XML 43 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8

Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 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

December 31, 2013 (dollars in thousands):

	Estimated Fair Value
	Level 1				Level 2				Level 3				Total
Available for Sale Securities
MBS:
U.S. government agencies	$	—			$	2,121			$	—			$	2,121
Private label residential	—				866				—				866
Mutual funds	943				—				—				943
Total	$	943			$	2,987			$	—			$	3,930

There were no transfers among Level 1, Level 2 and Level 3 during the three months ended December 31, 2013.

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

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 December 31, 2013, and the total losses resulting from these estimated fair value adjustments for the three months ended December 31, 2013 (dollars in thousands):

	Estimated Fair Value
	Level 1				Level 2				Level 3				Total Losses
Impaired loans:
Mortgage Loans:
One-to four-family	$	—			$	—			$	2,405			$	350
Multi-family	—				—				4,803				—
Commercial	—				—				11,289				295
Construction – speculative one- to- four-family	—				—				602				—
Land	—				—				4,298				93
Consumer loans:
Home equity and second mortgage	—				—				244				28
Total impaired loans (1)	—				—				23,641				766
MBS – held to maturity (2):
Private label residential	—				78				—				2
OREO and other repossessed items (3)	—				—				12,483				100
Total	$	—			$	78			$	36,124			$	868

_______________________

(1) The loss represents charge-offs on collateral dependent loans for estimated fair value adjustments based on the estimated fair value of the collateral. Fair value is the recorded investment less the related allowance.

(2) The loss represents OTTI credit-related charges on held to maturity MBS.

(3) The loss represents the results of 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, 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 items (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. Fair value is the recorded investment less the related allowance.

(2) The loss represents OTTI credit-related charges on held to maturity MBS.

(3) The loss represents the results of 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.

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 at the date indicated (dollars in thousands):

	December 31, 2013
	Estimated Fair Value				Valuation Technique(s)		Unobservable Input(s)		Range
Impaired loans	$	23,641			Market approach		Appraised value of underlying collateral less selling costs		NA
OREO and other repossessed assets	$	12,483			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

The estimated fair values of financial instruments were as follows as of December 31, 2013 and September 30, 2013 (dollars in thousands):

	December 31, 2013
					Fair Value Measurements Using:
	Recorded Amount				Total				Level 1				Level 2				Level 3
Financial Assets
Cash and cash equivalents	$	66,238			$	66,238			$	66,238			$	—			$	—
CDs held for investment	32,428				32,428				32,428				—				—
MBS and other investments	6,547				7,363				943				6,420				—
FHLB stock	5,401				5,401				5,401				—				—
Loans receivable, net	554,910				528,482				—				—				528,482
Loans held for sale	994				1,028				1,028				—				—
Accrued interest receivable	2,092				2,092				2,092				—				—
Financial Liabilities
Deposits:
Non-interest-bearing demand	$	98,585			$	98,585			$	98,585			$	—			$	—
Interest-bearing	502,898				504,090				337,120				—				166,970
Total deposits	601,483				602,675				435,705				—				166,970
FHLB advances	45,000				47,935				—				47,935				—
Accrued interest payable	314				314				314				—				—

	September 30, 2013
					Fair Value Measurements Using:
	Recorded Amount				Total				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				6,661				—
FHLB stock	5,452				5,452				5,452				—				—
Loans receivable, net	546,193				534,364				—				—				534,364
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				—				—

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