falsedesktopWSBF2020-09-30000156999420000047{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer ☐\tAccelerated filer ☒ Non-accelerated filer ☐\tSmaller reporting company ☐\nEmerging growth company ☐\t\t\n", "q10k_tbl_1": "\tPage No.\nPART I. FINANCIAL INFORMATION\t\nItem l. Financial Statements\t\nConsolidated Statements of Financial Condition as of September 30 2020 (unaudited) and December 31 2019\t3\nConsolidated Statements of Income for the three and nine months ended September 30 2020 and 2019 (unaudited)\t4\nConsolidated Statements of Comprehensive Income for the three and nine months ended September 30 2020 and 2019 (unaudited)\t5\nConsolidated Statements of Changes in Shareholders' Equity for the three and nine months ended September 30 2020 and 2019 (unaudited)\t6-7\nConsolidated Statements of Cash Flows for the nine months ended September 30 2020 and 2019 (unaudited)\t8\nNotes to Consolidated Financial Statements (unaudited)\t9-40\nItem 2. Management's Discussion and Analysis of Financial Condition and Results of Operations\t41-65\nItem 3. Quantitative and Qualitative Disclosures about Market Risk\t66\nItem 4. Controls and Procedures\t67\nPART II. OTHER INFORMATION\t\nItem 1. Legal Proceedings\t67\nItem 1A. Risk Factors Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Item 3. Defaults Upon Senior Securities Item 4. Mine Safety Disclosures Item 5. Other Information\t67 67 67 67 67\nItem 6. Exhibits\t68\nSignatures\t68\n", "q10k_tbl_2": "\t(Unaudited)\t\t\n\tSeptember 30 2020\tDecember 31 2019\t\nAssets\t(Dollars In Thousands except share and per share data)\nCash\t54681\t52814\t\t\nFederal funds sold\t21151\t\t12704\t\nInterest-earning deposits in other financial institutions and other short term investments\t10730\t\t8782\t\nCash and cash equivalents\t86562\t\t74300\t\nSecurities available for sale (at fair value)\t153201\t\t178476\t\nLoans held for sale (at fair value)\t385803\t\t220123\t\nLoans receivable\t1434132\t\t1388031\t\nLess: Allowance for loan losses\t18844\t\t12387\t\nLoans receivable net\t1415288\t\t1375644\t\nOffice properties and equipment net\t23961\t\t25028\t\nFederal Home Loan Bank stock (at cost)\t26720\t\t21150\t\nCash surrender value of life insurance\t63255\t\t69665\t\nReal estate owned net\t772\t\t748\t\nPrepaid expenses and other assets\t65260\t\t31213\t\nTotal assets\t2220822\t1996347\t\t\nLiabilities and Shareholders' Equity\t\t\t\t\nLiabilities:\t\t\t\t\nDemand deposits\t169218\t130063\t\t\nMoney market and savings deposits\t271283\t\t197942\t\nTime deposits\t744150\t\t739771\t\nTotal deposits\t1184651\t\t1067776\t\nBorrowings\t552126\t\t483562\t\nAdvance payments by borrowers for taxes\t25987\t\t4212\t\nOther liabilities\t58629\t\t47111\t\nTotal liabilities\t1821393\t\t1602661\t\nShareholders' equity:\t\t\t\t\nPreferred stock (par value $0.01 per share)\t\t\t\t\nAuthorized - 50000000 shares at September 30 2020 and at December 31 2019 no shares issued\t0\t\t0\t\nCommon stock (par value $0.01 per share)\t\t\t\t\nAuthorized - 100000000 shares at September 30 2020 and at December 31 2019\t\t\t\t\nIssued - 25220036 at September 30 2020 and 27148411 at December 31 2019\t\t\t\t\nOutstanding - 25220036 at September 30 2020 and 27148411 at December 31 2019\t252\t\t271\t\nAdditional paid-in capital\t182960\t\t211997\t\nRetained earnings\t229289\t\t197393\t\nUnearned ESOP shares\t(15727)\t\t(16617)\t\nAccumulated other comprehensive income net of taxes\t2655\t\t642\t\nTotal shareholders' equity\t399429\t\t393686\t\nTotal liabilities and shareholders' equity\t2220822\t1996347\t\t\n", "q10k_tbl_3": "\tThree months ended September 30\tNine months ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n\t(In Thousands except per share amounts)\nInterest income:\t\t\t\t\t\t\t\t\t\nLoans\t18224\t18558\t\t54404\t\t\t\t53688\t\t\nMortgage-related securities\t588\t\t737\t\t1960\t\t\t\t2260\t\nDebt securities federal funds sold and short-term investments\t732\t\t1083\t\t2493\t\t\t\t3515\t\nTotal interest income\t19544\t\t20378\t\t58857\t\t\t\t59463\t\nInterest expense:\t\t\t\t\t\t\t\t\t\t\nDeposits\t3495\t\t4479\t\t11760\t\t\t\t12813\t\nBorrowings\t2640\t\t2745\t\t7913\t\t\t\t7579\t\nTotal interest expense\t6135\t\t7224\t\t19673\t\t\t\t20392\t\nNet interest income\t13409\t\t13154\t\t39184\t\t\t\t39071\t\nProvision (credit) for loan losses\t1025\t\t(80)\t\t6310\t\t\t\t(730)\t\nNet interest income after provision for loan losses\t12384\t\t13234\t\t32874\t\t\t\t39801\t\nNoninterest income:\t\t\t\t\t\t\t\t\t\t\nService charges on loans and deposits\t672\t\t503\t\t3384\t\t\t\t1272\t\nIncrease in cash surrender value of life insurance\t714\t\t728\t\t1587\t\t\t\t1579\t\nMortgage banking income\t72112\t\t36062\t\t166292\t\t\t\t93526\t\nOther\t2265\t\t201\t\t2868\t\t\t\t564\t\nTotal noninterest income\t75763\t\t37494\t\t174131\t\t\t\t96941\t\nNoninterest expenses:\t\t\t\t\t\t\t\t\t\t\nCompensation payroll taxes and other employee benefits\t39405\t\t27514\t\t100695\t\t\t\t75227\t\nOccupancy office furniture and equipment\t2469\t\t2629\t\t7744\t\t\t\t8085\t\nAdvertising\t861\t\t913\t\t2625\t\t\t\t2834\t\nData processing\t922\t\t1003\t\t3023\t\t\t\t2641\t\nCommunications\t339\t\t358\t\t994\t\t\t\t1039\t\nProfessional fees\t4738\t\t954\t\t7647\t\t\t\t2438\t\nReal estate owned\t11\t\t24\t\t55\t\t\t\t75\t\nLoan processing expense\t1336\t\t858\t\t3620\t\t\t\t2542\t\nOther\t2920\t\t1979\t\t9495\t\t\t\t6055\t\nTotal noninterest expenses\t53001\t\t36232\t\t135898\t\t\t\t100936\t\nIncome before income taxes\t35146\t\t14496\t\t71107\t\t\t\t35806\t\nIncome tax expense\t8853\t\t3572\t\t17797\t\t\t\t8697\t\nNet income\t26293\t10924\t\t53310\t\t\t\t27109\t\t\nIncome per share:\t\t\t\t\t\t\t\t\t\t\nBasic\t1.08\t0.42\t\t2.16\t\t\t\t1.04\t\t\nDiluted\t1.08\t0.42\t\t2.15\t\t\t\t1.03\t\t\nWeighted average shares outstanding:\t\t\t\t\t\t\t\t\t\t\nBasic\t24297\t\t25772\t\t24720\t\t\t\t26168\t\nDiluted\t24380\t\t25962\t\t24842\t\t\t\t26372\t\n", "q10k_tbl_4": "\tThree months ended September 30\tNine months ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n\t(In Thousands)\nNet income\t26293\t10924\t\t53310\t\t\t\t27109\t\t\nOther comprehensive (loss) income net of tax:\t\t\t\t\t\t\t\t\t\t\nNet unrealized holding (loss) gain on available for sale securities:\t\t\t\t\t\t\t\t\t\t\nNet unrealized holding (loss) gain arising during the period net of tax benefit (expense) of $41 $2 $(754) $(1125) respectively\t(104)\t\t(6)\t\t2013\t\t\t\t3010\t\nTotal other comprehensive (loss) income\t(104)\t\t(6)\t\t2013\t\t\t\t3010\t\nComprehensive income\t26189\t10918\t\t55323\t\t\t\t30119\t\t\n", "q10k_tbl_5": "\tCommon Stock\tAdditional Paid-In Capital\t\tRetained Earnings\t\tUnearned ESOP Shares\t\tAccumulated Other Comprehensive Income (Loss)\t\tTotal Shareholders' Equity\t\n\tShares\tAmount\t\t\t\t\t\t\t\t\t\t\t\t\t\nFor the nine months ended Septeber 30 2020\t(In Thousands except per share amounts)\nBalances at January 1 2020\t27148\t271\t\t211997\t\t197393\t\t(16617)\t\t642\t\t\t\t393686\t\t\nComprehensive income:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNet income\t0\t\t0\t\t0\t\t53310\t\t0\t\t0\t\t\t\t53310\t\nOther comprehensive income\t0\t\t0\t\t0\t\t0\t\t0\t\t2013\t\t\t\t2013\t\nTotal comprehensive income\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t55323\t\nESOP shares committed to be released to Plan participants\t0\t\t0\t\t327\t\t0\t\t890\t\t0\t\t\t\t1217\t\nCash dividend declared $0.86 per share\t0\t\t0\t\t0\t\t(21414)\t\t0\t\t0\t\t\t\t(21414)\t\nStock compensation activity net of tax\t222\t\t3\t\t2783\t\t0\t\t0\t\t0\t\t\t\t2786\t\nStock compensation expense\t0\t\t0\t\t553\t\t0\t\t0\t\t0\t\t\t\t553\t\nPurchase of common stock returned to authorized but unissued\t(2150)\t\t(22)\t\t(32700)\t\t0\t\t0\t\t0\t\t\t\t(32722)\t\nBalances at September 30 2020\t25220\t252\t\t182960\t\t229289\t\t(15727)\t\t2655\t\t\t\t399429\t\t\nFor the nine months ended September 30 2019\t(In Thousands except per share amounts)\nBalances at January 1 2019\t28463\t285\t\t232406\t\t187153\t\t(17804)\t\t(2361)\t\t\t\t399679\t\t\nComprehensive income:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNet income\t0\t\t0\t\t0\t\t27109\t\t0\t\t0\t\t\t\t27109\t\nOther comprehensive income\t0\t\t0\t\t0\t\t0\t\t0\t\t3010\t\t\t\t3010\t\nTotal comprehensive income\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t30119\t\nESOP shares committed to be released to Plan participants\t0\t\t0\t\t429\t\t0\t\t890\t\t0\t\t\t\t1319\t\nCash dividend declared $0.86 per share\t0\t\t0\t\t0\t\t(22582)\t\t0\t\t0\t\t\t\t(22582)\t\nStock based compensation activity\t47\t\t0\t\t603\t\t0\t\t0\t\t0\t\t\t\t603\t\nStock compensation expense\t0\t\t0\t\t832\t\t0\t\t0\t\t0\t\t\t\t832\t\nPurchase of common stock returned to authorized but unissued\t(1363)\t\t(14)\t\t(22713)\t\t0\t\t0\t\t0\t\t\t\t(22727)\t\nBalances at September 30 2019\t27147\t271\t\t211557\t\t191680\t\t(16914)\t\t649\t\t\t\t387243\t\t\n", "q10k_tbl_6": "\tCommon Stock\tAdditional Paid-In Capital\t\tRetained Earnings\t\tUnearned ESOP Shares\t\tAccumulated Other Comprehensive Income (Loss)\t\tTotal Shareholders' Equity\t\n\tShares\tAmount\t\t\t\t\t\t\t\t\t\t\t\t\t\nFor the three months ended Septeber 30 2020\t(In Thousands except per share amounts)\nBalances at July 1 2020\t25843\t258\t\t192762\t\t205863\t\t(16023)\t\t2759\t\t\t\t385619\t\t\nComprehensive income:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNet income\t0\t\t0\t\t0\t\t26293\t\t0\t\t0\t\t\t\t26293\t\nOther comprehensive loss\t0\t\t0\t\t0\t\t0\t\t0\t\t(104)\t\t\t\t(104)\t\nTotal comprehensive income\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t26189\t\nESOP shares committed to be released to Plan participants\t0\t\t0\t\t99\t\t0\t\t296\t\t0\t\t\t\t395\t\nCash dividend declared $0.12 per share\t0\t\t0\t\t0\t\t(2867)\t\t0\t\t0\t\t\t\t(2867)\t\nStock compensation activity net of tax\t177\t\t2\t\t2253\t\t0\t\t0\t\t0\t\t\t\t2255\t\nStock compensation expense\t0\t\t0\t\t164\t\t0\t\t0\t\t0\t\t\t\t164\t\nPurchase of common stock returned to authorized but unissued\t(800)\t\t(8)\t\t(12318)\t\t0\t\t0\t\t0\t\t\t\t(12326)\t\nBalances at September 30 2020\t25220\t252\t\t182960\t\t229289\t\t(15727)\t\t2655\t\t\t\t399429\t\t\nFor the three months ended September 30 2019\t(In Thousands except per share amounts)\nBalances at July 1 2019\t27626\t276\t\t219262\t\t183820\t\t(17210)\t\t655\t\t\t\t386803\t\t\nComprehensive income:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNet income\t0\t\t0\t\t0\t\t10924\t\t0\t\t0\t\t\t\t10924\t\nOther comprehensive loss\t0\t\t0\t\t0\t\t0\t\t0\t\t(6)\t\t\t\t(6)\t\nTotal comprehensive income\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t10918\t\nESOP shares committed to be released to Plan participants\t0\t\t0\t\t148\t\t0\t\t296\t\t0\t\t\t\t444\t\nCash dividend declared $0.12 per share\t0\t\t0\t\t0\t\t(3064)\t\t0\t\t0\t\t\t\t(3064)\t\nStock based compensation activity\t16\t\t0\t\t209\t\t0\t\t0\t\t0\t\t\t\t209\t\nStock compensation expense\t0\t\t0\t\t234\t\t0\t\t0\t\t0\t\t\t\t234\t\nPurchase of common stock returned to authorized but unissued\t(495)\t\t(5)\t\t(8296)\t\t0\t\t0\t\t0\t\t\t\t(8301)\t\nBalances at September 30 2019\t27147\t271\t\t211557\t\t191680\t\t(16914)\t\t649\t\t\t\t387243\t\t\n", "q10k_tbl_7": "\tNine months ended September 30\n\t2020\t\t2019\t\t\n\t(In Thousands)\nOperating activities:\t\t\t\t\t\nNet income\t53310\t\t\t27109\t\t\nAdjustments to reconcile net income to used in operating activities:\t\t\t\t\t\t\nProvision (credit) for loan losses\t6310\t\t\t\t(730)\t\nProvision for depreciation\t1901\t\t\t\t1829\t\nDeferred taxes\t(2445)\t\t\t\t1303\t\nStock based compensation\t553\t\t\t\t832\t\nNet amortization of premium/discount on debt and mortgage related securities\t102\t\t\t\t164\t\nAmortization of unearned ESOP shares\t1217\t\t\t\t1319\t\nAmortization and impairment of mortgage servicing rights\t774\t\t\t\t167\t\nGain on sale of loans held for sale\t(171374)\t\t\t\t(96024)\t\nLoans originated for sale\t(3063835)\t\t\t\t(2092948)\t\nProceeds on sales of loans originated for sale\t3069529\t\t\t\t2092816\t\nGain on death benefit on bank owned life insurance\t(1456)\t\t\t\t0\t\nDecrease (increase) in accrued interest receivable\t181\t\t\t\t(248)\t\nIncrease in cash surrender value of life insurance\t(1587)\t\t\t\t(1579)\t\n(Decrease) increase in accrued interest on deposits and borrowings\t(245)\t\t\t\t92\t\nDecrease in prepaid tax expense\t2794\t\t\t\t1812\t\nNet gain related to real estate owned\t(5)\t\t\t\t(20)\t\nChange in other assets and other liabilities\t(12074)\t\t\t\t(4185)\t\nNet cash used in operating activities\t(116350)\t\t\t\t(68291)\t\nInvesting activities:\t\t\t\t\t\t\nNet increase in loans receivable\t(46322)\t\t\t\t(7102)\t\nPurchases of:\t\t\t\t\t\t\nFHLB stock\t(5570)\t\t\t\t(2700)\t\nMortgage related securities\t(4455)\t\t\t\t(12121)\t\nDebt securities\t(5000)\t\t\t\t0\t\nBank owned life insurance\t(180)\t\t\t\t(180)\t\nPremises and equipment net\t(917)\t\t\t\t(2247)\t\nProceeds from:\t\t\t\t\t\t\nPrincipal repayments on mortgage-related securities\t33635\t\t\t\t21920\t\nMaturities of debt securities\t3760\t\t\t\t1835\t\nSales of real estate owned\t353\t\t\t\t1204\t\nProceeds from death benefit on bank owned life insurance\t9633\t\t\t\t0\t\nNet cash (used in) provided by investing activities\t(15063)\t\t\t\t609\t\nFinancing activities:\t\t\t\t\t\t\nNet increase in deposits\t116875\t\t\t\t1074\t\nNet change in short term borrowings\t68564\t\t\t\t40749\t\nRepayment of long term debt\t0\t\t\t\t(125000)\t\nProceeds from long term debt\t0\t\t\t\t165000\t\nCash paid for advance payments by borrowers for taxes\t9870\t\t\t\t10961\t\nCash dividends on common stock\t(21698)\t\t\t\t(22889)\t\nPurchase of common stock returned to authorized but unissued\t(32722)\t\t\t\t(22727)\t\nProceeds from stock option exercises\t2786\t\t\t\t603\t\nNet cash provided by financing activities\t143675\t\t\t\t47771\t\nIncrease (decrease) in cash and cash equivalents\t12262\t\t\t\t(19911)\t\nCash and cash equivalents at beginning of period\t74300\t\t\t\t86101\t\nCash and cash equivalents at end of period\t86562\t\t\t66190\t\t\nSupplemental information:\t\t\t\t\t\t\nCash paid or credited during the period for:\t\t\t\t\t\t\nIncome tax payments\t17448\t\t\t6709\t\t\nInterest payments\t19918\t\t\t\t20300\t\nNoncash activities:\t\t\t\t\t\t\nLoans receivable transferred to real estate owned\t369\t\t\t\t946\t\nDividends declared but not paid in other liabilities\t3217\t\t\t\t3492\t\n", "q10k_tbl_8": "\tSeptember 30 2020\n\tAmortized cost\t\tGross unrealized gains\t\t\t\tGross unrealized losses\t\t\t\tFair value\t\t\n\t(In Thousands)\nMortgage-backed securities\t24872\t\t\t1228\t\t\t\t0\t\t\t\t26100\t\t\nCollateralized mortgage obligations:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nGovernment sponsored enterprise issued\t57424\t\t\t\t2095\t\t\t\t0\t\t\t\t59519\t\nPrivate-label issued\t3595\t\t\t\t55\t\t\t\t0\t\t\t\t3650\t\nMortgage-related securities\t85891\t\t\t\t3378\t\t\t\t0\t\t\t\t89269\t\nGovernment sponsered enterprise bonds\t2500\t\t\t\t0\t\t\t\t(1)\t\t\t\t2499\t\nMunicipal securities\t47970\t\t\t\t2192\t\t\t\t0\t\t\t\t50162\t\nOther debt securities\t12500\t\t\t\t0\t\t\t\t(1229)\t\t\t\t11271\t\nDebt securities\t62970\t\t\t\t2192\t\t\t\t(1230)\t\t\t\t63932\t\n\t148861\t\t\t5570\t\t\t\t(1230)\t\t\t\t153201\t\t\n", "q10k_tbl_9": "\tDecember 31 2019\n\tAmortized cost\t\tGross unrealized gains\t\t\t\tGross unrealized losses\t\t\t\tFair value\t\t\n\t(In Thousands)\nMortgage-backed securities\t33773\t\t\t422\t\t\t\t(45)\t\t\t\t34150\t\t\nCollateralized mortgage obligations:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nGovernment sponsored enterprise issued\t81232\t\t\t\t776\t\t\t\t(254)\t\t\t\t81754\t\nMortgage-related securities\t115005\t\t\t\t1198\t\t\t\t(299)\t\t\t\t115904\t\nMunicipal securities\t51898\t\t\t\t1795\t\t\t\t(1)\t\t\t\t53692\t\nOther debt securities\t10000\t\t\t\t0\t\t\t\t(1120)\t\t\t\t8880\t\nDebt securities\t61898\t\t\t\t1795\t\t\t\t(1121)\t\t\t\t62572\t\n\t176903\t\t\t2993\t\t\t\t(1420)\t\t\t\t178476\t\t\n", "q10k_tbl_10": "\tAmortized Cost\tFair Value\t\n\t(In Thousands)\nDebt and other securities\t\t\t\nDue within one year\t5512\t5556\t\t\nDue after one year through five years\t36877\t\t37925\t\nDue after five years through ten years\t20581\t\t20451\t\nDue after ten years\t0\t\t0\t\nMortgage-related securities\t85891\t\t89269\t\n\t148861\t153201\t\t\n", "q10k_tbl_11": "\tSeptember 30 2020\n\tLess than 12 months\t\t12 months or longer\t\t\t\t\t\t\t\tTotal\t\t\t\t\t\t\n\tFair value\t\tUnrealized loss\t\t\t\tFair value\t\t\t\tUnrealized loss\t\t\t\tFair value\t\t\t\tUnrealized loss\t\t\n\t(In Thousands)\nMortgage-backed securities\t0\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\nCollateralized mortgage obligations:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nGovernment sponsored enterprise issued\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nPrivate label issued\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nGovernment sponsored enterprise bonds\t2499\t\t\t\t(1)\t\t\t\t0\t\t\t\t0\t\t\t\t2499\t\t\t\t(1)\t\nMunicipal securities\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nOther debt securities\t2476\t\t\t\t(24)\t\t\t\t8795\t\t\t\t(1205)\t\t\t\t11271\t\t\t\t(1229)\t\n\t4975\t\t\t(25)\t\t\t\t8795\t\t\t\t(1205)\t\t\t\t13770\t\t\t\t(1230)\t\t\n", "q10k_tbl_12": "\tDecember 31 2019\n\tLess than 12 months\t\t12 months or longer\t\t\t\t\t\t\t\tTotal\t\t\t\t\t\t\n\tFair value\t\tUnrealized loss\t\t\t\tFair value\t\t\t\tUnrealized loss\t\t\t\tFair value\t\t\t\tUnrealized loss\t\t\n\t(In Thousands)\nMortgage-backed securities\t2929\t\t\t(20)\t\t\t\t2849\t\t\t\t(25)\t\t\t\t5778\t\t\t\t(45)\t\t\nCollateralized mortgage obligations:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nGovernment sponsored enterprise issued\t21723\t\t\t\t(136)\t\t\t\t7180\t\t\t\t(118)\t\t\t\t28903\t\t\t\t(254)\t\nMunicipal securities\t100\t\t\t\t(1)\t\t\t\t0\t\t\t\t0\t\t\t\t100\t\t\t\t(1)\t\nOther debt securities\t0\t\t\t\t0\t\t\t\t8880\t\t\t\t(1120)\t\t\t\t8880\t\t\t\t(1120)\t\n\t24752\t\t\t(157)\t\t\t\t18909\t\t\t\t(1263)\t\t\t\t43661\t\t\t\t(1420)\t\t\n", "q10k_tbl_13": "\tSeptember 30 2020\tDecember 31 2019\t\n\t(In Thousands)\nMortgage loans:\t\t\t\nResidential real estate:\t\t\t\nOne- to four-family\t452491\t480280\t\t\nMulti-family\t599637\t\t584859\t\nHome equity\t15410\t\t18071\t\nConstruction and land\t66726\t\t37033\t\nCommercial real estate\t241248\t\t236703\t\nConsumer\t783\t\t832\t\nCommercial loans\t57837\t\t30253\t\n\t1434132\t1388031\t\t\n", "q10k_tbl_14": "As of September 30 2020\t\t\t\t\t\t\n1-59 Days Past Due (1)\t\t60-89 Days Past Due (2)\t90 Days or Greater\tTotal Past Due\tCurrent (3)\tTotal Loans\n(In Thousands)\t\t\t\t\t\t\nMortgage loans:\t\t\t\t\t\t\nResidential real estate:\t\t\t\t\t\t\nOne- to four-family\t1608\t0\t2647\t4255\t448236\t452491\nMulti-family\t0\t0\t314\t314\t599323\t599637\nHome equity\t50\t0\t40\t90\t15320\t15410\nConstruction and land\t0\t51\t0\t51\t66675\t66726\nCommercial real estate\t699\t0\t51\t750\t240498\t241248\nConsumer\t0\t0\t0\t0\t783\t783\nCommercial loans\t95\t0\t0\t95\t57742\t57837\nTotal\t2452\t51\t3052\t5555\t1428577\t1434132\n", "q10k_tbl_15": "As of December 31 2019\t\t\t\t\t\t\n1-59 Days Past Due (1)\t\t60-89 Days Past Due (2)\t90 Days or Greater\tTotal Past Due\tCurrent (3)\tTotal Loans\n(In Thousands)\t\t\t\t\t\t\nMortgage loans:\t\t\t\t\t\t\nResidential real estate:\t\t\t\t\t\t\nOne- to four-family\t1179\t638\t3969\t5786\t474494\t480280\nMulti-family\t0\t0\t360\t360\t584499\t584859\nHome equity\t0\t10\t0\t10\t18061\t18071\nConstruction and land\t0\t0\t0\t0\t37033\t37033\nCommercial real estate\t0\t0\t303\t303\t236400\t236703\nConsumer\t0\t0\t0\t0\t832\t832\nCommercial loans\t6\t0\t0\t6\t30247\t30253\nTotal\t1185\t648\t4632\t6465\t1381566\t1388031\n", "q10k_tbl_16": "\tOne- to Four- Family\tMulti-Family\t\tHome Equity\t\tConstruction and Land\t\tCommercial Real Estate\t\tConsumer\t\tCommercial\t\tTotal\t\n\t(In Thousands)\nNine months ended September 30 2020\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBalance at beginning of period\t4907\t4138\t\t201\t\t610\t\t2145\t\t14\t\t372\t\t12387\t\t\nProvision (credit) for loan losses\t854\t\t1703\t\t(6)\t\t1004\t\t2300\t\t33\t\t422\t\t6310\t\nCharge-offs\t(9)\t\t(5)\t\t(13)\t\t0\t\t0\t\t(10)\t\t0\t\t(37)\t\nRecoveries\t132\t\t17\t\t22\t\t2\t\t11\t\t0\t\t0\t\t184\t\nBalance at end of period\t5884\t5853\t\t204\t\t1616\t\t4456\t\t37\t\t794\t\t18844\t\t\n", "q10k_tbl_17": "Nine months ended September 30 2019\t\t\t\t\t\t\t\t\nBalance at beginning of period\t5742\t4153\t325\t400\t2126\t20\t483\t13249\nProvision (credit) for loan losses\t(488)\t(19)\t(89)\t157\t(200)\t(1)\t(90)\t(730)\nCharge-offs\t(69)\t(2)\t(44)\t0\t(2)\t(5)\t0\t(122)\nRecoveries\t116\t13\t19\t0\t2\t0\t0\t150\nBalance at end of period\t5301\t4145\t211\t557\t1926\t14\t393\t12547\n", "q10k_tbl_18": "\tOne- to Four- Family\tMulti-Family\t\tHome Equity\t\tConstruction and Land\t\tCommercial Real Estate\t\tConsumer\t\tCommercial\t\tTotal\t\n\t(In Thousands)\nThree months ended September 30 2020\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBalance at beginning of period\t5715\t5870\t\t218\t\t1153\t\t4124\t\t38\t\t616\t\t17734\t\t\nProvision (credit) for loan losses\t100\t\t(25)\t\t(18)\t\t462\t\t328\t\t0\t\t178\t\t1025\t\nCharge-offs\t(2)\t\t0\t\t0\t\t0\t\t0\t\t(1)\t\t0\t\t(3)\t\nRecoveries\t71\t\t8\t\t4\t\t1\t\t4\t\t0\t\t0\t\t88\t\nBalance at end of period\t5884\t5853\t\t204\t\t1616\t\t4456\t\t37\t\t794\t\t18844\t\t\n", "q10k_tbl_19": "Three months ended September 30 2019\t\t\t\t\t\t\t\t\nBalance at beginning of period\t5303\t4315\t275\t412\t1913\t12\t387\t12617\nProvision (credit) for loan losses\t(39)\t(173)\t(35)\t145\t14\t2\t6\t(80)\nCharge-offs\t(44)\t(1)\t(36)\t0\t(2)\t0\t0\t(83)\nRecoveries\t81\t4\t7\t0\t1\t0\t0\t93\nBalance at end of period\t5301\t4145\t211\t557\t1926\t14\t393\t12547\n", "q10k_tbl_20": "\tOne- to Four- Family\tMulti- Family\t\tHome Equity\t\tConstruction and Land\t\tCommercial Real Estate\t\tConsumer\t\tCommercial\t\tTotal\t\n\t(In Thousands)\nAllowance related to loans individually evaluated for impairment\t24\t0\t\t0\t\t0\t\t0\t\t0\t\t0\t\t24\t\t\nAllowance related to loans collectively evaluated for impairment\t5860\t\t5853\t\t204\t\t1616\t\t4456\t\t37\t\t794\t\t18820\t\nBalance at end of period\t5884\t5853\t\t204\t\t1616\t\t4456\t\t37\t\t794\t\t18844\t\t\nLoans individually evaluated for impairment\t8035\t616\t\t75\t\t0\t\t6037\t\t0\t\t0\t\t14763\t\t\nLoans collectively evaluated for impairment\t444456\t\t599021\t\t15335\t\t66726\t\t235211\t\t783\t\t57837\t\t1419369\t\nTotal gross loans\t452491\t599637\t\t15410\t\t66726\t\t241248\t\t783\t\t57837\t\t1434132\t\t\n", "q10k_tbl_21": "\tOne- to Four-Family\tMulti- Family\t\tHome Equity\t\tConstruction and Land\t\tCommercial Real Estate\t\tConsumer\t\tCommercial\t\tTotal\t\n\t(In Thousands)\nAllowance related to loans individually evaluated for impairment\t32\t0\t\t0\t\t0\t\t7\t\t0\t\t0\t\t39\t\t\nAllowance related to loans collectively evaluated for impairment\t4875\t\t4138\t\t201\t\t610\t\t2138\t\t14\t\t372\t\t12348\t\nBalance at end of period\t4907\t4138\t\t201\t\t610\t\t2145\t\t14\t\t372\t\t12387\t\t\nLoans individually evaluated for impairment\t8725\t667\t\t84\t\t0\t\t581\t\t0\t\t0\t\t10057\t\t\nLoans collectively evaluated for impairment\t471555\t\t584192\t\t17987\t\t37033\t\t236122\t\t832\t\t30253\t\t1377974\t\nTotal gross loans\t480280\t584859\t\t18071\t\t37033\t\t236703\t\t832\t\t30253\t\t1388031\t\t\n", "q10k_tbl_22": "\tOne to Four- Family\tMulti-Family\t\tHome Equity\t\tConstruction and Land\t\tCommercial Real Estate\t\tConsumer\t\tCommercial\t\tTotal\t\n\t(In Thousands)\nAt September 30 2020\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSubstandard\t8035\t616\t\t261\t\t0\t\t325\t\t0\t\t721\t\t9958\t\t\nWatch\t6983\t\t0\t\t6\t\t4330\t\t12193\t\t0\t\t4242\t\t27754\t\nPass\t437473\t\t599021\t\t15143\t\t62396\t\t228730\t\t783\t\t52874\t\t1396420\t\n\t452491\t599637\t\t15410\t\t66726\t\t241248\t\t783\t\t57837\t\t1434132\t\t\nAt December 31 2019\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSubstandard\t8725\t668\t\t285\t\t0\t\t581\t\t0\t\t754\t\t11013\t\t\nWatch\t5975\t\t0\t\t3\t\t0\t\t1412\t\t0\t\t847\t\t8237\t\nPass\t465580\t\t584191\t\t17783\t\t37033\t\t234710\t\t832\t\t28652\t\t1368781\t\n\t480280\t584859\t\t18071\t\t37033\t\t236703\t\t832\t\t30253\t\t1388031\t\t\n", "q10k_tbl_23": "\tAs of September 30 2020\n\tRecorded Investment\t\tUnpaid Principal\t\t\t\tReserve\t\t\t\tCumulative Charge-Offs\t\t\n\t(In Thousands)\nTotal Impaired with Reserve\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t210\t\t\t210\t\t\t\t24\t\t\t\t0\t\t\nMulti-family\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nHome equity\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t210\t\t\t\t210\t\t\t\t24\t\t\t\t0\t\nTotal Impaired with no Reserve\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t7825\t\t\t\t8820\t\t\t\t0\t\t\t\t995\t\nMulti-family\t616\t\t\t\t1427\t\t\t\t0\t\t\t\t811\t\nHome equity\t75\t\t\t\t75\t\t\t\t0\t\t\t\t0\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t6037\t\t\t\t6037\t\t\t\t0\t\t\t\t0\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t14553\t\t\t\t16359\t\t\t\t0\t\t\t\t1806\t\nTotal Impaired\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t8035\t\t\t\t9030\t\t\t\t24\t\t\t\t995\t\nMulti-family\t616\t\t\t\t1427\t\t\t\t0\t\t\t\t811\t\nHome equity\t75\t\t\t\t75\t\t\t\t0\t\t\t\t0\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t6037\t\t\t\t6037\t\t\t\t0\t\t\t\t0\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t14763\t\t\t16569\t\t\t\t24\t\t\t\t1806\t\t\n", "q10k_tbl_24": "\tAs of December 31 2019\n\tRecorded Investment\t\tUnpaid Principal\t\t\t\tReserve\t\t\t\tCumulative Charge-Offs\t\t\n\t(In Thousands)\nTotal Impaired with Reserve\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t217\t\t\t217\t\t\t\t32\t\t\t\t0\t\t\nMulti-family\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nHome equity\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t7\t\t\t\t416\t\t\t\t7\t\t\t\t409\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t224\t\t\t\t633\t\t\t\t39\t\t\t\t409\t\nTotal Impaired with no Reserve\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t8508\t\t\t\t9531\t\t\t\t0\t\t\t\t1023\t\nMulti-family\t667\t\t\t\t1491\t\t\t\t0\t\t\t\t824\t\nHome equity\t84\t\t\t\t84\t\t\t\t0\t\t\t\t0\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t574\t\t\t\t574\t\t\t\t0\t\t\t\t0\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t9833\t\t\t\t11680\t\t\t\t0\t\t\t\t1847\t\nTotal Impaired\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t8725\t\t\t\t9748\t\t\t\t32\t\t\t\t1023\t\nMulti-family\t667\t\t\t\t1491\t\t\t\t0\t\t\t\t824\t\nHome equity\t84\t\t\t\t84\t\t\t\t0\t\t\t\t0\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t581\t\t\t\t990\t\t\t\t7\t\t\t\t409\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t10057\t\t\t12313\t\t\t\t39\t\t\t\t2256\t\t\n", "q10k_tbl_25": "\tNine months ended September 30\n\t2020\t\t2019\t\t\t\t\t\t\n\tAverage Recorded Investment\t\tInterest Paid\t\t\t\tAverage Recorded Investment\t\t\t\tInterest Paid\t\t\n\t(In Thousands)\nTotal Impaired with Reserve\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t214\t\t\t12\t\t\t\t265\t\t\t\t11\t\t\nMulti-family\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nHome equity\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t0\t\t\t\t0\t\t\t\t11\t\t\t\t0\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t214\t\t\t\t12\t\t\t\t276\t\t\t\t11\t\nTotal Impaired with no Reserve\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t7986\t\t\t\t353\t\t\t\t7779\t\t\t\t358\t\nMulti-family\t643\t\t\t\t61\t\t\t\t715\t\t\t\t60\t\nHome equity\t78\t\t\t\t3\t\t\t\t129\t\t\t\t6\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t6059\t\t\t\t208\t\t\t\t660\t\t\t\t19\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t14766\t\t\t\t625\t\t\t\t9283\t\t\t\t443\t\nTotal Impaired\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t8200\t\t\t\t365\t\t\t\t8044\t\t\t\t369\t\nMulti-family\t643\t\t\t\t61\t\t\t\t715\t\t\t\t60\t\nHome equity\t78\t\t\t\t3\t\t\t\t129\t\t\t\t6\t\nConstruction and land\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial real estate\t6059\t\t\t\t208\t\t\t\t671\t\t\t\t19\t\nConsumer\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\n\t14980\t\t\t637\t\t\t\t9559\t\t\t\t454\t\t\n", "q10k_tbl_26": "\tAs of September 30 2020\n\tAccruing\tNon-accruing\t\tTotal\t\n\tAmount\t\tNumber\t\t\tAmount\t\t\tNumber\t\t\tAmount\t\t\tNumber\t\t\n(Dollars in Thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t2736\t\t\t\t2\t\t\t564\t\t\t\t\t4\t\t\t3300\t\t\t\t\t6\t\nMulti-family\t0\t\t\t\t0\t\t\t\t272\t\t\t\t2\t\t\t\t272\t\t\t\t2\t\nCommercial real estate\t5986\t\t\t\t2\t\t\t\t0\t\t\t\t0\t\t\t\t5986\t\t\t\t2\t\n\t8722\t\t\t\t4\t\t\t836\t\t\t\t\t6\t\t\t9558\t\t\t\t\t10\t\n", "q10k_tbl_27": "\tAs of December 31 2019\n\tAccruing\tNon-accruing\t\tTotal\t\n\tAmount\t\tNumber\t\t\tAmount\t\t\tNumber\t\t\tAmount\t\t\tNumber\t\t\n(Dollars in Thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOne- to four-family\t2740\t\t\t\t2\t\t\t685\t\t\t\t\t5\t\t\t3425\t\t\t\t\t7\t\nMulti-family\t0\t\t\t\t0\t\t\t\t308\t\t\t\t2\t\t\t\t308\t\t\t\t2\t\nCommercial real estate\t278\t\t\t\t1\t\t\t\t7\t\t\t\t1\t\t\t\t285\t\t\t\t2\t\n\t3018\t\t\t\t3\t\t\t1000\t\t\t\t\t8\t\t\t4018\t\t\t\t\t11\t\n", "q10k_tbl_28": "\tAs of September 30 2020\nPerforming in accordance with modified terms\t\t\t\t\t\t\t\tIn Default\t\t\t\t\t\t\t\tTotal\t\t\t\t\t\t\nAmount\t\t\t\tNumber\t\t\t\tAmount\t\t\t\tNumber\t\t\t\tAmount\t\t\t\tNumber\t\t\n(Dollars in Thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nInterest reduction and principal forbearance\t3535\t\t\t\t6\t\t\t0\t\t\t\t\t0\t\t\t3535\t\t\t\t\t6\t\nInterest reduction\t311\t\t\t\t3\t\t\t\t0\t\t\t\t0\t\t\t\t311\t\t\t\t3\t\nPrincipal forbearance\t5712\t\t\t\t1\t\t\t\t0\t\t\t\t0\t\t\t\t5712\t\t\t\t1\t\n\t9558\t\t\t\t10\t\t\t0\t\t\t\t\t0\t\t\t9558\t\t\t\t\t10\t\n", "q10k_tbl_29": "\tAs of December 31 2019\nPerforming in accordance with modified terms\t\t\t\t\t\t\t\tIn Default\t\t\t\t\t\t\t\tTotal\t\t\t\t\t\t\nAmount\t\t\t\tNumber\t\t\t\tAmount\t\t\t\tNumber\t\t\t\tAmount\t\t\t\tNumber\t\t\n(Dollars in Thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nInterest reduction and principal forbearance\t3246\t\t\t\t6\t\t\t448\t\t\t\t\t2\t\t\t3694\t\t\t\t\t8\t\nInterest reduction\t324\t\t\t\t3\t\t\t\t0\t\t\t\t0\t\t\t\t324\t\t\t\t3\t\n\t3570\t\t\t\t9\t\t\t448\t\t\t\t\t2\t\t\t4018\t\t\t\t\t11\t\n", "q10k_tbl_30": "\tSeptember 30 2020\tDecember 31 2019\t\n\t(Dollars in Thousands)\nNon-accrual loans:\t\t\t\nResidential real estate:\t\t\t\nOne- to four-family\t5299\t5985\t\t\nMulti-family\t616\t\t667\t\nHome equity\t75\t\t70\t\nConstruction and land\t0\t\t0\t\nCommercial real estate\t51\t\t303\t\nCommercial\t0\t\t0\t\nConsumer\t0\t\t0\t\nTotal non-accrual loans\t6041\t7025\t\t\nTotal non-accrual loans to total loans receivable\t0.42%\t\t0.51%\t\nTotal non-accrual loans to total assets\t0.27%\t\t0.35%\t\n", "q10k_tbl_31": "\tSeptember 30 2020\tDecember 31 2019\t\n\t(In Thousands)\nOne- to four-family\t70\t46\t\t\nMulti-family\t0\t\t0\t\nConstruction and land\t1256\t\t1256\t\nCommercial real estate\t0\t\t0\t\nTotal real estate owned\t1326\t\t1302\t\nValuation allowance at end of period\t(554)\t\t(554)\t\nTotal real estate owned net\t772\t748\t\t\n", "q10k_tbl_32": "\tNine months ended September 30\n\t2020\t\t2019\t\t\n\t(In Thousands)\nReal estate owned at beginning of the period\t748\t\t\t2152\t\t\nTransferred from loans receivable\t369\t\t\t\t946\t\nSales (net of gains / losses)\t(345)\t\t\t\t(1201)\t\nWrite downs\t0\t\t\t\t0\t\nOther\t0\t\t\t\t(10)\t\nReal estate owned at the end of the period\t772\t\t\t1887\t\t\n", "q10k_tbl_33": "\tNine months ended September 30\n\t2020\t\t2019\t\t\n\t(In Thousands)\nMortgage servicing rights at beginning of the period\t282\t\t\t109\t\t\nAdditions\t8936\t\t\t\t225\t\nAmortization\t(754)\t\t\t\t(68)\t\nSales\t0\t\t\t\t0\t\nMortgage servicing rights at end of the period\t8464\t\t\t\t266\t\nValuation allowance during the period\t(42)\t\t\t\t(99)\t\nMortgage servicing rights at end of the period net\t8422\t\t\t167\t\t\n", "q10k_tbl_34": "Estimate for the period ending December 31:\t(In Thousands)\n2020\t596\t\n2021\t2609\t\n2022\t1550\t\n2023\t1374\t\n2024\t940\t\nThereafter\t1353\t\nTotal\t8422\t\n", "q10k_tbl_35": "\t(In Thousands)\nWithin one year\t701230\t\nMore than one to two years\t38658\t\nMore than two to three years\t2430\t\nMore than three to four years\t686\t\nMore than four through five years\t1146\t\n\t744150\t\n", "q10k_tbl_36": "\tSeptember 30 2020\tDecember 31 2019\t\t\t\n\tBalance\tWeighted Average Rate\t\tBalance\t\t\tWeighted Average Rate\t\t\n\t(Dollars in Thousands)\nShort term:\t\t\t\t\t\t\t\t\t\nRepurchase agreement\t48126\t\t3.25%\t13562\t\t\t\t\t4.66%\t\nFederal Home Loan Bank Chicago\t34000\t\t0.13%\t\t0\t\t\t\t0\t\nLong term:\t\t\t\t\t\t\t\t\t\t\nFederal Home Loan Bank Chicago advances maturing:\t\t\t\t\t\t\t\t\t\t\n2027\t50000\t\t1.73%\t\t50000\t\t\t\t1.73%\t\n2028\t255000\t\t2.37%\t\t255000\t\t\t\t2.37%\t\n2029\t165000\t\t1.61%\t\t165000\t\t\t\t1.61%\t\n\t552126\t\t2.02%\t483562\t\t\t\t\t2.11%\t\n", "q10k_tbl_37": "\tSeptember 30 2020\n\tActual\t\tFor Capital Adequacy Purposes\t\t\t\t\t\t\t\tMinimum Capital Adequacy with Capital Buffer\t\t\t\t\t\t\t\tTo Be Well Capitalized Under Prompt Corrective Action Provisions\t\t\t\t\t\t\n\tAmount\t\tRatio\t\t\t\tAmount\t\t\t\tRatio\t\t\t\tAmount\t\t\t\tRatio\t\t\t\tAmount\t\t\t\tRatio\t\t\n\t(Dollars In Thousands)\nTotal Capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nConsolidated Waterstone Financial Inc.\t414966\t\t\t\t23.82%\t\t\t139342\t\t\t\t\t8.00%\t\t\t182886\t\t\t\t\t10.50%\t\t\tN/A\t\t\t\t\tN/A\t\nWaterStone Bank\t388156\t\t\t\t22.29%\t\t\t\t139342\t\t\t\t8.00%\t\t\t\t182886\t\t\t\t10.50%\t\t\t\t174177\t\t\t\t10.00%\t\nTier 1 Capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nConsolidated Waterstone Financial Inc.\t396122\t\t\t\t22.74%\t\t\t\t104506\t\t\t\t6.00%\t\t\t\t148051\t\t\t\t8.50%\t\t\t\tN/A\t\t\t\tN/A\t\nWaterStone Bank\t369312\t\t\t\t21.20%\t\t\t\t104506\t\t\t\t6.00%\t\t\t\t148051\t\t\t\t8.50%\t\t\t\t139342\t\t\t\t8.00%\t\nCommon Equity Tier 1 Capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nConsolidated Waterstone Financial Inc.\t396122\t\t\t\t22.74%\t\t\t\t78380\t\t\t\t4.50%\t\t\t\t121924\t\t\t\t7.00%\t\t\t\tN/A\t\t\t\tN/A\t\nWaterStone Bank\t369312\t\t\t\t21.20%\t\t\t\t78380\t\t\t\t4.50%\t\t\t\t121924\t\t\t\t7.00%\t\t\t\t113215\t\t\t\t6.50%\t\nTier 1 Capital (to average assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nConsolidated Waterstone Financial Inc.\t396122\t\t\t\t18.09%\t\t\t\t87571\t\t\t\t4.00%\t\t\t\tN/A\t\t\t\tN/A\t\t\t\tN/A\t\t\t\tN/A\t\nWaterStone Bank\t369312\t\t\t\t16.87%\t\t\t\t87571\t\t\t\t4.00%\t\t\t\tN/A\t\t\t\tN/A\t\t\t\t109464\t\t\t\t5.00%\t\nState of Wisconsin (to total assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nWaterStone Bank\t369312\t\t\t\t16.64%\t\t\t\t133135\t\t\t\t6.00%\t\t\t\tN/A\t\t\t\tN/A\t\t\t\tN/A\t\t\t\tN/A\t\n", "q10k_tbl_38": "\tDecember 31 2019\n\tActual\t\tFor Capital Adequacy Purposes\t\t\t\t\t\t\t\tMinimum Capital Adequacy with Capital Buffer\t\t\t\t\t\t\t\tTo Be Well Capitalized Under Prompt Corrective Action Provisions\t\t\t\t\t\t\n\tAmount\t\tRatio\t\t\t\tAmount\t\t\t\tRatio\t\t\t\tAmount\t\t\t\tRatio\t\t\t\tAmount\t\t\t\tRatio\t\t\n\t(Dollars In Thousands)\nTotal Capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nConsolidated Waterstone Financial Inc.\t404748\t\t\t\t26.17%\t\t\t123731\t\t\t\t\t8.00%\t\t\t162398\t\t\t\t\t10.50%\t\t\tN/A\t\t\t\t\tN/A\t\nWaterStone Bank\t353357\t\t\t\t22.85%\t\t\t\t123716\t\t\t\t8.00%\t\t\t\t162378\t\t\t\t10.50%\t\t\t\t154646\t\t\t\t10.00%\t\nTier 1 Capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nConsolidated Waterstone Financial Inc.\t392361\t\t\t\t25.37%\t\t\t\t92799\t\t\t\t6.00%\t\t\t\t131465\t\t\t\t8.50%\t\t\t\tN/A\t\t\t\tN/A\t\nWaterStone Bank\t340970\t\t\t\t22.05%\t\t\t\t92787\t\t\t\t6.00%\t\t\t\t131449\t\t\t\t8.50%\t\t\t\t123716\t\t\t\t8.00%\t\nCommon Equity Tier 1 Capital (to risk-weighted assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nConsolidated Waterstone Financial Inc.\t392361\t\t\t\t25.37%\t\t\t\t69599\t\t\t\t4.50%\t\t\t\t108265\t\t\t\t7.00%\t\t\t\tN/A\t\t\t\tN/A\t\nWaterStone Bank\t340970\t\t\t\t22.05%\t\t\t\t69590\t\t\t\t4.50%\t\t\t\t108252\t\t\t\t7.00%\t\t\t\t100520\t\t\t\t6.50%\t\nTier 1 Capital (to average assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nConsolidated Waterstone Financial Inc.\t392361\t\t\t\t19.69%\t\t\t\t79691\t\t\t\t4.00%\t\t\t\tN/A\t\t\t\tN/A\t\t\t\tN/A\t\t\t\tN/A\t\nWaterStone Bank\t340970\t\t\t\t17.11%\t\t\t\t79691\t\t\t\t4.00%\t\t\t\tN/A\t\t\t\tN/A\t\t\t\t99614\t\t\t\t5.00%\t\nState of Wisconsin (to total assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nWaterStone Bank\t340970\t\t\t\t17.11%\t\t\t\t119590\t\t\t\t6.00%\t\t\t\tN/A\t\t\t\tN/A\t\t\t\tN/A\t\t\t\tN/A\t\n", "q10k_tbl_39": "\tSeptember 30 2020\tDecember 31 2019\t\n\t(In Thousands)\nFinancial instruments whose contract amounts represent potential credit risk:\t\t\t\nCommitments to extend credit under amortizing loans (1)\t18290\t13389\t\t\nCommitments to extend credit under home equity lines of credit (2)\t13742\t\t13776\t\nUnused portion of construction loans (3)\t77017\t\t90439\t\nUnused portion of business lines of credit\t19558\t\t14623\t\nStandby letters of credit\t1296\t\t885\t\n", "q10k_tbl_40": "\tThree months ended September 30\tNine months ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n\t(In Thousands except per share amounts)\nNet income\t26293\t10924\t\t53310\t\t\t\t27109\t\t\nWeighted average shares outstanding\t24297\t\t25772\t\t24720\t\t\t\t26168\t\nEffect of dilutive potential common shares\t83\t\t190\t\t122\t\t\t\t204\t\nDiluted weighted average shares outstanding\t24380\t\t25962\t\t24842\t\t\t\t26372\t\nBasic earnings per share\t1.08\t0.42\t\t2.16\t\t\t\t1.04\t\t\nDiluted earnings per share\t1.08\t0.42\t\t2.15\t\t\t\t1.03\t\t\n", "q10k_tbl_41": "\t\tFair Value Measurements Using\t\t\t\t\t\n\tSeptember 30 2020\tLevel 1\t\tLevel 2\t\tLevel 3\t\n\t(In Thousands)\nAssets\t\t\t\t\t\t\t\nAvailable-for-sale securities\t\t\t\t\t\t\t\nMortgage-backed securities\t26100\t0\t\t26100\t\t0\t\t\nCollateralized mortgage obligations\t\t\t\t\t\t\t\t\nGovernment sponsored enterprise issued\t59519\t\t0\t\t59519\t\t0\t\nPrivate-label issued\t3650\t\t0\t\t3650\t\t0\t\nGovernment sponsored enterprise bonds\t2499\t\t0\t\t2499\t\t0\t\nMunicipal securities\t50162\t\t0\t\t50162\t\t0\t\nOther debt securities\t11271\t\t0\t\t11271\t\t0\t\nLoans held for sale\t385803\t\t0\t\t385803\t\t0\t\nMortgage banking derivative assets\t12600\t\t0\t\t0\t\t12600\t\nInterest rate swap assets\t5794\t\t0\t\t5794\t\t0\t\nLiabilities\t\t\t\t\t\t\t\t\nMortgage banking derivative liabilities\t445\t\t0\t\t0\t\t445\t\nInterest rate swap liabilities\t5794\t\t0\t\t5794\t\t0\t\n", "q10k_tbl_42": "\t\tFair Value Measurements Using\t\t\t\t\t\n\tDecember 31 2019\tLevel 1\t\tLevel 2\t\tLevel 3\t\n\t(In Thousands)\nAssets\t\t\t\t\t\t\t\nAvailable-for-sale securities\t\t\t\t\t\t\t\nMortgage-backed securities\t34150\t0\t\t34150\t\t0\t\t\nCollateralized mortgage obligations\t\t\t\t\t\t\t\t\nGovernment sponsored enterprise issued\t81754\t\t0\t\t81754\t\t0\t\nMunicipal securities\t53692\t\t0\t\t53692\t\t0\t\nOther debt securities\t8880\t\t0\t\t8880\t\t0\t\nLoans held for sale\t220123\t\t0\t\t220123\t\t0\t\nMortgage banking derivative assets\t1835\t\t0\t\t0\t\t1835\t\nInterest rate swap assets\t680\t\t0\t\t680\t\t0\t\nLiabilities\t\t\t\t\t\t\t\t\nMortgage banking derivative liabilities\t0\t\t0\t\t0\t\t0\t\nInterest rate swap liabilities\t680\t\t0\t\t680\t\t0\t\n", "q10k_tbl_43": "\tNine months ended September 30\n\t2020\t\t2019\t\t\n\t(In Thousands)\nMortgage derivative net balance at the beginning of the period\t1835\t\t\t898\t\t\nMortgage derivative gain net\t10320\t\t\t\t2345\t\nMortgage derivative net balance at the end of the period\t12155\t\t\t3243\t\t\n", "q10k_tbl_44": "\t\tFair Value Measurements Using\t\t\t\t\t\n\tSeptember 30 2020\tLevel 1\t\tLevel 2\t\tLevel 3\t\n\t(In Thousands)\nImpaired loans net (1)\t186\t0\t\t0\t\t186\t\t\nReal estate owned\t772\t\t0\t\t0\t\t772\t\nImpaired mortgage servicing rights\t235\t\t0\t\t0\t\t235\t\n", "q10k_tbl_45": "\t\tFair Value Measurements Using\t\t\t\t\t\n\tDecember 31 2019\tLevel 1\t\tLevel 2\t\tLevel 3\t\n\t(In Thousands)\nImpaired loans net (1)\t185\t0\t\t0\t\t185\t\t\nReal estate owned\t748\t\t0\t\t0\t\t748\t\nImpaired mortgage servicing rights\t206\t\t0\t\t0\t\t206\t\n", "q10k_tbl_46": "\t\t\tSignificant Unobservable Input Value\t\n\tFair Value at September 30 2020\tValuation Technique Significant Unobservable Inputs\tMinimum Value\t\t\tMaximum Value\t\t\t\tWeighted Average\t\t\nMortgage banking derivatives net\t12155\tPricing models\tPull through rate\t\t12.0%\t\t\t\t95.0%\t\t\t\t86.0%\t\nImpaired loans\t186\tMarket approach\tDiscount rates applied to appraisals\t\t15.0%\t\t\t\t15.0%\t\t\t\t15.0%\t\nReal estate owned\t772\tMarket approach\tDiscount rates applied to appraisals\t\t13.0%\t\t\t\t59.0%\t\t\t\t48.0%\t\nMortgage servicing rights\t235\tPricing models\tPrepayment rate\t\t7.9%\t\t\t\t36.4%\t\t\t\t15.2%\t\n\t\t\tDiscount rate\t\t9.5%\t\t\t\t14.3%\t\t\t\t10.0%\t\n\t\t\tCost to service\t76.46\t\t\t\t164.13\t\t\t\t83.17\t\t\n", "q10k_tbl_47": "\tSeptember 30 2020\tDecember 31 2019\t\t\t\t\t\t\t\t\t\n\tCarrying amount\tFair Value\t\t\t\t\t\t\t\tCarrying amount\t\t\tFair Value\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\tTotal\tLevel 1\t\tLevel 2\t\tLevel 3\t\tTotal\t\tLevel 1\t\t\tLevel 2\t\t\t\tLevel 3\t\t\n\t(In Thousands)\nFinancial Assets\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCash and cash equivalents\t86562\t86562\t\t86562\t\t0\t\t0\t\t74300\t\t\t\t74300\t\t\t\t65800\t\t\t\t8500\t\t\t\t0\t\t\nSecurities available-for-sale\t153201\t\t153201\t\t0\t\t153201\t\t0\t\t178476\t\t\t\t178476\t\t\t\t0\t\t\t\t178476\t\t\t\t0\t\nLoans held for sale\t385803\t\t385803\t\t0\t\t385803\t\t0\t\t220123\t\t\t\t220123\t\t\t\t0\t\t\t\t220123\t\t\t\t0\t\nLoans receivable\t1434132\t\t1448660\t\t0\t\t0\t\t1448660\t\t1388031\t\t\t\t1426224\t\t\t\t0\t\t\t\t0\t\t\t\t1426224\t\nFHLB stock\t26720\t\t26720\t\t0\t\t26720\t\t0\t\t21150\t\t\t\t21150\t\t\t\t0\t\t\t\t21150\t\t\t\t0\t\nAccrued interest receivable\t5163\t\t5163\t\t5163\t\t0\t\t0\t\t5344\t\t\t\t5344\t\t\t\t5344\t\t\t\t0\t\t\t\t0\t\nMortgage servicing rights\t8422\t\t9926\t\t0\t\t0\t\t9926\t\t282\t\t\t\t282\t\t\t\t0\t\t\t\t0\t\t\t\t282\t\nMortgage banking derivative assets\t12600\t\t12600\t\t0\t\t0\t\t12600\t\t1835\t\t\t\t1835\t\t\t\t0\t\t\t\t0\t\t\t\t1835\t\nInterest rate swap asset\t5794\t\t5794\t\t0\t\t5794\t\t0\t\t680\t\t\t\t680\t\t\t\t0\t\t\t\t680\t\t\t\t0\t\nFinancial Liabilities\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDeposits\t1184651\t\t1185424\t\t440501\t\t744923\t\t0\t\t1067776\t\t\t\t1070083\t\t\t\t328005\t\t\t\t742078\t\t\t\t0\t\nAdvance payments by borrowers for taxes\t25987\t\t25987\t\t25987\t\t0\t\t0\t\t4212\t\t\t\t4212\t\t\t\t4212\t\t\t\t0\t\t\t\t0\t\nBorrowings\t552126\t\t572521\t\t0\t\t572521\t\t0\t\t483562\t\t\t\t483846\t\t\t\t0\t\t\t\t483846\t\t\t\t0\t\nAccrued interest payable\t1314\t\t1314\t\t1314\t\t0\t\t0\t\t1559\t\t\t\t1559\t\t\t\t1559\t\t\t\t0\t\t\t\t0\t\nMortgage banking derivative liabilities\t445\t\t445\t\t0\t\t0\t\t445\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\t\t\t0\t\nInterest rate swap liability\t5794\t\t5794\t\t0\t\t5794\t\t0\t\t680\t\t\t\t680\t\t\t\t0\t\t\t\t680\t\t\t\t0\t\n", "q10k_tbl_48": "\tAs of or for the three months ended September 30 2020\n\tCommunity Banking\t\tMortgage Banking\t\t\t\tHolding Company and Other\t\t\t\tConsolidated\t\t\n\t(In Thousands)\nNet interest income (expense)\t13461\t\t\t(58)\t\t\t\t6\t\t\t\t13409\t\t\nProvision for loan losses\t1000\t\t\t\t25\t\t\t\t0\t\t\t\t1025\t\nNet interest income (expense) after provision for loan losses\t12461\t\t\t\t(83)\t\t\t\t6\t\t\t\t12384\t\nNoninterest income\t3104\t\t\t\t73143\t\t\t\t(484)\t\t\t\t75763\t\nNoninterest expenses:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCompensation payroll taxes and other employee benefits\t5000\t\t\t\t34559\t\t\t\t(154)\t\t\t\t39405\t\nOccupancy office furniture and equipment\t874\t\t\t\t1595\t\t\t\t0\t\t\t\t2469\t\nAdvertising\t252\t\t\t\t609\t\t\t\t0\t\t\t\t861\t\nData processing\t490\t\t\t\t426\t\t\t\t6\t\t\t\t922\t\nCommunications\t113\t\t\t\t226\t\t\t\t0\t\t\t\t339\t\nProfessional fees\t266\t\t\t\t4465\t\t\t\t7\t\t\t\t4738\t\nReal estate owned\t11\t\t\t\t0\t\t\t\t0\t\t\t\t11\t\nLoan processing expense\t0\t\t\t\t1336\t\t\t\t0\t\t\t\t1336\t\nOther\t818\t\t\t\t2444\t\t\t\t(342)\t\t\t\t2920\t\nTotal noninterest expenses\t7824\t\t\t\t45660\t\t\t\t(483)\t\t\t\t53001\t\nIncome before income taxes\t7741\t\t\t\t27400\t\t\t\t5\t\t\t\t35146\t\nIncome tax expense\t1565\t\t\t\t7284\t\t\t\t4\t\t\t\t8853\t\nNet income\t6176\t\t\t20116\t\t\t\t1\t\t\t\t26293\t\t\nTotal assets\t2118968\t\t\t458526\t\t\t\t(356672)\t\t\t\t2220822\t\t\n", "q10k_tbl_49": "\tAs of or for the three months ended September 30 2019\n\tCommunity Banking\t\tMortgage Banking\t\t\t\tHolding Company and Other\t\t\t\tConsolidated\t\t\n\t(In Thousands)\nNet interest income (expense)\t13885\t\t\t(774)\t\t\t\t43\t\t\t\t13154\t\t\nProvision for loan losses\t(150)\t\t\t\t70\t\t\t\t0\t\t\t\t(80)\t\nNet interest income (expense) after provision for loan losses\t14035\t\t\t\t(844)\t\t\t\t43\t\t\t\t13234\t\nNoninterest income\t1415\t\t\t\t36535\t\t\t\t(456)\t\t\t\t37494\t\nNoninterest expenses:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCompensation payroll taxes and other employee benefits\t4075\t\t\t\t23616\t\t\t\t(177)\t\t\t\t27514\t\nOccupancy office furniture and equipment\t942\t\t\t\t1687\t\t\t\t0\t\t\t\t2629\t\nAdvertising\t202\t\t\t\t711\t\t\t\t0\t\t\t\t913\t\nData processing\t588\t\t\t\t411\t\t\t\t4\t\t\t\t1003\t\nCommunications\t90\t\t\t\t268\t\t\t\t0\t\t\t\t358\t\nProfessional fees\t223\t\t\t\t688\t\t\t\t43\t\t\t\t954\t\nReal estate owned\t24\t\t\t\t0\t\t\t\t0\t\t\t\t24\t\nLoan processing expense\t0\t\t\t\t858\t\t\t\t0\t\t\t\t858\t\nOther\t583\t\t\t\t1725\t\t\t\t(329)\t\t\t\t1979\t\nTotal noninterest expenses\t6727\t\t\t\t29964\t\t\t\t(459)\t\t\t\t36232\t\nIncome before income taxes\t8723\t\t\t\t5727\t\t\t\t46\t\t\t\t14496\t\nIncome tax expense\t1982\t\t\t\t1584\t\t\t\t6\t\t\t\t3572\t\nNet income\t6741\t\t\t4143\t\t\t\t40\t\t\t\t10924\t\t\nTotal assets\t1969835\t\t\t301565\t\t\t\t(265971)\t\t\t\t2005429\t\t\n", "q10k_tbl_50": "\tAs of or for the nine months ended September 30 2020\n\tCommunity Banking\t\tMortgage Banking\t\t\t\tHolding Company and Other\t\t\t\tConsolidated\t\t\n\t(In Thousands)\nNet interest income (expense)\t40070\t\t\t(948)\t\t\t\t62\t\t\t\t39184\t\t\nProvision for loan losses\t6075\t\t\t\t235\t\t\t\t0\t\t\t\t6310\t\nNet interest income (expense) after provision for loan losses\t33995\t\t\t\t(1183)\t\t\t\t62\t\t\t\t32874\t\nNoninterest income\t7068\t\t\t\t168159\t\t\t\t(1096)\t\t\t\t174131\t\nNoninterest expenses:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCompensation payroll taxes and other employee benefits\t15074\t\t\t\t86085\t\t\t\t(464)\t\t\t\t100695\t\nOccupancy office furniture and equipment\t2754\t\t\t\t4990\t\t\t\t0\t\t\t\t7744\t\nAdvertising\t797\t\t\t\t1828\t\t\t\t0\t\t\t\t2625\t\nData processing\t1773\t\t\t\t1234\t\t\t\t16\t\t\t\t3023\t\nCommunications\t301\t\t\t\t693\t\t\t\t0\t\t\t\t994\t\nProfessional fees\t690\t\t\t\t6935\t\t\t\t22\t\t\t\t7647\t\nReal estate owned\t55\t\t\t\t0\t\t\t\t0\t\t\t\t55\t\nLoan processing expense\t0\t\t\t\t3620\t\t\t\t0\t\t\t\t3620\t\nOther\t1930\t\t\t\t8235\t\t\t\t(670)\t\t\t\t9495\t\nTotal noninterest expenses\t23374\t\t\t\t113620\t\t\t\t(1096)\t\t\t\t135898\t\nIncome before income taxes\t17689\t\t\t\t53356\t\t\t\t62\t\t\t\t71107\t\nIncome tax expense\t3293\t\t\t\t14492\t\t\t\t12\t\t\t\t17797\t\nNet income\t14396\t\t\t38864\t\t\t\t50\t\t\t\t53310\t\t\n", "q10k_tbl_51": "\tAs of or for the nine months ended September 30 2019\n\tCommunity Banking\t\tMortgage Banking\t\t\t\tHolding Company and Other\t\t\t\tConsolidated\t\t\n\t(In Thousands)\nNet interest income (expense)\t40547\t\t\t(1511)\t\t\t\t35\t\t\t\t39071\t\t\nProvision (credit) for loan losses\t(850)\t\t\t\t120\t\t\t\t0\t\t\t\t(730)\t\nNet interest income (expense) after provision for loan losses\t41397\t\t\t\t(1631)\t\t\t\t35\t\t\t\t39801\t\nNoninterest income\t3375\t\t\t\t94470\t\t\t\t(904)\t\t\t\t96941\t\nNoninterest expenses:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCompensation payroll taxes and other employee benefits\t13502\t\t\t\t62255\t\t\t\t(530)\t\t\t\t75227\t\nOccupancy office furniture and equipment\t2858\t\t\t\t5227\t\t\t\t0\t\t\t\t8085\t\nAdvertising\t603\t\t\t\t2231\t\t\t\t0\t\t\t\t2834\t\nData processing\t1538\t\t\t\t1091\t\t\t\t12\t\t\t\t2641\t\nCommunications\t265\t\t\t\t774\t\t\t\t0\t\t\t\t1039\t\nProfessional fees\t651\t\t\t\t1734\t\t\t\t53\t\t\t\t2438\t\nReal estate owned\t75\t\t\t\t0\t\t\t\t0\t\t\t\t75\t\nLoan processing expense\t0\t\t\t\t2542\t\t\t\t0\t\t\t\t2542\t\nOther\t1707\t\t\t\t4823\t\t\t\t(475)\t\t\t\t6055\t\nTotal noninterest expenses\t21199\t\t\t\t80677\t\t\t\t(940)\t\t\t\t100936\t\nIncome before income taxes\t23573\t\t\t\t12162\t\t\t\t71\t\t\t\t35806\t\nIncome tax expense\t5263\t\t\t\t3415\t\t\t\t19\t\t\t\t8697\t\nNet income\t18310\t\t\t8747\t\t\t\t52\t\t\t\t27109\t\t\n", "q10k_tbl_52": "\tThree months ended September 30 2020\tThree months ended September 30 2019\t\tNine months ended September 30 2020\t\tNine months ended September 30 2019\t\n\t(In Thousands)\nOperating lease cost\t786\t809\t\t2380\t\t2371\t\t\nVariable cost\t134\t\t111\t\t374\t\t527\t\nShort-term lease cost\t184\t\t230\t\t563\t\t757\t\nTotal\t1104\t1150\t\t3317\t\t3655\t\t\n", "q10k_tbl_53": "\tNine months ended September 30 2020\n\t(Dollars in Thousands)\nCash paid for amounts included in the measurement of lease liabilities\t\nOperating cash flows from operating leases\t2689\t\nInitial recognition of right of use asset\t474\t\nInitial recognition of lease liabilities\t474\t\nWeighted average remaining lease term - operating leases in years\t2.7\t\nWeighted average discount rate - operating leases\t5.3%\t\n", "q10k_tbl_54": "Maturity analysis\tOperating leases\n\t(In Thousands)\nOne year or less\t2930\t\nMore than one year through two years\t1988\t\nMore than two years through three years\t1511\t\nMore than three years through four years\t715\t\nMore than four years through five years\t92\t\nMore than five years\t918\t\nTotal lease payments\t8154\t\nPresent value discount\t(1182)\t\nLease liability\t6972\t\n", "q10k_tbl_55": "\tThree months ended September 30\n\t2020\t\t2019\t\t\n\t(Dollars in Thousands except per share amounts)\nNet income\t26293\t\t\t\t10924\t\nEarnings per share - basic\t1.08\t\t\t\t0.42\t\nEarnings per share - diluted\t1.08\t\t\t\t0.42\t\nAnnualized return on average assets\t4.78%\t\t\t\t2.17%\t\nAnnualized return on average equity\t26.30%\t\t\t\t11.15%\t\n", "q10k_tbl_56": "\tThree months ended September 30\n\t2020\t\t2019\t\t\t\t\t\t\t\t\t\t\n\tAverage Balance\t\tInterest\t\t\t\tYield/Cost\t\t\t\tAverage Balance\t\t\t\tInterest\t\t\t\tYield/Cost\t\t\n\t(Dollars in Thousands)\nAssets\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nInterest-earning assets:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLoans receivable and held for sale (1)\t$1766715\t\t\t$18224\t\t\t\t\t4.10%\t\t\t$1579575\t\t\t\t$18558\t\t\t\t\t4.66%\t\nMortgage related securities (2)\t96529\t\t\t\t588\t\t\t\t2.42%\t\t\t\t114051\t\t\t\t737\t\t\t\t2.56%\t\nDebt securities federal funds sold and short-term investments (2)(3)\t166160\t\t\t\t801\t\t\t\t1.92%\t\t\t\t169621\t\t\t\t1157\t\t\t\t2.71%\t\nTotal interest-earning assets\t2029404\t\t\t\t19613\t\t\t\t3.84%\t\t\t\t1863247\t\t\t\t20452\t\t\t\t4.35%\t\nNoninterest-earning assets\t160526\t\t\t\t\t\t\t\t\t\t\t\t137723\t\t\t\t\t\t\t\t\t\nTotal assets\t$2189930\t\t\t\t\t\t\t\t\t\t\t$2000970\t\t\t\t\t\t\t\t\t\t\nLiabilities and equity\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nInterest-bearing liabilities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDemand accounts\t$50590\t\t\t\t11\t\t\t\t0.09%\t\t\t$37015\t\t\t\t\t8\t\t\t\t0.09%\t\nMoney market savings and escrow accounts\t282349\t\t\t\t473\t\t\t\t0.67%\t\t\t\t206474\t\t\t\t298\t\t\t\t0.57%\t\nTime deposits\t741265\t\t\t\t3011\t\t\t\t1.62%\t\t\t\t739544\t\t\t\t4173\t\t\t\t2.24%\t\nTotal interest-bearing deposits\t1074204\t\t\t\t3495\t\t\t\t1.29%\t\t\t\t983033\t\t\t\t4479\t\t\t\t1.81%\t\nBorrowings\t531588\t\t\t\t2640\t\t\t\t1.98%\t\t\t\t509099\t\t\t\t2745\t\t\t\t2.14%\t\nTotal interest-bearing liabilities\t1605792\t\t\t\t6135\t\t\t\t1.52%\t\t\t\t1492132\t\t\t\t7224\t\t\t\t1.92%\t\nNoninterest-bearing liabilities\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoninterest-bearing deposits\t129911\t\t\t\t\t\t\t\t\t\t\t\t86849\t\t\t\t\t\t\t\t\t\nOther noninterest-bearing liabilities\t56451\t\t\t\t\t\t\t\t\t\t\t\t33130\t\t\t\t\t\t\t\t\t\nTotal noninterest-bearing liabilities\t186362\t\t\t\t\t\t\t\t\t\t\t\t119979\t\t\t\t\t\t\t\t\t\nTotal liabilities\t1792154\t\t\t\t\t\t\t\t\t\t\t\t1612111\t\t\t\t\t\t\t\t\t\nEquity\t397776\t\t\t\t\t\t\t\t\t\t\t\t388859\t\t\t\t\t\t\t\t\t\nTotal liabilities and equity\t$2189930\t\t\t\t\t\t\t\t\t\t\t$2000970\t\t\t\t\t\t\t\t\t\t\nNet interest income / Net interest rate spread (4)\t\t\t\t\t13478\t\t\t\t2.32%\t\t\t\t\t\t\t\t13228\t\t\t\t2.43%\t\nLess: taxable equivalent adjustment\t\t\t\t\t69\t\t\t\t0.01%\t\t\t\t\t\t\t\t74\t\t\t\t0.01%\t\nNet interest income / Net interest rate spread as reported\t\t\t\t$13409\t\t\t\t\t2.31%\t\t\t\t\t\t\t$13154\t\t\t\t\t2.42%\t\nNet interest-earning assets (5)\t$423612\t\t\t\t\t\t\t\t\t\t\t$371115\t\t\t\t\t\t\t\t\t\t\nNet interest margin (6)\t\t\t\t\t\t\t\t\t2.63%\t\t\t\t\t\t\t\t\t\t\t\t2.80%\t\nTax equivalent effect\t\t\t\t\t\t\t\t\t0.01%\t\t\t\t\t\t\t\t\t\t\t\t0.02%\t\nNet interest margin on a fully tax equivalent basis (6)\t\t\t\t\t\t\t\t\t2.64%\t\t\t\t\t\t\t\t\t\t\t\t2.82%\t\nAverage interest-earning assets to average interest-bearing liabilities\t\t\t\t\t\t\t\t\t126.38%\t\t\t\t\t\t\t\t\t\t\t\t124.87%\t\n", "q10k_tbl_57": "\tThree months ended September 30\n\t2020 versus 2019\n\tIncrease (Decrease) due to\n\tVolume\t\tRate\t\t\t\tNet\t\t\n\t(In Thousands)\nInterest income:\t\t\t\t\t\t\t\t\t\nLoans receivable and held for sale (1)(2)\t2030\t\t\t(2364)\t\t\t\t(334)\t\t\nMortgage related securities (3)\t(107)\t\t\t\t(42)\t\t\t\t(149)\t\nDebt securities federal funds sold and short-term investments (3)(4)\t(23)\t\t\t\t(333)\t\t\t\t(356)\t\nTotal interest-earning assets\t1900\t\t\t\t(2739)\t\t\t\t(839)\t\nInterest expense:\t\t\t\t\t\t\t\t\t\t\nDemand accounts\t3\t\t\t\t0\t\t\t\t3\t\nMoney market savings and escrow accounts\t118\t\t\t\t57\t\t\t\t175\t\nTime deposits\t10\t\t\t\t(1172)\t\t\t\t(1162)\t\nTotal interest-earning deposits\t131\t\t\t\t(1115)\t\t\t\t(984)\t\nBorrowings\t150\t\t\t\t(255)\t\t\t\t(105)\t\nTotal interest-bearing liabilities\t281\t\t\t\t(1370)\t\t\t\t(1089)\t\nNet change in net interest income\t1619\t\t\t(1369)\t\t\t\t250\t\t\n", "q10k_tbl_58": "0\tInterest income on loans decreased $334000 due primarily to a 56 basis point decrease in average yield on loans as London Interbank Offered Rate (LIBOR) and U.S. Treasury rates continued to decrease offset by an increase of $187.1 million or 11.8% in average loans. The increase in average loan balance was driven by a $49.7 million or 3.6% increase in the average balance of loans held in portfolio and by an increase of $137.5 million or 68.8% in the average balance of loans held for sale.\n0\tInterest income from mortgage-related securities decreased $149000 as the yield decreased 14 basis points and the average balance decreased $17.5 million.\n0\tInterest income from other interest-earning assets (comprised of debt securities federal funds sold and short-term investments) decreased $351000 due to a 78 basis point decrease in the average yield. The decrease in average yield was primarily driven by the decrease in federal funds rate over the past year and as higher yielding securities have matured. The average balance decreased $3.5 million to $166.2 million due to a lower municipal securities balances as maturities that occurred throughout the past 12 months were not replaced due to market conditions. Offsetting those decreases the balance of FHLB stock increased with additional FHLB borrowings.\n0\tInterest expense on time deposits decreased $1.2 million or 27.8% primarily due to a 62 basis point decrease in average cost of time deposits. Offset the decrease in average cost of time deposits the average balance of time deposits increased $1.7 million compared to the prior year period.\n0\tInterest expense on money market savings and escrow accounts increased $175000 or 58.7% due primarily to a 10 basis point increase in average cost of money market savings and escrow accounts along with an increase in average balance of $75.9 million. Money market accounts have been a focus over the year and the Company has aggressively marketed new customers through various new offerings and new branches that opened within the past 12 months.\n0\tInterest expense on borrowings decreased $105000 or 3.8% due to a decrease in the average cost of borrowings of 16 basis points to 1.98% during the three months ended September 30 2020 compared to 2.14% during the three months ended September 30 2019. The decrease in the cost of borrowings resulted from the new short-term fundings borrowed at a lower rate. Offsetting the decrease in rate the average borrowing volume increased $22.5 million to $531.6 million during the three months ended September 30 2020 compared to $509.1 million during the three months ended September 30 2019. The increase was primarily due to the funding of the loans held for sale.\n", "q10k_tbl_59": "\tThree months ended September 30\n\t2020\t\t2019\t\t\t\t Change\t\t\t\t% Change\t\t\n\t(Dollars in Thousands)\nService charges on loans and deposits\t672\t\t\t503\t\t\t\t169\t\t\t\t\t33.6%\t\nIncrease in cash surrender value of life insurance\t714\t\t\t\t728\t\t\t\t(14)\t\t\t\t(1.9)%\t\nMortgage banking income\t72112\t\t\t\t36062\t\t\t\t36050\t\t\t\t100.0%\t\nOther\t2265\t\t\t\t201\t\t\t\t2064\t\t\t\t1026.9%\t\nTotal noninterest income\t75763\t\t\t37494\t\t\t\t38269\t\t\t\t\t102.1%\t\n", "q10k_tbl_60": "0\tThe increase in mortgage banking income was primarily the result of an increase in loan origination volume and gross margin on loans originated and sold. Gross margin on loans originated and sold is the ratio of mortgage banking income (excluding the change in interest rate lock fair value) divided by total loan originations. Total loan origination volume on a consolidated basis increased $445.8 million or 54.2% to $1.27 billion during the three months ended September 30 2020 compared to $822.8 million during the three months ended September 30 2019. Gross margin on loans originated and sold increased 26.5% at the mortgage banking segment. See \"Comparison of Mortgage Banking Segment Results of Operations for the Three Months Ended September 30 2020 and 2019\" above for additional discussion of the increase in mortgage banking income.\n0\tService charges on loans and deposits increased primarily due to loan prepayment fees and fees earned on loan swaps.\n0\tThe decrease in cash surrender value of life insurance was due primarily to an decrease in balance as death benefit proceeds were received on two policies.\n0\tThe increase in other noninterest income was due primarily to increases in gain from death benefit on bank owned life insurance mortgage servicing fee income wealth management revenue and rental income. Mortgage servicing fee income increased as loans sold with servicing rights retained increased due to market conditions.\n", "q10k_tbl_61": "\tThree months ended September 30\n\t2020\t\t2019\t\t\t\t Change\t\t\t\t% Change\t\t\n\t(Dollars in Thousands)\nCompensation payroll taxes and other employee benefits\t39405\t\t\t27514\t\t\t\t11891\t\t\t\t\t43.2%\t\nOccupancy office furniture and equipment\t2469\t\t\t\t2629\t\t\t\t(160)\t\t\t\t(6.1)%\t\nAdvertising\t861\t\t\t\t913\t\t\t\t(52)\t\t\t\t(5.7)%\t\nData processing\t922\t\t\t\t1003\t\t\t\t(81)\t\t\t\t(8.1)%\t\nCommunications\t339\t\t\t\t358\t\t\t\t(19)\t\t\t\t(5.3)%\t\nProfessional fees\t4738\t\t\t\t954\t\t\t\t3784\t\t\t\t396.6%\t\nReal estate owned\t11\t\t\t\t24\t\t\t\t(13)\t\t\t\t(54.2)%\t\nLoan processing expense\t1336\t\t\t\t858\t\t\t\t478\t\t\t\t55.7%\t\nOther\t2920\t\t\t\t1979\t\t\t\t941\t\t\t\t47.5%\t\nTotal noninterest expenses\t53001\t\t\t36232\t\t\t\t16769\t\t\t\t\t46.3%\t\n", "q10k_tbl_62": "0\tCompensation payroll taxes and other employee benefits expense at our mortgage banking segment increased $10.9 million or 46.3% to $34.6 million during the three months ended September 30 2020. The increase in compensation expense was primarily a result of an increase in commission expense as fundings increased and branch manager pay increased as branches were more profitable.\n0\tCompensation payroll taxes and other employee benefits expense at the community banking segment increased $925000 or 22.7% to $5.0 million during the three months ended September 30 2020. The increase was due primarily to an increase in salaries expense due to annual raises and additional branches health insurance expense as claims increased and variable compensation as executives are eligible for an increased bonus.\n0\tOccupancy office furniture and equipment expense at the mortgage banking segment decreased $92000 to $1.6 million during the three months ended September 30 2020 primarily resulting from lower rent expense offset by an increase in computer equipment expense to accomodate remote working.\n0\tOccupancy office furniture and equipment expense at the community banking segment decreased $68000 to $874000 during the three months ended September 30 2020. The decrease was due primarily to decreased computer and furniture and equipment expenses.\n0\tAdvertising expense decreased $52000 or 5.7% to $861000 during the three months ended September 30 2020. This was primarily due to marketing decreases at the mortgage banking segment as volumes were largely driven by lower rates. Advertising at the community banking segment increased due to promotions for deposit customers.\n0\tData processing expense decreased $81000 or 8.1% to $922000 during the three months ended September 30 2020. This was primarily due to conversion expenses for the new ditigal banking platform rollout at the community banking segment during the three months ended September 30 2019.\n0\tProfessional fees increased $3.8 million to $4.7 million during the three months ended September 30 2020. This was primarily due to a $4.25 million tentative legal settlement (see further discussion in Note 10 - Commitments Off-Balance Sheet Arrangements and Contingent Liabilities of the notes to unaudited consolidated financial statements for additional information).\n0\tLoan processing expense increased $478000 or 55.7% to $1.3 million during the three months ended September 30 2020. This was primarily due to an increase in loan costs associated with the increased application volumes as mortgage rates declined.\n0\tOther noninterest expense increased $941000 or 47.5% to $2.9 million during the three months ended September 30 2020. The increase at the mortgage banking segment was primarily due to amortization of mortgage servicing rights as the value of the servicing portfolio has increased in 2020 compared to 2019. Additionally other noninterest expenses increased at the community banking segment as the FDIC issued a credit for the three months ended September 30 2019 but not for the three months ended September 30 2020.\n", "q10k_tbl_63": "\tNine months ended September 30\n\t2020\t\t2019\t\t\n\t(Dollars in Thousands except per share amounts)\nNet income\t53310\t\t\t$27109\t\t\nEarnings per share - basic\t2.16\t\t\t\t1.04\t\nEarnings per share - diluted\t2.15\t\t\t\t1.03\t\nAnnualized return on average assets\t3.35%\t\t\t\t1.84%\t\nAnnualized return on average equity\t18.02%\t\t\t\t9.21%\t\n", "q10k_tbl_64": "\tNine months ended September 30\n\t2020\t\t2019\t\t\t\t\t\t\t\t\t\t\n\tAverage Balance\t\tInterest\t\t\t\tYield/Cost\t\t\t\tAverage Balance\t\t\t\tInterest\t\t\t\tYield/Cost\t\t\n\t(Dollars in Thousands)\nAssets\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nInterest-earning assets:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLoans receivable and held for sale (1)\t$1696493\t\t\t$54404\t\t\t\t\t4.28%\t\t\t$1536532\t\t\t\t$53688\t\t\t\t\t4.67%\t\nMortgage related securities (2)\t104752\t\t\t\t1960\t\t\t\t2.50%\t\t\t\t114748\t\t\t\t2260\t\t\t\t2.63%\t\nDebt securities federal funds sold and short-term investments (2)(3)\t178775\t\t\t\t2703\t\t\t\t2.02%\t\t\t\t181375\t\t\t\t3741\t\t\t\t2.76%\t\nTotal interest-earning assets\t1980020\t\t\t\t59067\t\t\t\t3.98%\t\t\t\t1832655\t\t\t\t59689\t\t\t\t4.35%\t\nNoninterest-earning assets\t146959\t\t\t\t\t\t\t\t\t\t\t\t133530\t\t\t\t\t\t\t\t\t\nTotal assets\t$2126979\t\t\t\t\t\t\t\t\t\t\t$1966185\t\t\t\t\t\t\t\t\t\t\nLiabilities and equity\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nInterest-bearing liabilities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDemand accounts\t$45275\t\t\t\t27\t\t\t\t0.08%\t\t\t$36345\t\t\t\t\t23\t\t\t\t0.08%\t\nMoney market savings and escrow accounts\t251377\t\t\t\t1364\t\t\t\t0.72%\t\t\t\t192195\t\t\t\t891\t\t\t\t0.62%\t\nTime deposits\t735350\t\t\t\t10369\t\t\t\t1.88%\t\t\t\t737286\t\t\t\t11899\t\t\t\t2.16%\t\nTotal interest-bearing deposits\t1032002\t\t\t\t11760\t\t\t\t1.52%\t\t\t\t965826\t\t\t\t12813\t\t\t\t1.77%\t\nBorrowings\t545631\t\t\t\t7913\t\t\t\t1.94%\t\t\t\t484572\t\t\t\t7579\t\t\t\t2.09%\t\nTotal interest-bearing liabilities\t1577633\t\t\t\t19673\t\t\t\t1.67%\t\t\t\t1450398\t\t\t\t20392\t\t\t\t1.88%\t\nNoninterest-bearing liabilities\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoninterest-bearing deposits\t112777\t\t\t\t\t\t\t\t\t\t\t\t92075\t\t\t\t\t\t\t\t\t\nOther noninterest-bearing liabilities\t41502\t\t\t\t\t\t\t\t\t\t\t\t30345\t\t\t\t\t\t\t\t\t\nTotal noninterest-bearing liabilities\t154279\t\t\t\t\t\t\t\t\t\t\t\t122420\t\t\t\t\t\t\t\t\t\nTotal liabilities\t1731912\t\t\t\t\t\t\t\t\t\t\t\t1572818\t\t\t\t\t\t\t\t\t\nEquity\t395067\t\t\t\t\t\t\t\t\t\t\t\t393367\t\t\t\t\t\t\t\t\t\nTotal liabilities and equity\t$2126979\t\t\t\t\t\t\t\t\t\t\t$1966185\t\t\t\t\t\t\t\t\t\t\nNet interest income / Net interest rate spread (4)\t\t\t\t\t39394\t\t\t\t2.31%\t\t\t\t\t\t\t\t39297\t\t\t\t2.47%\t\nLess: taxable equivalent adjustment\t\t\t\t\t210\t\t\t\t0.01%\t\t\t\t\t\t\t\t226\t\t\t\t0.01%\t\nNet interest income / Net interest rate spread as reported\t\t\t\t$39184\t\t\t\t\t2.30%\t\t\t\t\t\t\t$39071\t\t\t\t\t2.46%\t\nNet interest-earning assets (5)\t$402387\t\t\t\t\t\t\t\t\t\t\t$382257\t\t\t\t\t\t\t\t\t\t\nNet interest margin (6)\t\t\t\t\t\t\t\t\t2.64%\t\t\t\t\t\t\t\t\t\t\t\t2.85%\t\nTax equivalent effect\t\t\t\t\t\t\t\t\t0.02%\t\t\t\t\t\t\t\t\t\t\t\t0.02%\t\nNet interest margin on a fully tax equivalent basis (6)\t\t\t\t\t\t\t\t\t2.66%\t\t\t\t\t\t\t\t\t\t\t\t2.87%\t\nAverage interest-earning assets to average interest-bearing liabilities\t\t\t\t\t\t\t\t\t125.51%\t\t\t\t\t\t\t\t\t\t\t\t126.36%\t\n", "q10k_tbl_65": "\tNine months ended September 30\n\t2020 versus 2019\n\tIncrease (Decrease) due to\n\tVolume\t\tRate\t\t\t\tNet\t\t\n\t(In Thousands)\nInterest income:\t\t\t\t\t\t\t\t\t\nLoans receivable and held for sale (1)(2)\t5385\t\t\t(4669)\t\t\t\t716\t\t\nMortgage related securities (3)\t(176)\t\t\t\t(124)\t\t\t\t(300)\t\nDebt securities federal funds sold and short-term investments (3) (4)\t(55)\t\t\t\t(983)\t\t\t\t(1038)\t\nTotal interest-earning assets\t5154\t\t\t\t(5776)\t\t\t\t(622)\t\nInterest expense:\t\t\t\t\t\t\t\t\t\t\nDemand accounts\t4\t\t\t\t0\t\t\t\t4\t\nMoney market savings and escrow accounts\t310\t\t\t\t163\t\t\t\t473\t\nTime deposits\t(30)\t\t\t\t(1500)\t\t\t\t(1530)\t\nTotal interest-earning deposits\t284\t\t\t\t(1337)\t\t\t\t(1053)\t\nBorrowings\t776\t\t\t\t(442)\t\t\t\t334\t\nTotal interest-bearing liabilities\t1060\t\t\t\t(1779)\t\t\t\t(719)\t\nNet change in net interest income\t4094\t\t\t(3997)\t\t\t\t97\t\t\n", "q10k_tbl_66": "0\tInterest income on loans increased $716000 due primarily to an increase of $160.0 million or 10.4% in average loans offset by a 39 basis point decrease in average yield on loans as LIBOR and U.S. Treasury rates continue to decrease. The increase in average loan balance was driven by a $37.4 million or 2.7% increase in the average balance of loans held in portfolio and by an increase of $122.5 million or 76.9% in the average balance of loans held for sale.\n0\tInterest income from mortgage related securities decreased $300000 primarily as the yield decreased 13 basis points. Additionally the average balance decreased $10.0 million.\n0\tInterest income from other interest-earning assets (comprised of debt securities federal funds sold and short-term investments) decreased $1.0 million due to a 73 basis point decrease in the average yield. The decrease in average yield was primarily driven by the decrease in federal funds rate over the past year and as higher yielding securities have matured. The average balance decreased $2.6 million to $178.8 million due to lower municipal securities balances as maturities occurred throughout the past 12 months and were not replaced due to market conditions. Offsetting those decreases the balance of FHLB stock increased with additional FHLB borrowings.\n0\tInterest expense on time deposits decreased $1.5 million or 12.9% primarily due to a 28 basis point decrease in average cost of time deposits. Additionally the average balance of time deposits decreased $1.9 million compared to the prior year period.\n0\tInterest expense on money market savings and escrow accounts increased $473000 or 53.1% due primarily to a 10 basis point increase in average cost of money market savings and escrow accounts along with an increase in average balance of $59.2 million. Money market accounts have been a focus over the year and the Company has aggressively marketed new customers through various new offerings and new branches that opened within the past 12 months.\n0\tInterest expense on borrowings increased $334000 or 4.4% due to an increase of $61.1 million to $545.6 million in average borrowing volume during the nine months ended September 30 2020. The increase was primarily due to the funding of the loans held for sale. Offsetting the increase in volume the average cost of borrowings decreased 15 basis points to 1.94% during the nine months ended September 30 2020 compared to 2.09% during the nine months ended September 30 2019. The decrease in the cost of borrowings resulted from the new short-term fundings borrowed at a lower rate.\n", "q10k_tbl_67": "\t\tNine months ended September 30\t\t\t\t\t\n\t2020\t2019\t\t Change\t\t% Change\t\n\t\t(Dollars in Thousands)\t\t\t\t\t\nService charges on loans and deposits\t3384\t1272\t\t2112\t\t\t166.0%\t\nIncrease in cash surrender value of life insurance\t1587\t\t1579\t\t8\t\t0.5%\t\nMortgage banking income\t166292\t\t93526\t\t72766\t\t77.8%\t\nOther\t2868\t\t564\t\t2304\t\t408.5%\t\nTotal noninterest income\t174131\t96941\t\t77190\t\t\t79.6%\t\n", "q10k_tbl_68": "0\tThe increase in mortgage banking income was primarily the result of an increase in loan origination volume and gross margin on loans originated and sold. Gross margin on loans originated and sold is the ratio of mortgage banking income (excluding the change in interest rate lock fair value) divided by total loan originations. Total loan origination volume on a consolidated basis increased $970.9 million or 46.4% to $3.06 billion during the nine months ended September 30 2020 compared to $2.09 billion during the nine months ended September 30 2019. Gross margin on loans originated and sold increased 17.8% at the mortgage banking segment. See \"Comparison of Mortgage Banking Segment Results of Operations for the Nine Months Ended September 30 2020 and 2019\" above for additional discussion of the increase in mortgage banking income.\n0\tService charges on loans and deposits increased primarily due to loan prepayment fees and fees earned on loan swaps.\n0\tThe increase in cash surrender value of life insurance was due primarily to an increase in average balance.\n0\tThe increase in other noninterest income was due primarily to increases in gain from death benefit on bank owned life insurance mortgage servicing fee income wealth management revenue and rental income. Mortgage servicing fee income increased as loans sold with servicing rights retained increased due to market conditions.\n", "q10k_tbl_69": "\tNine months ended September 30\n\t2020\t\t2019\t\t\t\t Change\t\t\t\t% Change\t\t\n\t(Dollars in Thousands)\nCompensation payroll taxes and other employee benefits\t$100695\t\t\t75227\t\t\t\t25468\t\t\t\t\t33.9%\t\nOccupancy office furniture and equipment\t7744\t\t\t\t8085\t\t\t\t(341)\t\t\t\t(4.2)%\t\nAdvertising\t2625\t\t\t\t2834\t\t\t\t(209)\t\t\t\t(7.4)%\t\nData processing\t3023\t\t\t\t2641\t\t\t\t382\t\t\t\t14.5%\t\nCommunications\t994\t\t\t\t1039\t\t\t\t(45)\t\t\t\t(4.3)%\t\nProfessional fees\t7647\t\t\t\t2438\t\t\t\t5209\t\t\t\t213.7%\t\nReal estate owned\t55\t\t\t\t75\t\t\t\t(20)\t\t\t\t(26.7)%\t\nLoan processing expense\t3620\t\t\t\t2542\t\t\t\t1078\t\t\t\t42.4%\t\nOther\t9495\t\t\t\t6055\t\t\t\t3440\t\t\t\t56.8%\t\nTotal noninterest expenses\t$135898\t\t\t100936\t\t\t\t34962\t\t\t\t\t34.6%\t\n", "q10k_tbl_70": "0\tCompensation payroll taxes and other employee benefit expense at our mortgage banking segment increased $23.8 million or 38.3% to $86.1 million for the nine months ended September 30 2020. The increase in compensation expense was primarily a result of an increase in commission expense as fundings increased and branch manager pay increased as branches were more profitable.\n0\tCompensation payroll taxes and other employee benefits expense at the community banking segment increased $1.6 million or 11.6% to $15.1 million during the nine months ended September 30 2020. The increase was due primarily to an increase in salaries expense due to annual raises health insurance expense as claims increased and variable compensation as executives are eligible for an increased bonus. Offsetting the increases equity award expense decreased as a majority of awards granted in 2015 had a final vesting in 2019.\n0\tOccupancy office furniture and equipment expense at the mortgage banking segment decreased $237000 to $5.0 million during the nine months ended September 30 2020 resulting from lower rent expense as a result of underperforming branches closing. Offsetting the decreases computer expenses increased to accomodate remote working.\n0\tOccupancy office furniture and equipment expense at the community banking segment decreased $104000 to $2.8 million during the nine months ended September 30 2020. The decrease was due primarily to lower computer furniture and equipment and snow plowing expense.\n0\tAdvertising expense decreased $403000 at the mortgage banking segment as lower rates generated customer activity. Offsetting the decrease at the mortgage banking segment advertising increased $194000 at the community banking segment to promote the opening of a new branch the new digital banking platform and promotions for deposit customers.\n0\tData processing expense increased $382000 or 14.5% to $3.0 million during the nine months ended September 30 2020. This was primarily due to the new ditigal banking platform rollout at the community banking segment and new contracts at the mortgage banking segment as technology investments continue to increase.\n0\tProfessional fees expense increased $5.2 million or 213.7% to $7.6 million primarily as a result of an increase in legal fees at the mortgage banking segment for a $4.25 million tentative legal settlement (see further discussion in Note 10 - Commitments Off-Balance Sheet Arrangements and Contingent Liabilities of the notes to unaudited consolidated financial statements for additional information) and ongoing litigation costs along with an increase in audit expense at the community banking segment.\n0\tLoan processing expense increased $1.1 million or 42.4% to $3.6 million during the nine months ended September 30 2020. This was primarily due to an increase in loan costs associated with the application volumes as mortgage rates declined.\n0\tOther noninterest expense increased $3.4 million for the nine months ended September 30 2020 due to an increase at the mortgage banking segment. The increase at the mortgage banking segment was primarily due to an increased provision for loan sale losses as there was additional uncertainity regarding selling loans to third party investors from COVID-19 pandemic challenges. Additionally amortization of mortgage servicing rights increased as the value of the servicing portfolio has increased in 2020 compared to 2019. Other noninterest expenses increased at the community banking segment due primarily to loan related costs for the nine months ended September 30 2020 along with a decrease in other regulator fees.\n", "q10k_tbl_71": "\tFor the\tFor the\t\n\tNine months ended September 30\tYear Ended\t\n\t2020\t2019\t\t\tDecember 31 2019\t\t\n\t\t(In Thousands)\t\t\t\t\t\nReal estate loans originated for investment:\t\t\t\t\t\t\t\nResidential\t\t\t\t\t\t\t\nOne- to four-family\t90290\t66113\t\t\t\t95461\t\t\nMulti-family\t133027\t\t64301\t\t\t\t110136\t\nHome equity\t4914\t\t3756\t\t\t\t5804\t\nConstruction and land\t41418\t\t48567\t\t\t\t59814\t\nCommercial real estate\t26637\t\t24645\t\t\t\t49710\t\nTotal real estate loans originated for investment\t296286\t\t207382\t\t\t\t320925\t\nConsumer loans originated for investment\t275\t\t55\t\t\t\t55\t\nCommercial business loans originated for investment\t41944\t\t5426\t\t\t\t7517\t\nTotal loans originated for investment\t338505\t212863\t\t\t\t328497\t\t\n", "q10k_tbl_72": "\tAt September 30\tAt December 31\t\n\t2020\t2019\t\n\t(Dollars in Thousands)\nNon-accrual loans:\t\t\t\nResidential\t\t\t\nOne- to four-family\t5299\t5985\t\t\nMulti-family\t616\t\t667\t\nHome equity\t75\t\t70\t\nConstruction and land\t0\t\t0\t\nCommercial real estate\t51\t\t303\t\nCommercial\t0\t\t0\t\nConsumer\t0\t\t0\t\nTotal non-accrual loans\t6041\t\t7025\t\nReal estate owned\t\t\t\t\nOne- to four-family\t70\t\t46\t\nMulti-family\t0\t\t0\t\nConstruction and land\t1256\t\t1256\t\nCommercial real estate\t0\t\t0\t\nTotal real estate owned\t1326\t\t1302\t\nValuation allowance at end of period\t(554)\t\t(554)\t\nTotal real estate owned net\t772\t\t748\t\nTotal nonperforming assets\t6813\t7773\t\t\nTotal non-accrual loans to total loans\t0.42%\t\t0.51%\t\nTotal non-accrual loans to total assets\t0.27%\t\t0.35%\t\nTotal nonperforming assets to total assets\t0.31%\t\t0.39%\t\n", "q10k_tbl_73": "\tAt or for the Nine Months\n\tEnded September 30\n\t2020\t\t2019\t\t\n\t(In Thousands)\nBalance at beginning of period\t7025\t\t\t6555\t\t\nAdditions\t2327\t\t\t\t2241\t\nTransfers to real estate owned\t(369)\t\t\t\t(946)\t\nCharge-offs\t(3)\t\t\t\t(8)\t\nReturned to accrual status\t(1563)\t\t\t\t(237)\t\nPrincipal paydowns and other\t(1376)\t\t\t\t(1292)\t\nBalance at end of period\t6041\t\t\t6313\t\t\n", "q10k_tbl_74": "\tAs of September 30 2020\n\tAccruing\t\tNon-accruing\t\t\t\tTotal\t\t\n\t(In Thousands)\nOne- to four-family\t2736\t\t\t564\t\t\t\t3300\t\t\nMulti-family\t0\t\t\t\t272\t\t\t\t272\t\nCommercial real estate\t5986\t\t\t\t0\t\t\t\t5986\t\n\t8722\t\t\t836\t\t\t\t9558\t\t\n\tAs of December 31 2019\n\tAccruing\t\tNon-accruing\t\t\t\tTotal\t\t\n\t(In Thousands)\nOne- to four-family\t2740\t\t\t685\t\t\t\t3425\t\t\nMulti-family\t0\t\t\t\t308\t\t\t\t308\t\nCommercial real estate\t278\t\t\t\t7\t\t\t\t285\t\n\t3018\t\t\t1000\t\t\t\t4018\t\t\n", "q10k_tbl_75": "\tSeptember 30 2020\nLoan modifications:\t\nResidential real estate:\t\nOne- to four-family\t2915\t\nCommercial real estate\t225\t\nCommercial\t32\t\nTotal loan modifications\t3172\t\nTotal loan modifications to total loans receivable\t0.22%\t\n", "q10k_tbl_76": "\tAt September 30\tAt December 31\t\n\t2020\t2019\t\n\t(Dollars in Thousands)\nLoans past due less than 90 days\t2503\t1833\t\t\nLoans past due 90 days or more\t3052\t\t4632\t\nTotal loans past due\t5555\t6465\t\t\nTotal loans past due to total loans receivable\t0.39%\t\t0.47%\t\n", "q10k_tbl_77": "\tAt or for the Nine Months\n\tEnded September 30\n\t2020\t\t2019\t\t\n\t(Dollars in Thousands)\nBalance at beginning of period\t12387\t\t\t13249\t\t\nProvision (credit) for loan losses\t6310\t\t\t\t(730)\t\nCharge-offs:\t\t\t\t\t\t\nMortgage\t\t\t\t\t\t\nOne- to four-family\t9\t\t\t\t69\t\nMulti-family\t5\t\t\t\t2\t\nHome equity\t13\t\t\t\t44\t\nCommercial real estate\t0\t\t\t\t2\t\nConstruction and land\t0\t\t\t\t0\t\nConsumer\t10\t\t\t\t5\t\nCommercial\t0\t\t\t\t0\t\nTotal charge-offs\t37\t\t\t\t122\t\nRecoveries:\t\t\t\t\t\t\nMortgage\t\t\t\t\t\t\nOne- to four-family\t132\t\t\t\t116\t\nMulti-family\t17\t\t\t\t13\t\nHome equity\t22\t\t\t\t19\t\nCommercial real estate\t11\t\t\t\t2\t\nConstruction and land\t2\t\t\t\t0\t\nConsumer\t0\t\t\t\t0\t\nCommercial\t0\t\t\t\t0\t\nTotal recoveries\t184\t\t\t\t150\t\nNet recoveries\t(147)\t\t\t\t(28)\t\nAllowance at end of period\t18844\t\t\t12547\t\t\nRatios:\t\t\t\t\t\t\nAllowance for loan losses to non-accrual loans at end of period\t311.94%\t\t\t\t198.75%\t\nAllowance for loan losses to loans receivable at end of period\t1.31%\t\t\t\t0.91%\t\nNet recoveries to average loans outstanding (annualized)\t(0.01)%\t\t\t\t0.00%\t\n(Provision) credit for loan losses to net recoveries\t(4292.52)%\t\t\t\t2607.14%\t\nNet recoveries to beginning of the period allowance (annualized)\t(1.59)%\t\t\t\t(0.28)%\t\n", "q10k_tbl_78": "\t\t\t\tMore than\t\tMore than\t\t\t\n\t\t\t\tOne Year\t\tThree Years\t\tOver\t\n\t\tOne Year\t\tThrough\t\tThrough\t\tFive\t\n\tTotal\tor Less\t\tThree Years\t\tFive Years\t\tYears\t\n\t(In Thousands)\nDemand deposits (3)\t169218\t$169218\t\t0\t\t0\t\t0\t\t\nMoney market and savings deposits (3)\t271283\t\t271283\t\t0\t\t0\t\t0\t\nTime deposit (3)\t744150\t\t701230\t\t41088\t\t1832\t\t0\t\nRepurchase agreements (3)\t48126\t\t48126\t\t0\t\t0\t\t0\t\nFederal Home Loan Bank advances (1)\t504000\t\t34000\t\t0\t\t0\t\t470000\t\nOperating leases (2)\t8925\t\t2958\t\t3500\t\t1549\t\t918\t\n\t1745702\t$1226815\t\t$44588\t\t$3381\t\t$470918\t\t\n", "q10k_tbl_79": "\t\t\t\tMore than\t\tMore than\t\t\t\n\t\t\t\tOne Year\t\tThree Years\t\tOver\t\n\t\tOne Year\t\tThrough\t\tThrough\t\tFive\t\n\tTotal\tor Less\t\tThree Years\t\tFive Years\t\tYears\t\n\t(In Thousands)\nReal estate loan commitments (1)\t18290\t18290\t\t0\t\t0\t\t0\t\t\nUnused portion of home equity lines of credit (2)\t13742\t\t13742\t\t0\t\t0\t\t0\t\nUnused portion of construction loans (3)\t77017\t\t77017\t\t0\t\t0\t\t0\t\nUnused portion of business lines of credit\t19558\t\t19558\t\t0\t\t0\t\t0\t\nStandby letters of credit\t1296\t\t1296\t\t0\t\t0\t\t0\t\nTotal Other Commitments\t129903\t129903\t\t0\t\t0\t\t0\t\t\n", "q10k_tbl_80": "\tImmediate Change in Rates\n\t+300\t\t\t\t+200\t\t\t\t+100\t\t\t\t-100\t\n\t(Dollar Amounts in Thousands)\nAs of September 30 2020\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDollar Change\t$1115\t\t\t\t1519\t\t\t\t982\t\t\t\t(1993)\t\nPercentage Change\t1.95%\t\t\t\t2.65\t\t\t\t1.71\t\t\t\t(3.48)\t\n", "q10k_tbl_81": "Period\tTotal Number of Shares Purchased\tAverage Price Paid per Share\t\tTotal Number of Shares Purchased as Part of Publicly Announced Plans\t\tMaximum Number of Shares that May Yet Be Purchased Under the Plan(a)\t\nJuly 1 2020 - July 31 2020\t52650\t$15.31\t\t\t52650\t\t1947350\t\nAugust 1 2020 - August 31 2020\t299990\t\t15.57\t\t299990\t\t1647360\t\nSeptember 1 2020 - Setember 30 2020\t447322\t\t15.31\t\t447322\t\t1200038\t\nTotal\t799962\t$15.41\t\t\t799962\t\t1200038\t\n", "q10k_tbl_82": "Exhibit No.\tDescription\tFiled Herewith\n10.2\tForm of Incentive Stock Option Agreement (1)\t\n10.3\tForm of Non-Qualified Stock Option Agreement (1)\t\n10.4\tForm of Restricted Stock Award Agreement (1)\t\n10.5\tForm of Performance Based Restricted Stock Unit Agreement (1)\t\n10.6\tForm of Performance Based Restricted Stock Award Agreement (1)\t\n31.1\tSarbanes-Oxley Act Section 302 Certification signed by the Chief Executive Officer of Waterstone Financial Inc.\t\tX\n31.2\tSarbanes-Oxley Act Section 302 Certification signed by the Chief Financial Officer of Waterstone Financial Inc.\t\tX\n32.1\tCertification pursuant to 18 U.S. C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed by the Chief Executive Officer of Waterstone Financial Inc.\t\tX\n32.2\tCertification pursuant to 18 U.S. C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed by the Chief Financial Officer of Waterstone Financial Inc.\t\tX\n101\tThe following financial statements from Waterstone Financial Inc. Quarterly Report on Form 10-Q for the quarter ended September 30 2020 formatted in Inline Extensive Business Reporting Language (XBRL): (i) consolidated statements of financial condition (ii) consolidated statements of income (iii) consolidated statements of comprehensive income (iv) consolidated statements of changes in shareholders' equity (v) consolidated statements of cash flows and (vi) the notes to consolidated financial statements.\t\tX\n104\tCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)\t\tX\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_7"}None
☒Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended September 30, 2020
OR
☐Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Commission File Number 001-36271
WATERSTONE FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Maryland
90-1026709
(State or other jurisdiction of incorporation or organization)
(IRS Employer Identification No.)
11200 W. Plank CourtWauwatosa, Wisconsin
53226
(Address of principal executive offices)
(Zip Code)
(414) 761-1000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol
Name of each exchange on which registered
Common Stock, $0.01 Par Value
WSBF
The NASDAQ Stock Market, LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐
Accelerated filer☒
Non-accelerated filer ☐
Smaller reporting company ☐
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐ No ☒
The number of shares outstanding of the issuer’s common stock, $0.01 par value per share, was 25,161,736 at November 3, 2020.