Loans, Allowance for Loan Losses and Impaired Loans (Tables)

9 Months Ended

Jun. 30, 2014

Changes in a specific component on impaired loans and a general component for non-impaired loans for the periods

Changes in the ALL by loan type for the periods presented below were as follows:



	Real Estate			Consumer and Other			Total
Nine Months Ended June 30, 2014:
Allowance for Loan Losses:
Beginning balance, October 1, 2013	$	2,541		$	3,639		$	6,180
Charge-offs	(1,025		)	(573		)	(1,598		)
Recoveries	22			199			221
Provision	1,108			427			1,535
Ending balance, June 30, 2014	$	2,646		$	3,692		$	6,338
Allowance for Loan Losses at June 30, 2014:
Amount of Allowance for Loan Losses arising from loans individually evaluated for impairment	$	610		$	208		$	818
Amount of Allowance for Loan Losses arising from loans collectively evaluated for impairment	$	2,036		$	3,484		$	5,520
Loans Receivable as of June 30, 2014:
Ending balance	$	264,749		$	199,828		$	464,577
Ending balance: individually evaluated for impairment	$	7,481		$	1,221		$	8,702
Ending balance: collectively evaluated for impairment	$	257,268		$	198,607		$	455,875



	Real Estate			Consumer and Other			Total
Year ended September 30, 2013
Allowance for Loan Losses:
Beginning balance, October 1, 2012	$	2,287		$	3,458		$	5,745
Charge-offs	(1,525		)	(1,494		)	(3,019		)
Recoveries	36			275			311
Provision	1,743			1,400			3,143
Ending balance, September 30, 2013	$	2,541		$	3,639		$	6,180
Allowance for Loan Losses at September 30, 2013:
Amount of Allowance for Loan Losses arising from loans individually evaluated for impairment	$	667		$	316		$	983
Amount of Allowance for Loan Losses arising from loans collectively evaluated for impairment	$	1,874		$	3,323		$	5,197
Loans Receivable as of September 30, 2013:
Ending balance	264,388			176,475			$	440,863
Ending balance: individually evaluated for impairment	3,659			907			$	4,566
Ending balance: collectively evaluated for impairment	$	260,729		$	175,568		$	436,297

Loans receivable

Loans receivable by loan type as of the end of the periods shown below were as follows:



	Real Estate Loans				Consumer and Other Loans				Total Loans
	June 30, 2014		September 30, 2013		June 30, 2014		September 30, 2013		June 30, 2014		September 30, 2013
Performing loans
Performing TDR loans	$	5,062	$	6,254	$	837	$	1,101	$	5,899	$	7,355
Performing loans other	258,602		255,951		198,694		174,949		457,296		430,900
Total performing loans	263,664		262,205		199,531		176,050		463,195		438,255

Nonperforming loans (1)
Nonperforming TDR loans	177		1,187		54		76		231		1,263
Nonperforming loans other	908		996		243		349		1,151		1,345
Total nonperforming loans	$	1,085	$	2,183	$	297	$	425	$	1,382	$	2,608
Total loans	$	264,749	$	264,388	$	199,828	$	176,475	$	464,577	$	440,863


(1)	Nonperforming loans are either 90+ days past due or nonaccrual.

Aging analysis of the Bank real estate and consumer loans

An aging analysis of the Company’s real estate, consumer and other loans and purchased third party loans as of June 30, 2014 and September 30, 2013, respectively, was as follows:



	1 Month Past Due		2 Months Past Due		Greater Than 3 Months		Total Past Due		Current		Total Loans		Recorded Investment > 3 months and Accruing
June 30, 2014
Real estate loans	$	310	$	1,051	$	851	$	2,212	$	262,537	$	264,749	$	424
Consumer and other loans	361		115		100		576		170,189		170,765		33
Purchased third party loans	156		99		77		332		28,731		29,063		77
Total	$	827	$	1,265	$	1,028	$	3,120	$	461,457	$	464,577	$	534
September 30, 2013
Real estate loans	$	2,057	$	351	$	1,905	$	4,313	$	260,075	$	264,388	$	371
Consumer and other loans	746		121		214		1,081		155,416		156,497		80
Purchased third party loans	112		66		32		210		19,768		19,978		32
Total	$	2,915	$	538	$	2,151	$	5,604	$	435,259	$	440,863	$	483

Bank impaired loans

A summary of the Company’s impaired loans as of June 30, 2014 and September 30, 2013 was as follows:



	With No Related Allowance Recorded						With An Allowance Recorded						Totals
	Real Estate		Consumer and Other		Total		Real Estate		Consumer and Other		Total		Real Estate		Consumer and Other		Total
Recorded investment at June 30, 2014	$	4,551	$	472	$	5,023	$	2,930	$	749	$	3,679	$	7,481	$	1,221	$	8,702
Unpaid balance at June 30, 2014	4,551		472		5,023		2,930		749		3,679		7,481		1,221		8,702
Recorded investment at September 30, 2013	5,349		771		6,120		3,659		907		4,566		9,008		1,678		10,686
Unpaid balance at September 30, 2013	5,349		771		6,120		3,659		907		4,566		9,008		1,678		10,686
Average recorded investment; nine months ended June 30, 2014	4,816		634		5,450		3,372		846		4,218		8,188		1,480		9,668
Average recorded investment; twelve months ended September 30, 2013	4,185		609		4,794		4,197		993		5,190		8,382		1,602		9,984
Interest income received; nine months ended June 30, 2014	112		27		139		59		16		75		171		43		214
Interest income received; twelve months ended September 30, 2013	202		71		273		69		40		109		271		111		382

Troubled Debt Restructuring

A summary of loans by loan type modified in a troubled debt restructuring as of June 30, 2014 and June 30, 2013, and during each of the nine months then ended, and as of September 30, 2013 and during the twelve months then ended was as follows:



	Real Estate			Consumer and Other			Total
June 30, 2014 and
Nine Months then Ended:
Accruing / Performing:
Beginning balance	$	6,254		$	1,101		$	7,355
Principal payments	(718		)	(218		)	(936		)
Charge-offs	(41		)	(30		)	(71		)
Advances	—			—			—
New restructured (1)	40			24			64
Class transfers (2)	—			—			—
Transfers between accrual/non-accrual	(473		)	(40		)	(513		)
Ending balance	$	5,062		$	837		$	5,899
Non-accrual / Non-performing:
Beginning balance	$	1,187		$	76		$	1,263
Principal payments	(1,087		)	(34		)	(1,121		)
Charge-offs	(414		)	(49		)	(463		)
Advances	3			—			3
New restructured (1)	—			16			16
Class transfers (2)	15			5			20
Transfers between accrual/non-accrual	473			40			513
Ending balance	$	177		$	54		$	231
Totals:
Beginning balance	$	7,441		$	1,177		$	8,618
Principal payments	(1,805		)	(252		)	(2,057		)
Charge-offs	(455		)	(79		)	(534		)
Advances	3			—			3
New restructured (1)	40			40			80
Class transfers (2)	15			5			20
Transfers between accrual/non-accrual	—			—			—
Ending balance	$	5,239		$	891		$	6,130


(1)	“New restructured” represent loans restructured during the current period that met TDR criteria in accordance with the Bank’s policy at the time of the restructuring.


(2)	“Class transfers” represent previously restructured loans that met TDR criteria per the Bank’s policy for the first time during the current period.



	Real Estate			Consumer and Other			Total
June 30, 2013 and
Nine Months then Ended:
Accruing / Performing:
Beginning balance	$	5,751		$	1,055		$	6,806
Principal payments	(353		)	(231		)	(584		)
Charge-offs	(55		)	(4		)	(59		)
Advances	17			3			20
New restructured (1)	149			182			331
Class transfers (2)	701			112			813
Transfers between accrual/non-accrual	(465		)	—			(465		)
Ending balance	$	5,745		$	1,117		$	6,862
Non-accrual / Non-performing:
Beginning balance	$	1,259		$	70		$	1,329
Principal payments	(524		)	(64		)	(588		)
Charge-offs	(156		)	(13		)	(169		)
Advances	12			3			15
New restructured (1)	—			1			1
Class transfers (2)	282			217			499
Transfers between accrual/non-accrual	465			—			465
Ending balance	$	1,338		$	214		$	1,552
Totals:
Beginning balance	$	7,010		$	1,125		$	8,135
Principal payments	(877		)	(295		)	(1,172		)
Charge-offs	(211		)	(17		)	(228		)
Advances	29			6			35
New restructured (1)	149			183			332
Class transfers (2)	983			329			1,312
Transfers between accrual/non-accrual	—			—			—
Ending balance	$	7,083		$	1,331		$	8,414


(1)	“New restructured” represent loans restructured during the current period that met TDR criteria in accordance with the Bank’s policy at the time of the restructuring.


(2)	“Class transfers” represent previously restructured loans that met TDR criteria per the Bank’s policy for the first time during the current period.



	Real Estate			Consumer and Other			Total
September 30, 2013 and
Twelve Months then Ended:
Accruing / Performing:
Beginning balance	$	5,751		$	1,055		$	6,806
Principal payments	(397		)	(388		)	(785		)
Charge-offs	(131		)	(42		)	(173		)
Advances	21			7			28
New restructured (1)	181			191			372
Class transfers (2)	1,294			263			1,557
Transfers between accrual/non-accrual	(465		)	15			(450		)
Ending balance	$	6,254		$	1,101		$	7,355
Non-accrual / Non-performing:
Beginning balance	$	1,259		$	70		$	1,329
Principal payments	(557		)	(86		)	(643		)
Charge-offs	(248		)	(24		)	(272		)
Advances	13			3			16
New restructured (1)	—			1			1
Class transfers (2)	255			127			382
Transfers between accrual/non-accrual	465			(15		)	450
Ending balance	$	1,187		$	76		$	1,263
Totals:
Beginning balance	$	7,010		$	1,125		$	8,135
Principal payments	(954		)	(474		)	(1,428		)
Charge-offs	(379		)	(66		)	(445		)
Advances	34			10			44
New restructured (1)	181			192			373
Class transfers (2)	1,549			390			1,939
Transfers between accrual/non-accrual	—			—			—
Ending balance	$	7,441		$	1,177		$	8,618


(1)	“New restructured” represent loans restructured during the current period that met TDR criteria in accordance with the Bank’s policy at the time of the restructuring.


(2)	“Class transfers” represent previously restructured loans that met TDR criteria per the Bank’s policy for the first time during the current period.



	June 30, 2014			September 30, 2013
	Number of Modifications	Recorded Investment		Number of Modifications	Recorded Investment
Troubled debt restructurings:
Real estate	49	$	5,239	62	$	7,441
Consumer and other	58	891		90	1,177
Total troubled debt restructurings	107	$	6,130	152	$	8,618