XML 46 R49.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Fair Value Measurement (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2013
Fair Value Disclosures [Abstract] |
Fair Value, Assets Measured on Recurring Basis | The following table summarizes the balances of assets and liabilities measured at estimated fair value on a recurring basis at September 30, 2013 (dollars in thousands):
| Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Available for Sale Securities |  |  |  |  |  |  |
MBS: |  |  |  |  |  |  |
U.S. government agencies | $ | — |  |  | $ | 2,229 |  |  | $ | — |  |  | $ | 2,229 |
Private label residential | — |  |  | 914 |  |  | — |  |  | 914 |
Mutual funds | 958 |  |  | — |  |  | — |  |  | 958 |
Total | $ | 958 |  |  | $ | 3,143 |  |  | $ | — |  |  | $ | 4,101 |
There were no transfers among Level 1, Level 2 and Level 3 during the year ended September 30, 2013. The following table summarizes the balances of assets and liabilities measured at estimated fair value on a recurring basis at September 30, 2012 (dollars in thousands):
| Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Available for Sale Securities |  |  |  |  |  |  |
MBS: |  |  |  |  |  |  |
U.S. government agencies | $ | — |  |  | $ | 2,975 |  |  | $ | — |  |  | $ | 2,975 |
Private label residential | — |  |  | 957 |  |  | — |  |  | 957 |
Mutual funds | 1,013 |  |  | — |  |  | — |  |  | 1,013 |
Total | $ | 1,013 |  |  | $ | 3,932 |  |  | $ | — |  |  | $ | 4,945 |
Balances of Assets Measured at Estimated Fair Value, Nonrecurring Basis | The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at September 30, 2013, and the total losses resulting from these estimated fair value adjustments for the year ended September 30, 2013 (dollars in thousands):
| Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total Losses
Impaired loans: |  |  |  |  |  |  |
Mortgage Loans; |  |  |  |  |  |  |
One-to four-family | $ | — |  |  | $ | — |  |  | $ | 3,042 |  |  | $ | 769 |
Multi-family | — |  |  | — |  |  | 4,850 |  |  | — |
Commercial | — |  |  | — |  |  | 12,868 |  |  | 667 |
Construction – speculative one-to four-family | — |  |  | — |  |  | 599 |  |  | — |
Land | — |  |  | — |  |  | 969 |  |  | 2,307 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Home equity and second mortgage | — |  |  | — |  |  | 242 |  |  | 184 |
Total impaired loans (1) | — |  |  | — |  |  | 22,570 |  |  | 3,927 |
MBS – held to maturity (2): |  |  |  |  |  |  |  |  |  |  |
Private label residential | — |  |  | 83 |  |  | — |  |  | 45 |
OREO and other repossessed assets (3) | — |  |  | — |  |  | 11,720 |  |  | 2,064 |
Total | $ | — |  |  | $ | 83 |  |  | $ | 34,290 |  |  | $ | 6,036 |
_______________________
(1) | The loss represents charge-offs on collateral dependent loans for estimated fair value adjustments based on the estimated fair value of the collateral net of estimated costs to sell, if applicable.
(2) | The loss represents OTTI credit-related charges on held-to-maturity MBS.
(3) | The loss represents adjustments resulting from management’s periodic reviews of the recorded value to determine whether the property continues to be recorded at the lower of its recorded book value or estimated fair value, net of estimated costs to sell.
The following table summarizes the balances of assets and liabilities measured at estimated fair value on a non-recurring basis at September 30, 2012 and the total losses resulting from these estimated fair value adjustments for the year ended September 30, 2012 (dollars in thousands):
| Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total Losses
Impaired loans: |  |  |  |  |  |  |
Mortgage Loans; |  |  |  |  |  |  |
One-to four-family | $ | — |  |  | $ | — |  |  | $ | 3,094 |  |  | $ | 276 |
Multi-family | — |  |  | — |  |  | 6,168 |  |  | 14 |
Commercial | — |  |  | — |  |  | 8,929 |  |  | 1,215 |
Construction – custom and owner / builder | — |  |  | — |  |  | 86 |  |  | — |
Construction – speculative one-to four-family | — |  |  | — |  |  | 591 |  |  | — |
Land | — |  |  | — |  |  | 1,938 |  |  | 1,251 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Home equity and second mortgage | — |  |  | — |  |  | 265 |  |  | 232 |
Total impaired loans (1) | — |  |  | — |  |  | 21,071 |  |  | 2,988 |
MBS – held to maturity (2): |  |  |  |  |  |  |  |  |  |  |
Private label residential | — |  |  | 231 |  |  | — |  |  | 164 |
OREO and other repossessed assets (3) | — |  |  | — |  |  | 13,302 |  |  | 947 |
MSRs (4) | — |  |  | — |  |  | 2,011 |  |  | — |
Total | $ | — |  |  | $ | 231 |  |  | $ | 36,384 |  |  | $ | 4,099 |
_______________________
(1) | The loss represents charge-offs on collateral dependent loans for estimated fair value adjustments based on the estimated fair value of the collateral, net of estimated cost to sell, if applicable.
(2) | The loss represents OTTI credit-related charges on held-to-maturity MBS.
(3) | The loss represents adjustments resulting from management’s periodic reviews of the recorded value to determine whether the property continues to be recorded at the lower of its recorded book value or estimated fair value, net of estimated costs to sell.
(4) | The amount of impairment recognized is the amount, if any, by which the amortized cost of the rights exceed their estimated fair value. Impairment, if deemed temporary, is recognized through a valuation allowance to the extent that estimated fair value is less than the recorded amount.
Level 3 Fair Value Measurements, Nonrecurring Basis | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis as of September 30, 2013 (dollars in thousands):
| Estimated Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range
Impaired loans | $ | 22,570 |  |  | Market approach |  | Appraised value less selling costs |  | NA
OREO and other repossessed assets | $ | 11,720 |  |  | Market approach |  | Lower of appraised value or listing price less selling costs |  | NA
Balances of Assets and Liabilities Measured at Estimated Fair Value, Recurring Basis | he estimated fair values of financial instruments were as follows as of September 30, 2013 (dollars in thousands):
|  |  | Fair Value Measurements Using:
| Recorded Amount |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 94,496 |  |  | $ | 94,496 |  |  | $ | 94,496 |  |  | $ | — |  |  | $ | — |
CDs held for investment | 30,042 |  |  | 30,042 |  |  | 30,042 |  |  | — |  |  | — |
MBS and other investments | 6,838 |  |  | 7,634 |  |  | 973 |  | 6,676 |  | 6,661 |  |  | — |
FHLB stock | 5,452 |  |  | 5,452 |  |  | 5,452 |  |  | — |  |  | — |
Loans receivable, net | 546,193 |  |  | 514,616 |  |  | — |  |  | — |  |  | 514,616 |
Loans held for sale | 1,911 |  |  | 1,973 |  |  | 1,973 |  |  | — |  |  | — |
Accrued interest receivable | 1,972 |  |  | 1,972 |  |  | 1,972 |  |  | — |  |  | — |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing demand | $ | 87,657 |  |  | $ | 87,657 |  |  | $ | 87,657 |  |  | $ | — |  |  | $ | — |
Interest-bearing | 520,605 |  |  | 522,021 |  |  | 346,455 |  |  | — |  |  | 175,566 |
Total deposits | 608,262 |  |  | 609,678 |  |  | 434,112 |  |  | — |  |  | 175,566 |
FHLB advances | 45,000 |  |  | 48,445 |  |  | — |  |  | 48,445 |  |  | — |
Accrued interest payable | 320 |  |  | 320 |  |  | 320 |  |  | — |  |  | — |
The estimated fair values of financial instruments were as follows as of September 30, 2012 (dollars in thousands):
|  |  | Fair Value Measurements Using:
| Recorded Amount |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 96,668 |  |  | $ | 96,668 |  |  | $ | 96,668 |  |  | $ | — |  |  | $ | — |
CDs held for investment | 23,490 |  |  | 23,490 |  |  | 23,490 |  |  | — |  |  | — |
MBS and other investments | 8,284 |  |  | 8,577 |  |  | 1,043 |  | 6,676 |  | 7,534 |  |  | — |
FHLB stock | 5,655 |  |  | 5,655 |  |  | 5,655 |  |  | — |  |  | — |
Loans receivable, net | 537,053 |  |  | 502,147 |  |  | — |  |  | — |  |  | 502,147 |
Loans held for sale | 1,427 |  |  | 1,504 |  |  | 1,504 |  |  | — |  |  | — |
Accrued interest receivable | 2,183 |  |  | 2,183 |  |  | 2,183 |  |  | — |  |  | — |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing demand | $ | 75,296 |  |  | $ | 75,296 |  |  | $ | 75,296 |  |  | $ | — |  |  | $ | — |
Interest-bearing | 522,630 |  |  | 524,823 |  |  | 317,181 |  |  | — |  |  | 207,642 |
Total deposits | 597,926 |  |  | 600,119 |  |  | 392,477 |  |  | — |  |  | 207,642 |
FHLB advances | 45,000 |  |  | 51,115 |  |  | — |  |  | 51,115 |  |  | — |
Repurchase agreements | 855 |  |  | 855 |  |  | 855 |  |  | — |  |  | — |
Accrued interest payable | 404 |  |  | 404 |  |  | 404 |  |  | — |  |  | — |

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19296-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration