loan Bank advances (36,050 ) (36,050 ) Other Liabilities (4,984 ) (58 ) e (5,042 ) Total Identifiable net assets $ 18,642 $ (1,566 ) $ 17,076 Goodwill Created $ 6,106 Explanation of fair value adjustments: a) The adjustment represents the write down of the book value of loans to their estimated fair value based on current interest rates and expected cash flows, which includes an estimate of expected loan loss inherent in the portfolio. b) The adjustment represents the excess of the premises and equipment fair value over their book values, based on recent appraisals. c) The adjustment represents the economic value of the acquired core deposit portfolio. The core deposit intangible will be amortized over a period of 10 years based on the sum-of-of-years-digits method. d) The adjustment represents the net deferred tax asset resulting from the fair value adjustments related to acquired assets and liabilities, as well as identifiable intangibles. e) The adjustment represents the write down of receivables and accrued liabilities to their net realizable value. f) The adjustment represents the write down of the book value of time deposits to their estimated fair value based on current interest rates. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 13 . Fair Value of Financial Instruments Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as general classification of such instruments pursuant to the valuation hierarchy, is set forth below. While management believes the Company’s valuation methodologies are appropriate and consistent with other financial institutions, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Investment Securities Impaired Loans Foreclosed Real Estate Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for both collateral-dependent impaired loans and real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Credit Department, as well as a third-party specialist, where deemed appropriate, reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Once appraisals are considered appropriate, management discounts the appraised value for estimated selling costs, such as legal, broker, and property maintenance and insurance costs. The most recent analysis performed indicated discount rates ranging between 10% and 20% should be applied to properties with appraisals performed. Assets and liabilities measured at fair value are summarized below (in thousands): Fair Value Measurements Level 1 Level 2 Level 3 Total June 30, 2017: Measured on a recurring basis: Available for sale securities: U.S. Government and agency obligations $ — $ 63,445 $ — $ 63,445 Corporate and other debt securities — 8,482 — 8,482 Mortgage-backed securities – residential — 39,930 — 39,930 Equity securities — 32 — 32 Total assets at fair value $ — $ 111,889 $ — $ 111,889 Measured on a non-recurring basis: Impaired loans: Residential mortgages $ — $ — $ 1,126 $ 1,126 Construction — — 2,260 2,260 Commercial — — 72 72 Other loans secured — — 1,609 1,609 Home equity lines of credit — — 5 5 Foreclosed real estate — — 977 977 Total assets at fair value $ — $ — $ 6,049 $ 6,049 Fair Value Measurements Level 1 Level 2 Level 3 Total June 30, 2016: Measured on a recurring basis: Available for sale securities: U.S. Government and agency obligations $ — $ 66,132 $ — $ 66,132 Corporate and other debt securities — 8,646 — 8,646 Mortgage-backed securities – residential — 37,524 — 37,524 Equity securities — 49 — 49 Total assets at fair value $ — $ 112,351 $ — $ 112,351 Impaired loans: Residential mortgages $ — $ — $ 913 $ 913 Construction — — 49 49 Commercial loans — — 54 54 Consumer and installment loans — — 175 175 Foreclosed real estate — — 905 905 Total assets at fair value $ — $ — $ 2,096 $ 2,096 Impaired loans in the table above had a carrying amount of $6.3 million, a remaining valuation allowance of $1.1 million at June 30, 2017, incurred $245,000 of net charge-offs during the year ended June 30, 2017, and resulted in an additional provision for loan losses of $1.4 million. Impaired loans as of June 30, 2016 in the table above had a carrying amount of $1.5 million, a remaining valuation allowance of $259,000 at June 30, 2016, and incurred no net charge-offs during the year ended June 30, 2016, which resulted in an additional provision for loan losses of $175,000 for the year. The following tables present quantitative information about Level 3 fair value measurements for selected financial instruments measured at fair value on a non-recurring basis at June 30, 2017 and June 30, 2016 (in thousands): Valuation Unobservable Range or Fair Value Technique(s) Input(s) Rate Used June 30, 2017: Impaired loans - residential mortgages $ 1,126 Sales comparison Adjustments for differences in sales comparables -5.1% to 7.8% Discounted cash flow Discount rate 5.4% to 6.3% Impaired loans - construction 2,260 Cost approach Discount for distressed property 50.0% Impaired loans - commercial 72 Discounted cash flow Adjustments for differences in sales comparables 7.0% to 7.5% Impaired loans - other loans secured 1,609 Discounted cash flow Discount rate 6.0% Sales comparison Adjustments for differences in sales comparables 0.0% Impaired loans - home equity lines of credit 5 Discounted cash flow Discount rate 6.3% Foreclosed real estate 977 Sales comparison Adjustments for differences in sales comparables -23.4% to 7.2% June 30, 2016: Impaired loans - residential mortgages $ 913 Sales comparison Adjustments for differences in sales comparables -2.0% to 13.3% Impaired loans - construction 49 Discounted cash flow Discount rate 1.0% Impaired loans - other loans secured 54 Discounted cash flow Discount rate 4.5% Impaired loans - consumer and installment loans 175 Discounted cash flow Discount rate 4.3% Foreclosed real estate 905 Sales comparison Adjustments for differences in sales comparables -14.3% to 7.5% The following is a summary of the carrying amounts and estimated fair values of the Company’s financial assets and liabilities (in thousands) (none of which are held for trading purposes): Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total June 30, 2017: Financial assets: Cash and cash equivalents $ 60,486 $ 60,486 $ — $ — $ 60,486 Investment securities held to maturity 383,551 — 383,318 270 383,588 Investment securities available for sale 111,889 — 111,889 — 111,889 Loans receivable, net 809,648 — — 817,814 817,814 Accrued interest receivable 3,693 — 1,243 2,450 3,693 Federal Home Loan Bank stock 3,132 N/A N/A N/A N/A Financial liabilities: Demand, NOW, money market deposits and savings accounts $ 793,681 $ 793,681 $ — $ — $ 793,681 Time certificate deposits 294,780 — 297,508 — 297,508 Mortgage escrow funds 8,084 8,084 — — 8,084 FHLB advances 42,598 — 45,504 — 45,504 June 30, 2016: Financial assets: Cash and cash equivalents $ 41,578 $ 41,578 $ — $ — $ 41,578 Investment securities held to maturity 270,679 — 273,032 285 273,317 Investment securities available for sale 112,351 — 112,351 — 112,351 Loans receivable, net 782,336 — — 799,242 799,242 Accrued interest receivable 3,361 — 958 2,403 3,361 Federal Home Loan Bank stock 2,047 N/A N/A N/A N/A Financial liabilities: Demand, NOW, money market deposits and savings accounts $ 781,638 $ 781,638 $ — $ — $ 781,638 Time certificate deposits 331,057 — 334,290 — 334,290 Mortgage escrow funds 7,023 7,023 — — 7,023 FHLB advances 20,081 — 20,171 — 20,171 The methods and assumptions, not previously presented, used to estimate fair values are described as follows: Cash and Cash Equivalents Loans Receivable, Net FHLB Stock Accrued Interest Receivable Deposits and escrow funds FHLB Advances Off Balance Sheet Instruments |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax | Note 14 . Income Taxes The components of income tax expense (benefit) are summarized as follows for the years ended June 30 (in thousands): 2017 2016 2015 Current tax expense (benefit) Federal $ 1,344 $ (6 ) $ 406 State (52 ) (476 ) (290 ) 1,292 (482 ) 116 Deferred tax expense Federal (52 ) 1,216 183 State (21 ) 250 (53 ) (73 ) 1,466 130 State tax valuation allowances, net of federal benefit 47 149 456 Total $ 1,266 $ 1,133 $ 702 Effective tax rates differ from federal statutory rate of 34% applied to income before income taxes due to the following (in thousands): 2017 2016 2015 Tax at federal statutory rate of 34% $ 1,529 $ 1,380 $ 411 State Taxes, net of federal benefit — — 229 Tax-exempt income (47 ) (49 ) (56 ) BOLI income (211 ) (156 ) (101 ) Non-deductible acquisition related costs — — 139 Other, net (5 ) (42 ) 80 Total $ 1,266 $ 1,133 $ 702 Year-end deferred tax assets and liabilities were due to the following (in thousands): 2017 2016 Deferred Tax Assets: Allowance for Loan Losses $ 1,983 $ 1,568 Deferred compensation 1,071 911 Purchase accounting adjustments 277 542 Deferred rent 380 263 Other compensation loss (defined benefit plans) 2,706 4,375 Depreciation of premises and equipment 405 417 NOL carryforward 602 1,066 Charitable contribution carryforward 1,820 139 Nonaccrual loan interest 540 661 Other 104 54 Total deferred tax assets 9,888 9,996 Deferred tax liabilities: Prepaid pension costs 3,622 2,393 Deferred loan costs and fees, net 457 463 Other comprehensive income (securities) 19 269 Other 368 102 Total deferred tax liabilities 4,466 3,227 Deferred tax asset valuation allowance (652 ) (605 ) Net Deferred Tax Asset $ 4,770 $ 6,164 At June 30, 2017, after consideration of pre-transaction net operating losses due to the IRC section 382 limitation, the Company had federal net operating loss carryforwards of approximately $615,000, which will begin to expire in 2035. The Company has an apportioned New York State net operating loss carryforward of approximately $7.1 million which will begin to expire in 2034. In addition, the Company has approximately $4.7 million of charitable contribution carryforwards that may be carried forward up to 5 years and will begin to expire in 2019. In 2014, New York State enacted comprehensive tax reform provisions with significant impact on financial institutions. As a result of this legislation, beginning on January 1, 2015, the Company calculated its tax obligation to New York based upon the largest of a calculated income tax liability, a tax liability based upon average equity capital or a fixed minimum fee. It is more likely than not the Company will generate New York tax losses in future years and therefore calculate its New York tax liability on the basis of average equity capital or a fixed minimum fee. Consequently, the Company recorded a valuation allowance against its net New York deferred tax asset as of June 30, 2015, as it is unlikely this deferred tax asset will impact the Company 's New York tax liability in future years. Management has determined that it is not required to establish a valuation allowance against any other deferred tax assets in accordance with accounting principles generally accepted in the United States of America As a thrift institution, the Bank is subject to special provisions in the federal tax laws regarding its allowable tax bad debt deductions and related tax bad debt reserves. Tax bad debt reserves consist of a defined base-year amount, plus additional amounts (excess reserves) accumulated after the base year. Deferred tax liabilities are recognized with respect to such excess reserves, as well as any portion of the base-year amount that is expected to become taxable (or recaptured) in the foreseeable future. The Bank’s base-year tax bad debt reserves totaled $2.8 million at June 30, 2017 and 2016, respectively. Associated deferred tax liabilities of $1.0 million have not been recognized at June 30, 2017 and 2016, since the Bank does not expect that the base-year reserves will become taxable in the foreseeable future. Taxation of the base-year reserve would occur only in very limited circumstances. The Company is subject to U.S. federal income tax as well as income tax of the state of New York. The Company’s federal and state income tax returns are subject to examination for years after December 31, 2013. At June 30, 2017 and 2016, the Company had no unrecognized tax benefits recorded. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. |
Post-Retirement Benefits
Post-Retirement Benefits | 12 Months Ended |
Jun. 30, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Post-Retirement Benefits | Note 15 . Post-Retirement Benefits Employee Pension Plan The following is a summary of the plan’s funded status (in thousands) as of June 30, 2017 and 2016 (the measurement date for financial reporting purposes): 2017 2016 Change in benefit obligation: Beginning benefit obligation $ 28,670 $ 25,021 Service Cost 602 626 Interest Cost 1,002 1,086 Actuarial (Gain) Loss (2,013 ) 2,923 Benefits Paid (828 ) (822 ) Settlements (1,301 ) (164 ) Curtailment (518 ) — Ending benefit obligation 25,614 28,670 Change in plan assets, at fair value: Beginning plan assets 23,215 24,503 Actual return 3,358 (302 ) Employer contributions 3,000 — Benefits paid (828 ) (822 ) Settlements (1,301 ) (164 ) Ending Plan assets 27,444 23,215 Funded Status $ 1,830 $ (5,455 ) Accumulated Benefit Obligation $ 25,614 $ 28,167 The following is a summary of net period pension cost, contributions and benefits paid for the years ended June 30 (in thousands): 2017 2016 Net period pension cost $ (224 ) $ 483 Employer contributions 3,000 — Benefits paid 828 822 Pre-tax amounts recognized in accumulated other comprehensive loss at June 30 consist of (in thousands): 2017 2016 Net loss $ 7,579 $ 12,751 Prior service (credit) cost — (1,110 ) $ 7,579 $ 11,641 Net periodic pension cost and other amounts recognized in other comprehensive income for the years ended June 30 (in thousands): 2017 2016 2015 Service cost $ 602 $ 626 $ 582 Interest cost 1,002 1,086 949 Expected return on plan assets (1,917 ) (1,796 ) (1,710 ) Amortization of prior net loss 1,200 854 513 Amortization of prior service cost (192 ) (287 ) (287 ) Gain on curtailment (919 ) — — New past service liability — — — Net periodic (credit) cost $ (224 ) $ 483 $ 47 The estimated net loss and past service cost for the pension plan that will be amortized from accumulated other comprehensive income into net periodic benefit costs during the year ending June 30, 2018, are $725,000 and $0, respectively. Contributions: Estimated Future Payments 2018 $ 1,187 2019 1,252 2020 1,283 2021 1,338 2022 1,396 Following five years 7,089 Assumptions 2017 2016 Discount Rate 3.87 % 3.61 % Rate of compensation increase N/A 3.00 % Weighted-average assumptions used to determine net periodic pension cost are described in the table below. As a result of a pension plan freeze on February 28, 2017, the Company utilized different assumptions to determine periodic pension cost for the remaining portion of the year ended June 30, 2017 subsequent to the freeze than had been used prior to the freeze: 3/1/17 to 6/30/17 7/1/16 to 2/28/17 Year ended June 30, 2016 Discount Rate 4.04 % 3.61 % 4.44 % Expected return on plan assets 7.50 % 7.50 % 7.50 % Rate of compensation increase N/A 3.00 % 3.00 % Plan Assets Plan assets are invested in a series of diversified investment funds of RSI Retirement Trust (“the Trust”). The investment funds include equity mutual funds, bond mutual funds, or commingled trust funds, each with its own investment objectives, investment strategies and risks. The Trust has been given discretion by the Company to determine the appropriate strategic asset allocation, as governed by the Trust’s Statement of Investment Objectives and Guidelines. The long-term objective is to be invested 65% in equity securities (equity mutual funds), 34% in debt securities (bond mutual funds) and 1% in cash equivalents. The bond fund portion may be temporarily increased to 50% in order to lessen the volatility of asset values. Asset rebalancing is performed at least annually, with interim adjustments made if the investment mix varies by more than 10% from the target allocation. The weighted average expected long-term rate of return is estimated based on current trends in the plan assets as well as projected future rates of returns on those assets. The long-term rate of return assumption was set based on historical returns earned by equities and fixed income securities, adjusted to reflect expectations of future returns as applied to the plan’s target allocation of asset classes. Equities and fixed income securities were assumed to earn real rates of return in the ranges of 6% to 8% and 3% to 5%, respectively. The long-term inflation rate was estimated to be 3%. When these overall return expectations are applied to the plan’s target allocation, the result is an expected rate of return of 7.50%. The plan is only permitted to invest in assets approved by the RSI Trustee Board. All other investments are prohibited. The Company’s actual pension plan asset allocation, target allocation and expected long-term rate of return by asset category are as follows: Percentage of Plan Target Assets at Year-End Asset Category Allocation 2017 2016 Equity mutual funds and common/collective trusts 65 % 65 % 58 % Fixed income common/collective trusts 34 34 37 Cash equivalents 1 1 5 Total 100 % 100 % 100 % Equity, Debt, Investment Funds and Other Securities The fair value of the plan assets at June 30, 2017 and 2016, by asset category, is as follows (in thousands): Fair Value Measurements Using Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) June 30, 2017: Plan assets Equity mutual funds and common/collective trusts $ 17,704 $ — $ 17,704 $ — Fixed income common/collective trusts 9,451 — 9,451 — Cash equivalents 289 289 — — Total $ 27,444 $ 289 $ 27,155 $ — June 30, 2016: Plan assets Equity mutual funds and common/collective trusts $ 13,500 $ — $ 13,500 $ — Fixed income common/collective trusts 8,684 — 8,684 — Cash equivalents 1,031 1,031 — — Total $ 23,215 $ 1,031 $ 22,184 $ — Defined Contribution Retirement Plan 401(k) Plan Acquired Pension Plan Supplemental Retirement Plan The Company also maintains unfunded and non-qualified supplemental retirement plans to provide pension benefits in addition to those provided under the qualified pension plan. The accrued benefit cost for the supplemental plans was approximately $3.0 million and $3.5 million at June 30, 2017 and 2016 (included in other liabilities in the consolidated statements of financial condition). Included in accumulated other comprehensive income were pre-tax net losses of $379,000 and $1.2 million for the supplemental retirement plans as of June 30, 2017 and 2016, respectively. The projected benefit obligation and accumulated benefit obligation were $3.0 million as of the June 30, 2017 measurement date and $3.5 million as of June 30, 2016 measurement date. Pension expense for the supplemental plans was $615,000, $539,000 and $490,000 for the years ended June 30, 2017, 2016 and 2015, respectively. Supplemental retirement plan benefits of $272,000 were paid in the years ended June 30, 2017, 2016 and 2015. Net periodic pension cost and other amounts recognized in other comprehensive income for the years ended June 30 (in thousands): 2017 2016 2015 Service cost $ 398 $ 322 $ 288 Interest cost 124 133 118 Amortization of prior net loss 93 84 84 Net periodic cost $ 615 $ 539 $ 490 The estimated net loss for the supplemental plans that will be amortized from accumulated other comprehensive income into net periodic benefit costs during the year ending June 30, 2018, is $34,000. The following benefit payments, which reflect expected future service, are expected for the years ending June 30 (in thousands): 2018 $ 272 2019 272 2020 272 2021 3,021 2022 272 Following five years 2,736 The assumed discount rates used for the supplemental plans range from 3.70% to 3.87%. Employee Stock Ownership Plan On January, 1, 2017, the Company established an Employee Stock Ownership Plan (“ESOP”) to provide eligible employees the opportunity to own Company stock. The plan is a tax-qualified retirement plan for the benefit of Company employees. The Company granted a loan to the ESOP for the purchase of 1,453,209 shares of the Company’s common stock at a price of $10.00 per share. The loan obtained by the ESOP from the Company to purchase the common stock is payable annually over 15 years at a rate per annum equal to the Prime Rate, reset annually on January 1st (4.00% at June 30, 2017). Loan payments are principally funded by cash contributions from the Bank. The loan is secured by the shares purchased, which are held in a suspense account for allocation among participants as the loan is repaid. The balance of the ESOP loan at June 30, 2017 was $14.5 million. Contributions are allocated to eligible participants on the basis of compensation, subject to federal tax limits. The number of shares committed to be released annually is 96,881 through 2032. Shares held by the ESOP include the following: June 30, 2017 Allocated — Committed to be allocated 26,975 Unallocated 1,426,234 Total 1,453,209 The fair value of unallocated shares was $24.3 million at June 30, 2017. Total compensation expense recognized in connection with the ESOP for the year ended June 30, 2017 was $454,000. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Jun. 30, 2017 | |
Banking And Thrift [Abstract] | |
Regulatory Matters | Note 16 . Regulatory Matters The following is a summary of the Company’s and Bank’s actual capital amounts and ratios as of June 30, 2017 and June 30, 2016, compared to the required ratios for minimum capital adequacy and for classification as well capitalized (dollars in thousands): For Capital Adequacy To Be Well Capitalized Under Prompt Corrective Action Bank Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio June 30, 2017: PCSB Bank Leverage (Tier 1) $ 190,990 13.7 % $ 55,949 4.0 % $ 69,936 5.0 % Risk-based: Common Tier 1 190,990 21.7 39,631 4.5 57,245 6.5 Tier 1 190,990 21.7 52,841 6.0 70,455 8.0 Total 196,140 22.3 70,455 8.0 88,069 10.0 PCSB Financial Corporation Leverage (Tier 1) $ 278,528 20.0 % $ 55,839 4.0 % N/A Risk-based: Common Tier 1 278,528 31.6 39,631 4.5 N/A Tier 1 278,528 31.6 52,841 6.0 N/A Total 283,678 32.2 70,455 8.0 N/A June 30, 2016: PCSB Bank Leverage (Tier 1) $ 110,888 8.9 % $ 49,748 4.0 % $ 62,185 5.0 % Risk-based: Common Tier 1 110,888 13.5 37,036 4.5 53,497 6.5 Tier 1 110,888 13.5 49,382 6.0 65,842 8.0 Total 110,888 14.0 65,842 8.0 82,303 10.0 PCSB Financial Corporation Leverage (Tier 1) N/A N/A N/A Risk-based: Common Tier 1 N/A N/A N/A Tier 1 N/A N/A N/A Total N/A N/A N/A In addition to the ratios above, the Basel III Capital Rules established that community banking institutions must maintain a capital conservation buffer of common equity Tier 1 capital in an amount greater than 2.5% of total risk-weighted assets to avoid being subject to limitations on capital distributions and discretionary bonus payments to executive officers. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and will be phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). Management believes that as of June 30, 2017 and June 30, 2016, the Bank and Company each met all capital adequacy requirements to which they were subject, including the capital conservation buffer of 1.250% as of June 30, 2017 and 0.625% as of June 30, 2016. Further, the most recent FDIC notification categorized the Bank as a well-capitalized institution under the prompt corrective action regulations. There have been no conditions or events since that notification that management believes have changed the Bank’s capital classification. |
Related Party Disclosures
Related Party Disclosures | 12 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Disclosures | Note 17 . Related Party Disclosures The Company's authority to extend credit to its directors, executive officers, and stockholders owning 10% or more of the Holding Company's outstanding common stock, as well as to entities controlled by such persons, is additionally governed by the requirements of Sections 22(g) and 22(h) of the FRA and Regulation O of the FRB enacted thereunder. Among other matters, these provisions require that extensions of credit to insiders: (i) be made on terms substantially the same as, and follow credit underwriting procedures not less stringent than, those prevailing for comparable transactions with unaffiliated persons and that do not involve more than the normal risk of repayment or present other unfavorable features; and (ii) not exceed certain amount limitations individually and in the aggregate, which limits are based, in part, on the amount of the bank's capital. Regulation O additionally requires that extensions of credit in excess of certain limits be approved in advance by the bank's board of directors. New York banking regulations impose certain limits and requirements on various transactions with "insiders," as defined in the New York banking regulations to include certain executive officers, directors and principal stockholders. As of June 30, 2017 and 2016, the Company and the Bank had no insider loans. Deposits from executive officers, directors and their affiliates totaled approximately $2.2 million and $2.9 million as of June 30, 2017 and 2016, respectively. |
Parent Company Only Financial S
Parent Company Only Financial Statements | 12 Months Ended |
Jun. 30, 2017 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Parent Company Only Financial Statements | Note 18 The following are the financial statements of the Company (Parent only) as of and for the year ended June 30, 2017 (dollars in thousands). The Company was established as of December 9, 2016, therefore prior period financial information is not available. June 30, 2017 Assets Cash and cash equivalents $ 71,273 Investment in Bank 192,308 ESOP Loan receivable 14,532 Other Assets 1,888 Total Assets $ 280,001 Liabilities and stockholders' equity Other Liabilities 155 Stockholders' equity 279,846 Total Liabilities and stockholders’ equity $ 280,001 For the year ended June 30, 2017 Interest Income $ 125 Equity in income of Bank 1,055 Contribution to PCSB Foundation 5,000 Other non-interest expenses 105 Income before income tax (benefit) (3,925 ) Income tax (benefit) (1,693 ) Net income $ (2,232 ) For the year ended June 30, 2017 Cash Flows from Operating Activities: Net income $ (2,232 ) Adjustments to reconcile net income to net cash provided by operating activities: Equity in income of Bank (1,055 ) Issuance of stock to PCSB Foundation 3,387 Deferred tax expense (1,482 ) Net decrease/(increase) in accrued interest receivable (113 ) Other adjustments, principally net changes in other assets and liabilities 46 Net cash used in operating activities $ (1,449 ) Cash Flows from Investing Activities: Investment in PCSB Bank (87,350 ) Increase in ESOP loan (14,532 ) Net cash used in investing activities $ (101,882 ) Cash Flows from Financing Activities: Issuance of common stock 174,604 Net cash provided by financing activities 174,604 Net increase in cash and cash equivalents 71,273 Cash and cash equivalents at beginning of year — Cash and cash equivalents at end of year $ 71,273 |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Jun. 30, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information (Unaudited) | Note 19 . Quarterly Financial Information (unaudited) 2017 2016 In thousands of dollars, except per share amounts Fourth Third Second First Fourth Third Second First Net interest income $ 9,405 $ 8,958 $ 8,527 $ 8,775 $ 8,701 $ 8,676 $ 8,371 $ 8,484 Provision for loan losses — 235 562 26 1,359 103 356 41 Net interest income after provision for loan losses 9,405 8,723 7,965 8,749 7,342 8,573 8,015 8,443 Non-interest income 647 626 2,259 552 535 518 470 428 Non-interest expense 12,859 6,580 7,794 7,198 8,214 7,524 7,480 7,047 Income before taxes (2,807 ) 2,769 2,430 2,103 (337 ) 1,567 1,005 1,824 Income tax expense (1,017 ) 878 758 647 (181 ) 468 278 568 Net Income $ (1,790 ) $ 1,891 $ 1,672 $ 1,456 $ (156 ) $ 1,099 $ 727 $ 1,256 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 12 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations PCSB Bank is a community-oriented financial institution that provides financial services to individuals and businesses within its market area of Putnam, Southern Dutchess, Rockland and Westchester Counties in New York. The Bank is a state-chartered stock savings bank and its deposits are insured up to applicable limits by the Deposit Insurance Fund of the Federal Deposit Insurance Corporation (“FDIC”). The Bank’s primary regulators are the FDIC and the New York State Department of Financial Services. |
Merger with CMS Bancorp | Merger with CMS Bancorp |
Basis of Presentation | Basis of Presentation |
Use of Estimates | Use of Estimates |
Cash Flows | Cash Flows |
Securities | Securities Securities available for sale are reported at fair value. Unrealized gains and losses on securities available for sale are excluded from earnings and reported as accumulated other comprehensive income or loss (a separate component of equity), net of related income taxes. Premiums and discounts on debt securities are amortized to interest income on a level-yield basis over the terms of the securities. Realized gains and losses on sales of securities are determined based on the amortized cost of the specific securities sold. Management evaluates securities for other-than-temporary impairment (OTTI) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. |
Loans | Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs, unamortized purchase premiums and discounts, and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Interest income on loans is discontinued at the time the loan is ninety days delinquent unless the loan is well secured and in process of collection. Loan purchase premiums and discounts are amortized over the contractual term of the loans Loan origination fees and certain direct loan origination costs are deferred and amortized to interest income as an adjustment to yield over the contractual term of the loans. Unamortized fees and costs on prepaid loans are recognized in interest income at the time of prepayment. |
Purchased Credit Impaired Loans | Purchased Credit Impaired Loans Such purchased credit impaired loans are accounted for individually or aggregated into pools of loans based on common risk characteristics, such as credit score, loan type, and date of origination. The Company estimates the amount and timing of expected cash flows for each loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s or pool’s contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan or pool, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded as a provision for loan losses. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. |
Allowance For Loan Losses | Allowance for Loan Losses Establishing the allowance for loan losses involves significant management judgments utilizing the best information available at the time. Those judgments are subject to further review by the Bank’s regulators. Future adjustments to the allowance for loan losses may be necessary based on changes in economic and real estate market conditions, further information obtained regarding known problem loans, the identification of additional problem loans, and other factors. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for loans evaluated under the Company’s normal loan review procedures. Loans evaluated on an individual basis for impairment may be measured by the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. The Company’s impaired loans are generally collateral dependent. If the fair value of an impaired loan is less than its recorded investment, an impairment allowance is recognized and included in the allowance for loan losses. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over a thirty-six month period, with heaviest weight placed on the most recent periods. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: lending policies, underwriting, charge-off and collection procedures; national and local economic trends and conditions; trends in nature and volume of the loan portfolio; experience, ability, and depth of lending management and other relevant staff; trends in delinquencies, classified loans and restructurings; quality of the loan review system and Board oversight; value of underlying collateral for collateral dependent loans; existence and effect of concentrations and levels; and effects of external factors, such as competition, legal and regulatory factors. The following portfolio segments have been identified: residential, other loans secured, commercial mortgage, construction, commercial, home equity and consumer and installment loans. The risk characteristics of each of the identified portfolio segments are as follows: Residential Loans – residential loans are generally made on the basis of the borrower’s ability to make repayment from his or her employment income or other income, and are secured by real property whose value tends to be more easily ascertainable. Repayment of residential loans is subject to adverse employment conditions in the local economy leading to increased default rate and decreased market values from oversupply in a geographic area. In general, these loans depend on the borrower’s continuing financial stability and, therefore, are likely to be adversely affected by various factors, including job loss, divorce, illness, or personal bankruptcy. Furthermore, the application of various federal and state laws, including federal and state bankruptcy and insolvency laws, may limit the amount that can be recovered on such loans. Other Loans Secured – other loans secured by real estate are commercial loans extended for business purposes where a lien is recorded on real estate as collateral in addition to the business assets. Commercial loans are generally of higher risk than other types of loans as repayment is dependent on the borrower’s ability through business activities to generate sufficient cash flow to repay the loan. However, these loans carry less risk than commercial loans as the real estate collateral provides an additional source of repayment of the debt through the sale of the real estate in the event business conditions erode the borrowers’ capability to repay the debt through cash flow. In addition, the sale of the collateral property would require that any sales proceeds be applied to repay the Company’s loan in order to satisfy the recorded lien. Commercial Mortgage – commercial and multifamily real estate loans are secured by multifamily and nonresidential real estate and generally have larger balances and involve a greater degree of risk than residential real estate loans. Repayment of commercial and multifamily real estate loans depend on the global cash flow analysis of the borrower and the net operating income of the property, the borrower’s expertise, credit history and profitability, and the value of the underlying property. Of primary concern in commercial real estate lending is the borrower’s creditworthiness and the cash flow generated from the property securing the loan. As a result, repayment of such loans may be subject, to a greater extent than residential real estate loans, to adverse conditions in the real estate market or the economy. Commercial and multifamily real estate is also subject to adverse market conditions that cause a decrease in market value or lease rates, obsolescence in location or function and market conditions associated with over supply of units in a specific region. Construction – construction financing is generally considered to involve a higher degree of risk of loss than long-term financing on improved, occupied real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the property’s value at completion of construction and the estimated cost of construction. During the construction phase, a number of factors could result in delays and cost overruns. If the estimate of construction costs proves to be inaccurate, additional funds may be required to be advanced in excess of the amount originally committed to permit completion of the building. If the estimate of value proves to be inaccurate, the value of the building may be insufficient to assure full repayment if liquidation is required. If foreclosure is required on a building before or at completion due to a default, there can be no assurance that all of the unpaid balance of, and accrued interest on, the loan as well as related foreclosure and holding costs will be recovered. Commercial – commercial loans are generally of higher risk than other types of loans and typically are made on the basis of the borrower’s ability to make repayment from the cash flow of the borrower’s business. As a result, the availability of funds for the repayment of commercial loans may depend substantially on the success of the business itself. Furthermore, any collateral securing such loans may depreciate over time, may be difficult to appraise, and may fluctuate in value. Home Equity Lines of Credit – home equity lines of credit consist of both fixed and variable interest rate products. These are primarily home equity loans to residential mortgage customers within the footprint of the primary lending territory. These loans generally will not exceed a combined (i.e., first and second mortgage) loan-to-value ratio of 75 percent at origination. Consumer and Installment Loans – consumer and other loans generally have shorter terms and higher interest rates than one-to-four family mortgage loans. In addition, consumer and other loans expand the products and services we offer to better meet the financial services needs of our customers. Consumer and other loans generally involve greater credit risk than residential mortgage loans because of the difference in the underlying collateral. Repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance because of the greater likelihood of damage to, loss of, or depreciation in the underlying collateral. The remaining deficiency often does not warrant further substantial collection efforts against the borrower beyond obtaining a deficiency judgment. In addition, consumer loan collections depend on the borrower’s personal financial stability. Furthermore, the application of various federal and state laws, including federal and state bankruptcy and insolvency laws, may limit the amount that can be recovered on such loans. |
Foreclosed Real Estate | Foreclosed Real Estate |
Federal Home Loan Bank (FHLB) Stock | Federal Home Loan Bank (FHLB) Stock |
Premises and Equipment | Premises and Equipment |
Bank Owned Life Insurance (BOLI) | Bank Owned Life Insurance (BOLI) |
Goodwill And Other Intangible Assets | Goodwill and Other Intangible Assets Other intangible assets, consisting of a core deposit intangible asset arising from a whole bank acquisition, are amortized on an accelerated method over their estimated useful lives of 10 years. |
Loan Commitments And Related Financial Instruments | Loan Commitments and Related Financial Instruments |
Income Taxes | Income Taxes Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in future years. The effect on deferred tax assets and liabilities of a change in tax laws or rates is recognized in the period that includes the enactment date of the change. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. |
Employee Benefit Plans | Employee Benefit Plans: Employee 401(k) expense is the amount of matching contributions. Pension expense is the net of service and interest cost, return on plan assets and amortization of gains and losses not immediately recognized. SERP expense is the net of interest cost and service cost, which allocates the benefits over years of service. The Holding Company and Bank maintain the PCSB Bank Employee Stock Ownership Plan (the “ESOP”). Compensation expense related to the ESOP is recorded during the period in which the shares become committed to be released to participants. The compensation expense is measured based upon the average fair market value of the stock during the period, and, to the extent that the fair value of the shares committed to be released differs from the original cost of such shares, the difference is recorded as an adjustment to additional paid-in capital. |
Loss Contingencies | Loss Contingencies |
Fair Value of Financial Instrument | Fair Value of Financial Instruments |
Segment Reporting | Segment Reporting |
Reclassification | Reclassifications |
Earnings per share | Earnings per share |
Recent Accounting Pronouncements | The pronouncements discussed below are not intended to be an all-inclusive list, but rather only those pronouncements that could potentially have an impact on our financial position, results of operations or disclosures. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 “Revenue from Contracts with Customers.” The amendments in ASU 2014-09 provide a comprehensive framework for addressing revenue recognition issues that can be applied to all contracts with customers. While the guidance in ASU 2014-09 supersedes most existing industry-specific revenue recognition accounting guidance, much of PCSB Bank’s revenue comes from financial instruments such as debt securities and loans that are outside the scope of the guidance. The amendments in ASU 2014-09 also include improved disclosures to enable users of financial statements to better understand the nature, amount, timing and uncertainty of revenue that is recognized. For public entities, ASU 2014-09, as amended, is effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted for interim and annual reporting periods beginning after December 15, 2016. ASU 2014-09 is not expected to have a material impact on the Company’s consolidated financial position, results of operations or disclosures. In January 2016, the FASB issued ASU 2016-01 “Financial Instruments – Overall.” The amendments in ASU 2016-01 are intended to improve the recognition, measurement, presentation and disclosure of financial assets and liabilities to provide users of financial statements with information that is more useful for decision-making purposes. Among other changes, ASU 2016-01 would require equity securities to be measured at fair value with changes in fair value recognized through net income, but would allow equity securities that do not have readily determinable fair values to be re-measured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments would simplify the impairment assessment of such equity securities and would require enhanced disclosure about these investments. ASU 2016-01 would also require separate presentation of financial assets and liabilities by measurement category and type of instrument, such as securities or loans, on the balance sheet or in the notes, and would eliminate certain other disclosures relating to the methods and assumptions used to estimate fair value. For public entities, the amendments in ASU 2016-01 are effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is not permitted. ASU 2016-01 is not expected to have a material impact on the Company’s consolidated financial position, results of operations or disclosures. In February 2016, the FASB issued ASU 2016-02 “Leases.” ASU 2016-02 affects any entity that enters into a lease and is intended to increase the transparency and comparability of financial statements among organizations. The ASU requires, among other changes, a lessee to recognize on its balance sheet a lease asset and a lease liability for those leases previously classified as operating leases. The lease asset would represent the right to use the underlying asset for the lease term and the lease liability would represent the discounted value of the required lease payments to the lessor. The ASU would also require entities to disclose key information about leasing arrangements. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. Management is currently evaluating the impact that ASU 2016-02 will have on the Company’s consolidated financial position, results of operations and disclosures. In June 2016, the FASB issued ASU 2016-13 “Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 affects entities holding financial assets that are not accounted for at fair value through net income, including loans, debt securities, and other financial assets. The ASU requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected by recording an allowance for current expected credit losses. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption is permitted beginning after December 15, 2018, including interim periods within those fiscal years. Management is currently evaluating the impact that ASU 2016-13 will have on the Company’s consolidated financial position, results of operations and disclosures. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): In March 2017, the FASB issued ASU 2017-08 "Receivables - Non-Refundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities." The ASU requires premiums on callable debt securities to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. ASU 2017-08 is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption is permitted beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2017-08 will not have a material impact on the Company’s consolidated financial position, results of operations or disclosures. |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of Amortized Cost, Gross Unrealized/Unrecognized Gains and Losses and Fair Value of Available for Sale and Held to Maturity Securities | The amortized cost, gross unrealized/unrecognized gains and losses and fair value of available for sale and held to maturity securities at June 30, 2017 and June 30, 2016 were as follows: June 30, 2017 Amortized Gross Fair Cost Gains Losses Value (in thousands) Available for sale: U.S. Government and agency obligations $ 63,630 $ 31 $ (216 ) $ 63,445 Corporate and other debt securities 8,460 58 (36 ) 8,482 Mortgage-backed securities – residential 39,710 363 (143 ) 39,930 Equity securities 32 — — 32 Total available for sale $ 111,832 $ 452 $ (395 ) $ 111,889 Held to maturity: U.S. Government and agency obligations $ 155,559 $ 23 $ (574 ) $ 155,008 Corporate and other debt securities 999 — — 999 Mortgage-backed securities – residential 143,452 828 (497 ) 143,783 Mortgage-backed securities – collateralized mortgage obligations 59,476 146 (235 ) 59,387 Mortgage-backed securities – commercial 24,065 412 (66 ) 24,411 Total held to maturity $ 383,551 $ 1,409 $ (1,372 ) $ 383,588 June 30, 2016 Amortized Gross Fair Cost Gains Losses Value (in thousands) Available for sale: U.S. Government and agency obligations $ 65,953 $ 204 $ (25 ) $ 66,132 Corporate and other debt securities 8,514 132 — 8,646 Mortgage-backed securities – residential 37,043 542 (61 ) 37,524 Equity securities 49 — — 49 Total available for sale $ 111,559 $ 878 $ (86 ) $ 112,351 Held to maturity: U.S. Government and agency obligations $ 145,896 $ 357 $ (51 ) $ 146,202 Mortgage-backed securities – residential 72,842 1,342 (45 ) 74,139 Mortgage-backed securities – collateralized mortgage obligations 30,268 350 (38 ) 30,580 Mortgage-backed securities – commercial 21,673 723 — 22,396 Total held to maturity $ 270,679 $ 2,772 $ (134 ) $ 273,317 |
Fair Value and Carrying Amount of Debt Securities by Contractual Maturity | The following table presents the fair value and carrying amount of debt securities at June 30, 2017 and June 30, 2016, by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Held to maturity Available for sale Carrying Fair Amortized Fair Amount Value Cost Value (in thousands) June 30, 2017: 1 year or less $ 50,486 $ 50,413 $ 16,005 $ 15,988 1 to 5 years 106,073 105,594 54,085 53,975 5 to 10 years — — 2,000 1,964 Mortgage-backed securities 226,992 227,581 39,710 39,930 Total $ 383,551 $ 383,588 $ 111,800 $ 111,857 Held to maturity Available for sale Carrying Fair Amortized Fair Amount Value Cost Value (in thousands) June 30, 2016: 1 year or less $ 22,005 $ 22,033 $ 19,490 $ 19,495 1 to 5 years 118,946 119,120 46,902 47,149 5 to 10 years 632 637 5,127 5,187 Due after 10 years 4,313 4,412 2,948 2,947 Mortgage-backed securities 124,783 127,115 37,043 37,524 Total $ 270,679 $ 273,317 $ 111,510 $ 112,302 |
Investment Securities with Fair Value and Unrealized Losses | The following table provides information regarding investment securities with unrealized/unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position at June 30, 2017 and June 30, 2016: June 30, 2017 Less than 12 months Greater than 12 months Total Unrealized/ Unrealized/ Unrealized/ Fair Unrecognized Fair Unrecognized Fair Unrecognized Value Loss Value Loss Value Loss (in thousands) Available for sale: U.S. Government and agency obligations $ 41,900 $ (200 ) $ 3,993 $ (16 ) $ 45,893 $ (216 ) Corporate and other debt securities 1,964 (36 ) — — 1,964 (36 ) Mortgage-backed securities – residential 18,861 (111 ) 3,200 (32 ) 22,061 (143 ) Total available for sale $ 62,725 $ (347 ) $ 7,193 $ (48 ) $ 69,918 $ (395 ) Held to maturity: U.S. Government and agency obligations $ 113,511 $ (531 ) $ 5,981 $ (43 ) $ 119,492 $ (574 ) Corporate and other debt securities 999 — — — 999 — Mortgage-backed securities – residential 39,754 (467 ) 1,626 (30 ) 41,380 (497 ) Mortgage-backed securities – collateralized mortgage obligations 26,622 (141 ) 4,444 (94 ) 31,066 (235 ) Mortgage-backed securities – commercial 9,092 (66 ) — — 9,092 (66 ) Total held to maturity $ 189,978 $ (1,205 ) $ 12,051 $ (167 ) $ 202,029 $ (1,372 ) June 30, 2016 Less than 12 months Greater than 12 months Total Unrealized/ Unrealized/ Unrealized/ Fair Unrecognized Fair Unrecognized Fair Unrecognized Value Loss Value Loss Value Loss (in thousands) Available for sale: U.S. Government and agency obligations $ 19,462 $ (22 ) $ 1,007 $ (3 ) $ 20,469 $ (25 ) Mortgage-backed securities – residential 11,912 (52 ) 676 (9 ) 12,588 (61 ) Total available for sale $ 31,374 $ (74 ) $ 1,683 $ (12 ) $ 33,057 $ (86 ) Held to maturity: U.S. Government and agency obligations $ 22,000 $ (44 ) $ 7,993 $ (7 ) $ 29,993 $ (51 ) Mortgage-backed securities – residential 6,886 (19 ) 4,895 (26 ) 11,781 (45 ) Mortgage-backed securities – collateralized mortgage obligation 4,420 (20 ) 1,333 (18 ) 5,753 (38 ) Total held to maturity $ 33,306 $ (83 ) $ 14,221 $ (51 ) $ 47,527 $(134) |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Summary of Loans Receivable | Loans receivable are summarized as follows at June 30 (in thousands): 2017 2016 Mortgage loans: Residential $ 217,778 $ 226,073 Commercial 437,651 385,827 Construction 22,404 25,050 Net deferred loan origination costs 397 319 Total mortgages 678,230 637,269 Commercial and consumer loans: Commercial loans 33,297 40,607 Other loans secured 46,802 49,993 Home equity lines of credit 41,927 41,180 Consumer and installment loans 13,765 16,476 Net deferred loan origination costs 777 853 Total commercial and consumer loans 136,568 149,109 Total loans receivable 814,798 786,378 Allowance for loan losses (5,150 ) (4,042 ) Loans receivable, net $ 809,648 $ 782,336 |
Summary of Activity in Allowance for Loan Losses by Portfolio Segment | The following tables present the activity in the allowance for loan losses by portfolio segment for the years ended June 30, 2017, 2016 and 2015 (in thousands): For the year ended June 30, 2017 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 237 $ 290 $ (237 ) $ 70 $ 360 Commercial 2,149 421 — 19 2,589 Construction 269 989 (108 ) — 1,150 Commercial loans 604 (1,387 ) — 1,223 440 Other loans secured 397 195 (325 ) 98 365 Home equity lines of credit 73 3 — — 76 Consumer and installment loans 313 243 (416 ) 4 144 Acquired: Residential — 64 (38 ) — 26 Commercial loans — 2 (2 ) — — Consumer and installment loans — 3 (3 ) — — Total $ 4,042 $ 823 $ (1,129 ) $ 1,414 $ 5,150 For the year ended June 30, 2016 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 193 $ 444 $ (400 ) $ — $ 237 Commercial 1,766 215 (10 ) 178 2,149 Construction 100 (23 ) — 192 269 Commercial loans 1,266 1,006 (1,668 ) — 604 Other loans secured 416 (19 ) — — 397 Home equity lines of credit 69 28 (24 ) — 73 Consumer and installment loans 111 208 (31 ) 25 313 Total $ 3,921 $ 1,859 $ (2,133 ) $ 395 $ 4,042 For the year ended June 30, 2015 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 219 $ 144 $ (175 ) $ 5 $ 193 Commercial 1,622 497 (361 ) 8 1,766 Construction 828 (401 ) (327 ) — 100 Commercial loans 516 1,221 (1,181 ) 710 1,266 Other loans secured 564 (148 ) — — 416 Home equity lines of credit 186 (80 ) (43 ) 6 69 Consumer and installment loans 122 93 (104 ) — 111 Total $ 4,057 $ 1,326 $ (2,191 ) $ 729 $ 3,921 |
Summary of Balance in Allowance for Loan Losses and Recorded investment in Loans by Portfolio Segment, and Based on Impairment Method | The following tables present the balance in the allowance for loan losses and the recorded investment in loans, excluding net deferred fees and accrued interest, by portfolio segment, and based on impairment method as of June 30, 2017 and June 30, 2016 (in thousands): June 30, 2017 Loans Allowance for Loan Losses Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired With Deteriorated Credit Quality Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired With Deteriorated Credit Quality Total Residential $ 4,471 $ 211,983 $ 1,324 $ 217,778 $ 131 $ 229 $ 26 $ 386 Commercial 2,411 433,416 1,824 437,651 — 2,589 — 2,589 Construction 3,661 18,743 — 22,404 997 153 — 1,150 Commercial loans 356 32,941 — 33,297 7 433 — 440 Other loans secured 5,813 40,989 — 46,802 2 363 — 365 Home equity lines of credit 610 41,140 177 41,927 5 71 — 76 Consumer and installment loans — 13,723 42 13,765 — 144 — 144 $ 17,322 $ 792,935 $ 3,367 $ 813,624 $ 1,142 $ 3,982 $ 26 $ 5,150 June 30, 2016 Loans Allowance for Loan Losses Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired With Deteriorated Credit Quality Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired With Deteriorated Credit Quality Total Residential $ 5,483 $ 219,310 $ 1,280 $ 226,073 $ — $ 237 $ — $ 237 Commercial 9,277 374,772 1,778 385,827 — 2,149 — 2,149 Construction 144 24,906 — 25,050 83 186 — 269 Commercial loans 2,494 38,113 — 40,607 — 604 — 604 Other loans secured 6,465 43,528 — 49,993 2 395 — 397 Home equity lines of credit 417 40,583 180 41,180 — 73 — 73 Consumer and installment loans 585 15,807 84 16,476 175 138 — 313 $ 24,865 $ 757,019 $ 3,322 $ 785,206 $ 260 $ 3,782 $ — $ 4,042 |
Summary of Loans Individually Evaluated for Impairment (Excluding Loans Acquired with Deteriorated Credit Quality) by Class of Loans | The following tables present information related to loans individually evaluated for impairment (excluding loans acquired with deteriorated credit quality) by class of loans as of June 30, 2017, 2016 and 2015 (in thousands): Year ended June 30, 2017 June 30, 2017 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 4,216 $ 4,014 $ — $ 4,238 $ 42 Commercial 2,935 2,411 — 2,448 137 Construction 404 404 — 406 12 Commercial loans 276 277 — 278 15 Other loans secured 9,157 4,702 — 4,787 224 Home equity lines of credit 599 599 — 599 (2 ) With an allowance recorded: Residential 395 457 131 432 15 Construction 3,257 3,257 997 3,015 71 Commercial loans 79 79 7 89 4 Other loans secured 1,111 1,111 2 1,135 57 Home equity lines of credit 11 11 5 11 — Total $ 22,440 $ 17,322 $ 1,142 $ 17,438 $ 575 Year ended June 30, 2016 June 30, 2016 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 5,683 $ 5,483 $ — $ 5,577 $ 6 Commercial 9,947 9,277 — 9,324 88 Construction 12 12 — 13 — Commercial loans 5,250 2,494 — 3,971 2 Other loans secured 7,762 6,408 — 6,549 69 Home equity lines of credit 445 417 — 430 — Consumer and installment loans 314 236 — 235 — With an allowance recorded: Construction 1,324 132 83 132 — Other loans secured 57 57 2 62 1 Consumer and installment 353 349 175 360 11 Total $ 31,147 $ 24,865 $ 260 $ 26,653 $ 177 Year ended June 30, 2015 June 30, 2015 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 7,064 $ 7,082 $ — $ 6,216 $ 146 Commercial 9,395 9,121 — 7,365 242 Construction 1,984 2,020 — 4,271 — Commercial loans — — — 3,266 175 Other loans secured 11,528 10,634 — 11,570 587 Home equity lines of credit 457 438 — 254 1 Consumer and installment loans 5 5 — 1 — With an allowance recorded: Commercial 511 301 34 60 — Construction 5,800 4,617 675 1,669 18 Other loans secured 43 43 — 36 — Consumer and installment 478 375 29 131 5 Total $ 37,265 $ 34,636 $ 738 $ 34,839 $ 1,174 |
Nonaccrual Loans and in Loans Past Due over 90 Days Still on Accrual Status by Class of Loans | The following table presents the recorded investment in nonaccrual loans and in loans past due over 90 days still on accrual status, by class of loans as of June 30, 2017 and June 30, 2016 (in thousands): Loans Past Due Over 90 Days Nonaccrual and Still Accruing June 30, June 30, June 30, June 30, 2017 2016 2017 2016 Originated: Residential $ 2,581 $ 4,717 $ — $ — Commercial — 300 — — Construction 3,661 144 — — Commercial loans — 1,615 — — Other loans secured 2,959 3,433 — — Home equity lines of credit 302 405 — — Consumer and installment loans — 584 4 Acquired: Residential 1,776 1,164 — — Commercial 497 — — — Home equity lines of credit 296 197 — — Total $ 12,072 $ 12,559 $ — $ 4 |
Aging of Recorded Investment in Past Due Loans by Class of Loans | The following tables present the aging of the recorded investment in past due loans by class of loans as of June 30, 2017 and June 30, 2016 (in thousands): June 30, 2017 90 Days or 30-59 60-89 More Past Total Past Days Past Due Days Past Due Due Due Current Total Originated: Residential $ 94 $ 275 $ 1,973 $ 2,342 $ 153,390 $ 155,732 Commercial — — — — 355,247 355,247 Construction — — 3,661 3,661 18,743 22,404 Commercial loans — — — — 31,613 31,613 Other loans secured — — 544 544 43,612 44,156 Home equity lines of credit — 199 103 302 35,246 35,548 Consumer and installment loans — — — — 13,435 13,435 Total originated 94 474 6,281 6,849 651,286 658,135 Acquired: Residential 237 463 1,472 2,172 59,874 62,046 Commercial — — 1,054 1,054 81,350 82,404 Commercial loans — — — — 1,684 1,684 Other loans secured — — — — 2,646 2,646 Home equity lines of credit — — 296 296 6,083 6,379 Consumer and installment loans — — — — 330 330 Total acquired 237 463 2,822 3,522 151,967 155,489 Total $ 331 $ 937 $ 9,103 $ 10,371 $ 803,253 $ 813,624 June 30, 2016 90 Days or 30-59 60-89 More Past Total Past Days Past Due Days Past Due Due Due Current Total Originated: Residential $ 430 $ 573 $ 2,232 $ 3,235 $ 150,010 $ 153,245 Commercial — — 300 300 291,044 291,344 Construction — — 144 144 24,590 24,734 Commercial loans — 760 1,615 2,375 35,621 37,996 Other loans secured — — 100 100 47,175 47,275 Home equity lines of credit — — 113 113 34,340 34,453 Consumer and installment loans 5 — 589 594 15,280 15,874 Total originated 435 1,333 5,093 6,861 598,060 604,921 Acquired: Residential 732 — 1,073 1,805 71,023 72,828 Commercial — — 520 520 93,963 94,483 Construction — — — — 316 316 Commercial loans — — — — 2,611 2,611 Other loans secured — — — — 2,718 2,718 Home equity lines of credit 296 — 197 493 6,234 6,727 Consumer and installment loans — — — — 602 602 Total acquired 1,028 0 1,790 2,818 177,467 180,285 Total $ 1,463 $ 1,333 $ 6,883 $ 9,679 $ 775,527 $ 785,206 |
Summary of Loans by Class Modified in Troubled Debt Restructurings | The following table presents loans by class modified in troubled debt restructurings that occurred during the years ended June 30, 2017, 2016 and 2015: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Year ended June 30, 2017: Residential 1 $ 165 $ 210 Commercial loans 1 276 276 2 $ 441 $ 486 Year ended June 30, 2016: Residential 3 $ 1,697 $ 1,697 Commercial 1 1,178 1,178 Other loans secured 1 64 64 Home equity lines of credit 1 200 200 6 $ 3,319 $ 3,319 Year ended June 30, 2015: Residential 4 $ 2,080 $ 2,080 Commercial 3 4,103 4,103 Construction 1 1,742 1,742 Commercial loans 3 1,071 1,071 Other loans secured 3 183 183 Home equity lines of credit 1 8 8 15 $ 9,187 $ 9,187 |
Summary of Risk Category of Loans by Class of Loans | Based on the most recent analysis performed, the risk category of loans by class of loans is as follows (in thousands): June 30, 2017 Pass Special Mention Substandard Doubtful Total Originated: Residential $ 153,165 $ — $ 2,567 $ — $ 155,732 Commercial 352,203 134 2,910 — 355,247 Construction 18,743 — 3,661 — 22,404 Commercial loans 28,944 — 2,669 — 31,613 Other loans secured 37,267 — 6,889 — 44,156 Home equity lines of credit 35,246 58 244 — 35,548 Consumer and installment loans 13,405 — 30 — 13,435 Total originated 638,973 192 18,970 — 658,135 Acquired: Residential 58,665 — 3,381 — 62,046 Commercial 80,082 — 2,322 — 82,404 Commercial loans 1,684 — — — 1,684 Other loans secured 2,646 — — — 2,646 Home equity lines of credit 5,906 — 473 — 6,379 Consumer and installment loans 330 — — — 330 Total acquired 149,313 — 6,176 — 155,489 Total $ 788,286 $ 192 $ 25,146 $ — $ 813,624 June 30, 2016 Pass Special Mention Substandard Doubtful Total Originated: Residential $ 147,944 $ 181 $ 5,120 $ — $ 153,245 Commercial 278,491 2,101 10,752 — 291,344 Construction 24,590 — 144 — 24,734 Commercial loans 30,916 2,004 5,076 — 37,996 Other loans secured 38,382 109 8,784 — 47,275 Home equity lines of credit 34,047 — 406 — 34,453 Consumer and installment loans 15,069 24 432 349 15,874 Total originated $ 569,439 $ 4,419 $ 30,714 $ 349 $ 604,921 Acquired: Residential 70,629 — 2,199 — 72,828 Commercial 91,380 949 2,154 — 94,483 Construction 316 — — — 316 Commercial loans 2,611 — — — 2,611 Other loans secured 2,718 — — — 2,718 Home equity lines of credit 6,529 — 198 — 6,727 Consumer and installment loans 602 — — — 602 Total acquired 174,785 949 4,551 — 180,285 Total $ 744,224 $ 5,368 $ 35,265 $ 349 $ 785,206 |
Schedule of Carrying Amount of Purchased Credit Impaired Loans | The carrying amount of those loans as of June 30, 2017 and June 30, 2016 is as follows (in thousands): June 30, 2017 2016 Residential $ 1,298 $ 1,280 Commercial 1,824 1,778 Home equity lines of credit 177 180 Consumer and installment loans 42 84 Carrying amount, net of allowance of $26 and $0, respectively $ 3,341 $ 3,322 |
Summary of Accretable Yield, or Income Expected to be Collected for Acquired Loans | Accretable yield, or income expected to be collected, for acquired loans is as follows (in thousands): Year ended June 30, 2017 2016 2015 Beginning balance $ 578 $ 713 $ — New loans acquired — — 750 Accretion income (190 ) (185 ) (37 ) Reclassification from non-accretable difference 15 132 — Disposals — (82 ) — Ending balance $ 403 $ 578 $ 713 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Property Plant And Equipment [Abstract] | |
Summary of Premises and Equipment | Premises and equipment are summarized as follows at June 30 (in thousands): 2017 2016 Land $ 1,997 $ 1,997 Building and Leasehold improvements 11,128 9,601 Furniture, fixtures and equipment 5,841 4,946 Construction and improvements in process 3,015 1,967 21,981 18,511 Less: accumulated depreciation and amortization (9,022 ) (7,737 ) Total premises and equipment, net $ 12,959 $ 10,774 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Change in Goodwill | The change in goodwill during the years ended June 30, 2017, 2016 and 2015 are as follows (in thousands): 2017 2016 2015 Balance at July 1 $ 6,106 $ 5,843 $ — Acquired goodwill – CMS Bancorp — — 5,843 Adjustment to CMS goodwill — 263 — Total at June 30, $ 6,106 $ 6,106 $ 5,843 |
Schedule of Acquired Intangible Assets | Acquired Intangible Assets: Acquired intangible assets were as follows at June 30 (in thousands): 2017 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Core deposit intangible $ 887 $ (328 ) $ 887 $ (185 ) |
Schedule of Estimated Amortization Expense | Estimated amortization expense for each of the next five fiscal years ended June 30 (in thousands): 2018 $ 126 2019 110 2020 94 2021 78 2022 62 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Deposits [Abstract] | |
Summary of Deposit Balances | Deposit balances are summarized as follows at June 30, 2017 and 2016 (in thousands): 2017 2016 Demand $ 136,361 $ 122,740 NOW Accounts 115,527 111,455 Money market accounts 29,097 31,194 Savings 512,697 516,249 Time deposits 294,779 331,057 Total $ 1,088,461 $ 1,112,695 |
Scheduled Maturities of Time Deposits | Scheduled maturities of time deposits were as follows as of June 30, 2017 and 2016 and exclude fair value adjustments on acquired time deposits (in thousands): 2017 2016 Within 1 year $ 107,097 $ 169,260 1 year to 2 years 62,331 44,762 2 years to 3 years 31,143 49,745 3 years to 4 years 41,508 26,782 4 years to 5 years 52,503 40,490 Thereafter 197 18 Total $ 294,779 $ 331,057 |
FHLB and Other Borrowings (Tabl
FHLB and Other Borrowings (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Federal Home Loan Banks [Abstract] | |
Maturity Schedule of Advances | The maturity schedule of advances is summarized as follows as of June 30 (in thousands): 2017 2016 Amount Due Weighted Avg. Rate Amount Due Weighted Avg. Rate Within 1 year $ 23,757 1.27 % $ 16,118 0.80 % 1 year to 2 years 10,125 1.70 121 2.62 2 years to 3 years 5,128 1.81 125 2.62 3 years to 4 years 131 2.62 128 2.62 4 years to 5 years 135 2.62 131 2.62 Thereafter 3,322 2.62 3,458 2.62 Total $ 42,598 1.55 % $ 20,081 1.16 % |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Schedule of Contract Amounts of Credit-related Financial Instruments | The contract amounts of credit-related financial instruments at June 30, 2017 and 2016, are summarized below (in thousands): 2017 2016 Commitments to originate loans $ 77,600 $ 62,773 Unused lines of credit 45,439 58,788 Standby letter of credit 705 732 |
Summary of Rent Commitments Before Considering Renewal Options | Rent commitments, before considering renewal options that generally are present, were as follows as of June 30, 2017 (in thousands): Within 1 year $ 2,359 1 year to 2 years 2,024 2 years to 3 years 1,748 3 years to 4 years 1,484 4 years to 5 years 1,435 Thereafter 7,395 Total $ 16,445 |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Summary of Accumulated Other Comprehensive Income (Loss) | The following is a summary of the accumulated other comprehensive income (loss) balances, net of tax (in thousands): Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2016 $ 523 $ (7,683 ) $ (810 ) $ (7,970 ) Other comprehensive income (loss) before reclassifications (735 ) 3,973 (755 ) 2,483 Reclassification Adjustment for expense included in salaries and employee benefits — 89 93 182 Less tax effect (249 ) 1,381 (1,222 ) (90 ) Net other comprehensive income (loss) (486 ) 2,681 560 2,755 Balance at June 30, 2017 $ 37 $ (5,002 ) $ (250 ) $ (5,215 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2015 $ 323 $ (4,311 ) $ (734 ) $ (4,722 ) Other comprehensive income (loss) before reclassifications 255 (5,022 ) 89 (4,678 ) Reclassification Adjustment for expense included in salaries and employee benefits — 398 84 482 Less tax effect 55 (1,252 ) 249 (948 ) Net other comprehensive income (loss) 200 (3,372 ) (76 ) (3,248 ) Balance at June 30, 2016 $ 523 $ (7,683 ) $ (810 ) $ (7,970 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2014 $ 418 $ (2,622 ) $ (642 ) $ (2,846 ) Other comprehensive income (loss) before reclassifications (159 ) (3,044 ) 237 (2,966 ) Reclassification Adjustment for expense included in salaries and employee benefits — (225 ) 84 (141 ) Less tax effect (64 ) (1,580 ) 413 (1,231 ) Net other comprehensive income (loss) (95 ) (1,689 ) (92 ) (1,876 ) Balance at June 30, 2015 $ 323 $ (4,311 ) $ (734 ) $ (4,722 ) |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Schedule of Cash Consideration Paid, Assets Acquired and Liabilities Assumed Recorded at Acquisition Date Fair Values, and Identifiable Intangible Assets Recorded at Fair Value | The assets and liabilities in the CMS Bank acquisition were recorded at their fair value based on management's best estimate based on information available at the date of acquisition. The acquisition was accounted for under the acquisition method of accounting in accordance with FASB ASC 805, “Business Combinations.” Accordingly, the Consideration paid (in thousands): Amount Cash consideration paid to CMS shareholders $ 23,182 As Acquired Fair Value Adjustments As Recorded at Acquisition Cash $ 2,533 $ $ 2,533 Available for sale investment securities 41,082 41,082 Loans 218,796 (4,018 ) a 214,778 Premises and equipment 2,201 841 b 3,042 Other real estate owned 183 183 Core deposit intangible 887 c 887 Deferred tax assets, net 193 1,829 d 2,022 Other assets 2,079 (177 ) e 1,902 Deposits (207,391 ) (870 ) f (208,261 ) Federal Home Loan Bank advances (36,050 ) (36,050 ) Other Liabilities (4,984 ) (58 ) e (5,042 ) Total Identifiable net assets $ 18,642 $ (1,566 ) $ 17,076 Goodwill Created $ 6,106 Explanation of fair value adjustments: a) The adjustment represents the write down of the book value of loans to their estimated fair value based on current interest rates and expected cash flows, which includes an estimate of expected loan loss inherent in the portfolio. b) The adjustment represents the excess of the premises and equipment fair value over their book values, based on recent appraisals. c) The adjustment represents the economic value of the acquired core deposit portfolio. The core deposit intangible will be amortized over a period of 10 years based on the sum-of-of-years-digits method. d) The adjustment represents the net deferred tax asset resulting from the fair value adjustments related to acquired assets and liabilities, as well as identifiable intangibles. e) The adjustment represents the write down of receivables and accrued liabilities to their net realizable value. f) The adjustment represents the write down of the book value of time deposits to their estimated fair value based on current interest rates. |
Fair Value of Financial Instr38
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets and Liabilities Measured at Fair Value | Assets and liabilities measured at fair value are summarized below (in thousands): Fair Value Measurements Level 1 Level 2 Level 3 Total June 30, 2017: Measured on a recurring basis: Available for sale securities: U.S. Government and agency obligations $ — $ 63,445 $ — $ 63,445 Corporate and other debt securities — 8,482 — 8,482 Mortgage-backed securities – residential — 39,930 — 39,930 Equity securities — 32 — 32 Total assets at fair value $ — $ 111,889 $ — $ 111,889 Measured on a non-recurring basis: Impaired loans: Residential mortgages $ — $ — $ 1,126 $ 1,126 Construction — — 2,260 2,260 Commercial — — 72 72 Other loans secured — — 1,609 1,609 Home equity lines of credit — — 5 5 Foreclosed real estate — — 977 977 Total assets at fair value $ — $ — $ 6,049 $ 6,049 Fair Value Measurements Level 1 Level 2 Level 3 Total June 30, 2016: Measured on a recurring basis: Available for sale securities: U.S. Government and agency obligations $ — $ 66,132 $ — $ 66,132 Corporate and other debt securities — 8,646 — 8,646 Mortgage-backed securities – residential — 37,524 — 37,524 Equity securities — 49 — 49 Total assets at fair value $ — $ 112,351 $ — $ 112,351 Impaired loans: Residential mortgages $ — $ — $ 913 $ 913 Construction — — 49 49 Commercial loans — — 54 54 Consumer and installment loans — — 175 175 Foreclosed real estate — — 905 905 Total assets at fair value $ — $ — $ 2,096 $ 2,096 |
Summary of Quantitative Information about Level 3 Fair Value Measurements for Selected Financial Instruments Measured at Fair Value on Non-recurring Basis | The following tables present quantitative information about Level 3 fair value measurements for selected financial instruments measured at fair value on a non-recurring basis at June 30, 2017 and June 30, 2016 (in thousands): Valuation Unobservable Range or Fair Value Technique(s) Input(s) Rate Used June 30, 2017: Impaired loans - residential mortgages $ 1,126 Sales comparison Adjustments for differences in sales comparables -5.1% to 7.8% Discounted cash flow Discount rate 5.4% to 6.3% Impaired loans - construction 2,260 Cost approach Discount for distressed property 50.0% Impaired loans - commercial 72 Discounted cash flow Adjustments for differences in sales comparables 7.0% to 7.5% Impaired loans - other loans secured 1,609 Discounted cash flow Discount rate 6.0% Sales comparison Adjustments for differences in sales comparables 0.0% Impaired loans - home equity lines of credit 5 Discounted cash flow Discount rate 6.3% Foreclosed real estate 977 Sales comparison Adjustments for differences in sales comparables -23.4% to 7.2% June 30, 2016: Impaired loans - residential mortgages $ 913 Sales comparison Adjustments for differences in sales comparables -2.0% to 13.3% Impaired loans - construction 49 Discounted cash flow Discount rate 1.0% Impaired loans - other loans secured 54 Discounted cash flow Discount rate 4.5% Impaired loans - consumer and installment loans 175 Discounted cash flow Discount rate 4.3% Foreclosed real estate 905 Sales comparison Adjustments for differences in sales comparables -14.3% to 7.5% |
Summary of Carrying Amounts and Estimated Fair Values of Bank's Financial Assets and Liabilities | The following is a summary of the carrying amounts and estimated fair values of the Company’s financial assets and liabilities (in thousands) (none of which are held for trading purposes): Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total June 30, 2017: Financial assets: Cash and cash equivalents $ 60,486 $ 60,486 $ — $ — $ 60,486 Investment securities held to maturity 383,551 — 383,318 270 383,588 Investment securities available for sale 111,889 — 111,889 — 111,889 Loans receivable, net 809,648 — — 817,814 817,814 Accrued interest receivable 3,693 — 1,243 2,450 3,693 Federal Home Loan Bank stock 3,132 N/A N/A N/A N/A Financial liabilities: Demand, NOW, money market deposits and savings accounts $ 793,681 $ 793,681 $ — $ — $ 793,681 Time certificate deposits 294,780 — 297,508 — 297,508 Mortgage escrow funds 8,084 8,084 — — 8,084 FHLB advances 42,598 — 45,504 — 45,504 June 30, 2016: Financial assets: Cash and cash equivalents $ 41,578 $ 41,578 $ — $ — $ 41,578 Investment securities held to maturity 270,679 — 273,032 285 273,317 Investment securities available for sale 112,351 — 112,351 — 112,351 Loans receivable, net 782,336 — — 799,242 799,242 Accrued interest receivable 3,361 — 958 2,403 3,361 Federal Home Loan Bank stock 2,047 N/A N/A N/A N/A Financial liabilities: Demand, NOW, money market deposits and savings accounts $ 781,638 $ 781,638 $ — $ — $ 781,638 Time certificate deposits 331,057 — 334,290 — 334,290 Mortgage escrow funds 7,023 7,023 — — 7,023 FHLB advances 20,081 — 20,171 — 20,171 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) are summarized as follows for the years ended June 30 (in thousands): 2017 2016 2015 Current tax expense (benefit) Federal $ 1,344 $ (6 ) $ 406 State (52 ) (476 ) (290 ) 1,292 (482 ) 116 Deferred tax expense Federal (52 ) 1,216 183 State (21 ) 250 (53 ) (73 ) 1,466 130 State tax valuation allowances, net of federal benefit 47 149 456 Total $ 1,266 $ 1,133 $ 702 |
Schedule of Effective Income Tax Rate Reconciliation | Effective tax rates differ from federal statutory rate of 34% applied to income before income taxes due to the following (in thousands): 2017 2016 2015 Tax at federal statutory rate of 34% $ 1,529 $ 1,380 $ 411 State Taxes, net of federal benefit — — 229 Tax-exempt income (47 ) (49 ) (56 ) BOLI income (211 ) (156 ) (101 ) Non-deductible acquisition related costs — — 139 Other, net (5 ) (42 ) 80 Total $ 1,266 $ 1,133 $ 702 |
Schedule of Deferred Tax Assets and Liabilities | Year-end deferred tax assets and liabilities were due to the following (in thousands): 2017 2016 Deferred Tax Assets: Allowance for Loan Losses $ 1,983 $ 1,568 Deferred compensation 1,071 911 Purchase accounting adjustments 277 542 Deferred rent 380 263 Other compensation loss (defined benefit plans) 2,706 4,375 Depreciation of premises and equipment 405 417 NOL carryforward 602 1,066 Charitable contribution carryforward 1,820 139 Nonaccrual loan interest 540 661 Other 104 54 Total deferred tax assets 9,888 9,996 Deferred tax liabilities: Prepaid pension costs 3,622 2,393 Deferred loan costs and fees, net 457 463 Other comprehensive income (securities) 19 269 Other 368 102 Total deferred tax liabilities 4,466 3,227 Deferred tax asset valuation allowance (652 ) (605 ) Net Deferred Tax Asset $ 4,770 $ 6,164 |
Post-Retirement Benefits (Table
Post-Retirement Benefits (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |
Shares Held by ESOP | Shares held by the ESOP include the following: June 30, 2017 Allocated — Committed to be allocated 26,975 Unallocated 1,426,234 Total 1,453,209 |
Employee Pension Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Summary of Plan's Funded Status | The following is a summary of the plan’s funded status (in thousands) as of June 30, 2017 and 2016 (the measurement date for financial reporting purposes): 2017 2016 Change in benefit obligation: Beginning benefit obligation $ 28,670 $ 25,021 Service Cost 602 626 Interest Cost 1,002 1,086 Actuarial (Gain) Loss (2,013 ) 2,923 Benefits Paid (828 ) (822 ) Settlements (1,301 ) (164 ) Curtailment (518 ) — Ending benefit obligation 25,614 28,670 Change in plan assets, at fair value: Beginning plan assets 23,215 24,503 Actual return 3,358 (302 ) Employer contributions 3,000 — Benefits paid (828 ) (822 ) Settlements (1,301 ) (164 ) Ending Plan assets 27,444 23,215 Funded Status $ 1,830 $ (5,455 ) Accumulated Benefit Obligation $ 25,614 $ 28,167 |
Summary of Net Period Pension Cost, Contributions and Benefits Paid | The following is a summary of net period pension cost, contributions and benefits paid for the years ended June 30 (in thousands): 2017 2016 Net period pension cost $ (224 ) $ 483 Employer contributions 3,000 — Benefits paid 828 822 |
Summary of Pre-tax Amounts Recognized in Accumulated Other Comprehensive Loss | Pre-tax amounts recognized in accumulated other comprehensive loss at June 30 consist of (in thousands): 2017 2016 Net loss $ 7,579 $ 12,751 Prior service (credit) cost — (1,110 ) $ 7,579 $ 11,641 |
Schedule of Net Periodic Pension Cost and Other Amounts Recognized in Other Comprehensive Income | Net periodic pension cost and other amounts recognized in other comprehensive income for the years ended June 30 (in thousands): 2017 2016 2015 Service cost $ 602 $ 626 $ 582 Interest cost 1,002 1,086 949 Expected return on plan assets (1,917 ) (1,796 ) (1,710 ) Amortization of prior net loss 1,200 854 513 Amortization of prior service cost (192 ) (287 ) (287 ) Gain on curtailment (919 ) — — New past service liability — — — Net periodic (credit) cost $ (224 ) $ 483 $ 47 |
Schedule of Benefit Payments which Reflects Expected Future Service | The following benefit payments are expected for the years ending June 30, (in thousands): 2018 $ 1,187 2019 1,252 2020 1,283 2021 1,338 2022 1,396 Following five years 7,089 |
Schedule of Weighted-Average Assumptions Used to Determine Pension Benefit Obligations and Net Periodic Pension Cost | Weighted-average assumptions used to determine pension benefit obligations: 2017 2016 Discount Rate 3.87 % 3.61 % Rate of compensation increase N/A 3.00 % Weighted-average assumptions used to determine net periodic pension cost are described in the table below. As a result of a pension plan freeze on February 28, 2017, the Company utilized different assumptions to determine periodic pension cost for the remaining portion of the year ended June 30, 2017 subsequent to the freeze than had been used prior to the freeze: 3/1/17 to 6/30/17 7/1/16 to 2/28/17 Year ended June 30, 2016 Discount Rate 4.04 % 3.61 % 4.44 % Expected return on plan assets 7.50 % 7.50 % 7.50 % Rate of compensation increase N/A 3.00 % 3.00 % |
Schedule of Actual Pension Plan Asset Allocation, Target Allocation and Expected Long-Term Rate of Return by Asset Category | The Company’s actual pension plan asset allocation, target allocation and expected long-term rate of return by asset category are as follows: Percentage of Plan Target Assets at Year-End Asset Category Allocation 2017 2016 Equity mutual funds and common/collective trusts 65 % 65 % 58 % Fixed income common/collective trusts 34 34 37 Cash equivalents 1 1 5 Total 100 % 100 % 100 % |
Schedule of Fair Value of Plan Assets | The fair value of the plan assets at June 30, 2017 and 2016, by asset category, is as follows (in thousands): Fair Value Measurements Using Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) June 30, 2017: Plan assets Equity mutual funds and common/collective trusts $ 17,704 $ — $ 17,704 $ — Fixed income common/collective trusts 9,451 — 9,451 — Cash equivalents 289 289 — — Total $ 27,444 $ 289 $ 27,155 $ — June 30, 2016: Plan assets Equity mutual funds and common/collective trusts $ 13,500 $ — $ 13,500 $ — Fixed income common/collective trusts 8,684 — 8,684 — Cash equivalents 1,031 1,031 — — Total $ 23,215 $ 1,031 $ 22,184 $ — |
Supplemental Retirement Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Periodic Pension Cost and Other Amounts Recognized in Other Comprehensive Income | Net periodic pension cost and other amounts recognized in other comprehensive income for the years ended June 30 (in thousands): 2017 2016 2015 Service cost $ 398 $ 322 $ 288 Interest cost 124 133 118 Amortization of prior net loss 93 84 84 Net periodic cost $ 615 $ 539 $ 490 |
Schedule of Benefit Payments which Reflects Expected Future Service | The following benefit payments, which reflect expected future service, are expected for the years ending June 30 (in thousands): 2018 $ 272 2019 272 2020 272 2021 3,021 2022 272 Following five years 2,736 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Banking And Thrift [Abstract] | |
Summary of Company's and Bank's Actual Capital Amounts and Ratios Compared to Required Ratios for Minimum Capital Adequacy and for Classification as Well Capitalized | The following is a summary of the Company’s and Bank’s actual capital amounts and ratios as of June 30, 2017 and June 30, 2016, compared to the required ratios for minimum capital adequacy and for classification as well capitalized (dollars in thousands): For Capital Adequacy To Be Well Capitalized Under Prompt Corrective Action Bank Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio June 30, 2017: PCSB Bank Leverage (Tier 1) $ 190,990 13.7 % $ 55,949 4.0 % $ 69,936 5.0 % Risk-based: Common Tier 1 190,990 21.7 39,631 4.5 57,245 6.5 Tier 1 190,990 21.7 52,841 6.0 70,455 8.0 Total 196,140 22.3 70,455 8.0 88,069 10.0 PCSB Financial Corporation Leverage (Tier 1) $ 278,528 20.0 % $ 55,839 4.0 % N/A Risk-based: Common Tier 1 278,528 31.6 39,631 4.5 N/A Tier 1 278,528 31.6 52,841 6.0 N/A Total 283,678 32.2 70,455 8.0 N/A June 30, 2016: PCSB Bank Leverage (Tier 1) $ 110,888 8.9 % $ 49,748 4.0 % $ 62,185 5.0 % Risk-based: Common Tier 1 110,888 13.5 37,036 4.5 53,497 6.5 Tier 1 110,888 13.5 49,382 6.0 65,842 8.0 Total 110,888 14.0 65,842 8.0 82,303 10.0 PCSB Financial Corporation Leverage (Tier 1) N/A N/A N/A Risk-based: Common Tier 1 N/A N/A N/A Tier 1 N/A N/A N/A Total N/A N/A N/A |
Parent Company Only Financial42
Parent Company Only Financial Statements (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Consolidated Balance Sheets | The following are the financial statements of the Company (Parent only) as of and for the year ended June 30, 2017 (dollars in thousands). The Company was established as of December 9, 2016, therefore prior period financial information is not available. June 30, 2017 Assets Cash and cash equivalents $ 71,273 Investment in Bank 192,308 ESOP Loan receivable 14,532 Other Assets 1,888 Total Assets $ 280,001 Liabilities and stockholders' equity Other Liabilities 155 Stockholders' equity 279,846 Total Liabilities and stockholders’ equity $ 280,001 |
Consolidated Statements of Operations | For the year ended June 30, 2017 Interest Income $ 125 Equity in income of Bank 1,055 Contribution to PCSB Foundation 5,000 Other non-interest expenses 105 Income before income tax (benefit) (3,925 ) Income tax (benefit) (1,693 ) Net income $ (2,232 ) |
Consolidated Statements of Cash Flows | For the year ended June 30, 2017 Cash Flows from Operating Activities: Net income $ (2,232 ) Adjustments to reconcile net income to net cash provided by operating activities: Equity in income of Bank (1,055 ) Issuance of stock to PCSB Foundation 3,387 Deferred tax expense (1,482 ) Net decrease/(increase) in accrued interest receivable (113 ) Other adjustments, principally net changes in other assets and liabilities 46 Net cash used in operating activities $ (1,449 ) Cash Flows from Investing Activities: Investment in PCSB Bank (87,350 ) Increase in ESOP loan (14,532 ) Net cash used in investing activities $ (101,882 ) Cash Flows from Financing Activities: Issuance of common stock 174,604 Net cash provided by financing activities 174,604 Net increase in cash and cash equivalents 71,273 Cash and cash equivalents at beginning of year — Cash and cash equivalents at end of year $ 71,273 |
Quarterly Financial Informati43
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | 2017 2016 In thousands of dollars, except per share amounts Fourth Third Second First Fourth Third Second First Net interest income $ 9,405 $ 8,958 $ 8,527 $ 8,775 $ 8,701 $ 8,676 $ 8,371 $ 8,484 Provision for loan losses — 235 562 26 1,359 103 356 41 Net interest income after provision for loan losses 9,405 8,723 7,965 8,749 7,342 8,573 8,015 8,443 Non-interest income 647 626 2,259 552 535 518 470 428 Non-interest expense 12,859 6,580 7,794 7,198 8,214 7,524 7,480 7,047 Income before taxes (2,807 ) 2,769 2,430 2,103 (337 ) 1,567 1,005 1,824 Income tax expense (1,017 ) 878 758 647 (181 ) 468 278 568 Net Income $ (1,790 ) $ 1,891 $ 1,672 $ 1,456 $ (156 ) $ 1,099 $ 727 $ 1,256 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) | 12 Months Ended | |
Jun. 30, 2017USD ($)SubsidiarySegment | Jun. 30, 2016USD ($) | |
Basis Of Presentation [Line Items] | ||
Number of subsidiaries | Subsidiary | 3 | |
Trading securities | $ 0 | |
Other intangible assets, estimated useful life | 10 years | |
Tax position recognized largest amount of tax benefit greater than likely realized percentage | 50.00% | |
Tax benefit related to taxo positions | $ 0 | $ 0 |
Dilutive instruments | $ 0 | $ 0 |
Financial Service Operations [Member] | ||
Basis Of Presentation [Line Items] | ||
Number of reportable operating segments | Segment | 1 | |
Maximum [Member] | Home Equity Lines of Credit [Member] | ||
Basis Of Presentation [Line Items] | ||
Loan-to-value ratio | 75.00% |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - USD ($) | Apr. 20, 2017 | Jun. 30, 2017 | Apr. 19, 2017 | Jun. 30, 2016 |
Subsidiary Sale Of Stock [Line Items] | ||||
Initial public offering in connection with banks's mutual-to-stock conversion completion date | Apr. 20, 2017 | |||
Gross proceeds from offering | $ 178,300,000 | |||
Sale of stock | 17,826,408 | |||
Expenses related to offering | $ 3,700,000 | |||
Net proceeds from offering | 174,600,000 | |||
ESOP borrowing | $ 14,500 | |||
Amount retained from net proceeds of the offering prior to the contribution | $ 87,300,000 | |||
Common Stock, shares outstanding | 18,165,110 | 0 | 0 | |
PCSB Bank Employee Stock Ownership Plan [Member] | ||||
Subsidiary Sale Of Stock [Line Items] | ||||
Sale of stock | 1,453,209 | |||
Stock price | $ 10 | |||
ESOP borrowing | $ 14,500,000 | |||
PCSB Community Foundation [Member] | ||||
Subsidiary Sale Of Stock [Line Items] | ||||
Contributions in shares | 338,702 | |||
Contributions in cash | $ 1,600,000 |
Investment Securities - Schedul
Investment Securities - Schedule of Amortized Cost, Gross Unrealized/Unrecognized Gains and Losses and Fair Value of Available for Sale and Held to Maturity Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | $ 111,832 | $ 111,559 |
Available for sale, Gross Unrealized/Unrecognized Gains | 452 | 878 |
Available for sale, Gross Unrealized/Unrecognized Losses | (395) | (86) |
Available for sale, Fair Value | 111,889 | 112,351 |
Held to maturity, Amortized Cost | 383,551 | 270,679 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 1,409 | 2,772 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (1,372) | (134) |
Held to maturity, Fair Value | 383,588 | 273,317 |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | 63,630 | 65,953 |
Available for sale, Gross Unrealized/Unrecognized Gains | 31 | 204 |
Available for sale, Gross Unrealized/Unrecognized Losses | (216) | (25) |
Available for sale, Fair Value | 63,445 | 66,132 |
Held to maturity, Amortized Cost | 155,559 | 145,896 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 23 | 357 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (574) | (51) |
Held to maturity, Fair Value | 155,008 | 146,202 |
Corporate and Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | 8,460 | 8,514 |
Available for sale, Gross Unrealized/Unrecognized Gains | 58 | 132 |
Available for sale, Gross Unrealized/Unrecognized Losses | (36) | |
Available for sale, Fair Value | 8,482 | 8,646 |
Held to maturity, Amortized Cost | 999 | |
Held to maturity, Fair Value | 999 | |
Mortgage-backed Securities - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | 39,710 | 37,043 |
Available for sale, Gross Unrealized/Unrecognized Gains | 363 | 542 |
Available for sale, Gross Unrealized/Unrecognized Losses | (143) | (61) |
Available for sale, Fair Value | 39,930 | 37,524 |
Held to maturity, Amortized Cost | 143,452 | 72,842 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 828 | 1,342 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (497) | (45) |
Held to maturity, Fair Value | 143,783 | 74,139 |
Equity Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | 32 | 49 |
Available for sale, Fair Value | 32 | 49 |
Mortgage-backed Securities - Collateralized Mortgage Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Held to maturity, Amortized Cost | 59,476 | 30,268 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 146 | 350 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (235) | (38) |
Held to maturity, Fair Value | 59,387 | 30,580 |
Mortgage-backed Securities - Commercial [Member] | ||
Schedule of Investments [Line Items] | ||
Held to maturity, Amortized Cost | 24,065 | 21,673 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 412 | 723 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (66) | |
Held to maturity, Fair Value | $ 24,411 | $ 22,396 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 12 Months Ended | ||
Jun. 30, 2017USD ($)Security | Jun. 30, 2016USD ($)Security | Jun. 30, 2015USD ($) | |
Investments Debt And Equity Securities [Abstract] | |||
Sale of investment securities | $ 0 | $ 0 | $ 23,700,000 |
Realized gains or losses on investment securities | 0 | 0 | $ 0 |
Carrying amounts of securities pledged | 95,500,000 | 93,100,000 | |
Total investment securities | $ 495,440,000 | $ 383,030,000 | |
Number of securities in unrealized loss position | Security | 156 | 52 | |
Fair value of securities in unrealized loss position | $ 271,900,000 | $ 80,600,000 | |
Other-than-temporarily impaired securities | $ 0 | $ 0 |
Investment Securities - Fair Va
Investment Securities - Fair Value and Carrying Amount of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Investments Debt And Equity Securities [Abstract] | ||
1 year or less | $ 50,486 | $ 22,005 |
1 to 5 years | 106,073 | 118,946 |
5 to 10 years | 632 | |
Due after 10 years | 4,313 | |
Mortgage-backed securities | 226,992 | 124,783 |
Held to maturity, Amortized Cost | 383,551 | 270,679 |
1 year or less | 50,413 | 22,033 |
1 to 5 years | 105,594 | 119,120 |
5 to 10 years | 637 | |
Due after 10 years | 4,412 | |
Mortgage-backed securities | 227,581 | 127,115 |
Total | 383,588 | 273,317 |
1 year or less | 16,005 | 19,490 |
1 to 5 years | 54,085 | 46,902 |
5 to 10 years | 2,000 | 5,127 |
Due after 10 years | 2,948 | |
Mortgage-backed securities | 39,710 | 37,043 |
Total | 111,800 | 111,510 |
1 year or less | 15,988 | 19,495 |
1 to 5 years | 53,975 | 47,149 |
5 to 10 years | 1,964 | 5,187 |
Due after 10 years | 2,947 | |
Mortgage-backed securities | 39,930 | 37,524 |
Total | $ 111,857 | $ 112,302 |
Investment Securities - Investm
Investment Securities - Investment Securities with Fair Value and Unrealized Losses (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Schedule of Investments [Line Items] | ||
Available for sale, Less than 12 months, Fair Value | $ 62,725 | $ 31,374 |
Available for sale, Less than 12 months, Unrealized/Unrecognized Loss | (347) | (74) |
Available for sale, Greater than 12 months, Fair Value | 7,193 | 1,683 |
Available for sale, Greater than 12 months, Unrealized/Unrecognized Loss | (48) | (12) |
Available for sale, Total, Fair Value | 69,918 | 33,057 |
Available for sale, Total, Unrealized/Unrecognized Loss | (395) | (86) |
Held to maturity, Less than 12 months, Fair Value | 189,978 | 33,306 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (1,205) | (83) |
Held to maturity, Greater than 12 months, Fair Value | 12,051 | 14,221 |
Held to maturity, Greater than 12 months,Unrealized/ Unrecognized Loss | (167) | (51) |
Held to maturity, Total, Fair Value | 202,029 | 47,527 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (1,372) | (134) |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Less than 12 months, Fair Value | 41,900 | 19,462 |
Available for sale, Less than 12 months, Unrealized/Unrecognized Loss | (200) | (22) |
Available for sale, Greater than 12 months, Fair Value | 3,993 | 1,007 |
Available for sale, Greater than 12 months, Unrealized/Unrecognized Loss | (16) | (3) |
Available for sale, Total, Fair Value | 45,893 | 20,469 |
Available for sale, Total, Unrealized/Unrecognized Loss | (216) | (25) |
Held to maturity, Less than 12 months, Fair Value | 113,511 | 22,000 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (531) | (44) |
Held to maturity, Greater than 12 months, Fair Value | 5,981 | 7,993 |
Held to maturity, Greater than 12 months,Unrealized/ Unrecognized Loss | (43) | (7) |
Held to maturity, Total, Fair Value | 119,492 | 29,993 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (574) | (51) |
Corporate and Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Less than 12 months, Fair Value | 1,964 | |
Available for sale, Less than 12 months, Unrealized/Unrecognized Loss | (36) | |
Available for sale, Total, Fair Value | 1,964 | |
Available for sale, Total, Unrealized/Unrecognized Loss | (36) | |
Held to maturity, Less than 12 months, Fair Value | 999 | |
Held to maturity, Total, Fair Value | 999 | |
Mortgage-backed Securities - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Less than 12 months, Fair Value | 18,861 | 11,912 |
Available for sale, Less than 12 months, Unrealized/Unrecognized Loss | (111) | (52) |
Available for sale, Greater than 12 months, Fair Value | 3,200 | 676 |
Available for sale, Greater than 12 months, Unrealized/Unrecognized Loss | (32) | (9) |
Available for sale, Total, Fair Value | 22,061 | 12,588 |
Available for sale, Total, Unrealized/Unrecognized Loss | (143) | (61) |
Held to maturity, Less than 12 months, Fair Value | 39,754 | 6,886 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (467) | (19) |
Held to maturity, Greater than 12 months, Fair Value | 1,626 | 4,895 |
Held to maturity, Greater than 12 months,Unrealized/ Unrecognized Loss | (30) | (26) |
Held to maturity, Total, Fair Value | 41,380 | 11,781 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (497) | (45) |
Mortgage-backed Securities - Collateralized Mortgage Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Held to maturity, Less than 12 months, Fair Value | 26,622 | 4,420 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (141) | (20) |
Held to maturity, Greater than 12 months, Fair Value | 4,444 | 1,333 |
Held to maturity, Greater than 12 months,Unrealized/ Unrecognized Loss | (94) | (18) |
Held to maturity, Total, Fair Value | 31,066 | 5,753 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (235) | $ (38) |
Mortgage-backed Securities - Commercial [Member] | ||
Schedule of Investments [Line Items] | ||
Held to maturity, Less than 12 months, Fair Value | 9,092 | |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (66) | |
Held to maturity, Total, Fair Value | 9,092 | |
Held to maturity, Total, Unrealized/ Unrecognized Loss | $ (66) |
Loans - Summary of Loans Receiv
Loans - Summary of Loans Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | $ 813,624 | $ 785,206 | ||
Loans receivable | 814,798 | 786,378 | ||
Allowance for loan losses | (5,150) | (4,042) | $ (3,921) | $ (4,057) |
Loans receivable, net | 809,648 | 782,336 | ||
Residential [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 217,778 | 226,073 | ||
Allowance for loan losses | (386) | (237) | ||
Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 437,651 | 385,827 | ||
Allowance for loan losses | (2,589) | (2,149) | ||
Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 22,404 | 25,050 | ||
Allowance for loan losses | (1,150) | (269) | ||
Commercial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 33,297 | 40,607 | ||
Allowance for loan losses | (440) | (604) | ||
Other Loans Secured [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 46,802 | 49,993 | ||
Allowance for loan losses | (365) | (397) | ||
Home Equity Lines Of Credit [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 41,927 | 41,180 | ||
Allowance for loan losses | (76) | (73) | ||
Consumer And Installment Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 13,765 | 16,476 | ||
Allowance for loan losses | (144) | (313) | ||
Mortgage Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Net deferred loan origination costs | 397 | 319 | ||
Loans receivable | 678,230 | 637,269 | ||
Mortgage Loans [Member] | Residential [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 217,778 | 226,073 | ||
Mortgage Loans [Member] | Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 437,651 | 385,827 | ||
Mortgage Loans [Member] | Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 22,404 | 25,050 | ||
Commercial and Consumer Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Net deferred loan origination costs | 777 | 853 | ||
Loans receivable | 136,568 | 149,109 | ||
Commercial and Consumer Loans [Member] | Commercial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 33,297 | 40,607 | ||
Commercial and Consumer Loans [Member] | Other Loans Secured [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 46,802 | 49,993 | ||
Commercial and Consumer Loans [Member] | Home Equity Lines Of Credit [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | 41,927 | 41,180 | ||
Commercial and Consumer Loans [Member] | Consumer And Installment Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans receivable, before fees | $ 13,765 | $ 16,476 |
Loans - Summary of Activity in
Loans - Summary of Activity in Allowance for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | $ 4,042 | $ 3,921 | $ 4,042 | $ 3,921 | $ 4,057 | |||||
Allowance for Loan Losses, Provision (credit) | $ 235 | $ 562 | 26 | $ 1,359 | $ 103 | $ 356 | 41 | 823 | 1,859 | 1,326 |
Allowance for Loan Losses, Charge-offs | (1,129) | (2,133) | (2,191) | |||||||
Allowance for Loan Losses, Recoveries | 1,414 | 395 | 729 | |||||||
Allowance for Loan Losses, Ending Allowance | 4,042 | 5,150 | 4,042 | 3,921 | ||||||
Residential [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 237 | 237 | ||||||||
Allowance for Loan Losses, Ending Allowance | 237 | 386 | 237 | |||||||
Commercial [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 2,149 | 2,149 | ||||||||
Allowance for Loan Losses, Ending Allowance | 2,149 | 2,589 | 2,149 | |||||||
Construction [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 269 | 269 | ||||||||
Allowance for Loan Losses, Ending Allowance | 269 | 1,150 | 269 | |||||||
Commercial Loans [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 604 | 604 | ||||||||
Allowance for Loan Losses, Ending Allowance | 604 | 440 | 604 | |||||||
Other Loans Secured [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 397 | 397 | ||||||||
Allowance for Loan Losses, Ending Allowance | 397 | 365 | 397 | |||||||
Home Equity Lines Of Credit [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 73 | 73 | ||||||||
Allowance for Loan Losses, Ending Allowance | 73 | 76 | 73 | |||||||
Consumer And Installment Loans [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 313 | 313 | ||||||||
Allowance for Loan Losses, Ending Allowance | 313 | 144 | 313 | |||||||
Originated [Member] | Residential [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 237 | 193 | 237 | 193 | 219 | |||||
Allowance for Loan Losses, Provision (credit) | 290 | 444 | 144 | |||||||
Allowance for Loan Losses, Charge-offs | (237) | (400) | (175) | |||||||
Allowance for Loan Losses, Recoveries | 70 | 5 | ||||||||
Allowance for Loan Losses, Ending Allowance | 237 | 360 | 237 | 193 | ||||||
Originated [Member] | Commercial [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 2,149 | 1,766 | 2,149 | 1,766 | 1,622 | |||||
Allowance for Loan Losses, Provision (credit) | 421 | 215 | 497 | |||||||
Allowance for Loan Losses, Charge-offs | (10) | (361) | ||||||||
Allowance for Loan Losses, Recoveries | 19 | 178 | 8 | |||||||
Allowance for Loan Losses, Ending Allowance | 2,149 | 2,589 | 2,149 | 1,766 | ||||||
Originated [Member] | Construction [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 269 | 100 | 269 | 100 | 828 | |||||
Allowance for Loan Losses, Provision (credit) | 989 | (23) | (401) | |||||||
Allowance for Loan Losses, Charge-offs | (108) | (327) | ||||||||
Allowance for Loan Losses, Recoveries | 192 | |||||||||
Allowance for Loan Losses, Ending Allowance | 269 | 1,150 | 269 | 100 | ||||||
Originated [Member] | Commercial Loans [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 604 | 1,266 | 604 | 1,266 | 516 | |||||
Allowance for Loan Losses, Provision (credit) | (1,387) | 1,006 | 1,221 | |||||||
Allowance for Loan Losses, Charge-offs | (1,668) | (1,181) | ||||||||
Allowance for Loan Losses, Recoveries | 1,223 | 710 | ||||||||
Allowance for Loan Losses, Ending Allowance | 604 | 440 | 604 | 1,266 | ||||||
Originated [Member] | Other Loans Secured [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 397 | 416 | 397 | 416 | 564 | |||||
Allowance for Loan Losses, Provision (credit) | 195 | (19) | (148) | |||||||
Allowance for Loan Losses, Charge-offs | (325) | |||||||||
Allowance for Loan Losses, Recoveries | 98 | |||||||||
Allowance for Loan Losses, Ending Allowance | 397 | 365 | 397 | 416 | ||||||
Originated [Member] | Home Equity Lines Of Credit [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | 73 | 69 | 73 | 69 | 186 | |||||
Allowance for Loan Losses, Provision (credit) | 3 | 28 | (80) | |||||||
Allowance for Loan Losses, Charge-offs | (24) | (43) | ||||||||
Allowance for Loan Losses, Recoveries | 6 | |||||||||
Allowance for Loan Losses, Ending Allowance | 73 | 76 | 73 | 69 | ||||||
Originated [Member] | Consumer And Installment Loans [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Beginning Allowance | $ 313 | $ 111 | 313 | 111 | 122 | |||||
Allowance for Loan Losses, Provision (credit) | 243 | 208 | 93 | |||||||
Allowance for Loan Losses, Charge-offs | (416) | (31) | (104) | |||||||
Allowance for Loan Losses, Recoveries | 4 | 25 | ||||||||
Allowance for Loan Losses, Ending Allowance | $ 313 | 144 | $ 313 | $ 111 | ||||||
Acquired [Member] | Residential [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Provision (credit) | 64 | |||||||||
Allowance for Loan Losses, Charge-offs | (38) | |||||||||
Allowance for Loan Losses, Ending Allowance | 26 | |||||||||
Acquired [Member] | Commercial Loans [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Provision (credit) | 2 | |||||||||
Allowance for Loan Losses, Charge-offs | (2) | |||||||||
Acquired [Member] | Consumer And Installment Loans [Member] | ||||||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||||||
Allowance for Loan Losses, Provision (credit) | 3 | |||||||||
Allowance for Loan Losses, Charge-offs | $ (3) |
Loans - Summary of Balance in A
Loans - Summary of Balance in Allowance for Loan Losses and Recorded investment in Loans by Portfolio Segment, and Based on Impairment Method (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Individually Evaluated for Impairment | $ 17,322 | $ 24,865 | $ 34,636 | |
Loans, Collectively Evaluated for Impairment | 792,935 | 757,019 | ||
Total | 813,624 | 785,206 | ||
Allowance for Loan Losses, Individually Evaluated for Impairment | 1,142 | 260 | 738 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 3,982 | 3,782 | ||
Allowance for Loan Losses, Total | 5,150 | 4,042 | 3,921 | $ 4,057 |
Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Acquired With Deteriorated Credit Quality | 3,367 | 3,322 | ||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 26 | 0 | ||
Residential [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Individually Evaluated for Impairment | 4,471 | 5,483 | ||
Loans, Collectively Evaluated for Impairment | 211,983 | 219,310 | ||
Total | 217,778 | 226,073 | ||
Allowance for Loan Losses, Individually Evaluated for Impairment | 131 | |||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 229 | 237 | ||
Allowance for Loan Losses, Total | 386 | 237 | ||
Residential [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Acquired With Deteriorated Credit Quality | 1,324 | 1,280 | ||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 26 | 0 | ||
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Individually Evaluated for Impairment | 2,411 | 9,277 | ||
Loans, Collectively Evaluated for Impairment | 433,416 | 374,772 | ||
Total | 437,651 | 385,827 | ||
Allowance for Loan Losses, Individually Evaluated for Impairment | 34 | |||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 2,589 | 2,149 | ||
Allowance for Loan Losses, Total | 2,589 | 2,149 | ||
Commercial [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Acquired With Deteriorated Credit Quality | 1,824 | 1,778 | ||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 0 | 0 | ||
Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Individually Evaluated for Impairment | 3,661 | 144 | ||
Loans, Collectively Evaluated for Impairment | 18,743 | 24,906 | ||
Total | 22,404 | 25,050 | ||
Allowance for Loan Losses, Individually Evaluated for Impairment | 997 | 83 | 675 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 153 | 186 | ||
Allowance for Loan Losses, Total | 1,150 | 269 | ||
Construction [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 0 | 0 | ||
Commercial Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Individually Evaluated for Impairment | 356 | 2,494 | ||
Loans, Collectively Evaluated for Impairment | 32,941 | 38,113 | ||
Total | 33,297 | 40,607 | ||
Allowance for Loan Losses, Individually Evaluated for Impairment | 7 | |||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 433 | 604 | ||
Allowance for Loan Losses, Total | 440 | 604 | ||
Commercial Loans [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 0 | 0 | ||
Other Loans Secured [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Individually Evaluated for Impairment | 5,813 | 6,465 | ||
Loans, Collectively Evaluated for Impairment | 40,989 | 43,528 | ||
Total | 46,802 | 49,993 | ||
Allowance for Loan Losses, Individually Evaluated for Impairment | 2 | 2 | ||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 363 | 395 | ||
Allowance for Loan Losses, Total | 365 | 397 | ||
Other Loans Secured [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 0 | 0 | ||
Home Equity Lines Of Credit [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Individually Evaluated for Impairment | 610 | 417 | ||
Loans, Collectively Evaluated for Impairment | 41,140 | 40,583 | ||
Total | 41,927 | 41,180 | ||
Allowance for Loan Losses, Individually Evaluated for Impairment | 5 | |||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 71 | 73 | ||
Allowance for Loan Losses, Total | 76 | 73 | ||
Home Equity Lines Of Credit [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Acquired With Deteriorated Credit Quality | 177 | 180 | ||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 0 | 0 | ||
Consumer And Installment Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Individually Evaluated for Impairment | 585 | |||
Loans, Collectively Evaluated for Impairment | 13,723 | 15,807 | ||
Total | 13,765 | 16,476 | ||
Allowance for Loan Losses, Individually Evaluated for Impairment | 175 | $ 29 | ||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 144 | 138 | ||
Allowance for Loan Losses, Total | 144 | 313 | ||
Consumer And Installment Loans [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, Acquired With Deteriorated Credit Quality | 42 | 84 | ||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | $ 0 | $ 0 |
Loans - Summary of Loans Indivi
Loans - Summary of Loans Individually Evaluated for Impairment (Excluding Loans Acquired with Deteriorated Credit Quality) by Class of Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Impaired loans, unpaid principal balance | $ 22,440 | $ 31,147 | $ 37,265 |
Impaired loans, recorded investment | 17,322 | 24,865 | 34,636 |
Allowance for loan losses | 1,142 | 260 | 738 |
Impaired loans, average recorded investment | 17,438 | 26,653 | 34,839 |
Impaired loans, interest income recognized | 575 | 177 | 1,174 |
Residential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, unpaid principal balance | 4,216 | 5,683 | 7,064 |
Impaired loans with no related allowance recorded, recorded investment | 4,014 | 5,483 | 7,082 |
Impaired loans with no related allowance recorded, average recorded investment | 4,238 | 5,577 | 6,216 |
Impaired loans with no related allowance recorded, interest income recognized | 42 | 6 | 146 |
Impaired loans with an allowance recorded, unpaid principal balance | 395 | ||
Impaired loans with an allowance recorded, recorded investment | 457 | ||
Impaired loans, recorded investment | 4,471 | 5,483 | |
Allowance for loan losses | 131 | ||
Impaired loans with an allowance recorded, average recorded investment | 432 | ||
Impaired loans with an allowance recorded, interest income recognized | 15 | ||
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, unpaid principal balance | 2,935 | 9,947 | 9,395 |
Impaired loans with no related allowance recorded, recorded investment | 2,411 | 9,277 | 9,121 |
Impaired loans with no related allowance recorded, average recorded investment | 2,448 | 9,324 | 7,365 |
Impaired loans with no related allowance recorded, interest income recognized | 137 | 88 | 242 |
Impaired loans with an allowance recorded, unpaid principal balance | 511 | ||
Impaired loans with an allowance recorded, recorded investment | 301 | ||
Impaired loans, recorded investment | 2,411 | 9,277 | |
Allowance for loan losses | 34 | ||
Impaired loans with an allowance recorded, average recorded investment | 60 | ||
Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, unpaid principal balance | 404 | 12 | 1,984 |
Impaired loans with no related allowance recorded, recorded investment | 404 | 12 | 2,020 |
Impaired loans with no related allowance recorded, average recorded investment | 406 | 13 | 4,271 |
Impaired loans with no related allowance recorded, interest income recognized | 12 | ||
Impaired loans with an allowance recorded, unpaid principal balance | 3,257 | 1,324 | 5,800 |
Impaired loans with an allowance recorded, recorded investment | 3,257 | 132 | 4,617 |
Impaired loans, recorded investment | 3,661 | 144 | |
Allowance for loan losses | 997 | 83 | 675 |
Impaired loans with an allowance recorded, average recorded investment | 3,015 | 132 | 1,669 |
Impaired loans with an allowance recorded, interest income recognized | 71 | 18 | |
Commercial Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, unpaid principal balance | 276 | 5,250 | |
Impaired loans with no related allowance recorded, recorded investment | 277 | 2,494 | |
Impaired loans with no related allowance recorded, average recorded investment | 278 | 3,971 | 3,266 |
Impaired loans with no related allowance recorded, interest income recognized | 15 | 2 | 175 |
Impaired loans with an allowance recorded, unpaid principal balance | 79 | ||
Impaired loans with an allowance recorded, recorded investment | 79 | ||
Impaired loans, recorded investment | 356 | 2,494 | |
Allowance for loan losses | 7 | ||
Impaired loans with an allowance recorded, average recorded investment | 89 | ||
Impaired loans with an allowance recorded, interest income recognized | 4 | ||
Other Loans Secured [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, unpaid principal balance | 9,157 | 7,762 | 11,528 |
Impaired loans with no related allowance recorded, recorded investment | 4,702 | 6,408 | 10,634 |
Impaired loans with no related allowance recorded, average recorded investment | 4,787 | 6,549 | 11,570 |
Impaired loans with no related allowance recorded, interest income recognized | 224 | 69 | 587 |
Impaired loans with an allowance recorded, unpaid principal balance | 1,111 | 57 | 43 |
Impaired loans with an allowance recorded, recorded investment | 1,111 | 57 | 43 |
Impaired loans, recorded investment | 5,813 | 6,465 | |
Allowance for loan losses | 2 | 2 | |
Impaired loans with an allowance recorded, average recorded investment | 1,135 | 62 | 36 |
Impaired loans with an allowance recorded, interest income recognized | 57 | 1 | |
Home Equity Lines Of Credit [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, unpaid principal balance | 599 | 445 | 457 |
Impaired loans with no related allowance recorded, recorded investment | 599 | 417 | 438 |
Impaired loans with no related allowance recorded, average recorded investment | 599 | 430 | 254 |
Impaired loans with no related allowance recorded, interest income recognized | (2) | 1 | |
Impaired loans with an allowance recorded, unpaid principal balance | 11 | ||
Impaired loans with an allowance recorded, recorded investment | 11 | ||
Impaired loans, recorded investment | 610 | 417 | |
Allowance for loan losses | 5 | ||
Impaired loans with an allowance recorded, average recorded investment | $ 11 | ||
Consumer And Installment Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with no related allowance recorded, unpaid principal balance | 314 | 5 | |
Impaired loans with no related allowance recorded, recorded investment | 236 | 5 | |
Impaired loans with no related allowance recorded, average recorded investment | 235 | 1 | |
Impaired loans with an allowance recorded, unpaid principal balance | 353 | 478 | |
Impaired loans with an allowance recorded, recorded investment | 349 | 375 | |
Impaired loans, recorded investment | 585 | ||
Allowance for loan losses | 175 | 29 | |
Impaired loans with an allowance recorded, average recorded investment | 360 | 131 | |
Impaired loans with an allowance recorded, interest income recognized | $ 11 | $ 5 |
Loans - Nonaccrual Loans and in
Loans - Nonaccrual Loans and in Loans Past Due over 90 Days Still on Accrual Status by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 12,072 | $ 12,559 |
Loans Past Due Over 90 Days and Still Accruing | 4 | |
Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,581 | 4,717 |
Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 300 | |
Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 3,661 | 144 |
Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,615 | |
Originated [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,959 | 3,433 |
Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 302 | 405 |
Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 584 | |
Loans Past Due Over 90 Days and Still Accruing | 4 | |
Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,776 | 1,164 |
Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 497 | |
Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 296 | $ 197 |
Loans - Additional Information
Loans - Additional Information (Detail) | 12 Months Ended | ||
Jun. 30, 2017USD ($)Loan | Jun. 30, 2016USD ($)Loan | Jun. 30, 2015USD ($)Loan | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Acquired loans accounted for as purchased credit impaired loans | $ 2,700,000 | $ 3,300,000 | |
Number of loans classified as troubled debt restructurings | Loan | 20 | 26 | |
Value of loans classified as troubled debt restructurings | $ 9,900,000 | $ 18,600,000 | |
Specific reserves | $ 1,142,000 | $ 260,000 | $ 738,000 |
Troubled debt restructurings for which there was a payment default | Loan | 2 | ||
Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Specific reserves | $ 131,000 | ||
Troubled debt restructurings for which there was a payment default | Loan | 1 | 1 | 0 |
Home Equity Lines Of Credit [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Specific reserves | $ 5,000 | ||
Troubled debt restructurings for which there was a payment default | Loan | 1 | ||
Troubled Debt Restructurings [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Specific reserves | $ 145,000 | $ 2,000 |
Loans - Aging of Recorded Inves
Loans - Aging of Recorded Investment in Past Due Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 10,371 | $ 9,679 |
Current | 803,253 | 775,527 |
Total | 813,624 | 785,206 |
Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 217,778 | 226,073 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 437,651 | 385,827 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 22,404 | 25,050 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 33,297 | 40,607 |
Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 46,802 | 49,993 |
Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 41,927 | 41,180 |
Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 13,765 | 16,476 |
Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,849 | 6,861 |
Current | 651,286 | 598,060 |
Total | 658,135 | 604,921 |
Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,342 | 3,235 |
Current | 153,390 | 150,010 |
Total | 155,732 | 153,245 |
Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 300 | |
Current | 355,247 | 291,044 |
Total | 355,247 | 291,344 |
Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,661 | 144 |
Current | 18,743 | 24,590 |
Total | 22,404 | 24,734 |
Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,375 | |
Current | 31,613 | 35,621 |
Total | 31,613 | 37,996 |
Originated [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 544 | 100 |
Current | 43,612 | 47,175 |
Total | 44,156 | 47,275 |
Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 302 | 113 |
Current | 35,246 | 34,340 |
Total | 35,548 | 34,453 |
Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 594 | |
Current | 13,435 | 15,280 |
Total | 13,435 | 15,874 |
Acquired [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,522 | 2,818 |
Current | 151,967 | 177,467 |
Total | 155,489 | 180,285 |
Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,172 | 1,805 |
Current | 59,874 | 71,023 |
Total | 62,046 | 72,828 |
Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,054 | 520 |
Current | 81,350 | 93,963 |
Total | 82,404 | 94,483 |
Acquired [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 316 | |
Total | 316 | |
Acquired [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,684 | 2,611 |
Total | 1,684 | 2,611 |
Acquired [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 2,646 | 2,718 |
Total | 2,646 | 2,718 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 296 | 493 |
Current | 6,083 | 6,234 |
Total | 6,379 | 6,727 |
Acquired [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 330 | 602 |
Total | 330 | 602 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 331 | 1,463 |
30-59 Days Past Due [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 94 | 435 |
30-59 Days Past Due [Member] | Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 94 | 430 |
30-59 Days Past Due [Member] | Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5 | |
30-59 Days Past Due [Member] | Acquired [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 237 | 1,028 |
30-59 Days Past Due [Member] | Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 237 | 732 |
30-59 Days Past Due [Member] | Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 296 | |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 937 | 1,333 |
60-89 Days Past Due [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 474 | 1,333 |
60-89 Days Past Due [Member] | Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 275 | 573 |
60-89 Days Past Due [Member] | Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 760 | |
60-89 Days Past Due [Member] | Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 199 | |
60-89 Days Past Due [Member] | Acquired [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 463 | 0 |
60-89 Days Past Due [Member] | Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 463 | |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9,103 | 6,883 |
90 Days or More Past Due [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,281 | 5,093 |
90 Days or More Past Due [Member] | Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,973 | 2,232 |
90 Days or More Past Due [Member] | Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 300 | |
90 Days or More Past Due [Member] | Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,661 | 144 |
90 Days or More Past Due [Member] | Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,615 | |
90 Days or More Past Due [Member] | Originated [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 544 | 100 |
90 Days or More Past Due [Member] | Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 103 | 113 |
90 Days or More Past Due [Member] | Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 589 | |
90 Days or More Past Due [Member] | Acquired [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,822 | 1,790 |
90 Days or More Past Due [Member] | Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,472 | 1,073 |
90 Days or More Past Due [Member] | Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,054 | 520 |
90 Days or More Past Due [Member] | Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 296 | $ 197 |
Loans - Summary of Loans by Cla
Loans - Summary of Loans by Class Modified in Troubled Debt Restructurings (Detail) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2017USD ($)Loan | Jun. 30, 2016USD ($)Loan | Jun. 30, 2015USD ($)Loan | |
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 2 | 6 | 15 |
Pre-Modification Outstanding Recorded Investment | $ 441 | $ 3,319 | $ 9,187 |
Post-Modification Outstanding Recorded Investment | $ 486 | $ 3,319 | $ 9,187 |
Residential [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 1 | 3 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 165 | $ 1,697 | $ 2,080 |
Post-Modification Outstanding Recorded Investment | $ 210 | $ 1,697 | $ 2,080 |
Commercial Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 1 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 276 | $ 1,071 | |
Post-Modification Outstanding Recorded Investment | $ 276 | $ 1,071 | |
Commercial [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 1 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 1,178 | $ 4,103 | |
Post-Modification Outstanding Recorded Investment | $ 1,178 | $ 4,103 | |
Construction [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 1,742 | ||
Post-Modification Outstanding Recorded Investment | $ 1,742 | ||
Other Loans Secured [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 1 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 64 | $ 183 | |
Post-Modification Outstanding Recorded Investment | $ 64 | $ 183 | |
Home Equity Lines Of Credit [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Loans | Loan | 1 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 200 | $ 8 | |
Post-Modification Outstanding Recorded Investment | $ 200 | $ 8 |
Loans - Summary of Risk Categor
Loans - Summary of Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 813,624 | $ 785,206 |
Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 217,778 | 226,073 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 437,651 | 385,827 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 22,404 | 25,050 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 33,297 | 40,607 |
Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 46,802 | 49,993 |
Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 41,927 | 41,180 |
Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 13,765 | 16,476 |
Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 658,135 | 604,921 |
Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 155,732 | 153,245 |
Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 355,247 | 291,344 |
Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 22,404 | 24,734 |
Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 31,613 | 37,996 |
Originated [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 44,156 | 47,275 |
Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 35,548 | 34,453 |
Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 13,435 | 15,874 |
Acquired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 155,489 | 180,285 |
Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 62,046 | 72,828 |
Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 82,404 | 94,483 |
Acquired [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 316 | |
Acquired [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,684 | 2,611 |
Acquired [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,646 | 2,718 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,379 | 6,727 |
Acquired [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 330 | 602 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 788,286 | 744,224 |
Pass [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 638,973 | 569,439 |
Pass [Member] | Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 153,165 | 147,944 |
Pass [Member] | Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 352,203 | 278,491 |
Pass [Member] | Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 18,743 | 24,590 |
Pass [Member] | Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 28,944 | 30,916 |
Pass [Member] | Originated [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 37,267 | 38,382 |
Pass [Member] | Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 35,246 | 34,047 |
Pass [Member] | Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 13,405 | 15,069 |
Pass [Member] | Acquired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 149,313 | 174,785 |
Pass [Member] | Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 58,665 | 70,629 |
Pass [Member] | Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 80,082 | 91,380 |
Pass [Member] | Acquired [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 316 | |
Pass [Member] | Acquired [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,684 | 2,611 |
Pass [Member] | Acquired [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,646 | 2,718 |
Pass [Member] | Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 5,906 | 6,529 |
Pass [Member] | Acquired [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 330 | 602 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 192 | 5,368 |
Special Mention [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 192 | 4,419 |
Special Mention [Member] | Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 181 | |
Special Mention [Member] | Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 134 | 2,101 |
Special Mention [Member] | Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,004 | |
Special Mention [Member] | Originated [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 109 | |
Special Mention [Member] | Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 58 | |
Special Mention [Member] | Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 24 | |
Special Mention [Member] | Acquired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 949 | |
Special Mention [Member] | Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 949 | |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 25,146 | 35,265 |
Substandard [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 18,970 | 30,714 |
Substandard [Member] | Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,567 | 5,120 |
Substandard [Member] | Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,910 | 10,752 |
Substandard [Member] | Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 3,661 | 144 |
Substandard [Member] | Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,669 | 5,076 |
Substandard [Member] | Originated [Member] | Other Loans Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,889 | 8,784 |
Substandard [Member] | Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 244 | 406 |
Substandard [Member] | Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 30 | 432 |
Substandard [Member] | Acquired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,176 | 4,551 |
Substandard [Member] | Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 3,381 | 2,199 |
Substandard [Member] | Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,322 | 2,154 |
Substandard [Member] | Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 473 | 198 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 349 | |
Doubtful [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 349 | |
Doubtful [Member] | Originated [Member] | Consumer And Installment Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 349 |
Loans - Schedule of Carrying Am
Loans - Schedule of Carrying Amount of Purchased Credit Impaired Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | $ 809,648 | $ 782,336 |
Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | 3,341 | 3,322 |
Acquired with Deteriorated Credit Quality [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | 1,298 | 1,280 |
Acquired with Deteriorated Credit Quality [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | 1,824 | 1,778 |
Acquired with Deteriorated Credit Quality [Member] | Home Equity Lines Of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | 177 | 180 |
Acquired with Deteriorated Credit Quality [Member] | Consumer And Installment Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | $ 42 | $ 84 |
Loans - Schedule of Carrying 60
Loans - Schedule of Carrying Amount of Purchased Credit Impaired Loans (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans, allowance | $ 26 | $ 0 |
Loans - Summary of Accretable Y
Loans - Summary of Accretable Yield, or Income Expected to be Collected for Acquired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities [Abstract] | |||
Beginning balance | $ 578 | $ 713 | |
New loans acquired | $ 750 | ||
Accretion income | (190) | (185) | (37) |
Reclassification from non-accretable difference | 15 | 132 | |
Disposals | (82) | ||
Ending balance | $ 403 | $ 578 | $ 713 |
Premises and Equipment - Summar
Premises and Equipment - Summary of Premises and Equipment (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Property Plant And Equipment [Line Items] | ||
Premises and equipment, gross | $ 21,981 | $ 18,511 |
Less: accumulated depreciation and amortization | (9,022) | (7,737) |
Total premises and equipment, net | 12,959 | 10,774 |
Land [Member] | ||
Property Plant And Equipment [Line Items] | ||
Premises and equipment, gross | 1,997 | 1,997 |
Building and Leasehold improvements [Member] | ||
Property Plant And Equipment [Line Items] | ||
Premises and equipment, gross | 11,128 | 9,601 |
Furniture, fixtures and equipment [Member] | ||
Property Plant And Equipment [Line Items] | ||
Premises and equipment, gross | 5,841 | 4,946 |
Construction and improvements in process [Member] | ||
Property Plant And Equipment [Line Items] | ||
Premises and equipment, gross | $ 3,015 | $ 1,967 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Property Plant And Equipment [Abstract] | |||
Depreciation expense | $ 1,300,000 | $ 1,100,000 | $ 725,000 |
Goodwill and Intangible Asset64
Goodwill and Intangible Assets - Schedule of Change in Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Goodwill [Line Items] | ||
Beginning Balance | $ 5,843 | |
Ending Balance | 6,106 | $ 5,843 |
CMS Bancorp [Member] | ||
Goodwill [Line Items] | ||
Acquired goodwill – CMS Bancorp | $ 5,843 | |
Adjustment to CMS goodwill | $ 263 |
Goodwill and Intangible Asset65
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Impairment of goodwill | $ 0 | $ 0 | $ 0 |
Amortization of intangible assets | $ 143,000 | $ 158,000 | $ 27,000 |
Goodwill and Intangible Asset66
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - Core Deposit Intangible [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Goodwill And Intangible Assets Disclosure [Line Items] | ||
Amortized intangible assets, Gross Carrying Amount | $ 887 | $ 887 |
Amortized intangible assets, Accumulated Amortization | $ (328) | $ (185) |
Goodwill and Intangible Asset67
Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Detail) $ in Thousands | Jun. 30, 2017USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
2,018 | $ 126 |
2,019 | 110 |
2,020 | 94 |
2,021 | 78 |
2,022 | $ 62 |
Deposits - Summary of Deposit B
Deposits - Summary of Deposit Balances (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Deposits [Abstract] | ||
Demand | $ 136,361 | $ 122,740 |
NOW Accounts | 115,527 | 111,455 |
Money market accounts | 29,097 | 31,194 |
Savings | 512,697 | 516,249 |
Time deposits | 294,779 | 331,057 |
Total deposits | $ 1,088,461 | $ 1,112,695 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Jun. 30, 2016 |
Deposits [Line Items] | ||
Time deposits, meet or exceed FDIC insurance limit of $250,000 | $ 49.2 | $ 53.3 |
PCSB Commercial Bank [Member] | ||
Deposits [Line Items] | ||
Deposits of local governments | $ 38.4 | $ 49.4 |
Deposits - Scheduled Maturities
Deposits - Scheduled Maturities of Time Deposits (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Deposits [Abstract] | ||
Within 1 year | $ 107,097 | $ 169,260 |
1 year to 2 years | 62,331 | 44,762 |
2 years to 3 years | 31,143 | 49,745 |
3 years to 4 years | 41,508 | 26,782 |
4 years to 5 years | 52,503 | 40,490 |
Thereafter | 197 | 18 |
Total | $ 294,779 | $ 331,057 |
FHLB and Other Borrowings - Add
FHLB and Other Borrowings - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Federal Home Loan Bank Advances [Line Items] | ||
Advances from Federal Home Loan Bank | $ 42,598,000 | $ 20,081,000 |
Advances from federal home loan banks accessible | $ 393,300,000 | |
Percentage of outstanding advances to be maintained as collateral | 110.00% | |
Secured borrowings | $ 85,900,000 | |
FRB borrowings outstanding | 0 | 0 |
Federal Home Loan Bank of New York [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Advances from Federal Home Loan Bank | 42,598,000 | $ 20,081,000 |
Federal Home Loan Bank of New York [Member] | Original Maturities Ranging From 3 To 30 Months [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Advances from Federal Home Loan Bank | 38,600,000 | |
Federal Home Loan Bank of New York [Member] | FHLB Advances [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Balloon payment in 2026 | 2,800,000 | |
Federal Home Loan Bank of New York [Member] | Amortizing Term Loan [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Advances from Federal Home Loan Bank | $ 4,000,000 | |
Federal Home Loan Bank of New York [Member] | Minimum [Member] | FHLB Advances [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
FHLB short term advances, original maturities | 3 months | |
Federal Home Loan Bank of New York [Member] | Maximum [Member] | FHLB Advances [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
FHLB short term advances, original maturities | 30 months |
FHLB and Other Borrowings - Mat
FHLB and Other Borrowings - Maturity Schedule of Advances (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Federal Home Loan Bank Advances [Line Items] | ||
Amount Due, Total | $ 42,598 | $ 20,081 |
Federal Home Loan Bank of New York [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Amount Due, Within 1 year | 23,757 | 16,118 |
Amount Due, 1 year to 2 years | 10,125 | 121 |
Amount Due, 2 years to 3 years | 5,128 | 125 |
Amount Due, 3 years to 4 years | 131 | 128 |
Amount Due, 4 years to 5 years | 135 | 131 |
Amount Due, Thereafter | 3,322 | 3,458 |
Amount Due, Total | $ 42,598 | $ 20,081 |
Weighted Avg Rate, Within 1 year | 1.27% | 0.80% |
Weighted Avg Rate, 1 year to 2 years | 1.70% | 2.62% |
Weighted Avg Rate, 2 years to 3 years | 1.81% | 2.62% |
Weighted Avg Rate, 3 years to 4 years | 2.62% | 2.62% |
Weighted Avg Rate, 4 years to 5 years | 2.62% | 2.62% |
Weighted Avg Rate, Thereafter | 2.62% | 2.62% |
Weighted Avg Rate, Total | 1.55% | 1.16% |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Contract Amounts of Credit-related Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Standby Letter of Credit [Member] | ||
Fair Value Off Balance Sheet Risks Disclosure Information [Line Items] | ||
Credit related financial instruments | $ 705 | $ 732 |
Commitments to Originate Loans [Member] | ||
Fair Value Off Balance Sheet Risks Disclosure Information [Line Items] | ||
Credit related financial instruments | 77,600 | 62,773 |
Unused Lines of Credit [Member] | ||
Fair Value Off Balance Sheet Risks Disclosure Information [Line Items] | ||
Credit related financial instruments | $ 45,439 | $ 58,788 |
Commitments and Contingencies74
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Commitments And Contingencies Disclosure [Abstract] | |||
Rent expense under operating leases | $ 2.7 | $ 2.1 | $ 1.9 |
Commitments and Contingencies75
Commitments and Contingencies - Summary of Rent Commitments Before Considering Renewal Options (Detail) $ in Thousands | Jun. 30, 2017USD ($) |
Commitments And Contingencies Disclosure [Abstract] | |
Within 1 year | $ 2,359 |
1 year to 2 years | 2,024 |
2 years to 3 years | 1,748 |
3 years to 4 years | 1,484 |
4 years to 5 years | 1,435 |
Thereafter | 7,395 |
Total | $ 16,445 |
Comprehensive Income - Summary
Comprehensive Income - Summary of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | $ 109,949 | $ 110,271 | $ 111,639 |
Other comprehensive income (loss) | 2,755 | (3,248) | (1,876) |
Ending Balance | 279,846 | 109,949 | 110,271 |
Net Unrealized Gain (Loss) on Available for Sale Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | 523 | 323 | 418 |
Other comprehensive income (loss) before reclassifications | (735) | 255 | (159) |
Less tax effect | (249) | 55 | (64) |
Other comprehensive income (loss) | (486) | 200 | (95) |
Ending Balance | 37 | 523 | 323 |
Unrealized Losses on Retirement Plans [Member] | Pension Benefits [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (7,683) | (4,311) | (2,622) |
Other comprehensive income (loss) before reclassifications | 3,973 | (5,022) | (3,044) |
Reclassification Adjustment for expense included in salaries and employee benefits | 89 | 398 | (225) |
Less tax effect | 1,381 | (1,252) | (1,580) |
Other comprehensive income (loss) | 2,681 | (3,372) | (1,689) |
Ending Balance | (5,002) | (7,683) | (4,311) |
Unrealized Losses on Retirement Plans [Member] | SERP Benefits [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (810) | (734) | (642) |
Other comprehensive income (loss) before reclassifications | (755) | 89 | 237 |
Reclassification Adjustment for expense included in salaries and employee benefits | 93 | 84 | 84 |
Less tax effect | (1,222) | 249 | 413 |
Other comprehensive income (loss) | 560 | (76) | (92) |
Ending Balance | (250) | (810) | (734) |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (7,970) | (4,722) | (2,846) |
Other comprehensive income (loss) before reclassifications | 2,483 | (4,678) | (2,966) |
Reclassification Adjustment for expense included in salaries and employee benefits | 182 | 482 | (141) |
Less tax effect | (90) | (948) | (1,231) |
Other comprehensive income (loss) | 2,755 | (3,248) | (1,876) |
Ending Balance | $ (5,215) | $ (7,970) | $ (4,722) |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Apr. 28, 2015 | Jun. 30, 2017 | Apr. 19, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Business Acquisition [Line Items] | ||||||
Outstanding common shares, net | 18,165,110 | 0 | 0 | |||
Shareholders' equity | $ 279,846 | $ 109,949 | $ 110,271 | $ 111,639 | ||
Core deposit intangible amortization period | 10 years | |||||
CMS Bancorp [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Acquisition date | Apr. 28, 2015 | |||||
Business Acquisition name of acquired entity | CMS Bancorp | |||||
Outstanding common shares, net | 1,941,944 | |||||
Treasury stock | 192,362 | |||||
Shareholders' equity | $ 17,800 | |||||
Business acquisition, share price | $ 13.25 | |||||
Business combination, cash consideration value | $ 23,182 | |||||
Core deposit intangible amortization period | 10 years |
Mergers and Acquisitions - Sche
Mergers and Acquisitions - Schedule of Cash Consideration Paid, Assets Acquired and Liabilities Assumed Recorded at Acquisition Date Fair Values, and Identifiable Intangible Assets Recorded at Fair Value (Detail) - USD ($) $ in Thousands | Apr. 28, 2015 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 6,106 | $ 6,106 | $ 5,843 | |
CMS Bancorp [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash consideration paid to CMS shareholders | $ 23,182 | |||
Cash | 2,533 | |||
Available for sale investment securities | 41,082 | |||
Loans | 214,778 | |||
Premises and equipment | 3,042 | |||
Other real estate owned | 183 | |||
Core deposit intangible | 887 | |||
Deferred tax assets, net | 2,022 | |||
Other assets | 1,902 | |||
Deposits | (208,261) | |||
Federal Home Loan Bank advances | (36,050) | |||
Other Liabilities | (5,042) | |||
Total Identifiable net assets | 17,076 | |||
Goodwill | 6,106 | |||
CMS Bancorp [Member] | As Acquired [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash | 2,533 | |||
Available for sale investment securities | 41,082 | |||
Loans | 218,796 | |||
Premises and equipment | 2,201 | |||
Other real estate owned | 183 | |||
Deferred tax assets, net | 193 | |||
Other assets | 2,079 | |||
Deposits | (207,391) | |||
Federal Home Loan Bank advances | (36,050) | |||
Other Liabilities | (4,984) | |||
Total Identifiable net assets | 18,642 | |||
CMS Bancorp [Member] | Fair Value Adjustments [Member] | ||||
Business Acquisition [Line Items] | ||||
Loans | (4,018) | |||
Premises and equipment | 841 | |||
Core deposit intangible | 887 | |||
Deferred tax assets, net | 1,829 | |||
Other assets | (177) | |||
Deposits | (870) | |||
Other Liabilities | (58) | |||
Total Identifiable net assets | $ (1,566) |
Fair Value of Financial Instr79
Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Carrying amount of loans | $ 782,336,000 | $ 809,648,000 | $ 782,336,000 | ||||||||
Remaining valuation allowance | 4,042,000 | 5,150,000 | 4,042,000 | $ 3,921,000 | $ 4,057,000 | ||||||
Net charge-offs | 1,129,000 | 2,133,000 | 2,191,000 | ||||||||
Provision for loan losses | $ 235,000 | $ 562,000 | $ 26,000 | 1,359,000 | $ 103,000 | $ 356,000 | $ 41,000 | 823,000 | 1,859,000 | $ 1,326,000 | |
Impaired Loans [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Carrying amount of loans | 1,500,000 | 6,300,000 | 1,500,000 | ||||||||
Remaining valuation allowance | $ 259,000 | 1,100,000 | 259,000 | ||||||||
Net charge-offs | 245,000 | 0 | |||||||||
Provision for loan losses | $ 1,400,000 | $ 175,000 | |||||||||
Minimum [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Discount rates | 10.00% | ||||||||||
Maximum [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||
Discount rates | 20.00% |
Fair Value of Financial Instr80
Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 2,096 | |
Impaired Loans [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 913 | |
Impaired Loans [Member] | Construction [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 49 | |
Impaired Loans [Member] | Commercial Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 54 | |
Impaired Loans [Member] | Consumer And Installment Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 175 | |
Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 905 | |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 2,096 | |
Level 3 [Member] | Impaired Loans [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 913 | |
Level 3 [Member] | Impaired Loans [Member] | Construction [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 49 | |
Level 3 [Member] | Impaired Loans [Member] | Commercial Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 54 | |
Level 3 [Member] | Impaired Loans [Member] | Consumer And Installment Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 175 | |
Level 3 [Member] | Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 905 | |
Measured on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 111,889 | 112,351 |
Measured on a Recurring Basis [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 63,445 | 66,132 |
Measured on a Recurring Basis [Member] | Corporate and Other Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 8,482 | 8,646 |
Measured on a Recurring Basis [Member] | Mortgage-backed Securities - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 39,930 | 37,524 |
Measured on a Recurring Basis [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 32 | 49 |
Measured on a Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 111,889 | 112,351 |
Measured on a Recurring Basis [Member] | Level 2 [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 63,445 | 66,132 |
Measured on a Recurring Basis [Member] | Level 2 [Member] | Corporate and Other Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 8,482 | 8,646 |
Measured on a Recurring Basis [Member] | Level 2 [Member] | Mortgage-backed Securities - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 39,930 | 37,524 |
Measured on a Recurring Basis [Member] | Level 2 [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 32 | 49 |
Measured on a Non-Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 6,049 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,126 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Construction [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 2,260 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Commercial Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 72 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Other Loans Secured [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,609 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5 | |
Measured on a Non-Recurring Basis [Member] | Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 977 | |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 6,049 | |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | Impaired Loans [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,126 | 913 |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | Impaired Loans [Member] | Construction [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 2,260 | 49 |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | Impaired Loans [Member] | Commercial Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 72 | |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | Impaired Loans [Member] | Other Loans Secured [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,609 | 54 |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5 | |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | Impaired Loans [Member] | Consumer And Installment Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 175 | |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 977 | $ 905 |
Fair Value of Financial Instr81
Fair Value of Financial Instruments - Summary of Quantitative Information about Level 3 Fair Value Measurements for Selected Financial Instruments Measured at Fair Value on Non-recurring Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 2,096 | |
Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 2,096 | |
Impaired Loans [Member] | Residential [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 913 | |
Impaired Loans [Member] | Residential [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 913 | |
Impaired Loans [Member] | Construction [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 49 | |
Impaired Loans [Member] | Construction [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 49 | |
Impaired Loans [Member] | Commercial Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 54 | |
Impaired Loans [Member] | Commercial Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 54 | |
Impaired Loans [Member] | Consumer And Installment Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 175 | |
Impaired Loans [Member] | Consumer And Installment Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 175 | |
Foreclosed Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 905 | |
Foreclosed Real Estate [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | 905 | |
Measured on a Non-Recurring Basis [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 6,049 | |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 6,049 | |
Valuation Technique(s) | Sales comparison | |
Unobservable Input(s) | Adjustments for differences in sales comparables | |
Range or Rate Used | 0.00% | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique(s) | Discounted cash flow | |
Unobservable Input(s) | Discount rate | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Residential [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 1,126 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Residential [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 1,126 | $ 913 |
Valuation Technique(s) | Sales comparison | Sales comparison |
Unobservable Input(s) | Adjustments for differences in sales comparables | Adjustments for differences in sales comparables |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Construction [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 2,260 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Construction [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 2,260 | $ 49 |
Valuation Technique(s) | Cost approach | Discounted cash flow |
Unobservable Input(s) | Discount for distressed property | Discount rate |
Range or Rate Used | 50.00% | 1.00% |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Other Loans Secured [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 1,609 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Other Loans Secured [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 1,609 | $ 54 |
Valuation Technique(s) | Discounted cash flow | Discounted cash flow |
Unobservable Input(s) | Discount rate | Discount rate |
Range or Rate Used | 6.00% | 4.50% |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 5 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 5 | |
Valuation Technique(s) | Discounted cash flow | |
Unobservable Input(s) | Discount rate | |
Range or Rate Used | 6.30% | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Commercial Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 72 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Commercial Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 72 | |
Valuation Technique(s) | Discounted cash flow | |
Unobservable Input(s) | Adjustments for differences in sales comparables | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Consumer And Installment Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 175 | |
Valuation Technique(s) | Discounted cash flow | |
Unobservable Input(s) | Discount rate | |
Range or Rate Used | 4.30% | |
Measured on a Non-Recurring Basis [Member] | Foreclosed Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 977 | |
Measured on a Non-Recurring Basis [Member] | Foreclosed Real Estate [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 977 | $ 905 |
Valuation Technique(s) | Sales comparison | Sales comparison |
Unobservable Input(s) | Adjustments for differences in sales comparables | Adjustments for differences in sales comparables |
Measured on a Non-Recurring Basis [Member] | Minimum [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range or Rate Used | 5.40% | |
Measured on a Non-Recurring Basis [Member] | Minimum [Member] | Impaired Loans [Member] | Residential [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range or Rate Used | (5.10%) | (2.00%) |
Measured on a Non-Recurring Basis [Member] | Minimum [Member] | Impaired Loans [Member] | Commercial Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range or Rate Used | 7.00% | |
Measured on a Non-Recurring Basis [Member] | Minimum [Member] | Foreclosed Real Estate [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range or Rate Used | (23.40%) | (14.30%) |
Measured on a Non-Recurring Basis [Member] | Maximum [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range or Rate Used | 6.30% | |
Measured on a Non-Recurring Basis [Member] | Maximum [Member] | Impaired Loans [Member] | Residential [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range or Rate Used | 7.80% | 13.30% |
Measured on a Non-Recurring Basis [Member] | Maximum [Member] | Impaired Loans [Member] | Commercial Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range or Rate Used | 7.50% | |
Measured on a Non-Recurring Basis [Member] | Maximum [Member] | Foreclosed Real Estate [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range or Rate Used | 7.20% | 7.50% |
Fair Value of Financial Instr82
Fair Value of Financial Instruments - Summary of Carrying Amounts and Estimated Fair Values of Bank's Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Financial assets: | ||
Investment securities held to maturity | $ 383,588 | $ 273,317 |
Investment securities available for sale | 111,889 | 112,351 |
Carrying Amount [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 60,486 | 41,578 |
Investment securities held to maturity | 383,551 | 270,679 |
Investment securities available for sale | 111,889 | 112,351 |
Loans receivable, net | 809,648 | 782,336 |
Accrued interest receivable | 3,693 | 3,361 |
Federal Home Loan Bank stock | 3,132 | 2,047 |
Financial liabilities: | ||
Mortgage escrow funds | 8,084 | 7,023 |
FHLB advances | 42,598 | 20,081 |
Carrying Amount [Member] | Demand, NOW, Money Market Deposits and Savings Accounts [Member] | ||
Financial liabilities: | ||
Time deposits | 793,681 | 781,638 |
Carrying Amount [Member] | Time Certificate Deposits [Member] | ||
Financial liabilities: | ||
Time deposits | 294,780 | 331,057 |
Total [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 60,486 | 41,578 |
Investment securities held to maturity | 383,588 | 273,317 |
Investment securities available for sale | 111,889 | 112,351 |
Loans receivable, net | 817,814 | 799,242 |
Accrued interest receivable | 3,693 | 3,361 |
Financial liabilities: | ||
Mortgage escrow funds | 8,084 | 7,023 |
FHLB advances | 45,504 | 20,171 |
Total [Member] | Demand, NOW, Money Market Deposits and Savings Accounts [Member] | ||
Financial liabilities: | ||
Time deposits | 793,681 | 781,638 |
Total [Member] | Time Certificate Deposits [Member] | ||
Financial liabilities: | ||
Time deposits | 297,508 | 334,290 |
Level 1 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 60,486 | 41,578 |
Financial liabilities: | ||
Mortgage escrow funds | 8,084 | 7,023 |
Level 1 [Member] | Demand, NOW, Money Market Deposits and Savings Accounts [Member] | ||
Financial liabilities: | ||
Time deposits | 793,681 | 781,638 |
Level 2 [Member] | ||
Financial assets: | ||
Investment securities held to maturity | 383,318 | 273,032 |
Investment securities available for sale | 111,889 | 112,351 |
Accrued interest receivable | 1,243 | 958 |
Financial liabilities: | ||
FHLB advances | 45,504 | 20,171 |
Level 2 [Member] | Time Certificate Deposits [Member] | ||
Financial liabilities: | ||
Time deposits | 297,508 | 334,290 |
Level 3 [Member] | ||
Financial assets: | ||
Investment securities held to maturity | 270 | 285 |
Loans receivable, net | 817,814 | 799,242 |
Accrued interest receivable | $ 2,450 | $ 2,403 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Current tax expense (benefit) | |||||||||||
Federal | $ 1,344 | $ (6) | $ 406 | ||||||||
State | (52) | (476) | (290) | ||||||||
Total current tax expense (benefit) | 1,292 | (482) | 116 | ||||||||
Deferred tax expense | |||||||||||
Federal | (52) | 1,216 | 183 | ||||||||
State | (21) | 250 | (53) | ||||||||
Total deferred tax expense | (73) | 1,466 | 130 | ||||||||
State tax valuation allowances, net of federal benefit | 47 | 149 | 456 | ||||||||
Total | $ (1,017) | $ 878 | $ 758 | $ 647 | $ (181) | $ 468 | $ 278 | $ 568 | $ 1,266 | $ 1,133 | $ 702 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Income Taxes [Line Items] | ||
Federal statutory tax rate | 34.00% | |
Charitable contribution carryforwards | $ 4,700,000 | |
Charitable contribution carryforwards expiration year | 2,019 | |
Base-year tax bad debt reserves | $ 2,800,000 | $ 2,800,000 |
Deferred tax liabilities not been recognized of bad debt reserves | 1,000,000 | 1,000,000 |
Unrecognized tax benefits recorded | 0 | $ 0 |
Unrecognized tax benefits to significantly increase or decrease in the next twelve months | 0 | |
Federal [Member] | ||
Income Taxes [Line Items] | ||
Operating loss carryforwards, net | $ 615,000,000 | |
Operating loss carryforwards expiration year | 2,035 | |
New York State [Member] | ||
Income Taxes [Line Items] | ||
Operating loss carryforwards, net | $ 7,100,000 | |
Operating loss carryforwards expiration year | 2,034 | |
Maximum [Member] | ||
Income Taxes [Line Items] | ||
Charitable contribution carryforwards expiration period | 5 years |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |||||||||||
Tax at federal statutory rate of 34% | $ 1,529 | $ 1,380 | $ 411 | ||||||||
State Taxes, net of federal benefit | 229 | ||||||||||
Tax-exempt income | (47) | (49) | (56) | ||||||||
BOLI income | (211) | (156) | (101) | ||||||||
Non-deductible acquisition related costs | 139 | ||||||||||
Other, net | (5) | (42) | 80 | ||||||||
Total | $ (1,017) | $ 878 | $ 758 | $ 647 | $ (181) | $ 468 | $ 278 | $ 568 | $ 1,266 | $ 1,133 | $ 702 |
Income Taxes - Schedule of Ef86
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) (Parenthetical) | 12 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Federal statutory tax rate | 34.00% |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Deferred Tax Assets: | ||
Allowance for Loan Losses | $ 1,983 | $ 1,568 |
Deferred compensation | 1,071 | 911 |
Purchase accounting adjustments | 277 | 542 |
Deferred rent | 380 | 263 |
Other compensation loss (defined benefit plans) | 2,706 | 4,375 |
Depreciation of premises and equipment | 405 | 417 |
NOL carryforward | 602 | 1,066 |
Charitable contribution carryforward | 1,820 | 139 |
Nonaccrual loan interest | 540 | 661 |
Other | 104 | 54 |
Total deferred tax assets | 9,888 | 9,996 |
Deferred tax liabilities: | ||
Prepaid pension costs | 3,622 | 2,393 |
Deferred loan costs and fees, net | 457 | 463 |
Other comprehensive income (securities) | 19 | 269 |
Other | 368 | 102 |
Total deferred tax liabilities | 4,466 | 3,227 |
Deferred tax asset valuation allowance | (652) | (605) |
Net Deferred Tax Asset | $ 4,770 | $ 6,164 |
Post-Retirement Benefits - Addi
Post-Retirement Benefits - Additional Information (Detail) - USD ($) | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||
Jun. 30, 2017 | Feb. 28, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Curtailment gain from reduction to salaries and employee benefits expense | $ 919,000 | |||||
Effective date of freezing and termination of the defined benefit pension plan | May 1, 2017 | |||||
Defined benefit pension plan, cease termination date | Sep. 20, 2017 | |||||
Defined benefit plan, contributions by employer | $ 3,000,000 | |||||
Percentage of investment in plan assets | 100.00% | 100.00% | 100.00% | |||
Estimated long-term inflation rate | 3.00% | |||||
Expected return on plan assets | 7.50% | |||||
ESOP shares | 1,453,209 | 1,453,209 | ||||
Stock price | $ 10 | $ 10 | ||||
ESOP payable term | 15 years | |||||
ESOP prime rate percentage | 4.00% | |||||
ESOP borrowing | $ 14,500 | $ 14,500 | ||||
Number of shares committed to be released per year through 2032 | 96,881 | 96,881 | ||||
Fair value of unallocated shares held by ESOP | $ 24,300,000 | $ 24,300,000 | ||||
ESOP Compensation | $ 454,000 | |||||
Equity Mutual Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percentage of investment in plan assets | 65.00% | 65.00% | 58.00% | |||
Equity Mutual Funds [Member] | Minimum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Expected return on plan assets | 6.00% | |||||
Equity Mutual Funds [Member] | Maximum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Expected return on plan assets | 8.00% | |||||
Cash Equivalents [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percentage of investment in plan assets | 1.00% | 1.00% | 5.00% | |||
Fixed Income Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percentage of investment in plan assets | 34.00% | 34.00% | 37.00% | |||
Fixed Income Securities [Member] | Minimum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Expected return on plan assets | 3.00% | |||||
Fixed Income Securities [Member] | Maximum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Expected return on plan assets | 5.00% | |||||
Scenario Forecast [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined benefit plan, contributions by employer | $ 0 | |||||
Employee Pension Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Net loss | $ 7,579,000 | $ 7,579,000 | $ 12,751,000 | |||
Prior service (credit) cost | $ (1,110,000) | |||||
Defined benefit plan, contributions by employer | $ 3,000,000 | |||||
Temporary increase in percentage of bond fund portion | 50.00% | 50.00% | ||||
Expected return on plan assets | 7.50% | 7.50% | 7.50% | |||
Benefits Paid | $ 828,000 | $ 822,000 | ||||
Assumed discount rates used | 3.87% | 3.87% | 3.61% | |||
Rates of compensation increases used | 3.00% | |||||
Employee Pension Plan [Member] | Minimum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Asset rebalancing threshold | 10.00% | 10.00% | ||||
Employee Pension Plan [Member] | Equity Mutual Funds [Member] | Long-Term Objective [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percentage of investment in plan assets | 65.00% | 65.00% | ||||
Employee Pension Plan [Member] | Debt Securities [Member] | Long-Term Objective [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percentage of investment in plan assets | 34.00% | 34.00% | ||||
Employee Pension Plan [Member] | Cash Equivalents [Member] | Long-Term Objective [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percentage of investment in plan assets | 1.00% | 1.00% | ||||
Employee Pension Plan [Member] | Scenario Forecast [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Net loss | 725,000 | |||||
Prior service (credit) cost | $ 0 | |||||
Defined Contribution Retirement Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined contribution plan, description | The Company maintained a defined contribution plan for eligible employees hired after October 1, 2012. All full-time employees who have attained age twenty-one and have a minimum of one year of service received a contribution to their 401(k) account equal to 5% of their salary. | |||||
Defined contribution plan for eligible employee who hired after | Oct. 1, 2012 | |||||
Defined contribution plan, minimum age for eligibility to receive contribution | 21 years | |||||
Defined contribution plan, minimum period of service to receive contribution | 1 year | |||||
Rate of contribution receive by employee on salary | 5.00% | |||||
Plan expense | $ 120,000 | $ 162,000 | $ 60,000 | |||
Future plan expense | $ 0 | |||||
401 (k) Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined contribution plan, minimum age for eligibility to receive contribution | 21 years | |||||
Defined contribution plan, minimum period of service to receive contribution | 1 year | |||||
Rate of contribution receive by employee on salary | 10.00% | |||||
Employee contribution minimum percentage rate | 2.00% | |||||
Employer matching contribution, percent of match | 75.00% | |||||
Employer matching contribution, percent of employee gross pay | 6.00% | |||||
Defined contribution savings plan expense | $ 418,000 | 410,000 | 339,000 | |||
Acquired Pension Plan [Member] | CMS Bancorp [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Termination of pension plan and chargeable to earning | 629,000 | |||||
Supplemental Retirement Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Net loss | $ 379,000 | 379,000 | 1,200,000 | |||
Accrued benefit cost | 3,000,000 | 3,000,000 | 3,500,000 | |||
Projected benefit obligation and accumulated benefit obligation | 3,000,000 | 3,000,000 | 3,500,000 | |||
Pension expense | 615,000 | 539,000 | 490,000 | |||
Benefits Paid | 272,000 | $ 272,000 | $ 272,000 | |||
Estimated amortization of net loss | $ 34,000 | $ 34,000 | ||||
Supplemental Retirement Plan [Member] | Minimum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Assumed discount rates used | 3.70% | 3.70% | ||||
Rates of compensation increases used | 3.70% | 3.70% | ||||
Supplemental Retirement Plan [Member] | Maximum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Assumed discount rates used | 3.87% | 3.87% | ||||
Rates of compensation increases used | 3.87% | 3.87% |
Post-Retirement Benefits - Summ
Post-Retirement Benefits - Summary of Plan's Funded Status (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Change in plan assets, at fair value: | ||
Employer contributions | $ 3,000 | |
Employee Pension Plan [Member] | ||
Change in benefit obligation: | ||
Beginning benefit obligation | 28,670 | $ 25,021 |
Service Cost | 602 | 626 |
Interest Cost | 1,002 | 1,086 |
Actuarial (Gain) Loss | (2,013) | 2,923 |
Benefits Paid | (828) | (822) |
Settlements | (1,301) | (164) |
Curtailment | (518) | |
Ending benefit obligation | 25,614 | 28,670 |
Change in plan assets, at fair value: | ||
Beginning plan assets | 23,215 | 24,503 |
Actual return | 3,358 | (302) |
Employer contributions | 3,000 | |
Benefits paid | (828) | (822) |
Settlements | (1,301) | (164) |
Ending Plan assets | 27,444 | 23,215 |
Funded Status | 1,830 | (5,455) |
Accumulated Benefit Obligation | $ 25,614 | $ 28,167 |
Post-Retirement Benefits - Su90
Post-Retirement Benefits - Summary of Net Period Pension Cost, Contributions and Benefits Paid (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | $ 3,000 | |
Employee Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net period pension cost | (224) | $ 483 |
Employer contributions | 3,000 | |
Benefits paid | $ 828 | $ 822 |
Post-Retirement Benefits - Su91
Post-Retirement Benefits - Summary of Pre-tax Amounts Recognized in Accumulated Other Comprehensive Loss (Detail) - Employee Pension Plan [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss | $ 7,579 | $ 12,751 |
Prior service (credit) cost | (1,110) | |
Pre-tax amounts recognized in accumulated other comprehensive loss | $ 7,579 | $ 11,641 |
Post-Retirement Benefits - Sche
Post-Retirement Benefits - Schedule of Net Periodic Pension Cost and Other Amounts Recognized in Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Employee Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 602 | $ 626 | $ 582 |
Interest cost | 1,002 | 1,086 | 949 |
Expected return on plan assets | (1,917) | (1,796) | (1,710) |
Amortization of prior net loss | 1,200 | 854 | 513 |
Amortization of prior service cost | (192) | (287) | (287) |
Gain on curtailment | (919) | ||
New past service liability | 602 | 626 | 582 |
Net periodic (credit) cost | (224) | 483 | 47 |
Service cost | 602 | 626 | |
Interest cost | 1,002 | 1,086 | |
Supplemental Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of prior net loss | 93 | 84 | 84 |
Service cost | 398 | 322 | 288 |
Interest cost | 124 | 133 | 118 |
Net periodic cost | $ 615 | $ 539 | $ 490 |
Post-Retirement Benefits - Sc93
Post-Retirement Benefits - Schedule of Benefit Payments which Reflects Expected Future Service (Detail) $ in Thousands | Jun. 30, 2017USD ($) |
Employee Pension Plan [Member] | |
Defined Benefit Plan Estimated Future Benefit Payments [Line Items] | |
2,018 | $ 1,187 |
2,019 | 1,252 |
2,020 | 1,283 |
2,021 | 1,338 |
2,022 | 1,396 |
Following five years | 7,089 |
Supplemental Retirement Plan [Member] | |
Defined Benefit Plan Estimated Future Benefit Payments [Line Items] | |
2,018 | 272 |
2,019 | 272 |
2,020 | 272 |
2,021 | 3,021 |
2,022 | 272 |
Following five years | $ 2,736 |
Post-Retirement Benefits - Weig
Post-Retirement Benefits - Weighted-Average Assumptions Used to Determine Pension Benefit Obligations (Detail) - Employee Pension Plan [Member] | Jun. 30, 2017 | Jun. 30, 2016 |
Defined Benefit Plan Disclosure [Line Items] | ||
Discount Rate | 3.87% | 3.61% |
Rate of compensation increase | 3.00% |
Post-Retirement Benefits - We95
Post-Retirement Benefits - Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost (Detail) | 4 Months Ended | 8 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Feb. 28, 2017 | Jun. 30, 2017 | Jun. 30, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected return on plan assets | 7.50% | |||
Employee Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount Rate | 4.04% | 3.61% | 4.44% | |
Expected return on plan assets | 7.50% | 7.50% | 7.50% | |
Rate of compensation increase | 3.00% | 3.00% |
Post-Retirement Benefits - Sc96
Post-Retirement Benefits - Schedule of Actual Pension Plan Asset Allocation, Target Allocation and Expected Long-Term Rate of Return by Asset Category (Detail) | Jun. 30, 2017 | Jun. 30, 2016 |
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 100.00% | |
Percentage of Plan Assets | 100.00% | 100.00% |
Equity Mutual Funds And Common/Collective Trusts [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 65.00% | |
Percentage of Plan Assets | 65.00% | 58.00% |
Fixed Income Common/Collective Trusts [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 34.00% | |
Percentage of Plan Assets | 34.00% | 37.00% |
Cash Equivalents [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation | 1.00% | |
Percentage of Plan Assets | 1.00% | 5.00% |
Post-Retirement Benefits - Sc97
Post-Retirement Benefits - Schedule of Fair Value of Plan Assets (Detail) - Employee Pension Plan [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 27,444 | $ 23,215 | $ 24,503 |
Carrying Amount [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 27,444 | 23,215 | |
Estimate of Fair Value Measurement [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 289 | 1,031 | |
Estimate of Fair Value Measurement [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 27,155 | 22,184 | |
Equity Mutual Funds And Common/Collective Trusts [Member] | Carrying Amount [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17,704 | 13,500 | |
Equity Mutual Funds And Common/Collective Trusts [Member] | Estimate of Fair Value Measurement [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17,704 | 13,500 | |
Fixed Income Common/Collective Trusts [Member] | Carrying Amount [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 9,451 | 8,684 | |
Fixed Income Common/Collective Trusts [Member] | Estimate of Fair Value Measurement [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 9,451 | 8,684 | |
Cash Equivalents [Member] | Carrying Amount [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 289 | 1,031 | |
Cash Equivalents [Member] | Estimate of Fair Value Measurement [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 289 | $ 1,031 |
Post-Retirement Benefits - Shar
Post-Retirement Benefits - Shares Held by ESOP (Detail) | Jun. 30, 2017shares |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Committed to be allocated | 26,975 |
Unallocated | 1,426,234 |
Total | 1,453,209 |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Company's and Bank's Actual Capital Amounts and Ratios Compared to Required Ratios for Minimum Capital Adequacy and for Classification as Well Capitalized (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Leverage (Tier 1), Bank Actual Amount | $ 278,528 | |
Common Tier 1, Bank Actual Amount | 278,528 | |
Tier 1, Bank Actual Amount | 278,528 | |
Total, Bank Actual Amount | $ 283,678 | |
Leverage (Tier 1), Bank Actual Ratio | 20.00% | |
Common Tier 1, Bank Actual Ratio | 31.60% | |
Tier 1, Bank Actual Ratio | 31.60% | |
Total, Bank Actual Ratio | 32.20% | |
Leverage (Tier 1), For Capital Adequacy Purposes Amount | $ 55,839 | |
Common Tier 1, For Capital Adequacy Purposes Amount | 39,631 | |
Tier 1, For Capital Adequacy Purposes Amount | 52,841 | |
Total, For Capital Adequacy Purposes Amount | $ 70,455 | |
Leverage (Tier 1), For Capital Adequacy Purposes Ratio | 4.00% | |
Common Tier 1, For Capital Adequacy Purposes Ratio | 4.50% | |
Tier 1, For Capital Adequacy Purposes Ratio | 6.00% | |
Total, For Captial Adequacy Purposes Ratio | 8.00% | |
PCSB Commercial Bank [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Leverage (Tier 1), Bank Actual Amount | $ 190,990 | $ 110,888 |
Common Tier 1, Bank Actual Amount | 190,990 | 110,888 |
Tier 1, Bank Actual Amount | 190,990 | 110,888 |
Total, Bank Actual Amount | $ 196,140 | $ 110,888 |
Leverage (Tier 1), Bank Actual Ratio | 13.70% | 8.90% |
Common Tier 1, Bank Actual Ratio | 21.70% | 13.50% |
Tier 1, Bank Actual Ratio | 21.70% | 13.50% |
Total, Bank Actual Ratio | 22.30% | 14.00% |
Leverage (Tier 1), For Capital Adequacy Purposes Amount | $ 55,949 | $ 49,748 |
Common Tier 1, For Capital Adequacy Purposes Amount | 39,631 | 37,036 |
Tier 1, For Capital Adequacy Purposes Amount | 52,841 | 49,382 |
Total, For Capital Adequacy Purposes Amount | $ 70,455 | $ 65,842 |
Leverage (Tier 1), For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Common Tier 1, For Capital Adequacy Purposes Ratio | 4.50% | 4.50% |
Tier 1, For Capital Adequacy Purposes Ratio | 6.00% | 6.00% |
Total, For Captial Adequacy Purposes Ratio | 8.00% | 8.00% |
Leverage (Tier 1), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 69,936 | $ 62,185 |
Common Tier 1, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 57,245 | 53,497 |
Tier 1, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 70,455 | 65,842 |
Total, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 88,069 | $ 82,303 |
Leverage (Tier 1), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Common Tier 1, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | 6.50% |
Tier 1, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 8.00% |
Total, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital conservation buffer, phase period | 4 years | |
Capital conservation buffer percentage at beginning period | 1.25% | 0.625% |
Minimum [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital conservation buffer percentage required under regulatory | 2.50% |
Related Party Disclosures - Add
Related Party Disclosures - Additional Information (Detail) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Related Party Transaction [Line Items] | ||
Deposits from executive officers, directors and their affiliates | $ 2,200,000 | $ 2,900,000 |
PCSB Bank [Member] | ||
Related Party Transaction [Line Items] | ||
Insider loans | $ 0 | $ 0 |
Parent Company Only Financia102
Parent Company Only Financial Statements - Additional Information (Detail) | 12 Months Ended |
Jun. 30, 2017 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Date of establishment | Dec. 9, 2016 |
Parent Company Only Financia103
Parent Company Only Financial Statements - Parent Company Only Financial Statements (Consolidated Balance Sheets) (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Assets | ||||
Cash and cash equivalents | $ 60,486 | $ 41,578 | $ 77,761 | $ 105,250 |
Other Assets | 5,509 | 2,511 | ||
Total assets | 1,426,458 | 1,262,071 | ||
Liabilities and stockholders' equity | ||||
Other Liabilities | 7,469 | 12,323 | ||
Shareholders' equity | 279,846 | 109,949 | $ 110,271 | $ 111,639 |
Total liabilities and shareholders’ equity | 1,426,458 | $ 1,262,071 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash and cash equivalents | 71,273 | |||
Investment in Bank | 192,308 | |||
ESOP Loan receivable | 14,532 | |||
Other Assets | 1,888 | |||
Total assets | 280,001 | |||
Liabilities and stockholders' equity | ||||
Other Liabilities | 155 | |||
Shareholders' equity | 279,846 | |||
Total liabilities and shareholders’ equity | $ 280,001 |
Parent Company Only Financia104
Parent Company Only Financial Statements - Parent Company Only Financial Statements (Consolidated Statements of Operations) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Condensed Income Statements Captions [Line Items] | |||||||||||
Interest Income | $ 9,405 | $ 8,958 | $ 8,527 | $ 8,775 | $ 8,701 | $ 8,676 | $ 8,371 | $ 8,484 | $ 35,665 | $ 34,232 | $ 24,943 |
Contribution to PCSB Foundation | 5,000 | ||||||||||
Other non-interest expenses | 3,581 | 3,633 | 2,639 | ||||||||
Net income before income tax expense | (2,807) | 2,769 | 2,430 | 2,103 | (337) | 1,567 | 1,005 | 1,824 | 4,495 | 4,059 | 1,210 |
Income tax (benefit) | (1,017) | 878 | 758 | 647 | (181) | 468 | 278 | 568 | 1,266 | 1,133 | 702 |
Net income | $ (1,790) | $ 1,891 | $ 1,672 | $ 1,456 | $ (156) | $ 1,099 | $ 727 | $ 1,256 | 3,229 | $ 2,926 | $ 508 |
Parent Company [Member] | |||||||||||
Condensed Income Statements Captions [Line Items] | |||||||||||
Interest Income | 125 | ||||||||||
Equity in income of Bank | 1,055 | ||||||||||
Contribution to PCSB Foundation | 5,000 | ||||||||||
Other non-interest expenses | 105 | ||||||||||
Net income before income tax expense | (3,925) | ||||||||||
Income tax (benefit) | (1,693) | ||||||||||
Net income | $ (2,232) |
Parent Company Only Financia105
Parent Company Only Financial Statements - Parent Company Only Financial Statements (Consolidated Statements of Cash Flows) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Cash Flows from Operating Activities: | |||||||||||
Net income | $ (1,790) | $ 1,891 | $ 1,672 | $ 1,456 | $ (156) | $ 1,099 | $ 727 | $ 1,256 | $ 3,229 | $ 2,926 | $ 508 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Deferred tax expense | (26) | 1,299 | 586 | ||||||||
Net decrease/(increase) in accrued interest receivable | (332) | (127) | 45 | ||||||||
Other adjustments, principally net changes in other assets and liabilities | (588) | (431) | (2,203) | ||||||||
Net cash provided by operating activities | 7,835 | 5,945 | 1,642 | ||||||||
Cash Flows from Investing Activities: | |||||||||||
Net cash (used in) investing activities | (148,468) | (101,372) | (3,870) | ||||||||
Cash Flows from Financing Activities: | |||||||||||
Issuance of common stock | 160,072 | ||||||||||
Net cash provided by (used in) financing activities | 159,541 | 59,244 | (25,261) | ||||||||
Net increase in cash and cash equivalents | 18,908 | (36,183) | (27,489) | ||||||||
Cash and cash equivalents at beginning of period | $ 41,578 | $ 77,761 | 41,578 | 77,761 | 105,250 | ||||||
Cash and cash equivalents at end of period | 60,486 | $ 41,578 | 60,486 | $ 41,578 | $ 77,761 | ||||||
Parent Company [Member] | |||||||||||
Cash Flows from Operating Activities: | |||||||||||
Net income | (2,232) | ||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in income of Bank | (1,055) | ||||||||||
Issuance of stock to PCSB Foundation | 3,387 | ||||||||||
Deferred tax expense | (1,482) | ||||||||||
Net decrease/(increase) in accrued interest receivable | (113) | ||||||||||
Other adjustments, principally net changes in other assets and liabilities | 46 | ||||||||||
Net cash provided by operating activities | (1,449) | ||||||||||
Cash Flows from Investing Activities: | |||||||||||
Investment in PCSB Bank | (87,350) | ||||||||||
Increase in ESOP loan | (14,532) | ||||||||||
Net cash (used in) investing activities | (101,882) | ||||||||||
Cash Flows from Financing Activities: | |||||||||||
Issuance of common stock | 174,604 | ||||||||||
Net cash provided by (used in) financing activities | 174,604 | ||||||||||
Net increase in cash and cash equivalents | 71,273 | ||||||||||
Cash and cash equivalents at end of period | $ 71,273 | $ 71,273 |
Quarterly Financial Informat106
Quarterly Financial Information (Unaudited) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net interest income | $ 9,405 | $ 8,958 | $ 8,527 | $ 8,775 | $ 8,701 | $ 8,676 | $ 8,371 | $ 8,484 | $ 35,665 | $ 34,232 | $ 24,943 |
Provision for loan losses | 235 | 562 | 26 | 1,359 | 103 | 356 | 41 | 823 | 1,859 | 1,326 | |
Net interest income after provision for loan losses | 9,405 | 8,723 | 7,965 | 8,749 | 7,342 | 8,573 | 8,015 | 8,443 | 34,842 | 32,373 | 23,617 |
Non-interest income | 647 | 626 | 2,259 | 552 | 535 | 518 | 470 | 428 | 4,084 | 1,951 | 1,567 |
Non-interest expense | 12,859 | 6,580 | 7,794 | 7,198 | 8,214 | 7,524 | 7,480 | 7,047 | 34,431 | 30,265 | 23,974 |
Income before taxes | (2,807) | 2,769 | 2,430 | 2,103 | (337) | 1,567 | 1,005 | 1,824 | 4,495 | 4,059 | 1,210 |
Income tax expense | (1,017) | 878 | 758 | 647 | (181) | 468 | 278 | 568 | 1,266 | 1,133 | 702 |
Net Income | $ (1,790) | $ 1,891 | $ 1,672 | $ 1,456 | $ (156) | $ 1,099 | $ 727 | $ 1,256 | $ 3,229 | $ 2,926 | $ 508 |