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LOANS RECEIVABLE, NET (Tables) | 12 Months Ended
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Sep. 30, 2014
LOANS RECEIVABLE NET [Abstract] |
Year-end Loans Receivable | Year-end loans receivable were as follows:
|  | September 30, 2014 |  |  | September 30, 2013 |
|  | (Dollars in Thousands) |
1-4 Family Real Estate |  | $ | 116,395 |  |  | $ | 82,287 |
Commercial and Multi-Family Real Estate |  |  | 224,302 |  |  |  | 192,786 |
Agricultural Real Estate |  |  | 56,071 |  |  |  | 29,552 |
Consumer |  |  | 29,329 |  |  |  | 30,314 |
Commercial Operating |  |  | 30,846 |  |  |  | 16,264 |
Agricultural Operating |  |  | 42,258 |  |  |  | 33,750 |
Total Loans Receivable |  |  | 499,201 |  |  |  | 384,953 |
Less: |  |  |  |  |  |  |  |
Allowance for Loan Losses |  |  | (5,397 | ) |  |  | (3,930 | )
Net Deferred Loan Origination Fees |  |  | (797 | ) |  |  | (595 | )
Total Loans Receivable, Net |  | $ | 493,007 |  |  | $ | 380,428 |
Annual Activity in Allowance for Loan Losses, Allowance for Loan Losses and Recorded Investment in Loans | Annual activity in the allowance for loan losses was as follows:
Year ended September 30, |  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (Dollars in Thousands) |
Beginning balance |  | $ | 3,930 |  |  | $ | 3,971 |  |  | $ | 4,926 |
Provision (recovery) for loan losses |  |  | 1,150 |  |  |  | - |  |  |  | 1,049 |
Recoveries |  |  | 367 |  |  |  | 179 |  |  |  | 99 |
Charge offs |  |  | (50 | ) |  |  | (220 | ) |  |  | (2,103 | )
Ending balance |  | $ | 5,397 |  |  | $ | 3,930 |  |  | $ | 3,971 |
Allowance for Loan Losses and Recorded Investment in loans at September 30, 2014 and 2013 are as follows:
|  | 1-4 Family Real Estate |  |  | Commercial and Multi-Family Real Estate |  |  | Agricultural Real Estate |  |  | Consumer |  |  | Commercial Operating |  |  | Agricultural Operating |  |  | Unallocated |  |  | Total |
|  | (Dollars in Thousands) |
Year Ended September 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 333 |  |  | $ | 1,937 |  |  | $ | 112 |  |  | $ | 74 |  |  | $ | 49 |  |  | $ | 267 |  |  | $ | 1,158 |  |  | $ | 3,930 |
Provision (recovery) for loan losses |  |  | 217 |  |  |  | (709 | ) |  |  | 151 |  |  |  | 4 |  |  |  | 26 |  |  |  | 502 |  |  |  | 959 |  |  |  | 1,150 |
Charge offs |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (50 | ) |  |  | - |  |  |  | (50 | )
Recoveries |  |  | 2 |  |  |  | 347 |  |  |  | - |  |  |  | - |  |  |  | 18 |  |  |  | - |  |  |  | - |  |  |  | 367 |
Ending balance |  | $ | 552 |  |  | $ | 1,575 |  |  | $ | 263 |  |  | $ | 78 |  |  | $ | 93 |  |  | $ | 719 |  |  | $ | 2,117 |  |  | $ | 5,397 |
Ending balance: individually evaluated for impairment |  |  | 23 |  |  |  | 350 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 340 |  |  |  | - |  |  |  | 713 |
Ending balance: collectively evaluated for impairment |  |  | 529 |  |  |  | 1,225 |  |  |  | 263 |  |  |  | 78 |  |  |  | 93 |  |  |  | 379 |  |  |  | 2,117 |  |  |  | 4,684 |
Total |  | $ | 552 |  |  | $ | 1,575 |  |  | $ | 263 |  |  | $ | 78 |  |  | $ | 93 |  |  | $ | 719 |  |  | $ | 2,117 |  |  | $ | 5,397 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually evaluated for impairment |  |  | 387 |  |  |  | 5,655 |  |  |  | - |  |  |  | - |  |  |  | 22 |  |  |  | 340 |  |  |  | - |  |  |  | 6,404 |
Ending balance: collectively evaluated for impairment |  |  | 116,008 |  |  |  | 218,647 |  |  |  | 56,071 |  |  |  | 29,329 |  |  |  | 30,824 |  |  |  | 41,918 |  |  |  | - |  |  |  | 492,797 |
Total |  | $ | 116,395 |  |  | $ | 224,302 |  |  | $ | 56,071 |  |  | $ | 29,329 |  |  | $ | 30,846 |  |  | $ | 42,258 |  |  | $ | - |  |  | $ | 499,201 |
|  | 1-4 Family Real Estate |  |  | Commercial and Multi-Family Real Estate |  |  | Agricultural Real Estate |  |  | Consumer |  |  | Commercial Operating |  |  | Agricultural Operating |  |  | Unallocated |  |  | Total |
|  | (Dollars in Thousands) |
Year Ended September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 193 |  |  | $ | 3,113 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 49 |  |  | $ | - |  |  | $ | 612 |  |  | $ | 3,971 |
Provision (recovery) for loan losses |  |  | 163 |  |  |  | (1,095 | ) |  |  | 111 |  |  |  | 71 |  |  |  | (63 | ) |  |  | 267 |  |  |  | 546 |  |  |  | - |
Charge offs |  |  | (25 | ) |  |  | (194 | ) |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (220 | )
Recoveries |  |  | 2 |  |  |  | 113 |  |  |  | - |  |  |  | 1 |  |  |  | 63 |  |  |  | - |  |  |  | - |  |  |  | 179 |
Ending balance |  | $ | 333 |  |  | $ | 1,937 |  |  | $ | 112 |  |  | $ | 74 |  |  | $ | 49 |  |  | $ | 267 |  |  | $ | 1,158 |  |  | $ | 3,930 |
Ending balance: individually evaluated for impairment |  |  | 25 |  |  |  | 404 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 429 |
Ending balance: collectively evaluated for impairment |  |  | 308 |  |  |  | 1,533 |  |  |  | 112 |  |  |  | 74 |  |  |  | 49 |  |  |  | 267 |  |  |  | 1,158 |  |  |  | 3,501 |
Total |  | $ | 333 |  |  | $ | 1,937 |  |  | $ | 112 |  |  | $ | 74 |  |  | $ | 49 |  |  | $ | 267 |  |  | $ | 1,158 |  |  | $ | 3,930 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually evaluated for impairment |  |  | 641 |  |  |  | 6,634 |  |  |  | - |  |  |  | - |  |  |  | 45 |  |  |  | - |  |  |  | - |  |  |  | 7,320 |
Ending balance: collectively evaluated for impairment |  |  | 81,646 |  |  |  | 186,152 |  |  |  | 29,552 |  |  |  | 30,314 |  |  |  | 16,219 |  |  |  | 33,750 |  |  |  | - |  |  |  | 377,633 |
Total |  | $ | 82,287 |  |  | $ | 192,786 |  |  | $ | 29,552 |  |  | $ | 30,314 |  |  | $ | 16,264 |  |  | $ | 33,750 |  |  | $ | - |  |  | $ | 384,953 |
Asset Classification of Loans | The asset classification of loans at September 30, 2014 and 2013, are as follows:
September 30, 2014 |  | 1-4 Family Real Estate |  |  | Commercial and Multi-Family Real Estate |  |  | Agricultural Real Estate |  |  | Consumer |  |  | Commercial Operating |  |  | Agricultural Operating |  |  | Total |
|  | (Dollars in Thousands) |
Pass |  | $ | 115,700 |  |  | $ | 222,074 |  |  | $ | 52,364 |  |  | $ | 29,329 |  |  | $ | 30,709 |  |  | $ | 32,261 |  |  | $ | 482,437 |
Watch |  |  | 369 |  |  |  | 852 |  |  |  | 273 |  |  |  | - |  |  |  | 137 |  |  |  | 369 |  |  |  | 2,000 |
Special Mention |  |  | 81 |  |  |  | 96 |  |  |  | 1,660 |  |  |  | - |  |  |  | - |  |  |  | 63 |  |  |  | 1,900 |
Substandard |  |  | 245 |  |  |  | 1,280 |  |  |  | 1,774 |  |  |  | - |  |  |  | - |  |  |  | 9,565 |  |  |  | 12,864 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 116,395 |  |  | $ | 224,302 |  |  | $ | 56,071 |  |  | $ | 29,329 |  |  | $ | 30,846 |  |  | $ | 42,258 |  |  | $ | 499,201 |
September 30, 2013 |  | 1-4 Family Real Estate |  |  | Commercial and Multi-Family Real Estate |  |  | Agricultural Real Estate |  |  | Consumer |  |  | Commercial Operating |  |  | Agricultural Operating |  |  | Total |
|  | (Dollars in Thousands) |
Pass |  | $ | 81,719 |  |  | $ | 177,513 |  |  | $ | 26,224 |  |  | $ | 30,314 |  |  | $ | 16,251 |  |  | $ | 26,362 |  |  | $ | 358,383 |
Watch |  |  | 239 |  |  |  | 7,791 |  |  |  | 3,328 |  |  |  | - |  |  |  | 13 |  |  |  | 1,690 |  |  |  | 13,061 |
Special Mention |  |  | 84 |  |  |  | 102 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 5,698 |  |  |  | 5,884 |
Substandard |  |  | 245 |  |  |  | 7,380 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7,625 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 82,287 |  |  | $ | 192,786 |  |  | $ | 29,552 |  |  | $ | 30,314 |  |  | $ | 16,264 |  |  | $ | 33,750 |  |  | $ | 384,953 |
Past Due Loans | Past due loans at September 30, 2014 and 2013 are as follows:
September 30, 2014 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Greater Than 90 Days |  |  | Total Past Due |  |  | Current |  |  | Non-Accrual Loans |  |  | Total Loans Receivable |
|  | (Dollars in Thousands) |
1-4 Family Real Estate |  | $ | 111 |  |  | $ | 37 |  |  | $ | - |  |  | $ | 148 |  |  | $ | 115,966 |  |  | $ | 281 |  |  | $ | 116,395 |
Commercial and Multi-Family Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 223,990 |  |  |  | 312 |  |  |  | 224,302 |
Agricultural Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 56,071 |  |  |  | - |  |  |  | 56,071 |
Consumer |  |  | 2 |  |  |  | 12 |  |  |  | 54 |  |  |  | 68 |  |  |  | 29,261 |  |  |  | - |  |  |  | 29,329 |
Commercial Operating |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 30,846 |  |  |  | - |  |  |  | 30,846 |
Agricultural Operating |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 41,918 |  |  |  | 340 |  |  |  | 42,258 |
Total |  | $ | 113 |  |  | $ | 49 |  |  | $ | 54 |  |  | $ | 216 |  |  | $ | 498,052 |  |  | $ | 933 |  |  | $ | 499,201 |
September 30, 2013 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Greater Than 90 Days |  |  | Total Past Due |  |  | Current |  |  | Non-Accrual Loans |  |  | Total Loans Receivable |
|  | (Dollars in Thousands) |
1-4 Family Real Estate |  | $ | 53 |  |  | $ | - |  |  | $ | 245 |  |  | $ | 298 |  |  | $ | 81,744 |  |  | $ | 245 |  |  | $ | 82,287 |
Commercial and Multi-Family Real Estate |  |  | 102 |  |  |  | - |  |  |  | 107 |  |  |  | 209 |  |  |  | 192,150 |  |  |  | 427 |  |  |  | 192,786 |
Agricultural Real Estate |  |  | 1,169 |  |  |  | - |  |  |  | - |  |  |  | 1,169 |  |  |  | 28,383 |  |  |  | - |  |  |  | 29,552 |
Consumer |  |  | 29 |  |  |  | 21 |  |  |  | 13 |  |  |  | 63 |  |  |  | 30,251 |  |  |  | - |  |  |  | 30,314 |
Commercial Operating |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16,257 |  |  |  | 7 |  |  |  | 16,264 |
Agricultural Operating |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 33,750 |  |  |  | - |  |  |  | 33,750 |
Total |  | $ | 1,353 |  |  | $ | 21 |  |  | $ | 365 |  |  | $ | 1,739 |  |  | $ | 382,535 |  |  | $ | 679 |  |  | $ | 384,953 |
Impaired Loans | Impaired loans at September 30, 2014 and 2013 are as follows:
|  | Recorded Balance |  |  | Unpaid Principal Balance |  |  | Specific Allowance |
September 30, 2014 |  | (Dollars in Thousands) |
Loans without a specific valuation allowance |  |  |  |  |  |  |  |  |
1-4 Family Real Estate |  | $ | 142 |  |  | $ | 142 |  |  | $ | - |
Commercial and Multi-Family Real Estate |  |  | 4,375 |  |  |  | 4,375 |  |  |  | - |
Agricultural Real Estate |  |  | - |  |  |  | - |  |  |  | - |
Consumer |  |  | - |  |  |  | - |  |  |  | - |
Commercial Operating |  |  | 22 |  |  |  | 22 |  |  |  | - |
Agricultural Operating |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 4,539 |  |  | $ | 4,539 |  |  | $ | - |
Loans with a specific valuation allowance |  |  |  |  |  |  |  |  |  |  |  |
1-4 Family Real Estate |  | $ | 245 |  |  | $ | 245 |  |  | $ | 23 |
Commercial and Multi-Family Real Estate |  |  | 1,280 |  |  |  | 1,280 |  |  |  | 350 |
Agricultural Real Estate |  |  | - |  |  |  | - |  |  |  | - |
Consumer |  |  | - |  |  |  | - |  |  |  | - |
Commercial Operating |  |  | - |  |  |  | - |  |  |  | - |
Agricultural Operating |  |  | 340 |  |  |  | 340 |  |  |  | 340 |
Total |  | $ | 1,865 |  |  | $ | 1,865 |  |  | $ | 713 |
|  | Recorded Balance |  |  | Unpaid Principal Balance |  |  | Specific Allowance |
September 30, 2013 |  | (Dollars in Thousands) |
Loans without a specific valuation allowance |  |  |  |  |  |  |  |  |  |  |  |
1-4 Family Real Estate |  | $ | 359 |  |  | $ | 359 |  |  | $ | - |
Commercial and Multi-Family Real Estate |  |  | 4,527 |  |  |  | 4,535 |  |  |  | - |
Agricultural Real Estate |  |  | - |  |  |  | - |  |  |  | - |
Consumer |  |  | - |  |  |  | - |  |  |  | - |
Commercial Operating |  |  | 45 |  |  |  | 60 |  |  |  | - |
Agricultural Operating |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 4,931 |  |  | $ | 4,954 |  |  | $ | - |
Loans with a specific valuation allowance |  |  |  |  |  |  |  |  |  |  |  |
1-4 Family Real Estate |  | $ | 282 |  |  | $ | 282 |  |  | $ | 25 |
Commercial and Multi-Family Real Estate |  |  | 2,107 |  |  |  | 2,107 |  |  |  | 404 |
Agricultural Real Estate |  |  | - |  |  |  | - |  |  |  | - |
Consumer |  |  | - |  |  |  | - |  |  |  | - |
Commercial Operating |  |  | - |  |  |  | - |  |  |  | - |
Agricultural Operating |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 2,389 |  |  | $ | 2,389 |  |  | $ | 429 |
Cash interest collected on impaired loans was not material during the years ended September 30, 2014 and 2013. The following table provides the average recorded investment in impaired loans for the years ended September 30, 2014 and 2013.
|  | Year Ended September 30, |
|  | 2014 |  |  | 2013 |
|  | Average Recorded Investment |  |  | Average Recorded Investment |
|  | (Dollars in Thousands) |
1-4 Family Real Estate |  | $ | 574 |  |  | $ | 596 |
Commercial and Multi-Family Real Estate |  |  | 6,526 |  |  |  | 8,480 |
Agricultural Real Estate |  |  | - |  |  |  | - |
Consumer |  |  | - |  |  |  | 1 |
Commercial Operating |  |  | 34 |  |  |  | 51 |
Agricultural Operating |  |  | 29 |  |  |  | - |
Total |  | $ | 7,163 |  |  | $ | 9,128 |

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- Definition Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=35738203&loc=d3e5111-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=35738203&loc=SL6953401-111524 + Details
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