Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Dec. 31, 2018 | Feb. 06, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2018 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | PCSB | |
Entity Registrant Name | PCSB Financial Corp | |
Entity Central Index Key | 1,691,337 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Common Stock, Shares Outstanding | 17,804,039 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
ASSETS | ||
Cash and due from banks | $ 141,569 | $ 60,684 |
Federal funds sold | 1,550 | 1,461 |
Total cash and cash equivalents | 143,119 | 62,145 |
Held to maturity debt securities, at amortized cost (fair value of $351,701 and $343,188, respectively) | 359,777 | 353,183 |
Available for sale debt securities, at fair value | 92,686 | 105,472 |
Total investment securities | 452,463 | 458,655 |
Loans receivable, net of allowance for loan losses of $4,943 and $4,904, respectively | 904,377 | 902,336 |
Accrued interest receivable | 4,457 | 4,358 |
Federal Home Loan Bank stock | 2,385 | 2,050 |
Premises and equipment, net | 11,429 | 11,598 |
Deferred tax asset, net | 2,436 | 2,622 |
Foreclosed real estate | 572 | 460 |
Bank-owned life insurance | 24,026 | 23,747 |
Goodwill | 6,106 | 6,106 |
Other intangible assets | 376 | 433 |
Other assets | 5,569 | 5,677 |
Total assets | 1,557,315 | 1,480,187 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Interest bearing deposits | 1,063,211 | 1,025,574 |
Non-interest bearing deposits | 162,113 | 131,883 |
Total deposits | 1,225,324 | 1,157,457 |
Mortgage escrow funds | 9,085 | 8,803 |
Advances from Federal Home Loan Bank | 26,279 | 18,841 |
Other liabilities | 7,845 | 7,527 |
Total liabilities | 1,268,533 | 1,192,628 |
Commitments and contingencies | ||
Preferred stock ($0.01 par value, 10,000,000 shares authorized, no shares issued or outstanding as of December 31, 2018 and June 30, 2018) | ||
Common stock ($0.01 par value, 200,000,000 shares authorized, 18,712,295 and 18,165,110 shares issued, and 18,490,225 and 18,165,110 shares outstanding as of December 31, 2018 and June 30, 2018) | 187 | 182 |
Additional paid in capital | 180,003 | 179,045 |
Retained earnings | 131,993 | 128,365 |
Unearned compensation - ESOP | (12,594) | (13,083) |
Accumulated other comprehensive loss, net of income taxes | (6,471) | (6,950) |
Treasury stock, at cost (222,070 shares as of December 31, 2018 and no shares as of June 30, 2018) | (4,336) | |
Total shareholders' equity | 288,782 | 287,559 |
Total liabilities and shareholders' equity | $ 1,557,315 | $ 1,480,187 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Statement Of Financial Position [Abstract] | ||
Held to maturity investment securities, fair value | $ 351,701 | $ 343,188 |
Allowance for loan losses | $ 4,943 | $ 4,904 |
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 | 18,712,295 | 18,165,110 |
Common Stock, shares outstanding | 18,490,225 | 18,165,110 |
Treasury Stock, Shares | 222,070 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest and dividend income | ||||
Loans receivable | $ 10,321,000 | $ 9,171,000 | $ 20,219,000 | $ 17,989,000 |
Investment securities | 2,428,000 | 2,269,000 | 4,794,000 | 4,514,000 |
Federal funds and other | 491,000 | 217,000 | 836,000 | 451,000 |
Total interest and dividend income | 13,240,000 | 11,657,000 | 25,849,000 | 22,954,000 |
Interest expense | ||||
Deposits | 2,375,000 | 1,307,000 | 4,431,000 | 2,574,000 |
FHLB advances | 121,000 | 164,000 | 210,000 | 318,000 |
Total interest expense | 2,496,000 | 1,471,000 | 4,641,000 | 2,892,000 |
Net interest income | 10,744,000 | 10,186,000 | 21,208,000 | 20,062,000 |
Provision for loan losses | 6,000 | 200,000 | 64,000 | 335,000 |
Net interest income after provision for loan losses | 10,738,000 | 9,986,000 | 21,144,000 | 19,727,000 |
Noninterest income | ||||
Fees and service charges | 457,000 | 412,000 | 875,000 | 793,000 |
Bank-owned life insurance | 139,000 | 145,000 | 279,000 | 294,000 |
Gain on sale of securities, net | 55,000 | 55,000 | 173,000 | |
Other | 269,000 | 135,000 | 352,000 | 146,000 |
Total noninterest income | 920,000 | 692,000 | 1,561,000 | 1,406,000 |
Noninterest expense | ||||
Salaries and employee benefits | 5,444,000 | 4,870,000 | 10,584,000 | 9,730,000 |
Occupancy and equipment | 1,284,000 | 1,296,000 | 2,525,000 | 2,578,000 |
Communicating and data processing | 482,000 | 479,000 | 954,000 | 970,000 |
Professional fees | 417,000 | 379,000 | 786,000 | 792,000 |
Postage, printing, stationary and supplies | 178,000 | 142,000 | 316,000 | 274,000 |
FDIC assessment | 124,000 | 64,000 | 217,000 | 142,000 |
Advertising | 131,000 | 179,000 | 218,000 | 344,000 |
Amortization of intangible assets | 28,000 | 33,000 | 56,000 | 65,000 |
Other operating expenses | 492,000 | 683,000 | 932,000 | 1,124,000 |
Total noninterest expense | 8,580,000 | 8,125,000 | 16,588,000 | 16,019,000 |
Net income before income tax expense | 3,078,000 | 2,553,000 | 6,117,000 | 5,114,000 |
Income tax expense | 754,000 | 2,551,000 | 1,464,000 | 3,356,000 |
Net income | $ 2,324,000 | $ 2,000 | $ 4,653,000 | $ 1,758,000 |
Earnings per common share: | ||||
Basic | $ 0.14 | $ 0.28 | $ 0.10 | |
Diluted | $ 0.14 | $ 0.28 | $ 0.10 | |
Weighted average common shares: | ||||
Basic | 16,852,718 | 16,791,305 | 16,860,942 | 16,773,883 |
Diluted | 16,868,464 | 16,791,305 | 16,868,815 | 16,773,883 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 2,324 | $ 2 | $ 4,653 | $ 1,758 |
Unrealized gains (losses) on available for sale debt securities: | ||||
Net change in unrealized gains/losses before reclassification adjustment | 506 | (717) | 353 | (930) |
Reclassification adjustment for gains realized in net income | (55) | (55) | (139) | |
Net change in unrealized gains/losses | 451 | (717) | 298 | (1,069) |
Tax effect | (94) | 243 | (62) | 363 |
Net of tax | 357 | (474) | 236 | (706) |
Defined benefit pension plan and supplemental retirement plans: | ||||
Total other comprehensive income (loss) | 478 | (348) | 479 | (455) |
Comprehensive income (loss) | 2,802 | (346) | 5,132 | 1,303 |
Pension Benefits [Member] | ||||
Defined benefit pension plan and supplemental retirement plans: | ||||
Reclassification adjustment for amortization of prior service cost and net gain (loss) included in net periodic pension cost | 145 | 181 | 290 | 362 |
Tax effect | (31) | (61) | (61) | (123) |
Net of tax | 114 | 120 | 229 | 239 |
SERP Benefits [Member] | ||||
Defined benefit pension plan and supplemental retirement plans: | ||||
Reclassification adjustment for amortization of prior service cost and net gain (loss) included in net periodic pension cost | 9 | 8 | 18 | 16 |
Tax effect | (2) | (2) | (4) | (4) |
Net of tax | $ 7 | $ 6 | $ 14 | $ 12 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Unallocated Common Stock of ESOP [Member] | Treasury Stock, at Cost [Member] | Accumulated Other Comprehensive Loss [Member] | |
Beginning Balance at Jun. 30, 2017 | $ 279,846 | $ 182 | $ 177,993 | $ 121,148 | $ (14,262) | $ (5,215) | ||
Beginning Balance (in shares) at Jun. 30, 2017 | 18,165,110 | |||||||
Net income | 1,758 | 1,758 | ||||||
Other comprehensive income (loss) | (455) | (455) | ||||||
Issuance of common stock | [1] | (17) | (17) | |||||
ESOP shares committed to be released | 1,279 | 580 | 699 | |||||
Ending Balance at Dec. 31, 2017 | 282,411 | $ 182 | 178,556 | 122,906 | (13,563) | (5,670) | ||
Ending Balance (in shares) at Dec. 31, 2017 | 18,165,110 | |||||||
Beginning Balance at Sep. 30, 2017 | (5,322) | |||||||
Net income | 2 | |||||||
Other comprehensive income (loss) | (348) | (348) | ||||||
Ending Balance at Dec. 31, 2017 | 282,411 | $ 182 | 178,556 | 122,906 | (13,563) | (5,670) | ||
Ending Balance (in shares) at Dec. 31, 2017 | 18,165,110 | |||||||
Beginning Balance at Jun. 30, 2018 | 287,559 | $ 182 | 179,045 | 128,365 | (13,083) | (6,950) | ||
Beginning Balance (in shares) at Jun. 30, 2018 | 18,165,110 | |||||||
Net income | 4,653 | 4,653 | ||||||
Other comprehensive income (loss) | 479 | 479 | ||||||
Common stock dividends declared | [2] | (1,025) | (1,025) | |||||
Repurchase of common stock | (4,336) | $ (4,336) | ||||||
Repurchase of common stock (in shares) | (222,070) | |||||||
Restricted stock awards granted | $ 5 | (5) | ||||||
Restricted stock awards granted (in shares) | 547,185 | |||||||
Stock-based compensation | 482 | 482 | ||||||
ESOP shares committed to be released | 970 | 481 | 489 | |||||
Ending Balance at Dec. 31, 2018 | 288,782 | $ 187 | 180,003 | 131,993 | (12,594) | (4,336) | (6,471) | |
Ending Balance (in shares) at Dec. 31, 2018 | 18,490,225 | |||||||
Beginning Balance at Sep. 30, 2018 | (6,949) | |||||||
Net income | 2,324 | |||||||
Other comprehensive income (loss) | 478 | 478 | ||||||
Ending Balance at Dec. 31, 2018 | $ 288,782 | $ 187 | $ 180,003 | $ 131,993 | $ (12,594) | $ (4,336) | $ (6,471) | |
Ending Balance (in shares) at Dec. 31, 2018 | 18,490,225 | |||||||
[1] | Represents costs incurred in association with the Company's initial public offering. | |||||||
[2] | Dividends declared were $0.03 and $0.06 per common share for the three and six months ended December 31, 2018, respectively |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Of Stockholders Equity [Abstract] | |||
Common stock dividends declared (per share) | $ 0.03 | $ 0.06 | |
ESOP shares committed to be released (in shares) | 48,838 | 69,906 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
OPERATING ACTIVITIES | ||
Net income | $ 4,653,000 | $ 1,758,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan loss | 64,000 | 335,000 |
Depreciation and amortization | 591,000 | 760,000 |
Amortization of net premiums on securities and net deferred loan origination costs | 744,000 | 941,000 |
Net increase in accrued interest receivable | (99,000) | (308,000) |
Net loss (gain) on sale of foreclosed real estate | (24,000) | 21,000 |
Net gains on sales of securities | (55,000) | (173,000) |
Net gains on sales of real estate | (156,000) | |
Write-downs on other real estate owned | 45,000 | |
Stock-based compensation | 482,000 | |
ESOP Compensation | 970,000 | 1,279,000 |
Earnings from cash surrender value of BOLI | (279,000) | (294,000) |
Net accretion of purchase account adjustments | (188,000) | (361,000) |
Other adjustments, principally net changes in other assets and liabilities | 793,000 | 2,416,000 |
Net cash provided by operating activities | 7,541,000 | 6,374,000 |
Purchases of investment securities: | ||
Held to maturity | (42,226,000) | (27,463,000) |
Available for sale | (15,651,000) | |
Sales of investment securities available for sale | 2,069,000 | 6,100,000 |
Maturities and calls of investment securities: | ||
Held to maturity | 35,346,000 | 43,060,000 |
Available for sale | 10,943,000 | 17,603,000 |
Principal repayments (disbursement), net | (2,429,000) | 17,792,000 |
Purchase of loans | (46,657,000) | |
Net (purchase) redemption of FHLB stock | (335,000) | 737,000 |
Purchases net of sales of bank premises and equipment | (209,000) | (362,000) |
Proceeds from sale of foreclosed real estate | 48,000 | 956,000 |
Net cash provided by (used in) investing activities | 3,207,000 | (3,885,000) |
FINANCING ACTIVITIES | ||
Net increase in deposits | 67,867,000 | 25,881,000 |
Net decrease in short-term FHLB advances | (11,818,000) | |
Proceeds from long-term FHLB advances | 12,500,000 | |
Repayment of long-term FHLB advances | (5,062,000) | (60,000) |
Net increase in mortgage escrow funds | 282,000 | 145,000 |
Common stock dividends paid | (1,025,000) | |
Issuance of common stock | (17,000) | |
Repurchase of common stock | (4,336,000) | |
Net cash used in financing activities | 70,226,000 | 14,131,000 |
Net increase in cash and cash equivalents | 80,974,000 | 16,620,000 |
Cash and cash equivalents: | ||
Cash and cash equivalents at beginning of period | 62,145,000 | 60,486,000 |
Cash and cash equivalents at end of period | 143,119,000 | 77,106,000 |
Cash paid for: | ||
Interest | 4,620,000 | 2,844,000 |
Income taxes | 1,640,000 | $ 2,010,000 |
Loans transferred to foreclosed real estate | $ 181,000 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Dec. 31, 2018 | |
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 commercial 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 NYSDFS. Basis of Presentation The unaudited consolidated financial statements contained herein reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. Such adjustments are the only adjustments reflected in the consolidated financial statements contained herein. The annualized results of operations for the current period presented are not necessarily indicative of the results of operations that may be expected for the entire current fiscal year. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The accompanying unaudited financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended June 30, 2018, included in the Company's annual report on Form 10-K. Certain prior period amounts have been reclassified to conform to the current presentation. Reclassifications had no effect on prior period net income or equity. Use of Estimates |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Dec. 31, 2018 | |
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 a material impact on our financial position, results of operations or disclosures. Accounting Standards Adopted in the Period In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 “Revenue from Contracts with Customers,” and was later amended by ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and 2016-20. These updates provide a comprehensive framework for addressing revenue recognition issues that can be applied to all contracts with customers. The amendments also include improved disclosures to enable users of financial statements to better understand the nature, amount, timing and uncertainty of revenue that is recognized. While the guidance in ASU 2014-09 supersedes most existing industry-specific revenue recognition accounting guidance, much of the Company’s revenue comes from financial instruments such as debt securities and loans that are outside the scope of the guidance. The Company’s material revenue streams that are in the scope of ASU 2014-09 are fees on deposit accounts (including interchange fees) and foreclosed real estate gains and losses. All other revenue streams are immaterial or are in the scope of other GAAP requirements which take precedence and therefore are not in the scope of ASU 2014-09. Based on the Company’s analysis, ASU 2014-09 will not materially change the recognition of revenue on service fees on deposit accounts as the contracts are day to day and recognized as the service is provided. Gains and losses on the sale of foreclosed real estate are generally accounted for under ASC 610. However, ASU 2014-09 also added a new Subtopic 610-20 which addresses the recognition of gains and losses on the transfer of nonfinancial and in-substance nonfinancial assets. Gain and loss recognition is not expected to change except for foreclosed real estate and other nonfinancial asset sales that are financed by the Company. In the case of financed sales, the Company will need to evaluate each contract to determine whether each contract criteria are met, including whether it is probable that it will collect substantially all consideration to which it is entitled. The Company will also need to evaluate whether the financing terms offered to the buyer of the nonfinancial asset are market terms when determining the transaction price. The Company has evaluated the impact of ASU 2014-09 and the amendments upon adoption as of July 1, 2018. In evaluating this standard, management has determined that the majority of revenue earned by the Company is from revenue streams not included in the scope of this standard and for in scope revenue streams management determined that, based on the modified retrospective method, a cumulative-effect adjustment to opening retained earnings as a result of adopting this standard is not needed. Additional disclosures required under ASU 2014-09 are contained in Note 12. In January 2016, the FASB issued ASU 2016-01, an amendment to “Recognition and Measurement of Financial Assets and Financial Liabilities.” 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: (1) require equity securities to be reclassified out of available for sale and 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, (2) simplify the impairment assessment of such equity securities and would require enhanced disclosure about these investments, (3) 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 financial assets measured at amortized cost on the balance sheet, and (4) require the use of an exit price notion when measuring the fair value of financial instruments. The adoption of ASU 2016-01, and subsequent amendments, on July 1, 2018 did not have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-07 “Compensation – Retirement Benefits”. The ASU requires companies that offer employee defined pension plans, other postretirement benefit plans, or other types of benefit plans accounted for under Topic 715 to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. The adoption of ASU 2017-07 resulted in non-service cost credits of $83,000 and $166,000, and $47,000 and $94,000 to be included in other operating expense for the three and six months ended December 31, 2018 and 2017, respectively. Future Application of Accounting Pronouncements Previously Issued 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. The amendments in this update will be effective for the Company for the fiscal year beginning on July 1, 2019, including interim periods within that fiscal year. The Company currently leases eleven branches and two administrative offices. ASU 2016-02 will result in the establishment of a right to use asset and corresponding lease obligation. The impact to the Company’s consolidated financial position has yet to be determined by management, however the ASU is not expected to have a material impact on the Company’s consolidated results of operations or 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. The amendments in this update will be effective for the Company for the fiscal year beginning on July 1, 2020, including interim periods within that fiscal year. Early adoption is permitted beginning after December 15, 2018, including interim periods within those fiscal years. The Company is actively working through the provisions of the Update. Management has established a steering committee which is identifying the methodologies and the additional data requirements necessary to implement the Update and is evaluating the need for a third-party software service provider to assist in the Company's implementation. 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. The amendments in this update will be effective for the Company for the fiscal year beginning on July 1, 2020, including interim periods within that fiscal year. 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
Investment Securities | 6 Months Ended |
Dec. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 3. Investment Securities In association with the adoption of ASU 2016-01, available-for-sale and held-to-maturity debt securities are referred to as investment securities. The amortized cost, gross unrealized/unrecognized gains and losses and fair value of available for sale and held to maturity debt securities at December 31, 2018 and June 30, 2018 were as follows: December 31, 2018 Amortized Gross Unrealized/Unrecognized Fair Cost Gains Losses Value (in thousands) Available for sale: U.S. Government and agency obligations $ 56,376 $ 5 $ (733 ) $ 55,648 Corporate and other debt securities 8,378 - (166 ) 8,212 Mortgage-backed securities – residential 29,576 14 (764 ) 28,826 Total available for sale $ 94,330 $ 19 $ (1,663 ) $ 92,686 Held to maturity: U.S. Government and agency obligations $ 112,545 $ 22 $ (1,696 ) $ 110,871 Corporate and other debt securities 34,037 18 (358 ) 33,697 Mortgage-backed securities – residential 136,582 42 (3,950 ) 132,674 Mortgage-backed securities – collateralized mortgage obligations 47,972 - (1,470 ) 46,502 Mortgage-backed securities – commercial 28,641 22 (706 ) 27,957 Total held to maturity $ 359,777 $ 104 $ (8,180 ) $ 351,701 June 30, 2018 Amortized Gross Unrealized/Unrecognized Fair Cost Gains Losses Value (in thousands) Available for sale: U.S. Government and agency obligations $ 64,389 $ - $ (959 ) $ 63,430 Corporate and other debt securities 8,406 - (171 ) 8,235 Mortgage-backed securities – residential 34,619 81 (893 ) 33,807 Total available for sale $ 107,414 $ 81 $ (2,023 ) $ 105,472 Held to maturity: U.S. Government and agency obligations $ 122,048 $ - $ (2,274 ) $ 119,774 Corporate and other debt securities 4,000 - (126 ) 3,874 Mortgage-backed securities – residential 140,478 32 (4,846 ) 135,664 Mortgage-backed securities – collateralized mortgage obligations 53,547 - (1,815 ) 51,732 Mortgage-backed securities – commercial 33,110 11 (977 ) 32,144 Total held to maturity $ 353,183 $ 43 $ (10,038 ) $ 343,188 During the three and six months ended December 31, 2018, $2.1 million of securities were sold resulting in $55,000 of net realized gains. No securities were sold during the three months ended December 31, 2017. During the six months ended December 31, 2017, $6.6 million of securities were sold resulting in $173,000 of net realized gains. Included in the net realized gain for the six months ended December 31, 2017, was a the disposal of $681,000 of securities classified as held to maturity, resulting in net realized gains of $34,000. These securities were comprised of seasoned mortgage-backed securities where the Company collected a substantial portion (at least 85%) of the principal outstanding at acquisition due to prepayments or scheduled payments payable in equal installments, comprising both principal and interest, over the terms. The following table presents the fair value and carrying amount of debt securities at December 31, 2018, 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) December 31, 2018: 1 year or less $ 26,002 $ 25,792 $ 18,417 $ 18,261 1 to 5 years 91,544 90,080 44,337 43,636 5 to 10 years 25,037 24,989 2,000 1,963 Mortgage-backed securities and other 217,194 210,840 29,576 28,826 Total $ 359,777 $ 351,701 $ 94,330 $ 92,686 Securities pledged had carrying amounts of $124.7 million and $140.5 million at December 31, 2018 and June 30, 2018, 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 December 31, 2018 and June 30, 2018 December 31, 2018 Less than 12 months 12 months or greater 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 $ 7,893 $ (32 ) $ 43,784 $ (701 ) $ 51,677 $ (733 ) Corporate and other debt securities 1,983 (31 ) 6,229 (135 ) 8,212 (166 ) Mortgage-backed securities – residential - - 26,235 (764 ) 26,235 (764 ) Total available for sale $ 9,876 $ (63 ) $ 76,248 $ (1,600 ) $ 86,124 $ (1,663 ) Held to maturity: U.S. Government and agency obligations $ 14,824 $ (169 ) $ 90,026 $ (1,527 ) 104,850 $ (1,696 ) Corporate and other debt securities 4,971 (65 ) 3,708 (293 ) 8,679 (358 ) Mortgage-backed securities – residential 25,472 (440 ) 102,502 (3,510 ) 127,974 (3,950 ) Mortgage-backed securities – collateralized mortgage obligations 2,547 (21 ) 43,955 (1,449 ) 46,502 (1,470 ) Mortgage-backed securities – commercial 8,662 (55 ) 17,545 (651 ) 26,207 (706 ) Total held to maturity $ 56,476 $ (750 ) $ 257,736 $ (7,430 ) $ 314,212 $ (8,180 ) June 30, 2018 Less than 12 months 12 months or greater 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 $ 41,762 $ (569 ) $ 21,668 $ (390 ) $ 63,430 $ (959 ) Corporate and other debt securities 6,258 (148 ) 1,977.00 (23.00 ) 8,235 (171 ) Mortgage-backed securities – residential 13,397 (379 ) 14,718 (514 ) 28,115 (893 ) Total available for sale $ 61,417 $ (1,096 ) $ 38,363 $ (927 ) $ 99,780 $ (2,023 ) Held to maturity U.S. Government and agency obligations $ 46,163 $ (871 ) $ 71,611 $ (1,403 ) $ 117,774 $ (2,274 ) Corporate and other debt securities 3,874 (126 ) - - 3,874 (126 ) Mortgage-backed securities – residential 102,496 (3,338 ) 32,490 (1,508 ) 134,986 (4,846 ) Mortgage-backed securities – collateralized mortgage obligations 31,124 (884 ) 20,608 (931 ) 51,732 (1,815 ) Mortgage-backed securities – commercial 21,762 (582 ) 8,629 (395.00 ) 30,391 (977 ) Total held to maturity $ 205,419 $ (5,801 ) $ 133,338 $ (4,237 ) $ 338,757 $ (10,038 ) As of December 31, 2018, the Company’s security portfolio consisted of $452.5 million in securities, of which 237 securities with a fair value of $400.3 million were in an unrealized loss position. As of June 30, 2018, the Company’s security portfolio consisted of $458.7 million in securities, of which 254 securities with a fair value of $438.5 million were in an unrealized loss There were no securities as of December 31, 2018 or June 30, 2018 for which the Company believes it is not probable that it will collect all amounts due according to the contractual terms of the security. Management believes the unrealized losses are primarily a result of changes in 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 December 31, 2018 or June 30, 2018. |
Loans Receivable
Loans Receivable | 6 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Loans Receivable | Note 4. Loans Receivable Loans receivable are summarized as follows (in thousands): December 31, June 30, 2018 2018 Mortgage loans: Residential $ 248,575 $ 250,578 Commercial 499,930 495,265 Construction 16,023 17,352 Net deferred loan origination costs 842 1,041 Total mortgage loans 765,370 764,236 Commercial and consumer loans: Commercial loans 107,899 104,135 Home equity lines of credit 35,029 37,395 Consumer and overdrafts 321 745 Net deferred loan origination costs 701 729 Total commercial and consumer loans 143,950 143,004 Total loans receivable 909,320 907,240 Allowance for loan losses (4,943 ) (4,904 ) Loans receivable, net $ 904,377 $ 902,336 In 2015, the Company completed a merger with CMS Bancorp and its wholly owned subsidiary, CMS Bank. References to acquired loans in this note pertain only to those loans acquired as part of the merger. The following tables present the activity in the allowance for loan losses by portfolio segment for the three and six months ended December 31, 2018 and 2017 (in thousands): Three Months Ended December 31, 2018 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 359 $ 17 $ - $ 3 $ 379 Commercial 3,130 245 (114 ) - 3,261 Construction 493 (331 ) - 96 258 Commercial loans 825 55 - - 880 Home equity lines of credit 69 13 - - 82 Consumer and overdrafts 10 7 (9 ) 2 10 Acquired: Residential 73 - - - 73 Total $ 4,959 $ 6 $ (123 ) $ 101 $ 4,943 Three Months Ended December 31, 2017 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 407 $ (5 ) $ - $ - $ 402 Commercial 2,709 (23 ) - - 2,686 Construction 1,160 237 (997 ) - 400 Commercial loans 889 (45 ) - - 844 Home equity lines of credit 77 (3 ) - - 74 Consumer and overdrafts - - - - - Acquired: Residential 26 39 - - 65 Total $ 5,268 $ 200 $ (997 ) $ - $ 4,471 Six Months Ended December 31, 2018 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 386 $ (12 ) $ - $ 5 $ 379 Commercial 3,073 302 (114 ) - 3,261 Construction 505 (343 ) - 96 258 Commercial loans 780 100 - - 880 Home equity lines of credit 80 2 - - 82 Consumer and installment loans 7 15 (16 ) 4 10 Acquired: Residential 73 - - - 73 Total $ 4,904 $ 64 $ (130 ) $ 105 $ 4,943 Six Months Ended December 31, 2017 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 360 $ 59 $ (17 ) $ - $ 402 Commercial 2,589 97 - - 2,686 Construction 1,150 247 (997 ) - 400 Commercial loans 949 (105 ) - - 844 Home equity lines of credit 76 (2 ) - - 74 Consumer and installment loans - - - - - Acquired: Residential 26 39 - - 65 Total $ 5,150 $ 335 $ (1,014 ) $ - $ 4,471 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 December 31, 2018 and June 30, 2018 (in thousands): December 31, 2018 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 $ 2,367 $ 244,925 $ 1,283 $ 248,575 $ 123 $ 256 $ 73 $ 452 Commercial 1,413 497,044 1,473 499,930 - 3,261 - 3,261 Construction - 16,023 - 16,023 - 258 - 258 Commercial loans 1,913 105,986 - 107,899 2 878 - 880 Home equity lines of credit 685 34,182 162 35,029 13 69 - 82 Consumer and overdrafts - 321 - 321 - 10 - 10 Total $ 6,378 $ 898,481 $ 2,918 $ 907,777 $ 138 $ 4,732 $ 73 $ 4,943 June 30, 2018 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 $ 2,360 $ 246,913 $ 1,305 $ 250,578 $ 154 $ 232 $ 73 $ 459 Commercial 1,683 492,105 1,477 495,265 - 3,073 - 3,073 Construction 2,260 15,092 - 17,352 276 229 - 505 Commercial loans 2,451 101,684 - 104,135 9 771 - 780 Home equity lines of credit 360 36,867 168 37,395 12 68 - 80 Consumer and overdrafts - 745 - 745 - 7 - 7 Total $ 9,114 $ 893,406 $ 2,950 $ 905,470 $ 451 $ 4,380 $ 73 $ 4,904 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 December 31, 2018 and June 30, 2018 (in thousands): December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses With no related allowance recorded: Residential $ 1,969 $ 1,923 $ - Commercial 1,490 1,413 - Commercial loans 5,164 1,851 - Home equity lines of credit 665 596 - With a related allowance recorded: Residential 384 444 123 Commercial loans 62 62 2 Home equity lines of credit 90 89 13 Total $ 9,824 $ 6,378 $ 138 June 30, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses With no related allowance recorded: Residential $ 1,659 $ 1,576 $ - Commercial 1,765 1,683 - Commercial loans 2,254 2,098 - Home equity lines of credit 341 341 - With a related allowance recorded: Residential 742 784 154 Construction 3,257 2,260 276 Commercial loans 353 353 9 Home equity lines of credit 84 19 12 Total $ 10,455 $ 9,114 $ 451 The table below presents the average recorded investment and interest income recognized on loans individually evaluated for impairment, by class of loans, for the three and six months ended December 31, 2018 and 2017 (in thousands): Three months ended Three months ended December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 1,927 $ 4 $ 3,027 $ 124 Commercial 1,417 13 2,454 27 Commercial loans 2,110 47 3,488 77 Home equity lines of credit 597 1 571 20 With a related allowance recorded: Residential 445 3 778 3 Construction 1,130 - 3,008 - Commercial loans 63 1 1,439 13 Home equity lines of credit 89 - 11 - Total $ 7,778 $ 69 $ 14,776 $ 264 Six Months Ended Six Months Ended December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 1,968 $ 11 $ 3,431 $ 166 Commercial 1,532 26 2,447 54 Construction - - 173 17 Commercial loans 2,226 96 4,002 160 Home equity lines of credit 612 9 593 20 With a related allowance recorded: Residential 446 7 686 7 Construction 1,614 - 3,115 - Commercial loans 63 1 1,448 31 Home equity lines of credit 89 - 11 - Total $ 8,550 $ 150 $ 15,906 $ 455 The following table presents the recorded investment in nonaccrual loans and in loans past due over 90 days and still on accrual status, by class of loans as of December 31, 2018 and June 30, 2018 (in thousands): Loans Past Due Over 90 Days Nonaccrual and Still Accruing December 31, June 30, December 31, June 30, 2018 2018 2018 2018 Originated: Residential $ 635 $ 604 $ - $ - Commercial - 262 - - Construction - 2,260 - - Commercial loans 278 788 158 - Home equity lines of credit 374 45 - - Consumer and overdrafts - - - Acquired: Residential 1,288 1,308 - - Commercial 543 532 - - Home equity lines of credit 299 303 - - Total $ 3,417 $ 6,102 $ 158 $ - 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 past due over 90 days that are accounted for as purchased credit impaired loans totaling $1.1 million as of both December 31, 2018 and June 30, 2018. 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 December 31, 2018 and June 30, 2018 (in thousands): December 31, 2018 30-59 60-89 90 Days or Days Past Days Past More Past Total Past Due Due Due Due Current Total Originated: Residential $ 24 $ - $ 553 $ 577 $ 197,263 $ 197,840 Commercial - - - - 436,430 436,430 Construction - - - - 16,023 16,023 Commercial loans - - 159 159 107,546 107,705 Home equity lines of credit 18 297 - 315 30,424 30,739 Consumer and overdrafts - - - - 321 321 Total originated 42 297 712 1,051 788,007 789,058 Acquired: Residential 116 - 1,488 1,604 49,131 50,735 Commercial - - 1,122 1,122 62,378 63,500 Commercial loans - - - - 194 194 Home equity lines of credit 70 - 296 366 3,924 4,290 Total acquired 186 - 2,906 3,092 115,627 118,719 Total $ 228 $ 297 $ 3,618 $ 4,143 $ 903,634 $ 907,777 June 30, 2018 30-59 60-89 90 Days or Days Past Days Past More Past Total Past Due Due Due Due Current Total Originated: Residential $ - $ 394 $ 210 $ 604 $ 194,986 $ 195,590 Commercial - - 262 262 420,320 420,582 Construction - - 2,260 2,260 15,092 17,352 Commercial loans - - 500 500 102,767 103,267 Home equity lines of credit - - 45 45 32,311 32,356 Consumer and overdrafts - - - - 733 733 Total originated - 394 3,277 3,671 766,209 769,880 Acquired: Residential - 232 1,806 2,038 52,950 54,988 Commercial - - 1,112 1,112 73,571 74,683 Commercial loans - - - - 868 868 Home equity lines of credit 30 - 296 326 4,713 5,039 Consumer and overdrafts - - - - 12 12 Total acquired 30 232 3,214 3,476 132,114 135,590 Total $ 30 $ 626 $ 6,491 $ 7,147 $ 898,323 $ 905,470 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 December 31, 2018 and June 30, 2018, the Company had 13 and 12 loans classified as troubled debt restructurings totaling $4.0 million and $3.8 million, respectively. The Company has allocated $130,000 and $139,000, respectively, of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of December 31, 2018 and June 30, 2018 and has not committed to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings. The Company modified two loans with a total carrying amount of $428,000, one residential mortgage and one home equity line of credit, in troubled debt restructurings during the six months ended December 31, 2018. The Company did not modify any loans as troubled debt restructuring during the three months ended December 31, 2018 or during the three or six months ended December 31, 2017. The Company had no troubled debt restructurings for which there was a payment default in the three or six months ended December 31, 2018 that were modified in the twelve months prior to default. There were two troubled debt restructuring with a total carrying amount of $1.1 million at December 31, 2017 for which there was a payment default in the six months ended December 31, 2017 and resulted in $66,000 increase to the allowance for loan losses. One default with a carrying amount of $823,000, has been cured as of December 31, 2017. There were no such defaults during the three months ended December 31, 2017. 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): December 31, 2018 Pass Special Mention Substandard Doubtful Total Originated: Residential $ 196,542 $ 553 $ 745 $ - $ 197,840 Commercial 436,290 - 140 - 436,430 Construction 16,023 - - - 16,023 Commercial loans 103,489 158 4,058 - 107,705 Home equity lines of credit 30,200 165 374 - 30,739 Consumer and overdrafts 321 - - - 321 Total originated 782,865 876 5,317 - 789,058 Acquired: Residential 47,934 358 2,443 - 50,735 Commercial 60,653 831 2,016 - 63,500 Commercial loans 188 6 - - 194 Home equity lines of credit 3,828 71 391 - 4,290 Total acquired 112,603 1,266 4,850 - 118,719 Total $ 895,468 $ 2,142 $ 10,167 $ - $ 907,777 June 30, 2018 Pass Special Mention Substandard Doubtful Total Originated: Residential $ 194,341 $ 571 $ 678 $ - $ 195,590 Commercial 418,370 - 2,212 - 420,582 Construction 15,092 - 2,260 - 17,352 Commercial loans 98,205 167 4,895 - 103,267 Home equity lines of credit 32,167 144 45 - 32,356 Consumer and overdrafts 733 - - 733 Total originated 758,908 882 10,090 - 769,880 Acquired: Residential 51,858 249 2,881 - 54,988 Commercial 71,832 842 2,009 - 74,683 Commercial loans 857 11 - - 868 Home equity lines of credit 4,641 - 398 - 5,039 Consumer and overdrafts 12 - - - 12 Total acquired 129,200 1,102 5,288 - 135,590 Total $ 888,108 $ 1,984 $ 15,378 $ - $ 905,470 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 December 31, 2018 and June 30, 2018 is as follows (in thousands): December 31, June 30, 2018 2018 Residential $ 1,210 $ 1,232 Commercial 1,473 1,477 Home equity lines of credit 162 168 Carrying amount, net of allowance of $73 and $73, respectively $ 2,845 $ 2,877 The allowance for loan losses on purchased credit impaired loans was unchanged during the three and six months ended December 31, 2018. Accretable yield, or income expected to be collected, for acquired loans is as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Beginning balance $ 232 $ 532 $ 245 $ 578 New loans acquired - - - - Accretion income (13 ) (46 ) (26 ) (92 ) Reclassification from non-accretable difference - - - - Disposals - - - - Ending balance $ 219 $ 486 $ 219 $ 486 |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 6 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | Note 5. 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 October 1, 2018 $ (1,657 ) $ (5,035 ) $ (257 ) $ (6,949 ) Other comprehensive income before reclassifications 506 - - 506 Amounts reclassified from accumulated other comprehensive income (55 ) 145 9 99 Less tax effect (94 ) (31 ) (2 ) (127 ) Net other comprehensive income 357 114 7 478 Balance at December 31, 2018 $ (1,300 ) $ (4,921 ) $ (250 ) $ (6,471 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at October 1, 2017 $ (195 ) $ (4,883 ) $ (244 ) $ (5,322 ) Other comprehensive loss before reclassifications (717 ) - - (717 ) Amounts reclassified from accumulated other comprehensive income - 181 8 189 Less tax effect 243 (61 ) (2 ) 180 Net other comprehensive (loss) income (474 ) 120 6 (348 ) Balance at December 31, 2017 $ (669 ) $ (4,763 ) $ (238 ) $ (5,670 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2018 $ (1,536 ) $ (5,150 ) $ (264 ) $ (6,950 ) Other comprehensive income before reclassifications 353 - - 353 Amounts reclassified from accumulated other comprehensive income (55 ) 290 18 253 Tax effect (62 ) (61 ) (4 ) (127 ) Net other comprehensive income 236 229 14 479 Balance at December 31, 2018 $ (1,300 ) $ (4,921 ) $ (250 ) $ (6,471 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2017 $ 37 $ (5,002 ) $ (250 ) $ (5,215 ) Other comprehensive loss before reclassifications (930 ) - - (930 ) Amounts reclassified from accumulated other comprehensive income (139 ) 362 16 239 Tax effect 363 (123 ) (4 ) 236 Net other comprehensive (loss) income (706 ) 239 12 (455 ) Balance at December 31, 2017 $ (669 ) $ (4,763 ) $ (238 ) $ (5,670 ) |
Post-Retirement Benefits
Post-Retirement Benefits | 6 Months Ended |
Dec. 31, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Post-Retirement Benefits | Note 6 . Post-Retirement Benefits Employee Pension Plan Supplemental Retirement Plans Net periodic benefit cost and other amounts recognized in other comprehensive income for the three and six months ended December 31, 2018 and 2017 (in thousands): Three Months Ended Three Months Ended December 31, 2018 December 31, 2017 Defined Benefit Plan Supplemental Retirement Plans Defined Benefit Plan Supplemental Retirement Plans Service cost $ - $ 147 $ - $ 107 Interest cost 250 26 242 25 Expected return on plan assets (513 ) - (503 ) - Amortization of prior net loss 145 9 - - Amortization of prior service cost - - 181 8 Net periodic (benefit) cost $ (118 ) $ 182 $ (80 ) $ 140 Six Months Ended Six Months Ended December 31, 2018 December 31, 2017 Defined Benefit Plan Supplemental Retirement Plan Defined Benefit Plan Supplemental Retirement Plan Service cost $ - $ 295 $ - $ 220 Interest cost 500 52 484 50 Expected return on plan assets (1,026 ) - (1,006 ) - Amortization of prior net loss 290 18 - 0 Amortization of prior service cost - - 362 16 Net periodic (benefit) cost $ (236 ) $ 365 $ (160 ) $ 286 The Company made no contributions to the defined benefit plan during the three and six months ended December 31, 2018 and expects to make no contributions to the plan for the year ending June 30, 2019. 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. On April 20, 2017 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 (4.5% at December 31, 2018). 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 December 31, 2018 was $12.6 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 (dollars in thousands): December 31, 2018 June 30, 2018 Allocated to participants 193,762 144,923 Unearned 1,259,447 1,308,286 Total ESOP shares 1,453,209 1,453,209 Fair value of unearned shares $ 24,635 $ 25,996 Total compensation expense recognized in connection with the ESOP for the three and six or the three and six |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 7. 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. Derivatives Assets and liabilities measured at fair value are summarized below (in thousands): Fair Value Measurements Level 1 Level 2 Level 3 Total December 31, 2018 Measured on a recurring basis: Available for sale securities: U.S. Government and agency obligations $ - $ 55,648 $ - $ 55,648 Corporate and other debt securities - 8,212 - 8,212 Mortgage-backed securities – residential - 28,826 - 28,826 Derivatives – interest rate contracts - 343 - 343 Total assets at fair value $ - $ 93,029 $ - $ 93,029 Derivatives – interest rate contracts $ - $ 343 $ - $ 343 Total liabilities at fair value $ - $ 343 $ - $ 343 Measured on a non-recurring basis: Impaired loans: Residential mortgages $ - $ - $ 526 $ 526 Commercial loans - - 62 62 Home equity lines of credit - - 88 88 Foreclosed real estate - - 572 572 Total assets at fair value $ - $ - $ 1,248 $ 1,248 Fair Value Measurements Level 1 Level 2 Level 3 Total June 30, 2018 Measured on a recurring basis: Available for sale securities: U.S. Government and agency obligations $ - $ 63,430 $ - $ 63,430 Corporate and other debt securities - 8,235 - 8,235 Mortgage-backed securities – residential - 33,807 - 33,807 Total assets at fair value $ - $ 105,472 $ - $ 105,472 Measured on a non-recurring basis: Impaired loans: Residential mortgages $ - $ - $ 688 $ 688 Construction - - 1,984 1,984 Commercial loans - - 845 845 Home equity lines of credit - - 7 7 Foreclosed real estate - - 460 460 Total assets at fair value $ - $ - $ 3,984 $ 3,984 There were no transfers between levels within the fair value hierarchy during the three and six months ended December 31, 2018 and 2017. Impaired loans in the preceding table had a carrying amount of $676,000, and a remaining valuation allowance of $131,000 at December 31, 2018, as compared to $3.9 million and $451,000, respectively, as of June 30, 2018. Impaired loans measured at fair value incurred no net charge-offs and resulted in an additional credit for loan losses of $7,000 during the six months ended December 31, 2018. Impaired loans measured at fair value as of December 31, 2017 incurred $997,000 of net charge-offs and resulted in an additional provision for loan losses of $405,000 during the six months ended December 31, 2017. 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 December 31, 2018 and June 30, 2018 (dollars in thousands): Valuation Unobservable Range or Fair Value Technique(s) Input(s) Rate Used December 31, 2018: Impaired loans - residential mortgages $ 526 Discounted cash flow Discount rate 5.4% to 6.3% Sales contract Discount to sales contract -24.3% to -10.3% Impaired loans - commercial loans 62 Discounted cash flow Discount rate 7.0% to 7.5% Impaired loans - home equity lines of credit 88 Discounted cash flow Discount rate 6.3% Sales contract Discount to sales contract -24.3% to -10.3% Foreclosed real estate 572 Sales comparison Adjustments for differences in sales comparables -25.0% to 45.0% June 30, 2018: Impaired loans - residential mortgages $ 688 Sales comparison Adjustments for differences in sales comparables -5.1% to 20.9% Discounted cash flow Discount rate 5.4% to 6.3% Impaired loans - construction 1,984 Sales contract Discount to sales contract 9.8% Impaired loans - commercial loans 845 Discounted cash flow Discount rate 5.3% to 7.5% Sales contract Discount to sales contract 9.8% Impaired loans - home equity lines of credit 7 Sales comparison Adjustments for differences in sales comparables -5.1% to 20.9% Discounted cash flow Discount rate 6.3% Foreclosed real estate 460 Sales comparison Adjustments for differences in sales comparables -8.1% to -0.4% 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 December 31, 2018: Financial assets: Cash and cash equivalents $ 143,119 $ 143,119 $ - $ - $ 143,119 Investment securities held to maturity 359,777 - 351,701 - 351,701 Investment securities available for sale 92,686 - 92,686 - 92,686 Loans receivable, net 904,377 - - 884,574 884,574 Accrued interest receivable 4,457 - 1,366 3,091 4,457 Federal Home Loan Bank stock 2,385 N/A N/A N/A N/A Derivative assets - interest rate contracts 343 - 343 - 343 Financial liabilities: Demand, NOW, money market deposits and savings accounts 803,970 803,970 - - 803,970 Time deposits 421,354 - 424,037 - 424,037 Mortgage escrow funds 9,085 9,085 - - 9,085 FHLB advances 26,279 - 26,299 - 26,299 Derivative liabilities - interest rate contracts 343 - 343 - 343 June 30, 2018: Financial assets: Cash and cash equivalents $ 62,145 $ 62,145 $ - $ - $ 62,145 Investment securities held to maturity 353,183 - 343,188 - 343,188 Investment securities available for sale 105,472 - 105,472 - 105,472 Loans receivable, net 902,336 - - 882,319 882,319 Accrued interest receivable 4,358 - 1,402 2,956 4,358 Federal Home Loan Bank stock 2,050 N/A N/A N/A N/A Financial liabilities: Demand, NOW, money market deposits and savings accounts 765,084 765,084 - - 765,084 Time deposits 392,373 - 394,205 - 394,205 Mortgage escrow funds 8,803 8,803 - - 8,803 FHLB advances 18,841 - 20,574 - 20,574 In connection with the adoption of ASU 2016-01 on July 1, 2018, we refined our methodology to estimate the fair value of our loan portfolio using an exit price notion resulting in prior periods no longer being comparable. The exit price notion requires determination of the price at which willing market participants would transact at the measurement date under current market conditions depending on facts and circumstances, such as origination rates, credit risk, transaction costs, liquidity, national and regional market trends and other adjustments, utilizing publicly available rates and indices. The application of an exit price notion requires the use of significant judgment. The prior period estimate of loans receivable, net was determined using an entrance price methodology based only on the discounted value of contracted cash flows based on prevailing interest rates. |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Dec. 31, 2018 | |
Banking And Thrift [Abstract] | |
Regulatory Capital | Note 8. Regulatory Capital The following is a summary of the Company’s and Bank’s actual capital amounts and ratios as of December 31, 2018 and June 30, 2018, compared to the required ratios for minimum capital adequacy and for classification as well capitalized (dollars in thousands): To Be Well Capitalized Under Prompt For Capital Adequacy Corrective Action Bank Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2018: PCSB Bank Leverage (Tier 1) $ 205,731 13.8 % $ 59,702 4.0 % $ 74,628 5.0 % Risk-based: Common Tier 1 205,731 20.7 44,406 4.5 64,141 6.5 Tier 1 205,731 20.7 59,208 6.0 78,943 8.0 Total 210,674 21.2 78,973 8.0 98,679 10.0 PCSB Financial Corporation Leverage (Tier 1) N/A N/A N/A N/A N/A N/A Risk-based: Common Tier 1 N/A N/A N/A N/A N/A N/A Tier 1 N/A N/A N/A N/A N/A N/A Total N/A N/A N/A N/A N/A N/A June 30, 2018: PCSB Bank Leverage (Tier 1) $ 200,488 13.6 % $ 58,924 4.0 % $ 73,655 5.0 % Risk-based: Common Tier 1 200,488 21.1 42,745 4.5 61,743 6.5 Tier 1 200,488 21.1 56,994 6.0 75,991 8.0 Total 205,392 21.6 75,991 8.0 94,989 10.0 PCSB Financial Corporation Leverage (Tier 1) $ 287,991 19.5 % $ 58,948 4.0 % N/A N/A Risk-based: Common Tier 1 287,991 30.3 42,783 4.5 N/A N/A Tier 1 287,991 30.3 57,044 6.0 N/A N/A Total 292,895 30.8 76,058 8.0 N/A N/A In addition to the ratios above, the Basel III Capital Rules have 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 was phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reached 2.5% on January 1, 2019). Management believes that as of December 31, 2018 and June 30, 2018, the Bank met all capital adequacy requirements to which it was subject, including the capital conservation buffer of 1.875% and 1.250% as of December 31, 2018 and June 30, 2018, respectively. 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. As a result of recent regulatory reform, the Company is no longer subject to consolidated capital requirements, as the Company’s total consolidated assets do not exceed $3 billion, and thus the consolidated capital ratios are no longer required to be disclosed in the financial statements. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 9. Earnings Per Share Basic EPS is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated in a similar manner, except that the denominator includes the number of additional common shares that would have been outstanding if potentially dilutive common shares were issued using the treasury stock method. The following table provides factors used in the earnings per share computation for the three and six months ended December 31, 2018 and 2017. Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 (dollars in thousands, except share and per share data) Net income applicable to common stock $ 2,324 $ 2 $ 4,653 $ 1,758 Average number of common shares outstanding 18,124,242 18,165,110 18,144,676 18,165,110 Less: Average unallocated ESOP shares (1,271,524 ) (1,373,805 ) (1,283,734 ) (1,391,227 ) Average number of common shares outstanding used to calculate basic earnings per common share 16,852,718 16,791,305 16,860,942 16,773,883 Effect of equity-based awards 15,746 - 7,873 - Average number of common shares outstanding used to calculate diluted earnings per common share 16,868,464 16,791,305 16,868,815 16,773,883 Earnings per common share: Basic $ 0.14 $ - $ 0.28 $ 0.10 Diluted $ 0.14 $ - $ 0.28 $ 0.10 Stock options for 1,339,293 shares of common stock were not considered in computing diluted earnings per common share for both the three and six months ended December 31, 2018 because they were antidilutive. There were no potentially dilutive common stock equivalents during the three or six months ended December 31, 2017. |
Derivatives and Hedging
Derivatives and Hedging | 6 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging | Note 10. Derivatives and Hedging Derivatives not designated as hedges may be used to manage the Company’s exposure to interest rate movements or to provide service to customers. The Company executes interest rate swaps with commercial lending customers to facilitate their respective risk management strategies. These interest rate swaps with customers are simultaneously offset by interest rate swaps that the Company executes with a third party in order to minimize the net risk exposure resulting from such transactions. These interest rate swap agreements do not qualify for hedge accounting treatment, and therefore changes in fair value are reported in current period earnings. The Company had no interest rate swaps at June 30, 2018. The following table presents summary information about the interest rate swaps as of December 31, 2018: December 31, (dollars in thousands) 2018 Notional amounts $ 16,648 Weighted average pay rates 4.40 % Weighted average receive rates 4.40 % Weighted average maturity 9.83 years Fair value of combined interest rate swaps $ - |
Revenue From Contracts With Cus
Revenue From Contracts With Customers | 6 Months Ended |
Dec. 31, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Revenue From Contracts With Customers | Note 11. Revenue From Contracts With Customers The Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In accordance with ASU 2014-09, revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these services. The Company applies the following five steps to properly recognize revenue: 1. Identify the contract with a customer 2. Identify the performance obligations in the contract 3. Determine the transaction price 4. Allocate the transaction price to performance obligations in the contract 5. Recognize revenue when (or as) the Company satisfies a performance obligation The Company’s in-scope revenue streams that are subject to the accounting standard are: (1) fees and service charges on deposit accounts (including interchange fees), which, are included on the Consolidated Statements of Operations as “Fees and service charges” and (2) gains on the sale of foreclosed real estate. For the three and six months ended December 31, 2018 fees and services charges totaled $457,000 and $875,000, of which and $424,000 and $816,000, respectively, were in-scope revenue streams. For the three and six months ended December 31, 2017 fees and services charges totaled $412,000 and $793,000, of which $309,000 and $600,000, respectively, were in-scope revenue streams. Fees and Service Charges on Deposit Accounts . The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payments, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of the month, representing the period over which the Company satisfied the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. For the three and six months ended December 31, 2018 fees and service charges on deposit accounts were $310,000 and $597,000, and for the three and six months ended December 31, 2017 fees and service charges on deposit accounts were $211,000 and $407,000, respectively. Interchange Income . The Company earns interchange fees from debit cardholder transactions conducted through various payment networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. For the three and six months ended December 31, 2018 interchange income was $114,000 and $219,000, and for the three and six months ended December 31, 2017 interchange income was $98,000 and $193,000, respectively. Gain/Losses on Sales of Foreclosed Real Estate . The Company records a gain or loss from the sale of foreclosed real estate when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of foreclosed real estate to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the foreclosed real estate asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain (loss) on sale if a significant financing component is present. The Company recorded $24,000 and $14,000 gains on sale of foreclosed real estate for the three and six months ended December 31, 2018 or 2017, respectively. |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Share-Based Compensation | Note 12. Stock-Based Compensation On October 24, 2018, the Company’s shareholders approved the PCSB Financial Corporation 2018 Equity Incentive Plan (the “Plan”), which permits the grant of stock options and restricted stock and/or restricted stock units. The total number of shares that may be granted under the Plan is 2,543,115, of which 1,816,511 shares may be granted as stock options and 726,604 shares may be granted as restricted stock and restricted stock units. Concurrent with the approval of the Plan, on October 24, 2018, 431,039 stock options and 183,884 restricted stock awards (“RSAs”) were granted to non-employee directors. Additionally, on November 14, 2018 the Board of Directors approved employee grants of 908,254 stock options and 363,301 RSAs. All grants of stock options and RSAs have a 5-year vesting period. Total compensation cost that has been charged against income for the Plan was $482,000 for the three and six months ended December 31, 2018. Restricted Stock Awards RSAs provide for the issuance of shares to both employees and non-employee directors. These awards generally vest over a 5-year period, with 20% vesting each year on the anniversary of the award, however may not vest more rapidly than over a three-year period. All awards were made at the fair value of common stock on the grant date. Compensation expense is recognized over the vesting period of the awards based on the fair value of the stock at grant date. The fair value of the stock was determined to be the closing price of the stock on the NASDAQ exchange. Total shares available for grant under the Plan are 726,604, of which 547,185 shares were issued as of December 31, 2018. The following table presents a summary of RSA activity during the period ended December 31, 2018. Number of Shares Weighted-Average Grant Date Fair Value Unvested allocated shares outstanding at July 1, 2018 - $ - Shares granted 547,185 19.02 Shares vested - - Shares forfeited - - Unvested allocated shares at December 31, 2018 547,185 $ 19.02 As of December 31, 2018, there was $9.8 million of total unrecognized compensation cost related to nonvested shares granted under the Plan. The cost is expected to be recognized over a weighted-average period of 4.9 years. Stock Option Awards Stock options awarded to employees under the Plan are considered incentive stock options (ISOs), up to applicable limits. Option awards are generally granted with an exercise price equal to the market price of the Company’s common stock at the date of grant. Those issued to non-employee directors, as well as those exceeding ISO limitations, are considered non-qualified stock options (NQSOs). Options generally vest over a 5-year period, with 20% vesting each year on the anniversary of the award, however may not vest more rapidly than over a three-year period, and have a contractual term of 10 years. The Company has a policy of using shares held as a treasury stock to satisfy share option exercises. Currently, the Company has a sufficient number of treasury shares to satisfy the current level of exercisable share options. The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the following table. Expected volatilities are based on the historical volatilities of a peer group of publicly-traded financial institutions. The expected term of options granted is based on the simplified “mid-point” approach which utilizes the weighted average vesting period and contractual term. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The fair value of options granted during the current year was determined using the following weighted-average assumptions as of grant date. Risk-free interest rate 3.03 % Expected term 6.50 Expected stock price volatility 18.26 % Dividend yield 0.63 % Weighted average fair value of options granted $ 4.61 As of December 31, 2018, there was $6.0 million of total unrecognized compensation cost related to non-vested stock options granted under the Plan. The cost is expected to be recognized over a weighted-average period of 4.9 years. The following table presents a summary of activity related to stock options granted under the Stock Plans, and changes during the period then ended: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Years Aggregate Intrinsic Value (dollars in thousands, except share and per share data) Options outstanding at July 1, 2018 - $ - $ - Options granted 1,339,293 19.04 Options expired - - Options exercised - - Options outstanding at December 31, 2018 1,339,293 $ 19.04 9.9 $ 701 Fully vested and expected to vest 1,339,293 $ 19.04 9.9 $ 701 Exercisable at December 31, 2018 - $ - $ - |
Subsequent Events
Subsequent Events | 6 Months Ended |
Dec. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 13. Subsequent Events Subsequent to December 31, 2018, the Company repurchased 686,186 shares of common stock, at an average cost of $20.36 per share, resulting in a total of 908,256 shares repurchased, at an average cost of $20.15, which completes the Company’s current stock repurchase plan. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Dec. 31, 2018 | |
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 commercial 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 NYSDFS. |
Basis of Presentation | Basis of Presentation The unaudited consolidated financial statements contained herein reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. Such adjustments are the only adjustments reflected in the consolidated financial statements contained herein. The annualized results of operations for the current period presented are not necessarily indicative of the results of operations that may be expected for the entire current fiscal year. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. The accompanying unaudited financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended June 30, 2018, included in the Company's annual report on Form 10-K. Certain prior period amounts have been reclassified to conform to the current presentation. Reclassifications had no effect on prior period net income or equity. |
Use of Estimates | Use of Estimates |
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 a material impact on our financial position, results of operations or disclosures. Accounting Standards Adopted in the Period In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 “Revenue from Contracts with Customers,” and was later amended by ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and 2016-20. These updates provide a comprehensive framework for addressing revenue recognition issues that can be applied to all contracts with customers. The amendments also include improved disclosures to enable users of financial statements to better understand the nature, amount, timing and uncertainty of revenue that is recognized. While the guidance in ASU 2014-09 supersedes most existing industry-specific revenue recognition accounting guidance, much of the Company’s revenue comes from financial instruments such as debt securities and loans that are outside the scope of the guidance. The Company’s material revenue streams that are in the scope of ASU 2014-09 are fees on deposit accounts (including interchange fees) and foreclosed real estate gains and losses. All other revenue streams are immaterial or are in the scope of other GAAP requirements which take precedence and therefore are not in the scope of ASU 2014-09. Based on the Company’s analysis, ASU 2014-09 will not materially change the recognition of revenue on service fees on deposit accounts as the contracts are day to day and recognized as the service is provided. Gains and losses on the sale of foreclosed real estate are generally accounted for under ASC 610. However, ASU 2014-09 also added a new Subtopic 610-20 which addresses the recognition of gains and losses on the transfer of nonfinancial and in-substance nonfinancial assets. Gain and loss recognition is not expected to change except for foreclosed real estate and other nonfinancial asset sales that are financed by the Company. In the case of financed sales, the Company will need to evaluate each contract to determine whether each contract criteria are met, including whether it is probable that it will collect substantially all consideration to which it is entitled. The Company will also need to evaluate whether the financing terms offered to the buyer of the nonfinancial asset are market terms when determining the transaction price. The Company has evaluated the impact of ASU 2014-09 and the amendments upon adoption as of July 1, 2018. In evaluating this standard, management has determined that the majority of revenue earned by the Company is from revenue streams not included in the scope of this standard and for in scope revenue streams management determined that, based on the modified retrospective method, a cumulative-effect adjustment to opening retained earnings as a result of adopting this standard is not needed. Additional disclosures required under ASU 2014-09 are contained in Note 12. In January 2016, the FASB issued ASU 2016-01, an amendment to “Recognition and Measurement of Financial Assets and Financial Liabilities.” 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: (1) require equity securities to be reclassified out of available for sale and 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, (2) simplify the impairment assessment of such equity securities and would require enhanced disclosure about these investments, (3) 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 financial assets measured at amortized cost on the balance sheet, and (4) require the use of an exit price notion when measuring the fair value of financial instruments. The adoption of ASU 2016-01, and subsequent amendments, on July 1, 2018 did not have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-07 “Compensation – Retirement Benefits”. The ASU requires companies that offer employee defined pension plans, other postretirement benefit plans, or other types of benefit plans accounted for under Topic 715 to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. The adoption of ASU 2017-07 resulted in non-service cost credits of $83,000 and $166,000, and $47,000 and $94,000 to be included in other operating expense for the three and six months ended December 31, 2018 and 2017, respectively. Future Application of Accounting Pronouncements Previously Issued 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. The amendments in this update will be effective for the Company for the fiscal year beginning on July 1, 2019, including interim periods within that fiscal year. The Company currently leases eleven branches and two administrative offices. ASU 2016-02 will result in the establishment of a right to use asset and corresponding lease obligation. The impact to the Company’s consolidated financial position has yet to be determined by management, however the ASU is not expected to have a material impact on the Company’s consolidated results of operations or 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. The amendments in this update will be effective for the Company for the fiscal year beginning on July 1, 2020, including interim periods within that fiscal year. Early adoption is permitted beginning after December 15, 2018, including interim periods within those fiscal years. The Company is actively working through the provisions of the Update. Management has established a steering committee which is identifying the methodologies and the additional data requirements necessary to implement the Update and is evaluating the need for a third-party software service provider to assist in the Company's implementation. 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. The amendments in this update will be effective for the Company for the fiscal year beginning on July 1, 2020, including interim periods within that fiscal year. 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) | 6 Months Ended |
Dec. 31, 2018 | |
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 Debt Securities | The amortized cost, gross unrealized/unrecognized gains and losses and fair value of available for sale and held to maturity debt securities at December 31, 2018 and June 30, 2018 were as follows: December 31, 2018 Amortized Gross Unrealized/Unrecognized Fair Cost Gains Losses Value (in thousands) Available for sale: U.S. Government and agency obligations $ 56,376 $ 5 $ (733 ) $ 55,648 Corporate and other debt securities 8,378 - (166 ) 8,212 Mortgage-backed securities – residential 29,576 14 (764 ) 28,826 Total available for sale $ 94,330 $ 19 $ (1,663 ) $ 92,686 Held to maturity: U.S. Government and agency obligations $ 112,545 $ 22 $ (1,696 ) $ 110,871 Corporate and other debt securities 34,037 18 (358 ) 33,697 Mortgage-backed securities – residential 136,582 42 (3,950 ) 132,674 Mortgage-backed securities – collateralized mortgage obligations 47,972 - (1,470 ) 46,502 Mortgage-backed securities – commercial 28,641 22 (706 ) 27,957 Total held to maturity $ 359,777 $ 104 $ (8,180 ) $ 351,701 June 30, 2018 Amortized Gross Unrealized/Unrecognized Fair Cost Gains Losses Value (in thousands) Available for sale: U.S. Government and agency obligations $ 64,389 $ - $ (959 ) $ 63,430 Corporate and other debt securities 8,406 - (171 ) 8,235 Mortgage-backed securities – residential 34,619 81 (893 ) 33,807 Total available for sale $ 107,414 $ 81 $ (2,023 ) $ 105,472 Held to maturity: U.S. Government and agency obligations $ 122,048 $ - $ (2,274 ) $ 119,774 Corporate and other debt securities 4,000 - (126 ) 3,874 Mortgage-backed securities – residential 140,478 32 (4,846 ) 135,664 Mortgage-backed securities – collateralized mortgage obligations 53,547 - (1,815 ) 51,732 Mortgage-backed securities – commercial 33,110 11 (977 ) 32,144 Total held to maturity $ 353,183 $ 43 $ (10,038 ) $ 343,188 |
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 December 31, 2018, 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) December 31, 2018: 1 year or less $ 26,002 $ 25,792 $ 18,417 $ 18,261 1 to 5 years 91,544 90,080 44,337 43,636 5 to 10 years 25,037 24,989 2,000 1,963 Mortgage-backed securities and other 217,194 210,840 29,576 28,826 Total $ 359,777 $ 351,701 $ 94,330 $ 92,686 |
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 December 31, 2018 and June 30, 2018 December 31, 2018 Less than 12 months 12 months or greater 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 $ 7,893 $ (32 ) $ 43,784 $ (701 ) $ 51,677 $ (733 ) Corporate and other debt securities 1,983 (31 ) 6,229 (135 ) 8,212 (166 ) Mortgage-backed securities – residential - - 26,235 (764 ) 26,235 (764 ) Total available for sale $ 9,876 $ (63 ) $ 76,248 $ (1,600 ) $ 86,124 $ (1,663 ) Held to maturity: U.S. Government and agency obligations $ 14,824 $ (169 ) $ 90,026 $ (1,527 ) 104,850 $ (1,696 ) Corporate and other debt securities 4,971 (65 ) 3,708 (293 ) 8,679 (358 ) Mortgage-backed securities – residential 25,472 (440 ) 102,502 (3,510 ) 127,974 (3,950 ) Mortgage-backed securities – collateralized mortgage obligations 2,547 (21 ) 43,955 (1,449 ) 46,502 (1,470 ) Mortgage-backed securities – commercial 8,662 (55 ) 17,545 (651 ) 26,207 (706 ) Total held to maturity $ 56,476 $ (750 ) $ 257,736 $ (7,430 ) $ 314,212 $ (8,180 ) June 30, 2018 Less than 12 months 12 months or greater 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 $ 41,762 $ (569 ) $ 21,668 $ (390 ) $ 63,430 $ (959 ) Corporate and other debt securities 6,258 (148 ) 1,977.00 (23.00 ) 8,235 (171 ) Mortgage-backed securities – residential 13,397 (379 ) 14,718 (514 ) 28,115 (893 ) Total available for sale $ 61,417 $ (1,096 ) $ 38,363 $ (927 ) $ 99,780 $ (2,023 ) Held to maturity U.S. Government and agency obligations $ 46,163 $ (871 ) $ 71,611 $ (1,403 ) $ 117,774 $ (2,274 ) Corporate and other debt securities 3,874 (126 ) - - 3,874 (126 ) Mortgage-backed securities – residential 102,496 (3,338 ) 32,490 (1,508 ) 134,986 (4,846 ) Mortgage-backed securities – collateralized mortgage obligations 31,124 (884 ) 20,608 (931 ) 51,732 (1,815 ) Mortgage-backed securities – commercial 21,762 (582 ) 8,629 (395.00 ) 30,391 (977 ) Total held to maturity $ 205,419 $ (5,801 ) $ 133,338 $ (4,237 ) $ 338,757 $ (10,038 ) |
Loans Receivable (Tables)
Loans Receivable (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Summary of Loans Receivable | Loans receivable are summarized as follows (in thousands): December 31, June 30, 2018 2018 Mortgage loans: Residential $ 248,575 $ 250,578 Commercial 499,930 495,265 Construction 16,023 17,352 Net deferred loan origination costs 842 1,041 Total mortgage loans 765,370 764,236 Commercial and consumer loans: Commercial loans 107,899 104,135 Home equity lines of credit 35,029 37,395 Consumer and overdrafts 321 745 Net deferred loan origination costs 701 729 Total commercial and consumer loans 143,950 143,004 Total loans receivable 909,320 907,240 Allowance for loan losses (4,943 ) (4,904 ) Loans receivable, net $ 904,377 $ 902,336 |
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 three and six months ended December 31, 2018 and 2017 (in thousands): Three Months Ended December 31, 2018 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 359 $ 17 $ - $ 3 $ 379 Commercial 3,130 245 (114 ) - 3,261 Construction 493 (331 ) - 96 258 Commercial loans 825 55 - - 880 Home equity lines of credit 69 13 - - 82 Consumer and overdrafts 10 7 (9 ) 2 10 Acquired: Residential 73 - - - 73 Total $ 4,959 $ 6 $ (123 ) $ 101 $ 4,943 Three Months Ended December 31, 2017 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 407 $ (5 ) $ - $ - $ 402 Commercial 2,709 (23 ) - - 2,686 Construction 1,160 237 (997 ) - 400 Commercial loans 889 (45 ) - - 844 Home equity lines of credit 77 (3 ) - - 74 Consumer and overdrafts - - - - - Acquired: Residential 26 39 - - 65 Total $ 5,268 $ 200 $ (997 ) $ - $ 4,471 Six Months Ended December 31, 2018 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 386 $ (12 ) $ - $ 5 $ 379 Commercial 3,073 302 (114 ) - 3,261 Construction 505 (343 ) - 96 258 Commercial loans 780 100 - - 880 Home equity lines of credit 80 2 - - 82 Consumer and installment loans 7 15 (16 ) 4 10 Acquired: Residential 73 - - - 73 Total $ 4,904 $ 64 $ (130 ) $ 105 $ 4,943 Six Months Ended December 31, 2017 Beginning Allowance Provision (credit) Charge-offs Recoveries Ending Allowance Originated: Residential $ 360 $ 59 $ (17 ) $ - $ 402 Commercial 2,589 97 - - 2,686 Construction 1,150 247 (997 ) - 400 Commercial loans 949 (105 ) - - 844 Home equity lines of credit 76 (2 ) - - 74 Consumer and installment loans - - - - - Acquired: Residential 26 39 - - 65 Total $ 5,150 $ 335 $ (1,014 ) $ - $ 4,471 |
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 December 31, 2018 and June 30, 2018 (in thousands): December 31, 2018 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 $ 2,367 $ 244,925 $ 1,283 $ 248,575 $ 123 $ 256 $ 73 $ 452 Commercial 1,413 497,044 1,473 499,930 - 3,261 - 3,261 Construction - 16,023 - 16,023 - 258 - 258 Commercial loans 1,913 105,986 - 107,899 2 878 - 880 Home equity lines of credit 685 34,182 162 35,029 13 69 - 82 Consumer and overdrafts - 321 - 321 - 10 - 10 Total $ 6,378 $ 898,481 $ 2,918 $ 907,777 $ 138 $ 4,732 $ 73 $ 4,943 June 30, 2018 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 $ 2,360 $ 246,913 $ 1,305 $ 250,578 $ 154 $ 232 $ 73 $ 459 Commercial 1,683 492,105 1,477 495,265 - 3,073 - 3,073 Construction 2,260 15,092 - 17,352 276 229 - 505 Commercial loans 2,451 101,684 - 104,135 9 771 - 780 Home equity lines of credit 360 36,867 168 37,395 12 68 - 80 Consumer and overdrafts - 745 - 745 - 7 - 7 Total $ 9,114 $ 893,406 $ 2,950 $ 905,470 $ 451 $ 4,380 $ 73 $ 4,904 |
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 December 31, 2018 and June 30, 2018 (in thousands): December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses With no related allowance recorded: Residential $ 1,969 $ 1,923 $ - Commercial 1,490 1,413 - Commercial loans 5,164 1,851 - Home equity lines of credit 665 596 - With a related allowance recorded: Residential 384 444 123 Commercial loans 62 62 2 Home equity lines of credit 90 89 13 Total $ 9,824 $ 6,378 $ 138 June 30, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses With no related allowance recorded: Residential $ 1,659 $ 1,576 $ - Commercial 1,765 1,683 - Commercial loans 2,254 2,098 - Home equity lines of credit 341 341 - With a related allowance recorded: Residential 742 784 154 Construction 3,257 2,260 276 Commercial loans 353 353 9 Home equity lines of credit 84 19 12 Total $ 10,455 $ 9,114 $ 451 |
Summary of Average Recorded Investment and Interest Income Recognized on Loans Individually Evaluated for Impairment, by Class of Loans | The table below presents the average recorded investment and interest income recognized on loans individually evaluated for impairment, by class of loans, for the three and six months ended December 31, 2018 and 2017 (in thousands): Three months ended Three months ended December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 1,927 $ 4 $ 3,027 $ 124 Commercial 1,417 13 2,454 27 Commercial loans 2,110 47 3,488 77 Home equity lines of credit 597 1 571 20 With a related allowance recorded: Residential 445 3 778 3 Construction 1,130 - 3,008 - Commercial loans 63 1 1,439 13 Home equity lines of credit 89 - 11 - Total $ 7,778 $ 69 $ 14,776 $ 264 Six Months Ended Six Months Ended December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential $ 1,968 $ 11 $ 3,431 $ 166 Commercial 1,532 26 2,447 54 Construction - - 173 17 Commercial loans 2,226 96 4,002 160 Home equity lines of credit 612 9 593 20 With a related allowance recorded: Residential 446 7 686 7 Construction 1,614 - 3,115 - Commercial loans 63 1 1,448 31 Home equity lines of credit 89 - 11 - Total $ 8,550 $ 150 $ 15,906 $ 455 |
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 and still on accrual status, by class of loans as of December 31, 2018 and June 30, 2018 (in thousands): Loans Past Due Over 90 Days Nonaccrual and Still Accruing December 31, June 30, December 31, June 30, 2018 2018 2018 2018 Originated: Residential $ 635 $ 604 $ - $ - Commercial - 262 - - Construction - 2,260 - - Commercial loans 278 788 158 - Home equity lines of credit 374 45 - - Consumer and overdrafts - - - Acquired: Residential 1,288 1,308 - - Commercial 543 532 - - Home equity lines of credit 299 303 - - Total $ 3,417 $ 6,102 $ 158 $ - |
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 December 31, 2018 and June 30, 2018 (in thousands): December 31, 2018 30-59 60-89 90 Days or Days Past Days Past More Past Total Past Due Due Due Due Current Total Originated: Residential $ 24 $ - $ 553 $ 577 $ 197,263 $ 197,840 Commercial - - - - 436,430 436,430 Construction - - - - 16,023 16,023 Commercial loans - - 159 159 107,546 107,705 Home equity lines of credit 18 297 - 315 30,424 30,739 Consumer and overdrafts - - - - 321 321 Total originated 42 297 712 1,051 788,007 789,058 Acquired: Residential 116 - 1,488 1,604 49,131 50,735 Commercial - - 1,122 1,122 62,378 63,500 Commercial loans - - - - 194 194 Home equity lines of credit 70 - 296 366 3,924 4,290 Total acquired 186 - 2,906 3,092 115,627 118,719 Total $ 228 $ 297 $ 3,618 $ 4,143 $ 903,634 $ 907,777 June 30, 2018 30-59 60-89 90 Days or Days Past Days Past More Past Total Past Due Due Due Due Current Total Originated: Residential $ - $ 394 $ 210 $ 604 $ 194,986 $ 195,590 Commercial - - 262 262 420,320 420,582 Construction - - 2,260 2,260 15,092 17,352 Commercial loans - - 500 500 102,767 103,267 Home equity lines of credit - - 45 45 32,311 32,356 Consumer and overdrafts - - - - 733 733 Total originated - 394 3,277 3,671 766,209 769,880 Acquired: Residential - 232 1,806 2,038 52,950 54,988 Commercial - - 1,112 1,112 73,571 74,683 Commercial loans - - - - 868 868 Home equity lines of credit 30 - 296 326 4,713 5,039 Consumer and overdrafts - - - - 12 12 Total acquired 30 232 3,214 3,476 132,114 135,590 Total $ 30 $ 626 $ 6,491 $ 7,147 $ 898,323 $ 905,470 |
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): December 31, 2018 Pass Special Mention Substandard Doubtful Total Originated: Residential $ 196,542 $ 553 $ 745 $ - $ 197,840 Commercial 436,290 - 140 - 436,430 Construction 16,023 - - - 16,023 Commercial loans 103,489 158 4,058 - 107,705 Home equity lines of credit 30,200 165 374 - 30,739 Consumer and overdrafts 321 - - - 321 Total originated 782,865 876 5,317 - 789,058 Acquired: Residential 47,934 358 2,443 - 50,735 Commercial 60,653 831 2,016 - 63,500 Commercial loans 188 6 - - 194 Home equity lines of credit 3,828 71 391 - 4,290 Total acquired 112,603 1,266 4,850 - 118,719 Total $ 895,468 $ 2,142 $ 10,167 $ - $ 907,777 June 30, 2018 Pass Special Mention Substandard Doubtful Total Originated: Residential $ 194,341 $ 571 $ 678 $ - $ 195,590 Commercial 418,370 - 2,212 - 420,582 Construction 15,092 - 2,260 - 17,352 Commercial loans 98,205 167 4,895 - 103,267 Home equity lines of credit 32,167 144 45 - 32,356 Consumer and overdrafts 733 - - 733 Total originated 758,908 882 10,090 - 769,880 Acquired: Residential 51,858 249 2,881 - 54,988 Commercial 71,832 842 2,009 - 74,683 Commercial loans 857 11 - - 868 Home equity lines of credit 4,641 - 398 - 5,039 Consumer and overdrafts 12 - - - 12 Total acquired 129,200 1,102 5,288 - 135,590 Total $ 888,108 $ 1,984 $ 15,378 $ - $ 905,470 |
Schedule of Carrying Amount of Purchased Credit Impaired Loans | The carrying amount of those loans as of December 31, 2018 and June 30, 2018 is as follows (in thousands): December 31, June 30, 2018 2018 Residential $ 1,210 $ 1,232 Commercial 1,473 1,477 Home equity lines of credit 162 168 Carrying amount, net of allowance of $73 and $73, respectively $ 2,845 $ 2,877 |
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): Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Beginning balance $ 232 $ 532 $ 245 $ 578 New loans acquired - - - - Accretion income (13 ) (46 ) (26 ) (92 ) Reclassification from non-accretable difference - - - - Disposals - - - - Ending balance $ 219 $ 486 $ 219 $ 486 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
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 October 1, 2018 $ (1,657 ) $ (5,035 ) $ (257 ) $ (6,949 ) Other comprehensive income before reclassifications 506 - - 506 Amounts reclassified from accumulated other comprehensive income (55 ) 145 9 99 Less tax effect (94 ) (31 ) (2 ) (127 ) Net other comprehensive income 357 114 7 478 Balance at December 31, 2018 $ (1,300 ) $ (4,921 ) $ (250 ) $ (6,471 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at October 1, 2017 $ (195 ) $ (4,883 ) $ (244 ) $ (5,322 ) Other comprehensive loss before reclassifications (717 ) - - (717 ) Amounts reclassified from accumulated other comprehensive income - 181 8 189 Less tax effect 243 (61 ) (2 ) 180 Net other comprehensive (loss) income (474 ) 120 6 (348 ) Balance at December 31, 2017 $ (669 ) $ (4,763 ) $ (238 ) $ (5,670 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2018 $ (1,536 ) $ (5,150 ) $ (264 ) $ (6,950 ) Other comprehensive income before reclassifications 353 - - 353 Amounts reclassified from accumulated other comprehensive income (55 ) 290 18 253 Tax effect (62 ) (61 ) (4 ) (127 ) Net other comprehensive income 236 229 14 479 Balance at December 31, 2018 $ (1,300 ) $ (4,921 ) $ (250 ) $ (6,471 ) Net unrealized gain (loss) on available for sale securities Unrealized loss on pension benefits Unrealized loss on SERP benefits Total Balance at July 1, 2017 $ 37 $ (5,002 ) $ (250 ) $ (5,215 ) Other comprehensive loss before reclassifications (930 ) - - (930 ) Amounts reclassified from accumulated other comprehensive income (139 ) 362 16 239 Tax effect 363 (123 ) (4 ) 236 Net other comprehensive (loss) income (706 ) 239 12 (455 ) Balance at December 31, 2017 $ (669 ) $ (4,763 ) $ (238 ) $ (5,670 ) |
Post-Retirement Benefits (Table
Post-Retirement Benefits (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Schedule of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income | Net periodic benefit cost and other amounts recognized in other comprehensive income for the three and six months ended December 31, 2018 and 2017 (in thousands): Three Months Ended Three Months Ended December 31, 2018 December 31, 2017 Defined Benefit Plan Supplemental Retirement Plans Defined Benefit Plan Supplemental Retirement Plans Service cost $ - $ 147 $ - $ 107 Interest cost 250 26 242 25 Expected return on plan assets (513 ) - (503 ) - Amortization of prior net loss 145 9 - - Amortization of prior service cost - - 181 8 Net periodic (benefit) cost $ (118 ) $ 182 $ (80 ) $ 140 Six Months Ended Six Months Ended December 31, 2018 December 31, 2017 Defined Benefit Plan Supplemental Retirement Plan Defined Benefit Plan Supplemental Retirement Plan Service cost $ - $ 295 $ - $ 220 Interest cost 500 52 484 50 Expected return on plan assets (1,026 ) - (1,006 ) - Amortization of prior net loss 290 18 - 0 Amortization of prior service cost - - 362 16 Net periodic (benefit) cost $ (236 ) $ 365 $ (160 ) $ 286 |
Shares Held by ESOP | Shares held by the ESOP include the following (dollars in thousands): December 31, 2018 June 30, 2018 Allocated to participants 193,762 144,923 Unearned 1,259,447 1,308,286 Total ESOP shares 1,453,209 1,453,209 Fair value of unearned shares $ 24,635 $ 25,996 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
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 December 31, 2018 Measured on a recurring basis: Available for sale securities: U.S. Government and agency obligations $ - $ 55,648 $ - $ 55,648 Corporate and other debt securities - 8,212 - 8,212 Mortgage-backed securities – residential - 28,826 - 28,826 Derivatives – interest rate contracts - 343 - 343 Total assets at fair value $ - $ 93,029 $ - $ 93,029 Derivatives – interest rate contracts $ - $ 343 $ - $ 343 Total liabilities at fair value $ - $ 343 $ - $ 343 Measured on a non-recurring basis: Impaired loans: Residential mortgages $ - $ - $ 526 $ 526 Commercial loans - - 62 62 Home equity lines of credit - - 88 88 Foreclosed real estate - - 572 572 Total assets at fair value $ - $ - $ 1,248 $ 1,248 Fair Value Measurements Level 1 Level 2 Level 3 Total June 30, 2018 Measured on a recurring basis: Available for sale securities: U.S. Government and agency obligations $ - $ 63,430 $ - $ 63,430 Corporate and other debt securities - 8,235 - 8,235 Mortgage-backed securities – residential - 33,807 - 33,807 Total assets at fair value $ - $ 105,472 $ - $ 105,472 Measured on a non-recurring basis: Impaired loans: Residential mortgages $ - $ - $ 688 $ 688 Construction - - 1,984 1,984 Commercial loans - - 845 845 Home equity lines of credit - - 7 7 Foreclosed real estate - - 460 460 Total assets at fair value $ - $ - $ 3,984 $ 3,984 |
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 December 31, 2018 and June 30, 2018 (dollars in thousands): Valuation Unobservable Range or Fair Value Technique(s) Input(s) Rate Used December 31, 2018: Impaired loans - residential mortgages $ 526 Discounted cash flow Discount rate 5.4% to 6.3% Sales contract Discount to sales contract -24.3% to -10.3% Impaired loans - commercial loans 62 Discounted cash flow Discount rate 7.0% to 7.5% Impaired loans - home equity lines of credit 88 Discounted cash flow Discount rate 6.3% Sales contract Discount to sales contract -24.3% to -10.3% Foreclosed real estate 572 Sales comparison Adjustments for differences in sales comparables -25.0% to 45.0% June 30, 2018: Impaired loans - residential mortgages $ 688 Sales comparison Adjustments for differences in sales comparables -5.1% to 20.9% Discounted cash flow Discount rate 5.4% to 6.3% Impaired loans - construction 1,984 Sales contract Discount to sales contract 9.8% Impaired loans - commercial loans 845 Discounted cash flow Discount rate 5.3% to 7.5% Sales contract Discount to sales contract 9.8% Impaired loans - home equity lines of credit 7 Sales comparison Adjustments for differences in sales comparables -5.1% to 20.9% Discounted cash flow Discount rate 6.3% Foreclosed real estate 460 Sales comparison Adjustments for differences in sales comparables -8.1% to -0.4% |
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 December 31, 2018: Financial assets: Cash and cash equivalents $ 143,119 $ 143,119 $ - $ - $ 143,119 Investment securities held to maturity 359,777 - 351,701 - 351,701 Investment securities available for sale 92,686 - 92,686 - 92,686 Loans receivable, net 904,377 - - 884,574 884,574 Accrued interest receivable 4,457 - 1,366 3,091 4,457 Federal Home Loan Bank stock 2,385 N/A N/A N/A N/A Derivative assets - interest rate contracts 343 - 343 - 343 Financial liabilities: Demand, NOW, money market deposits and savings accounts 803,970 803,970 - - 803,970 Time deposits 421,354 - 424,037 - 424,037 Mortgage escrow funds 9,085 9,085 - - 9,085 FHLB advances 26,279 - 26,299 - 26,299 Derivative liabilities - interest rate contracts 343 - 343 - 343 June 30, 2018: Financial assets: Cash and cash equivalents $ 62,145 $ 62,145 $ - $ - $ 62,145 Investment securities held to maturity 353,183 - 343,188 - 343,188 Investment securities available for sale 105,472 - 105,472 - 105,472 Loans receivable, net 902,336 - - 882,319 882,319 Accrued interest receivable 4,358 - 1,402 2,956 4,358 Federal Home Loan Bank stock 2,050 N/A N/A N/A N/A Financial liabilities: Demand, NOW, money market deposits and savings accounts 765,084 765,084 - - 765,084 Time deposits 392,373 - 394,205 - 394,205 Mortgage escrow funds 8,803 8,803 - - 8,803 FHLB advances 18,841 - 20,574 - 20,574 |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
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 December 31, 2018 and June 30, 2018, compared to the required ratios for minimum capital adequacy and for classification as well capitalized (dollars in thousands): To Be Well Capitalized Under Prompt For Capital Adequacy Corrective Action Bank Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2018: PCSB Bank Leverage (Tier 1) $ 205,731 13.8 % $ 59,702 4.0 % $ 74,628 5.0 % Risk-based: Common Tier 1 205,731 20.7 44,406 4.5 64,141 6.5 Tier 1 205,731 20.7 59,208 6.0 78,943 8.0 Total 210,674 21.2 78,973 8.0 98,679 10.0 PCSB Financial Corporation Leverage (Tier 1) N/A N/A N/A N/A N/A N/A Risk-based: Common Tier 1 N/A N/A N/A N/A N/A N/A Tier 1 N/A N/A N/A N/A N/A N/A Total N/A N/A N/A N/A N/A N/A June 30, 2018: PCSB Bank Leverage (Tier 1) $ 200,488 13.6 % $ 58,924 4.0 % $ 73,655 5.0 % Risk-based: Common Tier 1 200,488 21.1 42,745 4.5 61,743 6.5 Tier 1 200,488 21.1 56,994 6.0 75,991 8.0 Total 205,392 21.6 75,991 8.0 94,989 10.0 PCSB Financial Corporation Leverage (Tier 1) $ 287,991 19.5 % $ 58,948 4.0 % N/A N/A Risk-based: Common Tier 1 287,991 30.3 42,783 4.5 N/A N/A Tier 1 287,991 30.3 57,044 6.0 N/A N/A Total 292,895 30.8 76,058 8.0 N/A N/A |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share | The following table provides factors used in the earnings per share computation for the three and six months ended December 31, 2018 and 2017. Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 (dollars in thousands, except share and per share data) Net income applicable to common stock $ 2,324 $ 2 $ 4,653 $ 1,758 Average number of common shares outstanding 18,124,242 18,165,110 18,144,676 18,165,110 Less: Average unallocated ESOP shares (1,271,524 ) (1,373,805 ) (1,283,734 ) (1,391,227 ) Average number of common shares outstanding used to calculate basic earnings per common share 16,852,718 16,791,305 16,860,942 16,773,883 Effect of equity-based awards 15,746 - 7,873 - Average number of common shares outstanding used to calculate diluted earnings per common share 16,868,464 16,791,305 16,868,815 16,773,883 Earnings per common share: Basic $ 0.14 $ - $ 0.28 $ 0.10 Diluted $ 0.14 $ - $ 0.28 $ 0.10 |
Derivatives and Hedging (Tables
Derivatives and Hedging (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary Information About Interest Rate Swaps | The following table presents summary information about the interest rate swaps as of December 31, 2018: December 31, (dollars in thousands) 2018 Notional amounts $ 16,648 Weighted average pay rates 4.40 % Weighted average receive rates 4.40 % Weighted average maturity 9.83 years Fair value of combined interest rate swaps $ - |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of RSA Activity | The following table presents a summary of RSA activity during the period ended December 31, 2018. Number of Shares Weighted-Average Grant Date Fair Value Unvested allocated shares outstanding at July 1, 2018 - $ - Shares granted 547,185 19.02 Shares vested - - Shares forfeited - - Unvested allocated shares at December 31, 2018 547,185 $ 19.02 |
Fair Value of Option Granted Using Weighted-Average Assumptions | The fair value of options granted during the current year was determined using the following weighted-average assumptions as of grant date. Risk-free interest rate 3.03 % Expected term 6.50 Expected stock price volatility 18.26 % Dividend yield 0.63 % Weighted average fair value of options granted $ 4.61 |
Summary of Activity Related to Stock Option Granted under Stock Option Plan | The following table presents a summary of activity related to stock options granted under the Stock Plans, and changes during the period then ended: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Years Aggregate Intrinsic Value (dollars in thousands, except share and per share data) Options outstanding at July 1, 2018 - $ - $ - Options granted 1,339,293 19.04 Options expired - - Options exercised - - Options outstanding at December 31, 2018 1,339,293 $ 19.04 9.9 $ 701 Fully vested and expected to vest 1,339,293 $ 19.04 9.9 $ 701 Exercisable at December 31, 2018 - $ - $ - |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) | 6 Months Ended |
Dec. 31, 2018Subsidiary | |
Basis Of Presentation [Abstract] | |
Number of subsidiaries | 2 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
ASU 2017-07 [Member] | ||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||
Non-service cost credits included in other operating expense | $ 83,000 | $ 47,000 | $ 166,000 | $ 94,000 |
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 Debt Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | $ 94,330 | $ 107,414 |
Available for sale, Gross Unrealized/Unrecognized Gains | 19 | 81 |
Available for sale, Gross Unrealized/Unrecognized Losses | (1,663) | (2,023) |
Available for sale, Fair Value | 92,686 | 105,472 |
Held to maturity, Amortized Cost | 359,777 | 353,183 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 104 | 43 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (8,180) | (10,038) |
Held to maturity, Fair Value | 351,701 | 343,188 |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | 56,376 | 64,389 |
Available for sale, Gross Unrealized/Unrecognized Gains | 5 | |
Available for sale, Gross Unrealized/Unrecognized Losses | (733) | (959) |
Available for sale, Fair Value | 55,648 | 63,430 |
Held to maturity, Amortized Cost | 112,545 | 122,048 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 22 | |
Held to maturity, Gross Unrealized/Unrecognized Losses | (1,696) | (2,274) |
Held to maturity, Fair Value | 110,871 | 119,774 |
Corporate and Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | 8,378 | 8,406 |
Available for sale, Gross Unrealized/Unrecognized Losses | (166) | (171) |
Available for sale, Fair Value | 8,212 | 8,235 |
Held to maturity, Amortized Cost | 34,037 | 4,000 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 18 | |
Held to maturity, Gross Unrealized/Unrecognized Losses | (358) | (126) |
Held to maturity, Fair Value | 33,697 | 3,874 |
Mortgage-backed Securities - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Amortized Cost | 29,576 | 34,619 |
Available for sale, Gross Unrealized/Unrecognized Gains | 14 | 81 |
Available for sale, Gross Unrealized/Unrecognized Losses | (764) | (893) |
Available for sale, Fair Value | 28,826 | 33,807 |
Held to maturity, Amortized Cost | 136,582 | 140,478 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 42 | 32 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (3,950) | (4,846) |
Held to maturity, Fair Value | 132,674 | 135,664 |
Mortgage-backed Securities - Collateralized Mortgage Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Held to maturity, Amortized Cost | 47,972 | 53,547 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (1,470) | (1,815) |
Held to maturity, Fair Value | 46,502 | 51,732 |
Mortgage-backed Securities - Commercial [Member] | ||
Schedule of Investments [Line Items] | ||
Held to maturity, Amortized Cost | 28,641 | 33,110 |
Held to maturity, Gross Unrealized/Unrecognized Gains | 22 | 11 |
Held to maturity, Gross Unrealized/Unrecognized Losses | (706) | (977) |
Held to maturity, Fair Value | $ 27,957 | $ 32,144 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2018USD ($)Security | Dec. 31, 2017USD ($) | Dec. 31, 2018USD ($)Security | Dec. 31, 2017USD ($) | Jun. 30, 2018USD ($)Security | |
Schedule of Investments [Line Items] | |||||
Sale of investment securities | $ 2,100,000 | $ 0 | $ 2,100,000 | $ 6,600,000 | |
Realized gains or losses on investment securities | 55,000 | 55,000 | 173,000 | ||
Disposal of securities held to maturity | 681,000 | ||||
Realized gains from sale of securities held to maturity | $ 34,000 | ||||
Carrying amounts of securities pledged | 124,700,000 | 124,700,000 | $ 140,500,000 | ||
Total investment securities | $ 452,463,000 | $ 452,463,000 | $ 458,655,000 | ||
Number of securities in unrealized loss position | Security | 237 | 237 | 254 | ||
Fair value of securities in unrealized loss position | $ 400,300,000 | $ 400,300,000 | $ 438,500,000 | ||
Other-than-temporarily impaired securities | Security | 0 | 0 | 0 | ||
Minimum [Member] | |||||
Schedule of Investments [Line Items] | |||||
Held to maturity substantial portion of principal outstanding percentage | 85.00% |
Investment Securities - Fair Va
Investment Securities - Fair Value and Carrying Amount of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Investments Debt And Equity Securities [Abstract] | ||
Held to maturity, carrying amount, 1 year or less | $ 26,002 | |
Held to maturity, carrying amount, 1 to 5 years | 91,544 | |
Held to maturity, carrying amount, 5 to 10 years | 25,037 | |
Held to maturity, carrying amount, Mortgage-backed securities and other | 217,194 | |
Held to maturity, Amortized Cost | 359,777 | $ 353,183 |
Held to maturity, fair value, 1 year or less | 25,792 | |
Held to maturity, fair value, 1 to 5 years | 90,080 | |
Held to maturity, fair value, 5 to 10 years | 24,989 | |
Held to maturity, fair value, Mortgage-backed securities and other | 210,840 | |
Held to maturity, fair value, Total | 351,701 | 343,188 |
Available for sale, amortized cost, 1 year or less | 18,417 | |
Available for sale, amortized cost, 1 to 5 years | 44,337 | |
Available for sale, amortized cost, 5 to 10 years | 2,000 | |
Available for sale, amortized cost, Mortgage-backed securities and other | 29,576 | |
Available for sale, Amortized Cost | 94,330 | 107,414 |
Available for sale, fair value, 1 year or less | 18,261 | |
Available for sale, fair value, 1 to 5 years | 43,636 | |
Available for sale, fair value, 5 to 10 years | 1,963 | |
Available for sale, fair value, Mortgage-backed securities and other | 28,826 | |
Available for sale, fair value, Total | $ 92,686 | $ 105,472 |
Investment Securities - Investm
Investment Securities - Investment Securities with Fair Value and Unrealized Losses (Detail) - USD ($) | Dec. 31, 2018 | Jun. 30, 2018 |
Schedule of Investments [Line Items] | ||
Available for sale, Less than 12 months, Fair Value | $ 9,876,000 | $ 61,417,000 |
Available for sale, Less than 12 months, Unrealized/Unrecognized Loss | (63,000) | (1,096,000) |
Available for sale, 12 months or greater, Fair Value | 76,248,000 | 38,363,000 |
Available for sale, 12 months or greater, Unrealized/Unrecognized Loss | (1,600,000) | (927,000) |
Available for sale, Total, Fair Value | 86,124,000 | 99,780,000 |
Available for sale, Total, Unrealized/Unrecognized Loss | (1,663,000) | (2,023,000) |
Held to maturity, Less than 12 months, Fair Value | 56,476,000 | 205,419,000 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (750,000) | (5,801,000) |
Held to maturity, 12 months or greater, Fair Value | 257,736,000 | 133,338,000 |
Held to maturity, 12 months or greater, Unrealized/ Unrecognized Loss | (7,430,000) | (4,237,000) |
Held to maturity, Total, Fair Value | 314,212,000 | 338,757,000 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (8,180,000) | (10,038,000) |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Less than 12 months, Fair Value | 7,893,000 | 41,762,000 |
Available for sale, Less than 12 months, Unrealized/Unrecognized Loss | (32,000) | (569,000) |
Available for sale, 12 months or greater, Fair Value | 43,784,000 | 21,668,000 |
Available for sale, 12 months or greater, Unrealized/Unrecognized Loss | (701,000) | (390,000) |
Available for sale, Total, Fair Value | 51,677,000 | 63,430,000 |
Available for sale, Total, Unrealized/Unrecognized Loss | (733,000) | (959,000) |
Held to maturity, Less than 12 months, Fair Value | 14,824,000 | 46,163,000 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (169,000) | (871,000) |
Held to maturity, 12 months or greater, Fair Value | 90,026,000 | 71,611,000 |
Held to maturity, 12 months or greater, Unrealized/ Unrecognized Loss | (1,527,000) | (1,403,000) |
Held to maturity, Total, Fair Value | 104,850,000 | 117,774,000 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (1,696,000) | (2,274,000) |
Corporate and Other Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Less than 12 months, Fair Value | 1,983,000 | 6,258,000 |
Available for sale, Less than 12 months, Unrealized/Unrecognized Loss | (31,000) | (148,000) |
Available for sale, 12 months or greater, Fair Value | 6,229,000 | 1,977,000 |
Available for sale, 12 months or greater, Unrealized/Unrecognized Loss | (135,000) | (23,000) |
Available for sale, Total, Fair Value | 8,212,000 | 8,235,000 |
Available for sale, Total, Unrealized/Unrecognized Loss | (166,000) | (171,000) |
Held to maturity, Less than 12 months, Fair Value | 4,971,000 | 3,874,000 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (65,000) | (126,000) |
Held to maturity, 12 months or greater, Fair Value | 3,708,000 | |
Held to maturity, 12 months or greater, Unrealized/ Unrecognized Loss | (293,000) | |
Held to maturity, Total, Fair Value | 8,679,000 | 3,874,000 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (358,000) | (126,000) |
Mortgage-backed Securities - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Available for sale, Less than 12 months, Fair Value | 13,397,000 | |
Available for sale, Less than 12 months, Unrealized/Unrecognized Loss | (379,000) | |
Available for sale, 12 months or greater, Fair Value | 26,235,000 | 14,718,000 |
Available for sale, 12 months or greater, Unrealized/Unrecognized Loss | (764,000) | (514,000) |
Available for sale, Total, Fair Value | 26,235,000 | 28,115,000 |
Available for sale, Total, Unrealized/Unrecognized Loss | (764,000) | (893,000) |
Held to maturity, Less than 12 months, Fair Value | 25,472,000 | 102,496,000 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (440,000) | (3,338,000) |
Held to maturity, 12 months or greater, Fair Value | 102,502,000 | 32,490,000 |
Held to maturity, 12 months or greater, Unrealized/ Unrecognized Loss | (3,510,000) | (1,508,000) |
Held to maturity, Total, Fair Value | 127,974,000 | 134,986,000 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (3,950,000) | (4,846,000) |
Mortgage-backed Securities - Collateralized Mortgage Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Held to maturity, Less than 12 months, Fair Value | 2,547,000 | 31,124,000 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (21,000) | (884,000) |
Held to maturity, 12 months or greater, Fair Value | 43,955,000 | 20,608,000 |
Held to maturity, 12 months or greater, Unrealized/ Unrecognized Loss | (1,449,000) | (931,000) |
Held to maturity, Total, Fair Value | 46,502,000 | 51,732,000 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | (1,470,000) | (1,815,000) |
Mortgage-backed Securities - Commercial [Member] | ||
Schedule of Investments [Line Items] | ||
Held to maturity, Less than 12 months, Fair Value | 8,662,000 | 21,762,000 |
Held to maturity, Less than 12 months, Unrealized/ Unrecognized Loss | (55,000) | (582,000) |
Held to maturity, 12 months or greater, Fair Value | 17,545,000 | 8,629,000 |
Held to maturity, 12 months or greater, Unrealized/ Unrecognized Loss | (651,000) | (395,000) |
Held to maturity, Total, Fair Value | 26,207,000 | 30,391,000 |
Held to maturity, Total, Unrealized/ Unrecognized Loss | $ (706,000) | $ (977,000) |
Loans Receivable - Summary of L
Loans Receivable - Summary of Loans Receivable (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 |
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans receivable, before fees | $ 907,777 | $ 905,470 | ||||
Loans receivable | 909,320 | 907,240 | ||||
Allowance for loan losses | (4,943) | $ (4,959) | (4,904) | $ (4,471) | $ (5,268) | $ (5,150) |
Loans receivable, net | 904,377 | 902,336 | ||||
Residential [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans receivable, before fees | 248,575 | 250,578 | ||||
Commercial [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans receivable, before fees | 499,930 | 495,265 | ||||
Allowance for loan losses | (3,261) | (3,073) | ||||
Construction [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans receivable, before fees | 16,023 | 17,352 | ||||
Allowance for loan losses | (258) | (505) | ||||
Commercial Loans [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans receivable, before fees | 107,899 | 104,135 | ||||
Allowance for loan losses | (880) | (780) | ||||
Home Equity Lines Of Credit [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans receivable, before fees | 35,029 | 37,395 | ||||
Allowance for loan losses | (82) | (80) | ||||
Consumer and Overdrafts [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Loans receivable, before fees | 321 | 745 | ||||
Allowance for loan losses | (10) | (7) | ||||
Mortgage Loans [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Net deferred loan origination costs | 842 | 1,041 | ||||
Loans receivable | 765,370 | 764,236 | ||||
Commercial and Consumer Loans [Member] | ||||||
Loans and Leases Receivable Disclosure [Line Items] | ||||||
Net deferred loan origination costs | 701 | 729 | ||||
Loans receivable | $ 143,950 | $ 143,004 |
Loans Receivable - Summary of A
Loans Receivable - Summary of Activity in Allowance for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | $ 4,959 | $ 5,268 | $ 4,904 | $ 5,150 |
Allowance for Loan Losses, Provision (credit) | 6 | 200 | 64 | 335 |
Allowance for Loan Losses, Charge-offs | (123) | (997) | (130) | (1,014) |
Allowance for Loan Losses, Recoveries | 101 | 105 | ||
Allowance for Loan Losses, Ending Allowance | 4,943 | 4,471 | 4,943 | 4,471 |
Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 3,073 | |||
Allowance for Loan Losses, Ending Allowance | 3,261 | 3,261 | ||
Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 505 | |||
Allowance for Loan Losses, Ending Allowance | 258 | 258 | ||
Commercial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 780 | |||
Allowance for Loan Losses, Ending Allowance | 880 | 880 | ||
Home Equity Lines Of Credit [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 80 | |||
Allowance for Loan Losses, Ending Allowance | 82 | 82 | ||
Consumer and Overdrafts [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 7 | |||
Allowance for Loan Losses, Ending Allowance | 10 | 10 | ||
Originated [Member] | Residential [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 359 | 407 | 386 | 360 |
Allowance for Loan Losses, Provision (credit) | 17 | (5) | (12) | 59 |
Allowance for Loan Losses, Charge-offs | (17) | |||
Allowance for Loan Losses, Recoveries | 3 | 5 | ||
Allowance for Loan Losses, Ending Allowance | 379 | 402 | 379 | 402 |
Originated [Member] | Commercial [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 3,130 | 2,709 | 3,073 | 2,589 |
Allowance for Loan Losses, Provision (credit) | 245 | (23) | 302 | 97 |
Allowance for Loan Losses, Charge-offs | (114) | (114) | ||
Allowance for Loan Losses, Ending Allowance | 3,261 | 2,686 | 3,261 | 2,686 |
Originated [Member] | Construction [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 493 | 1,160 | 505 | 1,150 |
Allowance for Loan Losses, Provision (credit) | (331) | 237 | (343) | 247 |
Allowance for Loan Losses, Charge-offs | (997) | (997) | ||
Allowance for Loan Losses, Recoveries | 96 | 96 | ||
Allowance for Loan Losses, Ending Allowance | 258 | 400 | 258 | 400 |
Originated [Member] | Commercial Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 825 | 889 | 780 | 949 |
Allowance for Loan Losses, Provision (credit) | 55 | (45) | 100 | (105) |
Allowance for Loan Losses, Ending Allowance | 880 | 844 | 880 | 844 |
Originated [Member] | Home Equity Lines Of Credit [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 69 | 77 | 80 | 76 |
Allowance for Loan Losses, Provision (credit) | 13 | (3) | 2 | (2) |
Allowance for Loan Losses, Ending Allowance | 82 | 74 | 82 | 74 |
Originated [Member] | Consumer and Overdrafts [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 10 | |||
Allowance for Loan Losses, Provision (credit) | 7 | |||
Allowance for Loan Losses, Charge-offs | (9) | |||
Allowance for Loan Losses, Recoveries | 2 | |||
Allowance for Loan Losses, Ending Allowance | 10 | 10 | ||
Originated [Member] | Consumer And Installment Loans [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 7 | |||
Allowance for Loan Losses, Provision (credit) | 15 | |||
Allowance for Loan Losses, Charge-offs | (16) | |||
Allowance for Loan Losses, Recoveries | 4 | |||
Allowance for Loan Losses, Ending Allowance | 10 | 10 | ||
Acquired [Member] | Residential [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for Loan Losses, Beginning Allowance | 73 | 26 | 73 | 26 |
Allowance for Loan Losses, Provision (credit) | 39 | 39 | ||
Allowance for Loan Losses, Ending Allowance | $ 73 | $ 65 | $ 73 | $ 65 |
Loans Receivable - Summary of B
Loans Receivable - 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 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans, Individually Evaluated for Impairment | $ 6,378 | $ 9,114 | ||||
Loans, Collectively Evaluated for Impairment | 898,481 | 893,406 | ||||
Total | 907,777 | 905,470 | ||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 138 | 451 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 4,732 | 4,380 | ||||
Allowance for Loan Losses, Total | 4,943 | $ 4,959 | 4,904 | $ 4,471 | $ 5,268 | $ 5,150 |
Originated And Acquired Loans | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Total | 4,943 | 4,904 | ||||
Acquired with Deteriorated Credit Quality [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans, Acquired With Deteriorated Credit Quality | 2,918 | 2,950 | ||||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 73 | 73 | ||||
Residential [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans, Individually Evaluated for Impairment | 2,367 | 2,360 | ||||
Loans, Collectively Evaluated for Impairment | 244,925 | 246,913 | ||||
Total | 248,575 | 250,578 | ||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 123 | 154 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 256 | 232 | ||||
Residential [Member] | Originated And Acquired Loans | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Total | 452 | 459 | ||||
Residential [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans, Acquired With Deteriorated Credit Quality | 1,283 | 1,305 | ||||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 73 | 73 | ||||
Commercial [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans, Individually Evaluated for Impairment | 1,413 | 1,683 | ||||
Loans, Collectively Evaluated for Impairment | 497,044 | 492,105 | ||||
Total | 499,930 | 495,265 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 3,261 | 3,073 | ||||
Allowance for Loan Losses, Total | 3,261 | 3,073 | ||||
Commercial [Member] | Acquired with Deteriorated Credit Quality [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans, Acquired With Deteriorated Credit Quality | 1,473 | 1,477 | ||||
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 | 2,260 | |||||
Loans, Collectively Evaluated for Impairment | 16,023 | 15,092 | ||||
Total | 16,023 | 17,352 | ||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 276 | |||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 258 | 229 | ||||
Allowance for Loan Losses, Total | 258 | 505 | ||||
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 | 1,913 | 2,451 | ||||
Loans, Collectively Evaluated for Impairment | 105,986 | 101,684 | ||||
Total | 107,899 | 104,135 | ||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 2 | 9 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 878 | 771 | ||||
Allowance for Loan Losses, Total | 880 | 780 | ||||
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 | ||||
Home Equity Lines Of Credit [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans, Individually Evaluated for Impairment | 685 | 360 | ||||
Loans, Collectively Evaluated for Impairment | 34,182 | 36,867 | ||||
Total | 35,029 | 37,395 | ||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 13 | 12 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 69 | 68 | ||||
Allowance for Loan Losses, Total | 82 | 80 | ||||
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 | 162 | 168 | ||||
Allowance for Loan Losses, Acquired With Deteriorated Credit Quality | 0 | 0 | ||||
Consumer and Overdrafts [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Loans, Collectively Evaluated for Impairment | 321 | 745 | ||||
Total | 321 | 745 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 10 | 7 | ||||
Allowance for Loan Losses, Total | $ 10 | $ 7 |
Loans Receivable - Summary of_2
Loans Receivable - Summary of Loans Individually Evaluated for Impairment (Excluding Loans Acquired with Deteriorated Credit Quality) by Class of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable Impaired [Line Items] | ||
Impaired loans, unpaid principal balance | $ 9,824 | $ 10,455 |
Impaired loans, recorded investment | 6,378 | 9,114 |
Allowance for loan losses | 138 | 451 |
Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 1,969 | 1,659 |
Impaired loans with no related allowance recorded, recorded investment | 1,923 | 1,576 |
Impaired loans with a related allowance recorded, unpaid principal balance | 384 | 742 |
Impaired loans with a related allowance recorded, recorded investment | 444 | 784 |
Impaired loans, recorded investment | 2,367 | 2,360 |
Allowance for loan losses | 123 | 154 |
Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 1,490 | 1,765 |
Impaired loans with no related allowance recorded, recorded investment | 1,413 | 1,683 |
Impaired loans, recorded investment | 1,413 | 1,683 |
Commercial Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 5,164 | 2,254 |
Impaired loans with no related allowance recorded, recorded investment | 1,851 | 2,098 |
Impaired loans with a related allowance recorded, unpaid principal balance | 62 | 353 |
Impaired loans with a related allowance recorded, recorded investment | 62 | 353 |
Impaired loans, recorded investment | 1,913 | 2,451 |
Allowance for loan losses | 2 | 9 |
Home Equity Lines Of Credit [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, unpaid principal balance | 665 | 341 |
Impaired loans with no related allowance recorded, recorded investment | 596 | 341 |
Impaired loans with a related allowance recorded, unpaid principal balance | 90 | 84 |
Impaired loans with a related allowance recorded, recorded investment | 89 | 19 |
Impaired loans, recorded investment | 685 | 360 |
Allowance for loan losses | $ 13 | 12 |
Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with a related allowance recorded, unpaid principal balance | 3,257 | |
Impaired loans with a related allowance recorded, recorded investment | 2,260 | |
Impaired loans, recorded investment | 2,260 | |
Allowance for loan losses | $ 276 |
Loans Receivable - Summary of_3
Loans Receivable - Summary of Average Recorded Investment and Interest Income Recognized on Loans Individually Evaluated for Impairment, by Class of Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable Impaired [Line Items] | ||||
Impaired loans average recorded investment | $ 7,778 | $ 14,776 | $ 8,550 | $ 15,906 |
Impaired loans interest income recognized | 69 | 264 | 150 | 455 |
Residential [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Impaired loans with no related allowance recorded, average recorded investment | 1,927 | 3,027 | 1,968 | 3,431 |
Impaired loans with no related allowance recorded, interest income recognized | 4 | 124 | 11 | 166 |
Impaired loans with a related allowance recorded, average recorded investment | 445 | 778 | 446 | 686 |
Impaired loans with a related allowance recorded, interest income recognized | 3 | 3 | 7 | 7 |
Commercial [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Impaired loans with no related allowance recorded, average recorded investment | 1,417 | 2,454 | 1,532 | 2,447 |
Impaired loans with no related allowance recorded, interest income recognized | 13 | 27 | 26 | 54 |
Construction [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Impaired loans with no related allowance recorded, average recorded investment | 173 | |||
Impaired loans with no related allowance recorded, interest income recognized | 17 | |||
Impaired loans with a related allowance recorded, average recorded investment | 1,130 | 3,008 | 1,614 | 3,115 |
Commercial Loans [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Impaired loans with no related allowance recorded, average recorded investment | 2,110 | 3,488 | 2,226 | 4,002 |
Impaired loans with no related allowance recorded, interest income recognized | 47 | 77 | 96 | 160 |
Impaired loans with a related allowance recorded, average recorded investment | 63 | 1,439 | 63 | 1,448 |
Impaired loans with a related allowance recorded, interest income recognized | 1 | 13 | 1 | 31 |
Home Equity Lines Of Credit [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
Impaired loans with no related allowance recorded, average recorded investment | 597 | 571 | 612 | 593 |
Impaired loans with no related allowance recorded, interest income recognized | 1 | 20 | 9 | 20 |
Impaired loans with a related allowance recorded, average recorded investment | $ 89 | $ 11 | $ 89 | $ 11 |
Loans Receivable - Nonaccrual L
Loans Receivable - Nonaccrual Loans and in Loans Past Due over 90 Days Still on Accrual Status by Class of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 3,417 | $ 6,102 |
Loans Past Due Over 90 Days and Still Accruing | 158 | |
Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 635 | 604 |
Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 262 | |
Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,260 | |
Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 278 | 788 |
Loans Past Due Over 90 Days and Still Accruing | 158 | |
Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 374 | 45 |
Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,288 | 1,308 |
Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 543 | 532 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 299 | $ 303 |
Loans Receivable - Additional I
Loans Receivable - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2018USD ($)Loan | Dec. 31, 2017Loan | Dec. 31, 2018USD ($)Loan | Dec. 31, 2017USD ($)Loan | Jun. 30, 2018USD ($)Loan | |
Loans and Leases Receivable Disclosure [Line Items] | |||||
Number of loans classified as troubled debt restructurings | Loan | 13 | 13 | 12 | ||
Value of loans classified as troubled debt restructurings | $ | $ 4,000,000 | $ 4,000,000 | $ 3,800,000 | ||
Specific reserves | $ | $ 130,000 | $ 130,000 | 139,000 | ||
Troubled debt restructurings, number of modified loans | Loan | 0 | 0 | 2 | 0 | |
Troubled debt restructurings with carrying amount | $ | $ 428,000 | $ 1,100,000 | |||
Troubled debt restructurings for which there was a payment default | Loan | 0 | 0 | 0 | 2 | |
Increase allowance for loan loss | $ | $ 66,000 | ||||
Troubled debt restructurings for which there was a payment default cured | Loan | 1 | ||||
Troubled debt restructurings with carrying amount cured | $ | $ 823,000 | ||||
Residential [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Troubled debt restructurings, number of modified loans | Loan | 1 | ||||
Home Equity Lines Of Credit [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Troubled debt restructurings, number of modified loans | Loan | 1 | ||||
90 Days or More Past Due [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Acquired loans accounted for as purchased credit impaired loans | $ | $ 1,100,000 | $ 1,100,000 | $ 1,100,000 |
Loans Receivable - Aging of Rec
Loans Receivable - Aging of Recorded Investment in Past Due Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 4,143 | $ 7,147 |
Current | 903,634 | 898,323 |
Total | 907,777 | 905,470 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 228 | 30 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 297 | 626 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,618 | 6,491 |
Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 248,575 | 250,578 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 499,930 | 495,265 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 16,023 | 17,352 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 107,899 | 104,135 |
Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 35,029 | 37,395 |
Consumer and Overdrafts [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 321 | 745 |
Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,051 | 3,671 |
Current | 788,007 | 766,209 |
Total | 789,058 | 769,880 |
Originated [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 42 | |
Originated [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 297 | 394 |
Originated [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 712 | 3,277 |
Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 577 | 604 |
Current | 197,263 | 194,986 |
Total | 197,840 | 195,590 |
Originated [Member] | Residential [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 24 | |
Originated [Member] | Residential [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 394 | |
Originated [Member] | Residential [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 553 | 210 |
Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 262 | |
Current | 436,430 | 420,320 |
Total | 436,430 | 420,582 |
Originated [Member] | Commercial [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 262 | |
Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,260 | |
Current | 16,023 | 15,092 |
Total | 16,023 | 17,352 |
Originated [Member] | Construction [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,260 | |
Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 159 | 500 |
Current | 107,546 | 102,767 |
Total | 107,705 | 103,267 |
Originated [Member] | Commercial Loans [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 159 | 500 |
Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 315 | 45 |
Current | 30,424 | 32,311 |
Total | 30,739 | 32,356 |
Originated [Member] | Home Equity Lines Of Credit [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 18 | |
Originated [Member] | Home Equity Lines Of Credit [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 297 | |
Originated [Member] | Home Equity Lines Of Credit [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 45 | |
Originated [Member] | Consumer and Overdrafts [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 321 | 733 |
Total | 321 | 733 |
Acquired [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,092 | 3,476 |
Current | 115,627 | 132,114 |
Total | 118,719 | 135,590 |
Acquired [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 186 | 30 |
Acquired [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 232 | |
Acquired [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,906 | 3,214 |
Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,604 | 2,038 |
Current | 49,131 | 52,950 |
Total | 50,735 | 54,988 |
Acquired [Member] | Residential [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 116 | |
Acquired [Member] | Residential [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 232 | |
Acquired [Member] | Residential [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,488 | 1,806 |
Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,122 | 1,112 |
Current | 62,378 | 73,571 |
Total | 63,500 | 74,683 |
Acquired [Member] | Commercial [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,122 | 1,112 |
Acquired [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 194 | 868 |
Total | 194 | 868 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 366 | 326 |
Current | 3,924 | 4,713 |
Total | 4,290 | 5,039 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 70 | 30 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 296 | 296 |
Acquired [Member] | Consumer and Overdrafts [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 12 | |
Total | $ 12 |
Loans Receivable - Summary of R
Loans Receivable - Summary of Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 907,777 | $ 905,470 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 895,468 | 888,108 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,142 | 1,984 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 10,167 | 15,378 |
Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 248,575 | 250,578 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 499,930 | 495,265 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 16,023 | 17,352 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 107,899 | 104,135 |
Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 35,029 | 37,395 |
Consumer and Overdrafts [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 321 | 745 |
Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 789,058 | 769,880 |
Originated [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 782,865 | 758,908 |
Originated [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 876 | 882 |
Originated [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 5,317 | 10,090 |
Originated [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 197,840 | 195,590 |
Originated [Member] | Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 196,542 | 194,341 |
Originated [Member] | Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 553 | 571 |
Originated [Member] | Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 745 | 678 |
Originated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 436,430 | 420,582 |
Originated [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 436,290 | 418,370 |
Originated [Member] | Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 140 | 2,212 |
Originated [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 16,023 | 17,352 |
Originated [Member] | Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 16,023 | 15,092 |
Originated [Member] | Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,260 | |
Originated [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 107,705 | 103,267 |
Originated [Member] | Commercial Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 103,489 | 98,205 |
Originated [Member] | Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 158 | 167 |
Originated [Member] | Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,058 | 4,895 |
Originated [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 30,739 | 32,356 |
Originated [Member] | Home Equity Lines Of Credit [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 30,200 | 32,167 |
Originated [Member] | Home Equity Lines Of Credit [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 165 | 144 |
Originated [Member] | Home Equity Lines Of Credit [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 374 | 45 |
Originated [Member] | Consumer and Overdrafts [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 321 | 733 |
Originated [Member] | Consumer and Overdrafts [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 321 | 733 |
Acquired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 118,719 | 135,590 |
Acquired [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 112,603 | 129,200 |
Acquired [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,266 | 1,102 |
Acquired [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,850 | 5,288 |
Acquired [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 50,735 | 54,988 |
Acquired [Member] | Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 47,934 | 51,858 |
Acquired [Member] | Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 358 | 249 |
Acquired [Member] | Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,443 | 2,881 |
Acquired [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 63,500 | 74,683 |
Acquired [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 60,653 | 71,832 |
Acquired [Member] | Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 831 | 842 |
Acquired [Member] | Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,016 | 2,009 |
Acquired [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 194 | 868 |
Acquired [Member] | Commercial Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 188 | 857 |
Acquired [Member] | Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6 | 11 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,290 | 5,039 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 3,828 | 4,641 |
Acquired [Member] | Home Equity Lines Of Credit [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 71 | |
Acquired [Member] | Home Equity Lines Of Credit [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 391 | 398 |
Acquired [Member] | Consumer and Overdrafts [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 12 | |
Acquired [Member] | Consumer and Overdrafts [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 12 |
Loans Receivable - Schedule of
Loans Receivable - Schedule of Carrying Amount of Purchased Credit Impaired Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | $ 904,377 | $ 902,336 |
Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | 2,845 | 2,877 |
Acquired with Deteriorated Credit Quality [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | 1,210 | 1,232 |
Acquired with Deteriorated Credit Quality [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | 1,473 | 1,477 |
Acquired with Deteriorated Credit Quality [Member] | Home Equity Lines Of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans | $ 162 | $ 168 |
Loans Receivable - Schedule o_2
Loans Receivable - Schedule of Carrying Amount of Purchased Credit Impaired Loans (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount of loans, allowance | $ 73 | $ 73 |
Loans Receivable - Summary of_4
Loans Receivable - Summary of Accretable Yield, or Income Expected to be Collected for Acquired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities [Abstract] | ||||
Beginning balance | $ 232 | $ 532 | $ 245 | $ 578 |
Accretion income | (13) | (46) | (26) | (92) |
Ending balance | $ 219 | $ 486 | $ 219 | $ 486 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) - Summary of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ 287,559 | $ 279,846 | ||
Total other comprehensive income (loss) | $ 478 | $ (348) | 479 | (455) |
Ending Balance | 288,782 | 282,411 | 288,782 | 282,411 |
Net Unrealized Gain (Loss) on Available for Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (1,657) | (195) | (1,536) | 37 |
Other comprehensive (loss) income before reclassifications | 506 | (717) | 353 | (930) |
Amounts reclassified from accumulated other comprehensive income | (55) | (55) | (139) | |
Less tax effect | (94) | 243 | (62) | 363 |
Total other comprehensive income (loss) | 357 | (474) | 236 | (706) |
Ending Balance | (1,300) | (669) | (1,300) | (669) |
Unrealized Losses on Retirement Plans [Member] | Pension Benefits [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (5,035) | (4,883) | (5,150) | (5,002) |
Amounts reclassified from accumulated other comprehensive income | 145 | 181 | 290 | 362 |
Less tax effect | (31) | (61) | (61) | (123) |
Total other comprehensive income (loss) | 114 | 120 | 229 | 239 |
Ending Balance | (4,921) | (4,763) | (4,921) | (4,763) |
Unrealized Losses on Retirement Plans [Member] | SERP Benefits [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (257) | (244) | (264) | (250) |
Amounts reclassified from accumulated other comprehensive income | 9 | 8 | 18 | 16 |
Less tax effect | (2) | (2) | (4) | (4) |
Total other comprehensive income (loss) | 7 | 6 | 14 | 12 |
Ending Balance | (250) | (238) | (250) | (238) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (6,949) | (5,322) | (6,950) | (5,215) |
Other comprehensive (loss) income before reclassifications | 506 | (717) | 353 | (930) |
Amounts reclassified from accumulated other comprehensive income | 99 | 189 | 253 | 239 |
Less tax effect | (127) | 180 | (127) | 236 |
Total other comprehensive income (loss) | 478 | (348) | 479 | (455) |
Ending Balance | $ (6,471) | $ (5,670) | $ (6,471) | $ (5,670) |
Post-Retirement Benefits - Addi
Post-Retirement Benefits - Additional Information (Detail) - USD ($) | Dec. 31, 2018 | Apr. 20, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2019 | Jun. 30, 2018 |
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Effective date of freezing of the defined benefit pension plan | May 1, 2017 | |||||||
Defined benefit plan, contributions by employer | $ 0 | $ 0 | ||||||
ESOP shares | 1,453,209 | 1,453,209 | 1,453,209 | 1,453,209 | 1,453,209 | |||
Stock price | $ 10 | |||||||
ESOP payable term | 15 years | |||||||
ESOP prime rate percentage | 4.50% | |||||||
ESOP borrowing | $ 12,600,000 | $ 12,600,000 | $ 12,600,000 | |||||
Number of shares committed to be released per year through 2032 | 96,881 | 96,881 | 96,881 | |||||
ESOP Compensation | $ 477,000 | $ 672,000 | $ 970,000 | $ 1,279,000 | ||||
Scenario Forecast [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Defined benefit plan, contributions by employer | $ 0 |
Post-Retirement Benefits - Sche
Post-Retirement Benefits - Schedule of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Employee Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 250 | $ 242 | $ 500 | $ 484 |
Expected return on plan assets | (513) | (503) | (1,026) | (1,006) |
Amortization of prior net loss | 145 | 290 | ||
Amortization of prior service cost | 181 | 362 | ||
Net periodic (benefit) cost | (118) | (80) | (236) | (160) |
Supplemental Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 147 | 107 | 295 | 220 |
Interest cost | 26 | 25 | 52 | 50 |
Amortization of prior net loss | 9 | 18 | 0 | |
Amortization of prior service cost | 8 | 16 | ||
Net periodic (benefit) cost | $ 182 | $ 140 | $ 365 | $ 286 |
Post-Retirement Benefits - Shar
Post-Retirement Benefits - Shares Held by ESOP (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 | Apr. 20, 2017 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||
Allocated to participants | 193,762 | 144,923 | |
Unearned | 1,259,447 | 1,308,286 | |
Total ESOP shares | 1,453,209 | 1,453,209 | 1,453,209 |
Fair value of unearned shares | $ 24,635 | $ 25,996 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||||||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Fair value transfers between levels | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Carrying amount of loans | 904,377,000 | 904,377,000 | $ 902,336,000 | |||||
Remaining valuation allowance | 4,943,000 | 4,471,000 | 4,943,000 | 4,471,000 | $ 4,959,000 | 4,904,000 | $ 5,268,000 | $ 5,150,000 |
Net charge-offs | 123,000 | 997,000 | 130,000 | 1,014,000 | ||||
Provision for loan losses | 6,000 | $ 200,000 | 64,000 | 335,000 | ||||
Impaired Loans [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Carrying amount of loans | 676,000 | 676,000 | 3,900,000 | |||||
Remaining valuation allowance | $ 131,000 | 131,000 | $ 451,000 | |||||
Net charge-offs | 0 | 997,000 | ||||||
Provision for loan losses | $ 7,000 | $ 405,000 | ||||||
Minimum [Member] | Measurement Input, Discount Rates [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Discount rates | 0.10 | 0.10 | ||||||
Maximum [Member] | Measurement Input, Discount Rates [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Discount rates | 0.20 | 0.20 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Measured on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 93,029 | $ 105,472 |
Total liabilities at fair value | 343 | |
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 | 55,648 | 63,430 |
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 | 8,212 | 8,235 |
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 | 28,826 | 33,807 |
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 | 1,248 | 3,984 |
Impaired Loans [Member] | Residential Mortgages [Member] | 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 | 526 | 688 |
Impaired Loans [Member] | Commercial Loans [Member] | 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 | 62 | 845 |
Impaired Loans [Member] | Construction [Member] | 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 | 1,984 | |
Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | 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 | 88 | 7 |
Foreclosed Real Estate [Member] | 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 | 572 | 460 |
Derivatives – Interest Rate Contracts [Member] | Measured on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 343 | |
Total liabilities at fair value | 343 | |
Level 2 [Member] | Measured on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 93,029 | 105,472 |
Total liabilities at fair value | 343 | |
Level 2 [Member] | 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 | 55,648 | 63,430 |
Level 2 [Member] | 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 | 8,212 | 8,235 |
Level 2 [Member] | 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 | 28,826 | 33,807 |
Level 2 [Member] | Derivatives – Interest Rate Contracts [Member] | Measured on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 343 | |
Total liabilities at fair value | 343 | |
Level 3 [Member] | 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 | 1,248 | 3,984 |
Level 3 [Member] | Impaired Loans [Member] | Residential Mortgages [Member] | 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 | 526 | 688 |
Level 3 [Member] | Impaired Loans [Member] | Commercial Loans [Member] | 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 | 62 | 845 |
Level 3 [Member] | Impaired Loans [Member] | Construction [Member] | 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 | 1,984 | |
Level 3 [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | 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 | 88 | 7 |
Level 3 [Member] | Foreclosed Real Estate [Member] | 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 | $ 572 | $ 460 |
Fair Value of Financial Instr_5
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) $ in Thousands | Dec. 31, 2018USD ($) | Jun. 30, 2018USD ($) |
Minimum [Member] | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.10 | |
Maximum [Member] | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.20 | |
Measured on a Non-Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 1,248 | $ 3,984 |
Measured on a Non-Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 1,248 | 3,984 |
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] | ||
Fair Value | 526 | 688 |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Residential [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 526 | 688 |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Residential [Member] | Level 3 [Member] | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 526 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Residential [Member] | Level 3 [Member] | Sales Comparison | Adjustments for Differences in Sales Comparables [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 688 | |
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] | ||
Fair Value | 1,984 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Construction [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 1,984 | |
Debt Securities, Available-for-sale, Valuation Technique [Extensible List] | pcsb:ValuationTechniqueSalesContractMember | |
Debt Securities, Available-for-sale, Measurement Input [Extensible List] | pcsb:MeasurementInputAdjustmentsForDifferencesInSalesComparablesMember | |
Range or Rate Used | 0.098 | |
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] | ||
Fair Value | 62 | $ 845 |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Commercial Loans [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 62 | 845 |
Debt Securities, Available-for-sale, Valuation Technique [Extensible List] | us-gaap:ValuationTechniqueDiscountedCashFlowMember | |
Debt Securities, Available-for-sale, Measurement Input [Extensible List] | us-gaap:MeasurementInputDiscountRateMember | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Commercial Loans [Member] | Level 3 [Member] | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 845 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Commercial Loans [Member] | Level 3 [Member] | Sales Contract [Member] | Discount To Sales Contract [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.098 | |
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] | ||
Fair Value | $ 88 | $ 7 |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 88 | $ 7 |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 88 | |
Range or Rate Used | 0.063 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | Valuation Technique, Discounted Cash Flow | Discount To Sales Contract [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.063 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | Sales Comparison | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 7 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Minimum [Member] | Residential [Member] | Level 3 [Member] | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.054 | 0.054 |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Minimum [Member] | Residential [Member] | Level 3 [Member] | Sales Contract [Member] | Discount To Sales Contract [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | (0.243) | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Minimum [Member] | Residential [Member] | Level 3 [Member] | Sales Comparison | Adjustments for Differences in Sales Comparables [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | (0.051) | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Minimum [Member] | Commercial Loans [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.070 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Minimum [Member] | Commercial Loans [Member] | Level 3 [Member] | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.053 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Minimum [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | Sales Contract [Member] | Discount To Sales Contract [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | (0.243) | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Minimum [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | Sales Comparison | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | (0.051) | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Maximum [Member] | Residential [Member] | Level 3 [Member] | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.063 | 0.063 |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Maximum [Member] | Residential [Member] | Level 3 [Member] | Sales Contract [Member] | Discount To Sales Contract [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.103 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Maximum [Member] | Residential [Member] | Level 3 [Member] | Sales Comparison | Adjustments for Differences in Sales Comparables [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.209 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Maximum [Member] | Commercial Loans [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.075 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Maximum [Member] | Commercial Loans [Member] | Level 3 [Member] | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.075 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Maximum [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | Sales Contract [Member] | Discount To Sales Contract [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.103 | |
Measured on a Non-Recurring Basis [Member] | Impaired Loans [Member] | Maximum [Member] | Home Equity Lines Of Credit [Member] | Level 3 [Member] | Sales Comparison | Measurement Input, Discount Rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.209 | |
Measured on a Non-Recurring Basis [Member] | Foreclosed Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 572 | $ 460 |
Measured on a Non-Recurring Basis [Member] | Foreclosed Real Estate [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 572 | $ 460 |
Debt Securities, Available-for-sale, Valuation Technique [Extensible List] | pcsb:ValuationTechniqueSalesComparisonMember | pcsb:ValuationTechniqueSalesComparisonMember |
Debt Securities, Available-for-sale, Measurement Input [Extensible List] | us-gaap:MeasurementInputComparabilityAdjustmentMember | us-gaap:MeasurementInputComparabilityAdjustmentMember |
Measured on a Non-Recurring Basis [Member] | Foreclosed Real Estate [Member] | Minimum [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | (0.250) | (0.081) |
Measured on a Non-Recurring Basis [Member] | Foreclosed Real Estate [Member] | Maximum [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range or Rate Used | 0.450 | (0.004) |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments - Summary of Carrying Amounts and Estimated Fair Values of Bank's Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Financial assets: | ||
Investment securities held to maturity | $ 351,701 | $ 343,188 |
Investment securities available for sale | 92,686 | 105,472 |
Carrying Amount [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 143,119 | 62,145 |
Investment securities held to maturity | 359,777 | 353,183 |
Investment securities available for sale | 92,686 | 105,472 |
Loans receivable, net | 904,377 | 902,336 |
Accrued interest receivable | 4,457 | 4,358 |
Federal Home Loan Bank stock | 2,385 | 2,050 |
Financial liabilities: | ||
Mortgage escrow funds | 9,085 | 8,803 |
FHLB advances | 26,279 | 18,841 |
Carrying Amount [Member] | Derivatives – Interest Rate Contracts [Member] | ||
Financial assets: | ||
Derivative assets - interest rate contracts | 343 | |
Financial liabilities: | ||
Derivative liabilities - interest rate contracts | 343 | |
Carrying Amount [Member] | Demand, NOW, Money Market Deposits and Savings Accounts [Member] | ||
Financial liabilities: | ||
Time deposits | 803,970 | 765,084 |
Carrying Amount [Member] | Time Deposits [Member] | ||
Financial liabilities: | ||
Time deposits | 421,354 | 392,373 |
Total [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 143,119 | 62,145 |
Investment securities held to maturity | 351,701 | 343,188 |
Investment securities available for sale | 92,686 | 105,472 |
Loans receivable, net | 884,574 | 882,319 |
Accrued interest receivable | 4,457 | 4,358 |
Financial liabilities: | ||
Mortgage escrow funds | 9,085 | 8,803 |
FHLB advances | 26,299 | 20,574 |
Total [Member] | Derivatives – Interest Rate Contracts [Member] | ||
Financial assets: | ||
Derivative assets - interest rate contracts | 343 | |
Financial liabilities: | ||
Derivative liabilities - interest rate contracts | 343 | |
Total [Member] | Demand, NOW, Money Market Deposits and Savings Accounts [Member] | ||
Financial liabilities: | ||
Time deposits | 803,970 | 765,084 |
Total [Member] | Time Deposits [Member] | ||
Financial liabilities: | ||
Time deposits | 424,037 | 394,205 |
Level 1 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 143,119 | 62,145 |
Financial liabilities: | ||
Mortgage escrow funds | 9,085 | 8,803 |
Level 1 [Member] | Demand, NOW, Money Market Deposits and Savings Accounts [Member] | ||
Financial liabilities: | ||
Time deposits | 803,970 | 765,084 |
Level 2 [Member] | ||
Financial assets: | ||
Investment securities held to maturity | 351,701 | 343,188 |
Investment securities available for sale | 92,686 | 105,472 |
Accrued interest receivable | 1,366 | 1,402 |
Financial liabilities: | ||
FHLB advances | 26,299 | 20,574 |
Level 2 [Member] | Derivatives – Interest Rate Contracts [Member] | ||
Financial assets: | ||
Derivative assets - interest rate contracts | 343 | |
Financial liabilities: | ||
Derivative liabilities - interest rate contracts | 343 | |
Level 2 [Member] | Time Deposits [Member] | ||
Financial liabilities: | ||
Time deposits | 424,037 | 394,205 |
Level 3 [Member] | ||
Financial assets: | ||
Loans receivable, net | 884,574 | 882,319 |
Accrued interest receivable | $ 3,091 | $ 2,956 |
Regulatory Capital - Summary of
Regulatory Capital - 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 | Dec. 31, 2018 | Jun. 30, 2018 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Leverage (Tier 1), Bank Actual Amount | $ 287,991 | |
Common Tier 1, Bank Actual Amount | 287,991 | |
Tier 1, Bank Actual Amount | 287,991 | |
Total, Bank Actual Amount | $ 292,895 | |
Leverage (Tier 1), Bank Actual Ratio | 19.50% | |
Common Tier 1, Bank Actual Ratio | 30.30% | |
Tier 1, Bank Actual Ratio | 30.30% | |
Total, Bank Actual Ratio | 30.80% | |
Leverage (Tier 1), For Capital Adequacy Purposes Amount | $ 58,948 | |
Common Tier 1, For Capital Adequacy Purposes Amount | 42,783 | |
Tier 1, For Capital Adequacy Purposes Amount | 57,044 | |
Total, For Capital Adequacy Purposes Amount | $ 76,058 | |
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 Capital Adequacy Purposes Ratio | 8.00% | |
PCSB Bank [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Leverage (Tier 1), Bank Actual Amount | $ 205,731 | $ 200,488 |
Common Tier 1, Bank Actual Amount | 205,731 | 200,488 |
Tier 1, Bank Actual Amount | 205,731 | 200,488 |
Total, Bank Actual Amount | $ 210,674 | $ 205,392 |
Leverage (Tier 1), Bank Actual Ratio | 13.80% | 13.60% |
Common Tier 1, Bank Actual Ratio | 20.70% | 21.10% |
Tier 1, Bank Actual Ratio | 20.70% | 21.10% |
Total, Bank Actual Ratio | 21.20% | 21.60% |
Leverage (Tier 1), For Capital Adequacy Purposes Amount | $ 59,702 | $ 58,924 |
Common Tier 1, For Capital Adequacy Purposes Amount | 44,406 | 42,745 |
Tier 1, For Capital Adequacy Purposes Amount | 59,208 | 56,994 |
Total, For Capital Adequacy Purposes Amount | $ 78,973 | $ 75,991 |
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 Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Leverage (Tier 1), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 74,628 | $ 73,655 |
Common Tier 1, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 64,141 | 61,743 |
Tier 1, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 78,943 | 75,991 |
Total, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 98,679 | $ 94,989 |
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 Capital - Additional
Regulatory Capital - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Dec. 31, 2018 | Jun. 30, 2018 | |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital conservation buffer, phase period | 4 years | |
Capital conservation buffer percentage at beginning period | 1.875% | 1.25% |
Total consolidated assets | $ 3,000,000,000 | |
Minimum [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital conservation buffer percentage required under regulatory | 2.50% |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | ||||
Net income applicable to common stock | $ 2,324 | $ 2 | $ 4,653 | $ 1,758 |
Average number of common shares outstanding | 18,124,242 | 18,165,110 | 18,144,676 | 18,165,110 |
Less: Average unallocated ESOP shares | (1,271,524) | (1,373,805) | (1,283,734) | (1,391,227) |
Average number of common shares outstanding used to calculate basic earnings per common share | 16,852,718 | 16,791,305 | 16,860,942 | 16,773,883 |
Effect of equity-based awards | 15,746 | 7,873 | ||
Average number of common shares outstanding used to calculate diluted earnings per common share | 16,868,464 | 16,791,305 | 16,868,815 | 16,773,883 |
Earnings per common share: | ||||
Basic | $ 0.14 | $ 0.28 | $ 0.10 | |
Diluted | $ 0.14 | $ 0.28 | $ 0.10 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Number of dilutive potential common stock equivalents | 0 | 0 | ||
Stock Options [Member] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 1,339,293 | 1,339,293 |
Derivatives and Hedging - Addit
Derivatives and Hedging - Additional Information (Detail) | Jun. 30, 2018USD ($) |
Interest Rate Swap [Member] | |
Derivative [Line Items] | |
Interest rate swaps | $ 0 |
Derivatives and Hedging - Summa
Derivatives and Hedging - Summary Information About Interest Rate Swaps (Detail) | 6 Months Ended |
Dec. 31, 2018USD ($) | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Notional amounts | $ 16,648,000 |
Weighted average pay rates | 4.40% |
Weighted average receive rates | 4.40% |
Weighted average maturity | 9 years 9 months 29 days |
Revenue From Contracts With C_2
Revenue From Contracts With Customers - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation Of Revenue [Line Items] | ||||
Fees and service charges | $ 457,000 | $ 412,000 | $ 875,000 | $ 793,000 |
Revenue from contracts with customers | 424,000 | 309,000 | 816,000 | 600,000 |
Fees and Service Charges on Deposit Accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue from contracts with customers | 310,000 | 211,000 | 597,000 | 407,000 |
Interchange Income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue from contracts with customers | 114,000 | 98,000 | 219,000 | 193,000 |
Gain/Losses on Sales of Foreclosed Real Estate [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 14,000 | $ 14,000 | $ 24,000 | $ 24,000 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) | Nov. 14, 2018 | Oct. 24, 2018 | Dec. 31, 2018 | Dec. 31, 2018 |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Number of stock options granted | 1,339,293 | |||
Number of other than stock options granted | 547,185 | |||
Stock-based compensation | $ 482,000 | |||
Stock Options [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Unrecognized compensation cost | $ 6,000,000 | $ 6,000,000 | ||
Expected weighted-average period for cost recognition | 4 years 10 months 24 days | |||
Restricted Stock Awards [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Unrecognized compensation cost | 9,800,000 | $ 9,800,000 | ||
Expected weighted-average period for cost recognition | 4 years 10 months 24 days | |||
2018 Equity Incentive Plan [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Number of shares authorized for issuance | 2,543,115 | |||
Stock-based compensation | $ 482,000 | $ 482,000 | ||
2018 Equity Incentive Plan [Member] | Stock Options [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Number of shares authorized for issuance | 1,816,511 | |||
Number of additional stock options or time based restricted stock awards authorized | 908,254 | |||
Vesting period | 5 years | |||
Contractual term | 10 years | |||
2018 Equity Incentive Plan [Member] | Stock Options [Member] | Annual Vesting on Each Anniversary [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Awards vesting percentage for year | 20.00% | |||
2018 Equity Incentive Plan [Member] | Stock Options [Member] | Maximum [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Vesting period | 5 years | |||
2018 Equity Incentive Plan [Member] | Stock Options [Member] | Minimum [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
2018 Equity Incentive Plan [Member] | Stock Options [Member] | Non-Employee Directors [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Number of stock options granted | 431,039 | |||
2018 Equity Incentive Plan [Member] | Restricted Stock and Restricted Stock Units [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Number of shares authorized for issuance | 726,604 | |||
2018 Equity Incentive Plan [Member] | Restricted Stock Awards [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Number of other than stock options granted | 547,185 | |||
Number of additional stock options or time based restricted stock awards authorized | 363,301 | |||
Vesting period | 5 years | |||
Number of shares available for grant | 726,604 | 726,604 | ||
2018 Equity Incentive Plan [Member] | Restricted Stock Awards [Member] | Annual Vesting on Each Anniversary [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Awards vesting percentage for year | 20.00% | |||
2018 Equity Incentive Plan [Member] | Restricted Stock Awards [Member] | Maximum [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Vesting period | 5 years | |||
2018 Equity Incentive Plan [Member] | Restricted Stock Awards [Member] | Minimum [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
2018 Equity Incentive Plan [Member] | Restricted Stock Awards [Member] | Non-Employee Directors [Member] | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Number of other than stock options granted | 183,884 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of RSA activity (Detail) | 6 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Number of Shares, granted | shares | 547,185 |
Number of Shares, Unvested allocated shares outstanding ending balance | shares | 547,185 |
Weighted-Average Grant Date Fair Value, Shares granted | $ / shares | $ 19.02 |
Weighted-Average Grant Date Fair Value, Unvested allocated shares outstanding ending balance | $ / shares | $ 19.02 |
Stock-Based Compensation - Fair
Stock-Based Compensation - Fair Value of Option Granted Using Weighted-Average Assumptions (Detail) | 6 Months Ended |
Dec. 31, 2018$ / shares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Risk-free interest rate | 3.03% |
Expected term | 6 years 6 months |
Expected stock price volatility | 18.26% |
Dividend yield | 0.63% |
Weighted average fair value of options granted | $ 4.61 |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Activity Related to Stock Option Granted under Stock Option Plan (Detail) $ / shares in Units, $ in Thousands | 6 Months Ended |
Dec. 31, 2018USD ($)$ / sharesshares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Number of Options, granted | shares | 1,339,293 |
Number of Options, outstanding ending balance | shares | 1,339,293 |
Number of Option, Fully vested and expected to vest | shares | 1,339,293 |
Weighted-Average Exercise Price, Option granted | $ / shares | $ 19.04 |
Weighted-Average Exercise Price, Option outstanding ending balance | $ / shares | 19.04 |
Weighted-Average Exercise Price, Fully vested and expected to vest | $ / shares | $ 19.04 |
Weighted-Average Remaining Contractual Years, Option outstanding | 9 years 10 months 24 days |
Weighted-Average Remaining Contractual Years, Fully vested and expected to vest | 9 years 10 months 24 days |
Aggregate Intrinsic Value, Option outstanding | $ | $ 701 |
Aggregate Intrinsic Value, Fully vested and expected to vest | $ | $ 701 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - $ / shares | Feb. 08, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Subsequent Event [Line Items] | |||
Treasury Stock, Shares | 222,070 | 0 | |
Common Stock [Member] | |||
Subsequent Event [Line Items] | |||
Number of shares repurchased | 222,070 | ||
Common Stock [Member] | Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Number of shares repurchased | 686,186 | ||
Average cost per share | $ 20.36 | ||
Treasury Stock, Shares | 908,256 | ||
Total shares repurchased, average cost per share | $ 20.15 |