Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 31, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | UCFC | |
Entity Registrant Name | UNITED COMMUNITY FINANCIAL CORP | |
Entity Central Index Key | 0000707886 | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity File Number | 000-024399 | |
Entity Tax Identification Number | 341856319 | |
Entity Address, Address Line One | 275 West Federal Street | |
Entity Address, City or Town | Youngstown | |
Entity Address, State or Province | Ohio | |
Entity Address, Postal Zip Code | 44503-1203 | |
City Area Code | 330 | |
Local Phone Number | 742-0500 | |
Entity Common Stock, Shares Outstanding | 48,085,839 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets: | ||
Cash and deposits with banks | $ 27,507 | $ 34,380 |
Federal funds sold | 27,055 | 26,605 |
Total cash and cash equivalents | 54,562 | 60,985 |
Securities: | ||
Trading | 705 | 364 |
Available for sale | 319,009 | 241,643 |
Held to maturity, (fair value of $0 and $75,075, respectively) | 77,491 | |
Loans held for sale, at fair value | 97,477 | 91,472 |
Gross loans | 2,249,808 | 2,197,285 |
Allowance for loan losses | (20,482) | (20,443) |
Loans, net | 2,229,326 | 2,176,842 |
Federal Home Loan Bank stock, at cost | 14,059 | 19,144 |
Premises and equipment, net | 22,130 | 21,930 |
Accrued interest receivable | 9,184 | 9,080 |
Real estate owned and other repossessed assets, net | 955 | 1,088 |
Goodwill | 20,221 | 20,221 |
Cash surrender value of life insurance | 65,002 | 64,220 |
Other assets | 32,924 | 23,060 |
Total assets | 2,869,116 | 2,811,357 |
Deposits: | ||
Non-interest bearing | 398,340 | 394,208 |
Interest bearing | ||
Customer deposits | 1,672,764 | 1,528,057 |
Brokered deposits | 188,075 | 290,955 |
Total interest bearing deposits | 1,860,839 | 1,819,012 |
Total deposits | 2,259,179 | 2,213,220 |
Borrowed funds: | ||
Short-term Federal Home Loan Bank advances | 233,000 | 243,000 |
Repurchase agreements and other | 146 | 224 |
Total borrowed funds | 233,146 | 243,224 |
Advance payments by borrowers for taxes and insurance | 25,335 | 27,192 |
Accrued interest payable | 1,378 | 1,279 |
Accrued expenses and other liabilities | 32,524 | 17,108 |
Total liabilities | 2,551,562 | 2,502,023 |
Shareholders' Equity: | ||
Preferred stock-no par value; 1,000,000 shares authorized and no shares issued or outstanding | ||
Common stock-no par value; 499,000,000 shares authorized; 54,138,910 shares issued and 48,068,790 and 49,128,875 shares, respectively, outstanding | 177,319 | 177,492 |
Retained earnings | 204,355 | 192,062 |
Accumulated other comprehensive loss | (15,180) | (21,436) |
Treasury stock, at cost, 6,070,120 and 5,010,035 shares, respectively | (48,940) | (38,784) |
Total shareholders’ equity | 317,554 | 309,334 |
Total liabilities and shareholders’ equity | 2,869,116 | 2,811,357 |
Customer list intangible [Member] | ||
Securities: | ||
Intangible assets | 2,123 | 2,214 |
Core deposit intangibles [Member] | ||
Securities: | ||
Intangible assets | $ 1,439 | $ 1,603 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Statement Of Financial Position [Abstract] | ||
Held to maturity, Fair Value | $ 0 | $ 75,075 |
Preferred stock, par value | ||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | ||
Common stock, shares authorized | 499,000,000 | 499,000,000 |
Common stock, shares issued | 54,138,910 | 54,138,910 |
Common stock, shares outstanding | 48,068,790 | 49,128,875 |
Treasury stock, shares | 6,070,120 | 5,010,035 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest income | ||||
Loans | $ 26,373 | $ 23,275 | $ 52,229 | $ 46,034 |
Loans held for sale | 991 | 1,012 | 1,998 | 1,870 |
Securities available for sale, nontaxable | 236 | 356 | 544 | 744 |
Securities available for sale, taxable | 1,611 | 1,193 | 2,874 | 2,408 |
Securities held to maturity, nontaxable | 25 | 61 | 100 | 112 |
Securities held to maturity, taxable | 118 | 398 | 497 | 820 |
Federal Home Loan Bank stock dividends | 245 | 274 | 534 | 554 |
Other interest earning assets | 200 | 92 | 424 | 169 |
Total interest income | 29,799 | 26,661 | 59,200 | 52,711 |
Interest expense | ||||
Deposits | 7,197 | 3,790 | 13,771 | 6,887 |
Federal Home Loan Bank advances | 559 | 1,576 | 1,200 | 2,996 |
Total interest expense | 7,756 | 5,366 | 14,971 | 9,883 |
Net interest income | 22,043 | 21,295 | 44,229 | 42,828 |
Provision for loan losses | (51) | (138) | 10 | 269 |
Net interest income after provision for loan losses | 22,094 | 21,433 | 44,219 | 42,559 |
Non-interest income | ||||
Insurance agency income | 545 | 513 | 1,246 | 1,090 |
Brokerage income | 409 | 300 | 779 | 572 |
Mortgage servicing fees | 881 | 813 | 1,754 | 1,625 |
Mortgage servicing rights valuation | (996) | (20) | (1,495) | (11) |
Mortgage servicing rights amortization | (553) | (542) | (999) | (1,042) |
Net Gains (losses): | ||||
Trading securities, including change in fair value | 39 | 103 | ||
Securities available for sale (includes $148, $94, $292 and $233, respectively, accumulated other comprehensive income reclassifications for unrealized net gains on available for sale securities) | 148 | 94 | 292 | 233 |
Mortgage banking income | 2,631 | 1,205 | 4,307 | 2,563 |
Real estate owned and other repossessed assets, net | (33) | (113) | (64) | (191) |
Increase in cash surrender value of life insurance | 397 | 433 | 782 | 866 |
Other income | 83 | 66 | 140 | 107 |
Total non-interest income | 6,671 | 5,852 | 12,744 | 11,671 |
Non-interest expense | ||||
Salaries and employee benefits | 9,106 | 8,937 | 19,681 | 18,935 |
Occupancy | 1,028 | 950 | 2,074 | 2,050 |
Equipment and data processing | 2,208 | 2,372 | 4,501 | 4,526 |
Financial institutions tax | 509 | 495 | 1,018 | 991 |
Advertising | 465 | 290 | 854 | 525 |
Amortization of intangible assets | 127 | 132 | 255 | 245 |
FDIC insurance premiums | 297 | 288 | 628 | 578 |
Other insurance premiums | 76 | 109 | 151 | 218 |
Legal and consulting fees | 214 | 147 | 274 | 446 |
Other professional fees | 562 | 499 | 1,150 | 890 |
Supervisory fees | 34 | 42 | 68 | 84 |
Real estate owned and other repossessed asset expenses | 17 | 34 | 56 | 70 |
Other expenses | 1,333 | 1,235 | 2,940 | 2,572 |
Total non-interest expenses | 15,976 | 15,530 | 33,650 | 32,130 |
Income before income taxes | 12,789 | 11,755 | 23,313 | 22,100 |
Income tax expense (includes $31, $20, $61 and $49 income tax expense from reclassification items) | 2,303 | 2,214 | 4,171 | 4,003 |
Net income | 10,486 | 9,541 | 19,142 | 18,097 |
Other comprehensive (loss) income | ||||
Unrealized gain (loss) on securities, available for sale, net of reclassifications and tax of $724, $381, $1,518 and $1,449, respectively | 2,715 | (1,433) | 5,711 | (5,453) |
Unamortized unrealized losses on securities transferred from available for sale to held to maturity and then transferred back to available for sale | 512 | 512 | ||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, net of tax of $2, $8, $9 and $16, respectively | 9 | 31 | 33 | 61 |
Total other comprehensive income (loss) | 3,236 | (1,402) | 6,256 | (5,392) |
Comprehensive income | $ 13,722 | $ 8,139 | $ 25,398 | $ 12,705 |
Earnings per share | ||||
Basic | $ 0.22 | $ 0.19 | $ 0.39 | $ 0.36 |
Diluted | $ 0.22 | $ 0.19 | $ 0.39 | $ 0.36 |
Deposit Account [Member] | ||||
Non-interest income | ||||
Deposit related fees | $ 1,417 | $ 1,392 | $ 2,758 | $ 2,692 |
Financial Service, Other [Member] | ||||
Non-interest income | ||||
Deposit related fees | 21 | 61 | 59 | 99 |
Credit and Debit Card [Member] | ||||
Non-interest income | ||||
Deposit related fees | 1,221 | 1,177 | 2,156 | 2,126 |
Fiduciary and Trust [Member] | ||||
Non-interest income | ||||
Deposit related fees | $ 461 | $ 473 | $ 926 | $ 942 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income Statement [Abstract] | ||||
Accumulated other comprehensive income | $ 148 | $ 94 | $ 292 | $ 233 |
Income tax expense from reclassification items | 31 | 20 | 61 | 49 |
Unrealized (loss) gain on securities available for sale, net of reclassifications, tax | 724 | 381 | 1,518 | 1,449 |
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, tax | $ 2 | $ 8 | $ 9 | $ 16 |
CONDENSED CONSOLIDATED STATEM_5
CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2017 | $ 294,265 | $ 177,458 | $ 167,852 | $ (18,685) | $ (32,360) |
Balance, shares at Dec. 31, 2017 | 49,800,126 | ||||
Net income | 8,556 | 8,556 | |||
Other comprehensive income (loss) | (3,990) | (3,990) | |||
Stock option exercises, value | 229 | $ (284) | 513 | ||
Stock option exercises, shares | 68,801 | ||||
Stock option expense | 13 | $ 13 | |||
Restricted stock grants, value | $ (207) | 207 | |||
Restricted stock grants, shares | 27,702 | ||||
Restricted stock forfeitures, shares | (807) | ||||
Restricted stock expense | 242 | $ 248 | (6) | ||
Vesting of Long-term Incentive Plan, value | 344 | $ 69 | 275 | ||
Vesting of Long-term Incentive Plan, shares | 36,871 | ||||
Cash dividend payments | (2,989) | (2,989) | |||
Treasury stock purchases, value | (475) | (475) | |||
Treasury stock purchases, shares | (50,202) | ||||
Balance at Mar. 31, 2018 | 296,195 | $ 177,297 | 173,419 | (22,675) | (31,846) |
Balance, shares at Mar. 31, 2018 | 49,882,491 | ||||
Balance at Dec. 31, 2017 | 294,265 | $ 177,458 | 167,852 | (18,685) | (32,360) |
Balance, shares at Dec. 31, 2017 | 49,800,126 | ||||
Net income | 18,097 | ||||
Other comprehensive income (loss) | (5,392) | ||||
Balance at Jun. 30, 2018 | 301,484 | $ 177,311 | 179,965 | (24,077) | (31,715) |
Balance, shares at Jun. 30, 2018 | 49,904,074 | ||||
Balance at Mar. 31, 2018 | 296,195 | $ 177,297 | 173,419 | (22,675) | (31,846) |
Balance, shares at Mar. 31, 2018 | 49,882,491 | ||||
Net income | 9,541 | 9,541 | |||
Other comprehensive income (loss) | (1,402) | (1,402) | |||
Stock option exercises, value | 3 | $ (8) | 11 | ||
Stock option exercises, shares | 1,300 | ||||
Stock option expense | 19 | $ 19 | |||
Restricted stock grants, value | $ (226) | 226 | |||
Restricted stock grants, shares | 30,283 | ||||
Restricted stock expense | 229 | $ 229 | |||
Cash dividend payments | (2,995) | (2,995) | |||
Treasury stock purchases, value | (106) | (106) | |||
Treasury stock purchases, shares | (10,000) | ||||
Balance at Jun. 30, 2018 | 301,484 | $ 177,311 | 179,965 | (24,077) | (31,715) |
Balance, shares at Jun. 30, 2018 | 49,904,074 | ||||
Balance at Dec. 31, 2018 | 309,334 | $ 177,492 | 192,062 | (21,436) | (38,784) |
Balance, shares at Dec. 31, 2018 | 49,128,875 | ||||
Net income | 8,656 | 8,656 | |||
Other comprehensive income (loss) | 3,020 | 3,020 | |||
Stock option exercises, value | 70 | $ (187) | 257 | ||
Stock option exercises, shares | 33,000 | ||||
Stock option expense | 6 | $ 6 | |||
Restricted stock grants, value | $ (148) | 148 | |||
Restricted stock grants, shares | 18,969 | ||||
Restricted stock forfeitures, value | $ 6 | (6) | |||
Restricted stock forfeitures, shares | (834) | ||||
Restricted stock expense | 143 | $ 143 | |||
Vesting of Long-term Incentive Plan, value | 523 | $ 98 | 425 | ||
Vesting of Long-term Incentive Plan, shares | 54,463 | ||||
Cash dividend payments | (3,432) | (3,432) | |||
Treasury stock purchases, value | (3,611) | (3,611) | |||
Treasury stock purchases, shares | (381,785) | ||||
Balance at Mar. 31, 2019 | 314,709 | $ 177,410 | 197,286 | (18,416) | (41,571) |
Balance, shares at Mar. 31, 2019 | 48,852,688 | ||||
Balance at Dec. 31, 2018 | 309,334 | $ 177,492 | 192,062 | (21,436) | (38,784) |
Balance, shares at Dec. 31, 2018 | 49,128,875 | ||||
Net income | 19,142 | ||||
Other comprehensive income (loss) | $ 6,256 | ||||
Stock option exercises, shares | 59,600 | ||||
Balance at Jun. 30, 2019 | $ 317,554 | $ 177,319 | 204,355 | (15,180) | (48,940) |
Balance, shares at Jun. 30, 2019 | 48,068,790 | ||||
Balance at Mar. 31, 2019 | 314,709 | $ 177,410 | 197,286 | (18,416) | (41,571) |
Balance, shares at Mar. 31, 2019 | 48,852,688 | ||||
Net income | 10,486 | 10,486 | |||
Other comprehensive income (loss) | 3,236 | 3,236 | |||
Stock option exercises, value | 52 | $ (157) | 209 | ||
Stock option exercises, shares | 26,600 | ||||
Restricted stock grants, value | $ (90) | 90 | |||
Restricted stock grants, shares | 11,489 | ||||
Restricted stock expense | 156 | $ 156 | |||
Cash dividend payments | (3,417) | (3,417) | |||
Treasury stock purchases, value | (7,668) | (7,668) | |||
Treasury stock purchases, shares | (821,987) | ||||
Balance at Jun. 30, 2019 | $ 317,554 | $ 177,319 | $ 204,355 | $ (15,180) | $ (48,940) |
Balance, shares at Jun. 30, 2019 | 48,068,790 |
CONDENSED CONSOLIDATED STATEM_6
CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | |
Statement Of Stockholders Equity [Abstract] | ||||
Cash dividend payments, per share | $ 0.07 | $ 0.07 | $ 0.06 | $ 0.06 |
CONDENSED CONSOLIDATED STATEM_7
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash Flows from Operating Activities | ||
Net income | $ 19,142 | $ 18,097 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Provision for loan losses | 10 | 269 |
Mortgage banking income | (1,066) | (4,760) |
Changes in fair value on loans held for sale | (3,241) | 2,197 |
Net losses on real estate owned and other repossessed assets sold | 64 | 191 |
Net gain on available for sale securities sold | (292) | (233) |
Net gain on trading securities sold and change in fair value | (103) | |
Purchases of trading securities | (238) | |
Amortization of premiums and accretion of discounts | 3,886 | 2,781 |
Depreciation and amortization | 1,474 | 1,359 |
Net change in interest receivable | (104) | (264) |
Net change in interest payable | 99 | (133) |
Net change in prepaid and other assets | (11,076) | (3,545) |
Net change in other liabilities | 16,604 | 705 |
Stock based compensation | 305 | 503 |
Net principal disbursed on loans originated for sale | (151,061) | (165,861) |
Proceeds from sale of loans held for sale | 147,877 | 143,172 |
Cash used in payment of operating leases | (665) | |
Net change in right of use asset | (345) | |
Net change in deferred tax assets | (1,298) | 3,547 |
Net change in cash surrender value of life insurance | (782) | (866) |
Net cash from operating activities | 19,190 | (2,841) |
Cash Flows from Investing Activities | ||
Proceeds from the principal repayments and maturities of securities available for sale | 5,310 | 5,488 |
Proceeds from the principal repayments and maturities of securities held to maturity | 5,661 | 4,428 |
Proceeds from the sale of securities available for sale | 58,294 | 10,361 |
Proceeds from the sale of real estate owned and other repossessed assets | 722 | 674 |
Proceeds from the sale of loans held for investment | 650 | |
Proceeds from redemption of FHLB stock | 5,085 | |
Purchases of available for sale securities | (59,701) | |
Purchase of securities held to maturity | (2,000) | (3,000) |
Purchases of premises and equipment | (1,657) | (893) |
Principal disbursed on loans, net of repayments | (27,553) | (82,540) |
Loans purchased | (26,509) | (18,246) |
Net cash from investing activities | (41,698) | (83,728) |
Cash Flows from Financing Activities | ||
Net change in checking, savings and money market accounts | 121,642 | 79,339 |
Net change in certificates of deposit | (75,616) | 99,451 |
Net change in advance payments by borrowers for taxes and insurance | (1,857) | (5,785) |
Net change in short-term FHLB advances | (10,000) | (60,000) |
Net change in repurchase agreements and other borrowed funds | (78) | (6) |
Proceeds from the exercise of stock options | 122 | 232 |
Dividends paid | (6,849) | (5,984) |
Purchase of treasury stock | (11,279) | (581) |
Net cash from financing activities | 16,085 | 106,666 |
Change in cash and cash equivalents | (6,423) | 20,097 |
Cash and cash equivalents, beginning of period | 60,985 | 46,880 |
Cash and cash equivalents, end of period | $ 54,562 | $ 66,977 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | 1. BASIS OF PRESENTATION United Community Financial Corp. (United Community or the Company) was incorporated in the State of Ohio in February 1998 for the purpose of owning all of the outstanding capital stock of The Home Savings and Loan Company of Youngstown, Ohio (Home Savings and Loan) issued upon the conversion of Home Savings and Loan from a mutual savings association to a permanent capital stock savings association (Conversion). Upon consummation of the Conversion on July 8, 1998, United Community became the unitary thrift holding company for Home Savings and Loan. Immediately following United Community’s acquisition of Ohio Legacy Corp. (OLCB) on January 31, 2017, Home Savings and Loan was merged into Premier Bank & Trust, OLCB’s wholly-owned, state-chartered bank subsidiary (PB&T), and the surviving bank changed its name to Home Savings Bank. In connection with OLCB acquisition, United Community became a financial holding company, and Home Savings Bank, its wholly-owned bank subsidiary following the merger (Home Savings or the Bank), is now an Ohio bank. Home Savings conducts its business from its main office located in Youngstown, Ohio and 33 retail banking offices (32 in Ohio and one in Pennsylvania). On January 29, 2016, United Community acquired James & Sons Insurance. James & Sons Insurance was merged into HSB Insurance, LLC, a wholly-owned subsidiary of United Community. HSB Insurance, LLC d/b/a James & Sons Insurance is an insurance agency that offers a wide variety of insurance products for business and residential customers, which include auto, homeowners, life-health, commercial, surety bonds and aviation. On February 28, 2017, James & Sons Insurance acquired Eich Brothers Insurance. Eich Brothers Insurance is an insurance agency that offers insurance products for business and residential customers, which include auto, commercial, homeowners and life-health. On July 1, 2017, James & Sons Insurance acquired Stevens Insurance Agency, which offers insurance products for business and residential customers, including auto, commercial, homeowners and life-health. On July 1, 2018, James & Sons Insurance acquired Steinhauser Insurance Agency which offers property and casualty insurance. HSB Capital, LLC, a wholly-owned subsidiary of United Community, was formed by United Community during 2016 for the purpose of providing mezzanine funding for customers. Mezzanine loans are offered to customers in United Community’s market area and are expected to be repaid from the cash flow from the operations of the business. HSB Insurance, Inc., a wholly-owned subsidiary of the Company which was formed and began operations on June 1, 2017, is a Delaware-based captive insurance company which insures against certain risks unique to the operations of the Company and its subsidiaries and for which insurance may not be currently available or economically feasible in today's insurance marketplace. HSB Insurance, Inc. pools resources with several other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves. HSB Insurance, Inc. is subject to regulations of the State of Delaware and undergoes periodic examinations by the Delaware Division of Insurance. The accompanying consolidated financial statements of United Community have been prepared in accordance with instructions relating to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles (U.S. GAAP) for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments) that are, in the opinion of management, necessary for a fair statement of results for the interim periods. The results of operations for the three and six months ended June 30, 2019, are not necessarily indicative of the results to be expected for the year ending December 31, 2019. The consolidated financial statements and notes thereto should be read in conjunction with the audited financial statements and notes contained in United Community’s Form 10-K for the year ended December 31, 2018. The consolidated financial statements include the accounts of United Community and its subsidiaries, Home Savings, HSB Insurance, LLC, HSB Capital, LLC and HSB Insurance, Inc. All material inter-company transactions have been eliminated. Some items in the prior year financial statements were reclassified to conform to the current presentation. These reclassifications had no effect on prior year consolidated statements of operations or shareholders’ equity. |
RECENT ACCOUNTING DEVELOPMENTS
RECENT ACCOUNTING DEVELOPMENTS | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Changes And Error Corrections [Abstract] | |
RECENT ACCOUNTING DEVELOPMENTS | 2. RECENT ACCOUNTING DEVELOPMENTS In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) Codification Improvements to Topic 842, Leases, Leases (Topic 842): Targeted Improvements Leases (Topic 842): Narrow – Scope Improvements for Lessors. In June 2016, the FASB Issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 Codification Improvements to Topic 326, Financial Instruments – Credit Losses. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In March 2017, the FASB issued Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. In July 2017, the FASB ASU No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815) : (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. ASU 2017-11 simplifies the accounting for certain financial instruments with down round features, a provision in an equity-linked financial instrument (or embedded feature) that provides a downward adjustment of the current exercise price based on the price of future equity offerings. The new ASU will require companies to disregard the down round feature when assessing whether the instrument is indexed to its own stock, for purposes of determining liability or equity classification. Companies that provide earnings per share (EPS) data will adjust their basic EPS calculation for the effect of the feature when triggered (i.e., when the exercise price of the related equity-linked financial instrument is adjusted downward because of the down round feature) and will also recognize the effect of the trigger within equity. The provisions of the new ASU related to down rounds are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted for all entities. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Compensation—Stock Compensation Equity—Equity-Based Payments to Non-Employees. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. |
STOCK COMPENSATION
STOCK COMPENSATION | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
STOCK COMPENSATION | 3. STOCK COMPENSATION Stock Options: On April 30, 2015, shareholders approved the United Community Financial Corp. 2015 Long-Term Incentive Compensation Plan (the 2015 Plan). The purpose of the 2015 Plan is to provide a means through which United Community may attract and retain employees and non-employee directors, to provide incentives that align their interest with those of United Community’s shareholders and promote the success of United Community’s business. All employees and non-employee directors are eligible to participate in the 2015 Plan. The 2015 Plan provides for the issuance of up to 1,200,000 shares that are to be used for awards of stock options, stock awards, stock units, stock appreciation rights (SARs), annual bonus awards and long-term incentive awards. On April 26, 2007, shareholders approved the United Community Financial Corp. 2007 Long-Term Incentive Plan (as amended, the 2007 Plan). The purpose of the 2007 Plan was to promote and advance the interests of United Community and its shareholders by enabling United Community to attract, retain and reward directors, directors emeritus, managerial and other key employees of United Community, including Home Savings, by facilitating their purchase of an ownership interest in United Community. The 2007 Plan was terminated on April 30, 2015 upon the adoption of the 2015 Plan, although the 2007 Plan survives with respect to awards issued under the 2007 Plan that remain outstanding and exercisable. The 2007 Plan provided for the issuance of up to 2,000,000 shares that were to be used for awards of restricted stock, stock options, performance awards, SARs, or other forms of stock-based incentive awards. Because the 2007 Plan terminated, no additional awards may be made under it. On July 12, 1999, shareholders approved the United Community Financial Corp. 1999 Long-Term Incentive Plan (as amended, the 1999 Plan). The purpose of the 1999 Plan was the same as the 2007 Plan. The 1999 Plan terminated on May 20, 2009, although the 1999 Plan survives with respect to options issued under the 1999 Plan that remain outstanding and exercisable. The 1999 Plan provided for the grant of either incentive or nonqualified stock options. Options were awarded at exercise prices that were not less than the fair market value of the share at the grant date. The maximum number of common shares that could be issued under the 1999 Plan was 3,569,766. Because the 1999 Plan terminated, no additional options may be issued under it. There were no stock options granted under the 2015 Plan in the three or six months ended June 30, 2019 and zero and 50,000 options granted in the three and six months ended June 30, 2018. Pursuant to the terms of the 2015 Plan, any options granted must be exercised within 10 years from the date of grant. Expenses related to prior stock option grants are included with salaries and employee benefits. The Company recognized $- and $6,000 in stock option expense for the three and six months ended June 30, 2019, respectively. The Company recognized $19,000 and $32,000 in stock option expense for the three and six months ended June 30, 2018, respectively. The Company expects to recognize no additional stock option expense for the remainder of 2019. A summary of option activity for the six months ended June 30, 2019 in the 2015 Plan, the 2007 Plan and the 1999 Plan is as follows: For the six months ended June 30, 2019 Weighted Aggregate average intrinsic value Shares exercise price (in thousands) Outstanding at beginning of year 223,432 $ 3.93 Granted — — Exercised (59,600 ) 2.03 Forfeited and expired — — Outstanding at end of period 163,832 4.63 $ 815 Shares subject to options exercisable at end of period 163,832 4.63 $ 815 Information related to stock options for the six months ended June 30, 2019 and 2018 follows: June 30, 2019 June 30, 2018 Intrinsic value of options exercised $ 438,540 $ 450,486 Cash received from option exercises 122,000 232,000 Tax benefit realized from option exercises 15,565 67,298 Weighted average fair value of options granted, per share $ — $ 1.54 Information related to stock options granted during the six months ended June 30, 2018 were as follows: Six Months Ended June 30, 2018 Risk-free interest rate 2.69 % Expected term (years) 5 Expected stock volatility 19.86 % Dividend yield 2.48 % As of June 30, 2019, there were no nonvested stock options outstanding. Outstanding stock options at June 30, 2019 have a weighted average remaining life of 4.04 years and may be exercised in the range of $1.20 to $9.66 per share. Restricted Stock Awards: The 2007 Plan permitted and the 2015 Plan permits the issuance of restricted stock awards to eligible employees and nonemployee directors. Nonvested shares at June 30, 2019 aggregated 123,378, of which 21,953 are expected to vest during the remainder of 2019, 35,233 in 2020, 58,834 in 2021 and 7,358 in 2022. Expense related to restricted stock awards is charged to salaries and employee benefits and is recognized over the vesting period of the awards based on the fair value of the shares at the grant date. The Company recognized approximately $156,000 and $299,000 in restricted stock award expense for the three and six months ended June 30, 2019. The Company recognized approximately $229,000 and $471,000 in restricted stock award expense for the three and six months ended June 30, 2018. The Company expects to recognize additional expenses related to restricted stock awards of approximately $261,000 in 2019, $321,000 in 2020, $153,000 in 2021 and $43,000 in 2022. The total average per share fair value of shares vested during the three and six months ended June 30, 2019 was $9.36 and $9.62. A summary of changes in the Company’s nonvested restricted shares for the six months ended June 30, 2019 is as follows: For the six months ended June 30, 2019 Weighted average grant date Shares fair value Nonvested at beginning of year 210,713 $ 8.15 Granted 30,458 $ 9.42 Vested (116,959 ) $ 6.92 Forfeited (834 ) $ 9.10 Nonvested shares at end of period 123,378 $ 9.63 Annual Incentive Plan The Annual Incentive Plan (AIP) provides incentive compensation awards to certain officers of the Company. Annual incentive awards are generally based upon the actual performance of the Company and individual participant performance for the twelve months ending December 31, compared to the actual performance of a peer group during the same twelve-month period. The target incentive awards for each year are measured as a percentage of the base salary of participating officers. Once the awards under the AIP are calculated, they are paid in cash and/or restricted stock. The restricted stock vests equally over three years, beginning on the first anniversary of the date the restricted stock is issued. The Company incurred $44,000 and $70,000 in expense for the restricted stock portion of the AIP for the three and six months ended June 30, 2019 and $217,000 and $917,000 for the cash portion of the AIP for the three and six months ended June 30, 2019. The Company incurred $95,000 and $190,000 in expense for the restricted stock portion of the AIP for the three and six months ended June 30, 2018 and $426,000 and $871,000 for the cash portion of the AIP for the six months ended June 30, 2018, respectively. Long-term Incentive Plan The Long-term Incentive Plan (LTIP) provides a long-term incentive compensation opportunity to certain executive officers, whose participation and target award opportunities will be approved by the Compensation Committee of the Board of Directors. Each participant in the LTIP will be granted a target number of Performance Share Units (PSUs). Target PSUs will be determined as a percentage of base salary and translated into share units based on the Company’s average stock price at the appropriate measurement date. The performance period for the annual grant for a given year will be from January 1, year 1 through December 31, year 3. The Company incurred $184,000and $366,000 for the LTIP for the three and six months ended June 30, 2019. The Company incurred $212,000 and $381,000 in expense for the LTIP for the three and six months ended June 30, 2018. |
REVENUE RECOGNITION
REVENUE RECOGNITION | 6 Months Ended |
Jun. 30, 2019 | |
Revenue From Contract With Customer [Abstract] | |
REVENUE RECOGNITION | 4. REVENUE RECOGNITION The Company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this result, the following five steps are applied: Step 1: Identify the contract(s) with the customer Step 2: Identify the performance obligation(s) in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The revenue guidance applies to all contracts with customers to provide goods or services in the ordinary course of business, except for loans and securities, which are specifically excluded from the scope. Because loans and securities are outside the scope of the revenue standard, the Company does not use the new standard to account for gains and losses on its investments in securities, loans and derivatives. The Company also does not use the standard to account for interest and dividend income on financial instruments owned or those included in the Company’s lending activities. Home Savings’ servicing of loans sold to investors requires Home Savings to provide specific administrative functions for the owner(s) of these assets. These administrative functions include collecting cash flows from borrowers and remitting them to beneficial interest holders, monitoring delinquencies and executing foreclosures. Servicing rights that relate to transferred financial assets meet the conditions for sale accounting under ASC 860. ASC 860 requires the recognition of a servicing asset or liability when the benefits of servicing obtained from the contract are respectively greater than or less than adequate compensation (as defined in ASC 860) for performing the servicing. While ASC 860 provides initial recognition and subsequent measurement guidance for recognized servicing assets and liabilities, it does not include any explicit guidance for recognizing contractually specified servicing fees when servicing income is equal to adequate compensation. Therefore, income from servicing financial assets in the scope of ASC 860 is not in the scope of ASC 606, regardless of whether a servicing asset or liability exists. ASC 606 contains an exception to its scope for contracts that fall under ASC 860. Deposit-related fees and charges are in the scope of ASC 606, even though ASC 405 is listed as an exception to the scope of the standard. That is because ASC 405, which the Company applies to determine the appropriate liability accounting for customer deposits, does not provide a model for recognizing fees related to customer deposits (e.g., automated teller machine fees, nonsufficient funds fees, account maintenance or dormancy fees). When reviewing standard customer agreements, fees are charged as the service is rendered and therefore revenue is recognized at the time the transaction is executed as it is the point when the performance obligation has been met. The Company records real estate owned and other repossessed assets (OREO) at fair value less costs to sell upon foreclosure. The objective is to sell OREO within a short period of time because of regulatory and capital requirements. After foreclosure, these assets are carried at the lower of their carrying amount or their fair value less selling costs, so significant gains and losses are uncommon upon sale. OREO is often sold in a transaction that, under the standard, may not be considered a contract with a customer because the sale of the asset is not an output of the entity’s ordinary activities. However, sales of nonfinancial assets, including in substance nonfinancial assets, should be accounted for using new guidance in ASC 610-20, Other Income — Gains and Losses from the Derecognition of Nonfinancial Assets, which requires entities to apply certain measurement and recognition concepts of ASC 606. Accordingly, the Company recognizes the sale of a real estate property, along with any associated gain or loss, when control of the property transfers to the buyer. For sales of existing real estate properties, this generally will occur at a point in time. Insurance agency income is within the scope of ASC 606. The majority (75%) of the Company’s insurance agency income is derived from direct-bill customers. With this arrangement, the customer is billed directly from the insurance carrier. As a result, the insurance carrier pays a commission to the Company upon completion of the required documentation (policy application or renewal) and recognizes income at that time. Agency-billed customers account for approximately 25% of the overall insurance agency income. Premiums are collected from customers and remitted to the insurance carrier, net of commission, within a short period of time. At the time the premiums are remitted to the insurance carrier, all work is completed and revenue recognized at that time. Debit card fee income is earned as a result of standard interchange fees contractually obligated by VISA to be paid. Fees are received when they are essentially earned, which include fees charged to a reseller for the presentment of credit/debit cards in a point-of-sale (POS) transaction (interchange). The service is considered complete upon payment in a POS transaction, when the interchange fee is earned and paid. Credit card fees are paid when earned as a result of an agreement between the Company and a third-party provider. Trust fee income is calculated based on assets under management. Fees are recognized at the end of the month to which the service has been provided for customers billed monthly. This amounts to approximately 85% of trust fee income recognized, which is collected within a short period of time after the fee is assessed to the customer. Quarterly and annual fees are accrued and collected based on the contractual agreements with customers. Fees are assessed to these customers and paid at the end of each quarter. Quarterly and annual fees are to be recognized over the period when the fees are earned, regardless of when they are assessed to the customer. Brokerage revenue is recognized each month as sales occur. Brokerage revenue is paid from sales to customers by a third-party. In a manner similar to that of insurance agency revenue, income is paid directly to the Bank by the third-party once the sale to the customer is complete. |
SECURITIES
SECURITIES | 6 Months Ended |
Jun. 30, 2019 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES | 5. SECURITIES Components of the available for sale portfolio are as follows: June 30, 2019 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and agency securities $ 64,337 $ 1,453 $ 65,790 States and municipalities 35,085 940 36,025 Corporate debt securities 13,204 159 (3 ) 13,360 Collateralized mortgage obligations (CMO) 54,773 1,356 (22 ) 56,107 Mortgage-backed securities (MBS) 149,168 265 (1,706 ) 147,727 Total $ 316,567 $ 4,173 $ (1,731 ) $ 319,009 December 31, 2018 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and agency securities $ 97,785 $ — $ (2,204 ) $ 95,581 States and municipalities 48,167 107 (528 ) 47,746 Corporate debt securities 2,000 4 — 2,004 Collateralized mortgage obligations (CMO) 21,979 143 (14 ) 22,108 Mortgage-backed securities (MBS) 76,495 23 (2,314 ) 74,204 Total $ 246,426 $ 277 $ (5,060 ) $ 241,643 During the second quarter of 2019, the Company elected to transfer it’s held to maturity securities portfolio to the available for sale portfolio. At the time of transfer, the securities had an amortized cost of $74.6 million and a fair value of $72.5 million. Due to the continued decline in interest rates, the Company elected to move the securities into available for sale to provide more opportunities to reposition the portfolio. Components of the held to maturity securities portfolio at December 31, 2018 are as follows: December 31, 2018 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed securities (MBS) $ 64,442 $ — $ (2,327 ) $ 62,115 States and municipalities 13,049 20 (109 ) 12,960 Total $ 77,491 $ 20 $ (2,436 ) $ 75,075 Debt securities available for sale by contractual maturity, repricing or expected call date are shown below: June 30, 2019 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ 2,000 $ 2,021 Due after one year through five years 19,010 19,349 Due after five years through ten years 60,026 61,309 Due after ten years 31,590 32,496 MBS and CMO 203,941 203,834 Total $ 316,567 $ 319,009 Securities pledged for public funds were approximately $160.1 million at June 30, 2019 and approximately $108.7 million at December 31, 2018. Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at June 30, 2019 are as follows: June 30, 2019 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and agency securities $ — $ — $ — $ — $ — $ — States and municipalities — — — — — — Corporate debt securities 503 (3 ) — — 503 (3 ) Collateralized mortgage obligations (CMO) 7,803 (22 ) — — 7,803 (22 ) Mortgage-backed securities (MBS) — — 108,254 (1,706 ) 108,254 (1,706 ) Total temporarily impaired securities $ 8,306 $ (25 ) $ 108,254 $ (1,706 ) $ 116,560 $ (1,731 ) Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at December 31, 2018 are as follows: December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and agency securities $ — $ — $ 95,581 $ (2,204 ) $ 95,581 $ (2,204 ) States and municipalities 9,475 (39 ) 24,850 (489 ) 34,325 (528 ) Collateralized mortgage obligations (CMO) 5,475 (14 ) — — 5,475 (14 ) Mortgage-backed securities (MBS) — — 73,542 (2,314 ) 73,542 (2,314 ) Total temporarily impaired securities $ 14,950 $ (53 ) $ 193,973 $ (5,007 ) $ 208,923 $ (5,060 ) June 30, 2019six months ended June 30, 2019 Securities held to maturity that have been in an unrecognized loss position for less than twelve months or twelve months or more are as follows: December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: Mortgage-backed securities (MBS) $ — $ — $ 62,115 $ (3,203 ) $ 62,115 $ (3,203 ) States and municipalities 4,253 (48 ) 3,525 (69 ) 7,778 (117 ) Total temporarily impaired securities $ 4,253 $ (48 ) $ 65,640 $ (3,272 ) $ 69,893 $ (3,320 ) During the third quarter of 2015, Home Savings transferred securities with a total amortized cost of $105.3 million with a corresponding fair value of $103.8 million from available for sale to held to maturity. The net unrealizable loss, net of taxes, on these securities at the date of transfer was $999,000. The fair value at the date of transfer becomes the securities’ new cost basis. The unrealized holding loss at the time of transfer continues to be reported in accumulated other comprehensive income, net of tax, and is amortized over the remaining lives of the securities as an adjustment of the yield. The amortization of the unamortized holding loss reported in accumulated other comprehensive income will directly offset the effect on interest income from the accretion of the reduced amortized cost for the transferred securities. Because of this transfer, the total losses less than 12 months and greater than 12 months reported in the table above for the period ending December 31, 2018, will not agree to the unrealized losses reported in the inventory of held to maturity securities. The inventory table reports unrealized gains and losses based upon the transferred securities adjusted cost basis and current fair value. The reporting of losses less than 12 months and greater than 12 months represents that actual period of time that these securities have been in an unrealized loss position and the securities amortized cost basis as if the transfer did not occur. These securities were transferred to available for sale from held to maturity in the second quarter of 2019. All of the securities in available for sale that were temporarily impaired at June 30, 2019 were impaired due to the level of interest rates at the time of purchase compared to current interest rates. All of the securities in available for sale and held to maturity that were temporarily impaired at December 31, 2018 were also impaired due to the level of interest rates at the time of purchase compared to interest rates at that time. Unrealized losses on these securities have not been recognized into income for the three and six months ended June 30, 2019 or 2018 because the issuer’s securities are of high credit quality (rated AA or higher), it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. There is risk that longer term rates could rise further resulting in greater unrealized losses. The Company expects to realize all interest and principal on these securities and has no intent to sell and more than likely will not be required to sell these securities before their anticipated recovery. Proceeds from the sale of available for sale securities were $42.6 million and $5.7 million for the three months ended June 30, 2019 and 2018, respectively. Gross gains of $180,000 and $94,000 were realized on these sales during the three months ended June 30, 2019 and 2018, respectively. Gross losses of $32,000 and $0 were realized during the three months ended June 30, 2019 and 2018, respectively. Proceeds from the sale of available for sale securities were $58.3 million and $10.4 million, for the six months ended June 30, 2019 and 2018, respectively. Gross gains of $324,000 and $233,000 were realized on these sales during the six months ended June 30, 2019 and 2018, respectively. Gross losses of $32,000 and $0 were realized during the six months ended June 30, 2019 and 2018, respectively. |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
LOANS | 6. LOANS Portfolio loans consist of the following: June 30, December 31, 2019 2018 (Dollars in thousands) Commercial loans Multifamily $ 154,630 $ 134,143 Nonresidential 414,780 409,979 Land 16,955 16,830 Construction 138,043 141,686 Secured 243,044 233,306 Unsecured 6,854 6,987 Total commercial loans 974,306 942,931 Residential mortgage loans One-to four-family 942,698 927,255 Construction 46,196 43,435 Total residential mortgage loans 988,894 970,690 Consumer loans Home equity 184,676 185,661 Auto 82,715 78,686 Marine 1,097 1,206 Recreational vehicle 3,433 4,347 Other 7,610 7,141 Total consumer loans 279,531 277,041 Total loans 2,242,731 2,190,662 Less: Allowance for loan losses 20,482 20,443 Deferred loan costs, net (7,077 ) (6,623 ) Total 13,405 13,820 Loans, net $ 2,229,326 $ 2,176,842 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and are based on impairment method as of June 30, 2019 and December 31, 2018 and activity for the three and six months ended June 30, 2019 and 2018. Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended June 30, 2019 Beginning balance $ 12,114 $ 5,823 $ 2,509 $ 20,446 Provision (recovery) 263 (312 ) (2 ) (51 ) Charge-offs — (79 ) (115 ) (194 ) Recoveries 170 26 85 281 Ending balance $ 12,547 $ 5,458 $ 2,477 $ 20,482 For the six months ended June 30, 2019 Beginning balance $ 11,875 $ 5,923 $ 2,645 $ 20,443 Provision 444 (490 ) 56 10 Charge-offs (88 ) (99 ) (440 ) (627 ) Recoveries 316 124 216 656 Ending balance $ 12,547 $ 5,458 $ 2,477 $ 20,482 As of June 30, 2019 Period-end amount allocated to: Loans individually evaluated for impairment $ 857 $ 669 $ 290 1,816 Loans collectively evaluated for impairment 11,690 4,789 2,187 18,666 Ending balance $ 12,547 $ 5,458 $ 2,477 $ 20,482 Period-end balances: Loans individually evaluated for impairment 7,680 12,402 5,057 25,139 Loans collectively evaluated for impairment 966,626 976,492 274,474 2,217,592 Ending balance $ 974,306 $ 988,894 $ 279,531 $ 2,242,731 Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total For the three months ended June 30, 2018 Beginning balance $ 13,095 $ 5,701 $ 2,814 $ 21,610 Provision (recovery) (263 ) 180 (55 ) (138 ) Charge-offs (75 ) (96 ) (83 ) (254 ) Recoveries 51 82 54 187 Ending balance $ 12,808 $ 5,867 $ 2,730 $ 21,405 For the six months ended June 30, 2018 Beginning balance $ 12,542 $ 5,860 $ 2,800 $ 21,202 Provision 133 87 49 269 Charge-offs (75 ) (181 ) (269 ) (525 ) Recoveries 208 101 150 459 Ending balance $ 12,808 $ 5,867 $ 2,730 $ 21,405 As of December 31, 2018 Period-end amount allocated to: Loans individually evaluated for impairment $ 103 $ 798 $ 300 1,201 Loans collectively evaluated for impairment 11,772 5,125 2,345 19,242 Ending balance $ 11,875 $ 5,923 $ 2,645 $ 20,443 Period-end balances: Loans individually evaluated for impairment 2,017 13,086 5,491 20,594 Loans collectively evaluated for impairment 940,914 957,604 271,550 2,170,068 Ending balance $ 942,931 $ 970,690 $ 277,041 $ 2,190,662 The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required based on an analysis using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations, estimated collateral values, general economic conditions in the market area and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged-off. Other loans not reviewed specifically by management are evaluated as a homogenous group of loans (generally single-family residential mortgage loans and all consumer credits except marine loans) using a loss factor applied to the outstanding loan balance to determine the level of reserve required. This loss factor consists of two components, a quantitative and a qualitative component. The quantitative component is based on a historical analysis of all charged-off loans, net of recoveries. In determining the qualitative factors, consideration is given to such attributes as lending policies, economic conditions, nature and volume of the portfolio, management, loan quality trend, loan review, collateral value, concentrations, economic cycles and other external factors. As of June 30, 2019, the Company evaluated 28 quarters of net charge-off history and applied this information to the current period. This component is combined with the qualitative component to arrive at the loss factor, which is applied to the outstanding balance of homogenous loans. The following table presents loans individually evaluated for impairment by class of loans as of and for six months ended June 30, 2019: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 155 $ — $ — $ 57 $ 1 $ 1 Nonresidential 2,942 2,801 — 1,019 17 17 Land — — — — — — Construction 2,446 — — — — — Secured 235 — — — — — Unsecured 474 — — — — — Total commercial loans 6,252 2,801 — 1,076 18 18 Residential mortgage loans One-to four-family 5,579 4,792 — 4,672 64 55 Construction — — — — — — Total residential mortgage loans 5,579 4,792 — 4,672 64 55 Consumer loans Home equity 1,041 926 — 912 7 6 Auto 33 25 — 19 — — Marine 354 105 — 118 — — Recreational vehicle 386 49 — 95 4 4 Other — — — — — — Total consumer loans 1,814 1,105 — 1,144 11 10 Total $ 13,645 $ 8,698 $ — $ 6,892 $ 93 $ 83 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential — — — 1,301 45 37 Land — — — — — — Construction — — — — — — Secured 5,654 4,879 857 1,947 137 137 Unsecured — — — — — — Total commercial loans 5,654 4,879 857 3,248 182 174 Residential mortgage loans One-to four-family 7,741 7,610 669 8,077 239 202 Construction — — — — — — Total residential mortgage loans 7,741 7,610 669 8,077 239 202 Consumer loans Home equity 3,620 3,535 274 3,680 110 97 Auto — — — — — — Marine 86 86 1 89 2 2 Recreational vehicle 343 331 15 314 11 10 Other — — — — — — Total consumer loans 4,049 3,952 290 4,083 123 109 Total 17,444 16,441 1,816 15,408 544 485 Total impaired loans $ 31,089 $ 25,139 $ 1,816 $ 22,300 $ 637 $ 568 The following table presents loans individually evaluated for impairment by class of loans as of and for six months ended June 30, 2018: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 28 $ — $ — $ — $ — $ — Nonresidential 630 137 — 100 4 4 Land 706 — — 6 — — Construction 2,457 — — — — — Secured 1,115 907 — 901 — — Unsecured 184 — — — — — Total commercial loans 5,120 1,044 — 1,007 4 4 Residential mortgage loans One-to four-family 6,918 5,994 — 5,602 74 58 Construction — — — — — — Total residential mortgage loans 6,918 5,994 — 5,602 74 58 Consumer loans Home equity 1,496 1,224 — 1,087 11 10 Auto 29 22 — 33 — — Marine 553 181 — 181 — — Recreational vehicle 520 100 — 122 4 4 Other 1 — — 6 — — Total consumer loans 2,599 1,527 — 1,429 15 14 Total $ 14,637 $ 8,565 $ — $ 8,038 $ 93 $ 76 With a specific allowance recorded Commercial loans Multifamily $ 422 $ 275 $ 28 $ 275 $ — $ — Nonresidential 1,235 1,232 13 1,356 52 44 Land — — — — — — Construction — — — — — — Secured 819 568 473 579 — — Unsecured — — — — — — Total commercial loans 2,476 2,075 514 2,210 52 44 Residential mortgage loans One-to four-family 8,574 8,461 834 9,793 233 195 Construction — — — — — — Total residential mortgage loans 8,574 8,461 834 9,793 233 195 Consumer loans Home equity 4,282 4,201 295 4,505 123 110 Auto — — — — — — Marine 95 95 1 97 2 2 Recreational vehicle 393 381 17 393 11 10 Other — — — — — — Total consumer loans 4,770 4,677 313 4,995 136 122 Total 15,820 15,213 1,661 16,998 421 361 Total impaired loans $ 30,457 $ 23,778 $ 1,661 $ 25,036 $ 514 $ 437 The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2018: Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no specific allowance recorded Commercial loans Multifamily $ 443 $ 170 $ — Nonresidential 588 130 — Land — — — Construction 2,447 — — Secured 806 — — Unsecured 474 — — Total commercial loans 4,758 300 — Residential mortgage loans One-to four-family 5,840 4,908 — Construction — — — Total residential mortgage loans 5,840 4,908 — Consumer loans Home equity 1,084 957 — Auto 25 17 — Marine 502 145 — Recreational vehicle 592 172 — Other — — — Total consumer loans 2,203 1,291 — Total $ 12,801 $ 6,499 $ — With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 1,186 1,186 12 Land — — — Construction — — — Secured 989 531 91 Unsecured — — — Total commercial loans 2,175 1,717 103 Residential mortgage loans One-to four-family 8,298 8,178 798 Construction — — — Total residential mortgage loans 8,298 8,178 798 Consumer loans Home equity 3,925 3,842 283 Auto — — — Marine 91 91 1 Recreational vehicle 279 267 16 Other — — — Total consumer loans 4,295 4,200 300 Total 14,768 14,095 1,201 Total impaired loans $ 27,569 $ 20,594 $ 1,201 The following table presents loans individually evaluated for impairment by class of loans for the three months ended June 30, 2019: Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ — $ — Nonresidential 1,464 16 16 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1,464 16 16 Residential mortgage loans One-to four-family 4,554 35 35 Construction — — — Total residential mortgage loans 4,554 35 35 Consumer loans Home equity 889 6 6 Auto 20 — — Marine 105 — — Recreational vehicle 56 2 2 Other — — — Total consumer loans 1,070 8 8 Total $ 7,088 $ 59 $ 59 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 1,359 — — Land — — — Construction — — — Secured 2,656 134 134 Unsecured — — — Total commercial loans 4,015 134 134 Residential mortgage loans One-to four-family 8,027 92 91 Construction — — — Total residential mortgage loans 8,027 92 91 Consumer loans Home equity 3,600 49 48 Auto — — — Marine 88 1 1 Recreational vehicle 338 5 5 Other — — — Total consumer loans 4,026 55 54 Total 16,068 281 279 Total impaired loans $ 23,156 $ 340 $ 338 The following table presents loans individually evaluated for impairment by class of loans for the three months ended June 30, 2018: Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 78 1 1 Land 5 — — Construction — — — Secured 905 — — Unsecured — — — Total commercial loans 988 1 1 Residential mortgage loans One-to four-family 5,683 30 30 Construction — — — Total residential mortgage loans 5,683 30 30 Consumer loans Home equity 1,101 6 6 Auto 42 — — Marine 181 — — Recreational vehicle 108 2 2 Other 8 — — Total consumer loans 1,440 8 8 Total $ 8,111 $ 39 $ 39 With a specific allowance recorded Commercial loans Multifamily $ 275 $ — $ — Nonresidential 1,323 22 22 Land — — — Construction — — — Secured 563 — — Unsecured — — — Total commercial loans 2,161 22 22 Residential mortgage loans One-to four-family 9,340 98 96 Construction — — — Total residential mortgage loans 9,340 98 96 Consumer loans Home equity 4,338 57 56 Auto — — — Marine 96 1 1 Recreational vehicle 387 5 5 Other — — — Total consumer loans 4,821 63 62 Total 16,322 183 180 Total impaired loans $ 24,433 $ 222 $ 219 Home Savings reclassifies a collateralized mortgage loan and a consumer loan secured by real estate to real estate owned and other repossessed assets once it has either obtained legal title to the real estate collateral or the borrower voluntarily conveys all interest in the real property to the Bank to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. The table below presents loans that are in the process of foreclosure at June 30, 2019 and December 31, 2018, but legal title, deed in lieu of foreclosure or similar legal agreement to the property has not yet been obtained: June 30, 2019 December 31, 2018 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment (Dollars in thousands) (Dollars in thousands) Mortgage loans in process of foreclosure $ 3,847 $ 3,686 $ 3,687 $ 3,636 Consumer loans in process of foreclosure 358 350 700 685 The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans as of June 30, 2019: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of June 30, 2019 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ — $ — Nonresidential 2,688 — Land — — Construction — — Secured 4,678 — Unsecured — — Total commercial loans 7,366 — Residential mortgage loans One-to four-family 4,365 — Construction — — Total residential mortgage loans 4,365 — Consumer Loans Home equity 936 — Auto 57 — Marine 105 — Recreational vehicle 34 — Other 9 — Total consumer loans 1,141 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 12,872 $ — The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans as of December 31, 2018: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of December 31, 2018 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ 171 $ — Nonresidential 13 — Land — — Construction — — Secured 531 — Unsecured — — Total commercial loans 715 — Residential mortgage loans One-to four-family 4,170 — Construction — — Total residential mortgage loans 4,170 — Consumer Loans Home equity 1,223 — Auto 131 — Marine 145 — Recreational vehicle 145 — Other 10 — Total consumer loans 1,654 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 6,539 $ — The following table presents an age analysis of past-due loans, segregated by class of loans as of June 30, 2019: Past Due Loans (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Loans Total Loans Commercial loans Multifamily $ — $ — $ — $ — $ 154,630 $ 154,630 Nonresidential 104 1,681 — 1,785 412,995 414,780 Land — — — — 16,955 16,955 Construction — — — — 138,043 138,043 Secured 24 44 427 495 242,549 243,044 Unsecured — — — — 6,854 6,854 Total commercial loans 128 1,725 427 2,280 972,026 974,306 Residential mortgage loans One-to four-family 3,059 765 3,867 7,691 935,007 942,698 Construction — — — — 46,196 46,196 Total residential mortgage loans 3,059 765 3,867 7,691 981,203 988,894 Consumer Loans: Home equity 1,166 319 893 2,378 182,298 184,676 Automobile 254 49 57 360 82,355 82,715 Marine — — 105 105 992 1,097 Recreational vehicle 59 73 34 166 3,267 3,433 Other 31 11 9 51 7,559 7,610 Total consumer loans 1,510 452 1,098 3,060 276,471 279,531 Total loans $ 4,697 $ 2,942 $ 5,392 $ 13,031 $ 2,229,700 $ 2,242,731 The following table presents an age analysis of past-due loans, segregated by class of loans as of December 31, 2018: Past Due Loans (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Loans Total Loans Commercial loans Multifamily $ — $ — $ 171 $ 171 $ 133,972 $ 134,143 Nonresidential — — — — 409,979 409,979 Land — — — — 16,830 16,830 Construction — — — — 141,686 141,686 Secured 195 — 531 726 232,580 233,306 Unsecured — — — — 6,987 6,987 Total commercial loans 195 — 702 897 942,034 942,931 Residential mortgage loans One-to four-family 2,139 882 3,470 6,491 920,764 927,255 Construction — — — — 43,435 43,435 Total residential mortgage loans 2,139 882 3,470 6,491 964,199 970,690 Consumer Loans: Home equity 658 295 1,147 2,100 183,561 185,661 Automobile 283 112 131 526 78,160 78,686 Marine — — 145 145 1,061 1,206 Recreational vehicle 548 — 145 693 3,654 4,347 Other 33 — 10 43 7,098 7,141 Total consumer loans 1,522 407 1,578 3,507 273,534 277,041 Total loans $ 3,856 $ 1,289 $ 5,750 $ 10,895 $ 2,179,767 $ 2,190,662 As of June 30, 2019 and December 31, 2018, the Company has a recorded investment in troubled debt restructurings of $15.3 million and $16.6 million, respectively. The Company allocated $989,000 of specific allowance for those loans at June 30, 2019 and $1.1 million at December 31, 2018. The Company has committed to lend, to existing troubled debt restructuring relationships, additional amounts totaling up to $45,000 and $41,000 at June 30, 2019 and December 31, 2018, respectively. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2019: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured 1 824 824 Unsecured — — — Total commercial loans 1 824 824 Residential mortgage loans One-to four-family — — — Construction — — — Total residential mortgage loans — — — Consumer loans Home equity 1 40 44 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 1 40 44 Total restructured loans 2 $ 864 $ 868 The troubled debt restructurings described above increased the allowance for loan losses by $1,000 and resulted in no charge-offs during the three months ended June 30, 2019. The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2019: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured 1 824 824 Unsecured — — — Total commercial loans 1 824 824 Residential mortgage loans One-to four-family 1 335 355 Construction — — — Total residential mortgage loans 1 335 355 Consumer loans Home equity 1 40 44 Auto — — — Marine — — — Recreational vehicle Other — — — Total consumer loans 1 40 44 Total restructured loans 3 $ 1,199 $ 1,223 The troubled debt restructurings described above increased the allowance for loan losses by $1,000 and resulted in no charge-offs during the six months ended June 30, 2019. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2018: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 3 521 547 Construction — — — Total residential mortgage loans 3 521 547 Consumer loans Home equity 2 113 113 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 2 113 113 Total restructured loans 5 $ 634 $ 660 The troubled debt restructurings described above increased the allowance for loans losses by $3,000 and resulted in no charge-offs during the three months ended June 30, 2018. The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2018: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 124 124 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 124 124 Residential mortgage loans One-to four-family 3 521 547 Construction — — — Total residential mortgage loans 3 521 547 Consumer loans Home equity 2 113 113 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 2 113 113 Total restructured loans 6 $ 758 $ 784 The troubled debt restructurings described above increased the allowance for loans losses by $3,000 and resulted in no charge-offs during the six months ended June 30, 2018. There were no loans modified as troubled debt restructurings for which there was a payment default within a twelve-month cycle following the modification during the period ended June 30, 2019. The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve month cycle following the modification during the period ended June 30, 2018: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential 1 121 Land — — Construction — — Secured — — Unsecured — — Total commercial loans 1 121 Residential mortgage loans One-to four-family 2 357 Construction — — Total residential mortgage loans 2 357 Consumer loans Home equity — — Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans — — Total restructured loans 3 $ 478 The troubled debt restructurings that subsequently defaulted described above resulted in no charge-offs during the three and six months ended June 30, 2018, and had no effect on the provision for loan losses. A troubled debt restructuring is considered to be in payment default once it is 30 days contractually past due under the modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed in accordance with the Company’s internal underwriting policy. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as: current financial information, historical payment experience, credit documentation, public information and current economic trends. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes homogeneous loans past due 90 cumulative days, and all non-homogeneous loans, including commercial loans and commercial real estate loans. Smaller balance homogeneous loans are primarily monitored by payment status. Asset quality ratings are divided into two groups: Pass (unclassified) and Classified. Within the unclassified group, certain loans that display potential weakness are risk rated as special mention. In addition, there are three classified risk ratings: substandard, doubtful and loss. These specific credit risk categories are defined as follows: Special Mention. Loans classified as special mention have potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loss. Loans classified as loss are considered uncollectible and of such little value, that continuance as assets is not warranted. Although there may be a chance of recovery on these assets, it is not practical or desirable to defer writing off the asset. The Company monitors loans on a monthly basis to determine if they should be included in one of the categories listed above. All impaired non-homogeneous credits classified as substandard, doubtful or loss are analyzed on an individual basis for a specific reserve requirement. This analysis is performed on each individual credit at least annually or more frequently if warranted. As of June 30, 2019 and December 31, 2018, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: June 30, 2019 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 142,730 $ 10,824 $ 1,076 $ — $ — $ 1,076 $ 154,630 Nonresidential 389,262 15,346 10,172 — — 10,172 414,780 Land 16,955 — — — — — 16,955 Construction 135,658 2,385 — — — — 138,043 Secured 220,556 3,065 19,423 — — 19,423 243,044 Unsecured 6,771 — 83 — — 83 6,854 Total commercial loans 911,932 31,620 30,754 — — 30,754 974,306 Residential mortgage loans One-to four-family 937,532 96 5,070 — — 5,070 942,698 Construction 46,196 — — — — — 46,196 Total residential mortgage loans 983,728 96 5,070 — — 5,070 988,894 Consumer Loans Home equity 183,700 — 976 — — 976 184,676 Auto 82,658 — 57 — — 57 82,715 Marine 992 — 105 — — 105 1,097 Recreational vehicle 3,399 — 34 — — 34 3,433 Other 7,597 — 13 — — 13 7,610 Total consumer loans 278,346 — 1,185 — — 1,185 279,531 Total loans $ 2,174,006 $ 31,716 $ 37,009 $ — $ — $ 37,009 $ 2,242,731 December 31, 2018 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 133,972 $ — $ 171 $ — $ — $ 171 $ 134,143 Nonresidential 378,160 18,420 13,399 — — 13,399 409,979 Land 16,830 — — — — — 16,830 Construction 139,540 2,146 — — — — 141,686 Secured 214,924 2,184 16,198 — — 16,198 233,306 Unsecured 6,894 — 93 — — 93 6,987 Total commercial loans 890,320 22,750 29,861 — — 29,861 942,931 Residential mortgage loans One-to four-family 921,694 591 4,970 — — 4,970 927,255 Construction 43,435 — — — — — 43,435 Total residential mortgage loans 965,129 591 4,970 — — 4,970 970,690 Consumer Loans Home equity 184,438 — 1,223 — — 1,223 185,661 Auto 78,551 — 135 — — 135 78,686 Marine 1,061 — 145 — — 145 1,206 Recreational vehicle 4,221 — 126 — — 126 4,347 Other 7,131 — 10 — — 10 7,141 Total consumer loans 275,402 — 1,639 — — 1,639 277,041 Total loans $ 2,130,851 $ 23,341 $ 36,470 $ — $ — $ 36,470 $ 2,190,662 Purchased Credit Impaired Loans: The Company has purchased loans for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. As of June 30, 2019 and December 31, 2018 there were no outstanding purchase credit impaired loans. Accretable yield, or income expected to be collected, is as follows: Three Months Ended Three Months Ended For the six months ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) (Dollars in thousands) Beginning of period $ — $ 110 $ — $ 110 Accretion of income — 6 — 6 Balance at end of period $ — $ 104 $ — $ 104 For the purchased credit impaired loans disclosed above, there was no change in the allowance for loan losses for the three and six months ended June 30, 2019 and 2018. Income is not recognized on purchased credit impaired loans if the Company cannot reasonably estimate cash flows expected to be collected. The carrying amounts of such loans are as follows: June 30, 2019 June 30, 2018 (Dollars in thousands) Loans at beginning of period $ — $ 1,194 Loans purchased during the period — — Loans at end of period — 1,091 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 6 Months Ended |
Jun. 30, 2019 | |
Mortgage Banking [Abstract] | |
MORTGAGE BANKING ACTIVITIES | 7. MORTGAGE BANKING ACTIVITIES Mortgage loans serviced for others, which are not reported in United Community’s assets, totaled $1.4 billion as of June 30, 2019 and $1.4 billion as of December 31, 2018. Mortgage banking income is comprised of gains recognized on the sale of loans and changes in fair value of mortgage banking derivatives. The principal balances of mortgage loans serviced for others are as follows: June 30, 2019 December 31, 2018 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 1,018,365 $ 1,016,097 FNMA 395,438 347,294 Private investor 11,641 15,049 Customer escrow balances with loans serviced for FHLMC, FNMA and the private investor totaled $15.1 million and $16.3 million at June 30, 2019 and December 31, 2018, respectively. Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance, beginning of period $ 8,041 $ 6,843 $ 7,704 $ 6,681 Originations 703 641 1,486 1,303 Amortized to expense (553 ) (542 ) (999 ) (1,042 ) Balance, end of period 8,191 6,942 8,191 6,942 Less valuation allowance (1,565 ) (20 ) (1,565 ) (20 ) Net balance $ 6,626 $ 6,922 $ 6,626 $ 6,922 Activity in the valuation allowance for mortgage servicing rights was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance, beginning of period $ (569 ) $ — $ (70 ) $ (9 ) Impairment charges (996 ) (20 ) (1,495 ) (20 ) Recoveries — — — 9 Balance, end of period $ (1,565 ) $ (20 ) $ (1,565 ) $ (20 ) The fair value of mortgage servicing rights as of June 30, 2019, was approximately $10.5 million and at December 31, 2018, the fair value was approximately $12.2 million. Key economic assumptions in measuring the value of mortgage servicing rights at June 30, 2019, and December 31, 2018, were as follows: June 30, 2019 December 31, 2018 Weighted average prepayment rate 266 PSA 145 PSA Weighted average life (in years) 5.27 7.26 Weighted average discount rate 11.00% 11.00% |
OTHER REAL ESTATE OWNED AND OTH
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS | 6 Months Ended |
Jun. 30, 2019 | |
Real Estate [Abstract] | |
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS | 8. OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS Real estate owned and other repossessed assets at June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 December 31, 2018 (Dollars in thousands) Real estate owned and other repossessed assets $ 1,113 $ 1,396 Valuation allowance (158 ) (308 ) End of period $ 955 $ 1,088 Activity in the valuation allowance was as follows: Three Months Ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) Beginning of period $ 318 $ 287 $ 308 $ 403 Additions charged to expense 17 10 36 33 Sales of real estate owned with a valuation allowance (177 ) (49 ) (186 ) (188 ) End of period $ 158 $ 248 $ 158 $ 248 Expenses related to foreclosed and repossessed assets include: Three Months Ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) Net loss on sales $ 16 $ 103 $ 28 $ 158 Provision for unrealized losses 17 10 36 33 Operating expenses, net of rental income 17 34 56 70 Total expenses $ 50 $ 147 $ 120 $ 261 |
FAIR VALUE MEASUREMENT
FAIR VALUE MEASUREMENT | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENT | 9. FAIR VALUE MEASUREMENT Fair value is the exchange price that would be received for an asset if paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own beliefs about the assumptions that market participants would use in pricing an asset or liability. United Community uses the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Trading securities: The fair values of trading securities are determined by obtaining quoted prices from a counterparty who makes a market in the securities (Level 1 inputs). For securities where quoted prices are not available, fair value is calculated based on the market price of similar securities discounted for the price that certain bidders are willing to pay for the securities (Level 2). Available for sale securities : The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2), using matrix pricing. Matrix pricing is a mathematical technique commonly used to price debt securities that are not actively traded, values debt securities without relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). Impaired loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Other real estate owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Real estate owned properties are individually evaluated at least annually for additional impairment and adjusted accordingly. Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Home Savings. Once received, a member of the Special Assets Department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with the independent data sources such as recent market data or industry-wide statistics. In addition to the Special Assets Department review, a third party independent review is also performed. On an annual basis, Home Savings compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. At the time a property is acquired and classified as real estate owned, the fair value is determined utilizing the most appropriate method. A fair value in excess of $250,000 will be supported by an appraisal. After determination of fair value, each property will be recorded at the lower of cost (i.e., recorded investment in the loan) or the estimated net realizable value on the date of transfer to real estate owned. In determining net realizable value, reductions to fair market value may be taken for estimated costs of sale, conditions that must be remedied immediately upon acquisition, and other factors that negatively impact the marketability and prompt sale of the property. Mortgage servicing rights: On a quarterly basis, loan servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. Fair value is determined at a tranche level, based on market prices for comparable mortgage servicing contracts, when available, or alternatively based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data (Level 2). Loans held for sale, at fair value : The Company elected the fair value option for all conventional residential one-to four-family loans held for sale originated after January 1, 2016 and all permanent construction loans held for sale originated on or after January 1, 2015. The fair value of conventional loans held for sale is determined using the current 15 day forward contract price for either 15 or 30 year conventional mortgages (Level 2). The fair value of the Company’s permanent construction loans held for sale is determined using the current 60 day forward contract price for 30 year conventional loans which is then adjusted by extrapolating this rate to the estimated time period remaining until construction is complete. The fair value is also adjusted for unobservable market data such as estimated fall out rates and the estimated time from origination to completion of construction (Level 3). Purchased and written certificate of deposit option: Home Savings periodically enters into written and purchased option derivative instruments to facilitate the Power CD. The written and purchased options are mirror derivative instruments which are carried at fair value on the consolidated balance sheets. Home Savings uses an independent third party that performs a market valuation analysis for purchased and written certificate of deposit options (Level 2). Interest rate swaps: Home Savings periodically enters into interest rate swap agreements with its commercial customers who desire a fixed rate loan term that is longer than Home Savings is willing to extend. Home Savings then enters into a reciprocal swap agreement with a 3 rd Assets and Liabilities Measured on a Recurring Basis: Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements at June 30, 2019 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable June 30, Assets Inputs Inputs 2019 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Trading securities $ 705 $ 234 $ 471 $ — Available for sale securities U.S. Treasury and agency securities 65,790 — 65,790 — States and municipalities 36,025 — 36,025 — Corporate debt securities 13,360 — 13,360 — Collateralized mortgage obligations 56,107 — 56,107 — Mortgage-backed securities 147,727 — 147,727 — Loans held for sale, at fair value 97,477 — 27,912 69,565 Purchased certificate of deposit option 279 — 279 — Interest rate swaps 121 — 121 — Liabilities Written certificate of deposit option 279 — 279 — Interest rate swaps 133 — 133 — Fair Value Measurements at December 31, 2018 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Trading securities $ 364 $ 364 — — Available for sale securities U.S. Treasury and agency securities 95,581 — 95,581 — States and municipalities 47,746 — 47,746 — Corporate debt securities 2,004 — 2,004 — Collateralized mortgage obligations 22,108 — 22,108 — Mortgage-backed securities 74,204 — 74,204 — Loans held for sale, at fair value 91,472 — 11,221 80,251 Purchased certificate of deposit option 261 — 261 — Interest rate swaps 56 — 56 — Liabilities Written certificate of deposit option 261 — 261 — Interest rate swaps 62 — 62 — There were no transfers between Level 1 and Level 2 during the first and second quarters of 2019 or fiscal year 2018. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended June 30, 2019 and 2018. Loans Held for Sale, At Fair Value For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 65,796 $ 64,552 $ 80,251 $ 65,016 Total gains (losses) for the period Included in change in fair value of loans held for sale 1,581 19 2,650 (2,139 ) Included in other comprehensive income — — — — Originations/Draws on construction perm loans 30,633 35,517 53,730 62,327 Amortization — — — — Sales (28,445 ) (23,398 ) (67,066 ) (48,514 ) Balance of recurring Level 3 assets at end of period $ 69,565 $ 76,690 $ 69,565 $ 76,690 The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2019: Valuation Unobservable Fair Value Technique(s) Input(s) Range Construction loans held for sale $ 69,565 Comparable sales Time discount 0.00-0.39% The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2018: Valuation Unobservable Fair Value Technique(s) Input(s) Range Construction loans held for sale $ 80,251 Comparable sales Time discount 0.00-1.05% The fair value of loans held for sale, at fair value was determined using pricing from a quoted market, discounted for the length of time to the completion of the construction project. Assets and Liabilities Measured on a Non-Recurring Basis: Assets and liabilities measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2019 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable June 30, Assets Inputs Inputs 2019 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Secured Commercial 3,807 — — 3,807 Residential loans One-to four-family residential 241 — — 241 Consumer loans Marine 105 — — 105 Recreational vehicle 4 — — 4 Mortgage servicing rights 2,610 — 2,610 — Other real estate owned, net Commercial loans Construction loans 63 — — 63 Residential loans One-to four-family residential 66 — — 66 Fair Value Measurements at December 31, 2018 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Secured $ 419 $ — $ — $ 419 Residential loans One-to four-family residential 540 — — 540 Consumer loans Auto 8 — — 8 Mortgage servicing rights 2,990 — 2,990 — Other real estate owned, net Commercial loans Auto 181 — — 181 Residential loans One-to four-family residential 121 — — 121 Impaired loans with specific allocations of the allowance for loan losses, carried at fair value, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a net carrying amount of $4.2 million at June 30, 2019, that includes a specific valuation allowance of $828,000. This resulted in an increase of the provision for loan losses of $86,000 and $122,000 during the three and six months ended June 30, 2019, respectively. Impaired loans with specific allocations of the allowance for loan losses, carried at fair value, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a net carrying amount of $432,000 at June 30, 2018, which includes a specific valuation allowance of $490,000. This resulted in an increase in the provision for loan losses of $252,000 and $479,000 for the three and six months ended June 30, 2018. Impaired loans with specific allocations of the allowance for loan losses, carried at fair value, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a net carrying amount of $967,000 at December 31, 2018, that includes a specific valuation allowance of $69,000. The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral dependent impaired loans included in the above table primarily relate to the adjustment between carrying values versus appraised value. During the reported periods, discounts applied to appraisals for estimated selling costs were 10%. At June 30, 2019, mortgage servicing rights carried at fair value totaled $2.6 million with a valuation allowance of $1.6 million. At June 30, 2018, $240,000 mortgage servicing rights were carried at fair value, resulting in a net valuation allowance of $20,000. Mortgage servicing rights are valued by an independent third party that is active in purchasing and selling these instruments. Net impairment reflected in mortgage servicing rights valuation totaled $996,000 and $1.5 million for the three and six months ended June 30, 2019. A net impairment reflected in other income totaled $20,000 and $11,000 for the three and six months ended June 30, 2018. The value reflects the characteristics of the underlying loans. At June 30, 2019, other real estate owned, carried at fair value, which is measured for impairment using the fair value of the property less estimated selling costs, and had a net carrying amount of $129,000, with a valuation allowance of $158,000. This resulted in expense of $17,000 and $36,000 during the three and six months ended June 30, 2019. At June 30, 2018, other real estate owned, carried at fair value, which is measured for impairment using the fair value of the property less estimated selling costs, and had a net carrying amount of $286,000 with a valuation allowance of $248,000. This resulted in expense of $10,000 and $33,000 during the three and six months ended June 30, 2018. At December 31, 2018, other real estate owned had a net carrying amount of $302,000, with a valuation allowance of $308,000. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2019: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Secured Commercial 3,807 Sales comparison approach Adjustment for differences between comparable sales 0.00-35.00% (15.00%) Residential loans One-to four-family residential 241 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Consumer loans Marine 105 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Recreational vehicle 4 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Other real estate owned, net Commercial loans Construction loans 63 Sales comparison approach Adjustment for differences between comparable sales 0.00%-50.00% (45.85%) Residential loans One-to four-family residential 66 Sales comparison approach Adjustment for differences between comparable sales 0.00%-14.22% (14.22%) The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2018: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Secured 419 Sales comparison approach Adjustment for differences between comparable sales 0.00%-64.00% (16.00%) Residential loans One-to four-family residential 540 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Other real estate owned: Commercial loans Construction loans 181 Sales comparison approach Adjustment for differences between comparable sales 0.00%-52.90% (52.41%) Residential loans One-to four-family residential 121 Sales comparison approach Adjustment for differences between comparable sales 0.00%-13.43% (13.43%) The Company has elected the fair value option for newly originated residential mortgage and permanent construction loans held for sale. These loans are intended for sale and the Company believes that fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 or more days past due nor on nonaccrual status as of June 30, 2019 and December 31, 2018. June 30, 2019 December 31, 2018 (Dollars in thousands) Aggregate fair value $ 97,477 $ 91,472 Contractual balance 90,495 87,731 Gain 6,982 3,741 The total amount of gains and losses from changes in fair value included in earnings for the three and six months ended June 30, 2019 and 2018 for loans held for sale, at fair value were: For the Three Months Ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) Interest income $ — $ — $ — $ — Interest expense — — — — Change in fair value 2,162 285 3,241 (2,197 ) Total change in fair value $ 2,162 $ 285 $ 3,241 $ (2,197 ) In accordance with U.S. GAAP, the carrying value and estimated fair values of financial instruments at June 30, 2019 and December 31, 2018, were as follows: Fair Value Measurements at June 30, 2019 Using: June 30, 2019 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 54,562 $ 54,562 $ — $ — Trading securities 705 234 471 — Available for sale securities 319,009 — 319,009 — Held to maturity securities — — — — Loans held for sale, at fair value 97,477 — 27,912 69,565 Loans, net 2,229,326 — — 2,225,425 Purchased certificate of deposit option 279 — 279 — Interest rate swaps 121 — 121 — Liabilities: Deposits: Checking, savings and money market accounts (1,427,080 ) (1,427,080 ) — — Certificates of deposit (832,099 ) — (832,695 ) — FHLB advances (233,000 ) — (233,000 ) — Repurchase agreements and other (146 ) — (143 ) — Written certificate of deposit option (279 ) — (279 ) — Interest rate swaps (133 ) — (133 ) — Fair Value Measurements at December 31, 2018 Using: December 31, 2018 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 60,985 $ 60,985 $ — $ — Trading securities 364 364 — — Available for sale securities 241,643 — 241,643 — Held to maturity securities 77,491 — 71,206 3,869 Loans held for sale, at fair value 91,472 — 11,221 80,251 Loans, net 2,176,842 — — 2,138,319 Purchased certificate of deposit option 261 — 261 — Interest rate swaps 56 56 — Liabilities: Deposits: Checking, savings and money market accounts (1,305,439 ) (1,305,439 ) — — Certificates of deposit (907,781 ) — (904,198 ) — FHLB advances (243,000 ) — (243,000 ) — Repurchase agreements and other (224 ) — (213 ) — Written certificate of deposit option (261 ) — (261 ) — Interest rate swaps (62 ) — (62 ) — |
STATEMENT OF CASH FLOWS SUPPLEM
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE | 6 Months Ended |
Jun. 30, 2019 | |
Supplemental Cash Flow Elements [Abstract] | |
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE | 10. STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE Supplemental disclosures of cash flow information are summarized below. For the Six Months Ended June 30, 2019 2018 (Dollars in thousands) Supplemental disclosures of cash flow information Cash paid during the period for: Interest on deposits and borrowings $ 14,872 $ 10,016 Income taxes 7,125 500 Supplemental schedule of noncash activities: Transfers from loans to real estate owned and other repossessed assets 653 489 Transfer from held to maturity securities to available for sale securities 74,560 — Accretion of securities held to maturity 42 77 Right of use asset recorded 5,469 — |
EARNINGS PER SHARE
EARNINGS PER SHARE | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | 11. EARNINGS PER SHARE The Company has granted stock compensation awards with nonforfeitable dividend rights that are considered participating securities. As such, earnings per share is computed using the two-class method as required by ASC 206-10-45. Basic earnings per common share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period which excludes the participating securities. Diluted earnings per common share includes the dilutive effect of additional potential common shares from stock compensation awards, but also excludes awards considered participating securities. There were 50,000 stock options that were anti-dilutive for the three and six months ended June 30, 2019 and June 30, 2018. For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands, except per share data) Net income per consolidated statements of income $ 10,486 $ 9,541 $ 19,142 $ 18,097 Net income allocated to participating securities (27 ) (41 ) (66 ) (91 ) Net income allocated to common stock $ 10,459 $ 9,500 $ 19,076 $ 18,006 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 3,407 $ 2,982 $ 6,827 $ 5,954 Undistributed earnings allocated to common stock 7,052 6,518 12,249 12,052 Net income allocated to common stock $ 10,459 $ 9,500 $ 19,076 $ 18,006 Weighted average common shares outstanding, including shares considered participating securities 48,589 49,906 48,805 49,877 Less: Average participating securities (126 ) (212 ) (167 ) (250 ) Weighted average shares 48,463 49,694 48,638 49,627 Basic earnings per common share $ 0.22 $ 0.19 $ 0.39 $ 0.36 Diluted earnings per common share computation: Net income allocated to common stock $ 10,459 $ 9,500 $ 19,076 $ 18,006 Weighted average common shares outstanding for basic earnings per common share 48,463 49,694 48,638 49,627 Add: Dilutive effects of assumed exercises of stock options and LTIP awards 181 250 201 262 Weighted average shares and dilutive potential common shares 48,644 49,944 48,839 49,889 Diluted earnings per common share $ 0.22 $ 0.19 $ 0.39 $ 0.36 |
OTHER COMPREHENSIVE INCOME (LOS
OTHER COMPREHENSIVE INCOME (LOSS) | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME (LOSS) | 12. OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) included in the consolidated statements of shareholders’ equity consists of unrealized gains and losses on available for sale securities, accretion of unrealized losses on held to maturity securities, the transfer of the held to maturity securities portfolio to available for sale and disproportionate tax effects. The change includes reclassification of net gains or (losses) on sales of securities of $148,000 and $94,000 for the three months ended June 30, 2019 and 2018, respectively, and $292,000 and $233,000 for the six months ended June 30, 2019 and 2018, respectively. Reclassifications also includes accretion of unrealized losses on held to maturity securities. Other comprehensive income (loss) components and related tax effects for the three-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total June 30, 2019 (Dollars in thousands) Balances at beginning of period, net of tax $ (785 ) $ (17,110 ) $ (521 ) $ (18,416 ) Other comprehensive income before reclassifications 3,344 — — 3,344 Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 9 9 Transfer of held to maturity securities to available for sale (512 ) — 512 — Reclassification adjustment for gains realized in income (117 ) — — (117 ) Net current period other comprehensive income 2,715 — 521 3,236 Balances at end of period, net of tax $ 1,930 $ (17,110 ) $ — $ (15,180 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total June 30, 2018 (Dollars in thousands) Balances at beginning of period, net of tax $ (4,924 ) $ (17,110 ) $ (641 ) $ (22,675 ) Other comprehensive income before reclassifications (1,359 ) — — (1,359 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 31 31 Reclassification adjustment for gains realized in income (74 ) — — (74 ) Net current period other comprehensive income (1,433 ) — 31 (1,402 ) Balances at end of period, net of tax $ (6,357 ) $ (17,110 ) $ (610 ) $ (24,077 ) Other comprehensive income (loss) components and related tax effects for the six-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total June 30, 2019 (Dollars in thousands) Balances at beginning of period, net of tax $ (3,781 ) $ (17,110 ) $ (545 ) $ (21,436 ) Other comprehensive income before reclassifications 6,454 — — 6,454 Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 33 33 Transfer of held to maturity securities to available for sale (512 ) — 512 — Reclassification adjustment for gains realized in income (231 ) — — (231 ) Net current period other comprehensive income 5,711 — 545 6,256 Balances at end of period, net of tax $ 1,930 $ (17,110 ) $ — $ (15,180 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total June 30, 2018 (Dollars in thousands) Balances at beginning of period, net of tax $ (904 ) $ (17,110 ) $ (671 ) $ (18,685 ) Other comprehensive income before reclassifications (5,269 ) — (5,269 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 61 61 Reclassification adjustment for gains realized in income (184 ) — — (184 ) Net current period other comprehensive income (5,453 ) — 61 (5,392 ) Balances at end of period, net of tax $ (6,357 ) $ (17,110 ) $ (610 ) $ (24,077 ) As of June 30, 2014, management concluded it was more likely than not that the Company’s net deferred tax asset (DTA) would be realized and accordingly determined a full deferred tax valuation allowance was no longer required. Upon reversal of the former full deferred tax valuation allowance as of June 30, 2014, certain disproportionate tax effects are retained in accumulated other comprehensive income (loss).The entire disproportionate tax effect is attributable to valuation allowance expense recorded through other comprehensive income (loss) on the tax benefit of losses sustained on the available for sale securities portfolio while the Company was in a full deferred tax valuation allowance. This valuation allowance was appropriately reversed through continuing operations at June 30, 2014, leaving the original expense in accumulated other comprehensive income (loss), where it will remain in accordance with the Company’s election of the “portfolio approach”, until such time as the Company would cease to have an available for sale security portfolio. The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended June 30, 2019: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (148 ) Net gains on securities 31 Tax expense Total reclassification during the period $ (117 ) Net of tax, increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended June 30, 2018: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (94 ) Net gains 20 Tax expense Total reclassification during the period $ (74 ) Net of tax, increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the six months ended June 30, 2019: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (292 ) Net gains 61 Tax expense (231 ) Net of tax The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the six months ended June 30, 2018: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (233 ) Net gains on securities 49 Tax expense Total reclassification during the period $ (184 ) Net of tax, increase to net income |
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS | 6 Months Ended |
Jun. 30, 2019 | |
Banking And Thrift [Abstract] | |
REGULATORY CAPITAL REQUIREMENTS | 13. REGULATORY CAPITAL REQUIREMENTS Home Savings is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on Home Savings. The regulations require Home Savings to meet specific capital adequacy guidelines in keeping with the regulatory framework for prompt corrective action that involve quantitative measures of Home Savings’ assets, liabilities, and certain off balance sheet items as calculated under regulatory accounting practices. Home Savings’ capital classification is also subject to qualitative judgments by the regulators about components of capital, risk weightings, and other factors. The Basel III Capital Rules establish a common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets)and a minimum Tier 1 capital to risk-based assets requirement (6% of risk-weighted assets), and assign a risk weight (150%) to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The rules also require unrealized gains and losses on certain available-for-sale securities holdings to be included for purposes of calculating regulatory capital requirements unless a one-time opt-in or opt-out is exercised. In connection with the adoption of the Basel III Capital Rules, Home Savings elected to opt-out of the requirement to include most components of accumulated other comprehensive income in Common Equity Tier 1. The rule limits a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” consisting of 2.5% of common equity Tier 1 capital risk-based weighted assets in addition to the amount necessary to meeting its minimum risk-based capital requirements. The capital conservation buffer requirement was fully phased in beginning January 1, 2019. The capital conservation buffer is now 2.50%. The capital conservation buffer for 2018 was 1.875%. Quantitative measures established by regulation for capital adequacy require Home Savings to maintain minimum ratios of Tier 1 (or Core) capital (as defined in the regulations) to average total assets (as defined) and of total risk-based capital (as defined) to risk-weighted assets (as defined). Home Savings’ Common Equity Tier 1 capital consists of common stock and related paid-in capital, net of treasury stock, and retained earnings. Common Equity Tier 1 for Home Savings is reduced by intangible assets, net of associated deferred tax liabilities and subject to transition provisions. Actual and regulatory required capital ratios for Home Savings, along with the dollar amount of capital implied by such ratios, are presented below. June 30, 2019 To Be Well Capitalized Minimum Capital Under Prompt Requirements Corrective Action Actual Per Regulation Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 310,134 14.17 % $ 175,147 8.00 % $ 218,934 10.00 % Tier 1 capital (to risk-weighted assets) 289,697 13.23 % 131,360 6.00 % 175,147 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 289,697 13.23 % 98,520 4.50 % 142,307 6.50 % Tier 1 capital (to average assets)** 289,697 10.32 % 112,334 4.00 % 140,418 5.00 % December 31, 2018 To Be Well Capitalized Minimum Capital Under Prompt Requirements Corrective Action Actual Per Regulation Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 301,864 14.30 % $ 168,841 8.00 % $ 211,051 10.00 % Tier 1 capital (to risk-weighted assets) 281,475 13.34 % 126,631 6.00 % 168,841 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 281,475 13.34 % 94,973 4.50 % 137,183 6.50 % Tier 1 capital (to average assets)** 281,475 10.11 % 111,318 4.00 % 139,147 5.00 % ** Tier 1 Leverage Capital Ratio Management believes that as of June 30, 2019 and December 31, 2018, Home Savings met all capital adequacy requirements to which it was subject. As of June 30, 2019 and December 31, 2018, Home Savings met the capital requirements to be deemed well capitalized. There are no known conditions that would change this classification subsequent to June 30, 2019. The components of Home Savings’ regulatory capital are as follows: June 30, 2019 December 31, 2018 Total shareholders' equity $ 295,306 $ 281,006 Add (deduct) Accumulated other comprehensive income 15,195 21,450 Intangible assets (20,804 ) (20,981 ) Tier 1 Capital 289,697 281,475 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 20,437 20,389 Total risk-based capital $ 310,134 $ 301,864 ** Tier 1 Leverage Capital Ratio |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 14. INCOME TAXES Significant components of the deferred tax assets and liabilities are as follows: June 30, December 31, 2019 2018 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 4,331 $ 4,293 Depreciation 314 363 Other real estate owned valuation 33 65 Unrealized loss on securities available for sale — 1,005 Unrealized loss on securities held to maturity — 184 Interest on nonaccrual loans 338 425 Net operating loss carryforward — 409 Accrued bonuses 719 840 Other 4 125 Deferred tax assets 5,739 7,709 Deferred tax liabilities: Deferred loan fees 1,645 1,512 Federal Home Loan Bank stock dividends 613 2,749 Mortgage servicing rights 1,391 1,603 Purchase accounting adjustment 199 62 Prepaid expenses 227 228 Unrealized gain on securities available for sale 513 — Deferred tax liabilities 4,588 6,154 Net deferred tax asset $ 1,151 $ 1,555 As of June 30, 2019, the net deferred tax asset was $1.2 million, and as of December 31, 2018, the net deferred tax asset was $1.6 million. The Company’s ultimate realization of the net deferred tax asset is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the nature and amount of historical and projected future taxable income, the scheduled reversal of deferred tax assets and liabilities, and available tax planning strategies in making this assessment. The amount of deferred taxes recognized could be impacted by changes to any of these variables. Effective tax rates differ from the statutory federal income tax rate of 21% for 2019 and 2018 due to the following: For the Three Months Ended June 30, 2019 2018 Dollars Rate Dollars Rate (Dollars in thousands) Tax at statutory rate: $ 2,686 21.00 % $ 2,469 21.00 % Increase (decrease) due to: Tax exempt income (33 ) (0.26 )% (147 ) (1.26 )% Increase (decrease) due to: Life insurance (83 ) (0.65 )% (91 ) (0.77 )% Stock compensation (22 ) (0.17 )% (4 ) (0.03 )% Reversal of disproportionate tax effect (145 ) (1.13 )% — — % Other (100 ) (0.78 )% (13 ) (0.11 )% Income tax provision $ 2,303 18.01 % $ 2,214 18.83 % For the Six Months Ended June 30, 2019 2018 Dollars Rate Dollars Rate (Dollars in thousands) Tax at statutory rate: $ 4,896 21.00 % $ 4,641 21.00 % Increase (decrease) due to: Tax exempt income (93 ) (0.40 )% (181 ) (0.82 )% Increase (decrease) due to: Life insurance (164 ) (0.70 )% (182 ) (0.82 )% Stock compensation (80 ) (0.34 )% (132 ) (0.60 )% Reversal of disproportionate tax effect (145 ) (0.62 )% — — % Other (243 ) (1.05 )% (143 ) (0.65 )% Income tax provision $ 4,171 17.89 % $ 4,003 18.11 % |
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
GOODWILL AND INTANGIBLE ASSETS | 15. GOODWILL AND INTANGIBLE ASSETS Goodwill: The change in goodwill during the periods presented is as follows: June 30, 2019 December 31, 2018 (In thousands) Beginning of the year $ 20,221 $ 20,221 Impairment — — End of the year $ 20,221 $ 20,221 Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. If the carrying amount of a reporting unit is zero or less than zero, a qualitative analysis of whether it is more likely than not that the reporting unit goodwill is impaired will be performed. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment. The Company did not have any reporting units with a carrying amount of zero or less than zero at June 30, 2019 or December 31, 2018. Acquired Intangible Assets: June 30, 2019 December 31, 2018 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Amortized intangible assets: Core deposit intangibles $ 11,184 $ 9,745 $ 11,184 $ 9,581 Customer list intangible 2,547 424 2,547 333 Total $ 13,731 $ 10,169 $ 13,731 $ 9,914 Aggregate amortization expense for the three months ended June 30, 2019 and 2018 was $127,000 and $132,000, respectively. Aggregate amortization expense for the six months ended June 30, 2019 and 2018 was $255,000 and $245,000, respectively. Estimated amortization expense for the remainder of 2019 and the next five years is as follows: Remainder of 2019 $ 255,000 2020 510,000 2021 510,000 2022 510,000 2023 510,000 2024 510,000 |
QUALIFIED AFFORDABLE HOUSING PR
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS | 6 Months Ended |
Jun. 30, 2019 | |
Federal Home Loan Banks [Abstract] | |
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS | 16. QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company invests in qualified affordable housing projects. At June 30, 2019 and December 31, 2018, the balance of the investment for qualified affordable housing projects was $11.0 million and $8.4 million, respectively. These balances are reflected in other assets on the consolidated balance sheet. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $8.5 million and $6.5 million at June 30, 2019 and December 31, 2018, respectively. The Company expects to fulfill these commitments over the next eight to ten years. During the three months ended June 30, 2019 and 2018, the Company recognized amortization expense of $172,000 and $122,000, respectively, which was included within income tax expense on the consolidated statements of income. During the six months ended June 30, 2019 and 2018, the Company recognized amortization expense of $345,000 and $243,000, respectively. Additionally, during the three months ended June 30, 2019 and 2018, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $197,000 and $138,000, respectively. During the six months ended June 30, 2019 and 2018, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $394,000 and $277,000, respectively. During the three and six months ended June 30, 2019 and 2018, the Company incurred no impairment losses. |
DERIVATIVES
DERIVATIVES | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives | 17. DERIVATIVES The Company periodically enters into written and purchased option derivative instruments to facilitate an equity linked time deposit product (the Power CD). The Power CD is a time deposit that provides the purchaser a guaranteed return of principal at maturity plus a potential equity return (a written option), while Home Savings receives a known stream of funds based on the equity return (a purchased option). The written and purchased options are mirror derivative instruments which are carried at fair value on the consolidated statements of financial condition. Summary information about purchased and written options is as follows: June 30, 2019 December 31, 2018 (Dollars in thousands) Notional amount of purchased/written option $ 12,882 $ 13,024 Weighted average maturity 1.0 years 1.6 years Fair value of purchased/written option $ 279 $ 261 Purchased and written options are mirror derivative instruments and as such the changes in fair value are recorded through noninterest income, and offset each other. These options increased in value $18,000 in 2019 and decreased in value by $548,000 in 2018. The following table reflects the fair value and location in the consolidated statement of financial condition of interest rate caps, along with purchased and written certificates of deposit options: Included in other assets: June 30, 2019 December 31, 2018 (Dollars in thousands) Freestanding derivative assets not designated as hedges: Purchased certificate of deposit option $ 279 $ 261 Included in other liabilities: June 30, 2019 December 31, 2018 (Dollars in thousands) Freestanding derivative liabilities not designated as hedges: Written certificate of deposit option $ 279 $ 261 The Company is subject to counterparty risk. Counterparty risk is the risk to the Company that the counterparty will not live up to its contractual obligations. The ability of the Company to realize the benefit of the derivative contracts is dependent on the creditworthiness of the counterparty, which the Company expects will perform in accordance with the terms of the contracts. Interest Rate Swaps The Company maintains an interest rate protection program for commercial loan customers, which was established in 2018. Under this program, the Company provides a customer with a fixed rate loan while creating a variable rate asset for the Company by the customer entering into an interest rate swap with terms that match the loan. The Company offsets its risk exposure by entering into an offsetting interest rate swap with an unaffiliated institution. The Company had interest rate swaps associated with commercial loans with a notional value of $2.5 million and fair value of $121,000 in other assets and $133,000 in other liabilities. The difference in fair value of $12,000 between the asset and liability accounts represents a credit valuation adjustment that flows through noninterest income in the first half of 2019. At December 31, 2018 the Company had interest rate swaps associated with commercial loans with a notional value of $2.5 million and fair value of $56,000 in other assets and $62,000 in other liabilities. The difference in fair value of $6,000 between the asset and liability accounts represents a credit valuation adjustment that flows through noninterest income during 2018. These interest rate swaps did not have a material impact on the Company’s statements of operation or financial condition. |
LEASES
LEASES | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
LEASES | 18. LEASES As of January 1, 2019, when the Company adopted ASU 2016-02 prospectively, operating leases are recorded as a right of use (“ROU”) asset and operating lease liability, included in other assets and other liabilities, respectively, on the consolidated balance sheet. Operating lease ROU assets represent the right to use an underlying asset during the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the incremental borrowing rate at the lease commencement date. Operating lease expense, which is comprised of amortization of the amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight line basis over the lease term and is recorded primarily in net occupancy expense in the consolidated statements of comprehensive income. Operating leases relate primarily to bank branches, office space and license agreements with remaining lease terms of generally one to 23 years, which includes options for multiple extensions, with a weighted-average lease term of 7 years. As of June 30, 2019, operating lease ROU assets and liabilities were $4.8 million and $5.2 million, respectively. During the quarter ended June 30, 2019, a new lease was signed which added $242,000 to both the ROU asset and operating lease liability. The lease expense for operating leases was $343,000 and $661,000 for the three and six months ended June 30, 2019. The weighted average discount rate was 2.68% as of June 30, 2019. The right of use asset amortized $298,000 and $626,000 during the three and six months ended June 30, 2019. Short-term lease expense was $31,000 and $62,000 for the three and six months ended June 30, 2019. Future minimum lease payments under non-cancellable leases with initial or remaining lease terms in excess of one year at June 30, 2019 are as follows: Year (Dollars in thousands) Remainder of 2019 $ 667 2020 1,231 2021 994 2022 779 2023 424 2024 and thereafter 1,626 Total lease payments 5,721 Less: Interest (519 ) Present value of lease liabilities $ 5,202 Rent expense was $259,000 and $542,000 for the three and six months ended June 30, 2018. Rent commitments under noncancelable operating leases for offices were as follows as of December 31, 2018, before considering renewal options that generally are present: Year (Dollars in thousands) 2019 $ 1,085 2020 949 2021 892 2022 651 2023 346 Thereafter 867 Total $ 4,790 |
RECENT ACCOUNTING DEVELOPMENTS
RECENT ACCOUNTING DEVELOPMENTS (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Changes And Error Corrections [Abstract] | |
Leases | In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) Codification Improvements to Topic 842, Leases, Leases (Topic 842): Targeted Improvements Leases (Topic 842): Narrow – Scope Improvements for Lessors. |
Measurement of Credit Losses on Financial Instruments | In June 2016, the FASB Issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 Codification Improvements to Topic 326, Financial Instruments – Credit Losses. |
Simplifying the Test for Goodwill Impairment | In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. |
Premium Amortization on Purchased Callable Debt Securities | In March 2017, the FASB issued Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. |
Distinguishing Liabilities from Equity, Derivatives and Hedging | In July 2017, the FASB ASU No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815) : (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. ASU 2017-11 simplifies the accounting for certain financial instruments with down round features, a provision in an equity-linked financial instrument (or embedded feature) that provides a downward adjustment of the current exercise price based on the price of future equity offerings. The new ASU will require companies to disregard the down round feature when assessing whether the instrument is indexed to its own stock, for purposes of determining liability or equity classification. Companies that provide earnings per share (EPS) data will adjust their basic EPS calculation for the effect of the feature when triggered (i.e., when the exercise price of the related equity-linked financial instrument is adjusted downward because of the down round feature) and will also recognize the effect of the trigger within equity. The provisions of the new ASU related to down rounds are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted for all entities. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. |
Targeted Improvements to Accounting for Hedging Activities | In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. |
Improvements to Nonemployee Share-Based Payment Accounting | In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Compensation—Stock Compensation Equity—Equity-Based Payments to Non-Employees. |
Changes to the Disclosure Requirements for Fair Value Measurement | In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. |
STOCK COMPENSATION (Tables)
STOCK COMPENSATION (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Option Activity in 2015 Plan, 2007 Plan and 1999 Plan | A summary of option activity for the six months ended June 30, 2019 in the 2015 Plan, the 2007 Plan and the 1999 Plan is as follows: For the six months ended June 30, 2019 Weighted Aggregate average intrinsic value Shares exercise price (in thousands) Outstanding at beginning of year 223,432 $ 3.93 Granted — — Exercised (59,600 ) 2.03 Forfeited and expired — — Outstanding at end of period 163,832 4.63 $ 815 Shares subject to options exercisable at end of period 163,832 4.63 $ 815 |
Information Related to Stock Options | Information related to stock options for the six months ended June 30, 2019 and 2018 follows: June 30, 2019 June 30, 2018 Intrinsic value of options exercised $ 438,540 $ 450,486 Cash received from option exercises 122,000 232,000 Tax benefit realized from option exercises 15,565 67,298 Weighted average fair value of options granted, per share $ — $ 1.54 |
Information Related to Stock Options Granted | Information related to stock options granted during the six months ended June 30, 2018 were as follows: Six Months Ended June 30, 2018 Risk-free interest rate 2.69 % Expected term (years) 5 Expected stock volatility 19.86 % Dividend yield 2.48 % |
Summary of Changes in Company's Nonvested Restricted Shares | A summary of changes in the Company’s nonvested restricted shares for the six months ended June 30, 2019 is as follows: For the six months ended June 30, 2019 Weighted average grant date Shares fair value Nonvested at beginning of year 210,713 $ 8.15 Granted 30,458 $ 9.42 Vested (116,959 ) $ 6.92 Forfeited (834 ) $ 9.10 Nonvested shares at end of period 123,378 $ 9.63 |
SECURITIES (Tables)
SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Components of Available for Sale Portfolio | Components of the available for sale portfolio are as follows: June 30, 2019 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and agency securities $ 64,337 $ 1,453 $ 65,790 States and municipalities 35,085 940 36,025 Corporate debt securities 13,204 159 (3 ) 13,360 Collateralized mortgage obligations (CMO) 54,773 1,356 (22 ) 56,107 Mortgage-backed securities (MBS) 149,168 265 (1,706 ) 147,727 Total $ 316,567 $ 4,173 $ (1,731 ) $ 319,009 December 31, 2018 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and agency securities $ 97,785 $ — $ (2,204 ) $ 95,581 States and municipalities 48,167 107 (528 ) 47,746 Corporate debt securities 2,000 4 — 2,004 Collateralized mortgage obligations (CMO) 21,979 143 (14 ) 22,108 Mortgage-backed securities (MBS) 76,495 23 (2,314 ) 74,204 Total $ 246,426 $ 277 $ (5,060 ) $ 241,643 |
Components of Held to Maturity Securities Portfolio | Components of the held to maturity securities portfolio at December 31, 2018 are as follows: December 31, 2018 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed securities (MBS) $ 64,442 $ — $ (2,327 ) $ 62,115 States and municipalities 13,049 20 (109 ) 12,960 Total $ 77,491 $ 20 $ (2,436 ) $ 75,075 |
Available For Sale Securities [Member] | |
Debt Securities by Contractual Maturity | Debt securities available for sale by contractual maturity, repricing or expected call date are shown below: June 30, 2019 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ 2,000 $ 2,021 Due after one year through five years 19,010 19,349 Due after five years through ten years 60,026 61,309 Due after ten years 31,590 32,496 MBS and CMO 203,941 203,834 Total $ 316,567 $ 319,009 |
Securities Available for Sale and Held to Maturity in Unrealized and Unrecognized Loss Position | Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at June 30, 2019 are as follows: June 30, 2019 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and agency securities $ — $ — $ — $ — $ — $ — States and municipalities — — — — — — Corporate debt securities 503 (3 ) — — 503 (3 ) Collateralized mortgage obligations (CMO) 7,803 (22 ) — — 7,803 (22 ) Mortgage-backed securities (MBS) — — 108,254 (1,706 ) 108,254 (1,706 ) Total temporarily impaired securities $ 8,306 $ (25 ) $ 108,254 $ (1,706 ) $ 116,560 $ (1,731 ) December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and agency securities $ — $ — $ 95,581 $ (2,204 ) $ 95,581 $ (2,204 ) States and municipalities 9,475 (39 ) 24,850 (489 ) 34,325 (528 ) Collateralized mortgage obligations (CMO) 5,475 (14 ) — — 5,475 (14 ) Mortgage-backed securities (MBS) — — 73,542 (2,314 ) 73,542 (2,314 ) Total temporarily impaired securities $ 14,950 $ (53 ) $ 193,973 $ (5,007 ) $ 208,923 $ (5,060 ) |
Held To Maturity Securities [Member] | |
Securities Available for Sale and Held to Maturity in Unrealized and Unrecognized Loss Position | Securities held to maturity that have been in an unrecognized loss position for less than twelve months or twelve months or more are as follows: December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: Mortgage-backed securities (MBS) $ — $ — $ 62,115 $ (3,203 ) $ 62,115 $ (3,203 ) States and municipalities 4,253 (48 ) 3,525 (69 ) 7,778 (117 ) Total temporarily impaired securities $ 4,253 $ (48 ) $ 65,640 $ (3,272 ) $ 69,893 $ (3,320 ) |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Schedule of Portfolio of Loans | Portfolio loans consist of the following: June 30, December 31, 2019 2018 (Dollars in thousands) Commercial loans Multifamily $ 154,630 $ 134,143 Nonresidential 414,780 409,979 Land 16,955 16,830 Construction 138,043 141,686 Secured 243,044 233,306 Unsecured 6,854 6,987 Total commercial loans 974,306 942,931 Residential mortgage loans One-to four-family 942,698 927,255 Construction 46,196 43,435 Total residential mortgage loans 988,894 970,690 Consumer loans Home equity 184,676 185,661 Auto 82,715 78,686 Marine 1,097 1,206 Recreational vehicle 3,433 4,347 Other 7,610 7,141 Total consumer loans 279,531 277,041 Total loans 2,242,731 2,190,662 Less: Allowance for loan losses 20,482 20,443 Deferred loan costs, net (7,077 ) (6,623 ) Total 13,405 13,820 Loans, net $ 2,229,326 $ 2,176,842 |
Investment in Loans by Portfolio Segment and Based on Impairment | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and are based on impairment method as of June 30, 2019 and December 31, 2018 and activity for the three and six months ended June 30, 2019 and 2018. Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended June 30, 2019 Beginning balance $ 12,114 $ 5,823 $ 2,509 $ 20,446 Provision (recovery) 263 (312 ) (2 ) (51 ) Charge-offs — (79 ) (115 ) (194 ) Recoveries 170 26 85 281 Ending balance $ 12,547 $ 5,458 $ 2,477 $ 20,482 For the six months ended June 30, 2019 Beginning balance $ 11,875 $ 5,923 $ 2,645 $ 20,443 Provision 444 (490 ) 56 10 Charge-offs (88 ) (99 ) (440 ) (627 ) Recoveries 316 124 216 656 Ending balance $ 12,547 $ 5,458 $ 2,477 $ 20,482 As of June 30, 2019 Period-end amount allocated to: Loans individually evaluated for impairment $ 857 $ 669 $ 290 1,816 Loans collectively evaluated for impairment 11,690 4,789 2,187 18,666 Ending balance $ 12,547 $ 5,458 $ 2,477 $ 20,482 Period-end balances: Loans individually evaluated for impairment 7,680 12,402 5,057 25,139 Loans collectively evaluated for impairment 966,626 976,492 274,474 2,217,592 Ending balance $ 974,306 $ 988,894 $ 279,531 $ 2,242,731 Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total For the three months ended June 30, 2018 Beginning balance $ 13,095 $ 5,701 $ 2,814 $ 21,610 Provision (recovery) (263 ) 180 (55 ) (138 ) Charge-offs (75 ) (96 ) (83 ) (254 ) Recoveries 51 82 54 187 Ending balance $ 12,808 $ 5,867 $ 2,730 $ 21,405 For the six months ended June 30, 2018 Beginning balance $ 12,542 $ 5,860 $ 2,800 $ 21,202 Provision 133 87 49 269 Charge-offs (75 ) (181 ) (269 ) (525 ) Recoveries 208 101 150 459 Ending balance $ 12,808 $ 5,867 $ 2,730 $ 21,405 As of December 31, 2018 Period-end amount allocated to: Loans individually evaluated for impairment $ 103 $ 798 $ 300 1,201 Loans collectively evaluated for impairment 11,772 5,125 2,345 19,242 Ending balance $ 11,875 $ 5,923 $ 2,645 $ 20,443 Period-end balances: Loans individually evaluated for impairment 2,017 13,086 5,491 20,594 Loans collectively evaluated for impairment 940,914 957,604 271,550 2,170,068 Ending balance $ 942,931 $ 970,690 $ 277,041 $ 2,190,662 |
Presentation of Loans Individually Evaluated for Impairment by Class | The following table presents loans individually evaluated for impairment by class of loans as of and for six months ended June 30, 2019: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 155 $ — $ — $ 57 $ 1 $ 1 Nonresidential 2,942 2,801 — 1,019 17 17 Land — — — — — — Construction 2,446 — — — — — Secured 235 — — — — — Unsecured 474 — — — — — Total commercial loans 6,252 2,801 — 1,076 18 18 Residential mortgage loans One-to four-family 5,579 4,792 — 4,672 64 55 Construction — — — — — — Total residential mortgage loans 5,579 4,792 — 4,672 64 55 Consumer loans Home equity 1,041 926 — 912 7 6 Auto 33 25 — 19 — — Marine 354 105 — 118 — — Recreational vehicle 386 49 — 95 4 4 Other — — — — — — Total consumer loans 1,814 1,105 — 1,144 11 10 Total $ 13,645 $ 8,698 $ — $ 6,892 $ 93 $ 83 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential — — — 1,301 45 37 Land — — — — — — Construction — — — — — — Secured 5,654 4,879 857 1,947 137 137 Unsecured — — — — — — Total commercial loans 5,654 4,879 857 3,248 182 174 Residential mortgage loans One-to four-family 7,741 7,610 669 8,077 239 202 Construction — — — — — — Total residential mortgage loans 7,741 7,610 669 8,077 239 202 Consumer loans Home equity 3,620 3,535 274 3,680 110 97 Auto — — — — — — Marine 86 86 1 89 2 2 Recreational vehicle 343 331 15 314 11 10 Other — — — — — — Total consumer loans 4,049 3,952 290 4,083 123 109 Total 17,444 16,441 1,816 15,408 544 485 Total impaired loans $ 31,089 $ 25,139 $ 1,816 $ 22,300 $ 637 $ 568 The following table presents loans individually evaluated for impairment by class of loans as of and for six months ended June 30, 2018: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 28 $ — $ — $ — $ — $ — Nonresidential 630 137 — 100 4 4 Land 706 — — 6 — — Construction 2,457 — — — — — Secured 1,115 907 — 901 — — Unsecured 184 — — — — — Total commercial loans 5,120 1,044 — 1,007 4 4 Residential mortgage loans One-to four-family 6,918 5,994 — 5,602 74 58 Construction — — — — — — Total residential mortgage loans 6,918 5,994 — 5,602 74 58 Consumer loans Home equity 1,496 1,224 — 1,087 11 10 Auto 29 22 — 33 — — Marine 553 181 — 181 — — Recreational vehicle 520 100 — 122 4 4 Other 1 — — 6 — — Total consumer loans 2,599 1,527 — 1,429 15 14 Total $ 14,637 $ 8,565 $ — $ 8,038 $ 93 $ 76 With a specific allowance recorded Commercial loans Multifamily $ 422 $ 275 $ 28 $ 275 $ — $ — Nonresidential 1,235 1,232 13 1,356 52 44 Land — — — — — — Construction — — — — — — Secured 819 568 473 579 — — Unsecured — — — — — — Total commercial loans 2,476 2,075 514 2,210 52 44 Residential mortgage loans One-to four-family 8,574 8,461 834 9,793 233 195 Construction — — — — — — Total residential mortgage loans 8,574 8,461 834 9,793 233 195 Consumer loans Home equity 4,282 4,201 295 4,505 123 110 Auto — — — — — — Marine 95 95 1 97 2 2 Recreational vehicle 393 381 17 393 11 10 Other — — — — — — Total consumer loans 4,770 4,677 313 4,995 136 122 Total 15,820 15,213 1,661 16,998 421 361 Total impaired loans $ 30,457 $ 23,778 $ 1,661 $ 25,036 $ 514 $ 437 The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2018: Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no specific allowance recorded Commercial loans Multifamily $ 443 $ 170 $ — Nonresidential 588 130 — Land — — — Construction 2,447 — — Secured 806 — — Unsecured 474 — — Total commercial loans 4,758 300 — Residential mortgage loans One-to four-family 5,840 4,908 — Construction — — — Total residential mortgage loans 5,840 4,908 — Consumer loans Home equity 1,084 957 — Auto 25 17 — Marine 502 145 — Recreational vehicle 592 172 — Other — — — Total consumer loans 2,203 1,291 — Total $ 12,801 $ 6,499 $ — With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 1,186 1,186 12 Land — — — Construction — — — Secured 989 531 91 Unsecured — — — Total commercial loans 2,175 1,717 103 Residential mortgage loans One-to four-family 8,298 8,178 798 Construction — — — Total residential mortgage loans 8,298 8,178 798 Consumer loans Home equity 3,925 3,842 283 Auto — — — Marine 91 91 1 Recreational vehicle 279 267 16 Other — — — Total consumer loans 4,295 4,200 300 Total 14,768 14,095 1,201 Total impaired loans $ 27,569 $ 20,594 $ 1,201 The following table presents loans individually evaluated for impairment by class of loans for the three months ended June 30, 2019: Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ — $ — Nonresidential 1,464 16 16 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1,464 16 16 Residential mortgage loans One-to four-family 4,554 35 35 Construction — — — Total residential mortgage loans 4,554 35 35 Consumer loans Home equity 889 6 6 Auto 20 — — Marine 105 — — Recreational vehicle 56 2 2 Other — — — Total consumer loans 1,070 8 8 Total $ 7,088 $ 59 $ 59 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 1,359 — — Land — — — Construction — — — Secured 2,656 134 134 Unsecured — — — Total commercial loans 4,015 134 134 Residential mortgage loans One-to four-family 8,027 92 91 Construction — — — Total residential mortgage loans 8,027 92 91 Consumer loans Home equity 3,600 49 48 Auto — — — Marine 88 1 1 Recreational vehicle 338 5 5 Other — — — Total consumer loans 4,026 55 54 Total 16,068 281 279 Total impaired loans $ 23,156 $ 340 $ 338 The following table presents loans individually evaluated for impairment by class of loans for the three months ended June 30, 2018: Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 78 1 1 Land 5 — — Construction — — — Secured 905 — — Unsecured — — — Total commercial loans 988 1 1 Residential mortgage loans One-to four-family 5,683 30 30 Construction — — — Total residential mortgage loans 5,683 30 30 Consumer loans Home equity 1,101 6 6 Auto 42 — — Marine 181 — — Recreational vehicle 108 2 2 Other 8 — — Total consumer loans 1,440 8 8 Total $ 8,111 $ 39 $ 39 With a specific allowance recorded Commercial loans Multifamily $ 275 $ — $ — Nonresidential 1,323 22 22 Land — — — Construction — — — Secured 563 — — Unsecured — — — Total commercial loans 2,161 22 22 Residential mortgage loans One-to four-family 9,340 98 96 Construction — — — Total residential mortgage loans 9,340 98 96 Consumer loans Home equity 4,338 57 56 Auto — — — Marine 96 1 1 Recreational vehicle 387 5 5 Other — — — Total consumer loans 4,821 63 62 Total 16,322 183 180 Total impaired loans $ 24,433 $ 222 $ 219 |
Loans in Process of Foreclosure | The table below presents loans that are in the process of foreclosure at June 30, 2019 and December 31, 2018, but legal title, deed in lieu of foreclosure or similar legal agreement to the property has not yet been obtained: June 30, 2019 December 31, 2018 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment (Dollars in thousands) (Dollars in thousands) Mortgage loans in process of foreclosure $ 3,847 $ 3,686 $ 3,687 $ 3,636 Consumer loans in process of foreclosure 358 350 700 685 |
Presentation of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days and Still on Accrual by Class of Loans | The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans as of June 30, 2019: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of June 30, 2019 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ — $ — Nonresidential 2,688 — Land — — Construction — — Secured 4,678 — Unsecured — — Total commercial loans 7,366 — Residential mortgage loans One-to four-family 4,365 — Construction — — Total residential mortgage loans 4,365 — Consumer Loans Home equity 936 — Auto 57 — Marine 105 — Recreational vehicle 34 — Other 9 — Total consumer loans 1,141 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 12,872 $ — The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans as of December 31, 2018: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of December 31, 2018 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ 171 $ — Nonresidential 13 — Land — — Construction — — Secured 531 — Unsecured — — Total commercial loans 715 — Residential mortgage loans One-to four-family 4,170 — Construction — — Total residential mortgage loans 4,170 — Consumer Loans Home equity 1,223 — Auto 131 — Marine 145 — Recreational vehicle 145 — Other 10 — Total consumer loans 1,654 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 6,539 $ — |
Presentation of Age Analysis of Past-Due Loans, Segregated by Class of Loans | The following table presents an age analysis of past-due loans, segregated by class of loans as of June 30, 2019: Past Due Loans (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Loans Total Loans Commercial loans Multifamily $ — $ — $ — $ — $ 154,630 $ 154,630 Nonresidential 104 1,681 — 1,785 412,995 414,780 Land — — — — 16,955 16,955 Construction — — — — 138,043 138,043 Secured 24 44 427 495 242,549 243,044 Unsecured — — — — 6,854 6,854 Total commercial loans 128 1,725 427 2,280 972,026 974,306 Residential mortgage loans One-to four-family 3,059 765 3,867 7,691 935,007 942,698 Construction — — — — 46,196 46,196 Total residential mortgage loans 3,059 765 3,867 7,691 981,203 988,894 Consumer Loans: Home equity 1,166 319 893 2,378 182,298 184,676 Automobile 254 49 57 360 82,355 82,715 Marine — — 105 105 992 1,097 Recreational vehicle 59 73 34 166 3,267 3,433 Other 31 11 9 51 7,559 7,610 Total consumer loans 1,510 452 1,098 3,060 276,471 279,531 Total loans $ 4,697 $ 2,942 $ 5,392 $ 13,031 $ 2,229,700 $ 2,242,731 The following table presents an age analysis of past-due loans, segregated by class of loans as of December 31, 2018: Past Due Loans (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Loans Total Loans Commercial loans Multifamily $ — $ — $ 171 $ 171 $ 133,972 $ 134,143 Nonresidential — — — — 409,979 409,979 Land — — — — 16,830 16,830 Construction — — — — 141,686 141,686 Secured 195 — 531 726 232,580 233,306 Unsecured — — — — 6,987 6,987 Total commercial loans 195 — 702 897 942,034 942,931 Residential mortgage loans One-to four-family 2,139 882 3,470 6,491 920,764 927,255 Construction — — — — 43,435 43,435 Total residential mortgage loans 2,139 882 3,470 6,491 964,199 970,690 Consumer Loans: Home equity 658 295 1,147 2,100 183,561 185,661 Automobile 283 112 131 526 78,160 78,686 Marine — — 145 145 1,061 1,206 Recreational vehicle 548 — 145 693 3,654 4,347 Other 33 — 10 43 7,098 7,141 Total consumer loans 1,522 407 1,578 3,507 273,534 277,041 Total loans $ 3,856 $ 1,289 $ 5,750 $ 10,895 $ 2,179,767 $ 2,190,662 |
Loans by Class Modified as Troubled Debt Restructurings | The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2019: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured 1 824 824 Unsecured — — — Total commercial loans 1 824 824 Residential mortgage loans One-to four-family — — — Construction — — — Total residential mortgage loans — — — Consumer loans Home equity 1 40 44 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 1 40 44 Total restructured loans 2 $ 864 $ 868 The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2019: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured 1 824 824 Unsecured — — — Total commercial loans 1 824 824 Residential mortgage loans One-to four-family 1 335 355 Construction — — — Total residential mortgage loans 1 335 355 Consumer loans Home equity 1 40 44 Auto — — — Marine — — — Recreational vehicle Other — — — Total consumer loans 1 40 44 Total restructured loans 3 $ 1,199 $ 1,223 The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2018: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 3 521 547 Construction — — — Total residential mortgage loans 3 521 547 Consumer loans Home equity 2 113 113 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 2 113 113 Total restructured loans 5 $ 634 $ 660 The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2018: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 124 124 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 124 124 Residential mortgage loans One-to four-family 3 521 547 Construction — — — Total residential mortgage loans 3 521 547 Consumer loans Home equity 2 113 113 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 2 113 113 Total restructured loans 6 $ 758 $ 784 |
Loans by Class Modified as Troubled Debt Restructurings with Payment Default | The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve month cycle following the modification during the period ended June 30, 2018: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential 1 121 Land — — Construction — — Secured — — Unsecured — — Total commercial loans 1 121 Residential mortgage loans One-to four-family 2 357 Construction — — Total residential mortgage loans 2 357 Consumer loans Home equity — — Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans — — Total restructured loans 3 $ 478 |
Risk Category of Loans by Class of Loans | As of June 30, 2019 and December 31, 2018, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: June 30, 2019 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 142,730 $ 10,824 $ 1,076 $ — $ — $ 1,076 $ 154,630 Nonresidential 389,262 15,346 10,172 — — 10,172 414,780 Land 16,955 — — — — — 16,955 Construction 135,658 2,385 — — — — 138,043 Secured 220,556 3,065 19,423 — — 19,423 243,044 Unsecured 6,771 — 83 — — 83 6,854 Total commercial loans 911,932 31,620 30,754 — — 30,754 974,306 Residential mortgage loans One-to four-family 937,532 96 5,070 — — 5,070 942,698 Construction 46,196 — — — — — 46,196 Total residential mortgage loans 983,728 96 5,070 — — 5,070 988,894 Consumer Loans Home equity 183,700 — 976 — — 976 184,676 Auto 82,658 — 57 — — 57 82,715 Marine 992 — 105 — — 105 1,097 Recreational vehicle 3,399 — 34 — — 34 3,433 Other 7,597 — 13 — — 13 7,610 Total consumer loans 278,346 — 1,185 — — 1,185 279,531 Total loans $ 2,174,006 $ 31,716 $ 37,009 $ — $ — $ 37,009 $ 2,242,731 December 31, 2018 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 133,972 $ — $ 171 $ — $ — $ 171 $ 134,143 Nonresidential 378,160 18,420 13,399 — — 13,399 409,979 Land 16,830 — — — — — 16,830 Construction 139,540 2,146 — — — — 141,686 Secured 214,924 2,184 16,198 — — 16,198 233,306 Unsecured 6,894 — 93 — — 93 6,987 Total commercial loans 890,320 22,750 29,861 — — 29,861 942,931 Residential mortgage loans One-to four-family 921,694 591 4,970 — — 4,970 927,255 Construction 43,435 — — — — — 43,435 Total residential mortgage loans 965,129 591 4,970 — — 4,970 970,690 Consumer Loans Home equity 184,438 — 1,223 — — 1,223 185,661 Auto 78,551 — 135 — — 135 78,686 Marine 1,061 — 145 — — 145 1,206 Recreational vehicle 4,221 — 126 — — 126 4,347 Other 7,131 — 10 — — 10 7,141 Total consumer loans 275,402 — 1,639 — — 1,639 277,041 Total loans $ 2,130,851 $ 23,341 $ 36,470 $ — $ — $ 36,470 $ 2,190,662 |
Accretable Yield or Income Expected to be Collected | Accretable yield, or income expected to be collected, is as follows: Three Months Ended Three Months Ended For the six months ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) (Dollars in thousands) Beginning of period $ — $ 110 $ — $ 110 Accretion of income — 6 — 6 Balance at end of period $ — $ 104 $ — $ 104 |
Carrying Amount of Purchased Credit Impaired Loans | Income is not recognized on purchased credit impaired loans if the Company cannot reasonably estimate cash flows expected to be collected. The carrying amounts of such loans are as follows: June 30, 2019 June 30, 2018 (Dollars in thousands) Loans at beginning of period $ — $ 1,194 Loans purchased during the period — — Loans at end of period — 1,091 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Mortgage Banking [Abstract] | |
Principal Balances of Mortgage Servicing Rights | The principal balances of mortgage loans serviced for others are as follows: June 30, 2019 December 31, 2018 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 1,018,365 $ 1,016,097 FNMA 395,438 347,294 Private investor 11,641 15,049 |
Capitalized Mortgage Servicing Rights | Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance, beginning of period $ 8,041 $ 6,843 $ 7,704 $ 6,681 Originations 703 641 1,486 1,303 Amortized to expense (553 ) (542 ) (999 ) (1,042 ) Balance, end of period 8,191 6,942 8,191 6,942 Less valuation allowance (1,565 ) (20 ) (1,565 ) (20 ) Net balance $ 6,626 $ 6,922 $ 6,626 $ 6,922 |
Valuation Allowance for Mortgage Servicing Rights | Activity in the valuation allowance for mortgage servicing rights was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance, beginning of period $ (569 ) $ — $ (70 ) $ (9 ) Impairment charges (996 ) (20 ) (1,495 ) (20 ) Recoveries — — — 9 Balance, end of period $ (1,565 ) $ (20 ) $ (1,565 ) $ (20 ) |
Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights | Key economic assumptions in measuring the value of mortgage servicing rights at June 30, 2019, and December 31, 2018, were as follows: June 30, 2019 December 31, 2018 Weighted average prepayment rate 266 PSA 145 PSA Weighted average life (in years) 5.27 7.26 Weighted average discount rate 11.00% 11.00% |
OTHER REAL ESTATE OWNED AND O_2
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Real Estate [Abstract] | |
Real Estate Owned and Other Repossessed Assets | Real estate owned and other repossessed assets at June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 December 31, 2018 (Dollars in thousands) Real estate owned and other repossessed assets $ 1,113 $ 1,396 Valuation allowance (158 ) (308 ) End of period $ 955 $ 1,088 |
Valuation Allowance Related to Real Estate Owned | Activity in the valuation allowance was as follows: Three Months Ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) Beginning of period $ 318 $ 287 $ 308 $ 403 Additions charged to expense 17 10 36 33 Sales of real estate owned with a valuation allowance (177 ) (49 ) (186 ) (188 ) End of period $ 158 $ 248 $ 158 $ 248 |
Expenses Related to Foreclosed and Repossessed Assets | Expenses related to foreclosed and repossessed assets include: Three Months Ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) Net loss on sales $ 16 $ 103 $ 28 $ 158 Provision for unrealized losses 17 10 36 33 Operating expenses, net of rental income 17 34 56 70 Total expenses $ 50 $ 147 $ 120 $ 261 |
FAIR VALUE MEASUREMENT (Tables)
FAIR VALUE MEASUREMENT (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and Liabilities Measured on a Recurring Basis: Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements at June 30, 2019 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable June 30, Assets Inputs Inputs 2019 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Trading securities $ 705 $ 234 $ 471 $ — Available for sale securities U.S. Treasury and agency securities 65,790 — 65,790 — States and municipalities 36,025 — 36,025 — Corporate debt securities 13,360 — 13,360 — Collateralized mortgage obligations 56,107 — 56,107 — Mortgage-backed securities 147,727 — 147,727 — Loans held for sale, at fair value 97,477 — 27,912 69,565 Purchased certificate of deposit option 279 — 279 — Interest rate swaps 121 — 121 — Liabilities Written certificate of deposit option 279 — 279 — Interest rate swaps 133 — 133 — Fair Value Measurements at December 31, 2018 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Trading securities $ 364 $ 364 — — Available for sale securities U.S. Treasury and agency securities 95,581 — 95,581 — States and municipalities 47,746 — 47,746 — Corporate debt securities 2,004 — 2,004 — Collateralized mortgage obligations 22,108 — 22,108 — Mortgage-backed securities 74,204 — 74,204 — Loans held for sale, at fair value 91,472 — 11,221 80,251 Purchased certificate of deposit option 261 — 261 — Interest rate swaps 56 — 56 — Liabilities Written certificate of deposit option 261 — 261 — Interest rate swaps 62 — 62 — |
Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) | The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended June 30, 2019 and 2018. Loans Held for Sale, At Fair Value For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 65,796 $ 64,552 $ 80,251 $ 65,016 Total gains (losses) for the period Included in change in fair value of loans held for sale 1,581 19 2,650 (2,139 ) Included in other comprehensive income — — — — Originations/Draws on construction perm loans 30,633 35,517 53,730 62,327 Amortization — — — — Sales (28,445 ) (23,398 ) (67,066 ) (48,514 ) Balance of recurring Level 3 assets at end of period $ 69,565 $ 76,690 $ 69,565 $ 76,690 |
Assets and Liabilities Measured at Fair Value on Non-recurring Basis | Assets and Liabilities Measured on a Non-Recurring Basis: Assets and liabilities measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2019 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable June 30, Assets Inputs Inputs 2019 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Secured Commercial 3,807 — — 3,807 Residential loans One-to four-family residential 241 — — 241 Consumer loans Marine 105 — — 105 Recreational vehicle 4 — — 4 Mortgage servicing rights 2,610 — 2,610 — Other real estate owned, net Commercial loans Construction loans 63 — — 63 Residential loans One-to four-family residential 66 — — 66 Fair Value Measurements at December 31, 2018 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Secured $ 419 $ — $ — $ 419 Residential loans One-to four-family residential 540 — — 540 Consumer loans Auto 8 — — 8 Mortgage servicing rights 2,990 — 2,990 — Other real estate owned, net Commercial loans Auto 181 — — 181 Residential loans One-to four-family residential 121 — — 121 |
Fair Value Option for Newly Originated Residential Mortgage and Permanent Construction Loans Held for Sale | The Company has elected the fair value option for newly originated residential mortgage and permanent construction loans held for sale. These loans are intended for sale and the Company believes that fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 or more days past due nor on nonaccrual status as of June 30, 2019 and December 31, 2018. June 30, 2019 December 31, 2018 (Dollars in thousands) Aggregate fair value $ 97,477 $ 91,472 Contractual balance 90,495 87,731 Gain 6,982 3,741 |
Amount of Gains and Losses from Changes in Fair Value Included in Earnings | The total amount of gains and losses from changes in fair value included in earnings for the three and six months ended June 30, 2019 and 2018 for loans held for sale, at fair value were: For the Three Months Ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) Interest income $ — $ — $ — $ — Interest expense — — — — Change in fair value 2,162 285 3,241 (2,197 ) Total change in fair value $ 2,162 $ 285 $ 3,241 $ (2,197 ) |
Carrying Value and Estimated Fair Values of Financial Instruments | In accordance with U.S. GAAP, the carrying value and estimated fair values of financial instruments at June 30, 2019 and December 31, 2018, were as follows: Fair Value Measurements at June 30, 2019 Using: June 30, 2019 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 54,562 $ 54,562 $ — $ — Trading securities 705 234 471 — Available for sale securities 319,009 — 319,009 — Held to maturity securities — — — — Loans held for sale, at fair value 97,477 — 27,912 69,565 Loans, net 2,229,326 — — 2,225,425 Purchased certificate of deposit option 279 — 279 — Interest rate swaps 121 — 121 — Liabilities: Deposits: Checking, savings and money market accounts (1,427,080 ) (1,427,080 ) — — Certificates of deposit (832,099 ) — (832,695 ) — FHLB advances (233,000 ) — (233,000 ) — Repurchase agreements and other (146 ) — (143 ) — Written certificate of deposit option (279 ) — (279 ) — Interest rate swaps (133 ) — (133 ) — Fair Value Measurements at December 31, 2018 Using: December 31, 2018 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 60,985 $ 60,985 $ — $ — Trading securities 364 364 — — Available for sale securities 241,643 — 241,643 — Held to maturity securities 77,491 — 71,206 3,869 Loans held for sale, at fair value 91,472 — 11,221 80,251 Loans, net 2,176,842 — — 2,138,319 Purchased certificate of deposit option 261 — 261 — Interest rate swaps 56 56 — Liabilities: Deposits: Checking, savings and money market accounts (1,305,439 ) (1,305,439 ) — — Certificates of deposit (907,781 ) — (904,198 ) — FHLB advances (243,000 ) — (243,000 ) — Repurchase agreements and other (224 ) — (213 ) — Written certificate of deposit option (261 ) — (261 ) — Interest rate swaps (62 ) — (62 ) — |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | |
Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value | The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2019: Valuation Unobservable Fair Value Technique(s) Input(s) Range Construction loans held for sale $ 69,565 Comparable sales Time discount 0.00-0.39% The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2018: Valuation Unobservable Fair Value Technique(s) Input(s) Range Construction loans held for sale $ 80,251 Comparable sales Time discount 0.00-1.05% |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | |
Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2019: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Secured Commercial 3,807 Sales comparison approach Adjustment for differences between comparable sales 0.00-35.00% (15.00%) Residential loans One-to four-family residential 241 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Consumer loans Marine 105 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Recreational vehicle 4 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Other real estate owned, net Commercial loans Construction loans 63 Sales comparison approach Adjustment for differences between comparable sales 0.00%-50.00% (45.85%) Residential loans One-to four-family residential 66 Sales comparison approach Adjustment for differences between comparable sales 0.00%-14.22% (14.22%) The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2018: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Secured 419 Sales comparison approach Adjustment for differences between comparable sales 0.00%-64.00% (16.00%) Residential loans One-to four-family residential 540 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Other real estate owned: Commercial loans Construction loans 181 Sales comparison approach Adjustment for differences between comparable sales 0.00%-52.90% (52.41%) Residential loans One-to four-family residential 121 Sales comparison approach Adjustment for differences between comparable sales 0.00%-13.43% (13.43%) |
STATEMENT OF CASH FLOWS SUPPL_2
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosures of Cash Flow Information | Supplemental disclosures of cash flow information are summarized below. For the Six Months Ended June 30, 2019 2018 (Dollars in thousands) Supplemental disclosures of cash flow information Cash paid during the period for: Interest on deposits and borrowings $ 14,872 $ 10,016 Income taxes 7,125 500 Supplemental schedule of noncash activities: Transfers from loans to real estate owned and other repossessed assets 653 489 Transfer from held to maturity securities to available for sale securities 74,560 — Accretion of securities held to maturity 42 77 Right of use asset recorded 5,469 — |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands, except per share data) Net income per consolidated statements of income $ 10,486 $ 9,541 $ 19,142 $ 18,097 Net income allocated to participating securities (27 ) (41 ) (66 ) (91 ) Net income allocated to common stock $ 10,459 $ 9,500 $ 19,076 $ 18,006 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 3,407 $ 2,982 $ 6,827 $ 5,954 Undistributed earnings allocated to common stock 7,052 6,518 12,249 12,052 Net income allocated to common stock $ 10,459 $ 9,500 $ 19,076 $ 18,006 Weighted average common shares outstanding, including shares considered participating securities 48,589 49,906 48,805 49,877 Less: Average participating securities (126 ) (212 ) (167 ) (250 ) Weighted average shares 48,463 49,694 48,638 49,627 Basic earnings per common share $ 0.22 $ 0.19 $ 0.39 $ 0.36 Diluted earnings per common share computation: Net income allocated to common stock $ 10,459 $ 9,500 $ 19,076 $ 18,006 Weighted average common shares outstanding for basic earnings per common share 48,463 49,694 48,638 49,627 Add: Dilutive effects of assumed exercises of stock options and LTIP awards 181 250 201 262 Weighted average shares and dilutive potential common shares 48,644 49,944 48,839 49,889 Diluted earnings per common share $ 0.22 $ 0.19 $ 0.39 $ 0.36 |
OTHER COMPREHENSIVE INCOME (L_2
OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) Components and Related Tax Effects | Other comprehensive income (loss) components and related tax effects for the three-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total June 30, 2019 (Dollars in thousands) Balances at beginning of period, net of tax $ (785 ) $ (17,110 ) $ (521 ) $ (18,416 ) Other comprehensive income before reclassifications 3,344 — — 3,344 Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 9 9 Transfer of held to maturity securities to available for sale (512 ) — 512 — Reclassification adjustment for gains realized in income (117 ) — — (117 ) Net current period other comprehensive income 2,715 — 521 3,236 Balances at end of period, net of tax $ 1,930 $ (17,110 ) $ — $ (15,180 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total June 30, 2018 (Dollars in thousands) Balances at beginning of period, net of tax $ (4,924 ) $ (17,110 ) $ (641 ) $ (22,675 ) Other comprehensive income before reclassifications (1,359 ) — — (1,359 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 31 31 Reclassification adjustment for gains realized in income (74 ) — — (74 ) Net current period other comprehensive income (1,433 ) — 31 (1,402 ) Balances at end of period, net of tax $ (6,357 ) $ (17,110 ) $ (610 ) $ (24,077 ) Other comprehensive income (loss) components and related tax effects for the six-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total June 30, 2019 (Dollars in thousands) Balances at beginning of period, net of tax $ (3,781 ) $ (17,110 ) $ (545 ) $ (21,436 ) Other comprehensive income before reclassifications 6,454 — — 6,454 Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 33 33 Transfer of held to maturity securities to available for sale (512 ) — 512 — Reclassification adjustment for gains realized in income (231 ) — — (231 ) Net current period other comprehensive income 5,711 — 545 6,256 Balances at end of period, net of tax $ 1,930 $ (17,110 ) $ — $ (15,180 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Total June 30, 2018 (Dollars in thousands) Balances at beginning of period, net of tax $ (904 ) $ (17,110 ) $ (671 ) $ (18,685 ) Other comprehensive income before reclassifications (5,269 ) — (5,269 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 61 61 Reclassification adjustment for gains realized in income (184 ) — — (184 ) Net current period other comprehensive income (5,453 ) — 61 (5,392 ) Balances at end of period, net of tax $ (6,357 ) $ (17,110 ) $ (610 ) $ (24,077 ) |
Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) | The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended June 30, 2019: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (148 ) Net gains on securities 31 Tax expense Total reclassification during the period $ (117 ) Net of tax, increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended June 30, 2018: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (94 ) Net gains 20 Tax expense Total reclassification during the period $ (74 ) Net of tax, increase to net income The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the six months ended June 30, 2019: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (292 ) Net gains 61 Tax expense (231 ) Net of tax The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the six months ended June 30, 2018: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (233 ) Net gains on securities 49 Tax expense Total reclassification during the period $ (184 ) Net of tax, increase to net income |
REGULATORY CAPITAL REQUIREMEN_2
REGULATORY CAPITAL REQUIREMENTS (Tables) - Home Savings [Member] | 6 Months Ended |
Jun. 30, 2019 | |
Actual and Statutory Required Capital Amounts and Ratios | Actual and regulatory required capital ratios for Home Savings, along with the dollar amount of capital implied by such ratios, are presented below. June 30, 2019 To Be Well Capitalized Minimum Capital Under Prompt Requirements Corrective Action Actual Per Regulation Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 310,134 14.17 % $ 175,147 8.00 % $ 218,934 10.00 % Tier 1 capital (to risk-weighted assets) 289,697 13.23 % 131,360 6.00 % 175,147 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 289,697 13.23 % 98,520 4.50 % 142,307 6.50 % Tier 1 capital (to average assets)** 289,697 10.32 % 112,334 4.00 % 140,418 5.00 % December 31, 2018 To Be Well Capitalized Minimum Capital Under Prompt Requirements Corrective Action Actual Per Regulation Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 301,864 14.30 % $ 168,841 8.00 % $ 211,051 10.00 % Tier 1 capital (to risk-weighted assets) 281,475 13.34 % 126,631 6.00 % 168,841 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 281,475 13.34 % 94,973 4.50 % 137,183 6.50 % Tier 1 capital (to average assets)** 281,475 10.11 % 111,318 4.00 % 139,147 5.00 % ** Tier 1 Leverage Capital Ratio |
Components of Regulatory Capital | The components of Home Savings’ regulatory capital are as follows: June 30, 2019 December 31, 2018 Total shareholders' equity $ 295,306 $ 281,006 Add (deduct) Accumulated other comprehensive income 15,195 21,450 Intangible assets (20,804 ) (20,981 ) Tier 1 Capital 289,697 281,475 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 20,437 20,389 Total risk-based capital $ 310,134 $ 301,864 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the deferred tax assets and liabilities are as follows: June 30, December 31, 2019 2018 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 4,331 $ 4,293 Depreciation 314 363 Other real estate owned valuation 33 65 Unrealized loss on securities available for sale — 1,005 Unrealized loss on securities held to maturity — 184 Interest on nonaccrual loans 338 425 Net operating loss carryforward — 409 Accrued bonuses 719 840 Other 4 125 Deferred tax assets 5,739 7,709 Deferred tax liabilities: Deferred loan fees 1,645 1,512 Federal Home Loan Bank stock dividends 613 2,749 Mortgage servicing rights 1,391 1,603 Purchase accounting adjustment 199 62 Prepaid expenses 227 228 Unrealized gain on securities available for sale 513 — Deferred tax liabilities 4,588 6,154 Net deferred tax asset $ 1,151 $ 1,555 |
Summary of Difference in Effective Tax Rates and Statutory Federal Income Tax Rate of 21% | Effective tax rates differ from the statutory federal income tax rate of 21% for 2019 and 2018 due to the following: For the Three Months Ended June 30, 2019 2018 Dollars Rate Dollars Rate (Dollars in thousands) Tax at statutory rate: $ 2,686 21.00 % $ 2,469 21.00 % Increase (decrease) due to: Tax exempt income (33 ) (0.26 )% (147 ) (1.26 )% Increase (decrease) due to: Life insurance (83 ) (0.65 )% (91 ) (0.77 )% Stock compensation (22 ) (0.17 )% (4 ) (0.03 )% Reversal of disproportionate tax effect (145 ) (1.13 )% — — % Other (100 ) (0.78 )% (13 ) (0.11 )% Income tax provision $ 2,303 18.01 % $ 2,214 18.83 % For the Six Months Ended June 30, 2019 2018 Dollars Rate Dollars Rate (Dollars in thousands) Tax at statutory rate: $ 4,896 21.00 % $ 4,641 21.00 % Increase (decrease) due to: Tax exempt income (93 ) (0.40 )% (181 ) (0.82 )% Increase (decrease) due to: Life insurance (164 ) (0.70 )% (182 ) (0.82 )% Stock compensation (80 ) (0.34 )% (132 ) (0.60 )% Reversal of disproportionate tax effect (145 ) (0.62 )% — — % Other (243 ) (1.05 )% (143 ) (0.65 )% Income tax provision $ 4,171 17.89 % $ 4,003 18.11 % |
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Change in Goodwill | The change in goodwill during the periods presented is as follows: June 30, 2019 December 31, 2018 (In thousands) Beginning of the year $ 20,221 $ 20,221 Impairment — — End of the year $ 20,221 $ 20,221 |
Schedule of Acquired Intangible Assets | Acquired Intangible Assets: June 30, 2019 December 31, 2018 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Amortized intangible assets: Core deposit intangibles $ 11,184 $ 9,745 $ 11,184 $ 9,581 Customer list intangible 2,547 424 2,547 333 Total $ 13,731 $ 10,169 $ 13,731 $ 9,914 |
Estimated Amortization Expense | Estimated amortization expense for the remainder of 2019 and the next five years is as follows: Remainder of 2019 $ 255,000 2020 510,000 2021 510,000 2022 510,000 2023 510,000 2024 510,000 |
DERIVATIVES (Tables)
DERIVATIVES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary Information About Purchased and Written Options | Summary information about purchased and written options is as follows: June 30, 2019 December 31, 2018 (Dollars in thousands) Notional amount of purchased/written option $ 12,882 $ 13,024 Weighted average maturity 1.0 years 1.6 years Fair value of purchased/written option $ 279 $ 261 |
Freestanding Derivative Assets and Liabilities Not Designated as Hedges | The following table reflects the fair value and location in the consolidated statement of financial condition of interest rate caps, along with purchased and written certificates of deposit options: Included in other assets: June 30, 2019 December 31, 2018 (Dollars in thousands) Freestanding derivative assets not designated as hedges: Purchased certificate of deposit option $ 279 $ 261 Included in other liabilities: June 30, 2019 December 31, 2018 (Dollars in thousands) Freestanding derivative liabilities not designated as hedges: Written certificate of deposit option $ 279 $ 261 |
LEASES (Tables)
LEASES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Summary of Future Minimum Lease Payments under Non-Cancellable Leases | Future minimum lease payments under non-cancellable leases with initial or remaining lease terms in excess of one year at June 30, 2019 are as follows: Year (Dollars in thousands) Remainder of 2019 $ 667 2020 1,231 2021 994 2022 779 2023 424 2024 and thereafter 1,626 Total lease payments 5,721 Less: Interest (519 ) Present value of lease liabilities $ 5,202 Rent expense was $259,000 and $542,000 for the three and six months ended June 30, 2018. Rent commitments under noncancelable operating leases for offices were as follows as of December 31, 2018, before considering renewal options that generally are present: Year (Dollars in thousands) 2019 $ 1,085 2020 949 2021 892 2022 651 2023 346 Thereafter 867 Total $ 4,790 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2019RetailBankingOffice | |
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | |
Number of retail banking offices | 33 |
HSB Insurance, Inc. [Member] | |
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | |
Operations commenced date | Jun. 1, 2017 |
Ohio [Member] | |
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | |
Number of retail banking offices | 32 |
Pennsylvania [Member] | |
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | |
Number of retail banking offices | 1 |
Recent Accounting Development_2
Recent Accounting Developments - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | |||
Increase in right of use asset due to adopting new standard | $ 4,800 | ||
Other assets | 32,924 | $ 23,060 | |
Increase in lease liability due to adopting new standard | $ 5,202 | ||
ASU 2016-02 [Member] | |||
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items] | |||
Increase in right of use asset due to adopting new standard | $ 5,200 | ||
Other assets | 300 | ||
Increase in lease liability due to adopting new standard | $ 5,500 |
Stock Compensation - Additional
Stock Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Apr. 30, 2015 | Apr. 26, 2007 | |
Stock Option [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Outstanding nonvested stock options | 0 | 0 | |||||
Weighted average remaining life for outstanding stock | 4 years 14 days | ||||||
Exercise price range, lower range limit | $ 1.20 | ||||||
Exercise price range, upper range limit | $ 9.66 | ||||||
Restricted Stock [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 156,000 | $ 229,000 | $ 299,000 | $ 471,000 | |||
Expected additional expense for 2019 | $ 261,000 | $ 261,000 | |||||
Nonvested shares | 123,378 | 123,378 | 210,713 | ||||
Expected to vest shares during remainder of 2019 | 21,953 | ||||||
Expected to vest shares during 2020 | 35,233 | ||||||
Expected to vest shares during 2021 | 58,834 | ||||||
Expected to vest shares during 2022 | 7,358 | ||||||
Expected additional expense for 2020 | $ 321,000 | $ 321,000 | |||||
Expected additional expense for 2021 | 153,000 | 153,000 | |||||
Expected additional expense for 2022 | $ 43,000 | $ 43,000 | |||||
Total average per share fair value of shares vested | $ 9.36 | $ 9.62 | |||||
2015 Long Term Incentive Compensation Plan [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Authorized shares of stock, option plan, maximum | 1,200,000 | ||||||
2015 Long Term Incentive Compensation Plan [Member] | Stock Option [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Shares, Granted | 0 | 0 | 0 | 50,000 | |||
Option expiry term (Years) | 10 years | ||||||
Stock-based compensation expense | $ 19,000 | $ 6,000 | $ 32,000 | ||||
Expected additional expense for 2019 | $ 0 | $ 0 | |||||
2007 Long-Term Incentive Plan [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Authorized shares of stock, option plan, maximum | 2,000,000 | ||||||
1999 Long-Term Incentive Plan [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Authorized shares of stock, option plan, maximum | 3,569,766 | 3,569,766 | |||||
Annual Incentive Plan [Member] | Restricted Stock [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 44,000 | 95,000 | $ 70,000 | 190,000 | |||
Annual Incentive Plan [Member] | Restricted Stock [Member] | Beginning on first anniversary of issue date [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation vesting period | 3 years | ||||||
Annual Incentive Plan [Member] | Cash Portion [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | 217,000 | 426,000 | $ 917,000 | 871,000 | |||
Long Term Incentive Plan [Member] | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 184,000 | $ 212,000 | $ 366,000 | $ 381,000 |
Stock Compensation - Summary of
Stock Compensation - Summary of Option Activity in 2015 Plan, 2007 Plan and 1999 Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Shares, Outstanding at beginning of year | 223,432 |
Shares, Exercised | (59,600) |
Shares, Outstanding at end of period | 163,832 |
Shares, Shares subject to options exercisable at end of period | 163,832 |
Weighted average exercise price, Outstanding at beginning of year | $ 3.93 |
Weighted average exercise price, Exercised | 2.03 |
Weighted average exercise price, Outstanding at end of period | 4.63 |
Weighted average exercise price, Shares subject to options exercisable at end of period | $ 4.63 |
Aggregate intrinsic value, Outstanding at end of period | $ 815 |
Aggregate intrinsic value, Shares subject to options exercisable at end of period | $ 815 |
Stock Compensation - Informatio
Stock Compensation - Information Related to Stock Options (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Intrinsic value of options exercised | $ 438,540 | $ 450,486 |
Cash received from option exercises | 122,000 | 232,000 |
Tax benefit realized from option exercises | $ 15,565 | $ 67,298 |
Weighted average fair value of options granted, per share | $ 1.54 |
Stock Compensation - Informat_2
Stock Compensation - Information Related to Stock Options Granted (Detail) - Stock Option [Member] | 6 Months Ended |
Jun. 30, 2018 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Risk-free interest rate | 2.69% |
Expected term (years) | 5 years |
Expected stock volatility | 19.86% |
Dividend yield | 2.48% |
Stock Compensation - Summary _2
Stock Compensation - Summary of Changes in Company's Nonvested Restricted Shares (Detail) - Restricted Stock [Member] | 6 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Shares, Nonvested shares, Beginning balance | shares | 210,713 |
Shares, Granted | shares | 30,458 |
Shares, Vested | shares | (116,959) |
Shares, Forfeited | shares | (834) |
Shares, Nonvested shares, Ending balance | shares | 123,378 |
Weighted average grant date fair value, Nonvested shares, Beginning balance | $ / shares | $ 8.15 |
Weighted average grant date fair value, Granted | $ / shares | 9.42 |
Weighted average grant date fair value, Vested | $ / shares | 6.92 |
Weighted average grant date fair value, Forfeited | $ / shares | 9.10 |
Weighted average grant date fair value, Nonvested shares, Ending balance | $ / shares | $ 9.63 |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) - ASC 606 [Member] | 6 Months Ended |
Jun. 30, 2019 | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Percentage of insurance agency income derived from direct-bill customers | 75.00% |
Percentage of insurance agency income derived from agency-billed customer | 25.00% |
Percentage of trust fee income recognized | 85.00% |
Securities - Components of Avai
Securities - Components of Available for Sale Portfolio (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | $ 316,567 | $ 246,426 |
Available-for-sale securities, Gross unrealized gains | 4,173 | 277 |
Available-for-sale securities, Gross unrealized losses | (1,731) | (5,060) |
Available-for-sale securities, Total fair value | 319,009 | 241,643 |
U.S. Treasury and Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 64,337 | 97,785 |
Available-for-sale securities, Gross unrealized gains | 1,453 | |
Available-for-sale securities, Gross unrealized losses | (2,204) | |
Available-for-sale securities, Total fair value | 65,790 | 95,581 |
States and Municipalities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 35,085 | 48,167 |
Available-for-sale securities, Gross unrealized gains | 940 | 107 |
Available-for-sale securities, Gross unrealized losses | (528) | |
Available-for-sale securities, Total fair value | 36,025 | 47,746 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 13,204 | 2,000 |
Available-for-sale securities, Gross unrealized gains | 159 | 4 |
Available-for-sale securities, Gross unrealized losses | (3) | |
Available-for-sale securities, Total fair value | 13,360 | 2,004 |
Collateralized Mortgage Obligations (CMO) [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 54,773 | 21,979 |
Available-for-sale securities, Gross unrealized gains | 1,356 | 143 |
Available-for-sale securities, Gross unrealized losses | (22) | (14) |
Available-for-sale securities, Total fair value | 56,107 | 22,108 |
Mortgage-Backed Securities (MBS) [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 149,168 | 76,495 |
Available-for-sale securities, Gross unrealized gains | 265 | 23 |
Available-for-sale securities, Gross unrealized losses | (1,706) | (2,314) |
Available-for-sale securities, Total fair value | $ 147,727 | $ 74,204 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Sep. 30, 2015 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | ||||||
Held to maturity securities transferred to available for sale, amortized cost | $ 74,600,000 | |||||
Held to maturity securities transferred to available for sale, fair value | 72,500,000 | |||||
Securities pledged for public funds | 160,100,000 | $ 160,100,000 | $ 108,700,000 | |||
Available for sale securities transferred to held to maturity, total amortized cost | $ 105,300,000 | |||||
Available for sale securities transferred to held to maturity fair value | 103,800,000 | |||||
Net unrealized loss, net of taxes, on securities at date of transfer | $ (999,000) | |||||
Proceeds from the sale of securities available for sale | 42,600,000 | $ 5,700,000 | 58,300,000 | $ 10,400,000 | ||
Gross gains realized on sales of securities available for sale | 180,000 | 94,000 | 324,000 | 233,000 | ||
Gross losses realized on sales of securities available for sale | $ 32,000 | $ 0 | $ 32,000 | $ 0 |
Securities - Components of Held
Securities - Components of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | $ 77,491 | |
Held to maturity securities, Gross unrecognized gains | 20 | |
Held to maturity securities, Gross unrecognized losses | (2,436) | |
Held to maturity securities, Fair value | $ 0 | 75,075 |
Mortgage-Backed Securities (MBS) [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | 64,442 | |
Held to maturity securities, Gross unrecognized losses | (2,327) | |
Held to maturity securities, Fair value | 62,115 | |
States and Municipalities [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | 13,049 | |
Held to maturity securities, Gross unrecognized gains | 20 | |
Held to maturity securities, Gross unrecognized losses | (109) | |
Held to maturity securities, Fair value | $ 12,960 |
Securities - Debt Securities Av
Securities - Debt Securities Available for Sale by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Available For Sale Securities Debt Maturities [Abstract] | ||
Due in one year or less, amortized cost | $ 2,000 | |
Due after one year through five years, amortized cost | 19,010 | |
Due after five years through ten years, amortized cost | 60,026 | |
Due after ten years, amortized cost | 31,590 | |
MBS and CMO, amortized cost | 203,941 | |
Total amortized cost | 316,567 | $ 246,426 |
Due in one year or less, fair value | 2,021 | |
Due after one year through five years, fair value | 19,349 | |
Due after five years through ten years, fair value | 61,309 | |
Due after ten years, fair value | 32,496 | |
MBS and CMO, fair value | 203,834 | |
Total fair value | $ 319,009 | $ 241,643 |
Securities - Securities Availab
Securities - Securities Available for Sale in Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | $ 8,306 | $ 14,950 |
Unrealized loss, Less than 12 months | (25) | (53) |
Fair value, 12 months or more | 108,254 | 193,973 |
Unrealized loss, 12 months or more | (1,706) | (5,007) |
Total Fair value | 116,560 | 208,923 |
Total, unrealized loss | (1,731) | (5,060) |
U.S. Treasury and Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, 12 months or more | 95,581 | |
Unrealized loss, 12 months or more | (2,204) | |
Total Fair value | 95,581 | |
Total, unrealized loss | (2,204) | |
States and Municipalities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 9,475 | |
Unrealized loss, Less than 12 months | (39) | |
Fair value, 12 months or more | 24,850 | |
Unrealized loss, 12 months or more | (489) | |
Total Fair value | 34,325 | |
Total, unrealized loss | (528) | |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 503 | |
Unrealized loss, Less than 12 months | (3) | |
Total Fair value | 503 | |
Total, unrealized loss | (3) | |
Mortgage-Backed Securities (MBS) [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, 12 months or more | 108,254 | 73,542 |
Unrealized loss, 12 months or more | (1,706) | (2,314) |
Total Fair value | 108,254 | 73,542 |
Total, unrealized loss | (1,706) | (2,314) |
Collateralized Mortgage Obligations (CMO) [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 7,803 | 5,475 |
Unrealized loss, Less than 12 months | (22) | (14) |
Total Fair value | 7,803 | 5,475 |
Total, unrealized loss | $ (22) | $ (14) |
Securities - Securities Held to
Securities - Securities Held to Maturity in Unrecognized Loss Position (Detail) $ in Thousands | Dec. 31, 2018USD ($) |
Schedule Of Held To Maturity Securities [Line Items] | |
Fair value, Less than 12 months | $ 4,253 |
Unrealized loss, Less than 12 months | (48) |
Fair value, 12 months or more | 65,640 |
Unrealized loss, 12 months or more | (3,272) |
Total fair value | 69,893 |
Total unrealized loss | (3,320) |
Mortgage-Backed Securities (MBS) [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Fair value, 12 months or more | 62,115 |
Unrealized loss, 12 months or more | (3,203) |
Total fair value | 62,115 |
Total unrealized loss | (3,203) |
States and Municipalities [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Fair value, Less than 12 months | 4,253 |
Unrealized loss, Less than 12 months | (48) |
Fair value, 12 months or more | 3,525 |
Unrealized loss, 12 months or more | (69) |
Total fair value | 7,778 |
Total unrealized loss | $ (117) |
Loans - Schedule of Portfolio o
Loans - Schedule of Portfolio of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | $ 2,242,731 | $ 2,190,662 | ||||
Allowance for loan losses | 20,482 | $ 20,446 | 20,443 | $ 21,405 | $ 21,610 | $ 21,202 |
Deferred loan costs, net | (7,077) | (6,623) | ||||
Total | 13,405 | 13,820 | ||||
Loans, net | 2,229,326 | 2,176,842 | ||||
Commercial Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 974,306 | 942,931 | ||||
Allowance for loan losses | 12,547 | 12,114 | 11,875 | 12,808 | 13,095 | 12,542 |
Commercial Loans [Member] | Multifamily [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 154,630 | 134,143 | ||||
Commercial Loans [Member] | Nonresidential [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 414,780 | 409,979 | ||||
Commercial Loans [Member] | Land [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 16,955 | 16,830 | ||||
Commercial Loans [Member] | Construction [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 138,043 | 141,686 | ||||
Commercial Loans [Member] | Secured [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 243,044 | 233,306 | ||||
Commercial Loans [Member] | Unsecured [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 6,854 | 6,987 | ||||
Residential Mortgage Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 988,894 | 970,690 | ||||
Allowance for loan losses | 5,458 | 5,823 | 5,923 | 5,867 | 5,701 | 5,860 |
Residential Mortgage Loans [Member] | Construction [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 46,196 | 43,435 | ||||
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 942,698 | 927,255 | ||||
Consumer Loans [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 279,531 | 277,041 | ||||
Allowance for loan losses | 2,477 | $ 2,509 | 2,645 | $ 2,730 | $ 2,814 | $ 2,800 |
Consumer Loans [Member] | Home Equity [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 184,676 | 185,661 | ||||
Consumer Loans [Member] | Auto [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 82,715 | 78,686 | ||||
Consumer Loans [Member] | Marine [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 1,097 | 1,206 | ||||
Consumer Loans [Member] | Recreational Vehicle [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | 3,433 | 4,347 | ||||
Consumer Loans [Member] | Other [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total loans | $ 7,610 | $ 7,141 |
Loans - Investment in Loans by
Loans - Investment in Loans by Portfolio Segment and Based on Impairment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | $ 20,446 | $ 21,610 | $ 20,443 | $ 21,202 | |
Provision (recovery) for loan losses | (51) | (138) | 10 | 269 | |
Charge-offs | (194) | (254) | (627) | (525) | |
Recoveries | 281 | 187 | 656 | 459 | |
Allowance, Ending balance | 20,482 | 21,405 | 20,482 | 21,405 | |
Allowance, Loans individually evaluated for impairment | 1,816 | 1,661 | 1,816 | 1,661 | $ 1,201 |
Allowance, Loans collectively evaluated for impairment | 18,666 | 18,666 | 19,242 | ||
Period-end balances, Loans individually evaluated for impairment | 25,139 | 25,139 | 20,594 | ||
Period-end balances, Loans collectively evaluated for impairment | 2,217,592 | 2,217,592 | 2,170,068 | ||
Total loans | 2,242,731 | 2,242,731 | 2,190,662 | ||
Commercial Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 12,114 | 13,095 | 11,875 | 12,542 | |
Provision (recovery) for loan losses | 263 | (263) | 444 | 133 | |
Charge-offs | (75) | (88) | (75) | ||
Recoveries | 170 | 51 | 316 | 208 | |
Allowance, Ending balance | 12,547 | 12,808 | 12,547 | 12,808 | |
Allowance, Loans individually evaluated for impairment | 857 | 514 | 857 | 514 | 103 |
Allowance, Loans collectively evaluated for impairment | 11,690 | 11,690 | 11,772 | ||
Period-end balances, Loans individually evaluated for impairment | 7,680 | 7,680 | 2,017 | ||
Period-end balances, Loans collectively evaluated for impairment | 966,626 | 966,626 | 940,914 | ||
Total loans | 974,306 | 974,306 | 942,931 | ||
Residential Mortgage Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 5,823 | 5,701 | 5,923 | 5,860 | |
Provision (recovery) for loan losses | (312) | 180 | (490) | 87 | |
Charge-offs | (79) | (96) | (99) | (181) | |
Recoveries | 26 | 82 | 124 | 101 | |
Allowance, Ending balance | 5,458 | 5,867 | 5,458 | 5,867 | |
Allowance, Loans individually evaluated for impairment | 669 | 834 | 669 | 834 | 798 |
Allowance, Loans collectively evaluated for impairment | 4,789 | 4,789 | 5,125 | ||
Period-end balances, Loans individually evaluated for impairment | 12,402 | 12,402 | 13,086 | ||
Period-end balances, Loans collectively evaluated for impairment | 976,492 | 976,492 | 957,604 | ||
Total loans | 988,894 | 988,894 | 970,690 | ||
Consumer Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 2,509 | 2,814 | 2,645 | 2,800 | |
Provision (recovery) for loan losses | (2) | (55) | 56 | 49 | |
Charge-offs | (115) | (83) | (440) | (269) | |
Recoveries | 85 | 54 | 216 | 150 | |
Allowance, Ending balance | 2,477 | 2,730 | 2,477 | 2,730 | |
Allowance, Loans individually evaluated for impairment | 290 | $ 313 | 290 | $ 313 | 300 |
Allowance, Loans collectively evaluated for impairment | 2,187 | 2,187 | 2,345 | ||
Period-end balances, Loans individually evaluated for impairment | 5,057 | 5,057 | 5,491 | ||
Period-end balances, Loans collectively evaluated for impairment | 274,474 | 274,474 | 271,550 | ||
Total loans | $ 279,531 | $ 279,531 | $ 277,041 |
Loans - Presentation of Loans I
Loans - Presentation of Loans Individually Evaluated for Impairment by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | $ 13,645 | $ 14,637 | $ 13,645 | $ 14,637 | $ 12,801 |
With no specific allowance recorded, Recorded Investment | 8,698 | 8,565 | 8,698 | 8,565 | 6,499 |
With no specific allowance recorded, Average Recorded Investment | 7,088 | 8,111 | 6,892 | 8,038 | |
With no specific allowance recorded, Interest Income Recognized | 59 | 39 | 93 | 93 | |
With no specific allowance recorded, Cash Basis Income Recognized | 59 | 39 | 83 | 76 | |
With a specific allowance recorded, Unpaid Principal Balance | 17,444 | 15,820 | 17,444 | 15,820 | 14,768 |
With a specific allowance recorded, Recorded Investment | 16,441 | 15,213 | 16,441 | 15,213 | 14,095 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,816 | 1,661 | 1,816 | 1,661 | 1,201 |
With a specific allowance recorded, Average Recorded Investment | 16,068 | 16,322 | 15,408 | 16,998 | |
With a specific allowance recorded, Interest Income Recognized | 281 | 183 | 544 | 421 | |
With a specific allowance recorded, Cash Basis Income Recognized | 279 | 180 | 485 | 361 | |
Total Unpaid Principal Balance | 31,089 | 30,457 | 31,089 | 30,457 | 27,569 |
Total Recorded Investment | 25,139 | 23,778 | 25,139 | 23,778 | 20,594 |
Total Average Recorded Investment | 23,156 | 24,433 | 22,300 | 25,036 | |
Total Interest Income Recognized | 340 | 222 | 637 | 514 | |
Total Cash Basis Income Recognized | 338 | 219 | 568 | 437 | |
Commercial Loans [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 6,252 | 5,120 | 6,252 | 5,120 | 4,758 |
With no specific allowance recorded, Recorded Investment | 2,801 | 1,044 | 2,801 | 1,044 | 300 |
With no specific allowance recorded, Average Recorded Investment | 1,464 | 988 | 1,076 | 1,007 | |
With no specific allowance recorded, Interest Income Recognized | 16 | 1 | 18 | 4 | |
With no specific allowance recorded, Cash Basis Income Recognized | 16 | 1 | 18 | 4 | |
With a specific allowance recorded, Unpaid Principal Balance | 5,654 | 2,476 | 5,654 | 2,476 | 2,175 |
With a specific allowance recorded, Recorded Investment | 4,879 | 2,075 | 4,879 | 2,075 | 1,717 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 857 | 514 | 857 | 514 | 103 |
With a specific allowance recorded, Average Recorded Investment | 4,015 | 2,161 | 3,248 | 2,210 | |
With a specific allowance recorded, Interest Income Recognized | 134 | 22 | 182 | 52 | |
With a specific allowance recorded, Cash Basis Income Recognized | 134 | 22 | 174 | 44 | |
Commercial Loans [Member] | Multifamily [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 155 | 28 | 155 | 28 | 443 |
With no specific allowance recorded, Recorded Investment | 170 | ||||
With no specific allowance recorded, Average Recorded Investment | 57 | ||||
With no specific allowance recorded, Interest Income Recognized | 1 | ||||
With no specific allowance recorded, Cash Basis Income Recognized | 1 | ||||
With a specific allowance recorded, Unpaid Principal Balance | 422 | 422 | |||
With a specific allowance recorded, Recorded Investment | 275 | 275 | |||
With a specific allowance recorded, Allowance for Loan Losses Allocated | 28 | 28 | |||
With a specific allowance recorded, Average Recorded Investment | 275 | 275 | |||
Commercial Loans [Member] | Nonresidential [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 2,942 | 630 | 2,942 | 630 | 588 |
With no specific allowance recorded, Recorded Investment | 2,801 | 137 | 2,801 | 137 | 130 |
With no specific allowance recorded, Average Recorded Investment | 1,464 | 78 | 1,019 | 100 | |
With no specific allowance recorded, Interest Income Recognized | 16 | 1 | 17 | 4 | |
With no specific allowance recorded, Cash Basis Income Recognized | 16 | 1 | 17 | 4 | |
With a specific allowance recorded, Unpaid Principal Balance | 1,235 | 1,235 | 1,186 | ||
With a specific allowance recorded, Recorded Investment | 1,232 | 1,232 | 1,186 | ||
With a specific allowance recorded, Allowance for Loan Losses Allocated | 13 | 13 | 12 | ||
With a specific allowance recorded, Average Recorded Investment | 1,359 | 1,323 | 1,301 | 1,356 | |
With a specific allowance recorded, Interest Income Recognized | 22 | 45 | 52 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 22 | 37 | 44 | ||
Commercial Loans [Member] | Land [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 706 | 706 | |||
With no specific allowance recorded, Average Recorded Investment | 5 | 6 | |||
Commercial Loans [Member] | Construction [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 2,446 | 2,457 | 2,446 | 2,457 | 2,447 |
Commercial Loans [Member] | Secured [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 235 | 1,115 | 235 | 1,115 | 806 |
With no specific allowance recorded, Recorded Investment | 907 | 907 | |||
With no specific allowance recorded, Average Recorded Investment | 905 | 901 | |||
With a specific allowance recorded, Unpaid Principal Balance | 5,654 | 819 | 5,654 | 819 | 989 |
With a specific allowance recorded, Recorded Investment | 4,879 | 568 | 4,879 | 568 | 531 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 857 | 473 | 857 | 473 | 91 |
With a specific allowance recorded, Average Recorded Investment | 2,656 | 563 | 1,947 | 579 | |
With a specific allowance recorded, Interest Income Recognized | 134 | 137 | |||
With a specific allowance recorded, Cash Basis Income Recognized | 134 | 137 | |||
Commercial Loans [Member] | Unsecured [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 474 | 184 | 474 | 184 | 474 |
Residential Mortgage Loans [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 5,579 | 6,918 | 5,579 | 6,918 | 5,840 |
With no specific allowance recorded, Recorded Investment | 4,792 | 5,994 | 4,792 | 5,994 | 4,908 |
With no specific allowance recorded, Average Recorded Investment | 4,554 | 5,683 | 4,672 | 5,602 | |
With no specific allowance recorded, Interest Income Recognized | 35 | 30 | 64 | 74 | |
With no specific allowance recorded, Cash Basis Income Recognized | 35 | 30 | 55 | 58 | |
With a specific allowance recorded, Unpaid Principal Balance | 7,741 | 8,574 | 7,741 | 8,574 | 8,298 |
With a specific allowance recorded, Recorded Investment | 7,610 | 8,461 | 7,610 | 8,461 | 8,178 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 669 | 834 | 669 | 834 | 798 |
With a specific allowance recorded, Average Recorded Investment | 8,027 | 9,340 | 8,077 | 9,793 | |
With a specific allowance recorded, Interest Income Recognized | 92 | 98 | 239 | 233 | |
With a specific allowance recorded, Cash Basis Income Recognized | 91 | 96 | 202 | 195 | |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 5,579 | 6,918 | 5,579 | 6,918 | 5,840 |
With no specific allowance recorded, Recorded Investment | 4,792 | 5,994 | 4,792 | 5,994 | 4,908 |
With no specific allowance recorded, Average Recorded Investment | 4,554 | 5,683 | 4,672 | 5,602 | |
With no specific allowance recorded, Interest Income Recognized | 35 | 30 | 64 | 74 | |
With no specific allowance recorded, Cash Basis Income Recognized | 35 | 30 | 55 | 58 | |
With a specific allowance recorded, Unpaid Principal Balance | 7,741 | 8,574 | 7,741 | 8,574 | 8,298 |
With a specific allowance recorded, Recorded Investment | 7,610 | 8,461 | 7,610 | 8,461 | 8,178 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 669 | 834 | 669 | 834 | 798 |
With a specific allowance recorded, Average Recorded Investment | 8,027 | 9,340 | 8,077 | 9,793 | |
With a specific allowance recorded, Interest Income Recognized | 92 | 98 | 239 | 233 | |
With a specific allowance recorded, Cash Basis Income Recognized | 91 | 96 | 202 | 195 | |
Consumer Loans [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 1,814 | 2,599 | 1,814 | 2,599 | 2,203 |
With no specific allowance recorded, Recorded Investment | 1,105 | 1,527 | 1,105 | 1,527 | 1,291 |
With no specific allowance recorded, Average Recorded Investment | 1,070 | 1,440 | 1,144 | 1,429 | |
With no specific allowance recorded, Interest Income Recognized | 8 | 8 | 11 | 15 | |
With no specific allowance recorded, Cash Basis Income Recognized | 8 | 8 | 10 | 14 | |
With a specific allowance recorded, Unpaid Principal Balance | 4,049 | 4,770 | 4,049 | 4,770 | 4,295 |
With a specific allowance recorded, Recorded Investment | 3,952 | 4,677 | 3,952 | 4,677 | 4,200 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 290 | 313 | 290 | 313 | 300 |
With a specific allowance recorded, Average Recorded Investment | 4,026 | 4,821 | 4,083 | 4,995 | |
With a specific allowance recorded, Interest Income Recognized | 55 | 63 | 123 | 136 | |
With a specific allowance recorded, Cash Basis Income Recognized | 54 | 62 | 109 | 122 | |
Consumer Loans [Member] | Home Equity [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 1,041 | 1,496 | 1,041 | 1,496 | 1,084 |
With no specific allowance recorded, Recorded Investment | 926 | 1,224 | 926 | 1,224 | 957 |
With no specific allowance recorded, Average Recorded Investment | 889 | 1,101 | 912 | 1,087 | |
With no specific allowance recorded, Interest Income Recognized | 6 | 6 | 7 | 11 | |
With no specific allowance recorded, Cash Basis Income Recognized | 6 | 6 | 6 | 10 | |
With a specific allowance recorded, Unpaid Principal Balance | 3,620 | 4,282 | 3,620 | 4,282 | 3,925 |
With a specific allowance recorded, Recorded Investment | 3,535 | 4,201 | 3,535 | 4,201 | 3,842 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 274 | 295 | 274 | 295 | 283 |
With a specific allowance recorded, Average Recorded Investment | 3,600 | 4,338 | 3,680 | 4,505 | |
With a specific allowance recorded, Interest Income Recognized | 49 | 57 | 110 | 123 | |
With a specific allowance recorded, Cash Basis Income Recognized | 48 | 56 | 97 | 110 | |
Consumer Loans [Member] | Auto [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 33 | 29 | 33 | 29 | 25 |
With no specific allowance recorded, Recorded Investment | 25 | 22 | 25 | 22 | 17 |
With no specific allowance recorded, Average Recorded Investment | 20 | 42 | 19 | 33 | |
Consumer Loans [Member] | Marine [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 354 | 553 | 354 | 553 | 502 |
With no specific allowance recorded, Recorded Investment | 105 | 181 | 105 | 181 | 145 |
With no specific allowance recorded, Average Recorded Investment | 105 | 181 | 118 | 181 | |
With a specific allowance recorded, Unpaid Principal Balance | 86 | 95 | 86 | 95 | 91 |
With a specific allowance recorded, Recorded Investment | 86 | 95 | 86 | 95 | 91 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1 | 1 | 1 | 1 | 1 |
With a specific allowance recorded, Average Recorded Investment | 88 | 96 | 89 | 97 | |
With a specific allowance recorded, Interest Income Recognized | 1 | 1 | 2 | 2 | |
With a specific allowance recorded, Cash Basis Income Recognized | 1 | 1 | 2 | 2 | |
Consumer Loans [Member] | Recreational Vehicle [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 386 | 520 | 386 | 520 | 592 |
With no specific allowance recorded, Recorded Investment | 49 | 100 | 49 | 100 | 172 |
With no specific allowance recorded, Average Recorded Investment | 56 | 108 | 95 | 122 | |
With no specific allowance recorded, Interest Income Recognized | 2 | 2 | 4 | 4 | |
With no specific allowance recorded, Cash Basis Income Recognized | 2 | 2 | 4 | 4 | |
With a specific allowance recorded, Unpaid Principal Balance | 343 | 393 | 343 | 393 | 279 |
With a specific allowance recorded, Recorded Investment | 331 | 381 | 331 | 381 | 267 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 15 | 17 | 15 | 17 | $ 16 |
With a specific allowance recorded, Average Recorded Investment | 338 | 387 | 314 | 393 | |
With a specific allowance recorded, Interest Income Recognized | 5 | 5 | 11 | 11 | |
With a specific allowance recorded, Cash Basis Income Recognized | $ 5 | 5 | $ 10 | 10 | |
Consumer Loans [Member] | Other [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no specific allowance recorded, Unpaid Principal Balance | 1 | 1 | |||
With no specific allowance recorded, Average Recorded Investment | $ 8 | $ 6 |
Loans - Loans in Process of For
Loans - Loans in Process of Foreclosure (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | $ 31,089 | $ 27,569 | $ 30,457 |
Total Recorded Investment | 25,139 | 20,594 | |
Residential Mortgage Loans [Member] | Loans In Process Of Foreclosure [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 3,847 | 3,687 | |
Total Recorded Investment | 3,686 | 3,636 | |
Consumer Loans [Member] | Loans In Process Of Foreclosure [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 358 | 700 | |
Total Recorded Investment | $ 350 | $ 685 |
Loans - Presentation of Recorde
Loans - Presentation of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days and Still on Accrual by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 12,872 | $ 6,539 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 7,366 | 715 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 171 | |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 2,688 | 13 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 4,678 | 531 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 4,365 | 4,170 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 4,365 | 4,170 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 1,141 | 1,654 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 936 | 1,223 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 57 | 131 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 105 | 145 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 34 | 145 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 9 | $ 10 |
Loans - Presentation of Age Ana
Loans - Presentation of Age Analysis of Past-Due Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 13,031 | $ 10,895 |
Current Loans | 2,229,700 | 2,179,767 |
Total loans | 2,242,731 | 2,190,662 |
30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 4,697 | 3,856 |
60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,942 | 1,289 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 5,392 | 5,750 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,280 | 897 |
Current Loans | 972,026 | 942,034 |
Total loans | 974,306 | 942,931 |
Commercial Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 128 | 195 |
Commercial Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,725 | |
Commercial Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 427 | 702 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 171 | |
Current Loans | 154,630 | 133,972 |
Total loans | 154,630 | 134,143 |
Commercial Loans [Member] | Multifamily [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 171 | |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,785 | |
Current Loans | 412,995 | 409,979 |
Total loans | 414,780 | 409,979 |
Commercial Loans [Member] | Nonresidential [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 104 | |
Commercial Loans [Member] | Nonresidential [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,681 | |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 16,955 | 16,830 |
Total loans | 16,955 | 16,830 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 138,043 | 141,686 |
Total loans | 138,043 | 141,686 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 495 | 726 |
Current Loans | 242,549 | 232,580 |
Total loans | 243,044 | 233,306 |
Commercial Loans [Member] | Secured [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 24 | 195 |
Commercial Loans [Member] | Secured [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 44 | |
Commercial Loans [Member] | Secured [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 427 | 531 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 6,854 | 6,987 |
Total loans | 6,854 | 6,987 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 7,691 | 6,491 |
Current Loans | 981,203 | 964,199 |
Total loans | 988,894 | 970,690 |
Residential Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,059 | 2,139 |
Residential Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 765 | 882 |
Residential Mortgage Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,867 | 3,470 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 46,196 | 43,435 |
Total loans | 46,196 | 43,435 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 7,691 | 6,491 |
Current Loans | 935,007 | 920,764 |
Total loans | 942,698 | 927,255 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,059 | 2,139 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 765 | 882 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,867 | 3,470 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,060 | 3,507 |
Current Loans | 276,471 | 273,534 |
Total loans | 279,531 | 277,041 |
Consumer Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,510 | 1,522 |
Consumer Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 452 | 407 |
Consumer Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,098 | 1,578 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,378 | 2,100 |
Current Loans | 182,298 | 183,561 |
Total loans | 184,676 | 185,661 |
Consumer Loans [Member] | Home Equity [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,166 | 658 |
Consumer Loans [Member] | Home Equity [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 319 | 295 |
Consumer Loans [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 893 | 1,147 |
Consumer Loans [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 360 | 526 |
Current Loans | 82,355 | 78,160 |
Total loans | 82,715 | 78,686 |
Consumer Loans [Member] | Automobile [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 254 | 283 |
Consumer Loans [Member] | Automobile [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 49 | 112 |
Consumer Loans [Member] | Automobile [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 57 | 131 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 105 | 145 |
Current Loans | 992 | 1,061 |
Total loans | 1,097 | 1,206 |
Consumer Loans [Member] | Marine [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 105 | 145 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 166 | 693 |
Current Loans | 3,267 | 3,654 |
Total loans | 3,433 | 4,347 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 59 | 548 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 73 | |
Consumer Loans [Member] | Recreational Vehicle [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 34 | 145 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 51 | 43 |
Current Loans | 7,559 | 7,098 |
Total loans | 7,610 | 7,141 |
Consumer Loans [Member] | Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 31 | 33 |
Consumer Loans [Member] | Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 11 | |
Consumer Loans [Member] | Other [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 9 | $ 10 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Allowance for loan losses | $ 20,482,000 | $ 21,405,000 | $ 20,482,000 | $ 21,405,000 | $ 20,446,000 | $ 20,443,000 | $ 21,610,000 | $ 21,202,000 |
Amounts charged off | 194,000 | 254,000 | $ 627,000 | 525,000 | ||||
Troubled debt restructuring period past due considered payment default | 30 days | |||||||
Period of cumulative homogeneous loans past due included in company analysis | 90 days | |||||||
Purchased credit impairment loans, outstanding | 2,242,731,000 | $ 2,242,731,000 | 2,190,662,000 | |||||
Purchased Credit Impaired Loans [Member] | ||||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Increment in allowance for loan losses | 0 | 0 | ||||||
Purchased credit impairment loans, outstanding | 0 | 0 | 0 | |||||
Troubled Debt Restructuring [Member] | ||||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Recorded investment in trouble debt restructuring | 15,300,000 | 15,300,000 | 16,600,000 | |||||
Allowance for loan losses | 989,000 | 989,000 | 1,100,000 | |||||
Commitment to lend additional amounts | 45,000 | 45,000 | $ 41,000 | |||||
Increment in allowance for loan losses | 1,000 | 3,000 | 1,000 | 3,000 | ||||
Amounts charged off | $ 0 | 0 | $ 0 | 0 | ||||
TDRs with Subsequent Default [Member] | ||||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Increment in allowance for loan losses | 0 | 0 | ||||||
Amounts charged off | $ 0 | $ 0 |
Loans - Loans by Class Modified
Loans - Loans by Class Modified as Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($)Loan | Jun. 30, 2018USD ($)Loan | Jun. 30, 2019USD ($)Loan | Jun. 30, 2018USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | 5 | 3 | 6 |
Pre-Modification Outstanding Recorded Investment | $ 864 | $ 634 | $ 1,199 | $ 758 |
Post-Modification Recorded Investment | $ 868 | $ 660 | $ 1,223 | $ 784 |
Commercial Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 1 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 824 | $ 824 | $ 124 | |
Post-Modification Recorded Investment | $ 824 | $ 824 | $ 124 | |
Commercial Loans [Member] | Nonresidential [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 124 | |||
Post-Modification Recorded Investment | $ 124 | |||
Commercial Loans [Member] | Secured [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 824 | $ 824 | ||
Post-Modification Recorded Investment | $ 824 | $ 824 | ||
Residential Mortgage Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 3 | 1 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 521 | $ 335 | $ 521 | |
Post-Modification Recorded Investment | $ 547 | $ 355 | $ 547 | |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 3 | 1 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 521 | $ 335 | $ 521 | |
Post-Modification Recorded Investment | $ 547 | $ 355 | $ 547 | |
Consumer Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 2 | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 40 | $ 113 | $ 40 | $ 113 |
Post-Modification Recorded Investment | $ 44 | $ 113 | $ 44 | $ 113 |
Consumer Loans [Member] | Home Equity [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 2 | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 40 | $ 113 | $ 40 | $ 113 |
Post-Modification Recorded Investment | $ 44 | $ 113 | $ 44 | $ 113 |
Loans - Loans by Class Modifi_2
Loans - Loans by Class Modified as Troubled Debt Restructurings with Payment Default (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($)Loan | |
Financing Receivable Modifications [Line Items] | |
Number of loans | Loan | 3 |
Recorded Investment | $ | $ 478 |
Commercial Loans [Member] | |
Financing Receivable Modifications [Line Items] | |
Number of loans | Loan | 1 |
Recorded Investment | $ | $ 121 |
Commercial Loans [Member] | Nonresidential [Member] | |
Financing Receivable Modifications [Line Items] | |
Number of loans | Loan | 1 |
Recorded Investment | $ | $ 121 |
Residential Mortgage Loans [Member] | |
Financing Receivable Modifications [Line Items] | |
Number of loans | Loan | 2 |
Recorded Investment | $ | $ 357 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | |
Financing Receivable Modifications [Line Items] | |
Number of loans | Loan | 2 |
Recorded Investment | $ | $ 357 |
Loans - Risk Category of Loans
Loans - Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 2,242,731 | $ 2,190,662 |
Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,174,006 | 2,130,851 |
Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 31,716 | 23,341 |
Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 37,009 | 36,470 |
Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 37,009 | 36,470 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 974,306 | 942,931 |
Commercial Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 911,932 | 890,320 |
Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 31,620 | 22,750 |
Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 30,754 | 29,861 |
Commercial Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 30,754 | 29,861 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 154,630 | 134,143 |
Commercial Loans [Member] | Multifamily [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 142,730 | 133,972 |
Commercial Loans [Member] | Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 10,824 | |
Commercial Loans [Member] | Multifamily [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,076 | 171 |
Commercial Loans [Member] | Multifamily [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,076 | 171 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 414,780 | 409,979 |
Commercial Loans [Member] | Nonresidential [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 389,262 | 378,160 |
Commercial Loans [Member] | Nonresidential [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 15,346 | 18,420 |
Commercial Loans [Member] | Nonresidential [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 10,172 | 13,399 |
Commercial Loans [Member] | Nonresidential [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 10,172 | 13,399 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 16,955 | 16,830 |
Commercial Loans [Member] | Land [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 16,955 | 16,830 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 138,043 | 141,686 |
Commercial Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 135,658 | 139,540 |
Commercial Loans [Member] | Construction [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,385 | 2,146 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 243,044 | 233,306 |
Commercial Loans [Member] | Secured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 220,556 | 214,924 |
Commercial Loans [Member] | Secured [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,065 | 2,184 |
Commercial Loans [Member] | Secured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 19,423 | 16,198 |
Commercial Loans [Member] | Secured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 19,423 | 16,198 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,854 | 6,987 |
Commercial Loans [Member] | Unsecured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,771 | 6,894 |
Commercial Loans [Member] | Unsecured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 83 | 93 |
Commercial Loans [Member] | Unsecured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 83 | 93 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 988,894 | 970,690 |
Residential Mortgage Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 983,728 | 965,129 |
Residential Mortgage Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 96 | 591 |
Residential Mortgage Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,070 | 4,970 |
Residential Mortgage Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,070 | 4,970 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 46,196 | 43,435 |
Residential Mortgage Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 46,196 | 43,435 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 942,698 | 927,255 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 937,532 | 921,694 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 96 | 591 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,070 | 4,970 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,070 | 4,970 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 279,531 | 277,041 |
Consumer Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 278,346 | 275,402 |
Consumer Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,185 | 1,639 |
Consumer Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,185 | 1,639 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 184,676 | 185,661 |
Consumer Loans [Member] | Home Equity [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 183,700 | 184,438 |
Consumer Loans [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 976 | 1,223 |
Consumer Loans [Member] | Home Equity [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 976 | 1,223 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 82,715 | 78,686 |
Consumer Loans [Member] | Auto [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 82,658 | 78,551 |
Consumer Loans [Member] | Auto [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 57 | 135 |
Consumer Loans [Member] | Auto [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 57 | 135 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,097 | 1,206 |
Consumer Loans [Member] | Marine [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 992 | 1,061 |
Consumer Loans [Member] | Marine [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 105 | 145 |
Consumer Loans [Member] | Marine [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 105 | 145 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,433 | 4,347 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,399 | 4,221 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 34 | 126 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 34 | 126 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,610 | 7,141 |
Consumer Loans [Member] | Other [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,597 | 7,131 |
Consumer Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13 | 10 |
Consumer Loans [Member] | Other [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 13 | $ 10 |
Loans - Accretable Yield or Inc
Loans - Accretable Yield or Income Expected to be Collected (Detail) - Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Financing Receivable Impaired [Line Items] | ||
Beginning of period | $ 110 | $ 110 |
Accretion of income | 6 | 6 |
Balance at end of period | $ 104 | $ 104 |
Loans - Carrying Amount of Purc
Loans - Carrying Amount of Purchased Credit Impaired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Financing Receivable Impaired [Line Items] | ||
Beginning Balance | $ 2,197,285 | |
Loans purchased during the period | 26,509 | $ 18,246 |
Ending Balance | $ 2,249,808 | |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Beginning Balance | 1,194 | |
Ending Balance | $ 1,091 |
Mortgage Banking Activities - A
Mortgage Banking Activities - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Mortgage Loan Activity [Line Items] | ||
Mortgage loans serviced for others | $ 1,400 | $ 1,400 |
Fair value of mortgage servicing rights | 10.5 | 12.2 |
FHLMC, FNMA and Private Investor [Member] | ||
Mortgage Loan Activity [Line Items] | ||
Customer escrow balances | $ 15.1 | $ 16.3 |
Mortgage Banking Activities - P
Mortgage Banking Activities - Principal Balances of Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 1,400,000 | $ 1,400,000 |
FHLMC [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | 1,018,365 | 1,016,097 |
FNMA [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | 395,438 | 347,294 |
Private Investor [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 11,641 | $ 15,049 |
Mortgage Banking Activities - C
Mortgage Banking Activities - Capitalized Mortgage Servicing Rights (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Mortgage Banking [Abstract] | |||||||
Balance, beginning of period | $ 8,041,000 | $ 6,843,000 | $ 7,704,000 | $ 6,681,000 | |||
Originations | 703,000 | 641,000 | 1,486,000 | 1,303,000 | |||
Amortized to expense | (553,000) | (542,000) | (999,000) | (1,042,000) | |||
Balance, end of period | 8,191,000 | 6,942,000 | 8,191,000 | 6,942,000 | |||
Less valuation allowance | (1,565,000) | (20,000) | (1,565,000) | (20,000) | $ (569,000) | $ (70,000) | $ (9,000) |
Net balance | $ 6,626,000 | $ 6,922,000 | $ 6,626,000 | $ 6,922,000 |
Mortgage Banking Activities - V
Mortgage Banking Activities - Valuation Allowance for Mortgage Servicing Rights (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Mortgage Banking [Abstract] | ||||
Balance, beginning of period | $ (569,000) | $ (70,000) | $ (9,000) | |
Impairment charges | (996,000) | $ (20,000) | (1,495,000) | (20,000) |
Recoveries | 9,000 | |||
Balance, end of period | $ (1,565,000) | $ (20,000) | $ (1,565,000) | $ (20,000) |
Mortgage Banking Activities - K
Mortgage Banking Activities - Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Mortgage Banking [Abstract] | ||
Weighted average prepayment rate | 266.00% | 145.00% |
Weighted average life (in years) | 5 years 3 months 7 days | 7 years 3 months 3 days |
Weighted average discount rate | 11.00% | 11.00% |
Other Real Estate Owned and O_3
Other Real Estate Owned and Other Repossessed Assets - Real Estate Owned and Other Repossessed Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Other Real Estate And Foreclosed Assets [Abstract] | ||||||
Real estate owned and other repossessed assets | $ 1,113 | $ 1,396 | ||||
Valuation allowance | (158) | $ (318) | (308) | $ (248) | $ (287) | $ (403) |
End of period | $ 955 | $ 1,088 |
Other Real Estate Owned and O_4
Other Real Estate Owned and Other Repossessed Assets - Valuation Allowance Related to Real Estate Owned (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Other Real Estate And Foreclosed Assets [Abstract] | ||||
Beginning of period | $ 318,000 | $ 287,000 | $ 308,000 | $ 403,000 |
Additions charged to expense | 17,000 | 10,000 | 36,000 | 33,000 |
Sales of real estate owned with a valuation allowance | (177,000) | (49,000) | (186,000) | (188,000) |
End of period | $ 158,000 | $ 248,000 | $ 158,000 | $ 248,000 |
Other Real Estate Owned and O_5
Other Real Estate Owned and Other Repossessed Assets - Expenses Related to Foreclosed and Repossessed Assets (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Other Real Estate And Foreclosed Assets [Abstract] | ||||
Net loss on sales | $ 16,000 | $ 103,000 | $ 28,000 | $ 158,000 |
Provision for unrealized losses | 17,000 | 10,000 | 36,000 | 33,000 |
Operating expenses, net of rental income | 17,000 | 34,000 | 56,000 | 70,000 |
Total expenses | $ 50,000 | $ 147,000 | $ 120,000 | $ 261,000 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||||
Increase in fair value | $ 250,000 | ||||||
Transfers between level 1 and level 2 | $ 0 | $ 0 | $ 0 | ||||
Fair value of the collateral dependent loans, net carrying amount | 4,200,000 | $ 432,000 | 4,200,000 | $ 432,000 | 967,000 | ||
Specific allowance for collateral dependent loans | 828,000 | 490,000 | $ 828,000 | 490,000 | 69,000 | ||
Discount applied to appraisals for estimated selling costs percentage | 10.00% | ||||||
Net impairment reflected in mortgage servicing rights valuation and other income | 996,000 | 20,000 | $ 1,495,000 | 11,000 | |||
Mortgage servicing rights valuation allowance | 1,565,000 | $ 569,000 | 20,000 | 1,565,000 | 20,000 | 70,000 | $ 9,000 |
Other real estate owned carried at fair value | 129,000 | 286,000 | 129,000 | 286,000 | 302,000 | ||
Valuation allowance related to other real estate owned | 158,000 | 248,000 | 158,000 | 248,000 | 308,000 | ||
Additions charged to expense | 17,000 | 10,000 | 36,000 | 33,000 | |||
Collateral Dependent Loans [Member] | |||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||||
Increase (decrease) in provision for loan losses | 86,000 | 252,000 | 122,000 | 479,000 | |||
Mortgage Servicing Rights [Member] | |||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||||
Mortgage servicing rights | 2,600,000 | $ 240,000 | 2,600,000 | $ 240,000 | |||
Construction [Member] | Fair Value, Measurements, Recurring [Member] | |||||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||||
Fair value option, loans held as assets, aggregate amount in nonaccrual status | $ 0 | $ 0 | $ 0 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading securities, Fair Value | $ 705 | $ 364 |
Available for sale securities, Fair value | 319,009 | 241,643 |
Loans held for sale, at fair value | 97,477 | 91,472 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading securities, Fair Value | 705 | 364 |
Loans held for sale, at fair value | 97,477 | 91,472 |
Purchased certificate of deposit option | 279 | 261 |
Interest rate swaps | 121 | 56 |
Written certificate of deposit option | 279 | 261 |
Interest rate swaps | 133 | 62 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading securities, Fair Value | 234 | 364 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Trading securities, Fair Value | 471 | |
Loans held for sale, at fair value | 27,912 | 11,221 |
Purchased certificate of deposit option | 279 | 261 |
Interest rate swaps | 121 | 56 |
Written certificate of deposit option | 279 | 261 |
Interest rate swaps | 133 | 62 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Loans held for sale, at fair value | 69,565 | 80,251 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury and Agency Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 65,790 | 95,581 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury and Agency Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 65,790 | 95,581 |
Fair Value, Measurements, Recurring [Member] | States and Municipalities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 36,025 | 47,746 |
Fair Value, Measurements, Recurring [Member] | States and Municipalities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 36,025 | 47,746 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 13,360 | 2,004 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 13,360 | 2,004 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 56,107 | 22,108 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 56,107 | 22,108 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities (MBS) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 147,727 | 74,204 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities (MBS) [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | $ 147,727 | $ 74,204 |
Fair Value Measurement - Reconc
Fair Value Measurement - Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Included in change in fair value of loans held for sale | $ 3,241 | $ (2,197) | ||
Loans Held For Sale [Member] | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Balance of recurring Level 3 assets at beginning of period | $ 65,796 | $ 64,552 | 80,251 | 65,016 |
Included in change in fair value of loans held for sale | 1,581 | 19 | 2,650 | (2,139) |
Originations/Draws on construction perm loans | 30,633 | 35,517 | 53,730 | 62,327 |
Sales | (28,445) | (23,398) | (67,066) | (48,514) |
Balance of recurring Level 3 assets at end of period | $ 69,565 | $ 76,690 | $ 69,565 | $ 76,690 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Construction loans held for sale, at fair value | $ 97,477 | $ 91,472 |
Construction [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Construction loans held for sale, at fair value | 97,477 | 91,472 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Construction loans held for sale, at fair value | 97,477 | 91,472 |
Fair Value, Measurements, Recurring [Member] | Comparable Sales [Member] | Construction [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Construction loans held for sale, at fair value | $ 69,565 | $ 80,251 |
Fair Value, Measurements, Recurring [Member] | Comparable Sales [Member] | Construction [Member] | Minimum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value Inputs, Time discount | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Comparable Sales [Member] | Construction [Member] | Maximum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value Inputs, Time discount | 0.39% | 1.05% |
Fair Value Measurement - Asse_2
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Non-recurring Basis (Detail) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Mortgage Servicing Rights [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Mortgage servicing rights | $ 2,600,000 | $ 240,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Secured Commercial [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 3,807,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Secured Commercial [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 3,807,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | One-to Four-Family [Member] | Residential Mortgage Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 241,000 | $ 540,000 | |
Other real estate owned, net | 66,000 | 121,000 | |
Fair Value, Measurements, Nonrecurring [Member] | One-to Four-Family [Member] | Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 241,000 | 540,000 | |
Other real estate owned, net | 66,000 | 121,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Marine [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 105,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Marine [Member] | Significant Unobservable Inputs (Level 3) [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 105,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 4,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Recreational Vehicle [Member] | Significant Unobservable Inputs (Level 3) [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 4,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Mortgage Servicing Rights [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Mortgage servicing rights | 2,610,000 | 2,990,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Mortgage Servicing Rights [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Mortgage servicing rights | 2,610,000 | 2,990,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Construction [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Other real estate owned, net | 63,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Construction [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Other real estate owned, net | $ 63,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Secured [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 419,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Secured [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 419,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Auto [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Other real estate owned, net | 181,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Auto [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | 8,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Auto [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commercial Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Other real estate owned, net | 181,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Auto [Member] | Significant Unobservable Inputs (Level 3) [Member] | Consumer Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Impaired loans | $ 8,000 |
Fair Value Measurement - Quan_2
Fair Value Measurement - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] $ in Thousands | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Impaired Loans [Member] | Secured Commercial [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value | $ 3,807 | |
Impaired Loans [Member] | Secured Commercial [Member] | Commercial Loans [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | |
Impaired Loans [Member] | Secured Commercial [Member] | Commercial Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0 | |
Impaired Loans [Member] | Secured Commercial [Member] | Commercial Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.3500 | |
Impaired Loans [Member] | Secured Commercial [Member] | Commercial Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.1500 | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value | $ 105 | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0 | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.1785 | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.0893 | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value | $ 4 | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0 | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.1785 | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.0893 | |
Impaired Loans [Member] | Nonresidential [Member] | Commercial Loans [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | |
Impaired Loans [Member] | Auto [Member] | Consumer Loans [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value | $ 419 | |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0 | |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.6400 | |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.1600 | |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value | $ 241 | $ 540 |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | ucfc:ValuationTechniqueSalesComparisonApproachMember |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0 | 0 |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.1077 | 0.1077 |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.0427 | 0.0427 |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value | $ 63 | $ 181 |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | ucfc:ValuationTechniqueSalesComparisonApproachMember |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0 | 0 |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.5000 | 0.5290 |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.4585 | 0.5241 |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair Value | $ 66 | $ 121 |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Valuation Technique(s) | ucfc:ValuationTechniqueSalesComparisonApproachMember | ucfc:ValuationTechniqueSalesComparisonApproachMember |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0 | 0 |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.1422 | 0.1343 |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Adjustment for differences between comparable sales | 0.1422 | 0.1343 |
Fair Value Measurement - Fair V
Fair Value Measurement - Fair Value Option for Newly Originated Residential Mortgage and Permanent Construction Loans Held for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Aggregate fair value | $ 97,477 | $ 91,472 |
Construction [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Aggregate fair value | 97,477 | 91,472 |
Contractual balance | 90,495 | 87,731 |
Gain | $ 6,982 | $ 3,741 |
Fair Value Measurement - Amount
Fair Value Measurement - Amount of Gains and Losses from Changes in Fair Value Included in Earnings (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Change in fair value | $ 3,241 | $ (2,197) | ||
Construction [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Change in fair value | $ 2,162 | $ 285 | 3,241 | (2,197) |
Total change in fair value | $ 2,162 | $ 285 | $ 3,241 | $ (2,197) |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Value and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | $ 54,562 | $ 60,985 | $ 66,977 | $ 46,880 |
Trading securities, Fair Value | 705 | 364 | ||
Available for sale securities, Fair value | 319,009 | 241,643 | ||
Held to maturity securities, Carrying Value | 77,491 | |||
Loans held for sale, at fair value | 97,477 | 91,472 | ||
Loans, net, Carrying Value | 2,229,326 | 2,176,842 | ||
FHLB stock, Carrying Value | 14,059 | 19,144 | ||
Accrued interest receivable, Carrying Value | 9,184 | 9,080 | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (25,335) | (27,192) | ||
Accrued interest payable, Carrying Value | (1,378) | (1,279) | ||
Held to maturity securities, Fair value | 0 | 75,075 | ||
Reported Value Measurement [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | 54,562 | 60,985 | ||
Trading securities, Fair Value | 705 | 364 | ||
Available for sale securities, Fair value | 319,009 | 241,643 | ||
Held to maturity securities, Carrying Value | 77,491 | |||
Loans held for sale, at fair value | 97,477 | 91,472 | ||
Loans, net, Carrying Value | 2,229,326 | 2,176,842 | ||
Purchased certificate of deposit option, Carrying Value | 279 | 261 | ||
Interest rate swaps, Carrying Value | 121 | 56 | ||
Checking, savings and money market accounts, Carrying Value | (1,427,080) | (1,305,439) | ||
Certificates of deposit, Carrying Value | (832,099) | (907,781) | ||
FHLB advances, Carrying Value | (233,000) | (243,000) | ||
Repurchase agreements and other, Carrying Value | (146) | (224) | ||
Written certificate of deposit option, Carrying Value | (279) | (261) | ||
Interest rate swaps, Carrying Value | (133) | (62) | ||
Estimate of Fair Value Measurement [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Trading securities, Fair Value | 234 | 364 | ||
Cash and cash equivalents, Fair Value | 54,562 | 60,985 | ||
Checking, savings and money market accounts, Fair Value | (1,427,080) | (1,305,439) | ||
Estimate of Fair Value Measurement [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Trading securities, Fair Value | 471 | |||
Available for sale securities, Fair value | 319,009 | 241,643 | ||
Loans held for sale, at fair value | 27,912 | 11,221 | ||
Held to maturity securities, Fair value | 71,206 | |||
Purchased certificate of deposit option, Fair Value | 279 | 261 | ||
Interest rate swaps | 121 | 56 | ||
Certificates of deposit, Fair Value | (832,695) | (904,198) | ||
FHLB advances, Fair Value | (233,000) | (243,000) | ||
Repurchase agreements and other, Fair Value | (143) | (213) | ||
Written certificate of deposit option, Fair Value | (279) | (261) | ||
Interest rate swaps, Fair Value | (133) | (62) | ||
Estimate of Fair Value Measurement [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Loans held for sale, at fair value | 69,565 | 80,251 | ||
Held to maturity securities, Fair value | 3,869 | |||
Loans, net, Fair Value | $ 2,225,425 | $ 2,138,319 |
Statement of Cash Flows Suppl_3
Statement of Cash Flows Supplemental Disclosure - Supplemental Disclosures of Cash Flow Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Supplemental Cash Flow Information [Abstract] | ||
Interest on deposits and borrowings | $ 14,872 | $ 10,016 |
Income taxes | 7,125 | 500 |
Supplemental schedule of noncash activities: | ||
Transfers from loans to real estate owned and other repossessed assets | 653 | 489 |
Transfer from held to maturity securities to available for sale securities | 74,560 | |
Accretion of securities held to maturity | 42 | $ 77 |
Right of use asset recorded | $ 5,469 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Stock Option [Member] | ||||
Earnings Per Common Share [Line Items] | ||||
Number of anti-dilutive shares related to stock options | 50,000 | 50,000 | 50,000 | 50,000 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share [Abstract] | ||||||
Net income per consolidated statements of income | $ 10,486 | $ 8,656 | $ 9,541 | $ 8,556 | $ 19,142 | $ 18,097 |
Net income allocated to participating securities | (27) | (41) | (66) | (91) | ||
Net income allocated to common stock | 10,459 | 9,500 | 19,076 | 18,006 | ||
Distributed earnings allocated to common stock | 3,407 | 2,982 | 6,827 | 5,954 | ||
Undistributed earnings allocated to common stock | 7,052 | 6,518 | 12,249 | 12,052 | ||
Net income allocated to common stock | $ 10,459 | $ 9,500 | $ 19,076 | $ 18,006 | ||
Weighted average common shares outstanding, including shares considered participating securities | 48,589 | 49,906 | 48,805 | 49,877 | ||
Less: Average participating securities | (126) | (212) | (167) | (250) | ||
Weighted average shares | 48,463 | 49,694 | 48,638 | 49,627 | ||
Basic earnings per common share | $ 0.22 | $ 0.19 | $ 0.39 | $ 0.36 | ||
Weighted average common shares outstanding for basic earnings per common share | 48,463 | 49,694 | 48,638 | 49,627 | ||
Add: Dilutive effects of assumed exercises of stock options and LTIP awards | 181 | 250 | 201 | 262 | ||
Weighted average shares and dilutive potential common shares | 48,644 | 49,944 | 48,839 | 49,889 | ||
Diluted earnings per common share | $ 0.22 | $ 0.19 | $ 0.39 | $ 0.36 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Equity [Abstract] | ||||
Reclassification of net gains or (losses) included in other comprehensive income | $ 148 | $ 94 | $ 292 | $ 233 |
Other Comprehensive Income (L_4
Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) Components and Related Tax Effects (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Balance | $ 314,709 | $ 309,334 | $ 296,195 | $ 294,265 | $ 309,334 | $ 294,265 |
Other comprehensive income before reclassifications | 3,344 | (1,359) | 6,454 | (5,269) | ||
Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income | 9 | 31 | 33 | 61 | ||
Reclassification adjustment for gains realized in income | (117) | (74) | (231) | (184) | ||
Total other comprehensive income (loss) | 3,236 | 3,020 | (1,402) | (3,990) | 6,256 | (5,392) |
Balance | 317,554 | 314,709 | 301,484 | 296,195 | 317,554 | 301,484 |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Balance | (785) | (3,781) | (4,924) | (904) | (3,781) | (904) |
Other comprehensive income before reclassifications | 3,344 | (1,359) | 6,454 | (5,269) | ||
Transfer of held to maturity securities to available for sale | (512) | (512) | ||||
Reclassification adjustment for gains realized in income | (117) | (74) | (231) | (184) | ||
Total other comprehensive income (loss) | 2,715 | (1,433) | 5,711 | (5,453) | ||
Balance | 1,930 | (785) | (6,357) | (4,924) | 1,930 | (6,357) |
Disproportionate Tax Effect from Securities Available for Sale [Member] | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Balance | (17,110) | (17,110) | (17,110) | (17,110) | (17,110) | (17,110) |
Balance | (17,110) | (17,110) | (17,110) | (17,110) | (17,110) | (17,110) |
Losses on Securities Transferred From Available for Sale to Held to Maturity [Member] | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Balance | (521) | (545) | (641) | (671) | (545) | (671) |
Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income | 9 | 31 | 33 | 61 | ||
Transfer of held to maturity securities to available for sale | 512 | 512 | ||||
Total other comprehensive income (loss) | 521 | 31 | 545 | 61 | ||
Balance | (521) | (610) | (641) | (610) | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Balance | (18,416) | (21,436) | (22,675) | (18,685) | (21,436) | (18,685) |
Total other comprehensive income (loss) | 3,236 | 3,020 | (1,402) | (3,990) | ||
Balance | $ (15,180) | $ (18,416) | $ (24,077) | $ (22,675) | $ (15,180) | $ (24,077) |
Other Comprehensive Income (L_5
Other Comprehensive Income (Loss) - Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||||||
Net gains on securities available for sale | $ 148 | $ 94 | $ 292 | $ 233 | ||
Tax expense | (2,303) | (2,214) | (4,171) | (4,003) | ||
Net income | 10,486 | $ 8,656 | 9,541 | $ 8,556 | 19,142 | 18,097 |
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | ||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||||||
Net income | (117) | (74) | (231) | (184) | ||
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||||||
Net gains on securities available for sale | (148) | (94) | (292) | (233) | ||
Tax expense | $ 31 | $ 20 | $ 61 | $ 49 |
Regulatory Capital Requiremen_3
Regulatory Capital Requirements - Additional Information (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Banking And Thrift [Abstract] | ||
Capital adequacy requirements | The Basel III Capital Rules establish a common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets)and a minimum Tier 1 capital to risk-based assets requirement (6% of risk-weighted assets), and assign a risk weight (150%) to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The rules also require unrealized gains and losses on certain available-for-sale securities holdings to be included for purposes of calculating regulatory capital requirements unless a one-time opt-in or opt-out is exercised. In connection with the adoption of the Basel III Capital Rules, Home Savings elected to opt-out of the requirement to include most components of accumulated other comprehensive income in Common Equity Tier 1. The rule limits a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” consisting of 2.5% of common equity Tier 1 capital risk-based weighted assets in addition to the amount necessary to meeting its minimum risk-based capital requirements. | |
Capital conservation buffer rate | 2.50% | 1.875% |
Regulatory Capital Requiremen_4
Regulatory Capital Requirements - Actual and Statutory Required Capital Amounts and Ratios (Detail) - Home Savings [Member] - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual Amount | $ 310,134 | $ 301,864 |
Tier 1 capital (to risk-weighted assets), Actual Amount | 289,697 | 281,475 |
Common equity Tier 1 capital (to risk-weighted assets), Actual Amount | 289,697 | 281,475 |
Tier 1 capital (to average assets), Actual Amount | $ 289,697 | $ 281,475 |
Total capital (to risk-weighted assets), Actual Ratio | 14.17% | 14.30% |
Tier 1 capital (to risk-weighted assets), Actual Ratio | 13.23% | 13.34% |
Common equity Tier 1 capital (to risk-weighted assets), Actual Ratio | 13.23% | 13.34% |
Tier 1 capital (to average assets), Actual Ratio | 10.32% | 10.11% |
Total capital (to risk-weighted assets), Minimum Capital Requirements Per Regulation Amount | $ 175,147 | $ 168,841 |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Per Regulation Amount | 131,360 | 126,631 |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Per Regulation Amount | 98,520 | 94,973 |
Tier 1 capital (to average assets), Minimum Capital Requirements Per Regulation Amount | $ 112,334 | $ 111,318 |
Total capital (to risk-weighted assets), Minimum Capital Requirements Per Regulation Ratio | 8.00% | 8.00% |
Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Per Regulation Ratio | 6.00% | 6.00% |
Common equity Tier 1 capital (to risk-weighted assets), Minimum Capital Requirements Per Regulation Ratio | 4.50% | 4.50% |
Tier 1 capital (to average assets), Minimum Capital Requirements Per Regulation Ratio | 4.00% | 4.00% |
Total capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 218,934 | $ 211,051 |
Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 175,147 | 168,841 |
Common equity Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 142,307 | 137,183 |
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 140,418 | $ 139,147 |
Total capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 8.00% |
Common equity Tier 1 capital (to risk-weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | 6.50% |
Tier 1 capital (to average assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Regulatory Capital Requiremen_5
Regulatory Capital Requirements - Components of Regulatory Capital (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||||
Total shareholders' equity | $ 317,554 | $ 314,709 | $ 309,334 | $ 301,484 | $ 296,195 | $ 294,265 |
Accumulated other comprehensive income | (15,180) | (21,436) | ||||
Home Savings [Member] | ||||||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||||
Total shareholders' equity | 295,306 | 281,006 | ||||
Accumulated other comprehensive income | 15,195 | 21,450 | ||||
Intangible assets | (20,804) | (20,981) | ||||
Tier 1 Capital | 289,697 | 281,475 | ||||
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 20,437 | 20,389 | ||||
Total risk-based capital | $ 310,134 | $ 301,864 |
Regulatory Capital Requiremen_6
Regulatory Capital Requirements - Components of Regulatory Capital (Parenthetical) (Detail) | Jun. 30, 2019 | Dec. 31, 2018 |
Home Savings [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Allowance for loan and allowance for unfunded lending commitments, percentage of risk-weighted assets | 1.25% | 1.25% |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Deferred tax assets: | ||
Loan loss reserves | $ 4,331 | $ 4,293 |
Depreciation | 314 | 363 |
Other real estate owned valuation | 33 | 65 |
Unrealized loss on securities available for sale | 1,005 | |
Unrealized loss on securities held to maturity | 184 | |
Interest on nonaccrual loans | 338 | 425 |
Net operating loss carryforward | 409 | |
Accrued bonuses | 719 | 840 |
Other | 4 | 125 |
Deferred tax assets | 5,739 | 7,709 |
Deferred tax liabilities: | ||
Deferred loan fees | 1,645 | 1,512 |
Federal Home Loan Bank stock dividends | 613 | 2,749 |
Mortgage servicing rights | 1,391 | 1,603 |
Purchase accounting adjustment | 199 | 62 |
Prepaid expenses | 227 | 228 |
Unrealized gain on securities available for sale | 513 | |
Deferred tax liabilities | 4,588 | 6,154 |
Net deferred tax asset | $ 1,151 | $ 1,555 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||||
Net deferred tax asset | $ 1,151 | $ 1,151 | $ 1,555 | ||
Federal income tax rate | 21.00% | 21.00% | 21.00% | 21.00% |
Income Taxes - Summary of Diffe
Income Taxes - Summary of Difference in Effective Tax Rates and Statutory Federal Income Tax Rate of 21% (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | ||||
Tax at statutory rate, amount | $ 2,686 | $ 2,469 | $ 4,896 | $ 4,641 |
Tax exempt income, amount | (33) | (147) | (93) | (181) |
Life insurance, amount | (83) | (91) | (164) | (182) |
Stock compensation, amount | (22) | (4) | (80) | (132) |
Reversal of disproportionate tax effect, amount | (145) | (145) | ||
Other, amount | (100) | (13) | (243) | (143) |
Income tax provision, total amount | $ 2,303 | $ 2,214 | $ 4,171 | $ 4,003 |
Tax at statutory rate, rate | 21.00% | 21.00% | 21.00% | 21.00% |
Tax exempt income, rate | (0.26%) | (1.26%) | (0.40%) | (0.82%) |
Life insurance, rate | (0.65%) | (0.77%) | (0.70%) | (0.82%) |
Stock compensation, rate | (0.17%) | (0.03%) | (0.34%) | (0.60%) |
Reversal of disproportionate tax effect, rate | (1.13%) | (0.62%) | ||
Other, rate | (0.78%) | (0.11%) | (1.05%) | (0.65%) |
Income tax provision, total rate | 18.01% | 18.83% | 17.89% | 18.11% |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Change in Goodwill (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Beginning of the year | $ 20,221 | $ 20,221 |
End of the year | $ 20,221 | $ 20,221 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)ReportingUnit | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($)ReportingUnit | |
Goodwill And Intangible Assets [Line Items] | |||||
Number of reporting units with carrying amount of zero or less than zero | ReportingUnit | 0 | 0 | |||
Carrying amount of reporting unit | $ 0 | $ 0 | $ 0 | ||
Amortization of intangible assets | 127,000 | $ 132,000 | 255,000 | $ 245,000 | |
Maximum [Member] | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Carrying amount of reporting unit | $ 0 | $ 0 | $ 0 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 13,731 | $ 13,731 |
Accumulated Amortization | 10,169 | 9,914 |
Core deposit intangibles [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 11,184 | 11,184 |
Accumulated Amortization | 9,745 | 9,581 |
Customer list intangible [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,547 | 2,547 |
Accumulated Amortization | $ 424 | $ 333 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Estimated Amortization Expense (Detail) | Jun. 30, 2019USD ($) |
Intangible Assets Accumulated Amortization [Abstract] | |
Remainder of 2019 | $ 255,000 |
2020 | 510,000 |
2021 | 510,000 |
2022 | 510,000 |
2023 | 510,000 |
2024 | $ 510,000 |
Qualified Affordable Housing _2
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Schedule Of Equity Method Investments [Line Items] | |||||
Investment in qualified affordable housing projects | $ 11,000,000 | $ 11,000,000 | $ 8,400,000 | ||
Unfunded commitments of investments in qualified affordable housing projects | 8,500,000 | 8,500,000 | $ 6,500,000 | ||
Recognized amortization expense included in income tax expense | 172,000 | $ 122,000 | 345,000 | $ 243,000 | |
Recognized tax credits and other benefits from investment in affordable housing tax credits | 197,000 | 138,000 | 394,000 | 277,000 | |
Impairment losses related to investment in qualified affordable housing projects | $ 0 | $ 0 | $ 0 | $ 0 | |
Minimum [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Expected period for fulfillment of investment commitments | 8 years | ||||
Maximum [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Expected period for fulfillment of investment commitments | 10 years |
Derivatives - Summary Informati
Derivatives - Summary Information About Purchased and Written Options (Detail) - Written And Purchased Certificate Of Deposit Option [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Non Hedging Interest Rate Derivatives [Line Items] | ||
Notional amount of purchased/written option | $ 12,882 | $ 13,024 |
Weighted average maturity | 1 year | 1 year 7 months 6 days |
Fair value of purchased/written option | $ 279 | $ 261 |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Commercial Loans [Member] | Interest Rate Swap | ||
Derivative [Line Items] | ||
Derivative notional amount | $ 2,500,000 | $ 2,500,000 |
Interest rate derivative assets, at fair value | 121,000 | 56,000 |
Interest rate derivative liabilities, at fair value | 133,000 | 62,000 |
Difference in fair value | 12,000 | 6,000 |
Written And Purchased Certificate Of Deposit Option [Member] | ||
Derivative [Line Items] | ||
Options increased (decreased) | 18,000 | (548,000) |
Interest rate derivative assets, at fair value | $ 279,000 | $ 261,000 |
Derivatives - Freestanding Deri
Derivatives - Freestanding Derivative Assets and Liabilities Not Designated as Hedges (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Derivatives Fair Value [Line Items] | ||
Other assets | $ 32,924 | $ 23,060 |
Not Designated as Hedging Instrument [Member] | Purchased Certificate of Deposit Option [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other assets | 279 | 261 |
Not Designated as Hedging Instrument [Member] | Written Certificate of Deposit Option [Member] | ||
Derivatives Fair Value [Line Items] | ||
Other liabilities | $ 279 | $ 261 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Lessee Lease Description [Line Items] | ||||
Operating lease, option to extend | Operating leases relate primarily to bank branches, office space and license agreements with remaining lease terms of generally 1 to 23 years, which includes options for multiple extensions, with a weighted-average lease term of 7 years. | |||
Operating lease, existence of option to extend | true | |||
Operating lease, weighted average lease term | 7 years | 7 years | ||
Operating lease, ROU assets | $ 4,800,000 | $ 4,800,000 | ||
Operating lease, liabilities | 5,202,000 | 5,202,000 | ||
Operating lease, expense | $ 343,000 | $ 661,000 | ||
Operating lease, weighted average discount rate | 2.68% | 2.68% | ||
Additional operating lease, ROU assets | $ 242,000 | |||
Additional operating lease, liabilities | 242,000 | |||
Right of use asset amortization | 298,000 | $ 626,000 | ||
Short-term lease expense | $ 31,000 | $ 62,000 | ||
Rent expense | $ 259,000,000 | $ 542,000,000 | ||
Minimum [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Remaining lease terms | 1 year | |||
Maximum [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Remaining lease terms | 23 years |
Leases - Summary of Future Mini
Leases - Summary of Future Minimum Lease Payments under Non-Cancellable Leases (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
Remainder of 2019 | $ 667 | |
2020 | 1,231 | |
2021 | 994 | |
2022 | 779 | |
2023 | 424 | |
2024 and thereafter | 1,626 | |
Total lease payments | 5,721 | |
Less: Interest | (519) | |
Present value of lease liabilities | $ 5,202 | |
2019 | $ 1,085 | |
2020 | 949 | |
2021 | 892 | |
2022 | 651 | |
2023 | 346 | |
Thereafter | 867 | |
Total | $ 4,790 |