Loans (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans consist of the following at the dates indicated:



	June 30, 2019			June 30, 2018
Retail consumer loans:
One-to-four family	$	660,591		$	664,289
HELOCs - originated	131,095			137,564
HELOCs - purchased	116,972			166,276
Construction and land/lots	80,602			65,601
Indirect auto finance	153,448			173,095
Consumer	19,756			12,379
Total retail consumer loans	1,162,464			1,219,204
Commercial loans:
Commercial real estate	927,261			857,315
Construction and development	210,916			192,102
Commercial and industrial	160,471			135,336
Equipment finance	132,058			13,487
Municipal leases	112,016			109,172
Total commercial loans	1,542,722			1,307,412
Total loans	2,705,186			2,526,616
Deferred loan costs (fees), net	4			(764		)
Total loans, net of deferred loan fees	2,705,190			2,525,852
Allowance for loan and lease losses	(21,429		)	(21,060		)
Net loans	$	2,683,761		$	2,504,792

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 follows:



	Pass		Special Mention		Substandard		Doubtful		Loss		Total
June 30, 2019
Retail consumer loans:
One-to-four family	$	644,159	$	2,089	$	8,072	$	384	$	19	$	654,723
HELOCs - originated	129,775		111		976		—		8		130,870
HELOCs - purchased	116,306		—		666		—		—		116,972
Construction and land/lots	79,995		71		164		—		—		80,230
Indirect auto finance	152,393		13		1,042				—		153,448
Consumer	18,601		656		491		3		5		19,756
Commercial loans:
Commercial real estate	901,214		8,066		10,306		—		—		919,586
Construction and development	207,827		790		1,357		1		—		209,975
Commercial and industrial	157,325		877		600		—		—		158,802
Equipment finance	131,674		—		384		—		—		132,058
Municipal leases	111,721		295		—		—		—		112,016
Total loans	$	2,650,990	$	12,968	$	24,058	$	388	$	32	$	2,688,436



	Pass		Special Mention		Substandard		Doubtful		Loss		Total
June 30, 2018
Retail consumer loans:
One-to-four family	$	643,077	$	3,576	$	10,059	$	746	$	14	$	657,472
HELOCs - originated	135,336		113		1,735		150		6		137,340
HELOCs - purchased	166,089		—		187		—		—		166,276
Construction and land/lots	64,823		23		257		54		—		65,157
Indirect auto finance	172,675		—		420		—		—		173,095
Consumer	11,723		85		558		2		11		12,379
Commercial loans:
Commercial real estate	835,485		5,804		6,787		—		—		848,076
Construction and development	187,187		621		2,067		—		—		189,875
Commercial and industrial	131,690		1,279		414		—		—		133,383
Equipment finance	13,487		—		—		—		—		13,487
Municipal leases	108,864		308		—		—		—		109,172
Total loans	$	2,470,436	$	11,809	$	22,484	$	952	$	31	$	2,505,712

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



	Pass		Special Mention		Substandard		Doubtful		Loss		Total
June 30, 2019
Retail consumer loans:
One-to-four family	$	4,124	$	248	$	1,496	$	—	$	—	$	5,868
HELOCs - originated	225		—		—		—		—		225
Construction and land/lots	142		—		230		—		—		372
Commercial loans:
Commercial real estate	4,503		1,903		1,300		—		—		7,706
Construction and development	453		—		488		—		—		941
Commercial and industrial	1,666		—		—		—		3		1,669
Total loans	$	11,113	$	2,151	$	3,514	$	—	$	3	$	16,781



	Pass		Special Mention		Substandard		Doubtful		Loss		Total
June 30, 2018
Retail consumer loans:
One-to-four family	$	4,620	$	388	$	1,809	$	—	$	—	$	6,817
HELOCs - originated	224		—		—		—		—		224
Construction and land/lots	444		—		—		—		—		444
Commercial loans:
Commercial real estate	4,718		2,162		2,359		—		—		9,239
Construction and development	547		—		1,680		—		—		2,227
Commercial and industrial	1,894		—		59		—		—		1,953
Total loans	$	12,447	$	2,550	$	5,907	$	—	$	—	$	20,904

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
June 30, 2019
Retail consumer loans:
One-to-four family	$	1,615	$	1,389	$	3,004	$	657,587	$	660,591
HELOCs - originated	226		208		434		130,661		131,095
HELOCs - purchased	—		485		485		116,487		116,972
Construction and land/lots	138		6		144		80,458		80,602
Indirect auto finance	459		237		696		152,752		153,448
Consumer	6		31		37		19,719		19,756
Commercial loans:
Commercial real estate	2,279		516		2,795		924,466		927,261
Construction and development	—		1,133		1,133		209,783		210,916
Commercial and industrial	207		99		306		160,165		160,471
Equipment finance	649		384		1,033		131,025		132,058
Municipal leases	—		—		—		112,016		112,016
Total loans	$	5,579	$	4,488	$	10,067	$	2,695,119	$	2,705,186



	Past Due								Total
	30-89 Days		90 Days+		Total		Current		Loans
June 30, 2018
Retail consumer loans:
One-to-four family	$	3,001	$	1,756	$	4,757	$	659,532	$	664,289
HELOCs - originated	98		268		366		137,198		137,564
HELOCs - purchased	—		—		—		166,276		166,276
Construction and land/lots	44		54		98		65,503		65,601
Indirect auto finance	335		127		462		172,633		173,095
Consumer	238		39		277		12,102		12,379
Commercial loans:
Commercial real estate	169		1,412		1,581		855,734		857,315
Construction and development	260		1,928		2,188		189,914		192,102
Commercial and industrial	15		69		84		135,252		135,336
Equipment finance	—		—		—		13,487		13,487
Municipal leases	—		—		—		109,172		109,172
Total loans	$	4,160	$	5,653	$	9,813	$	2,516,803	$	2,526,616

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:



	June 30, 2019				June 30, 2018
	Nonaccruing		90 Days + & still accruing		Nonaccruing		90 Days + & still accruing
Retail consumer loans:
One-to-four family	$	3,223	$	—	$	4,308	$	—
HELOCs - originated	348		—		656		—
HELOCs - purchased	666		—		187		—
Construction and land/lots	6		—		165		—
Indirect auto finance	463		—		255		—
Consumer	45		—		321		—
Commercial loans:
Commercial real estate	3,559		—		2,863		—
Construction and development	1,357		—		2,045		—
Commercial and industrial	307		—		114		—
Equipment finance	384		—		—		—
Municipal leases	—		—		—		—
Total loans	$	10,358	$	—	$	10,914	$	—

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 follows:



	June 30, 2019		June 30, 2018
Performing TDRs	$	23,116	$	21,251

Allowance for Credit Losses on Financing Receivables

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



	June 30, 2019
	PCI			Retail Consumer			Commercial			Total
Balance at beginning of period	$	483		$	7,527		$	13,050		$	21,060
Provision for (recovery of) loan losses	(282		)	(1,244		)	7,226			5,700
Charge-offs	—			(1,136		)	(6,273		)	(7,409		)
Recoveries	—			1,272			806			2,078
Balance at end of period	$	201		$	6,419		$	14,809		$	21,429



	June 30, 2018
	PCI			Retail Consumer			Commercial			Total
Balance at beginning of period	$	727		$	8,585		$	11,839		$	21,151
Provision for (recovery of) loan losses	228			(906		)	678			—
Charge-offs	(472		)	(1,142		)	(1,033		)	(2,647		)
Recoveries	—			990			1,566			2,556
Balance at end of period	$	483		$	7,527		$	13,050		$	21,060



	June 30, 2017
	PCI		Retail Consumer			Commercial			Total
Balance at beginning of period	$	361	$	11,549		$	9,382		$	21,292
Provision for (recovery of) loan losses	366		(2,829		)	2,463			—
Charge-offs	—		(1,219		)	(1,331		)	(2,550		)
Recoveries	—		1,084			1,325			2,409
Balance at end of period	$	727	$	8,585		$	11,839		$	21,151

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
June 30, 2019
Retail consumer loans:
One-to-four family	$	62	$	74	$	2,375	$	2,511	$	5,868	$	5,318	$	649,405	$	660,591
HELOCs - originated	—		7		1,023		1,030		225		7		130,863		131,095
HELOCs - purchased	—		—		518		518		—		—		116,972		116,972
Construction and land/lots	—		—		1,265		1,265		372		323		79,907		80,602
Indirect auto finance	—		—		927		927		—		—		153,448		153,448
Consumer	—		4		226		230		—		4		19,752		19,756
Commercial loans:
Commercial real estate	118		28		7,890		8,036		7,706		8,692		910,863		927,261
Construction and development	4		5		3,187		3,196		941		1,397		208,578		210,916
Commercial and industrial	17		2		1,957		1,976		1,669		2		158,800		160,471
Equipment finance	—		—		1,305		1,305		—		—		132,058		132,058
Municipal leases	—		—		435		435		—		—		112,016		112,016
Total	$	201	$	120	$	21,108	$	21,429	$	16,781	$	15,743	$	2,672,662	$	2,705,186
June 30, 2018
Retail consumer loans:
One-to-four family	$	98	$	125	$	3,137	$	3,360	$	6,817	$	7,104	$	650,368	$	664,289
HELOCs - originated	—		6		1,117		1,123		224		452		136,888		137,564
HELOCs - purchased	—		—		795		795		—		—		166,276		166,276
Construction and land/lots	—		19		1,134		1,153		444		583		64,574		65,601
Indirect auto finance	—		—		1,126		1,126		—		—		173,095		173,095
Consumer	—		11		57		68		—		11		12,368		12,379
Commercial loans:
Commercial real estate	138		28		8,029		8,195		9,239		3,511		844,565		857,315
Construction and development	229		8		3,109		3,346		2,227		2,223		187,652		192,102
Commercial and industrial	18		—		1,458		1,476		1,953		—		133,383		135,336
Equipment finance	—		—		—		—		—		—		13,487		13,487
Municipal leases	—		—		418		418		—		—		109,172		109,172
Total	$	483	$	197	$	20,380	$	21,060	$	20,904	$	13,884	$	2,491,828	$	2,526,616

Schedule of Impaired Loans and Related Allowance by Segment and Class

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



	Total Impaired Loans
	Unpaid Principal Balance		Recorded Investment						Related Recorded Allowance
	Unpaid Principal Balance		With a Recorded Allowance		With No Recorded Allowance		Total		Related Recorded Allowance
June 30, 2019
Retail consumer loans:
One-to-four family	$	18,302	$	12,461	$	3,152	$	15,613	$	472
HELOCs - originated	1,262		564		130		694		9
HELOCs - purchased	666		—		666		666		—
Construction and land/lots	1,917		957		323		1,280		26
Indirect auto finance	601		353		137		490		2
Consumer	1,527		7		1,130		1,137		43
Commercial loans:
Commercial real estate	10,127		6,434		3,404		9,838		36
Construction and development	2,574		940		791		1,731		7
Commercial and industrial	10,173		354		768		1,122		6
Equipment finance	462		—		384		384		—
Total impaired loans	$	47,611	$	22,070	$	10,885	$	32,955	$	601
June 30, 2018
Retail consumer loans:
One-to-four family	$	23,295	$	16,035	$	4,140	$	20,175	$	554
HELOCs - originated	2,544		1,017		737		1,754		9
HELOCs - purchased	187		—		187		187		—
Construction and land/lots	2,348		1,098		446		1,544		53
Indirect auto finance	395		122		133		255		1
Consumer	501		12		46		58		11
Commercial loans:
Commercial real estate	5,343		2,862		2,246		5,108		42
Construction and development	3,166		828		1,217		2,045		14
Commercial and industrial	4,898		235		—		235		3
Total impaired loans	$	42,677	$	22,209	$	9,152	$	31,361	$	687

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

The Company’s average recorded investment and interest income recognized on impaired loans as of the dates indicated follows:



	Year Ended
	June 30, 2019				June 30, 2018				June 30, 2017
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Retail consumer loans:
One-to-four family	$	17,319	$	950	$	23,257	$	1,170	$	25,256	$	1,147
HELOCs - originated	1,005		63		2,304		104		2,548		152
HELOCs - purchased	320		13		189		15		48		12
Construction and land/lots	1,441		94		1,575		109		1,734		139
Indirect auto finance	373		29		256		23		106		2
Consumer	1,328		67		43		17		35		20
Commercial loans:
Commercial real estate	5,026		466		6,496		209		7,771		272
Construction and development	1,779		65		2,703		56		2,450		58
Commercial and industrial	315		249		1,205		60		2,737		125
Equipment finance	192		37		—		—		—		—
Municipal leases	—		—		75		—		406		18
Total loans	$	29,098	$	2,033	$	38,103	$	1,763	$	43,091	$	1,945

Impaired Financing Receivable

A summary of changes in the accretable yield for PCI loans for the periods indicated follows:



	Year Ended June 30, 2019			Year Ended June 30, 2018
Accretable yield, beginning of period	$	5,734		$	7,080
Reclass from nonaccretable yield ⁽¹⁾	576			513
Other changes, net ⁽²⁾	1,018			393
Interest income	(2,069		)	(2,252		)
Accretable yield, end of period	$	5,259		$	5,734

______________________________


(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.

Impaired Financing Receivables

The following table presents carrying values and unpaid principal balances for PCI loans at the dates indicated below:



	June 30, 2019		June 30, 2018
Carrying value of PCI loans	$	16,750	$	20,904
Unpaid principal balance of PCI loans	$	20,141	$	25,746

Troubled Debt Restructurings on Financing Receivables

The following table presents a breakdown of the types of concessions made on TDRs by loan class for the periods indicated below:



	Year Ended June 30, 2019					Year Ended June 30, 2018					Year Ended June 30, 2017
	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		Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment
Below market interest rate:
Retail consumer:
One-to-four family	1	$	85	$	84	—	$	—	$	—	3	$	288	$	285
Construction and land/lots	—	—		—		—	—		—		2	80		79
Commercial:
Total	1	$	85	$	84	—	$	—	$	—	5	$	368	$	364
Extended payment terms:
Retail consumer:
One-to-four family	1	$	34	$	34	4	$	514	$	502	5	$	186	$	179
HELOCs - originated	—	—		—		—	—		—		1	37		37
Construction and land/lots	—	—		—		1	36		32		1	280		264
Consumer	2	34		33		—	—		—		2	11		11
Commercial:
Construction and development	—	—		—		—	—		—		1	439		439
Commercial and industrial	—	—		—		—	—		$	—	2	52		$	50
Total	3	$	68	$	67	5	$	550	$	534	12	$	1,005	$	980
Other TDRs:
Retail consumer:
One-to-four family	18	$	1,452	$	1,433	25	$	3,646	$	3,747	13	$	525	$	517
HELOCs - originated	—	—		—		—	—		—		2	33		31
Construction and land/lots	1	29		28		—	—		—		4	404		318
Indirect auto finance	1	33		26		—	—		—		—	—		—
Consumer	1	2		2		1	2		2		—	—		—
Commercial:
Commercial real estate	3	5,440		5,427		—	—		—		3	2,349		2,035
Construction and development	1	182		182		—	—		—		—	—		—
Commercial and industrial	—	—		—		—	—		—		2	231		227
Total	25	$	7,138	$	7,098	26	$	3,648	$	3,749	24	$	3,542	$	3,128
Total	29	$	7,291	$	7,249	31	$	4,198	$	4,283	41	$	4,915	$	4,472

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 periods indicated below:



	Year Ended June 30, 2019			Year Ended June 30, 2018			Year Ended June 30, 2017
	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Other TDRs:
Retail consumer:
One-to-four family	1	$	72	5	$	277	2	$	27
Construction and land/lots	—	—		—	—		1	19
Consumer	1	2		—	—		—	—
Total Other TDRs	2	$	74	5	$	277	3	$	46
Total	2	$	74	5	$	277	3	$	46