| LOANS [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
LOANS [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable |
Loans at December 31, 2016 and 2015 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2016
|
|
2015
|
|
Real estate:
|
|
|
|
|
|
|
|
One to four family
|
|
|
$ 177,801
|
|
|
$ 184,613
|
|
Multi-family
|
|
|
6,823
|
|
|
4,521
|
|
Commercial real estate
|
|
|
83,169
|
|
|
62,726
|
|
Construction and land
|
|
|
11,019
|
|
|
6,282
|
|
|
|
|
278,812
|
|
|
258,142
|
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
|
|
38,747
|
|
|
31,841
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
|
10,655
|
|
|
8,287
|
|
Motor vehicle
|
|
|
10,624
|
|
|
10,735
|
|
Other
|
|
|
7,877
|
|
|
7,347
|
|
|
|
|
29,156
|
|
|
26,369
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
346,715
|
|
|
316,352
|
|
Less:
|
|
|
|
|
|
|
|
Net deferred loan fees
|
|
|
445
|
|
|
351
|
|
Allowance for loan losses
|
|
|
2,349
|
|
|
1,858
|
|
Net loans
|
|
|
$ 343,921
|
|
|
$ 314,143
|
|
Schedule of Components of Provision for Loan Loss and Loan Charged Off |
The following tables present the balance in the allowance for loan losses and recorded investment in loans by portfolio segment based on impairment method as of December 31, 2016 and 2015. Accrued interest receivable and net deferred loan fees are not considered significant and therefore are not included in the loan balances presented in the table below (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Loan Losses
|
|
Loan Balances
|
|
|
|
|
|
Purchased
|
|
Collectively
|
|
|
|
|
|
Purchased
|
|
Collectively
|
|
|
|
|
|
Individually
|
|
Credit-
|
|
Evaluated
|
|
|
|
Individually
|
|
Credit-
|
|
Evaluated
|
|
|
|
|
|
Evaluated for
|
|
Impaired
|
|
for
|
|
|
|
Evaluated for
|
|
Impaired
|
|
for
|
|
|
|
Loan Segment
|
|
Impairment
|
|
Loans
|
|
Impairment
|
|
Total
|
|
Impairment
|
|
Loans
|
|
Impairment
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate
|
|
|
$ 23
|
|
|
$ -
|
|
|
$ 1,923
|
|
|
$ 1,946
|
|
|
$ 4,844
|
|
|
$ 1,871
|
|
|
$ 272,097
|
|
|
$ 278,812
|
|
Commercial and industrial
|
|
|
7
|
|
|
-
|
|
|
211
|
|
|
218
|
|
|
89
|
|
|
-
|
|
|
$ 38,658
|
|
|
38,747
|
|
Consumer
|
|
|
-
|
|
|
-
|
|
|
185
|
|
|
185
|
|
|
40
|
|
|
1
|
|
|
$ 29,115
|
|
|
29,156
|
|
Total
|
|
|
$ 30
|
|
|
$ -
|
|
|
$ 2,319
|
|
|
$ 2,349
|
|
|
$ 4,973
|
|
|
$ 1,872
|
|
|
$ 339,870
|
|
|
$ 346,715
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Loan Losses
|
|
Loan Balances
|
|
|
|
|
|
Purchased
|
|
Collectively
|
|
|
|
|
|
Purchased
|
|
Collectively
|
|
|
|
|
|
Individually
|
|
Credit-
|
|
Evaluated
|
|
|
|
Individually
|
|
Credit-
|
|
Evaluated
|
|
|
|
|
|
Evaluated for
|
|
Impaired
|
|
for
|
|
|
|
Evaluated for
|
|
Impaired
|
|
for
|
|
|
|
Loan Segment
|
|
Impairment
|
|
Loans
|
|
Impairment
|
|
Total
|
|
Impairment
|
|
Loans
|
|
Impairment
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate
|
|
|
$ 2
|
|
|
$ -
|
|
|
$ 1,674
|
|
|
$ 1,676
|
|
|
$ 1,497
|
|
|
$ 2,624
|
|
|
$ 254,021
|
|
|
$ 258,142
|
|
Commercial and industrial
|
|
|
-
|
|
|
-
|
|
|
77
|
|
|
77
|
|
|
449
|
|
|
-
|
|
|
31,392
|
|
|
31,841
|
|
Consumer
|
|
|
13
|
|
|
-
|
|
|
92
|
|
|
105
|
|
|
23
|
|
|
16
|
|
|
26,330
|
|
|
26,369
|
|
Total
|
|
|
$ 15
|
|
|
$ -
|
|
|
$ 1,843
|
|
|
$ 1,858
|
|
|
$ 1,969
|
|
|
$ 2,640
|
|
|
$ 311,743
|
|
|
$ 316,352
|
|
Impaired Financing Receivables |
The following table presents information related to impaired loans by class of loans as of December 31, 2016 and December 31, 2015 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016
|
|
December 31, 2015
|
|
|
|
|
|
|
|
|
Allowance
|
|
|
|
|
|
|
Allowance
|
|
|
|
Unpaid
|
|
|
|
|
for Loan
|
|
Unpaid
|
|
|
|
|
for Loan
|
|
|
|
Principal
|
|
Recorded
|
|
Losses
|
|
Principal
|
|
Recorded
|
|
Losses
|
|
|
|
Balance
|
|
Investment
|
|
Allocated
|
|
Balance
|
|
Investment
|
|
Allocated
|
|
With no related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
$ 883
|
|
|
$ 883
|
|
|
$ -
|
|
|
$ 1,416
|
|
|
$ 1,100
|
|
|
$ -
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial real estate
|
|
|
3,780
|
|
|
3,726
|
|
|
-
|
|
|
183
|
|
|
183
|
|
|
-
|
|
Construction and land
|
|
|
193
|
|
|
193
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial and industrial
|
|
|
270
|
|
|
82
|
|
|
-
|
|
|
582
|
|
|
449
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Equity and lines of credit
|
|
|
40
|
|
|
40
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Motor vehicle
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Other
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Subtotal
|
|
|
$ 5,166
|
|
|
$ 4,924
|
|
|
$ -
|
|
|
$ 2,181
|
|
|
$ 1,732
|
|
|
$ -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
$ 42
|
|
|
$ 42
|
|
|
$ 23
|
|
|
$ -
|
|
|
$ -
|
|
|
$ -
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial real estate
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
214
|
|
|
214
|
|
|
2
|
|
Construction and land
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial and industrial
|
|
|
7
|
|
|
7
|
|
|
7
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Equity and lines of credit
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
23
|
|
|
23
|
|
|
13
|
|
Motor vehicle
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Other
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Subtotal
|
|
|
$ 49
|
|
|
$ 49
|
|
|
$ 30
|
|
|
$ 237
|
|
|
$ 237
|
|
|
$ 15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$ 5,215
|
|
|
$ 4,973
|
|
|
$ 30
|
|
|
$ 2,418
|
|
|
$ 1,969
|
|
|
$ 15
|
For purposes of this disclosure, the unpaid balance is not reduced for partial charge-offs.
The following table presents the average balance of loans individually evaluated for impairment and interest income recognized on these loans for the twelve months ended December 31, 2016 and 2015 (in thousands).
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
Interest
|
|
Cash Basis
|
|
Year Ended
|
|
Recorded
|
|
Income
|
|
Interest
|
|
December 31, 2016
|
|
Investment
|
|
Recognized
|
|
Recognized
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
$ 778
|
|
|
$ 13
|
|
|
$ 6
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial real estate
|
|
|
1,927
|
|
|
145
|
|
|
-
|
|
Construction and land
|
|
|
48
|
|
|
10
|
|
|
1
|
|
Commercial and industrial
|
|
|
345
|
|
|
32
|
|
|
1
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Home Equity and lines of credit
|
|
|
26
|
|
|
1
|
|
|
1
|
|
Motor vehicle
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Other
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Subtotal
|
|
|
$ 3,124
|
|
|
$ 201
|
|
|
$ 9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
Interest
|
|
Cash Basis
|
|
Year Ended
|
|
Recorded
|
|
Income
|
|
Interest
|
|
December 31, 2015
|
|
Investment
|
|
Recognized
|
|
Recognized
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
$ 992
|
|
|
$ 4
|
|
|
$ 4
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial real estate
|
|
|
602
|
|
|
-
|
|
|
-
|
|
Construction and land
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial and industrial
|
|
|
358
|
|
|
4
|
|
|
4
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Home Equity and lines of credit
|
|
|
11
|
|
|
-
|
|
|
-
|
|
Motor vehicle
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Other
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Subtotal
|
|
|
$ 1,963
|
|
|
$ 8
|
|
|
$ 8
|
|
Allowance for Credit Losses on Financing Receivables |
The following table presents the activity in the allowance for loan losses by portfolio segment for the periods indicated was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended
|
|
|
|
Commercial
|
|
|
|
|
|
|
|
December 31, 2016
|
|
Real Estate
|
|
and Industrial
|
|
Consumer
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
|
$ 1,676
|
|
|
$ 77
|
|
|
$ 105
|
|
|
$ 1,858
|
|
Provision for loan losses
|
|
|
754
|
|
|
242
|
|
|
253
|
|
|
1,249
|
|
Loans charged-off
|
|
|
(511)
|
|
|
(146)
|
|
|
(280)
|
|
|
(937)
|
|
Recoveries
|
|
|
27
|
|
|
45
|
|
|
107
|
|
|
179
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total ending allowance balance
|
|
|
$ 1,946
|
|
|
$ 218
|
|
|
$ 185
|
|
|
$ 2,349
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended
|
|
|
|
Commercial
|
|
|
|
|
|
|
|
December 31, 2015
|
|
Real Estate
|
|
and Industrial
|
|
Consumer
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
|
$ 1,806
|
|
|
$ 43
|
|
|
$ 62
|
|
|
$ 1,911
|
|
Provision for loan losses
|
|
|
221
|
|
|
96
|
|
|
197
|
|
|
514
|
|
Loans charged-off
|
|
|
(505)
|
|
|
(116)
|
|
|
(241)
|
|
|
(862)
|
|
Recoveries
|
|
|
154
|
|
|
54
|
|
|
87
|
|
|
295
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total ending allowance balance
|
|
|
$ 1,676
|
|
|
$ 77
|
|
|
$ 105
|
|
|
$ 1,858
|
|
Schedule of Financing Receivables, Nonaccrual Status |
The following table presents the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2016 and 2015 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016
|
|
December 31, 2015
|
|
|
|
|
|
Loans Past Due
|
|
|
|
Loans Past Due
|
|
|
|
|
|
Over 90 Days
|
|
|
|
Over 90 Days
|
|
|
|
Nonaccrual
|
|
Still Accruing
|
|
Nonaccrual
|
|
Still Accruing
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
$ 3,428
|
|
|
$ -
|
|
|
$ 2,967
|
|
|
$ -
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial real estate
|
|
|
970
|
|
|
-
|
|
|
773
|
|
|
-
|
|
Construction and land
|
|
|
41
|
|
|
-
|
|
|
259
|
|
|
-
|
|
Commercial and industrial
|
|
|
90
|
|
|
-
|
|
|
449
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
|
155
|
|
|
-
|
|
|
23
|
|
|
-
|
|
Motor vehicle
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Other
|
|
|
5
|
|
|
-
|
|
|
31
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$ 4,689
|
|
|
$ -
|
|
|
$ 4,502
|
|
|
$ -
|
|
Past Due Financing Receivables |
The following table presents the aging of the recorded investment in past due loans as of December 31, 2016 and 2015 by class of loans. Non-accrual loans of $4.7 million and $4.5 million as of December 31, 2016 and 2015 respectively, are included in the tables below and have been categorized based on their payment status (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchased
|
|
|
|
|
|
|
|
|
|
30-59
|
|
60-89
|
|
Greater than
|
|
|
|
Credit-
|
|
|
|
|
|
|
|
Days
|
|
Days
|
|
89 Days
|
|
Total
|
|
Impaired
|
|
Loans Not
|
|
|
|
|
|
Past Due
|
|
Past Due
|
|
Past Due
|
|
Past Due
|
|
Loans
|
|
Past Due
|
|
Total
|
|
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
$ 899
|
|
|
$ 454
|
|
|
$ 1,679
|
|
|
$ 3,032
|
|
|
$ 1,013
|
|
|
$ 173,756
|
|
|
$ 177,801
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
6,823
|
|
|
6,823
|
|
Commercial real estate
|
|
|
101
|
|
|
-
|
|
|
465
|
|
|
566
|
|
|
858
|
|
|
81,745
|
|
|
83,169
|
|
Construction and land
|
|
|
41
|
|
|
-
|
|
|
-
|
|
|
41
|
|
|
-
|
|
|
10,978
|
|
|
11,019
|
|
Commercial and industrial
|
|
|
1
|
|
|
47
|
|
|
76
|
|
|
124
|
|
|
-
|
|
|
38,623
|
|
|
38,747
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Home Equity loans and lines of credit
|
|
|
-
|
|
|
1
|
|
|
155
|
|
|
156
|
|
|
-
|
|
|
10,499
|
|
|
10,655
|
|
Motor vehicle
|
|
|
40
|
|
|
15
|
|
|
-
|
|
|
55
|
|
|
-
|
|
|
10,569
|
|
|
10,624
|
|
Other
|
|
|
2
|
|
|
20
|
|
|
-
|
|
|
22
|
|
|
1
|
|
|
7,854
|
|
|
7,877
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$ 1,084
|
|
|
$ 537
|
|
|
$ 2,375
|
|
|
$ 3,996
|
|
|
$ 1,872
|
|
|
$ 340,847
|
|
|
$ 346,715
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchased
|
|
|
|
|
|
|
|
|
|
30-59
|
|
60-89
|
|
Greater than
|
|
|
|
Credit-
|
|
|
|
|
|
|
|
Days
|
|
Days
|
|
89 Days
|
|
Total
|
|
Impaired
|
|
Loans Not
|
|
|
|
|
|
Past Due
|
|
Past Due
|
|
Past Due
|
|
Past Due
|
|
Loans
|
|
Past Due
|
|
Total
|
|
December 31, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
$ 1,152
|
|
|
$ 35
|
|
|
$ 1,226
|
|
|
$ 2,413
|
|
|
$ 1,305
|
|
|
$ 180,895
|
|
|
$ 184,613
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
4,521
|
|
|
4,521
|
|
Commercial real estate
|
|
|
44
|
|
|
-
|
|
|
214
|
|
|
258
|
|
|
1,061
|
|
|
61,407
|
|
|
62,726
|
|
Construction and land
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
258
|
|
|
6,024
|
|
|
6,282
|
|
Commercial and industrial
|
|
|
3
|
|
|
19
|
|
|
362
|
|
|
384
|
|
|
-
|
|
|
31,457
|
|
|
31,841
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
-
|
|
|
|
|
|
|
|
|
-
|
|
Home Equity loans and lines of credit
|
|
|
-
|
|
|
-
|
|
|
23
|
|
|
23
|
|
|
-
|
|
|
8,264
|
|
|
8,287
|
|
Motor vehicle
|
|
|
21
|
|
|
1
|
|
|
-
|
|
|
22
|
|
|
4
|
|
|
10,709
|
|
|
10,735
|
|
Other
|
|
|
25
|
|
|
2
|
|
|
1
|
|
|
28
|
|
|
12
|
|
|
7,307
|
|
|
7,347
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$ 1,245
|
|
|
$ 57
|
|
|
$ 1,826
|
|
|
$ 3,128
|
|
|
$ 2,640
|
|
|
$ 310,584
|
|
|
$ 316,352
|
|
Troubled Debt Restructurings on Financing Receivables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TDR's on Non-
|
|
|
|
|
|
December 31, 2016
|
|
accrual status
|
|
Other TDR's
|
|
Total TDR's
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
$
|
-
|
|
$
|
17
|
|
$
|
17
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial real estate
|
|
|
166
|
|
|
3,047
|
|
|
3,213
|
|
Construction and land
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial and industrial
|
|
|
19
|
|
|
-
|
|
|
19
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Motor vehicle
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Other
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
185
|
|
$
|
3,064
|
|
$
|
3,249
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TDR's on Non-
|
|
|
|
|
|
December 31, 2015
|
|
accrual status
|
|
Other TDR's
|
|
Total TDR's
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
$
|
-
|
|
$
|
105
|
|
$
|
105
|
|
Multi-family
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial real estate
|
|
|
183
|
|
|
-
|
|
|
183
|
|
Construction and land
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial and industrial
|
|
|
19
|
|
|
-
|
|
|
19
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Motor vehicle
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Other
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
202
|
|
$
|
105
|
|
$
|
307
|
The following table presents loans by class modified as troubled debt restructuring that occurred during the years ended December 31, 2016 and 2015.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2016
|
|
Year Ended December 31, 2015
|
|
|
|
|
|
Pre-
|
|
Post-
|
|
|
|
Pre-
|
|
Post-
|
|
|
|
|
|
Modification
|
|
Modification
|
|
|
|
Modification
|
|
Modification
|
|
|
|
Number
|
|
Outstanding
|
|
Outstanding
|
|
Number
|
|
Outstanding
|
|
Outstanding
|
|
|
|
of
|
|
Recorded
|
|
Recorded
|
|
of
|
|
Recorded
|
|
Recorded
|
|
(Dollars in thousands)
|
|
Loans
|
|
Investment
|
|
Investment
|
|
Loans
|
|
Investment
|
|
Investment
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
1
|
|
$
|
17
|
|
$
|
17
|
|
1
|
|
$
|
105
|
|
$
|
105
|
|
Multi-family
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial real estate
|
|
1
|
|
|
2,200
|
|
|
2,200
|
|
-
|
|
|
-
|
|
|
-
|
|
Construction and land
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
Commercial and industrial
|
|
1
|
|
|
847
|
|
|
847
|
|
-
|
|
|
-
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
Motor vehicle
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
Other
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
3
|
|
$
|
3,064
|
|
$
|
3,064
|
|
1
|
|
$
|
105
|
|
$
|
105
|
|
Loan Risk Category by Class of Loan |
Based on the most recent analysis performed, the risk category of loans by class of loans is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Special
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016
|
|
Pass
|
|
Mention
|
|
Substandard
|
|
Doubtful
|
|
Total
|
|
One to four family
|
|
|
$ 171,109
|
|
|
$ 2,167
|
|
|
$ 4,525
|
|
|
$ -
|
|
|
$ 177,801
|
|
Multi-family
|
|
|
6,823
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
6,823
|
|
Commercial real estate
|
|
|
74,267
|
|
|
4,048
|
|
|
4,854
|
|
|
-
|
|
|
83,169
|
|
Construction and land
|
|
|
10,826
|
|
|
-
|
|
|
193
|
|
|
-
|
|
|
11,019
|
|
Commercial and industrial
|
|
|
36,172
|
|
|
1,802
|
|
|
773
|
|
|
-
|
|
|
38,747
|
|
Home equity loans and lines of credit
|
|
|
10,478
|
|
|
6
|
|
|
171
|
|
|
-
|
|
|
10,655
|
|
Motor vehicle
|
|
|
10,594
|
|
|
2
|
|
|
28
|
|
|
-
|
|
|
10,624
|
|
Other
|
|
|
7,872
|
|
|
-
|
|
|
5
|
|
|
-
|
|
|
7,877
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$ 328,141
|
|
|
$ 8,025
|
|
|
$ 10,549
|
|
|
$ -
|
|
|
$ 346,715
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Special
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015
|
|
Pass
|
|
Mention
|
|
Substandard
|
|
Doubtful
|
|
Total
|
|
One to four family
|
|
|
$ 176,824
|
|
|
$ 2,716
|
|
|
$ 5,073
|
|
|
$ -
|
|
|
$ 184,613
|
|
Multi-family
|
|
|
4,521
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
4,521
|
|
Commercial real estate
|
|
|
60,544
|
|
|
107
|
|
|
2,075
|
|
|
-
|
|
|
62,726
|
|
Construction and land
|
|
|
6,023
|
|
|
-
|
|
|
259
|
|
|
-
|
|
|
6,282
|
|
Commercial and industrial
|
|
|
30,551
|
|
|
5
|
|
|
1,285
|
|
|
-
|
|
|
31,841
|
|
Home equity loans and lines of credit
|
|
|
8,262
|
|
|
-
|
|
|
25
|
|
|
-
|
|
|
8,287
|
|
Motor vehicle
|
|
|
10,703
|
|
|
-
|
|
|
32
|
|
|
-
|
|
|
10,735
|
|
Other
|
|
|
7,306
|
|
|
8
|
|
|
33
|
|
|
-
|
|
|
7,347
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$ 304,734
|
|
|
$ 2,836
|
|
|
$ 8,782
|
|
|
$ -
|
|
|
$ 316,352
|
|
Schedule of Financing Receivable, Acquired With and Without Evidence of Deteriorated Credit Quality |
A summary of non-impaired purchased loans and credit-impaired purchased loans with the carrying amount of those loans is as follows at December 31, 2016 and 2015 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-impaired
|
|
Credit-impaired
|
|
|
|
Purchased
|
|
Purchased
|
|
Purchased Loans as of December 31, 2016
|
|
Loans
|
|
Loans
|
|
Real Estate:
|
|
|
|
|
|
|
|
One to four family
|
|
$
|
30,449
|
|
$
|
1,013
|
|
Multi-family
|
|
|
2,115
|
|
|
-
|
|
Commercial real estate
|
|
|
19,278
|
|
|
858
|
|
Construction and land
|
|
|
652
|
|
|
-
|
|
Commercial and industrial
|
|
|
2,783
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
|
1,433
|
|
|
-
|
|
Motor vehicle
|
|
|
202
|
|
|
-
|
|
Other
|
|
|
706
|
|
|
1
|
|
Total
|
|
$
|
57,618
|
|
$
|
1,872
|
|
|
|
|
|
|
|
|
|
|
|
Non-impaired
|
|
Credit-impaired
|
|
|
|
Purchased
|
|
Purchased
|
|
Purchased Loans as of December 31, 2015
|
|
Loans
|
|
Loans
|
|
Real Estate:
|
|
|
|
|
|
|
|
One to four family
|
|
$
|
37,557
|
|
$
|
1,305
|
|
Multi-family
|
|
|
2,376
|
|
|
-
|
|
Commercial real estate
|
|
|
25,946
|
|
|
1,061
|
|
Construction and land
|
|
|
1,058
|
|
|
258
|
|
Commercial and industrial
|
|
|
7,122
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
|
1,660
|
|
|
-
|
|
Motor vehicle
|
|
|
605
|
|
|
4
|
|
Other
|
|
|
1,107
|
|
|
12
|
|
Total
|
|
$
|
77,431
|
|
$
|
2,640
|
|
Schedule of Composition of Acquired Financing Receivable |
The following tables present the composition of the acquired loans at December 31, 2016 and 2015 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual
|
|
Remaining
|
|
Carrying
|
|
As of December 31, 2016
|
|
Amount
|
|
Discount
|
|
Amount
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
32,006
|
|
|
(544)
|
|
|
31,462
|
|
Multi-family
|
|
|
2,129
|
|
|
(14)
|
|
|
2,115
|
|
Commercial real estate
|
|
|
20,460
|
|
|
(324)
|
|
|
20,136
|
|
Construction and land
|
|
|
656
|
|
|
(4)
|
|
|
652
|
|
Commercial and industrial
|
|
|
2,802
|
|
|
(19)
|
|
|
2,783
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
|
1,445
|
|
|
(12)
|
|
|
1,433
|
|
Motor vehicle
|
|
|
204
|
|
|
(2)
|
|
|
202
|
|
Other
|
|
|
713
|
|
|
(6)
|
|
|
707
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$ 60,415
|
|
|
$ (925)
|
|
|
$ 59,490
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual
|
|
Remaining
|
|
Carrying
|
|
As of December 31, 2015
|
|
Amount
|
|
Discount
|
|
Amount
|
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
One to four family
|
|
|
39,682
|
|
|
(820)
|
|
|
38,862
|
|
Multi-family
|
|
|
2,407
|
|
|
(31)
|
|
|
2,376
|
|
Commercial real estate
|
|
|
27,636
|
|
|
(629)
|
|
|
27,007
|
|
Construction and land
|
|
|
1,333
|
|
|
(17)
|
|
|
1,316
|
|
Commercial and industrial
|
|
|
7,243
|
|
|
(121)
|
|
|
7,122
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Home equity loans and lines of credit
|
|
|
1,681
|
|
|
(21)
|
|
|
1,660
|
|
Motor vehicle
|
|
|
617
|
|
|
(8)
|
|
|
609
|
|
Other
|
|
|
1,139
|
|
|
(20)
|
|
|
1,119
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$ 81,738
|
|
|
$ (1,667)
|
|
|
$ 80,071
|
|
Schedule of Loans and Debt Securities Acquired with Deteriorated Credit Quality |
The following table presents the purchased loans that are included within the scope of ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, as of December 31, 2016 and 2015.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
December 31, 2016
|
|
December 31, 2015
|
|
|
|
|
|
|
|
|
|
Carrying amount
|
|
$
|
1,872
|
|
$
|
2,640
|
|
Non-accretable difference
|
|
|
272
|
|
|
349
|
|
Accretable yield
|
|
|
146
|
|
|
292
|
|
Contractually-required principal and interest payments
|
|
$
|
2,290
|
|
$
|
3,281
|
|
|
|
|
|
|
|
|
The Company adjusted interest income to recognize $146,000 and $861,000 of accretable yield on credit-impaired purchased loans for the year ended December 31, 2016 and 2015, respectively.
|
|
|
|
|
|
|
|
|
Accretable yield, or income expected to be collected, is as follows:
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
Balance at January 1
|
$
|
292
|
|
$
|
1,143
|
|
|
New Loans Purchased
|
|
-
|
|
|
10
|
|
|
Accretion of income
|
|
(146)
|
|
|
(861)
|
|
|
Reclassifications from nonaccretable difference
|
|
-
|
|
|
-
|
|
|
Disposals
|
|
-
|
|
|
-
|
|
|
Balance at December 31
|
$
|
146
|
|
$
|
292
|
|