XML 22 R12.htm IDEA: XBRL DOCUMENT
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Loans | 6 Months Ended
--- | ---
Dec. 31, 2016
Receivables [Abstract] |
Loans | Loans Loans consist of the following at the dates indicated:
| December 31, 2016 |  | June 30, 2016
Retail consumer loans: |  |  |
One-to-four family | $ | 608,118 |  |  | $ | 623,701 |
HELOCs - originated | 156,615 |  |  | 163,293 |
HELOCs - purchased | 173,511 |  |  | 144,377 |
Construction and land/lots | 42,628 |  |  | 38,102 |
Indirect auto finance | 129,132 |  |  | 108,478 |
Consumer | 5,852 |  |  | 4,635 |
Total retail consumer loans | 1,115,856 |  |  | 1,082,586 |
Commercial loans: |  |  |  |  |
Commercial real estate | 531,321 |  |  | 486,561 |
Construction and development | 129,370 |  |  | 86,840 |
Commercial and industrial | 77,352 |  |  | 73,289 |
Municipal leases | 101,730 |  |  | 103,183 |
Total commercial loans | 839,773 |  |  | 749,873 |
Total loans | 1,955,629 |  |  | 1,832,459 |
Deferred loan costs (fees), net | (25 | ) |  | 372 |
Total loans, net of deferred loan fees | 1,955,604 |  |  | 1,832,831 |
Allowance for loan and lease losses | (20,986 | ) |  | (21,292 | )
Loans, net | $ | 1,934,618 |  |  | $ | 1,811,539 |
All the qualifying one-to-four family first mortgage loans, HELOCs, and FHLB Stock are pledged as collateral by a blanket pledge to secure any outstanding FHLB advances. The Company's total non-purchased and purchased performing loans by segment, class, and risk grade at the dates indicated follow:
| Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Loss |  | Total
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |  |  |
One-to-four family | $ | 575,429 |  |  | $ | 8,320 |  |  | $ | 17,898 |  |  | $ | 1,239 |  |  | $ | 48 |  |  | $ | 602,934 |
HELOCs - originated | 152,810 |  |  | 944 |  |  | 2,514 |  |  | 55 |  |  | 9 |  |  | 156,332 |
HELOCs - purchased | 173,511 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 173,511 |
Construction and land/lots | 40,774 |  |  | 696 |  |  | 590 |  |  | 32 |  |  | — |  |  | 42,092 |
Indirect auto finance | 128,903 |  |  | 25 |  |  | 203 |  |  | — |  |  | 1 |  |  | 129,132 |
Consumer | 5,617 |  |  | 1 |  |  | 215 |  |  | 3 |  |  | 10 |  |  | 5,846 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 498,507 |  |  | 6,445 |  |  | 9,847 |  |  | 1 |  |  | — |  |  | 514,800 |
Construction and development | 121,946 |  |  | 819 |  |  | 3,824 |  |  | — |  |  | — |  |  | 126,589 |
Commercial and industrial | 69,119 |  |  | 850 |  |  | 4,264 |  |  | — |  |  | 1 |  |  | 74,234 |
Municipal leases | 100,129 |  |  | 963 |  |  | 638 |  |  | — |  |  | — |  |  | 101,730 |
Total loans | $ | 1,866,745 |  |  | $ | 19,063 |  |  | $ | 39,993 |  |  | $ | 1,330 |  |  | $ | 69 |  |  | $ | 1,927,200 |
| Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Loss |  | Total
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |  |  |
One-to-four family | $ | 587,440 |  |  | $ | 7,800 |  |  | $ | 20,129 |  |  | $ | 1,283 |  |  | $ | 11 |  |  | $ | 616,663 |
HELOCs - originated | 159,275 |  |  | 678 |  |  | 2,997 |  |  | 55 |  |  | 10 |  |  | 163,015 |
HELOCs - purchased | 144,377 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 144,377 |
Construction and land/lots | 36,298 |  |  | 542 |  |  | 679 |  |  | 9 |  |  | — |  |  | 37,528 |
Indirect auto finance | 108,432 |  |  | 14 |  |  | 21 |  |  | 11 |  |  | — |  |  | 108,478 |
Consumer | 4,390 |  |  | 1 |  |  | 224 |  |  | 2 |  |  | 9 |  |  | 4,626 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 448,188 |  |  | 7,817 |  |  | 9,232 |  |  | 1 |  |  | — |  |  | 465,238 |
Construction and development | 79,005 |  |  | 480 |  |  | 4,208 |  |  | — |  |  | — |  |  | 83,693 |
Commercial and industrial | 63,299 |  |  | 1,032 |  |  | 5,361 |  |  | — |  |  | 2 |  |  | 69,694 |
Municipal leases | 100,867 |  |  | 1,651 |  |  | 665 |  |  | — |  |  | — |  |  | 103,183 |
Total loans | $ | 1,731,571 |  |  | $ | 20,015 |  |  | $ | 43,516 |  |  | $ | 1,361 |  |  | $ | 32 |  |  | $ | 1,796,495 |
The Company's total PCI loans by segment, class, and risk grade at the dates indicated follow:
| Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Loss |  | Total
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |  |  |
One-to-four family | $ | 3,175 |  |  | $ | 471 |  |  | $ | 1,358 |  |  | $ | 180 |  |  | $ | — |  |  | $ | 5,184 |
HELOCs - originated | 257 |  |  | — |  |  | 26 |  |  | — |  |  | — |  |  | 283 |
Construction and land/lots | 494 |  |  | — |  |  | 42 |  |  | — |  |  | — |  |  | 536 |
Consumer | 6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 8,800 |  |  | 3,612 |  |  | 4,109 |  |  | — |  |  | — |  |  | 16,521 |
Construction and development | 812 |  |  | — |  |  | 1,969 |  |  | — |  |  | — |  |  | 2,781 |
Commercial and industrial | 2,989 |  |  | 84 |  |  | 45 |  |  | — |  |  | — |  |  | 3,118 |
Total loans | $ | 16,533 |  |  | $ | 4,167 |  |  | $ | 7,549 |  |  | $ | 180 |  |  | $ | — |  |  | $ | 28,429 |
| Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Loss |  | Total
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |  |  |
One-to-four family | $ | 5,039 |  |  | $ | 377 |  |  | $ | 1,593 |  |  | $ | 14 |  |  | $ | 15 |  |  | $ | 7,038 |
HELOCs - originated | 258 |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 278 |
Construction and land/lots | 522 |  |  | — |  |  | 52 |  |  | — |  |  | — |  |  | 574 |
Consumer | 8 |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 9 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 12,594 |  |  | 4,266 |  |  | 4,463 |  |  | — |  |  | — |  |  | 21,323 |
Construction and development | 1,136 |  |  | 292 |  |  | 1,719 |  |  | — |  |  | — |  |  | 3,147 |
Commercial and industrial | 3,234 |  |  | 194 |  |  | 167 |  |  | — |  |  | — |  |  | 3,595 |
Total loans | $ | 22,791 |  |  | $ | 5,129 |  |  | $ | 8,014 |  |  | $ | 14 |  |  | $ | 16 |  |  | $ | 35,964 |
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
December 31, 2016 |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |
One-to-four family | $ | 3,733 |  |  | $ | 3,728 |  |  | $ | 7,461 |  |  | $ | 600,657 |  |  | $ | 608,118 |
HELOCs - originated | 569 |  |  | 354 |  |  | 923 |  |  | 155,692 |  |  | 156,615 |
HELOCs - purchased | — |  |  | — |  |  | — |  |  | 173,511 |  |  | 173,511 |
Construction and land/lots | 116 |  |  | 83 |  |  | 199 |  |  | 42,429 |  |  | 42,628 |
Indirect auto finance | 353 |  |  | 30 |  |  | 383 |  |  | 128,749 |  |  | 129,132 |
Consumer | 45 |  |  | 13 |  |  | 58 |  |  | 5,794 |  |  | 5,852 |
Commercial loans: |  |  |  |  |  |  |  |  |
Commercial real estate | 128 |  |  | 4,486 |  |  | 4,614 |  |  | 526,707 |  |  | 531,321 |
Construction and development | 638 |  |  | 1,222 |  |  | 1,860 |  |  | 127,510 |  |  | 129,370 |
Commercial and industrial | 575 |  |  | 1,714 |  |  | 2,289 |  |  | 75,063 |  |  | 77,352 |
Municipal leases | 114 |  |  | — |  |  | 114 |  |  | 101,616 |  |  | 101,730 |
Total loans | $ | 6,271 |  |  | $ | 11,630 |  |  | $ | 17,901 |  |  | $ | 1,937,728 |  |  | $ | 1,955,629 |
The table above includes PCI loans of $214 30-89 days past due and $5,382 90 days or more past due as of December 31, 2016.
| Past Due |  |  |  | Total
| 30-89 Days |  | 90 Days+ |  | Total |  | Current |  | Loans
June 30, 2016 |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |
One-to-four family | $ | 3,514 |  |  | $ | 5,476 |  |  | $ | 8,990 |  |  | $ | 614,711 |  |  | $ | 623,701 |
HELOCs - originated | 220 |  |  | 377 |  |  | 597 |  |  | 162,696 |  |  | 163,293 |
HELOCs - purchased | — |  |  | — |  |  | — |  |  | 144,377 |  |  | 144,377 |
Construction and land/lots | 100 |  |  | 119 |  |  | 219 |  |  | 37,883 |  |  | 38,102 |
Indirect auto finance | 182 |  |  | — |  |  | 182 |  |  | 108,296 |  |  | 108,478 |
Consumer | 4 |  |  | 4 |  |  | 8 |  |  | 4,627 |  |  | 4,635 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 1,436 |  |  | 3,353 |  |  | 4,789 |  |  | 481,772 |  |  | 486,561 |
Construction and development | 371 |  |  | 1,296 |  |  | 1,667 |  |  | 85,173 |  |  | 86,840 |
Commercial and industrial | 216 |  |  | 2,819 |  |  | 3,035 |  |  | 70,254 |  |  | 73,289 |
Municipal leases | — |  |  | — |  |  | — |  |  | 103,183 |  |  | 103,183 |
Total loans | $ | 6,043 |  |  | $ | 13,444 |  |  | $ | 19,487 |  |  | $ | 1,812,972 |  |  | $ | 1,832,459 |
The table above includes PCI loans of $1,596 30-89 days past due and $5,776 90 days or more past due as of June 30, 2016. 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:
| December 31, 2016 |  | June 30, 2016
| Nonaccruing |  | 90 Days + & still accruing |  | Nonaccruing |  | 90 Days + & still accruing
Retail consumer loans: |  |  |  |  |  |  |
One-to-four family | $ | 7,361 |  |  | $ | — |  |  | $ | 9,192 |  |  | $ | — |
HELOCs - originated | 654 |  |  | — |  |  | 1,026 |  |  | — |
Construction and land/lots | 173 |  |  | — |  |  | 188 |  |  | — |
Indirect auto finance | 176 |  |  | — |  |  | 20 |  |  | — |
Consumer | 31 |  |  | — |  |  | 15 |  |  | — |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 3,374 |  |  | — |  |  | 3,222 |  |  | — |
Construction and development | 1,759 |  |  | — |  |  | 1,417 |  |  | — |
Commercial and industrial | 2,070 |  |  | — |  |  | 3,019 |  |  | — |
Municipal leases | 408 |  |  | — |  |  | 419 |  |  | — |
Total loans | $ | 16,006 |  |  | $ | — |  |  | $ | 18,518 |  |  | $ | — |
PCI loans totaling $6,228 at December 31, 2016 and $6,607 at June 30, 2016 are excluded from nonaccruing loans due to the accretion of discounts established in accordance with the acquisition method of accounting for business combinations. Troubled debt restructurings ("TDRs") are loans which have renegotiated loan terms to assist borrowers who are unable to meet the original terms of their loans. Such modifications to loan terms may include a lower interest rate, a reduction in principal, or a longer term to maturity. Additionally, all TDRs are considered impaired. The Company had no commitments to lend additional funds on these TDR loans at December 31, 2016. The Company's loans that were performing under the payment terms of TDRs that were excluded from nonaccruing loans above at the dates indicated follow:
| December 31, 2016 |  | June 30, 2016
Performing TDRs included in impaired loans | $ | 27,448 |  |  | $ | 28,263 |
An analysis of the allowance for loan losses by segment for the periods shown is as follows:
| Three Months Ended December 31, 2016 |  | Three Months Ended December 31, 2015
| PCI |  | Retail Consumer |  | Commercial |  | Total |  | PCI |  | Retail Consumer |  | Commercial |  | Total
Balance at beginning of period | $ | 356 |  |  | $ | 10,446 |  |  | $ | 10,149 |  |  | $ | 20,951 |  |  | $ | 328 |  |  | $ | 12,426 |  |  | $ | 9,358 |  |  | $ | 22,112 |
Provision for (recovery of) loan losses | (20 | ) |  | (609 | ) |  | 629 |  |  | — |  |  | 27 |  |  | (553 | ) |  | 526 |  |  | — |
Charge-offs | — |  |  | (155 | ) |  | (67 | ) |  | (222 | ) |  | — |  |  | (306 | ) |  | (543 | ) |  | (849 | )
Recoveries | — |  |  | 131 |  |  | 126 |  |  | 257 |  |  | — |  |  | 503 |  |  | 211 |  |  | 714 |
Balance at end of period | $ | 336 |  |  | $ | 9,813 |  |  | $ | 10,837 |  |  | $ | 20,986 |  |  | $ | 355 |  |  | $ | 12,070 |  |  | $ | 9,552 |  |  | $ | 21,977 |
| Six Months Ended December 31, 2016 |  | Six Months Ended December 31, 2015
| PCI |  | Retail Consumer |  | Commercial |  | Total |  | PCI |  | Retail Consumer |  | Commercial |  | Total
Balance at beginning of period | $ | 361 |  |  | $ | 11,549 |  |  | $ | 9,382 |  |  | $ | 21,292 |  |  | $ | 401 |  |  | $ | 12,575 |  |  | $ | 9,398 |  |  | $ | 22,374 |
Provision for (recovery of) loan losses | (25 | ) |  | (1,505 | ) |  | 1,530 |  |  | — |  |  | (46 | ) |  | (480 | ) |  | 526 |  |  | — |
Charge-offs | — |  |  | (574 | ) |  | (675 | ) |  | (1,249 | ) |  | — |  |  | (775 | ) |  | (877 | ) |  | (1,652 | )
Recoveries | — |  |  | 343 |  |  | 600 |  |  | 943 |  |  | — |  |  | 750 |  |  | 505 |  |  | 1,255 |
Balance at end of period | $ | 336 |  |  | $ | 9,813 |  |  | $ | 10,837 |  |  | $ | 20,986 |  |  | $ | 355 |  |  | $ | 12,070 |  |  | $ | 9,552 |  |  | $ | 21,977 |
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
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family | $ | 16 |  |  | $ | 343 |  |  | $ | 5,097 |  |  | $ | 5,456 |  |  | $ | 5,184 |  |  | $ | 10,980 |  |  | $ | 591,954 |  |  | $ | 608,118 |
HELOCs - originated | — |  |  | 9 |  |  | 1,714 |  |  | 1,723 |  |  | 283 |  |  | 14 |  |  | 156,318 |  |  | 156,615 |
HELOCs - purchased | — |  |  | — |  |  | 694 |  |  | 694 |  |  | — |  |  | — |  |  | 173,511 |  |  | 173,511 |
Construction and land/lots | — |  |  | — |  |  | 959 |  |  | 959 |  |  | 536 |  |  | 659 |  |  | 41,433 |  |  | 42,628 |
Indirect auto finance | — |  |  | — |  |  | 942 |  |  | 942 |  |  | — |  |  | 31 |  |  | 129,101 |  |  | 129,132 |
Consumer | — |  |  | 10 |  |  | 45 |  |  | 55 |  |  | 6 |  |  | 10 |  |  | 5,836 |  |  | 5,852 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 290 |  |  | 135 |  |  | 6,471 |  |  | 6,896 |  |  | 16,521 |  |  | 5,928 |  |  | 508,872 |  |  | 531,321 |
Construction and development | 12 |  |  | — |  |  | 2,629 |  |  | 2,641 |  |  | 2,781 |  |  | 2,083 |  |  | 124,506 |  |  | 129,370 |
Commercial and industrial | 18 |  |  | 3 |  |  | 949 |  |  | 970 |  |  | 3,118 |  |  | 2,726 |  |  | 71,508 |  |  | 77,352 |
Municipal leases | — |  |  | — |  |  | 650 |  |  | 650 |  |  | — |  |  | 294 |  |  | 101,436 |  |  | 101,730 |
Total | $ | 336 |  |  | $ | 500 |  |  | $ | 20,150 |  |  | $ | 20,986 |  |  | $ | 28,429 |  |  | $ | 22,725 |  |  | $ | 1,904,475 |  |  | $ | 1,955,629 |
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family | $ | 23 |  |  | $ | 187 |  |  | $ | 6,385 |  |  | $ | 6,595 |  |  | $ | 7,038 |  |  | $ | 12,411 |  |  | $ | 604,252 |  |  | $ | 623,701 |
HELOCs - originated | — |  |  | 288 |  |  | 1,709 |  |  | 1,997 |  |  | 278 |  |  | 1,145 |  |  | 161,870 |  |  | 163,293 |
HELOCs - purchased | — |  |  | — |  |  | 558 |  |  | 558 |  |  | — |  |  | — |  |  | 144,377 |  |  | 144,377 |
Construction and land/lots | — |  |  | 198 |  |  | 1,146 |  |  | 1,344 |  |  | 574 |  |  | 392 |  |  | 37,136 |  |  | 38,102 |
Indirect auto finance | — |  |  | — |  |  | 1,016 |  |  | 1,016 |  |  | — |  |  | — |  |  | 108,478 |  |  | 108,478 |
Consumer | — |  |  | 10 |  |  | 51 |  |  | 61 |  |  | 9 |  |  | — |  |  | 4,626 |  |  | 4,635 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 288 |  |  | — |  |  | 6,142 |  |  | 6,430 |  |  | 21,323 |  |  | 5,376 |  |  | 459,862 |  |  | 486,561 |
Construction and development | 17 |  |  | — |  |  | 1,891 |  |  | 1,908 |  |  | 3,147 |  |  | 1,789 |  |  | 81,904 |  |  | 86,840 |
Commercial and industrial | 33 |  |  | 3 |  |  | 685 |  |  | 721 |  |  | 3,595 |  |  | 2,927 |  |  | 66,767 |  |  | 73,289 |
Municipal leases | — |  |  | — |  |  | 662 |  |  | 662 |  |  | — |  |  | 305 |  |  | 102,878 |  |  | 103,183 |
Total | $ | 361 |  |  | $ | 686 |  |  | $ | 20,245 |  |  | $ | 21,292 |  |  | $ | 35,964 |  |  | $ | 24,345 |  |  | $ | 1,772,150 |  |  | $ | 1,832,459 |
Loans acquired from acquisitions are initially excluded from the allowance for loan losses in accordance with the acquisition method of accounting for business combinations. The Company records these loans at fair value, which includes a credit discount, therefore, no allowance for loan losses are established for these acquired loans at acquisition. A provision for loan losses is recorded for any further deterioration in these acquired loans subsequent to the acquisition. The Company's impaired loans and the related allowance, by segment and class, at the dates indicated follows:
| Total Impaired Loans
| Unpaid Principal Balance |  | Recorded Investment With a Recorded Allowance |  | Recorded Investment With No Recorded Allowance |  | Total |  | Related Recorded Allowance
December 31, 2016 |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |
One-to-four family | $ | 29,018 |  |  | $ | 17,836 |  |  | $ | 7,904 |  |  | $ | 25,740 |  |  | $ | 841 |
HELOCs - originated | 3,504 |  |  | 1,986 |  |  | 311 |  |  | 2,297 |  |  | 42 |
Construction and land/lots | 3,128 |  |  | 1,076 |  |  | 765 |  |  | 1,841 |  |  | 66 |
Indirect auto finance | 196 |  |  | 145 |  |  | 31 |  |  | 176 |  |  | 2 |
Consumer | 568 |  |  | 14 |  |  | 23 |  |  | 37 |  |  | 10 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 8,576 |  |  | 4,086 |  |  | 3,638 |  |  | 7,724 |  |  | 152 |
Construction and development | 3,847 |  |  | 1,089 |  |  | 1,759 |  |  | 2,848 |  |  | 13 |
Commercial and industrial | 8,619 |  |  | 710 |  |  | 2,419 |  |  | 3,129 |  |  | 13 |
Municipal leases | 408 |  |  | 114 |  |  | 294 |  |  | 408 |  |  | 1 |
Total impaired loans | $ | 57,864 |  |  | $ | 27,056 |  |  | $ | 17,144 |  |  | $ | 44,200 |  |  | $ | 1,140 |
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family | $ | 29,053 |  |  | $ | 12,348 |  |  | $ | 13,375 |  |  | $ | 25,723 |  |  | $ | 281 |
HELOCs - originated | 4,486 |  |  | 1,999 |  |  | 1,178 |  |  | 3,177 |  |  | 305 |
Construction and land/lots | 2,890 |  |  | 764 |  |  | 693 |  |  | 1,457 |  |  | 209 |
Indirect auto finance | 45 |  |  | 20 |  |  | — |  |  | 20 |  |  | — |
Consumer | 514 |  |  | 9 |  |  | 13 |  |  | 22 |  |  | 10 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 7,433 |  |  | 857 |  |  | 5,776 |  |  | 6,633 |  |  | 13 |
Construction and development | 3,556 |  |  | 600 |  |  | 1,929 |  |  | 2,529 |  |  | 14 |
Commercial and industrial | 9,710 |  |  | 1,197 |  |  | 2,930 |  |  | 4,127 |  |  | 17 |
Municipal leases | 419 |  |  | 114 |  |  | 305 |  |  | 419 |  |  | 1 |
Total impaired loans | $ | 58,106 |  |  | $ | 17,908 |  |  | $ | 26,199 |  |  | $ | 44,107 |  |  | $ | 850 |
Impaired loans above excludes $68 at December 31, 2016 and $2,541 at June 30, 2016 in PCI loans due to the accretion of discounts established in accordance with the acquisition method of accounting for business combinations. At December 31, 2016, impaired loans with a recorded allowance increased $9,148 during the six months ended December 31, 2016 primarily due to the change in methodology of measuring impairment during the first quarter of 2017 from the collateral method to the present value of future cash flows method to better reflect the anticipated repayments of these loans. The table above includes $21,475 and $19,762, of impaired loans that were not individually evaluated at December 31, 2016 and June 30, 2016, respectively, because these loans did not meet the Company's threshold for individual impairment evaluation. The recorded allowance above includes $640 and $164 related to these loans that were not individually evaluated at December 31, 2016 and June 30, 2016, respectively. The Company's average recorded investment in impaired loans and interest income recognized on impaired loans for the three and six months ended December 31, 2016 and 2015 was as follows:
| Three Months Ended
| December 31, 2016 |  | December 31, 2015
| Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized
Retail consumer loans: |  |  |  |  |  |  |
One-to-four family | $ | 26,673 |  |  | $ | 283 |  |  | $ | 29,765 |  |  | $ | 382 |
HELOCs - originated | 2,544 |  |  | 33 |  |  | 3,485 |  |  | 50 |
Construction and land/lots | 1,594 |  |  | 38 |  |  | 1,940 |  |  | 38 |
Indirect auto finance | 134 |  |  | 1 |  |  | 7 |  |  | — |
Consumer | 32 |  |  | 5 |  |  | 80 |  |  | 6 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 7,673 |  |  | 63 |  |  | 8,919 |  |  | 40 |
Construction and development | 2,530 |  |  | 31 |  |  | 3,594 |  |  | 20 |
Commercial and industrial | 3,372 |  |  | 22 |  |  | 4,019 |  |  | 29 |
Municipal leases | 408 |  |  | — |  |  | 428 |  |  | 14 |
Total loans | $ | 44,960 |  |  | $ | 476 |  |  | $ | 52,237 |  |  | $ | 579 |
| Six Months Ended
| December 31, 2016 |  | December 31, 2015
| Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized
Retail consumer loans: |  |  |  |  |  |  |
One-to-four family | $ | 26,356 |  |  | $ | 585 |  |  | $ | 29,869 |  |  | $ | 782 |
HELOCs - originated | 2,755 |  |  | 65 |  |  | 3,942 |  |  | 100 |
Construction and land/lots | 1,548 |  |  | 75 |  |  | 2,033 |  |  | 67 |
Indirect auto finance | 96 |  |  | 3 |  |  | 3 |  |  | — |
Consumer | 29 |  |  | 10 |  |  | 66 |  |  | 15 |
Commercial loans: |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | 7,326 |  |  | 130 |  |  | 12,121 |  |  | 73 |
Construction and development | 2,530 |  |  | 49 |  |  | 4,947 |  |  | 40 |
Commercial and industrial | 3,624 |  |  | 58 |  |  | 3,463 |  |  | 61 |
Municipal leases | 412 |  |  | 12 |  |  | 413 |  |  | 24 |
Total loans | $ | 44,676 |  |  | $ | 987 |  |  | $ | 56,857 |  |  | $ | 1,162 |
A summary of changes in the accretable yield for PCI loans for the three and six months ended December 31, 2016 and 2015 was as follows:
| Three Months Ended
| December 31, 2016 |  | December 31, 2015
Accretable yield, beginning of period | $ | 8,339 |  |  | $ | 9,763 |
Reclass from nonaccretable yield (1) | 185 |  |  | 236 |
Other changes, net (2) | (282 | ) |  | 1,191 |
Interest income | (723 | ) |  | (1,226 | )
Accretable yield, end of period | $ | 7,519 |  |  | $ | 9,964 |
| Six Months Ended
| December 31, 2016 |  | December 31, 2015
Accretable yield, beginning of period | $ | 9,532 |  |  | $ | 11,096 |
Reclass from nonaccretable yield (1) | 1,072 |  |  | 602 |
Other changes, net (2) | (741 | ) |  | 1,080 |
Interest income | (2,344 | ) |  | (2,814 | )
Accretable yield, end of period | $ | 7,519 |  |  | $ | 9,964 |
______________________________________
(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.
For the three and six months ended December 31, 2016 and 2015, the following table presents a breakdown of the types of concessions made on TDRs by loan class:
| Three Months Ended December 31, 2016 |  | Three Months Ended December 31, 2015
| 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 | — |  |  | $ | — |  |  | $ | — |  |  | 2 |  |  | $ | 108 |  |  | $ | 110 |
Total | — |  |  | $ | — |  |  | $ | — |  |  | 2 |  |  | $ | 108 |  |  | $ | 110 |
Extended term: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family | 1 |  |  | $ | 20 |  |  | $ | 20 |  |  | 4 |  |  | $ | 92 |  |  | $ | 101 |
Construction and land/lots | 1 |  |  | 280 |  |  | 280 |  |  | — |  |  | — |  |  | — |
Total | 2 |  |  | $ | 300 |  |  | $ | 300 |  |  | 4 |  |  | $ | 92 |  |  | $ | 101 |
Other TDRs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family | 5 |  |  | $ | 168 |  |  | $ | 171 |  |  | 10 |  |  | $ | 1,430 |  |  | $ | 1,420 |
Construction and land/lots | 2 |  |  | 254 |  |  | 251 |  |  | — |  |  | — |  |  | — |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | — |  |  | — |  |  | — |  |  | 1 |  |  | 457 |  |  | 447 |
Construction and development | — |  |  | — |  |  | — |  |  | 1 |  |  | 250 |  |  | 253 |
Commercial & Industrial | 1 |  |  | 24 |  |  | 24 |  |  | 2 |  |  | 1,347 |  |  | 1,351 |
Total | 8 |  |  | $ | 446 |  |  | $ | 446 |  |  | 14 |  |  | $ | 3,484 |  |  | $ | 3,471 |
Total | 10 |  |  | $ | 746 |  |  | $ | 746 |  |  | 20 |  |  | $ | 3,684 |  |  | $ | 3,682 |
| Six Months Ended December 31, 2016 |  | Six Months Ended December 31, 2015
| 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 | — |  |  | $ | — |  |  | $ | — |  |  | 2 |  |  | $ | 108 |  |  | $ | 110 |
Total | — |  |  | $ | — |  |  | $ | — |  |  | 2 |  |  | $ | 108 |  |  | $ | 110 |
Extended term: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family | 3 |  |  | $ | 139 |  |  | $ | 137 |  |  | 4 |  |  | $ | 92 |  |  | $ | 101 |
HELOCs - originated | — |  |  | — |  |  | — |  |  | 1 |  |  | 14 |  |  | 13 |
Construction and land/lots | 1 |  |  | 280 |  |  | 280 |  |  |  |  |  |  |
Total | 4 |  |  | $ | 419 |  |  | $ | 417 |  |  | 5 |  |  | $ | 106 |  |  | $ | 114 |
Other TDRs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family | 8 |  |  | $ | 273 |  |  | $ | 275 |  |  | 16 |  |  | $ | 2,167 |  |  | $ | 1,969 |
HELOCs - originated | 1 |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |
Construction and land/lots | 2 |  |  | 254 |  |  | 251 |  |  | — |  |  | — |  |  | — |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | — |  |  | — |  |  | — |  |  | 1 |  |  | 457 |  |  | 447 |
Construction and development | — |  |  | — |  |  | — |  |  | 1 |  |  | 250 |  |  | 253 |
Commercial and industrial | 1 |  |  | 24 |  |  | 24 |  |  | 2 |  |  | 1,347 |  |  | 1,351 |
Total | 12 |  |  | $ | 554 |  |  | $ | 553 |  |  | 20 |  |  | $ | 4,221 |  |  | $ | 4,020 |
Total | 16 |  |  | $ | 973 |  |  | $ | 970 |  |  | 27 |  |  | $ | 4,435 |  |  | $ | 4,244 |
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 three and six months ended December 31, 2016 and 2015:
| Three Months Ended December 31, 2016 |  | Three Months Ended December 31, 2015
| Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
Below market interest rate: |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |
One-to-four family | — |  |  | $ | — |  |  | 1 |  |  | $ | 6 |
Total | — |  |  | $ | — |  |  | 1 |  |  | $ | 6 |
Extended payment terms: |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |
One-to-four family | — |  |  | $ | — |  |  | 1 |  |  | $ | 31 |
Total | — |  |  | $ | — |  |  | 1 |  |  | $ | 31 |
Other TDRs: |  |  |  |  |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |  |  |  |  |
One-to-four family | — |  |  | $ | — |  |  | 3 |  |  | $ | 330 |
HELOCs - originated | — |  |  | — |  |  | 2 |  |  | 16 |
Consumer | — |  |  | — |  |  | 1 |  |  | 1 |
Commercial: |  |  |  |  |  |  |
Commercial and industrial | 4 |  |  | 1,277 |  |  | — |  |  | — |
Total | 4 |  |  | $ | 1,277 |  |  | 6 |  |  | $ | 347 |
Total | 4 |  |  | $ | 1,277 |  |  | 8 |  |  | $ | 384 |
| Six Months Ended December 31, 2016 |  | Six Months Ended December 31, 2015
| Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
Below market interest rate: |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |
One-to-four family | — |  |  | $ | — |  |  | 1 |  |  | $ | 6 |
Total | — |  |  | $ | — |  |  | 1 |  |  | $ | 6 |
Extended payment terms: |  |  |  |  |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |
One-to-four family | — |  |  | $ | — |  |  | 1 |  |  | $ | 31 |
Total | — |  |  | $ | — |  |  | 1 |  |  | $ | 31 |
Other TDRs: |  |  |  |  |  |  |  |  |  |  |
Retail consumer: |  |  |  |  |  |  |  |  |  |  |
One-to-four family | — |  |  | $ | — |  |  | 3 |  |  | $ | 330 |
HELOCs - originated | — |  |  | — |  |  | 2 |  |  | 16 |
Consumer | — |  |  | — |  |  | 1 |  |  | 1 |
Commercial: |  |  |  |  |  |  |
Commercial and industrial | 4 |  |  | 1,277 |  |  | — |  |  | — |
Total | 4 |  |  | $ | 1,277 |  |  | 6 |  |  | $ | 347 |
Total | 4 |  |  | $ | 1,277 |  |  | 8 |  |  | $ | 384 |
Other TDRs include TDRs that have a below market interest rate and extended payment terms. The Company does not typically forgive principal when restructuring troubled debt. In the determination of the allowance for loan losses, management considers TDRs for all loan classes, and the subsequent nonperformance in accordance with their modified terms, by measuring impairment based on either the value of the loan's expected future cash flows discounted at the loan's original effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent.

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