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CREDIT DISCLOSURES (Tables)
 3 Months Ended
Dec. 31, 2012
CREDIT DISCLOSURES [Abstract]  
Schedule of loan receivables
Loans receivable at December 31, 2012 and September 30, 2012 are as follows:
 
 
December 31, 2012
 
 
September 30, 2012
 
 
(Dollars in Thousands)
 
 
 
 
 
 
 
One to four family residential mortgage loans
 
$
55,964
 
 
$
49,134
 
Commercial and multi-family real estate loans
 
 
176,884
 
 
 
191,905
 
Agricultural real estate loans
 
 
23,446
 
 
 
19,861
 
Consumer loans
 
 
30,736
 
 
 
32,838
 
Commercial operating loans
 
 
13,569
 
 
 
16,452
 
Agricultural operating loans
 
 
20,926
 
 
 
20,981
 
Total Loans Receivable
 
 
321,525
 
 
 
331,171
 
 
 
 
 
 
 
 
 
Less:
 
 
 
 
 
 
 
 
     Allowance for loan losses
 
 
(3,963
)
 
 
(3,971
)
     Net deferred loan origination fees
 
 
(304
)
 
 
(219
)
Total Loans Receivable, Net
 
$
317,258
 
 
$
326,981
 
 
Activity in allowance for loan losses
Activity in the allowance for loan losses and balances of loans receivable by portfolio segment for the three month periods ended December 31, 2012 and 2011 is as follows:
 
 
1-4 Family Residential
 
 
Commercial and Multi-Family Real Estate
 
 
Agricultural Real Estate
 
 
Consumer
 
 
Commercial Operating
 
 
Agricultural Operating
 
 
Unallocated
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
193
 
 
$
3,113
 
 
$
1
 
 
$
3
 
 
$
49
 
 
$
-
 
 
$
612
 
 
$
3,971
 
   Provision (recovery) for loan losses
 
 
(5
)
 
 
(235
)
 
 
-
 
 
 
-
 
 
 
1
 
 
 
18
 
 
 
221
 
 
 
-
 
   Loan charge offs
 
 
-
 
 
 
(8
)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(8
)
   Recoveries
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Ending balance
 
$
188
 
 
$
2,870
 
 
$
1
 
 
$
3
 
 
$
50
 
 
$
18
 
 
$
833
 
 
$
3,963
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: individually evaluated for impairment
 
$
10
 
 
$
443
 
 
$
-
 
 
$
-
 
 
$
-
 
 
$
-
 
 
$
-
 
 
$
453
 
Ending balance: collectively evaluated for impairment
 
$
178
 
 
$
2,427
 
 
$
1
 
 
$
3
 
 
$
50
 
 
$
18
 
 
$
833
 
 
$
3,510
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: individually evaluated for impairment
 
$
351
 
 
$
8,798
 
 
$
-
 
 
$
-
 
 
$
16
 
 
$
-
 
 
$
-
 
 
$
9,165
 
Ending balance: collectively evaluated for impairment
 
$
55,613
 
 
$
168,086
 
 
$
23,446
 
 
$
30,736
 
 
$
13,553
 
 
$
20,926
 
 
$
-
 
 
$
312,360
 

 
1-4 Family Residential
 
 
Commercial and Multi-Family Real Estate
 
 
Agricultural Real Estate
 
 
Consumer
 
 
Commercial Operating
 
 
Agricultural Operating
 
 
Unallocated
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
165
 
 
$
3,901
 
 
$
-
 
 
$
16
 
 
$
36
 
 
$
67
 
 
$
741
 
 
$
4,926
 
   Provision (recovery) for loan losses
 
 
15
 
 
 
775
 
 
 
-
 
 
 
3
 
 
 
(2
)
 
 
(2
)
 
 
(90
)
 
 
699
 
   Loan charge offs
 
 
-
 
 
 
(1,067
)
 
 
-
 
 
 
(2
)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(1,069
)
   Recoveries
 
 
1
 
 
 
-
 
 
 
-
 
 
 
4
 
 
 
4
 
 
 
-
 
 
 
-
 
 
 
9
 
Ending balance
 
$
181
 
 
$
3,609
 
 
$
-
 
 
$
21
 
 
$
38
 
 
$
65
 
 
$
651
 
 
$
4,565
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: individually evaluated for impairment
 
$
11
 
 
$
1,425
 
 
$
-
 
 
$
-
 
 
$
3
 
 
$
-
 
 
$
-
 
 
$
1,439
 
Ending balance: collectively evaluated for impairment
 
$
170
 
 
$
2,184
 
 
$
-
 
 
$
21
 
 
$
35
 
 
$
65
 
 
$
651
 
 
$
3,126
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: individually evaluated for impairment
 
$
178
 
 
$
14,608
 
 
$
-
 
 
$
-
 
 
$
91
 
 
$
-
 
 
$
-
 
 
$
14,877
 
Ending balance: collectively evaluated for impairment
 
$
37,328
 
 
$
179,836
 
 
$
20,070
 
 
$
34,359
 
 
$
12,549
 
 
$
22,071
 
 
$
-
 
 
$
306,213
 
Asset classification of loans excluding loans held for sale
The asset classification of loans at December 31, 2012 and September 30, 2012 are as follows:
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1-4 Family Residential
 
 
Commercial and Multi-Family Real Estate
 
 
Agricultural Real Estate
 
 
Consumer
 
 
Commercial Operating
 
 
Agricultural Operating
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pass
 
$
55,431
 
 
$
152,721
 
 
$
23,373
 
 
$
30,736
 
 
$
13,154
 
 
$
19,126
 
 
$
294,541
 
Watch
 
 
193
 
 
 
10,097
 
 
 
73
 
 
 
-
 
 
 
-
 
 
 
1,800
 
 
 
12,163
 
Special Mention
 
 
15
 
 
 
3,809
 
 
 
-
 
 
 
-
 
 
 
399
 
 
 
-
 
 
 
4,223
 
Substandard
 
 
295
 
 
 
10,257
 
 
 
-
 
 
 
-
 
 
 
16
 
 
 
-
 
 
 
10,568
 
Doubtful
 
 
30
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
30
 
 
$
55,964
 
 
$
176,884
 
 
$
23,446
 
 
$
30,736
 
 
$
13,569
 
 
$
20,926
 
 
$
321,525
 

September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1-4 Family Residential
 
 
Commercial and Multi-Family Real Estate
 
 
Agricultural Real Estate
 
 
Consumer
 
 
Commercial Operating
 
 
Agricultural Operating
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pass
 
$
48,566
 
 
$
167,697
 
 
$
19,783
 
 
$
32,837
 
 
$
16,036
 
 
$
20,981
 
 
$
305,900
 
Watch
 
 
228
 
 
 
12,932
 
 
 
78
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
13,238
 
Special Mention
 
 
15
 
 
 
3,730
 
 
 
-
 
 
 
-
 
 
 
399
 
 
 
-
 
 
 
4,144
 
Substandard
 
 
295
 
 
 
7,546
 
 
 
-
 
 
 
1
 
 
 
17
 
 
 
-
 
 
 
7,859
 
Doubtful
 
 
30
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
30
 
 
$
49,134
 
 
$
191,905
 
 
$
19,861
 
 
$
32,838
 
 
$
16,452
 
 
$
20,981
 
 
$
331,171
 
 
Summary of past due loans
Past due loans at December 31, 2012 and September 30, 2012 are as follows:
 
December 31, 2012
 
30-59 Days Past Due
 
 
60-89 Days Past Due
 
 
Greater Than 90 Days
 
 
Total Past Due
 
 
Current
 
 
Non-Accrual Loans
 
 
Total Loans Receivable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential 1-4 Family
 
$
20
 
 
$
-
 
 
$
-
 
 
$
20
 
 
$
55,637
 
 
$
307
 
 
$
55,964
 
Commercial Real Estate and Multi-Family
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
175,463
 
 
 
1,421
 
 
 
176,884
 
Agricultural Real Estate
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
23,446
 
 
 
-
 
 
 
23,446
 
Consumer
 
 
186
 
 
 
19
 
 
 
14
 
 
 
219
 
 
 
30,517
 
 
 
-
 
 
 
30,736
 
Commercial Operating
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
13,553
 
 
 
16
 
 
 
13,569
 
Agricultural Operating
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
20,926
 
 
 
-
 
 
 
20,926
 
   Total
 
$
206
 
 
$
19
 
 
$
14
 
 
$
239
 
 
$
319,542
 
 
$
1,744
 
 
$
321,525
 
 
September 30, 2012
 
30-59 Days Past Due
 
 
60-89 Days Past Due
 
 
Greater Than 90 Days
 
 
Total Past Due
 
 
Current
 
 
Non-Accrual Loans
 
 
Total Loans Receivable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential 1-4 Family
 
$
-
 
 
$
-
 
 
$
-
 
 
$
-
 
 
$
48,827
 
 
$
307
 
 
$
49,134
 
Commercial Real Estate and Multi-Family
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
190,482
 
 
 
1,423
 
 
 
191,905
 
Agricultural Real Estate
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
19,861
 
 
 
-
 
 
 
19,861
 
Consumer
 
 
21
 
 
 
16
 
 
 
63
 
 
 
100
 
 
 
32,738
 
 
 
-
 
 
 
32,838
 
Commercial Operating
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
16,434
 
 
 
18
 
 
 
16,452
 
Agricultural Operating
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
20,981
 
 
 
-
 
 
 
20,981
 
   Total
 
$
21
 
 
$
16
 
 
$
63
 
 
$
100
 
 
$
329,323
 
 
$
1,748
 
 
$
331,171
 
 
Impaired loans
Impaired loans at December 31, 2012 and September 30, 2012 are as follows:
 
 
Recorded Balance
 
 
Unpaid Principal Balance
 
 
Specific Allowance
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans without a specific valuation allowance
 
 
 
 
 
 
 
 
 
   Residential 1-4 Family
 
$
245
 
 
$
245
 
 
$
-
 
   Commercial Real Estate and Multi-Family
 
 
3,949
 
 
 
3,949
 
 
 
-
 
   Agricultural Real Estate
 
 
-
 
 
 
-
 
 
 
-
 
   Consumer
 
 
-
 
 
 
-
 
 
 
-
 
   Commercial Operating
 
 
16
 
 
 
31
 
 
 
-
 
   Agricultural Operating
 
 
-
 
 
 
-
 
 
 
-
 
Total
 
$
4,210
 
 
$
4,225
 
 
$
-
 
Loans with a specific valuation allowance
 
 
 
 
 
 
 
 
 
 
 
 
   Residential 1-4 Family
 
$
106
 
 
$
147
 
 
$
10
 
   Commercial Real Estate and Multi-Family
 
 
4,849
 
 
 
8,741
 
 
 
443
 
   Agricultural Real Estate
 
 
-
 
 
 
-
 
 
 
-
 
   Consumer
 
 
-
 
 
 
-
 
 
 
-
 
   Commercial Operating
 
 
-
 
 
 
-
 
 
 
-
 
   Agricultural Operating
 
 
-
 
 
 
-
 
 
 
-
 
Total
 
$
4,955
 
 
$
8,888
 
 
$
453
 

 
Recorded Balance
 
 
Unpaid Principal Balance
 
 
Specific Allowance
 
September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans without a specific valuation allowance
 
 
 
 
 
 
 
 
 
   Residential 1-4 Family
 
$
-
 
 
$
-
 
 
$
-
 
   Commercial Real Estate and Multi-Family
 
 
-
 
 
 
-
 
 
 
-
 
   Agricultural Real Estate
 
 
-
 
 
 
-
 
 
 
-
 
   Consumer
 
 
-
 
 
 
-
 
 
 
-
 
   Commercial Operating
 
 
-
 
 
 
-
 
 
 
-
 
   Agricultural Operating
 
 
-
 
 
 
-
 
 
 
-
 
Total
 
$
-
 
 
$
-
 
 
$
-
 
Loans with a specific valuation allowance
 
 
 
 
 
 
 
 
 
 
 
 
   Residential 1-4 Family
 
$
352
 
 
$
393
 
 
$
16
 
   Commercial Real Estate and Multi-Family
 
 
8,815
 
 
 
12,707
 
 
 
346
 
   Agricultural Real Estate
 
 
-
 
 
 
-
 
 
 
-
 
   Consumer
 
 
1
 
 
 
1
 
 
 
-
 
   Commercial Operating
 
 
17
 
 
 
32
 
 
 
1
 
   Agricultural Operating
 
 
-
 
 
 
-
 
 
 
-
 
Total
 
$
9,185
 
 
$
13,133
 
 
$
363
 

The following table provides the average recorded investment in impaired loans for the three month periods ended December 31, 2012 and 2011.
 
 
Three Months Ended December 31,
 
 
2012
 
 
2011
 
 
Average Recorded Investment
 
 
Average Recorded Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
   Residential 1-4 Family
 
$
446
 
 
$
145
 
   Commercial Real Estate and Multi-Family
 
 
8,969
 
 
 
11,401
 
   Agricultural Real Estate
 
 
-
 
 
 
646
 
   Consumer
 
 
1
 
 
 
11
 
   Commercial Operating
 
 
34
 
 
 
78
 
   Agricultural Operating
 
 
-
 
 
 
-
 
Total
 
$
9,450
 
 
$
12,281
 
 
Troubled debt restructurings ("TDR")
The Company's troubled debt restructurings ("TDR"), typically involve forgiving a portion of interest or principal on existing loans or making loans at a rate materially less than current market rates.  Loans modified in a TDR during the three month periods ended December 31, 2012 and 2011 are as follows:
 
 
December 31, 2012
 
 
December 31, 2011
 
 
Number of Loans
 
 
Pre-Modification Outstanding Recorded Balance
 
 
Post-Modification Outstanding Recorded Balance
 
 
Number of Loans
 
 
Pre-Modification Outstanding Recorded Balance
 
 
Post-Modification Outstanding Recorded Balance
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential 1-4 Family
 
 
-
 
 
$
-
 
 
$
-
 
 
 
-
 
 
$
-
 
 
$
-
 
Commercial Real Estate and Multi-Family
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Agricultural Real Estate
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Consumer
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Commercial Operating
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Agricultural Operating
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
   Total
 
 
-
 
 
$
-
 
 
$
-
 
 
 
-
 
 
$
-
 
 
$
-
 
 
The following table provides information on TDR loans for which there was a payment default during the three month periods ended December 31, 2012 and 2011, that had been modified during the 12-month period prior to the default:
 
 
During the Three Months Ended
 
 
December 31, 2012
 
 
December 31, 2011
 
 
Number of Loans
 
 
Recorded Investment
 
 
Number of Loans
 
 
Recorded Investment
 
Residential 1-4 Family
 
 
-
 
 
$
-
 
 
 
-
 
 
$
-
 
Commercial Real Estate and Multi Family
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Agricultural Real Estate
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Consumer
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Commercial Operating
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Agricultural Operating
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
  Total
 
 
-
 
 
$
-
 
 
 
-
 
 
$
-