|
|
|
|
|
Delaware
|
42-1406262
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
Large accelerated filer☐
|
Accelerated filer☒
|
Non-accelerated filer☐
|
Smaller Reporting Company☐
|
Class:
|
Outstanding at July 27, 2016:
|
Common Stock, $.01 par value
|
8,524,142 Common Shares
|
Nonvoting Common Stock, $.01 par value
|
0 Common Shares
|
|
|
|
|
|
|
|
|
Item 1.
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||
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||
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Item 2.
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||
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Item 3.
|
||
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Item 4.
|
||
|
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Item 1.
|
||
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|
|
Item 1A.
|
||
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Item 2.
|
||
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Item 3.
|
||
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|
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Item 4.
|
||
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Item 5.
|
||
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|
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Item 6.
|
||
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|
|
|
Three Months Ended June 30,
|
|
Nine Months Ended June 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Interest and dividend income:
|
|
|
|
|
|
|
|
||||||||
Loans receivable, including fees
|
$
|
9,280
|
|
|
$
|
7,528
|
|
|
$
|
26,147
|
|
|
$
|
21,561
|
|
Mortgage-backed securities
|
3,777
|
|
|
3,055
|
|
|
12,258
|
|
|
10,798
|
|
||||
Other investments
|
7,706
|
|
|
4,671
|
|
|
21,262
|
|
|
12,885
|
|
||||
|
20,763
|
|
|
15,254
|
|
|
59,667
|
|
|
45,244
|
|
||||
Interest expense:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Deposits
|
136
|
|
|
159
|
|
|
434
|
|
|
563
|
|
||||
FHLB advances and other borrowings
|
708
|
|
|
434
|
|
|
1,821
|
|
|
1,164
|
|
||||
|
844
|
|
|
593
|
|
|
2,255
|
|
|
1,727
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net interest income
|
19,919
|
|
|
14,661
|
|
|
57,412
|
|
|
43,517
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Provision (recovery) for loan losses
|
2,098
|
|
|
700
|
|
|
4,057
|
|
|
1,341
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net interest income after provision for loan losses
|
17,821
|
|
|
13,961
|
|
|
53,355
|
|
|
42,176
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Non-interest income:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Tax product fees
|
3,424
|
|
|
—
|
|
|
23,062
|
|
|
—
|
|
||||
Card fees
|
18,779
|
|
|
13,854
|
|
|
52,614
|
|
|
40,607
|
|
||||
Loan fees
|
1,091
|
|
|
702
|
|
|
4,126
|
|
|
1,267
|
|
||||
Bank-owned life insurance
|
454
|
|
|
632
|
|
|
1,208
|
|
|
1,759
|
|
||||
Deposit fees
|
144
|
|
|
151
|
|
|
457
|
|
|
448
|
|
||||
Gain (loss) on sale of securities available for sale, net (Includes ($102) and ($52) reclassified from accumulated other comprehensive income (loss) for net gains (losses) on available for sale securities for the three and nine months ended June 30, 2016, respectively)
|
(102
|
)
|
|
51
|
|
|
(52
|
)
|
|
(1,191
|
)
|
||||
Gain (loss) on foreclosed real estate
|
—
|
|
|
1
|
|
|
—
|
|
|
29
|
|
||||
Other income (loss)
|
17
|
|
|
33
|
|
|
127
|
|
|
149
|
|
||||
Total non-interest income
|
23,807
|
|
|
15,424
|
|
|
81,542
|
|
|
43,068
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Non-interest expense:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Compensation and benefits
|
15,375
|
|
|
12,126
|
|
|
47,140
|
|
|
34,324
|
|
||||
Tax product
|
359
|
|
|
—
|
|
|
8,615
|
|
|
—
|
|
||||
Card processing
|
5,607
|
|
|
3,868
|
|
|
16,858
|
|
|
12,374
|
|
||||
Occupancy and equipment
|
3,413
|
|
|
2,866
|
|
|
10,451
|
|
|
8,304
|
|
||||
Legal and consulting
|
1,221
|
|
|
1,116
|
|
|
3,211
|
|
|
3,333
|
|
||||
Marketing
|
490
|
|
|
323
|
|
|
1,531
|
|
|
1,002
|
|
||||
Data processing
|
324
|
|
|
417
|
|
|
1,022
|
|
|
1,063
|
|
||||
Other expense
|
4,838
|
|
|
3,757
|
|
|
14,597
|
|
|
9,905
|
|
||||
Total non-interest expense
|
31,627
|
|
|
24,473
|
|
|
103,425
|
|
|
70,305
|
|
||||
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
Income before income tax expense
|
10,001
|
|
|
4,912
|
|
|
31,472
|
|
|
14,939
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Income tax expense (Includes ($37) and ($19) income tax expense reclassified from accumulated other comprehensive income (loss) for the three and nine months ended June 30, 2016, respectively)
|
1,128
|
|
|
272
|
|
|
4,258
|
|
|
1,523
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net income
|
$
|
8,873
|
|
|
$
|
4,640
|
|
|
$
|
27,214
|
|
|
$
|
13,416
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings per common share:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic
|
$
|
1.05
|
|
|
$
|
0.67
|
|
|
$
|
3.24
|
|
|
$
|
2.05
|
|
Diluted
|
$
|
1.04
|
|
|
$
|
0.66
|
|
|
$
|
3.22
|
|
|
$
|
2.03
|
|
|
Three Months Ended
June 30, |
|
Nine Months Ended
June 30, |
||||||||||||
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
||||
Net income
|
$
|
8,873
|
|
|
$
|
4,640
|
|
|
$
|
27,214
|
|
|
$
|
13,416
|
|
|
|
|
|
|
|
|
|
||||||||
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
||||
Change in net unrealized gain (loss) on securities
|
17,561
|
|
|
(16,660
|
)
|
|
36,397
|
|
|
(4,208
|
)
|
||||
Losses (gains) realized in net income
|
102
|
|
|
(51
|
)
|
|
52
|
|
|
1,191
|
|
||||
|
17,663
|
|
|
(16,711
|
)
|
|
36,449
|
|
|
(3,017
|
)
|
||||
Deferred income tax effect
|
6,399
|
|
|
(6,062
|
)
|
|
13,312
|
|
|
(1,038
|
)
|
||||
Total other comprehensive income (loss)
|
11,264
|
|
|
(10,649
|
)
|
|
23,137
|
|
|
(1,979
|
)
|
||||
Total comprehensive income (loss)
|
$
|
20,137
|
|
|
$
|
(6,009
|
)
|
|
$
|
50,351
|
|
|
$
|
11,437
|
|
|
Common Stock |
|
Additional Paid-in Capital |
|
Retained Earnings |
|
Accumulated
Other Comprehensive Income (Loss) |
|
Treasury Stock |
|
Total Stockholders’ Equity |
||||||||||||
Balance, September 30, 2014
|
$
|
62
|
|
|
$
|
95,079
|
|
|
$
|
83,797
|
|
|
$
|
(3,409
|
)
|
|
$
|
(727
|
)
|
|
$
|
174,802
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cash dividends declared on common stock ($0.39 per share)
|
—
|
|
|
—
|
|
|
(2,588
|
)
|
|
—
|
|
|
—
|
|
|
(2,588
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Issuance of common shares from the sales of equity securities
|
8
|
|
|
24,987
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
24,995
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Issuance of common shares due to issuance of stock options, restricted stock and ESOP
|
—
|
|
|
207
|
|
|
—
|
|
|
—
|
|
|
417
|
|
|
624
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net change in unrealized losses on securities, net of income taxes
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,979
|
)
|
|
—
|
|
|
(1,979
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income
|
—
|
|
|
—
|
|
|
13,416
|
|
|
—
|
|
|
—
|
|
|
13,416
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Balance, June 30, 2015
|
$
|
70
|
|
|
$
|
120,273
|
|
|
$
|
94,625
|
|
|
$
|
(5,388
|
)
|
|
$
|
(310
|
)
|
|
$
|
209,270
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Balance, September 30, 2015
|
$
|
82
|
|
|
$
|
170,749
|
|
|
$
|
98,359
|
|
|
$
|
2,455
|
|
|
$
|
(310
|
)
|
|
$
|
271,335
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cash dividends declared on common stock ($0.39 per share)
|
—
|
|
|
—
|
|
|
(3,281
|
)
|
|
—
|
|
|
—
|
|
|
(3,281
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Issuance of common shares from the sales of equity securities
|
2
|
|
|
11,499
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11,501
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Issuance of common shares due to issuance of stock options, restricted stock and ESOP
|
1
|
|
|
1,774
|
|
|
—
|
|
|
—
|
|
|
310
|
|
|
2,085
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Stock compensation
|
—
|
|
|
678
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
678
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net change in unrealized gains on securities, net of income taxes
|
—
|
|
|
—
|
|
|
—
|
|
|
23,137
|
|
|
—
|
|
|
23,136
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income
|
—
|
|
|
—
|
|
|
27,214
|
|
|
—
|
|
|
—
|
|
|
27,214
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Balance, June 30, 2016
|
$
|
85
|
|
|
$
|
184,700
|
|
|
$
|
122,292
|
|
|
$
|
25,592
|
|
|
$
|
—
|
|
|
$
|
332,669
|
|
|
Nine Months Ended June 30,
|
||||||
|
2016
|
|
2015
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
$
|
27,214
|
|
|
$
|
13,416
|
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
|
|
|
|
|
|
||
Depreciation, amortization and accretion, net
|
26,646
|
|
|
19,674
|
|
||
Provision (recovery) for loan losses
|
4,057
|
|
|
1,341
|
|
||
Provision (recovery) for deferred taxes
|
348
|
|
|
(2,424
|
)
|
||
(Gain) loss on other assets
|
23
|
|
|
(647
|
)
|
||
(Gain) loss on sale of securities available for sale, net
|
52
|
|
|
1,191
|
|
||
Capital lease obligations interest expense
|
(95
|
)
|
|
(99
|
)
|
||
Net change in accrued interest receivable
|
(4,559
|
)
|
|
(3,013
|
)
|
||
Change in bank-owned life insurance value
|
(1,208
|
)
|
|
(1,267
|
)
|
||
Net change in other assets
|
(3,745
|
)
|
|
2,658
|
|
||
Net change in accrued interest payable
|
65
|
|
|
(39
|
)
|
||
Net change in accrued expenses and other liabilities
|
627
|
|
|
11,714
|
|
||
Net cash provided by (used in) operating activities
|
49,425
|
|
|
42,505
|
|
||
|
|
|
|
||||
Cash flows from investing activities:
|
|
|
|
|
|
||
Purchase of securities available-for-sale
|
(474,281
|
)
|
|
(591,786
|
)
|
||
Proceeds from sales of securities available-for-sale
|
224,564
|
|
|
463,108
|
|
||
Proceeds from maturities and principal repayments of securities available-for-sale
|
83,487
|
|
|
90,786
|
|
||
Purchase of securities held to maturity
|
(252,108
|
)
|
|
(57,949
|
)
|
||
Proceeds from maturities and principal repayments of securities held to maturity
|
11,242
|
|
|
7,240
|
|
||
Purchase of bank owned life insurance
|
(10,000
|
)
|
|
(10,000
|
)
|
||
Proceeds from loan sales
|
88
|
|
|
5,496
|
|
||
Net change in loans receivable
|
(152,396
|
)
|
|
(91,294
|
)
|
||
Proceeds from sales of foreclosed real estate
|
—
|
|
|
34
|
|
||
Net cash paid for acquisition
|
—
|
|
|
(92,308
|
)
|
||
Federal Home Loan Bank stock purchases
|
(615,701
|
)
|
|
(371,364
|
)
|
||
Federal Home Loan Bank stock redemptions
|
614,800
|
|
|
368,760
|
|
||
Proceeds from the sale of premises and equipment
|
51
|
|
|
2,100
|
|
||
Purchase of premises and equipment
|
(5,536
|
)
|
|
(3,231
|
)
|
||
Net cash provided by (used in) investing activities
|
(575,790
|
)
|
|
(280,408
|
)
|
||
|
|
|
|
||||
Cash flows from financing activities:
|
|
|
|
|
|
||
Net change in checking, savings, and money market deposits
|
520,257
|
|
|
202,256
|
|
||
Net change in time deposits
|
9,165
|
|
|
(55,590
|
)
|
||
Net change in FHLB and other borrowings
|
100,000
|
|
|
—
|
|
||
Net change in federal funds
|
(103,000
|
)
|
|
56,000
|
|
||
Net change in securities sold under agreements to repurchase
|
(1,773
|
)
|
|
2,867
|
|
||
Principal payments on capital lease obligations
|
(95
|
)
|
|
(88
|
)
|
||
Cash dividends paid
|
(3,281
|
)
|
|
(2,588
|
)
|
||
Stock compensation
|
678
|
|
|
—
|
|
||
Proceeds from issuance of common stock
|
13,586
|
|
|
25,619
|
|
||
Net cash provided by (used in) financing activities
|
535,537
|
|
|
228,476
|
|
||
|
|
|
|
||||
Net change in cash and cash equivalents
|
9,172
|
|
|
(9,427
|
)
|
||
|
|
|
|
||||
Cash and cash equivalents at beginning of period
|
27,658
|
|
|
29,832
|
|
||
Cash and cash equivalents at end of period
|
$
|
36,830
|
|
|
$
|
20,405
|
|
|
|
|
|
||||
Supplemental disclosure of cash flow information
|
|
|
|
|
|
||
Cash paid during the period for:
|
|
|
|
|
|
||
Interest
|
$
|
2,190
|
|
|
$
|
1,767
|
|
Income taxes
|
5,204
|
|
|
4,002
|
|
||
Franchise taxes
|
74
|
|
|
78
|
|
||
Other taxes
|
78
|
|
|
47
|
|
||
|
|
|
|
||||
Supplemental schedule of non-cash investing activities:
|
|
|
|
|
|
||
Purchase of held-to-maturity securities accrued, not paid
|
$
|
20,884
|
|
|
$
|
—
|
|
Capital lease obligation
|
—
|
|
|
2,259
|
|
||
Securities transferred from available for sale to held to maturity
|
—
|
|
|
310
|
|
|
June 30, 2016
|
|
September 30, 2015
|
||||
|
(Dollars in Thousands)
|
||||||
1-4 Family Real Estate
|
$
|
150,461
|
|
|
$
|
125,021
|
|
Commercial and Multi-Family Real Estate
|
386,798
|
|
|
310,199
|
|
||
Agricultural Real Estate
|
64,130
|
|
|
64,316
|
|
||
Consumer
|
36,986
|
|
|
33,527
|
|
||
Commercial Operating
|
40,971
|
|
|
29,893
|
|
||
Agricultural Operating
|
40,435
|
|
|
43,626
|
|
||
Premium Finance
|
141,342
|
|
|
106,505
|
|
||
Total Loans Receivable
|
861,123
|
|
|
713,087
|
|
||
|
|
|
|
||||
Less:
|
|
|
|
|
|
||
Allowance for Loan Losses
|
(6,120
|
)
|
|
(6,255
|
)
|
||
Net Deferred Loan Origination Fees
|
(497
|
)
|
|
(577
|
)
|
||
Total Loans Receivable, Net
|
$
|
854,506
|
|
|
$
|
706,255
|
|
|
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
June 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Beginning balance
|
$
|
327
|
|
|
$
|
1,694
|
|
|
$
|
154
|
|
|
$
|
1,059
|
|
|
$
|
45
|
|
|
$
|
3,327
|
|
|
$
|
477
|
|
|
$
|
348
|
|
|
$
|
7,431
|
|
Provision (recovery) for loan losses
|
66
|
|
|
428
|
|
|
49
|
|
|
(243
|
)
|
|
281
|
|
|
1,436
|
|
|
95
|
|
|
(14
|
)
|
|
2,098
|
|
|||||||||
Charge offs
|
—
|
|
|
(95
|
)
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(3,253
|
)
|
|
(104
|
)
|
|
—
|
|
|
(3,453
|
)
|
|||||||||
Recoveries
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
43
|
|
|
—
|
|
|
44
|
|
|||||||||
Ending balance
|
$
|
393
|
|
|
$
|
2,027
|
|
|
$
|
203
|
|
|
$
|
816
|
|
|
$
|
326
|
|
|
$
|
1,510
|
|
|
$
|
511
|
|
|
$
|
334
|
|
|
$
|
6,120
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Nine Months Ended
June 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Beginning balance
|
$
|
278
|
|
|
$
|
1,187
|
|
|
$
|
163
|
|
|
$
|
20
|
|
|
$
|
28
|
|
|
$
|
3,537
|
|
|
$
|
293
|
|
|
$
|
749
|
|
|
$
|
6,255
|
|
Provision (recovery) for loan
losses |
115
|
|
|
1,225
|
|
|
40
|
|
|
796
|
|
|
298
|
|
|
1,226
|
|
|
772
|
|
|
(415
|
)
|
|
4,057
|
|
|||||||||
Charge offs
|
—
|
|
|
(385
|
)
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(3,253
|
)
|
|
(631
|
)
|
|
—
|
|
|
(4,270
|
)
|
|||||||||
Recoveries
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
77
|
|
|
—
|
|
|
78
|
|
|||||||||
Ending balance
|
$
|
393
|
|
|
$
|
2,027
|
|
|
$
|
203
|
|
|
$
|
816
|
|
|
$
|
326
|
|
|
$
|
1,510
|
|
|
$
|
511
|
|
|
$
|
334
|
|
|
$
|
6,120
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Ending balance: individually evaluated for impairment
|
31
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
31
|
|
|||||||||
Ending balance: collectively evaluated for impairment
|
362
|
|
|
2,027
|
|
|
203
|
|
|
816
|
|
|
326
|
|
|
1,510
|
|
|
511
|
|
|
334
|
|
|
6,089
|
|
|||||||||
Total
|
$
|
393
|
|
|
$
|
2,027
|
|
|
$
|
203
|
|
|
$
|
816
|
|
|
$
|
326
|
|
|
$
|
1,510
|
|
|
$
|
511
|
|
|
$
|
334
|
|
|
$
|
6,120
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Ending balance: individually
evaluated for impairment |
210
|
|
|
994
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,207
|
|
|||||||||
Ending balance: collectively
evaluated for impairment |
150,251
|
|
|
385,804
|
|
|
64,130
|
|
|
36,986
|
|
|
40,968
|
|
|
40,435
|
|
|
141,342
|
|
|
—
|
|
|
859,916
|
|
|||||||||
Total
|
$
|
150,461
|
|
|
$
|
386,798
|
|
|
$
|
64,130
|
|
|
$
|
36,986
|
|
|
$
|
40,971
|
|
|
$
|
40,435
|
|
|
$
|
141,342
|
|
|
$
|
—
|
|
|
$
|
861,123
|
|
|
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
June 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Beginning balance
|
$
|
522
|
|
|
$
|
1,218
|
|
|
$
|
265
|
|
|
$
|
78
|
|
|
$
|
101
|
|
|
$
|
667
|
|
|
$
|
168
|
|
|
$
|
2,697
|
|
|
$
|
5,716
|
|
Provision (recovery) for loan losses
|
8
|
|
|
34
|
|
|
164
|
|
|
5
|
|
|
9
|
|
|
1,940
|
|
|
100
|
|
|
(1,560
|
)
|
|
700
|
|
|||||||||
Charge offs
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(150
|
)
|
|
(96
|
)
|
|
—
|
|
|
(246
|
)
|
|||||||||
Recoveries
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
62
|
|
|
—
|
|
|
62
|
|
|||||||||
Ending balance
|
$
|
530
|
|
|
$
|
1,252
|
|
|
$
|
429
|
|
|
$
|
83
|
|
|
$
|
110
|
|
|
$
|
2,457
|
|
|
$
|
234
|
|
|
$
|
1,137
|
|
|
$
|
6,232
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Nine Months Ended
June 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Beginning balance
|
$
|
552
|
|
|
$
|
1,575
|
|
|
$
|
263
|
|
|
$
|
78
|
|
|
$
|
93
|
|
|
$
|
719
|
|
|
$
|
—
|
|
|
$
|
2,117
|
|
|
$
|
5,397
|
|
Provision (recovery) for loan
losses |
23
|
|
|
(115
|
)
|
|
166
|
|
|
5
|
|
|
14
|
|
|
1,888
|
|
|
340
|
|
|
(980
|
)
|
|
1,341
|
|
|||||||||
Charge offs
|
(45
|
)
|
|
(214
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(150
|
)
|
|
(194
|
)
|
|
—
|
|
|
(603
|
)
|
|||||||||
Recoveries
|
—
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
88
|
|
|
—
|
|
|
97
|
|
|||||||||
Ending balance
|
$
|
530
|
|
|
$
|
1,252
|
|
|
$
|
429
|
|
|
$
|
83
|
|
|
$
|
110
|
|
|
$
|
2,457
|
|
|
$
|
234
|
|
|
$
|
1,137
|
|
|
$
|
6,232
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Ending balance: individually
evaluated for impairment |
—
|
|
|
265
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,161
|
|
|
—
|
|
|
—
|
|
|
2,426
|
|
|||||||||
Ending balance: collectively
evaluated for impairment |
530
|
|
|
987
|
|
|
429
|
|
|
83
|
|
|
110
|
|
|
296
|
|
|
234
|
|
|
1,137
|
|
|
3,806
|
|
|||||||||
Total
|
$
|
530
|
|
|
$
|
1,252
|
|
|
$
|
429
|
|
|
$
|
83
|
|
|
$
|
110
|
|
|
$
|
2,457
|
|
|
$
|
234
|
|
|
$
|
1,137
|
|
|
$
|
6,232
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Ending balance: individually
evaluated for impairment |
124
|
|
|
1,397
|
|
|
—
|
|
|
—
|
|
|
13
|
|
|
5,869
|
|
|
—
|
|
|
—
|
|
|
7,403
|
|
|||||||||
Ending balance: collectively
evaluated for impairment |
118,592
|
|
|
277,513
|
|
|
64,173
|
|
|
32,968
|
|
|
29,991
|
|
|
35,642
|
|
|
91,740
|
|
|
—
|
|
|
650,619
|
|
|||||||||
Total
|
$
|
118,716
|
|
|
$
|
278,910
|
|
|
$
|
64,173
|
|
|
$
|
32,968
|
|
|
$
|
30,004
|
|
|
$
|
41,511
|
|
|
$
|
91,740
|
|
|
$
|
—
|
|
|
$
|
658,022
|
|
June 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
|
$
|
149,303
|
|
|
$
|
385,631
|
|
|
$
|
34,803
|
|
|
$
|
36,986
|
|
|
$
|
40,194
|
|
|
$
|
21,182
|
|
|
$
|
141,342
|
|
|
$
|
809,441
|
|
Watch
|
1,029
|
|
|
609
|
|
|
2,934
|
|
|
—
|
|
|
705
|
|
|
5,007
|
|
|
—
|
|
|
10,284
|
|
||||||||
Special Mention
|
21
|
|
|
—
|
|
|
25,765
|
|
|
—
|
|
|
—
|
|
|
5,204
|
|
|
—
|
|
|
30,990
|
|
||||||||
Substandard
|
108
|
|
|
558
|
|
|
628
|
|
|
—
|
|
|
72
|
|
|
9,042
|
|
|
—
|
|
|
10,408
|
|
||||||||
Doubtful
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
|
$
|
150,461
|
|
|
$
|
386,798
|
|
|
$
|
64,130
|
|
|
$
|
36,986
|
|
|
$
|
40,971
|
|
|
$
|
40,435
|
|
|
$
|
141,342
|
|
|
$
|
861,123
|
|
September 30, 2015
|
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
|
$
|
124,775
|
|
|
$
|
307,876
|
|
|
$
|
35,106
|
|
|
$
|
33,527
|
|
|
$
|
29,052
|
|
|
$
|
29,336
|
|
|
$
|
106,505
|
|
|
$
|
666,177
|
|
Watch
|
212
|
|
|
1,419
|
|
|
26,703
|
|
|
—
|
|
|
712
|
|
|
1,079
|
|
|
—
|
|
|
30,125
|
|
||||||||
Special Mention
|
10
|
|
|
—
|
|
|
877
|
|
|
—
|
|
|
—
|
|
|
4,014
|
|
|
—
|
|
|
4,901
|
|
||||||||
Substandard
|
24
|
|
|
904
|
|
|
1,630
|
|
|
—
|
|
|
129
|
|
|
9,197
|
|
|
—
|
|
|
11,884
|
|
||||||||
Doubtful
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
|
$
|
125,021
|
|
|
$
|
310,199
|
|
|
$
|
64,316
|
|
|
$
|
33,527
|
|
|
$
|
29,893
|
|
|
$
|
43,626
|
|
|
$
|
106,505
|
|
|
$
|
713,087
|
|
June 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
|
$
|
419
|
|
|
$
|
83
|
|
|
$
|
—
|
|
|
$
|
502
|
|
|
$
|
149,831
|
|
|
$
|
128
|
|
|
$
|
150,461
|
|
Commercial and Multi-Family Real Estate
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
386,285
|
|
|
513
|
|
|
386,798
|
|
|||||||
Agricultural Real Estate
|
2,385
|
|
|
—
|
|
|
—
|
|
|
2,385
|
|
|
61,745
|
|
|
—
|
|
|
64,130
|
|
|||||||
Consumer
|
19
|
|
|
17
|
|
|
53
|
|
|
89
|
|
|
36,897
|
|
|
—
|
|
|
36,986
|
|
|||||||
Commercial Operating
|
354
|
|
|
—
|
|
|
—
|
|
|
354
|
|
|
40,617
|
|
|
—
|
|
|
40,971
|
|
|||||||
Agricultural Operating
|
—
|
|
|
106
|
|
|
—
|
|
|
106
|
|
|
40,329
|
|
|
—
|
|
|
40,435
|
|
|||||||
Premium Finance
|
892
|
|
|
351
|
|
|
1,514
|
|
|
2,757
|
|
|
138,585
|
|
|
—
|
|
|
141,342
|
|
|||||||
Total
|
$
|
4,069
|
|
|
$
|
557
|
|
|
$
|
1,567
|
|
|
$
|
6,193
|
|
|
$
|
854,289
|
|
|
$
|
641
|
|
|
$
|
861,123
|
|
September 30, 2015
|
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
|
$
|
142
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
142
|
|
|
$
|
124,855
|
|
|
$
|
24
|
|
|
$
|
125,021
|
|
Commercial and Multi-Family Real Estate
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
309,295
|
|
|
904
|
|
|
310,199
|
|
|||||||
Agricultural Real Estate
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
64,316
|
|
|
—
|
|
|
64,316
|
|
|||||||
Consumer
|
152
|
|
|
—
|
|
|
13
|
|
|
165
|
|
|
33,362
|
|
|
—
|
|
|
33,527
|
|
|||||||
Commercial Operating
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
29,893
|
|
|
—
|
|
|
29,893
|
|
|||||||
Agricultural Operating
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
38,494
|
|
|
5,132
|
|
|
43,626
|
|
|||||||
Premium Finance
|
702
|
|
|
362
|
|
|
1,728
|
|
|
2,792
|
|
|
103,713
|
|
|
—
|
|
|
106,505
|
|
|||||||
Total
|
$
|
996
|
|
|
$
|
362
|
|
|
$
|
1,741
|
|
|
$
|
3,099
|
|
|
$
|
703,928
|
|
|
$
|
6,060
|
|
|
$
|
713,087
|
|
|
Recorded
Balance |
|
Unpaid Principal
Balance |
|
Specific
Allowance |
||||||
June 30, 2016
|
(Dollars in Thousands)
|
||||||||||
Loans without a specific valuation allowance
|
|
|
|
|
|
||||||
1-4 Family Real Estate
|
$
|
102
|
|
|
$
|
102
|
|
|
$
|
—
|
|
Commercial and Multi-Family Real Estate
|
994
|
|
|
1,379
|
|
|
—
|
|
|||
Commercial Operating
|
3
|
|
|
3
|
|
|
—
|
|
|||
Total
|
$
|
1,099
|
|
|
$
|
1,484
|
|
|
$
|
—
|
|
Loans with a specific valuation allowance
|
|
|
|
|
|
|
|
|
|||
Commercial and Multi-Family Real Estate
|
$
|
108
|
|
|
$
|
108
|
|
|
$
|
31
|
|
Total
|
$
|
108
|
|
|
$
|
108
|
|
|
$
|
31
|
|
|
Recorded
Balance |
|
Unpaid Principal
Balance |
|
Specific
Allowance |
||||||
September 30, 2015
|
(Dollars in Thousands)
|
||||||||||
Loans without a specific valuation allowance
|
|
|
|
|
|
||||||
1-4 Family Real Estate
|
$
|
121
|
|
|
$
|
121
|
|
|
$
|
—
|
|
Commercial and Multi-Family Real Estate
|
446
|
|
|
446
|
|
|
—
|
|
|||
Commercial Operating
|
11
|
|
|
11
|
|
|
—
|
|
|||
Total
|
$
|
578
|
|
|
$
|
578
|
|
|
$
|
—
|
|
Loans with a specific valuation allowance
|
|
|
|
|
|
|
|
|
|||
Commercial and Multi-Family Real Estate
|
$
|
904
|
|
|
$
|
904
|
|
|
$
|
241
|
|
Agricultural Operating
|
5,132
|
|
|
5,282
|
|
|
3,252
|
|
|||
Total
|
$
|
6,036
|
|
|
$
|
6,186
|
|
|
$
|
3,493
|
|
|
Three Months Ended June 30,
|
|
Nine Months Ended June 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
Average
Recorded Investment |
|
Average
Recorded Investment |
|
Average
Recorded Investment |
|
Average
Recorded Investment |
||||||||
|
(Dollars in Thousands)
|
||||||||||||||
1-4 Family Real Estate
|
$
|
146
|
|
|
$
|
162
|
|
|
$
|
127
|
|
|
$
|
276
|
|
Commercial and Multi-Family Real Estate
|
1,059
|
|
|
1,406
|
|
|
1,221
|
|
|
2,358
|
|
||||
Agricultural Real Estate
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Consumer
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
||||
Commercial Operating
|
5
|
|
|
15
|
|
|
8
|
|
|
18
|
|
||||
Agricultural Operating
|
2,280
|
|
|
6,046
|
|
|
3,891
|
|
|
2,871
|
|
||||
Premium Finance
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Total
|
$
|
3,490
|
|
|
$
|
7,630
|
|
|
$
|
5,247
|
|
|
$
|
5,523
|
|
Three Months Ended June 30,
|
2016
|
|
|
2015
|
|
||
(Dollars in Thousands, Except Share and Per Share Data)
|
|
|
|
||||
Earnings
|
|
|
|
||||
Net Income
|
$
|
8,873
|
|
|
$
|
4,640
|
|
|
|
|
|
||||
Basic EPS
|
|
|
|
|
|
||
Weighted average common shares outstanding
|
8,512,043
|
|
|
6,942,486
|
|
||
Less weighted average nonvested shares
|
29,723
|
|
|
3,922
|
|
||
Weighted average common shares outstanding
|
8,482,320
|
|
|
6,938,564
|
|
||
|
|
|
|
||||
Earnings Per Common Share
|
|
|
|
|
|
||
Basic
|
$
|
1.05
|
|
|
$
|
0.67
|
|
|
|
|
|
||||
Diluted EPS
|
|
|
|
|
|
||
Weighted average common shares outstanding for basic earnings per common share
|
8,482,320
|
|
|
6,938,564
|
|
||
Add dilutive effect of assumed exercises of stock options, net of tax benefits
|
65,696
|
|
|
74,060
|
|
||
Weighted average common and dilutive potential common shares outstanding
|
8,548,016
|
|
|
7,012,624
|
|
||
|
|
|
|
||||
Earnings Per Common Share
|
|
|
|
|
|
||
Diluted
|
$
|
1.04
|
|
|
$
|
0.66
|
|
Nine Months Ended June 30,
|
2016
|
|
|
2015
|
|
||
(Dollars in Thousands, Except Share and Per Share Data)
|
|
|
|
||||
Earnings
|
|
|
|
||||
Net Income
|
$
|
27,214
|
|
|
$
|
13,416
|
|
|
|
|
|
||||
Basic EPS
|
|
|
|
|
|
||
Weighted average common shares outstanding
|
8,416,724
|
|
|
6,555,415
|
|
||
Less weighted average nonvested shares
|
28,849
|
|
|
4,193
|
|
||
Weighted average common shares outstanding
|
8,387,875
|
|
|
6,551,222
|
|
||
|
|
|
|
||||
Earnings Per Common Share
|
|
|
|
|
|
||
Basic
|
$
|
3.24
|
|
|
$
|
2.05
|
|
|
|
|
|
||||
Diluted EPS
|
|
|
|
|
|
||
Weighted average common shares outstanding for basic earnings per common share
|
8,387,875
|
|
|
6,551,222
|
|
||
Add dilutive effect of assumed exercises of stock options, net of tax benefits
|
64,324
|
|
|
65,228
|
|
||
Weighted average common and dilutive potential common shares outstanding
|
8,452,199
|
|
|
6,616,450
|
|
||
|
|
|
|
||||
Earnings Per Common Share
|
|
|
|
|
|
||
Diluted
|
$
|
3.22
|
|
|
$
|
2.03
|
|
Available For Sale
|
|
|
GROSS
|
|
|
GROSS
|
|
|
|
||||||
At June 30, 2016
|
AMORTIZED
COST |
|
|
UNREALIZED
GAINS |
|
|
UNREALIZED
(LOSSES) |
|
|
FAIR
VALUE |
|
||||
|
(Dollars in Thousands)
|
||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
||||||||
Trust preferred securities
|
$
|
14,934
|
|
|
$
|
—
|
|
|
$
|
(2,746
|
)
|
|
$
|
12,188
|
|
Small business administration securities
|
81,786
|
|
|
2,318
|
|
|
—
|
|
|
84,104
|
|
||||
Non-bank qualified obligations of states and political subdivisions
|
663,861
|
|
|
36,314
|
|
|
(135
|
)
|
|
700,040
|
|
||||
Asset-backed securities
|
66,955
|
|
|
70
|
|
|
(1,002
|
)
|
|
66,023
|
|
||||
Mortgage-backed securities
|
576,436
|
|
|
3,573
|
|
|
(679
|
)
|
|
579,330
|
|
||||
Total debt securities
|
1,403,972
|
|
|
42,275
|
|
|
(4,562
|
)
|
|
1,441,685
|
|
||||
Common equities and mutual funds
|
761
|
|
|
356
|
|
|
(4
|
)
|
|
1,113
|
|
||||
Total available for sale securities
|
$
|
1,404,733
|
|
|
$
|
42,631
|
|
|
$
|
(4,566
|
)
|
|
$
|
1,442,798
|
|
At September 30, 2015
|
AMORTIZED
COST |
|
|
GROSS
UNREALIZED GAINS |
|
|
GROSS
UNREALIZED (LOSSES) |
|
|
FAIR
VALUE |
|
||||
|
(Dollars in Thousands)
|
||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
||||||||
Trust preferred and corporate securities
|
$
|
16,199
|
|
|
$
|
8
|
|
|
$
|
(2,263
|
)
|
|
$
|
13,944
|
|
Small business administration securities
|
54,493
|
|
|
1,563
|
|
|
—
|
|
|
56,056
|
|
||||
Non-bank qualified obligations of states and political subdivisions
|
603,165
|
|
|
7,240
|
|
|
(1,815
|
)
|
|
608,590
|
|
||||
Mortgage-backed securities
|
580,165
|
|
|
1,283
|
|
|
(4,865
|
)
|
|
576,583
|
|
||||
Total debt securities
|
1,254,022
|
|
|
10,094
|
|
|
(8,943
|
)
|
|
1,255,173
|
|
||||
Common equities and mutual funds
|
639
|
|
|
283
|
|
|
(8
|
)
|
|
914
|
|
||||
Total available for sale securities
|
$
|
1,254,661
|
|
|
$
|
10,377
|
|
|
$
|
(8,951
|
)
|
|
$
|
1,256,087
|
|
Held to Maturity
|
|
|
GROSS
|
|
|
GROSS
|
|
|
|
||||||
At June 30, 2016
|
AMORTIZED
COST |
|
|
UNREALIZED
GAINS |
|
|
UNREALIZED
(LOSSES) |
|
|
FAIR
VALUE |
|
||||
|
(Dollars in Thousands)
|
||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
||||||||
Obligations of states and political subdivisions
|
$
|
20,644
|
|
|
$
|
434
|
|
|
$
|
(22
|
)
|
|
$
|
21,056
|
|
Non-bank qualified obligations of states and political subdivisions
|
444,807
|
|
|
12,529
|
|
|
—
|
|
|
457,336
|
|
||||
Mortgage-backed securities
|
139,138
|
|
|
620
|
|
|
—
|
|
|
139,758
|
|
||||
Total held to maturity securities
|
$
|
604,589
|
|
|
$
|
13,583
|
|
|
$
|
(22
|
)
|
|
$
|
618,150
|
|
At September 30, 2015
|
AMORTIZED
COST |
|
|
GROSS
UNREALIZED GAINS |
|
|
GROSS
UNREALIZED (LOSSES) |
|
|
FAIR
VALUE |
|
||||
|
(Dollars in Thousands)
|
||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
||||||||
Obligations of states and political subdivisions
|
$
|
19,540
|
|
|
$
|
60
|
|
|
$
|
(187
|
)
|
|
$
|
19,413
|
|
Non-bank qualified obligations of states and political subdivisions
|
259,627
|
|
|
2,122
|
|
|
(419
|
)
|
|
261,330
|
|
||||
Mortgage-backed securities
|
66,577
|
|
|
—
|
|
|
(473
|
)
|
|
66,104
|
|
||||
Total held to maturity securities
|
$
|
345,744
|
|
|
$
|
2,182
|
|
|
$
|
(1,079
|
)
|
|
$
|
346,847
|
|
At June 30, 2016
|
|
|
|
|
|
|
|
|
|
||||||
Issuer
(1)
|
Amortized Cost
|
|
Fair Value
|
|
Unrealized
Gain (Loss) |
|
S&P
Credit Rating |
|
Moody's
Credit Rating |
||||||
|
(Dollars in Thousands)
|
|
|
|
|
||||||||||
Key Corp. Capital I
|
$
|
4,987
|
|
|
$
|
4,011
|
|
|
$
|
(976
|
)
|
|
BB+
|
|
Baa2
|
Huntington Capital Trust II SE
|
4,980
|
|
|
3,834
|
|
|
(1,146
|
)
|
|
BB
|
|
Baa2
|
|||
PNC Capital Trust
|
4,967
|
|
|
4,343
|
|
|
(624
|
)
|
|
BBB-
|
|
Baa1
|
|||
Total
|
$
|
14,934
|
|
|
$
|
12,188
|
|
|
$
|
(2,746
|
)
|
|
|
|
|
|
(1)
|
Trust preferred securities are single-issuance. There are no known deferrals, defaults or excess subordination.
|
At September 30, 2015
|
|
|
|
|
|
|
|
|
|
||||||
Issuer
(1)
|
Amortized Cost
|
|
Fair Value
|
|
Unrealized
Gain (Loss) |
|
S&P
Credit Rating |
|
Moody's
Credit Rating |
||||||
|
(Dollars in Thousands)
|
|
|
|
|
||||||||||
Key Corp. Capital I
|
$
|
4,986
|
|
|
$
|
4,189
|
|
|
$
|
(797
|
)
|
|
BB+
|
|
Baa2
|
Huntington Capital Trust II SE
|
4,979
|
|
|
4,076
|
|
|
(903
|
)
|
|
BB
|
|
Baa2
|
|||
PNC Capital Trust
|
4,965
|
|
|
4,402
|
|
|
(563
|
)
|
|
BBB-
|
|
Baa1
|
|||
Total
|
$
|
14,930
|
|
|
$
|
12,667
|
|
|
$
|
(2,263
|
)
|
|
|
|
|
|
(1)
|
Trust preferred securities are single-issuance. There are no known deferrals, defaults or excess subordination
|
Available For Sale
|
LESS THAN 12 MONTHS
|
|
OVER 12 MONTHS
|
|
TOTAL
|
||||||||||||||||||
At June 30, 2016
|
Fair
Value |
|
Unrealized
(Losses) |
|
Fair
Value |
|
Unrealized
(Losses) |
|
Fair
Value |
|
Unrealized
(Losses) |
||||||||||||
|
(Dollars in Thousands)
|
||||||||||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Trust preferred securities
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
12,188
|
|
|
$
|
(2,746
|
)
|
|
$
|
12,188
|
|
|
$
|
(2,746
|
)
|
Non-bank qualified obligations of states and political subdivisions
|
—
|
|
|
—
|
|
|
12,018
|
|
|
(135
|
)
|
|
12,018
|
|
|
(135
|
)
|
||||||
Asset-backed securities
|
49,900
|
|
|
(1,002
|
)
|
|
—
|
|
|
—
|
|
|
49,900
|
|
|
(1,002
|
)
|
||||||
Mortgage-backed securities
|
—
|
|
|
—
|
|
|
128,968
|
|
|
(679
|
)
|
|
128,968
|
|
|
(679
|
)
|
||||||
Total debt securities
|
49,900
|
|
|
(1,002
|
)
|
|
153,174
|
|
|
(3,560
|
)
|
|
203,074
|
|
|
(4,562
|
)
|
||||||
Common equities and mutual funds
|
—
|
|
|
—
|
|
|
124
|
|
|
(4
|
)
|
|
124
|
|
|
(4
|
)
|
||||||
Total available for sale securities
|
$
|
49,900
|
|
|
$
|
(1,002
|
)
|
|
$
|
153,298
|
|
|
$
|
(3,564
|
)
|
|
$
|
203,198
|
|
|
$
|
(4,566
|
)
|
|
LESS THAN 12 MONTHS
|
|
OVER 12 MONTHS
|
|
TOTAL
|
||||||||||||||||||
At September 30, 2015
|
Fair
Value |
|
Unrealized
(Losses) |
|
Fair
Value |
|
Unrealized
(Losses) |
|
Fair
Value |
|
Unrealized
(Losses) |
||||||||||||
|
(Dollars in Thousands)
|
||||||||||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Trust preferred and corporate securities
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
12,667
|
|
|
$
|
(2,263
|
)
|
|
$
|
12,667
|
|
|
$
|
(2,263
|
)
|
Non-bank qualified obligations of states and political subdivisions
|
97,006
|
|
|
(860
|
)
|
|
42,583
|
|
|
(955
|
)
|
|
139,589
|
|
|
(1,815
|
)
|
||||||
Mortgage-backed securities
|
448,988
|
|
|
(4,301
|
)
|
|
48,079
|
|
|
(564
|
)
|
|
497,067
|
|
|
(4,865
|
)
|
||||||
Total debt securities
|
545,994
|
|
|
(5,161
|
)
|
|
103,329
|
|
|
(3,782
|
)
|
|
649,323
|
|
|
(8,943
|
)
|
||||||
Common equities and mutual funds
|
—
|
|
|
—
|
|
|
121
|
|
|
(8
|
)
|
|
121
|
|
|
(8
|
)
|
||||||
Total available for sale securities
|
$
|
545,994
|
|
|
$
|
(5,161
|
)
|
|
$
|
103,450
|
|
|
$
|
(3,790
|
)
|
|
$
|
649,444
|
|
|
$
|
(8,951
|
)
|
Held To Maturity
|
LESS THAN 12 MONTHS
|
|
OVER 12 MONTHS
|
|
TOTAL
|
||||||||||||||||||
At June 30, 2016
|
Fair
Value |
|
Unrealized
(Losses) |
|
Fair
Value |
|
Unrealized
(Losses) |
|
Fair
Value |
|
Unrealized
(Losses) |
||||||||||||
|
(Dollars in Thousands)
|
||||||||||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Obligations of states and political subdivisions
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,266
|
|
|
$
|
(22
|
)
|
|
$
|
2,266
|
|
|
$
|
(22
|
)
|
Total held to maturity securities
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,266
|
|
|
$
|
(22
|
)
|
|
$
|
2,266
|
|
|
$
|
(22
|
)
|
|
LESS THAN 12 MONTHS
|
|
OVER 12 MONTHS
|
|
TOTAL
|
||||||||||||||||||
At September 30, 2015
|
Fair
Value |
|
Unrealized
(Losses) |
|
Fair
Value |
|
Unrealized
(Losses) |
|
Fair Value
|
|
Unrealized
(Losses) |
||||||||||||
|
(Dollars in Thousands)
|
||||||||||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Obligations of states and political subdivisions
|
$
|
5,528
|
|
|
$
|
(34
|
)
|
|
$
|
7,964
|
|
|
$
|
(153
|
)
|
|
$
|
13,492
|
|
|
$
|
(187
|
)
|
Non-bank qualified obligations of states and political subdivisions
|
78,663
|
|
|
(365
|
)
|
|
4,136
|
|
|
(54
|
)
|
|
82,799
|
|
|
(419
|
)
|
||||||
Mortgage-backed securities
|
5,509
|
|
|
(43
|
)
|
|
60,595
|
|
|
(430
|
)
|
|
66,104
|
|
|
(473
|
)
|
||||||
Total held to maturity securities
|
$
|
89,700
|
|
|
$
|
(442
|
)
|
|
$
|
72,695
|
|
|
$
|
(637
|
)
|
|
$
|
162,395
|
|
|
$
|
(1,079
|
)
|
Available For Sale
|
AMORTIZED
COST |
|
|
FAIR
VALUE |
|
||
|
|||||||
At June 30, 2016
|
(Dollars in Thousands)
|
||||||
|
|
|
|
||||
Due in one year or less
|
$
|
—
|
|
|
$
|
—
|
|
Due after one year through five years
|
13,606
|
|
|
14,077
|
|
||
Due after five years through ten years
|
400,021
|
|
|
421,303
|
|
||
Due after ten years
|
413,909
|
|
|
426,975
|
|
||
|
827,536
|
|
|
862,355
|
|
||
Mortgage-backed securities
|
576,436
|
|
|
579,330
|
|
||
Common equities and mutual funds
|
761
|
|
|
1,113
|
|
||
Total available for sale securities
|
$
|
1,404,733
|
|
|
$
|
1,442,798
|
|
|
AMORTIZED
COST |
|
|
FAIR
VALUE |
|
||
At September 30, 2015
|
(Dollars in Thousands)
|
||||||
|
|
|
|
||||
Due in one year or less
|
$
|
—
|
|
|
$
|
—
|
|
Due after one year through five years
|
1,174
|
|
|
1,207
|
|
||
Due after five years through ten years
|
370,087
|
|
|
376,394
|
|
||
Due after ten years
|
302,596
|
|
|
300,989
|
|
||
|
673,857
|
|
|
678,590
|
|
||
Mortgage-backed securities
|
580,165
|
|
|
576,583
|
|
||
Common equities and mutual funds
|
639
|
|
|
914
|
|
||
Total available for sale securities
|
$
|
1,254,661
|
|
|
$
|
1,256,087
|
|
Held To Maturity
|
AMORTIZED
COST |
|
|
FAIR
VALUE |
|
||
|
|||||||
At June 30, 2016
|
(Dollars in Thousands)
|
||||||
|
|
|
|
||||
Due in one year or less
|
$
|
231
|
|
|
$
|
231
|
|
Due after one year through five years
|
11,586
|
|
|
11,810
|
|
||
Due after five years through ten years
|
147,795
|
|
|
153,986
|
|
||
Due after ten years
|
305,839
|
|
|
312,365
|
|
||
|
465,451
|
|
|
478,392
|
|
||
Mortgage-backed securities
|
139,138
|
|
|
139,758
|
|
||
Total held to maturity securities
|
$
|
604,589
|
|
|
$
|
618,150
|
|
|
AMORTIZED
COST |
|
|
FAIR
VALUE |
|
||
At September 30, 2015
|
(Dollars in Thousands)
|
||||||
Due in one year or less
|
$
|
95
|
|
|
$
|
96
|
|
Due after one year through five years
|
8,411
|
|
|
8,430
|
|
||
Due after five years through ten years
|
140,145
|
|
|
140,505
|
|
||
Due after ten years
|
130,516
|
|
|
131,712
|
|
||
|
279,167
|
|
|
280,743
|
|
||
Mortgage-backed securities
|
66,577
|
|
|
66,104
|
|
||
Total held to maturity securities
|
$
|
345,744
|
|
|
$
|
346,847
|
|
|
Number
of Shares |
|
|
Weighted
Average Exercise Price |
|
|
Weighted
Average Remaining Contractual Term (Yrs) |
|
Aggregate
Intrinsic Value |
|
||
|
(Dollars in Thousands, Except Share and Per Share Data)
|
|||||||||||
Options outstanding, September 30, 2015
|
189,088
|
|
|
$
|
25.74
|
|
|
3.16
|
|
$
|
3,027
|
|
Granted
|
—
|
|
|
—
|
|
|
|
|
—
|
|
||
Exercised
|
(56,580
|
)
|
|
25.12
|
|
|
|
|
1,316
|
|
||
Forfeited or expired
|
—
|
|
|
—
|
|
|
|
|
—
|
|
||
Options outstanding, June 30, 2016
|
132,508
|
|
|
$
|
26.01
|
|
|
2.90
|
|
$
|
3,306
|
|
|
|
|
|
|
|
|
|
|||||
Options exercisable, June 30, 2016
|
132,508
|
|
|
$
|
26.01
|
|
|
2.90
|
|
$
|
3,306
|
|
|
Number
of Shares |
|
|
Weighted
Average Fair Value at Grant |
|
|
(Dollars in Thousands, Except Share and Per Share Data)
|
||||||
Nonvested shares outstanding, September 30, 2015
|
44,002
|
|
|
$
|
40.80
|
|
Granted
|
7,571
|
|
|
41.68
|
|
|
Vested
|
(26,085
|
)
|
|
40.52
|
|
|
Forfeited or expired
|
4,547
|
|
|
44.25
|
|
|
Nonvested shares outstanding, June 30, 2016
|
30,035
|
|
|
$
|
41.42
|
|
|
Payments
|
|
Banking
|
|
Corporate
Services/Other |
|
Total
|
||||||||
Three Months Ended June 30, 2016
|
|
|
|
|
|
|
|
||||||||
Interest income
|
$
|
2,579
|
|
|
$
|
9,759
|
|
|
$
|
8,425
|
|
|
$
|
20,763
|
|
Interest expense
|
44
|
|
|
344
|
|
|
456
|
|
|
844
|
|
||||
Net interest income (expense)
|
2,535
|
|
|
9,415
|
|
|
7,969
|
|
|
19,919
|
|
||||
Provision (recovery) for loan losses
|
1
|
|
|
2,097
|
|
|
—
|
|
|
2,098
|
|
||||
Non-interest income
|
22,160
|
|
|
1,296
|
|
|
351
|
|
|
23,807
|
|
||||
Non-interest expense
|
16,231
|
|
|
5,347
|
|
|
10,049
|
|
|
31,627
|
|
||||
Income (loss) before income tax expense (benefit)
|
8,463
|
|
|
3,267
|
|
|
(1,729
|
)
|
|
10,001
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Total assets
|
48,203
|
|
|
860,493
|
|
|
2,235,470
|
|
|
3,144,166
|
|
||||
Total deposits
|
1,908,961
|
|
|
277,995
|
|
|
—
|
|
|
2,186,956
|
|
|
Payments
|
|
Banking
|
|
Corporate
Services/Other |
|
Total
|
||||||||
Nine Months Ended June 30, 2016
|
|
|
|
|
|
|
|
||||||||
Interest income
|
$
|
7,176
|
|
|
$
|
27,559
|
|
|
$
|
24,932
|
|
|
$
|
59,667
|
|
Interest expense
|
138
|
|
|
913
|
|
|
1,204
|
|
|
2,255
|
|
||||
Net interest income (expense)
|
7,038
|
|
|
26,646
|
|
|
23,728
|
|
|
57,412
|
|
||||
Provision (recovery) for loan losses
|
1,034
|
|
|
3,023
|
|
|
—
|
|
|
4,057
|
|
||||
Non-interest income
|
77,103
|
|
|
3,251
|
|
|
1,188
|
|
|
81,542
|
|
||||
Non-interest expense
|
57,968
|
|
|
15,993
|
|
|
29,464
|
|
|
103,425
|
|
||||
Income (loss) before tax
|
25,139
|
|
|
10,881
|
|
|
(4,548
|
)
|
|
31,472
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Total assets
|
48,203
|
|
|
860,493
|
|
|
2,235,470
|
|
|
3,144,166
|
|
||||
Total deposits
|
1,908,961
|
|
|
277,995
|
|
|
—
|
|
|
2,186,956
|
|
|
Payments
|
|
Banking
|
|
Corporate
Services/Other |
|
Total
|
||||||||
Three Months Ended June 30, 2015
|
|
|
|
|
|
|
|
||||||||
Interest income
|
$
|
1,814
|
|
|
$
|
7,902
|
|
|
$
|
5,538
|
|
|
$
|
15,254
|
|
Interest expense
|
47
|
|
|
401
|
|
|
145
|
|
|
593
|
|
||||
Net interest income (expense)
|
1,767
|
|
|
7,501
|
|
|
5,393
|
|
|
14,661
|
|
||||
Provision (recovery) for loan losses
|
—
|
|
|
(436
|
)
|
|
1,136
|
|
|
700
|
|
||||
Non-interest income
|
13,808
|
|
|
870
|
|
|
746
|
|
|
15,424
|
|
||||
Non-interest expense
|
11,744
|
|
|
4,487
|
|
|
8,242
|
|
|
24,473
|
|
||||
Income (loss) before income tax expense (benefit)
|
3,831
|
|
|
4,320
|
|
|
(3,239
|
)
|
|
4,912
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Total assets
|
42,069
|
|
|
652,676
|
|
|
1,615,238
|
|
|
2,309,983
|
|
||||
Total deposits
|
1,294,757
|
|
|
218,377
|
|
|
73
|
|
|
1,513,207
|
|
|
Payments
|
|
Banking
|
|
Corporate
Services/Other |
|
Total
|
||||||||
Nine Months Ended June 30, 2015
|
|
|
|
|
|
|
|
||||||||
Interest income
|
$
|
5,460
|
|
|
$
|
22,852
|
|
|
$
|
16,932
|
|
|
$
|
45,244
|
|
Interest expense
|
138
|
|
|
1,064
|
|
|
525
|
|
|
1,727
|
|
||||
Net interest income (expense)
|
5,322
|
|
|
21,788
|
|
|
16,407
|
|
|
43,517
|
|
||||
Provision (recovery) for loan losses
|
—
|
|
|
205
|
|
|
1,136
|
|
|
1,341
|
|
||||
Non-interest income
|
40,468
|
|
|
2,497
|
|
|
103
|
|
|
43,068
|
|
||||
Non-interest expense
|
34,905
|
|
|
13,097
|
|
|
22,303
|
|
|
70,305
|
|
||||
Income (loss) before income tax expense (benefit)
|
10,885
|
|
|
10,983
|
|
|
(6,929
|
)
|
|
14,939
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Total assets
|
42,069
|
|
|
652,676
|
|
|
1,615,238
|
|
|
2,309,983
|
|
||||
Total deposits
|
1,294,757
|
|
|
218,377
|
|
|
73
|
|
|
1,513,207
|
|
|
Fair Value At June 30, 2016
|
||||||||||||||||||||||||||||||
|
Available For Sale
|
|
Held to Maturity
|
||||||||||||||||||||||||||||
(Dollars in Thousands)
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Trust preferred securities
|
$
|
12,188
|
|
|
$
|
—
|
|
|
$
|
12,188
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Small business administration securities
|
84,104
|
|
|
—
|
|
|
84,104
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Obligations of states and political subdivisions
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
21,056
|
|
|
—
|
|
|
21,056
|
|
|
—
|
|
||||||||
Non-bank qualified obligations of states and political subdivisions
|
700,040
|
|
|
—
|
|
|
700,040
|
|
|
—
|
|
|
457,336
|
|
|
—
|
|
|
457,336
|
|
|
—
|
|
||||||||
Asset-backed securities
|
66,023
|
|
|
—
|
|
|
66,023
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Mortgage-backed securities
|
579,330
|
|
|
—
|
|
|
579,330
|
|
|
—
|
|
|
139,758
|
|
|
—
|
|
|
139,758
|
|
|
—
|
|
||||||||
Total debt securities
|
1,441,685
|
|
|
—
|
|
|
1,441,685
|
|
|
—
|
|
|
618,150
|
|
|
—
|
|
|
618,150
|
|
|
—
|
|
||||||||
Common equities and mutual funds
|
1,113
|
|
|
1,113
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Total securities
|
$
|
1,442,798
|
|
|
$
|
1,113
|
|
|
$
|
1,441,685
|
|
|
$
|
—
|
|
|
$
|
618,150
|
|
|
$
|
—
|
|
|
$
|
618,150
|
|
|
$
|
—
|
|
|
Fair Value At September 30, 2015
|
||||||||||||||||||||||||||||||
|
Available For Sale
|
|
Held to Maturity
|
||||||||||||||||||||||||||||
(Dollars in Thousands)
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||||||||
Debt securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Trust preferred and corporate securities
|
$
|
13,944
|
|
|
$
|
—
|
|
|
$
|
13,944
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Small business administration securities
|
56,056
|
|
|
—
|
|
|
56,056
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Obligations of states and political subdivisions
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19,413
|
|
|
—
|
|
|
19,413
|
|
|
—
|
|
||||||||
Non-bank qualified obligations of states and political subdivisions
|
608,590
|
|
|
—
|
|
|
608,590
|
|
|
—
|
|
|
261,330
|
|
|
—
|
|
|
261,330
|
|
|
—
|
|
||||||||
Mortgage-backed securities
|
576,583
|
|
|
—
|
|
|
576,583
|
|
|
—
|
|
|
66,104
|
|
|
—
|
|
|
66,104
|
|
|
—
|
|
||||||||
Total debt securities
|
1,255,173
|
|
|
—
|
|
|
1,255,173
|
|
|
—
|
|
|
346,847
|
|
|
—
|
|
|
346,847
|
|
|
—
|
|
||||||||
Common equities and mutual funds
|
914
|
|
|
914
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Total securities
|
$
|
1,256,087
|
|
|
$
|
914
|
|
|
$
|
1,255,173
|
|
|
$
|
—
|
|
|
$
|
346,847
|
|
|
$
|
—
|
|
|
$
|
346,847
|
|
|
$
|
—
|
|
|
Fair Value At June 30, 2016
|
||||||||||||||
(Dollars in Thousands)
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Impaired Loans, net
|
|
|
|
|
|
|
|
||||||||
One to four family residential mortgage loans
|
$
|
77
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
77
|
|
Total
|
$
|
77
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
77
|
|
|
Fair Value At September 30, 2015
|
||||||||||||||
(Dollars in Thousands)
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Impaired Loans, net
|
|
|
|
|
|
|
|
||||||||
Commercial and multi-family real estate loans
|
$
|
663
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
663
|
|
Agricultural operating loans
|
1,880
|
|
|
—
|
|
|
—
|
|
|
1,880
|
|
||||
Total
|
$
|
2,543
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,543
|
|
|
Quantitative Information About Level 3 Fair Value Measurements
|
||||||
(Dollars in Thousands)
|
Fair Value at
June 30, 2016 |
|
Valuation
Technique |
|
Unobservable Input
|
||
Impaired Loans, net
|
$
|
77
|
|
|
Market approach
|
|
Appraised values
(1)
|
(1)
|
The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimated selling costs in a range of
4%
to
10%
.
|
|
Quantitative Information About Level 3 Fair Value Measurements
|
||||||
(Dollars in Thousands)
|
Fair Value at
September 30, 2015 |
|
Valuation
Technique |
|
Unobservable Input
|
||
Impaired Loans, net
|
$
|
2,543
|
|
|
Market approach
|
|
Appraised values
(1)
|
(1)
|
The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimated selling costs in a range of
4%
to
10%
.
|
|
June 30, 2016
|
||||||||||||||||||
|
Carrying
Amount |
|
Estimated
Fair Value |
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||
|
(Dollars in Thousands)
|
||||||||||||||||||
Financial assets
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash and cash equivalents
|
$
|
36,830
|
|
|
$
|
36,830
|
|
|
$
|
36,830
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Securities available for sale
|
1,442,798
|
|
|
1,442,798
|
|
|
1,113
|
|
|
1,441,685
|
|
|
—
|
|
|||||
Securities held to maturity
|
604,589
|
|
|
618,150
|
|
|
—
|
|
|
618,150
|
|
|
—
|
|
|||||
Total securities
|
2,047,387
|
|
|
2,060,948
|
|
|
1,113
|
|
|
2,059,835
|
|
|
—
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
One to four family residential mortgage loans
|
150,461
|
|
|
156,610
|
|
|
—
|
|
|
—
|
|
|
156,610
|
|
|||||
Commercial and multi-family real estate loans
|
386,798
|
|
|
386,551
|
|
|
—
|
|
|
—
|
|
|
386,551
|
|
|||||
Agricultural real estate loans
|
64,130
|
|
|
64,464
|
|
|
—
|
|
|
—
|
|
|
64,464
|
|
|||||
Consumer loans
|
36,986
|
|
|
36,376
|
|
|
—
|
|
|
—
|
|
|
36,376
|
|
|||||
Commercial operating loans
|
40,971
|
|
|
41,336
|
|
|
—
|
|
|
—
|
|
|
41,336
|
|
|||||
Agricultural operating loans
|
40,435
|
|
|
40,241
|
|
|
—
|
|
|
—
|
|
|
40,241
|
|
|||||
Premium finance loans
|
141,342
|
|
|
144,180
|
|
|
—
|
|
|
—
|
|
|
144,180
|
|
|||||
Total loans receivable
|
861,123
|
|
|
869,758
|
|
|
—
|
|
|
—
|
|
|
869,758
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Federal Home Loan Bank stock
|
25,311
|
|
|
25,311
|
|
|
—
|
|
|
25,311
|
|
|
—
|
|
|||||
Accrued interest receivable
|
17,911
|
|
|
17,911
|
|
|
17,911
|
|
|
—
|
|
|
—
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Financial liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Noninterest bearing demand deposits
|
1,922,802
|
|
|
1,922,802
|
|
|
1,922,802
|
|
|
—
|
|
|
—
|
|
|||||
Interest bearing demand deposits, savings, and money markets
|
163,818
|
|
|
163,818
|
|
|
163,818
|
|
|
—
|
|
|
—
|
|
|||||
Certificates of deposit
|
100,336
|
|
|
100,066
|
|
|
—
|
|
|
100,066
|
|
|
—
|
|
|||||
Total deposits
|
2,186,956
|
|
|
2,186,686
|
|
|
2,086,620
|
|
|
100,066
|
|
|
—
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Advances from Federal Home Loan Bank
|
107,000
|
|
|
108,274
|
|
|
—
|
|
|
108,274
|
|
|
—
|
|
|||||
Federal funds purchased
|
437,000
|
|
|
437,000
|
|
|
—
|
|
|
437,000
|
|
|
—
|
|
|||||
Securities sold under agreements to repurchase
|
2,234
|
|
|
2,234
|
|
|
—
|
|
|
2,234
|
|
|
—
|
|
|||||
Subordinated debentures
|
10,310
|
|
|
10,430
|
|
|
—
|
|
|
10,430
|
|
|
—
|
|
|||||
Accrued interest payable
|
337
|
|
|
337
|
|
|
337
|
|
|
—
|
|
|
—
|
|
|
September 30, 2015
|
||||||||||||||||||
|
Carrying
Amount |
|
Estimated
Fair Value |
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||
|
(Dollars in Thousands)
|
||||||||||||||||||
Financial assets
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash and cash equivalents
|
$
|
27,658
|
|
|
$
|
27,658
|
|
|
$
|
27,658
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Securities available for sale
|
1,256,087
|
|
|
1,256,087
|
|
|
914
|
|
|
1,255,173
|
|
|
—
|
|
|||||
Securities held to maturity
|
345,744
|
|
|
346,847
|
|
|
—
|
|
|
346,847
|
|
|
—
|
|
|||||
Total securities
|
1,601,831
|
|
|
1,602,934
|
|
|
914
|
|
|
1,602,020
|
|
|
—
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
One to four family residential mortgage loans
|
125,021
|
|
|
121,385
|
|
|
—
|
|
|
—
|
|
|
121,385
|
|
|||||
Commercial and multi-family real estate loans
|
310,199
|
|
|
314,372
|
|
|
—
|
|
|
—
|
|
|
314,372
|
|
|||||
Agricultural real estate loans
|
64,316
|
|
|
66,682
|
|
|
—
|
|
|
—
|
|
|
66,682
|
|
|||||
Consumer loans
|
33,527
|
|
|
33,504
|
|
|
—
|
|
|
—
|
|
|
33,504
|
|
|||||
Commercial operating loans
|
29,893
|
|
|
23,245
|
|
|
—
|
|
|
—
|
|
|
23,245
|
|
|||||
Agricultural operating loans
|
43,626
|
|
|
40,003
|
|
|
—
|
|
|
—
|
|
|
40,003
|
|
|||||
Premium finance loans
|
106,505
|
|
|
108,583
|
|
|
—
|
|
|
—
|
|
|
108,583
|
|
|||||
Total loans receivable
|
713,087
|
|
|
707,774
|
|
|
—
|
|
|
—
|
|
|
707,774
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Federal Home Loan Bank stock
|
24,410
|
|
|
24,410
|
|
|
—
|
|
|
24,410
|
|
|
—
|
|
|||||
Accrued interest receivable
|
13,352
|
|
|
13,352
|
|
|
13,352
|
|
|
—
|
|
|
—
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Financial liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Noninterest bearing demand deposits
|
1,449,101
|
|
|
1,369,672
|
|
|
1,369,672
|
|
|
—
|
|
|
—
|
|
|||||
Interest bearing demand deposits, savings, and money markets
|
117,262
|
|
|
115,204
|
|
|
115,204
|
|
|
—
|
|
|
—
|
|
|||||
Certificates of deposit
|
91,171
|
|
|
91,304
|
|
|
—
|
|
|
91,304
|
|
|
—
|
|
|||||
Total deposits
|
1,657,534
|
|
|
1,576,180
|
|
|
1,484,876
|
|
|
91,304
|
|
|
—
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Advances from Federal Home Loan Bank
|
7,000
|
|
|
8,630
|
|
|
—
|
|
|
8,630
|
|
|
—
|
|
|||||
Federal funds purchased
|
540,000
|
|
|
540,000
|
|
|
—
|
|
|
540,000
|
|
|
—
|
|
|||||
Securities sold under agreements to repurchase
|
4,007
|
|
|
4,007
|
|
|
—
|
|
|
4,007
|
|
|
—
|
|
|||||
Subordinated debentures
|
10,310
|
|
|
10,416
|
|
|
—
|
|
|
10,416
|
|
|
—
|
|
|||||
Accrued interest payable
|
272
|
|
|
272
|
|
|
272
|
|
|
—
|
|
|
—
|
|
AFS/IBEX
|
|
|
|
|
|
||
Intangible
|
Amount
|
|
Book Amortization
Period (Years) |
|
Method
|
||
Trademark
|
$
|
540
|
|
|
15
|
|
Straight Line
|
Non-Compete
|
$
|
260
|
|
|
3
|
|
Straight Line
|
Customer Relationships
|
$
|
7,240
|
|
|
30
|
|
Accelerated
|
Other
|
$
|
173
|
|
|
Varied
|
|
Straight Line
|
Refund Advantage
|
|
|
|
|
|
||
Intangible
|
Amount
|
|
Book Amortization
Period (Years) |
|
Method
|
||
Trademark
|
$
|
4,950
|
|
|
30
|
|
Accelerated
|
Non-Compete
|
$
|
40
|
|
|
3
|
|
Straight Line
|
Customer Relationships
|
$
|
18,800
|
|
|
12 to 20
|
|
Accelerated
|
Other
|
$
|
329
|
|
|
Varied
|
|
Straight Line
|
|
June 30,
|
||||||
|
2016
|
|
2015
|
||||
|
(Dollars in Thousands)
|
||||||
Goodwill
|
|
|
|
||||
Balance as of September 30
|
$
|
36,928
|
|
|
$
|
—
|
|
Acquisitions during the period
|
—
|
|
|
11,578
|
|
||
Write-offs during the period
|
—
|
|
|
—
|
|
||
Balance as of June 30
|
$
|
36,928
|
|
|
$
|
11,578
|
|
|
Trademark
|
|
Non-Compete
|
|
Customer
Relationships |
|
All Others
|
|
Total
|
||||||||||
Intangibles
|
|
||||||||||||||||||
Balance as of September 30, 2015
|
$
|
5,439
|
|
|
$
|
227
|
|
|
$
|
24,811
|
|
|
$
|
3,100
|
|
|
$
|
33,577
|
|
Acquisitions during the period
|
—
|
|
|
—
|
|
|
—
|
|
|
155
|
|
|
155
|
|
|||||
Amortization during the period
|
(216
|
)
|
|
(75
|
)
|
|
(3,191
|
)
|
|
(162
|
)
|
|
(3,644
|
)
|
|||||
Write-offs during the period
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Balance as of June 30, 2016
|
$
|
5,223
|
|
|
$
|
152
|
|
|
$
|
21,620
|
|
|
$
|
3,093
|
|
|
$
|
30,088
|
|
|
Trademark
|
|
Non-Compete
|
|
Customer
Relationships |
|
All Others
|
|
Total
|
||||||||||
Intangibles
|
|
||||||||||||||||||
Balance as of September 30, 2014
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,588
|
|
|
$
|
2,588
|
|
Acquisitions during the period
|
540
|
|
|
260
|
|
|
7,240
|
|
|
468
|
|
|
8,508
|
|
|||||
Amortization during the period
|
(21
|
)
|
|
(51
|
)
|
|
(689
|
)
|
|
(198
|
)
|
|
(959
|
)
|
|||||
Write-offs during the period
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Balance as of June 30, 2015
|
$
|
519
|
|
|
$
|
209
|
|
|
$
|
6,551
|
|
|
$
|
2,858
|
|
|
$
|
10,137
|
|
|
Non-Performing Assets As Of
|
||||||
|
June 30, 2016
|
|
September 30, 2015
|
||||
Non-Performing Loans
|
(Dollars in Thousands)
|
||||||
|
|
|
|
||||
Non-Accruing Loans:
|
|
|
|
||||
1-4 Family Real Estate
|
$
|
128
|
|
|
$
|
24
|
|
Commercial & Multi Family Real Estate
|
513
|
|
|
904
|
|
||
Agricultural Operating
|
—
|
|
|
5,132
|
|
||
Total
(1)
|
641
|
|
|
6,060
|
|
||
|
|
|
|
||||
Accruing Loans Delinquent 90 Days or More
|
|
|
|
|
|
||
Consumer
|
53
|
|
|
13
|
|
||
Premium Finance
|
1,514
|
|
|
1,728
|
|
||
Total
|
1,567
|
|
|
1,741
|
|
||
|
|
|
|
||||
Total Non-Performing Loans
|
2,208
|
|
|
7,801
|
|
||
|
|
|
|
||||
Other Assets
|
|
|
|
|
|
||
|
|
|
|
||||
Total Other Assets
|
—
|
|
|
—
|
|
||
|
|
|
|
||||
Total Non-Performing Assets
|
$
|
2,208
|
|
|
$
|
7,801
|
|
Total as a Percentage of Total Assets
|
0.07
|
%
|
|
0.31
|
%
|
|
(1)
|
The Company had no non-performing TDRs as of
June 30, 2016
and
September 30, 2015
. In addition, the Company had $0.5 million and $0.6 million of TDRs performing in accordance with their terms at
June 30, 2016
and
September 30, 2015
, respectively.
|
Three Months Ended June 30,
|
2016
|
|
2015
|
||||||||||||||||||
(Dollars in Thousands)
|
Average
Outstanding Balance |
|
Interest
Earned / Paid |
|
Yield /
Rate |
|
Average
Outstanding Balance |
|
Interest
Earned / Paid |
|
Yield /
Rate |
||||||||||
Interest-earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans receivable
|
$
|
826,223
|
|
|
$
|
9,280
|
|
|
4.52
|
%
|
|
$
|
640,249
|
|
|
$
|
7,528
|
|
|
4.72
|
%
|
Mortgage-backed securities
|
737,666
|
|
|
3,777
|
|
|
2.06
|
%
|
|
715,634
|
|
|
3,055
|
|
|
1.71
|
%
|
||||
Other investments and fed funds sold
|
1,304,600
|
|
|
7,706
|
|
|
3.41
|
%
|
|
891,127
|
|
|
4,671
|
|
|
3.06
|
%
|
||||
Total interest-earning assets
|
2,868,489
|
|
|
$
|
20,763
|
|
|
3.38
|
%
|
|
2,247,010
|
|
|
$
|
15,254
|
|
|
3.10
|
%
|
||
Non-interest-earning assets
|
199,306
|
|
|
|
|
|
|
|
|
101,071
|
|
|
|
|
|
|
|
||||
Total assets
|
$
|
3,067,795
|
|
|
|
|
|
|
|
|
$
|
2,348,081
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Non-interest bearing deposits
|
$
|
2,079,457
|
|
|
$
|
—
|
|
|
0.00
|
%
|
|
$
|
1,633,932
|
|
|
$
|
—
|
|
|
0.00
|
%
|
Interest-bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest-bearing checking
|
37,098
|
|
|
22
|
|
|
0.24
|
%
|
|
36,429
|
|
|
22
|
|
|
0.24
|
%
|
||||
Savings
|
77,655
|
|
|
6
|
|
|
0.03
|
%
|
|
35,580
|
|
|
15
|
|
|
0.17
|
%
|
||||
Money markets
|
44,396
|
|
|
18
|
|
|
0.16
|
%
|
|
37,340
|
|
|
14
|
|
|
0.15
|
%
|
||||
Time deposits
|
66,479
|
|
|
90
|
|
|
0.55
|
%
|
|
60,965
|
|
|
107
|
|
|
0.70
|
%
|
||||
FHLB advances
|
20,956
|
|
|
141
|
|
|
2.71
|
%
|
|
7,000
|
|
|
124
|
|
|
7.11
|
%
|
||||
Overnight fed funds purchased
|
354,659
|
|
|
448
|
|
|
0.51
|
%
|
|
266,978
|
|
|
195
|
|
|
0.29
|
%
|
||||
Other borrowings
|
12,068
|
|
|
119
|
|
|
3.97
|
%
|
|
19,645
|
|
|
116
|
|
|
2.37
|
%
|
||||
Total interest-bearing liabilities
|
613,311
|
|
|
844
|
|
|
0.55
|
%
|
|
463,937
|
|
|
593
|
|
|
0.51
|
%
|
||||
Total deposits and interest-bearing liabilities
|
2,692,768
|
|
|
$
|
844
|
|
|
0.13%
|
|
|
2,097,869
|
|
|
$
|
593
|
|
|
0.11
|
%
|
||
Other non-interest bearing liabilities
|
55,802
|
|
|
|
|
|
|
|
|
35,641
|
|
|
|
|
|
||||||
Total liabilities
|
2,748,570
|
|
|
|
|
|
|
|
|
2,133,510
|
|
|
|
|
|
|
|
||||
Shareholders' equity
|
319,225
|
|
|
|
|
|
|
|
|
214,571
|
|
|
|
|
|
|
|
||||
Total liabilities and shareholders' equity
|
$
|
3,067,795
|
|
|
|
|
|
|
|
|
$
|
2,348,081
|
|
|
|
|
|
|
|
||
Net interest income and net interest rate spread including non-interest bearing deposits
|
|
|
|
$
|
19,919
|
|
|
3.26
|
%
|
|
|
|
|
$
|
14,661
|
|
|
2.99
|
%
|
||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net interest margin
|
|
|
|
|
|
|
3.27
|
%
|
|
|
|
|
|
|
|
3.00
|
%
|
Nine Months Ended June 30,
|
2016
|
|
2015
|
||||||||||||||||||
(Dollars in Thousands)
|
Average
Outstanding Balance |
|
Interest
Earned / Paid |
|
Yield /
Rate |
|
Average
Outstanding Balance |
|
Interest
Earned / Paid |
|
Yield /
Rate |
||||||||||
Interest-earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans receivable
|
$
|
778,242
|
|
|
$
|
26,147
|
|
|
4.49
|
%
|
|
$
|
593,477
|
|
|
$
|
21,561
|
|
|
4.86
|
%
|
Mortgage-backed securities
|
738,929
|
|
|
12,258
|
|
|
2.22
|
%
|
|
708,024
|
|
|
10,798
|
|
|
2.04
|
%
|
||||
Other investments and fed funds sold
|
1,241,256
|
|
|
21,262
|
|
|
3.29
|
%
|
|
882,159
|
|
|
12,885
|
|
|
2.82
|
%
|
||||
Total interest-earning assets
|
2,758,427
|
|
|
$
|
59,667
|
|
|
3.34
|
%
|
|
2,183,660
|
|
|
$
|
45,244
|
|
|
3.12
|
%
|
||
Non-interest-earning assets
|
184,953
|
|
|
|
|
|
|
|
|
96,174
|
|
|
|
|
|
|
|
||||
Total assets
|
$
|
2,943,380
|
|
|
|
|
|
|
|
|
$
|
2,279,834
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Non-interest bearing deposits
|
$
|
2,022,095
|
|
|
$
|
—
|
|
|
0.00
|
%
|
|
$
|
1,635,607
|
|
|
$
|
—
|
|
|
0.00
|
%
|
Interest-bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest-bearing checking
|
36,060
|
|
|
64
|
|
|
0.24
|
%
|
|
35,978
|
|
|
66
|
|
|
0.25
|
%
|
||||
Savings
|
61,904
|
|
|
17
|
|
|
0.04
|
%
|
|
32,644
|
|
|
44
|
|
|
0.18
|
%
|
||||
Money markets
|
45,182
|
|
|
54
|
|
|
0.16
|
%
|
|
38,532
|
|
|
44
|
|
|
0.15
|
%
|
||||
Time deposits
|
70,294
|
|
|
299
|
|
|
0.57
|
%
|
|
86,696
|
|
|
409
|
|
|
0.63
|
%
|
||||
FHLB advances
|
49,409
|
|
|
472
|
|
|
1.28
|
%
|
|
7,000
|
|
|
371
|
|
|
7.09
|
%
|
||||
Overnight fed funds purchased
|
303,664
|
|
|
1,001
|
|
|
0.44
|
%
|
|
196,974
|
|
|
437
|
|
|
0.30
|
%
|
||||
Other borrowings
|
12,388
|
|
|
348
|
|
|
3.75
|
%
|
|
22,041
|
|
|
356
|
|
|
2.16
|
%
|
||||
Total interest-bearing liabilities
|
578,901
|
|
|
2,255
|
|
|
0.52
|
%
|
|
419,865
|
|
|
1,727
|
|
|
0.55
|
%
|
||||
Total deposits and interest-bearing liabilities
|
2,600,996
|
|
|
$
|
2,255
|
|
|
0.12
|
%
|
|
2,055,472
|
|
|
$
|
1,727
|
|
|
0.11
|
%
|
||
Other non-interest bearing liabilities
|
43,981
|
|
|
|
|
|
|
|
|
27,088
|
|
|
|
|
|
|
|
||||
Total liabilities
|
2,644,977
|
|
|
|
|
|
|
|
|
2,082,560
|
|
|
|
|
|
|
|
||||
Stockholders' equity
|
298,403
|
|
|
|
|
|
|
|
|
197,274
|
|
|
|
|
|
|
|
||||
Total liabilities and stockholders' equity
|
$
|
2,943,380
|
|
|
|
|
|
|
|
|
$
|
2,279,834
|
|
|
|
|
|
|
|
||
Net interest income and net interest rate spread including non-interest bearing deposits
|
|
|
|
$
|
57,412
|
|
|
3.23
|
%
|
|
|
|
|
$
|
43,517
|
|
|
3.01
|
%
|
||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net interest margin
|
|
|
|
|
|
|
3.23
|
%
|
|
|
|
|
|
|
|
3.01
|
%
|
(1)
|
Tax rate used to arrive at a TEY for three months ended
June 30, 2016
is 34%
|
(1)
|
Tax rate used to arrive at a TEY for three months ended
June 30, 2015
is 34%
|
(1)
|
Tax rate used to arrive at a TEY for the
nine
months ended
June 30, 2016
is 34%
|
(1)
|
Tax rate used to arrive at a TEY for the
nine
months ended
June 30, 2015
is 34%
|
|
Company
|
|
Bank
|
|
Minimum
Requirement For Capital Adequacy Purposes |
|
Minimum
Requirement to Be Well Capitalized Under Prompt Corrective Action Provisions |
||||||||||||||||||||
At June 30, 2016
|
Actual
Amount |
|
Ratio
|
|
Actual
Amount |
|
Ratio
|
|
Amount
|
|
Ratio
|
|
Amount
|
|
Ratio
|
||||||||||||
|
(Dollars in Thousands)
|
||||||||||||||||||||||||||
Tier 1 (core) capital (to adjusted total assets)
|
$
|
258,415
|
|
|
8.64
|
%
|
|
$
|
253,341
|
|
|
8.47
|
%
|
|
$
|
119,572
|
|
|
4.00
|
%
|
|
$
|
149,465
|
|
|
5.00
|
%
|
Common equity Tier 1 (to risk-weighted assets)
|
250,100
|
|
|
17.84
|
%
|
|
253,341
|
|
|
18.08
|
%
|
|
63,055
|
|
|
4.50
|
%
|
|
91,079
|
|
|
6.50
|
%
|
||||
Tier 1 (core) capital (to risk-weighted assets)
|
258,415
|
|
|
18.44
|
%
|
|
253,341
|
|
|
18.08
|
%
|
|
84,073
|
|
|
6.00
|
%
|
|
112,097
|
|
|
8.00
|
%
|
||||
Total qualifying capital (to risk-weighted assets)
|
264,638
|
|
|
18.88
|
%
|
|
259,564
|
|
|
18.52
|
%
|
|
112,097
|
|
|
8.00
|
%
|
|
140,121
|
|
|
10.00
|
%
|
|
Standardized Approach (1)
June 30, 2016 |
||
|
(Dollars in Thousands)
|
||
|
|
||
Total equity
|
$
|
332,669
|
|
Adjustments:
|
|
|
|
LESS: Goodwill, net of associated deferred tax liabilities
|
35,931
|
|
|
LESS: Certain other intangible assets
|
18,053
|
|
|
LESS: Net deferred tax assets from operating loss and tax credit carry-forwards
|
2,993
|
|
|
LESS: Net unrealized gains (losses) on available-for-sale securities
|
25,591
|
|
|
Common Equity Tier 1
(1)
|
250,101
|
|
|
Long-term debt and other instruments qualifying as Tier 1
|
10,310
|
|
|
LESS: Additional tier 1 capital deductions
|
1,995
|
|
|
Total Tier 1 capital
|
258,416
|
|
|
Allowance for loan losses
|
6,222
|
|
|
Total qualifying capital
|
264,638
|
|
(1)
|
Basel III revised the definition of capital, increased minimum capital ratios, and introduced a minimum CET1 ratio. Those changes became effective for the Company on January 1, 2015, and are being fully phased in through the end of 2021. The capital ratios were determined using the Basel III capital rules that became effective on January 1, 2015.
|
Net Sensitive Earnings at Risk
|
||||||||||||||
Balances as of June 30, 2016
|
Standard (Parallel Shift) Year 1
|
|||||||||||||
|
Net Interest Income at Risk%
|
|||||||||||||
|
-100
|
|
+100
|
|
+200
|
|
+300
|
|
+400
|
|||||
Basis Point Change Scenario
|
-6.6
|
%
|
|
1.3
|
%
|
|
-0.2
|
%
|
|
-2.5
|
%
|
|
-4.8
|
%
|
Board Policy Limits
|
-5.0
|
%
|
|
-5.0
|
%
|
|
-10.0
|
%
|
|
-15.0
|
%
|
|
-20.0
|
%
|
Net Sensitive Earnings at Risk
|
||||||||||||||
Alternative IRR Results
|
Standard (Parallel Shift) Year 1
|
|||||||||||||
|
Net Interest Income at Risk%
|
|||||||||||||
|
-100
|
|
+100
|
|
+200
|
|
+300
|
|
+400
|
|||||
Basis Point Change Scenario
|
-7.5
|
%
|
|
3.3
|
%
|
|
3.8
|
%
|
|
3.6
|
%
|
|
3.4
|
%
|
Board Policy Limits
|
-5.0
|
%
|
|
-5.0
|
%
|
|
-10.0
|
%
|
|
-15.0
|
%
|
|
-20.0
|
%
|
Balances as of June 30, 2016
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
% of
|
|
Change in Interest Income/Expense
for a given change in interest rates |
|
|
||||||||||||||||
|
Total Earning
|
|
Total Earning
|
|
Over / (Under) Base Case Parallel Ramp
|
|
|
||||||||||||||||
Basis Point Change Scenario
|
Assets (in $000's)
|
|
Assets
|
|
-100
|
|
Base
|
|
+100
|
|
+200
|
|
+300
|
|
+400
|
||||||||
Total Loans
|
850,116
|
|
|
31.4
|
%
|
|
41,802
|
|
|
44,191
|
|
|
46,671
|
|
|
49,104
|
|
|
51,530
|
|
|
53,995
|
|
Total Investments (non-TEY) and other Earning Assets
|
1,856,805
|
|
|
68.6
|
%
|
|
35,663
|
|
|
41,625
|
|
|
46,517
|
|
|
49,205
|
|
|
51,226
|
|
|
53,228
|
|
Total Interest-Sensitive Income
|
2,706,921
|
|
|
100.0
|
%
|
|
77,465
|
|
|
85,816
|
|
|
93,188
|
|
|
98,309
|
|
|
102,756
|
|
|
107,223
|
|
Total Interest-Bearing Deposits
|
264,154
|
|
|
32.7
|
%
|
|
430
|
|
|
703
|
|
|
1,706
|
|
|
2,708
|
|
|
3,711
|
|
|
4,713
|
|
Total Borrowings
|
544,000
|
|
|
67.3
|
%
|
|
601
|
|
|
3,288
|
|
|
8,623
|
|
|
13,958
|
|
|
19,293
|
|
|
24,629
|
|
Total Interest-Sensitive Expense
|
808,154
|
|
|
100.0
|
%
|
|
1,031
|
|
|
3,991
|
|
|
10,329
|
|
|
16,666
|
|
|
23,004
|
|
|
29,342
|
|
Alternative IRR Results
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
|
% of
|
|
Change in Interest Income/Expense
for a given change in interest rates |
|
|
||||||||||||||||
|
Total Earning
|
|
Total Earning
|
|
Over / (Under) Base Case Parallel Ramp
|
|
|
||||||||||||||||
Basis Point Change Scenario
|
Assets (in $000's)
|
|
Assets
|
|
-100
|
|
Base
|
|
+100
|
|
+200
|
|
+300
|
|
+400
|
||||||||
Total Loans
|
850,116
|
|
|
31.4
|
%
|
|
41,802
|
|
|
44,191
|
|
|
46,671
|
|
|
49,104
|
|
|
51,530
|
|
|
53,995
|
|
Total Investments (non-TEY) and other Earning Assets
|
1,857,166
|
|
|
68.6
|
%
|
|
35,663
|
|
|
41,628
|
|
|
46,535
|
|
|
49,251
|
|
|
51,313
|
|
|
53,365
|
|
Total Interest-Sensitive Income
|
2,707,282
|
|
|
100.0
|
%
|
|
77,465
|
|
|
85,819
|
|
|
93,206
|
|
|
98,355
|
|
|
102,843
|
|
|
107,360
|
|
Total Interest-Bearing Deposits
|
263,262
|
|
|
41.2
|
%
|
|
428
|
|
|
702
|
|
|
1,702
|
|
|
2,701
|
|
|
3,702
|
|
|
4,701
|
|
Total Borrowings
|
375,560
|
|
|
58.8
|
%
|
|
503
|
|
|
2,348
|
|
|
6,033
|
|
|
9,718
|
|
|
13,403
|
|
|
17,088
|
|
Total Interest-Sensitive Expense
|
638,822
|
|
|
100.0
|
%
|
|
931
|
|
|
3,050
|
|
|
7,735
|
|
|
12,419
|
|
|
17,105
|
|
|
21,789
|
|
Balances as of June 30, 2016
|
Standard (Parallel Shift)
|
|||||||||||||
|
Economic Value of Equity at Risk%
|
|||||||||||||
|
-100
|
|
+100
|
|
+200
|
|
+300
|
|
+400
|
|||||
Basis Point Change Scenario
|
-2.3
|
%
|
|
-1.2
|
%
|
|
-4.5
|
%
|
|
-8.6
|
%
|
|
-12.5
|
%
|
Board Policy Limits
|
-10.0
|
%
|
|
-10.0
|
%
|
|
-20.0
|
%
|
|
-30.0
|
%
|
|
-40.0
|
%
|
Alternative IRR Results
|
Standard (Parallel Shift)
|
|||||||||||||
|
Economic Value of Equity at Risk%
|
|||||||||||||
|
-100
|
|
+100
|
|
+200
|
|
+300
|
|
+400
|
|||||
Basis Point Change Scenario
|
-3.9
|
%
|
|
0.4
|
%
|
|
-1.5
|
%
|
|
-4.2
|
%
|
|
-6.9
|
%
|
Board Policy Limits
|
-10.0
|
%
|
|
-10.0
|
%
|
|
-20.0
|
%
|
|
-30.0
|
%
|
|
-40.0
|
%
|
Balances as of June 30, 2016
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
% of
|
|
Change in Economic Value
for a given change in interest rates |
|
|
|||||||||||||
|
Book
|
|
Total
|
|
Over / (Under) Base Case Parallel Ramp
|
|
|
|||||||||||||
Basis Point Change Scenario
|
Value (in $000's)
|
|
Assets
|
|
-100
|
|
+100
|
|
+200
|
|
+300
|
|
+400
|
|||||||
Total Loans
|
850,116
|
|
|
27
|
%
|
|
1.7
|
%
|
|
-1.9
|
%
|
|
-3.8
|
%
|
|
-5.8
|
%
|
|
-7.5
|
%
|
Total Investment
|
1,856,805
|
|
|
59
|
%
|
|
4.2
|
%
|
|
-4.6
|
%
|
|
-9.4
|
%
|
|
-14.0
|
%
|
|
-18.3
|
%
|
Other Assets
|
443,010
|
|
|
14
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
Assets
|
3,149,931
|
|
|
100
|
%
|
|
3.2
|
%
|
|
-3.5
|
%
|
|
-7.2
|
%
|
|
-10.7
|
%
|
|
-14.0
|
%
|
Interest Bearing Deposits
|
264,154
|
|
|
9
|
%
|
|
3.4
|
%
|
|
-2.2
|
%
|
|
-4.1
|
%
|
|
-5.9
|
%
|
|
-7.6
|
%
|
Non-Interest Bearing Deposits
|
1,930,096
|
|
|
69
|
%
|
|
6.4
|
%
|
|
-5.8
|
%
|
|
-11.2
|
%
|
|
-16.0
|
%
|
|
-20.5
|
%
|
Total Borrowings & Other Liabilities
|
619,772
|
|
|
22
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
|
-0.1
|
%
|
|
-0.1
|
%
|
|
-0.2
|
%
|
Liabilities
|
2,814,022
|
|
|
100
|
%
|
|
4.5
|
%
|
|
-4.1
|
%
|
|
-7.8
|
%
|
|
-11.2
|
%
|
|
-14.3
|
%
|
Alternative IRR Results
|
|
|
|
|
|
|
|
|||||||||||||
|
|
|
% of
|
|
Change in Economic Value
for a given change in interest rates |
|
|
|||||||||||||
|
Book
|
|
Total
|
|
Over / (Under) Base Case Parallel Ramp
|
|
|
|||||||||||||
Basis Point Change Scenario
|
Value (in $000's)
|
|
Assets
|
|
-100
|
|
+100
|
|
+200
|
|
+300
|
|
+400
|
|||||||
Total Loans
|
850,116
|
|
|
27
|
%
|
|
1.7
|
%
|
|
-1.9
|
%
|
|
-3.8
|
%
|
|
-5.8
|
%
|
|
-7.5
|
%
|
Total Investment
|
1,857,166
|
|
|
59
|
%
|
|
4.2
|
%
|
|
-4.6
|
%
|
|
-9.4
|
%
|
|
-14.0
|
%
|
|
-18.3
|
%
|
Other Assets
|
442,650
|
|
|
14
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
|
0.0
|
%
|
Assets
|
3,149,932
|
|
|
100
|
%
|
|
3.2
|
%
|
|
-3.5
|
%
|
|
-7.2
|
%
|
|
-10.7
|
%
|
|
-14.0
|
%
|
Interest Bearing Deposits
|
263,262
|
|
|
9
|
%
|
|
3.4
|
%
|
|
-2.2
|
%
|
|
-4.1
|
%
|
|
-5.9
|
%
|
|
-7.6
|
%
|
Non-Interest Bearing Deposits
|
2,087,929
|
|
|
74
|
%
|
|
6.5
|
%
|
|
-5.9
|
%
|
|
-11.4
|
%
|
|
-16.3
|
%
|
|
-20.9
|
%
|
Total Borrowings & Other Liabilities
|
462,832
|
|
|
16
|
%
|
|
1.0
|
%
|
|
-0.1
|
%
|
|
-0.1
|
%
|
|
-0.2
|
%
|
|
-0.2
|
%
|
Liabilities
|
2,814,023
|
|
|
100
|
%
|
|
5.0
|
%
|
|
-4.5
|
%
|
|
-8.6
|
%
|
|
-12.3
|
%
|
|
-15.8
|
%
|
|
META FINANCIAL GROUP, INC.
|
|
|
|
|
Date:
August 2, 2016
|
By:
|
/s/ J. Tyler Haahr
|
|
|
J. Tyler Haahr, Chairman of the Board
|
|
|
and Chief Executive Officer
|
|
|
|
Date:
August 2, 2016
|
By:
|
/s/ Glen W. Herrick
|
|
|
Glen W. Herrick, Executive Vice President
|
|
|
and Chief Financial Officer
|
Exhibit
Number
|
Description
|
|
|
10.1
|
Form of Restricted Stock Agreement under Meta Financial Group, Inc. 2002 Omnibus Incentive Plan
|
|
|
31.1
|
Section 302 certification of Chief Executive Officer.
|
|
|
31.2
|
Section 302 certification of Chief Financial Officer.
|
|
|
32.1
|
Section 906 certification of Chief Executive Officer.
|
|
|
32.2
|
Section 906 certification of Chief Financial Officer.
|
|
|
101.INS
|
Instance Document
|
|
|
101.SCH
|
XBRL Taxonomy Extension Schema Document
|
|
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
META FINANCIAL GROUP, INC.
By:
Name: ________________
Title: ________________
|
GRANTEE
Name: ________________
Address: ____________________________
|
|
|
Date:
August 2, 2016
|
|
/s/ J. Tyler Haahr
|
|
|
Chairman of the Board and Chief Executive Officer
|
Date:
August 2, 2016
|
|
/s/ Glen W. Herrick
|
|
|
Executive Vice President and Chief Financial Officer
|