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CREDIT DISCLOSURES (Tables)

6 Months Ended

Mar. 31, 2017

Loans and Leases Receivable Disclosure [Abstract]

Schedule of Loans Receivable

Loans receivable at March 31, 2017 and September 30, 2016 were as follows:

	March 31, 2017				September 30, 2016
	(Dollars in Thousands)
1-4 Family Real Estate	$	178,310			$	162,298
Commercial and Multi-Family Real Estate	473,058				422,932
Agricultural Real Estate	62,422				63,612
Consumer	182,156				37,094
Commercial Operating	33,894				31,271
Agricultural Operating	35,493				37,083
Premium Finance	187,049				171,604
Total Loans Receivable	1,152,382				925,894
Allowance for Loan Losses	(14,602		)		(5,635		)
Net Deferred Loan Origination Fees	(1,190		)		(789		)
Total Loans Receivable, Net	$	1,136,590			$	919,470

Annual Activity in Allowance for Loan Losses, Allowance for Loan Losses and Recorded Investment in Loans

Activity in the allowance for loan losses and balances of loans receivable by portfolio segment for the three and six months ended March 31, 2017 and 2016 was as follows:

	1-4 Family Real Estate				Commercial and Multi-Family Real Estate				Agricultural Real Estate				Consumer				Commercial Operating				Agricultural Operating				Premium Finance				Unallocated				Total
	(Dollars in Thousands)
Three Months Ended March 31, 2017
Allowance for loan losses:
Beginning balance	$	654			$	1,912			$	476			$	47			$	813			$	1,341			$	594			$	578			$	6,415
Provision (recovery) for loan losses	(358		)		(170		)		1,048				7,658				304				8				115				43				8,648
Charge offs	—				—				—				—				(350		)		—				(140		)		—				(490		)
Recoveries	—				—				—				1				—				—				28				—				29
Ending balance	$	296			$	1,742			$	1,524			$	7,706			$	767			$	1,349			$	597			$	621			$	14,602
Six Months Ended March 31, 2017
Allowance for loan losses:
Beginning balance	$	654			$	2,198			$	142			$	51			$	117			$	1,332			$	588			$	553			$	5,635
Provision (recovery) for loan losses	(358		)		(456		)		1,382				7,631				995				4				226				68				9,492
Charge offs	—				—				—				—				(350		)		—				(259		)		—				(609		)
Recoveries	—				—				—				24				5				13				42				—				84
Ending balance	$	296			$	1,742			$	1,524			$	7,706			$	767			$	1,349			$	597			$	621			$	14,602
Ending balance: individually evaluated for impairment	12				—				—				—				53				—				—				—				65
Ending balance: collectively evaluated for impairment	284				1,742				1,524				7,706				714				1,349				597				621				14,537
Total	$	296			$	1,742			$	1,524			$	7,706			$	767			$	1,349			$	597			$	621			$	14,602
Loans:
Ending balance: individually evaluated for impairment	248				1,144				582				—				302				1,072				—				—				3,348
Ending balance: collectively evaluated for impairment	178,062				471,914				61,840				182,156				33,592				34,421				187,049				—				1,149,034
Total	$	178,310			$	473,058			$	62,422			$	182,156			$	33,894			$	35,493			$	187,049			$	—			$	1,152,382

	1-4 Family Real Estate				Commercial and Multi-Family Real Estate				Agricultural Real Estate				Consumer				Commercial Operating				Agricultural Operating				Premium Finance				Unallocated				Total
	(Dollars in Thousands)
Three Months Ended March 31, 2016
Allowance for loan losses:
Beginning balance	$	285			$	1,194			$	171			$	20			$	107			$	3,856			$	424			$	609			$	6,666
Provision (recovery) for loan losses	42				790				(17		)		1,039				(62		)		(529		)		171				(261		)		1,173
Charge offs	—				(290		)		—				—				—				—				(137		)		—				(427		)
Recoveries	—				—				—				—				—				—				19				—				19
Ending balance	$	327			$	1,694			$	154			$	1,059			$	45			$	3,327			$	477			$	348			$	7,431
Six Months Ended March 31, 2016
Allowance for loan losses:
Beginning balance	$	278			$	1,187			$	163			$	20			$	28			$	3,537			$	293			$	749			$	6,255
Provision (recovery) for loan losses	49				797				(9		)		1,039				17				(210		)		677				(401		)		1,959
Charge offs	—				(290		)		—				—				—				—				(527		)		—				(817		)
Recoveries	—				—				—				—				—				—				34				—				34
Ending balance	$	327			$	1,694			$	154			$	1,059			$	45			$	3,327			$	477			$	348			$	7,431
Ending balance: individually evaluated for impairment	—				40				—				—				—				2,846				—				—				2,886
Ending balance: collectively evaluated for impairment	327				1,654				154				1,059				45				481				477				348				4,545
Total	$	327			$	1,694			$	154			$	1,059			$	45			$	3,327			$	477			$	348			$	7,431
Loans:
Ending balance: individually evaluated for impairment	114				1,091				—				—				6				3,421				—				—				4,632
Ending balance: collectively evaluated for impairment	139,886				353,703				64,111				35,937				26,903				38,660				121,572				—				780,772
Total	$	140,000			$	354,794			$	64,111			$	35,937			$	26,909			$	42,081			$	121,572			$	—			$	785,404

Asset Classification of Loans

The asset classification of loans at March 31, 2017 and September 30, 2016 were as follows:

March 31, 2017	1-4 Family Real Estate				Commercial and Multi-Family Real Estate				Agricultural Real Estate				Consumer				Commercial Operating				Agricultural Operating				Premium Finance				Total
	(Dollars in Thousands)
Pass	$	176,844			$	471,748			$	28,828			$	182,156			$	33,572			$	18,893			$	187,049			$	1,099,090
Watch	537				72				—				—				21				40				—				670
Special Mention	660				204				2,965				—				—				—				—				3,829
Substandard	269				1,034				30,629				—				248				16,560				—				48,740
Doubtful	—				—				—				—				53				—				—				53
	$	178,310			$	473,058			$	62,422			$	182,156			$	33,894			$	35,493			$	187,049			$	1,152,382

September 30, 2016	1-4 Family Real Estate				Commercial and Multi-Family Real Estate				Agricultural Real Estate				Consumer				Commercial Operating				Agricultural Operating				Premium Finance				Total
	(Dollars in Thousands)
Pass	$	161,255			$	421,577			$	34,421			$	37,094			$	30,574			$	19,669			$	171,604			$	876,194
Watch	200				72				2,934				—				184				4,625				—				8,015
Special Mention	666				962				25,675				—				—				5,407				—				32,710
Substandard	177				321				582				—				513				7,382				—				8,975
Doubtful	—				—				—				—				—				—				—				—
	$	162,298			$	422,932			$	63,612			$	37,094			$	31,271			$	37,083			$	171,604			$	925,894

Past Due Loans

Past due loans at March 31, 2017 and September 30, 2016 were as follows:

March 31, 2017	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	$	42			$	59			$	—			$	101			$	178,097			$	112			$	178,310
Commercial and Multi-Family Real Estate	2,864				315				—				3,179				469,724				155				473,058
Agricultural Real Estate	35,058				—				—				35,058				23,903				3,461				62,422
Consumer	8,009				1,329				284				9,622				172,534				—				182,156
Commercial Operating	—				—				—				—				33,747				147				33,894
Agricultural Operating	—				—				—				—				35,396				97				35,493
Premium Finance	1,029				954				723				2,706				184,343				—				187,049
Total	$	47,002			$	2,657			$	1,007			$	50,666			$	1,097,744			$	3,972			$	1,152,382

September 30, 2016	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	$	—			$	30			$	—			$	30			$	162,185			$	83			$	162,298
Commercial and Multi-Family Real Estate	—				—				—				—				422,932				—				422,932
Agricultural Real Estate	—				—				—				—				63,612				—				63,612
Consumer	—				—				53				53				37,041				—				37,094
Commercial Operating	151				354				—				505				30,766				—				31,271
Agricultural Operating	—				—				—				—				37,083				—				37,083
Premium Finance	1,398				275				965				2,638				168,966				—				171,604
Total	$	1,549			$	659			$	1,018			$	3,226			$	922,585			$	83			$	925,894

Impaired Loans

Impaired loans at March 31, 2017 and September 30, 2016 were as follows:

	Recorded Balance				Unpaid Principal Balance				Specific Allowance
March 31, 2017	(Dollars in Thousands)
Loans without a specific valuation allowance
1-4 Family Real Estate	$	170			$	170			$	—
Commercial and Multi-Family Real Estate	1,144				1,144				—
Agricultural Real Estate	$	582			$	582			$	—
Agricultural Operating	$	1,072			$	1,072			$	—
Total	$	2,968			$	2,968			$	—
Loans with a specific valuation allowance
1-4 Family Real Estate	$	78			$	78			$	12
Commercial Operating	$	302			$	302			$	53
Total	$	380			$	380			$	65

	Recorded Balance				Unpaid Principal Balance				Specific Allowance
September 30, 2016	(Dollars in Thousands)
Loans without a specific valuation allowance
1-4 Family Real Estate	$	84			$	84			$	—
Commercial and Multi-Family Real Estate	433				433				—
Total	$	517			$	517			$	—
Loans with a specific valuation allowance
1-4 Family Real Estate	$	78			$	78			$	10
Total	$	78			$	78			$	10

The following table provides the average recorded investment in impaired loans for the three and six month periods ended March 31, 2017 and 2016.

	Three Months Ended March 31,								Six Months Ended March 31,
	2017				2016				2017				2016
	Average Recorded Investment				Average Recorded Investment				Average Recorded Investment				Average Recorded Investment
	(Dollars in Thousands)
1-4 Family Real Estate	$	210			$	116			$	191			$	118
Commercial and Multi-Family Real Estate	668				1,257				550				1,302
Agricultural Real Estate	194				—				97				—
Consumer	—				—				—				—
Commercial Operating	437				7				302				8
Agricultural Operating	357				4,362				179				4,697
Premium Finance	—				—				—				—
Total	$	1,866			$	5,742			$	1,319			$	6,125

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- Definition

Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 55
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-URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953803-111525

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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.

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-Publisher FASB
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