Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and Liabilities Measured on a Recurring Basis

The assets and liabilities measured at fair value on a recurring basis at September 30, 2015, are summarized below:

	Total carrying		Quoted Prices		Significant
September 30, 2015	value in the		In Active		Other		Significant
	consolidated		Markets for		Observable		Unobservable
	balance sheet at		Identical Assets		Inputs		Inputs
Description	September 30, 2015		(Level 1)		(Level 2)		(Level 3)
Assets
Available for sale securities	$	239,922		2,010		236,122		1,790
Liabilities
Interest rate swap	$	99		—		99		—

The assets and liabilities measured at fair value on a recurring basis at December 31, 2014, are summarized below

	Total carrying		Quoted Prices		Significant
	value in the		In Active		Other		Significant
December 31, 2014	consolidated		Markets for		Observable		Unobservable
	balance sheet at		Identical Assets		Inputs		Inputs
Description	December 31, 2014		(Level 1)		(Level 2)		(Level 3)
Assets
Available for sale securities	$	303,628		3,980		298,159		1,489
Liabilities
Interest rate swap	$	390		—		390		—

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The assets and liabilities measured at fair value on a non-recurring basis are summarized below for September 30, 2015:

	Total carrying		Quoted Prices		Significant
	value in the		In Active		Other		Significant
September 30, 2015	consolidated		Markets for		Observable		Unobservable
	balance sheet at		Identical Assets		Inputs		Inputs
Description	9/30/2015		(Level 1)		(Level 2)		(Level 3)
	(Dollars in Thousands)
Assets
Other real estate and other assets owned	$	1,736		—		—	$	1,736
Impaired loans, net of reserve of $545	$	3,518		—		—	$	3,518

The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2014:

	Total carrying		Quoted Prices		Significant
	value in the		In Active		Other		Significant
December 31, 2014	consolidated		Markets for		Observable		Unobservable
	balance sheet at		Identical Assets		Inputs		Inputs
Description	12/31/2014		(Level 1)		(Level 2)		(Level 3)
Assets
Other real estate and other assets owned	$	1,927		—		—	$	1,927
Impaired loans, net of reserve of $1,514	$	3,869		—		—	$	3,869

Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items

The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the nine month periods ended September 30, 2015, and September 30, 2014, (including the change in fair value) for assets and liabilities classified by HopFed Bancorp, Inc. within level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis. When a determination is made to classify an asset or liability within level 3 of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement. However, since level 3 assets and liabilities typically include, in addition to the unobservable or level 3 components, observable components (that is components that are actively quoted and can be validated to external sources), the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology.

	2015				2014
Nine month period ended September 30,	Other Assets		Other Liabilities		Other Assets		Other Liabilities
	(Dollars in Thousands)
Fair value, January 1,	$	1,489		—		1,489		—
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at September 30,		289		—		—		—
Accretion of previous discounted amounts		12		—		—		—
Purchases, issuances and settlements, net		—		—		—		—
Transfers in and/or out of Level 3		—		—		—		—
Fair value, September 30,	$	1,790		—		1,489		—

Estimated Fair Values of Financial Instruments

The estimated fair values of financial instruments were as follows at September 30, 2015:

							Using
					Quoted Prices		Significant
					In Active Markets		Other		Significant
			Estimated		for Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
	Amount		Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from banks	$	18,110		18,110		18,110		—		—
Interest-earning deposits		5,647		5,647		5,647		—		—
Securities available for sale		239,922		239,922		2,010		236,122		1,790
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans held for sale		5,298		5,298		—		5,298		—
Loans receivable		561,514		562,862		—		—		562,862
Accrued interest receivable		4,119		4,119		—		4,119		—
Financial liabilities:
Deposits		706,198		689,565		—		689,565		—
Advances from borrowers for taxes and insurance		1,077		1,077		—		1,077		—
Advances from Federal Home Loan Bank		25,000		24,979		—		24,979		—
Repurchase agreements		46,300		46,516		—		46,516		—
Subordinated debentures		10,310		10,099		—		—		10,099
Off-balance-sheet liabilities:
Market value of interest rate swap		99		99		—		99		—

The estimated fair values of financial instruments were as follows at December 31, 2014:

							Using
					Quoted Prices		Significant
					In Active Markets		Other		Significant
			Estimated		for Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
	Amount		Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from banks	$	34,389		34,389		34,389		—		—
Interest-earning deposits		6,050		6,050		6,050		—		—
Securities available for sale		303,628		303,628		3,980		298,159		1,489
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans held for sale		1,444		1,444		—		1,444		—
Loans receivable		539,264		537,493		—		—		537,493
Accrued interest receivable		4,576		4,576		—		4,576		—
Financial liabilities:
Deposits		731,308		714,750		—		714,750		—
Advances from borrowers for taxes and insurance		513		513		—		513		—
Advances from Federal Home Loan Bank		34,000		34,217		—		34,217		—
Repurchase agreements		57,358		57,688		—		57,688		—
Subordinated debentures		10,310		10,099		—		—		10,099
Off-balance-sheet liabilities:
Market value of interest rate swap		390		390		—		390		—