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Fair Value Measurements (Tables) | 9 Months Ended
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Jun. 30, 2014
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 June 30, 2014 (dollars in thousands):
| Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Available for Sale Securities |  |  |  |  |  |  |
MBS: |  |  |  |  |  |  |
U.S. government agencies | $ | — |  |  | $ | 1,967 |  |  | $ | — |  |  | $ | 1,967 |
Mutual funds | 961 |  |  | — |  |  | — |  |  | 961 |
Total | $ | 961 |  |  | $ | 1,967 |  |  | $ | — |  |  | $ | 2,928 |
There were no transfers among Level 1, Level 2 and Level 3 during the three and nine months ended June 30, 2014. 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 June 30, 2014, and the total losses resulting from these estimated fair value adjustments for the nine months ended June 30, 2014 (dollars in thousands):
| Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total Losses
Impaired loans: |  |  |  |  |  |  |
Mortgage Loans: |  |  |  |  |  |  |
One-to four-family | $ | — |  |  | $ | — |  |  | $ | 4,087 |  |  | $ | 979 |
Multi-family | — |  |  | — |  |  | 3,276 |  |  | — |
Commercial | — |  |  | — |  |  | 6,970 |  |  | 463 |
Land | — |  |  | — |  |  | 4,024 |  |  | 260 |
Consumer loans: |  |  |  |  |  |  |  |  |  |
Home equity and second mortgage | — |  |  | — |  |  | 292 |  |  | 28 |
Total impaired loans (1) | — |  |  | — |  |  | 18,649 |  |  | 1,730 |
MBS – held to maturity (2): |  |  |  |  |  |  |  |  |  |  |
Private label residential | — |  |  | 91 |  |  | — |  |  | 15 |
OREO and other repossessed items (3) | — |  |  | — |  |  | 11,172 |  |  | 478 |
Total | $ | — |  |  | $ | 91 |  |  | $ | 29,821 |  |  | $ | 2,223 |
_______________________
(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 as of June 30, 2014 (dollars in thousands):
| Estimated Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range
Impaired loans | $ | 18,649 |  |  | Market approach |  | Appraised value of underlying collateral less selling costs |  | NA
OREO and other repossessed assets | $ | 11,172 |  |  | 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 June 30, 2014 and September 30, 2013 (dollars in thousands):
| June 30, 2014
|  |  | Fair Value Measurements Using:
| Recorded Amount |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 63,967 |  |  | $ | 63,967 |  |  | $ | 63,967 |  |  | $ | — |  |  | $ | — |
CDs held for investment | 32,336 |  |  | 32,336 |  |  | 32,336 |  |  | — |  |  | — |
MBS and other investments | 8,345 |  |  | 9,213 |  |  | 961 |  |  | 8,212 |  |  | 40 |
FHLB stock | 5,299 |  |  | 5,299 |  |  | 5,299 |  |  | — |  |  | — |
Loans receivable, net | 556,194 |  |  | 544,485 |  |  | — |  |  | — |  |  | 544,485 |
Loans held for sale | 1,501 |  |  | 1,552 |  |  | 1,552 |  |  | — |  |  | — |
Accrued interest receivable | 1,922 |  |  | 1,922 |  |  | 1,922 |  |  | — |  |  | — |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest-bearing demand | $ | 92,995 |  |  | $ | 92,995 |  |  | $ | 92,995 |  |  | $ | — |  |  | $ | — |
Interest-bearing | 505,637 |  |  | 506,392 |  |  | 345,394 |  |  | — |  |  | 160,998 |
Total deposits | 598,632 |  |  | 599,387 |  |  | 438,389 |  |  | — |  |  | 160,998 |
FHLB advances | 45,000 |  |  | 47,702 |  |  | — |  |  | 47,702 |  |  | — |
Accrued interest payable | 294 |  |  | 294 |  |  | 294 |  |  | — |  |  | — |
| 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 |  |  | — |  |  | — |

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- 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 Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258 + Details
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- 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=36462937&loc=d3e19207-110258 + Details
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- 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 Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 Reference 2: 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=36462937&loc=d3e19207-110258 + Details
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- 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=36462937&loc=d3e19190-110258 + Details
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