Loans (Tables)

12 Months Ended

Dec. 31, 2012

Loans [Abstract]

Schedule of portfolio of loans

	December 31,			December 31,
	2012			2011
	(Dollars in thousands)
Real Estate:
One-to four-family residential	$	577,249		$	667,375
Multi-family residential		80,923			120,991
Nonresidential		138,188			276,198
Land		15,808			23,222
Construction:
One-to four-family residential and land development		28,318			59,339
Multi-family and nonresidential		4,534			4,528
Total real estate		845,020			1,151,653
Consumer
Home equity		177,230			191,827
Auto		7,648			8,933
Marine		4,942			5,900
Recreational vehicles		22,250			28,530
Other		2,523			3,207
Total consumer		214,593			238,397
Commercial
Secured		24,243			25,120
Unsecured		2,300			5,026
Total commercial		26,543			30,146
Total loans		1,086,156			1,420,196
Less:
Allowance for loan losses		21,130			42,271
Deferred loan costs, net		(1,214	)		(1,351	)
Total		19,916			40,920
Loans, net	$	1,066,240		$	1,379,276

Number of outstanding commitments to extend credit

	December 31,
	2012				2011
	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
	(Dollars in thousands)
Commitments to make loans	$	73,125	$	21,001	$	45,603	$	3,446
Undisbursed loans in process		731		23,502		875		22,463
Unused lines of credit		27,832		76,558		43,735		68,688

Investment in loans by portfolio segment and based on impairment

Allowance For Loan Losses

(Dollars in thousands)

	Permanent Real Estate Loans			Construction Loans			Consumer Loans			Commercial Loans			Total
2012
Beginning balance	$	31,323		$	4,493		$	4,576		$	1,879		$	42,271
Provision		34,260			2,310			2,721			34			39,325
Chargeoffs		(16,790	)		(3,480	)		(2,740	)		(1,258	)		(24,268	)
Recoveries		770			215			724			251			1,960
Net (chargeoffs) recovery from asset sale		(35,744	)		(2,134	)		(822	)		542			(38,158	)
Net chargeoffs		(51,764	)		(5,399	)		(2,838	)		(465	)		(60,466	)
Ending balance	$	13,819		$	1,404		$	4,459		$	1,448		$	21,130
Period-end amount allocated to:
Loans individually evaluated for impairment	$	2,380		$	478		$	—		$	166		$	3,024
Loans collectively evaluated for impairment		11,439			926			4,459			1,282			18,106
Ending balance	$	13,819		$	1,404		$	4,459		$	1,448		$	21,130
Period-end balances:
Loans individually evaluated for impairment	$	43,013		$	7,547		$	8,784		$	1,673		$	61,017
Loans collectively evaluated for impairment		769,155			25,305			205,809			24,870			1,025,139
Ending balance	$	812,168		$	32,852		$	214,593		$	26,543		$	1,086,156

	Permanent Real Estate Loans			Construction Loans			Consumer Loans			Commercial Loans			Total
2011
Beginning balance	$	28,066		$	8,533		$	5,260		$	9,024		$	50,883
Provision		17,073			8,126			2,171			(2,712	)		24,658
Chargeoffs		(14,734	)		(12,504	)		(3,446	)		(5,055	)		(35,739	)
Recoveries		918			338			591			622			2,469
Net chargeoffs		(13,816	)		(12,166	)		(2,855	)		(4,433	)		(33,270	)
Ending balance	$	31,323		$	4,493		$	4,576		$	1,879		$	42,271
Period-end amount allocated to:
Loans individually evaluated for impairment	$	8,275		$	3,102		$	236		$	210		$	11,823
Loans collectively evaluated for impairment		23,048			1,391			4,340			1,669			30,448
Ending balance	$	31,323		$	4,493		$	4,576		$	1,879		$	42,271
Period-end balances:
Loans individually evaluated for impairment	$	115,290		$	30,587		$	3,734		$	3,956		$	153,567
Loans collectively evaluated for impairment		972,496			33,280			234,663			26,190			1,266,629
Ending balance	$	1,087,786		$	63,867		$	238,397		$	30,146		$	1,420,196

Activity in the allowance for loan losses

	2010
Beginning balance	$	42,287
Provision for loan losses		62,427
Loans charged-off		(55,079	)
Recoveries		1,248
Ending Balance	$	50,883

Impaired financing receivables by class of loans

Impaired Loans

(Dollars in thousands)

	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no specific allowance recorded
Permanent real estate
One-to four-family residential	$	18,672	$	16,947	$	—	$	22,526	$	613	$	715
Multifamily residential		1,173		1,078		—		2,581		36		63
Nonresidential		13,240		12,638		—		19,425		21		68
Land		4,577		3,804		—		4,918		—		—
Total		37,662		34,467		—		49,450		670		846
Construction loans
One-to four-family residential		17,912		3,580		—		6,051		—		14
Multifamily and nonresidential		571		—		—		—		—		—
Total		18,483		3,580		—		6,051		—		14
Consumer loans
Home Equity		8,867		7,958		—		5,571		265		326
Auto		68		44		—		52		1		6
Marine		190		190		—		268		—		13
Recreational vehicle		887		592		—		659		—		35
Other		—		—		—		5		—		—
Total		10,012		8,784		—		6,555		266		380
Commercial loans
Secured		2,122		1,212		—		1,480		—		124
Unsecured		2,861		38		—		261		2		11
Total		4,983		1,250		—		1,741		2		135
Total	$	71,140	$	48,081	$	—	$	63,797	$	938	$	1,375

	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With a specific allowance recorded
Permanent real estate
One-to four-family residential	$	735	$	735	$	260	$	1,242	$	—	$	—
Multifamily residential		996		981		57		2,390		—		17
Nonresidential		5,218		4,703		1,336		17,420		19		57
Land		3,913		2,127		727		2,603		—		—
Total		10,862		8,546		2,380		23,655		19		74
Construction loans
One-to four-family residential		6,455		3,967		478		9,511		—		2
Multifamily and nonresidential		—		—		—		—		—		—
Total		6,455		3,967		478		9,511		—		2
Consumer loans
Home Equity		—		—		—		—		—		—
Auto		—		—		—		—		—		—
Marine		—		—		—		—		—		—
Recreational vehicle		—		—		—		27		—		—
Other		—		—		—		—		—		—
Total		—		—		—		27		—		—
Commercial loans
Secured		798		423		166		487		—		3
Unsecured		—		—		—		—		—		—
Total		798		423		166		487		—		3
Total	$	18,115	$	12,936	$	3,024	$	33,680	$	19	$	79
Total	$	89,255	$	61,017	$	3,024	$	97,477	$	957	$	1,454

Impaired Loans

(Dollars in thousands)

	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no specific allowance recorded
Permanent real estate
One-to four-family residential	$	32,372	$	28,566	$	—	$	26,016	$	557	$	868
Multifamily residential		5,112		4,205		—		3,798		—		218
Nonresidential		29,120		28,327		—		26,911		391		1,006
Land		9,213		7,290		—		6,739		38		198
Total		75,817		68,388		—		63,464		986		2,290
Construction loans
One-to four-family residential		19,081		12,532		—		15,300		284		441
Multifamily and nonresidential		707		—		—		96		—		—
Total		19,788		12,532		—		15,396		284		441
Consumer loans
Home Equity		4,908		3,139		—		1,620		61		124
Auto		80		59		—		68		1		5
Marine		—		—		—		—		—		—
Recreational vehicle		26		11		—		38		—		2
Other		7		7		—		7		—		—
Total		5,021		3,216		—		1,733		62		131
Commercial loans
Secured		3,875		3,084		—		1,627		35		531
Unsecured		22,716		371		—		370		7		128
Total		26,591		3,455		—		1,997		42		659
Total	$	127,217	$	87,591	$	—	$	82,590	$	1,374	$	3,521

	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With a specific allowance recorded
Permanent real estate
One-to four-family residential	$	2,487	$	1,721	$	152	$	2,993	$	—	$	35
Multifamily residential		4,077		2,387		187		3,594		10		61
Nonresidential		42,201		38,176		6,127		37,986		919		1,569
Land		5,074		4,618		1,809		3,049		—		175
Total		53,839		46,902		8,275		47,622		929		1,840
Construction loans
One-to four-family residential		35,759		18,055		3,102		24,089		47		221
Multifamily and nonresidential		—		—		—		—		—		—
Total		35,759		18,055		3,102		24,089		47		221
Consumer loans
Home Equity		—		—		—		—		—		—
Auto		—		—		—		—		—		—
Marine		482		482		218		121		—		19
Recreational vehicle		88		36		18		9		—		—
Other		—		—		—		—		—		—
Total		570		518		236		130		—		19
Commercial loans
Secured		776		427		136		6,124		5		10
Unsecured		105		74		74		1,244		—		—
Total		881		501		210		7,368		5		10
Total		91,049		65,976		11,823		79,209		981		2,090
Total	$	218,266	$	153,567	$	11,823	$	161,799	$	2,355	$	5,611

Information for impaired loans

	2010
Average of individually impaired loans during the year	$	144,977
Interest income recognized during impairment		1,778
Cash-basis interest income recognized		4,570

Presentation of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans

Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing

As of December 31, 2012

(Dollars in thousands)

	Nonaccrual		Loans past due over 90 days and still accruing
Real Estate Loans
Permanent
One-to four-family residential	$	5,437	$	—
Multifamily residential		2,027		—
Nonresidential		17,065		3,678
Land		6,047		—
Total		30,576		3,678
Construction Loans
One-to four-family residential		7,466		—
Multifamily and nonresidential		—		—
Total		7,466		—
Consumer Loans
Home Equity		3,298		—
Auto		105		—
Marine		176		—
Recreational vehicle		1,259		—
Other		4		—
Total		4,842		—
Commercial Loans
Secured		1,194		—
Unsecured		31		—
Total		1,225		—
Total	$	44,109	$	3,678

Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing

As of December 31, 2011

(Dollars in thousands)

	Nonaccrual		Loans past due over 90 days and still accruing
Real Estate Loans
Permanent
One-to four-family residential	$	26,637	$	—
Multifamily residential		5,860		—
Nonresidential		42,902		—
Land		11,142		—
Total		86,541		—
Construction Loans
One-to four-family residential		27,104		—
Multifamily and nonresidential		—		—
Total		27,104		—
Consumer Loans
Home Equity		4,198		39
Auto		170		—
Marine		479		—
Recreational vehicle		1,725		—
Other		9		—
Total		6,581		39
Commercial Loans
Secured		2,483		—
Unsecured		347		—
Total		2,830		—
Total	$	123,056	$	39

Presentation of an age analysis of past-due loans, segregated by class of loans

Past Due Loans

(Dollars in thousands)

	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current Loans		Total Loans
Real Estate Loans
Permanent
One-to four-family residential	$	1,995	$	784	$	4,495	$	7,274	$	569,975	$	577,249
Multifamily residential		158		—		1,630		1,788		79,135		80,923
Nonresidential		—		176		19,942		20,118		118,070		138,188
Land		83		—		6,044		6,127		9,681		15,808
Total		2,236		960		32,111		35,307		776,861		812,168
Construction Loans
One-to four-family residential		54		—		7,398		7,452		20,866		28,318
Multifamily and nonresidential		—		—		—		—		4,534		4,534
Total		54		—		7,398		7,452		25,400		32,852
Consumer Loans
Home Equity		1,135		475		2,071		3,681		173,549		177,230
Auto		35		7		83		125		7,523		7,648
Marine		—		—		8		8		4,934		4,942
Recreational vehicle		447		32		353		832		21,418		22,250
Other		—		1		3		4		2,519		2,523
Total		1,617		515		2,518		4,650		209,943		214,593
Commercial Loans
Secured		16		—		23		39		24,204		24,243
Unsecured		—		728		6		734		1,566		2,300
Total		16		728		29		773		25,770		26,543
Total	$	3,923	$	2,203	$	42,056	$	48,182	$	1,037,974	$	1,086,156

Past Due Loans

(Dollars in thousands)

	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current Loans		Total Loans
Real Estate Loans
Permanent
One-to four-family residential	$	2,878	$	1,928	$	20,124	$	24,930	$	642,445	$	667,375
Multifamily residential		1,405		—		4,564		5,969		115,022		120,991
Nonresidential		6,820		971		41,151		48,942		227,256		276,198
Land		167		530		9,705		10,402		12,820		23,222
Total		11,270		3,429		75,544		90,243		997,543		1,087,786
Construction Loans
One-to four-family residential		979		1,718		24,608		27,305		32,034		59,339
Multifamily and nonresidential		—		—		—		—		4,528		4,528
Total		979		1,718		24,608		27,305		36,562		63,867
Consumer Loans
Home Equity		1,485		601		2,749		4,835		186,992		191,827
Auto		73		13		87		173		8,760		8,933
Marine		184		—		479		663		5,237		5,900
Recreational vehicle		867		754		1,044		2,665		25,865		28,530
Other		57		1		7		65		3,142		3,207
Total		2,666		1,369		4,366		8,401		229,996		238,397
Commercial Loans
Secured		554		—		96		650		24,470		25,120
Unsecured		69		—		237		306		4,720		5,026
Total		623		—		333		956		29,190		30,146
Total	$	15,538	$	6,516	$	104,851	$	126,905	$	1,293,291	$	1,420,196

Loans by class modified as troubled debt restructurings

	Number of loans		Pre-Modification Outstanding Recorded Investment		Post-Modification Recorded Investment
			(Dollars in thousands)
Real Estate Loans
Permanent
One-to four-family		114	$	6,618	$	5,574
Multifamily residential		6		1,439		1,438
Nonresidential		1		424		424
Land		—		—		—
Total		121		8,481		7,436
Construction Loans
One-to four-family residential		3		853		830
Multifamily and nonresidential		—		—		—
Total		3		853		830
Consumer Loans
Home Equity		86		6,951		7,033
Auto		—		—		—
Marine		—		—		—
Recreational vehicle		—		—		—
Other		—		—		—
Total		86		6,951		7,033
Commercial Loans
Secured		—		—		—
Unsecured		1		446		446
Total		1		446		446
Total Restructured Loans		211	$	16,731	$	15,745

	Number of loans		Pre-Modification Outstanding Recorded Investment		Post-Modification Recorded Investment
			(Dollars in thousands)
Real Estate Loans
Permanent
One-to four-family		55	$	7,344	$	7,485
Multifamily residential		2		2,246		2,246
Nonresidential		3		1,271		1,271
Land		4		4,292		3,524
Total		64		15,153		14,526
Construction Loans
One-to four-family residential		19		4,425		3,881
Multifamily and nonresidential		—		—		—
Total		19		4,425		3,881
Consumer Loans
Home Equity		54		1,847		1,841
Auto		1		21		21
Marine		—		—		—
Recreational vehicle		—		—		—
Other		—		—		—
Total		55		1,868		1,862
Commercial Loans
Secured		3		9,104		9,098
Unsecured		—		—		—
Total		3		9,104		9,098
Total Restructured Loans		141	$	30,550	$	29,367

Loans by class modified as troubled debt restructurings with payment default

	Number of loans		Recorded Investment
			(Dollars in thousands)
Real Estate Loans
Permanent
One-to four-family		9	$	851
Multifamily residential		—		—
Nonresidential		—		—
Land		—		—
Total		9		851
Construction Loans
One-to four-family residential		—		—
Multifamily and nonresidential		—		—
Total		—		—
Consumer Loans
Home Equity		2		77
Auto		—		—
Marine		—		—
Recreational vehicle		—		—
Other		—		—
Total		2		77
Commercial Loans
Secured		—		—
Unsecured		—		—
Total		—		—
Total Restructured Loans		11	$	928

	Number of loans		Recorded Investment
			(Dollars in thousands)
Real Estate Loans
Permanent
One-to four-family		44	$	4,893
Multifamily residential		3		3,273
Nonresidential		5		7,278
Land		5		1,773
Total		57		17,217
Construction Loans
One-to four-family residential		7		799
Multifamily and nonresidential		—		—
Total		7		799
Consumer Loans
Home Equity		1		94
Auto		1		4
Marine		—		—
Recreational vehicle		—		—
Other		—		—
Total		2		98
Commercial Loans
Secured		2		2,682
Unsecured		—		—
Total		2		2,682
Total Restructured Loans		68	$	20,796

Risk category of loans by class of loans

Loans

December 31, 2012

(Dollars in thousands)

	Unclassified				Classified
	Unclassified		Special Mention		Substandard		Doubtful		Loss		Total Classified		Total Loans
Real Estate Loans
Permanent
One-to four-family residential	$	569,204	$	459	$	7,586	$	—	$	—	$	7,586	$	577,249
Multifamily Residential		69,060		8,409		3,454		—		—		3,454		80,923
Nonresidential		99,275		12,234		26,679		—		—		26,679		138,188
Land		9,596		280		5,932		—		—		5,932		15,808
Total		747,135		21,382		43,651		—		—		43,651		812,168
Construction Loans
One-to four-family Residential		20,577		196		7,545		—		—		7,545		28,318
Multifamily and Nonresidential		4,534		—		—		—		—		—		4,534
Total		25,111		196		7,545		—		—		7,545		32,852
Consumer Loans
Home Equity		173,696		82		3,534		—		—		3,534		177,230
Auto		7,453		7		113		—		—		113		7,648
Marine		4,745		—		190		—		—		190		4,942
Recreational vehicle		20,859		—		1,391		—		—		1,391		22,250
Other		2,507		—		16		—		—		16		2,523
Total		209,260		89		5,244		—		—		5,244		214,593
Commercial Loans
Secured		20,843		769		2,631		—		—		2,631		24,243
Unsecured		1,481		11		808		—		—		808		2,300
Total		22,324		780		3,439		—		—		3,439		26,543
Total	$	1,003,830	$	22,447	$	59,879	$	—	$	—	$	59,879	$	1,086,156

Loans

December 31, 2011

(Dollars in thousands)

	Unclassified				Classified
	Unclassified		Special Mention		Substandard		Doubtful		Loss		Total Classified		Total Loans
Real Estate Loans
Permanent
One-to four-family residential	$	626,072	$	4,094	$	37,209	$	—	$	—	$	37,209	$	667,375
Multifamily residential		90,820		8,392		21,779		—		—		21,779		120,991
Nonresidential		149,314		18,388		108,496		—		—		108,496		276,198
Land		10,475		1,200		11,547		—		—		11,547		23,222
Total		876,681		32,074		179,031		—		—		179,031		1,087,786
Construction Loans
One-to four-family residential		28,396		2,394		28,520		29		—		28,549		59,339
Multifamily and nonresidential		4,528		—		—		—		—		—		4,528
Total		32,924		2,394		28,520		29		—		28,549		63,867
Consumer Loans
Home Equity		187,153		269		4,405		—		—		4,405		191,827
Auto		8,738		12		183		—		—		183		8,933
Marine		5,418		—		482		—		—		482		5,900
Recreational vehicle		26,728		—		1,802		—		—		1,802		28,530
Other		3,192		—		15		—		—		15		3,207
Total		231,229		281		6,887		—		—		6,887		238,397
Commercial Loans
Secured		20,895		263		3,962		—		—		3,962		25,120
Unsecured		2,861		166		1,999		—		—		1,999		5,026
Total		23,756		429		5,961		—		—		5,961		30,146
Total	$	1,164,590	$	35,178	$	220,399	$	29	$	—	$	220,428	$	1,420,196

Loans to officers and/or directors

	(Dollars in thousands)
Balance as of December 31, 2011	$	926
New loans to officers and/or directors		492
Loan payments during 2012		(31	)
Reductions due to changes in officers and/or directors		—
Balance as of December 31, 2012	$	1,387