Loans (Tables)

6 Months Ended

Dec. 31, 2016

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans consist of the following at the dates indicated:



	December 31, 2016			June 30, 2016
Retail consumer loans:
One-to-four family	$	608,118		$	623,701
HELOCs - originated	156,615			163,293
HELOCs - purchased	173,511			144,377
Construction and land/lots	42,628			38,102
Indirect auto finance	129,132			108,478
Consumer	5,852			4,635
Total retail consumer loans	1,115,856			1,082,586
Commercial loans:
Commercial real estate	531,321			486,561
Construction and development	129,370			86,840
Commercial and industrial	77,352			73,289
Municipal leases	101,730			103,183
Total commercial loans	839,773			749,873
Total loans	1,955,629			1,832,459
Deferred loan costs (fees), net	(25		)	372
Total loans, net of deferred loan fees	1,955,604			1,832,831
Allowance for loan and lease losses	(20,986		)	(21,292		)
Loans, net	$	1,934,618		$	1,811,539

Financing Receivable Credit Quality Indicators

The Company's total non-purchased and purchased performing loans by segment, class, and risk grade at the dates indicated follow:



	Pass		Special Mention		Substandard		Doubtful		Loss		Total
December 31, 2016
Retail consumer loans:
One-to-four family	$	575,429	$	8,320	$	17,898	$	1,239	$	48	$	602,934
HELOCs - originated	152,810		944		2,514		55		9		156,332
HELOCs - purchased	173,511		—		—		—		—		173,511
Construction and land/lots	40,774		696		590		32		—		42,092
Indirect auto finance	128,903		25		203		—		1		129,132
Consumer	5,617		1		215		3		10		5,846
Commercial loans:
Commercial real estate	498,507		6,445		9,847		1		—		514,800
Construction and development	121,946		819		3,824		—		—		126,589
Commercial and industrial	69,119		850		4,264		—		1		74,234
Municipal leases	100,129		963		638		—		—		101,730
Total loans	$	1,866,745	$	19,063	$	39,993	$	1,330	$	69	$	1,927,200



	Pass		Special Mention		Substandard		Doubtful		Loss		Total
June 30, 2016
Retail consumer loans:
One-to-four family	$	587,440	$	7,800	$	20,129	$	1,283	$	11	$	616,663
HELOCs - originated	159,275		678		2,997		55		10		163,015
HELOCs - purchased	144,377		—		—		—		—		144,377
Construction and land/lots	36,298		542		679		9		—		37,528
Indirect auto finance	108,432		14		21		11		—		108,478
Consumer	4,390		1		224		2		9		4,626
Commercial loans:
Commercial real estate	448,188		7,817		9,232		1		—		465,238
Construction and development	79,005		480		4,208		—		—		83,693
Commercial and industrial	63,299		1,032		5,361		—		2		69,694
Municipal leases	100,867		1,651		665		—		—		103,183
Total loans	$	1,731,571	$	20,015	$	43,516	$	1,361	$	32	$	1,796,495

The Company's total PCI loans by segment, class, and risk grade at the dates indicated follow:



	Pass		Special Mention		Substandard		Doubtful		Loss		Total
December 31, 2016
Retail consumer loans:
One-to-four family	$	3,175	$	471	$	1,358	$	180	$	—	$	5,184
HELOCs - originated	257		—		26		—		—		283
Construction and land/lots	494		—		42		—		—		536
Consumer	6		—		—		—		—		6
Commercial loans:
Commercial real estate	8,800		3,612		4,109		—		—		16,521
Construction and development	812		—		1,969		—		—		2,781
Commercial and industrial	2,989		84		45		—		—		3,118
Total loans	$	16,533	$	4,167	$	7,549	$	180	$	—	$	28,429



	Pass		Special Mention		Substandard		Doubtful		Loss		Total
June 30, 2016
Retail consumer loans:
One-to-four family	$	5,039	$	377	$	1,593	$	14	$	15	$	7,038
HELOCs - originated	258		—		20		—		—		278
Construction and land/lots	522		—		52		—		—		574
Consumer	8		—		—		—		1		9
Commercial loans:
Commercial real estate	12,594		4,266		4,463		—		—		21,323
Construction and development	1,136		292		1,719		—		—		3,147
Commercial and industrial	3,234		194		167		—		—		3,595
Total loans	$	22,791	$	5,129	$	8,014	$	14	$	16	$	35,964

Past Due Financing Receivables

The Company's total loans by segment, class, and delinquency status at the dates indicated follows:



	Past Due								Total
	30-89 Days		90 Days+		Total		Current		Loans
December 31, 2016
Retail consumer loans:
One-to-four family	$	3,733	$	3,728	$	7,461	$	600,657	$	608,118
HELOCs - originated	569		354		923		155,692		156,615
HELOCs - purchased	—		—		—		173,511		173,511
Construction and land/lots	116		83		199		42,429		42,628
Indirect auto finance	353		30		383		128,749		129,132
Consumer	45		13		58		5,794		5,852
Commercial loans:
Commercial real estate	128		4,486		4,614		526,707		531,321
Construction and development	638		1,222		1,860		127,510		129,370
Commercial and industrial	575		1,714		2,289		75,063		77,352
Municipal leases	114		—		114		101,616		101,730
Total loans	$	6,271	$	11,630	$	17,901	$	1,937,728	$	1,955,629

The table above includes PCI loans of $214 30-89 days past due and $5,382 90 days or more past due as of December 31, 2016.



	Past Due								Total
	30-89 Days		90 Days+		Total		Current		Loans
June 30, 2016
Retail consumer loans:
One-to-four family	$	3,514	$	5,476	$	8,990	$	614,711	$	623,701
HELOCs - originated	220		377		597		162,696		163,293
HELOCs - purchased	—		—		—		144,377		144,377
Construction and land/lots	100		119		219		37,883		38,102
Indirect auto finance	182		—		182		108,296		108,478
Consumer	4		4		8		4,627		4,635
Commercial loans:
Commercial real estate	1,436		3,353		4,789		481,772		486,561
Construction and development	371		1,296		1,667		85,173		86,840
Commercial and industrial	216		2,819		3,035		70,254		73,289
Municipal leases	—		—		—		103,183		103,183
Total loans	$	6,043	$	13,444	$	19,487	$	1,812,972	$	1,832,459

Schedule of Past Due Loans Still Accruing and Nonaccruing Interest

The Company's recorded investment in loans, by segment and class, that are not accruing interest or are 90 days or more past due and still accruing interest at the dates indicated follow:



	December 31, 2016				June 30, 2016
	Nonaccruing		90 Days + & still accruing		Nonaccruing		90 Days + & still accruing
Retail consumer loans:
One-to-four family	$	7,361	$	—	$	9,192	$	—
HELOCs - originated	654		—		1,026		—
Construction and land/lots	173		—		188		—
Indirect auto finance	176		—		20		—
Consumer	31		—		15		—
Commercial loans:
Commercial real estate	3,374		—		3,222		—
Construction and development	1,759		—		1,417		—
Commercial and industrial	2,070		—		3,019		—
Municipal leases	408		—		419		—
Total loans	$	16,006	$	—	$	18,518	$	—

Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans

The Company's loans that were performing under the payment terms of TDRs that were excluded from nonaccruing loans above at the dates indicated follow:



	December 31, 2016		June 30, 2016
Performing TDRs included in impaired loans	$	27,448	$	28,263

Allowance for Credit Losses on Financing Receivables

An analysis of the allowance for loan losses by segment for the periods shown is as follows:



	Three Months Ended December 31, 2016												Three Months Ended December 31, 2015
	PCI			Retail Consumer			Commercial			Total			PCI		Retail Consumer			Commercial			Total
Balance at beginning of period	$	356		$	10,446		$	10,149		$	20,951		$	328	$	12,426		$	9,358		$	22,112
Provision for (recovery of) loan losses	(20		)	(609		)	629			—			27		(553		)	526			—
Charge-offs	—			(155		)	(67		)	(222		)	—		(306		)	(543		)	(849		)
Recoveries	—			131			126			257			—		503			211			714
Balance at end of period	$	336		$	9,813		$	10,837		$	20,986		$	355	$	12,070		$	9,552		$	21,977



	Six Months Ended December 31, 2016												Six Months Ended December 31, 2015
	PCI			Retail Consumer			Commercial			Total			PCI			Retail Consumer			Commercial			Total
Balance at beginning of period	$	361		$	11,549		$	9,382		$	21,292		$	401		$	12,575		$	9,398		$	22,374
Provision for (recovery of) loan losses	(25		)	(1,505		)	1,530			—			(46		)	(480		)	526			—
Charge-offs	—			(574		)	(675		)	(1,249		)	—			(775		)	(877		)	(1,652		)
Recoveries	—			343			600			943			—			750			505			1,255
Balance at end of period	$	336		$	9,813		$	10,837		$	20,986		$	355		$	12,070		$	9,552		$	21,977

Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class

The Company's ending balances of loans and the related allowance, by segment and class, at the dates indicated follows:



	Allowance for Loan Losses								Total Loans Receivable
	PCI		Loans individually evaluated for impairment		Loans collectively evaluated		Total		PCI		Loans individually evaluated for impairment		Loans collectively evaluated		Total
December 31, 2016
Retail consumer loans:
One-to-four family	$	16	$	343	$	5,097	$	5,456	$	5,184	$	10,980	$	591,954	$	608,118
HELOCs - originated	—		9		1,714		1,723		283		14		156,318		156,615
HELOCs - purchased	—		—		694		694		—		—		173,511		173,511
Construction and land/lots	—		—		959		959		536		659		41,433		42,628
Indirect auto finance	—		—		942		942		—		31		129,101		129,132
Consumer	—		10		45		55		6		10		5,836		5,852
Commercial loans:
Commercial real estate	290		135		6,471		6,896		16,521		5,928		508,872		531,321
Construction and development	12		—		2,629		2,641		2,781		2,083		124,506		129,370
Commercial and industrial	18		3		949		970		3,118		2,726		71,508		77,352
Municipal leases	—		—		650		650		—		294		101,436		101,730
Total	$	336	$	500	$	20,150	$	20,986	$	28,429	$	22,725	$	1,904,475	$	1,955,629
June 30, 2016
Retail consumer loans:
One-to-four family	$	23	$	187	$	6,385	$	6,595	$	7,038	$	12,411	$	604,252	$	623,701
HELOCs - originated	—		288		1,709		1,997		278		1,145		161,870		163,293
HELOCs - purchased	—		—		558		558		—		—		144,377		144,377
Construction and land/lots	—		198		1,146		1,344		574		392		37,136		38,102
Indirect auto finance	—		—		1,016		1,016		—		—		108,478		108,478
Consumer	—		10		51		61		9		—		4,626		4,635
Commercial loans:
Commercial real estate	288		—		6,142		6,430		21,323		5,376		459,862		486,561
Construction and development	17		—		1,891		1,908		3,147		1,789		81,904		86,840
Commercial and industrial	33		3		685		721		3,595		2,927		66,767		73,289
Municipal leases	—		—		662		662		—		305		102,878		103,183
Total	$	361	$	686	$	20,245	$	21,292	$	35,964	$	24,345	$	1,772,150	$	1,832,459

Schedule of Impaired Loans and Related Allowance by Segment and Class

The Company's impaired loans and the related allowance, by segment and class, at the dates indicated follows:



	Total Impaired Loans
	Unpaid Principal Balance		Recorded Investment With a Recorded Allowance		Recorded Investment With No Recorded Allowance		Total		Related Recorded Allowance
December 31, 2016
Retail consumer loans:
One-to-four family	$	29,018	$	17,836	$	7,904	$	25,740	$	841
HELOCs - originated	3,504		1,986		311		2,297		42
Construction and land/lots	3,128		1,076		765		1,841		66
Indirect auto finance	196		145		31		176		2
Consumer	568		14		23		37		10
Commercial loans:
Commercial real estate	8,576		4,086		3,638		7,724		152
Construction and development	3,847		1,089		1,759		2,848		13
Commercial and industrial	8,619		710		2,419		3,129		13
Municipal leases	408		114		294		408		1
Total impaired loans	$	57,864	$	27,056	$	17,144	$	44,200	$	1,140
June 30, 2016
Retail consumer loans:
One-to-four family	$	29,053	$	12,348	$	13,375	$	25,723	$	281
HELOCs - originated	4,486		1,999		1,178		3,177		305
Construction and land/lots	2,890		764		693		1,457		209
Indirect auto finance	45		20		—		20		—
Consumer	514		9		13		22		10
Commercial loans:
Commercial real estate	7,433		857		5,776		6,633		13
Construction and development	3,556		600		1,929		2,529		14
Commercial and industrial	9,710		1,197		2,930		4,127		17
Municipal leases	419		114		305		419		1
Total impaired loans	$	58,106	$	17,908	$	26,199	$	44,107	$	850

Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized

The Company's average recorded investment in impaired loans and interest income recognized on impaired loans for the three and six months ended December 31, 2016 and 2015 was as follows:



	Three Months Ended
	December 31, 2016				December 31, 2015
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Retail consumer loans:
One-to-four family	$	26,673	$	283	$	29,765	$	382
HELOCs - originated	2,544		33		3,485		50
Construction and land/lots	1,594		38		1,940		38
Indirect auto finance	134		1		7		—
Consumer	32		5		80		6
Commercial loans:
Commercial real estate	7,673		63		8,919		40
Construction and development	2,530		31		3,594		20
Commercial and industrial	3,372		22		4,019		29
Municipal leases	408		—		428		14
Total loans	$	44,960	$	476	$	52,237	$	579



	Six Months Ended
	December 31, 2016				December 31, 2015
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Retail consumer loans:
One-to-four family	$	26,356	$	585	$	29,869	$	782
HELOCs - originated	2,755		65		3,942		100
Construction and land/lots	1,548		75		2,033		67
Indirect auto finance	96		3		3		—
Consumer	29		10		66		15
Commercial loans:
Commercial real estate	7,326		130		12,121		73
Construction and development	2,530		49		4,947		40
Commercial and industrial	3,624		58		3,463		61
Municipal leases	412		12		413		24
Total loans	$	44,676	$	987	$	56,857	$	1,162

Impaired Financing Receivable

A summary of changes in the accretable yield for PCI loans for the three and six months ended December 31, 2016 and 2015 was as follows:



	Three Months Ended
	December 31, 2016			December 31, 2015
Accretable yield, beginning of period	$	8,339		$	9,763
Reclass from nonaccretable yield ⁽¹⁾	185			236
Other changes, net ⁽²⁾	(282		)	1,191
Interest income	(723		)	(1,226		)
Accretable yield, end of period	$	7,519		$	9,964



	Six Months Ended
	December 31, 2016			December 31, 2015
Accretable yield, beginning of period	$	9,532		$	11,096
Reclass from nonaccretable yield ⁽¹⁾	1,072			602
Other changes, net ⁽²⁾	(741		)	1,080
Interest income	(2,344		)	(2,814		)
Accretable yield, end of period	$	7,519		$	9,964

______________________________________


(1)	Represents changes attributable to expected losses assumptions.


(2)	Represents changes in cash flows expected to be collected due to the impact of modifications, changes in prepayment assumptions, and changes in interest rates.

Troubled Debt Restructurings on Financing Receivables

For the three and six months ended December 31, 2016 and 2015, the following table presents a breakdown of the types of concessions made on TDRs by loan class:



	Three Months Ended December 31, 2016					Three Months Ended December 31, 2015
	Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment		Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment
Below market interest rate:
Retail consumer:
One-to-four family	—	$	—	$	—	2	$	108	$	110
Total	—	$	—	$	—	2	$	108	$	110
Extended term:
Retail consumer:
One-to-four family	1	$	20	$	20	4	$	92	$	101
Construction and land/lots	1	280		280		—	—		—
Total	2	$	300	$	300	4	$	92	$	101
Other TDRs:
Retail consumer:
One-to-four family	5	$	168	$	171	10	$	1,430	$	1,420
Construction and land/lots	2	254		251		—	—		—
Commercial:
Commercial real estate	—	—		—		1	457		447
Construction and development	—	—		—		1	250		253
Commercial & Industrial	1	24		24		2	1,347		1,351
Total	8	$	446	$	446	14	$	3,484	$	3,471
Total	10	$	746	$	746	20	$	3,684	$	3,682



	Six Months Ended December 31, 2016					Six Months Ended December 31, 2015
	Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment		Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment
Below market interest rate:
Retail consumer:
One-to-four family	—	$	—	$	—	2	$	108	$	110
Total	—	$	—	$	—	2	$	108	$	110
Extended term:
Retail consumer:
One-to-four family	3	$	139	$	137	4	$	92	$	101
HELOCs - originated	—	—		—		1	14		13
Construction and land/lots	1	280		280
Total	4	$	419	$	417	5	$	106	$	114
Other TDRs:
Retail consumer:
One-to-four family	8	$	273	$	275	16	$	2,167	$	1,969
HELOCs - originated	1	3		3		—	—		—
Construction and land/lots	2	254		251		—	—		—
Commercial:
Commercial real estate	—	—		—		1	457		447
Construction and development	—	—		—		1	250		253
Commercial and industrial	1	24		24		2	1,347		1,351
Total	12	$	554	$	553	20	$	4,221	$	4,020
Total	16	$	973	$	970	27	$	4,435	$	4,244

Schedule of Trouble Debt Restructurings With Payment Default

The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the three and six months ended December 31, 2016 and 2015:




	Three Months Ended December 31, 2016			Three Months Ended December 31, 2015
	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Below market interest rate:
Retail consumer:
One-to-four family	—	$	—	1	$	6
Total	—	$	—	1	$	6
Extended payment terms:
Retail consumer:
One-to-four family	—	$	—	1	$	31
Total	—	$	—	1	$	31
Other TDRs:
Retail consumer:
One-to-four family	—	$	—	3	$	330
HELOCs - originated	—	—		2	16
Consumer	—	—		1	1
Commercial:
Commercial and industrial	4	1,277		—	—
Total	4	$	1,277	6	$	347
Total	4	$	1,277	8	$	384



	Six Months Ended December 31, 2016			Six Months Ended December 31, 2015
	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Below market interest rate:
Retail consumer:
One-to-four family	—	$	—	1	$	6
Total	—	$	—	1	$	6
Extended payment terms:
Retail consumer:
One-to-four family	—	$	—	1	$	31
Total	—	$	—	1	$	31
Other TDRs:
Retail consumer:
One-to-four family	—	$	—	3	$	330
HELOCs - originated	—	—		2	16
Consumer	—	—		1	1
Commercial:
Commercial and industrial	4	1,277		—	—
Total	4	$	1,277	6	$	347
Total	4	$	1,277	8	$	384