10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2015

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 000-23667

HOPFED BANCORP, INC.

(Exact name of registrant as specified in its charter)

Delaware	61-1322555
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
4155 Lafayette Road, Hopkinsville, Kentucky	42240
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (270) 885-1171

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 ninety days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Date File required and posted pursuant to Rule 405 of Regulation S-T (subsection 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated file or a non-accelerated filer. See definition of “accelerated filer”, “large accelerated filer” and “smaller reporting company” in Rule12b-2 of the Exchange Act: (Check one)

Large accelerated filer	¨	Accelerated filer	x
Non-accelerated filer	¨	Smaller reporting company filer	¨

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x.

As of August 5, 2015, the Registrant had outstanding 6,975,308 shares of the Registrant’s Common stock.

CONTENTS

HOPFED BANCORP, INC.

		PAGE
PART I.	FINANCIAL INFORMATION
The unaudited consolidated condensed financial statements of the Registrant and its wholly owned subsidiaries are as follows:
Item 1.	Financial Statements
	Consolidated Condensed Statements of Financial Condition as of June 30, 2015, (unaudited) and December  31, 2014		2
	Consolidated Condensed Statements of Income (Loss) for the Three and Six Month Periods Ended June  30, 2015, and June 30, 2014 (unaudited)		4
	Consolidated Condensed Statements of Comprehensive Income (Loss) for the Three and Six Month Periods Ended June 30, 2015, and June 30, 2014 (unaudited)		6
	Consolidated Condensed Statement of Stockholders’ Equity for the Six Month Periods Ended June  30, 2015, and June 30, 2014 (unaudited)		7
	Consolidated Condensed Statements of Cash Flows for the Six Month Periods Ended June 30, 2015, and June  30, 2014 (unaudited)		9
	Notes to Unaudited Consolidated Condensed Financial Statements		10
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		41
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		54
Item 4.	Controls and Procedures		54
PART II	OTHER INFORMATION
Item 1.	Legal Proceedings		55
Item 1A.	Risk Factors		55
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		56
Item 3.	Defaults Upon Senior Securities		56
Item 4.	Mine Safety Disclosures		56
Item 5.	Other Information		56
Item 6.	Exhibits		57
SIGNATURES			58

1

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

HOPFED BANCORP, INC.

Consolidated Condensed Statements of Financial Condition

(Dollars in Thousands, Except Share and Per Share Amounts)

	June 30, 2015		December 31, 2014
	(Unaudited)
Assets
Cash and due from banks	$	16,538		34,389
Interest-earning deposits		3,145		6,050
Cash and cash equivalents		19,683		40,439
Federal Home Loan Bank stock, at cost		4,428		4,428
Securities available for sale		247,673		303,628
Loans held for sale		2,470		1,444
Loans receivable, net of allowance for loan losses of $5,534 at June 30, 2015, and $6,289 at December 31, 2014		554,806		539,264
Accrued interest receivable		3,873		4,576
Real estate and other assets owned		1,795		1,927
Bank owned life insurance		10,128		9,984
Premises and equipment, net		24,171		22,940
Deferred tax assets		1,668		2,261
Intangible asset		—		33
Other assets		6,918		4,861
Total assets	$	877,613		935,785
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Non-interest-bearing accounts	$	112,396		115,051
Interest-bearing accounts
Interest-bearing checking accounts		185,642		186,616
Savings and money market accounts		99,020		97,726
Other time deposits		320,461		331,915
Total deposits		717,519		731,308
Advances from Federal Home Loan Bank		9,000		34,000
Repurchase agreements		48,224		57,358
Subordinated debentures		10,310		10,310
Advances from borrowers for taxes and insurance		792		513
Dividends payable		296		301
Accrued expenses and other liabilities		3,216		3,593
Total liabilities		789,357		837,383

See accompanying Notes to Unaudited Consolidated Condensed Financial Statements.

2

HOPFED BANCORP, INC.

Consolidated Condensed Statements of Financial Condition, Continued

(Dollars in Thousands, Except Share and Per Share Amounts)

	June 30, 2015			December 31, 2014
	(Unaudited)
Stockholders’ equity
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; no shares issued and outstanding at June 30, 2015, and December 31, 2014.	$	—			—
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,950,436 issued and 6,977,245 outstanding at June 30, 2015, and 7,949,665 issued and 7,171,282 outstanding at December 31, 2014		79			79
Additional paid-in-capital		58,552			58,466
Retained earnings		46,455			45,729
Treasury stock - common (at cost, 973,191 shares at June 30, 2015, and 778,383 shares at December 31, 2014)		(12,159	)		(9,429	)
Unallocated ESOP shares (at cost, 570,830 shares at June 30, 2015, and no shares at December 31, 2014)		(7,525	)		—
Accumulated other comprehensive income, net of taxes		2,854			3,557
Total stockholders’ equity		88,256			98,402
Total liabilities and stockholders’ equity	$	877,613			935,785

The consolidated condensed statement of financial condition at December 31, 2014, has been derived from the audited financial statements as of that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

See accompanying Notes to Unaudited Consolidated Condensed Financial Statements.

3

HOPFED BANCORP, INC.

Consolidated Condensed Statements of Income (Loss)

(Dollars in Thousands, Except Per Share Amounts)

(Unaudited)

	For the Three Month Periods Ended June 30,					For the Six Month Periods Ended June 30,
	2015		2014			2015		2014
Interest income:
Loans receivable	$	6,231		6,503			12,521		12,830
Securities available for sale - taxable		1,268		1,694			3,716		3,473
Securities available for sale - nontaxable		416		531			869		1,075
Interest-earning deposits		4		6			8		14
Total interest income		7,919		8,734			17,114		17,392
Interest expense:
Deposits		1,245		1,488			2,505		2,959
Advances from Federal Home Loan Bank		66		428			135		862
Repurchase agreements		118		245			238		494
Subordinated debentures		183		193			367		377
Total interest expense		1,612		2,354			3,245		4,692
Net interest income		6,307		6,380			13,869		12,700
Provision for loan losses		270		(261	)		485		119
Net interest income after provision for loan losses		6,037		6,641			13,384		12,581
Non-interest income:
Service charges		720		848			1,434		1,626
Merchant card income		286		276			556		535
Mortgage origination revenue		343		133			520		191
Gain on sale of securities		83		241			449		254
Income from bank owned life insurance		73		66			144		161
Financial services commission		194		168			353		374
Other operating income		169		213			325		402
Total non-interest income		1,868		1,945			3,781		3,543

See accompanying Notes to Unaudited Consolidated Condensed Financial Statements.

4

HOPFED BANCORP, INC.

Consolidated Condensed Statements of Income (Loss), Continued

(Dollars in Thousands, Except Share and Per Share Amounts)

(Unaudited)

	For the Three Month Periods Ended June 30,					For the Six Month Periods Ended June 30,
	2015			2014		2015		2014
Non-interest expenses:
Salaries and benefits	$	4,004			3,692		8,188		7,487
Occupancy		752			808		1,490		1,717
Data processing		701			736		1,393		1,464
Bank franchise tax		251			398		499		644
Intangible amortization		16			33		32		65
Professional services		468			341		797		628
Deposit insurance and examination		151			183		268		380
Advertising		340			341		646		655
Postage and communications		134			140		266		283
Supplies		111			158		257		303
Loss on real estate owned		741			102		734		125
Real estate owned		67			92		204		222
Other operating		498			423		930		798
Total non-interest expense		8,234			7,447		15,704		14,771
Income (loss) before income tax		(329	)		1,139		1,461		1,353
Income tax expense (benefit)		(212	)		214		223		74
Net income (loss)	($	117	)		925		1,238		1,279
Net income (loss) per share:
Basic	($	0.02	)		0.13		0.19		0.17
Diluted	($	0.02	)		0.13		0.19		0.17
Dividend per share	$	0.04			0.04		0.08		0.08
Weighted average shares outstanding - basic		6,425,687			7,376,726		6,588,845		7,396,627
Weighted average shares outstanding - diluted		6,425,687			7,376,726		6,588,845		7,396,627

See accompanying Notes to Unaudited Consolidated Condensed Financial Statements.

5

HOPFED BANCORP, INC.

Consolidated Condensed Statements of Comprehensive Income (Loss)

(Dollars in Thousands)

(Unaudited)

	For the Three Month						For the Six Month
	Periods Ended June 30,						Periods Ended June 30,
	2015			2014			2015			2014
Net income (loss)	($	117	)		925			1,238			1,279
Other comprehensive income, net of tax:
Unrealized gains on securities for which a portion of an other than temporary impairment has been recorded in earnings:
Unrealized holding gains arising during the period		—			—			306			—
Income tax expense		—			—			(104	)		—
Other comprehensive income on available for sale for sale securities with other than temporary impairment		—			—			202			—
Unrealized gain (loss) on investment securities available for sale, net of tax effect of $907 and ($1,340) for the three month periods ended June 30, 2015, and June 30, 2014, respectively; and $379 and ($2,260) for the six month periods ended June 30, 2015, and June 30, 2014, respectively;		(1,761	)		2,601			(736	)		4,387
Unrealized gain on derivatives, net of tax effect of ($32) and ($31) for the three month periods ended June 30, 2015, and June 30, 2014, respectively; and of ($65) and ($56) for the six month periods ending June 30, 2015, and June 30, 2014, respectively;		63			60			127			109
Reclassification adjustment for gains included in net income, net of tax effect of $28 and $82 for the three month periods ended June 30, 2015, and June 30, 2014, respectively; and $153 and $86 the six month periods ended June 30, 2015, and June 30, 2014, respectively;		(54	)		(159	)		(296	)		(168	)
Other comprehensive income (loss) on available for sale without other than temporary impairment		(1,752	)		2,502			(905	)		4,328
Total other comprehensive income (loss)		(1,752	)		2,502			(703	)		4,328
Comprehensive income (loss)	($	1,869	)		3,427			535			5,607

See accompanying Notes to Unaudited Consolidated Condensed Financial Statements.

6

HOPFED BANCORP, INC.

Consolidated Condensed Statement of Stockholders’ Equity

For the Six Month Period Ended June 30, 2014

(Dollars in Thousands, Except Share Amounts)

(Unaudited)

	Shares Common Stock			Preferred Stock		Common Stock		Additional Capital Surplus		Retained Earnings			Treasury Stock Common			Accumulated Other Comprehensive Income			Total Stockholders Equity
Balance at December 31, 2013		7,447,903			—	$	79		58,302		44,694			(5,929	)		(1,429	)		95,717
Consolidated net income		—			—		—		—		1,279			—			—			1,279
Repurchase of treasury stock		(72,856	)		—		—		—		—			(838	)		—			(838	)
Restricted stock awards		20,238			—		—		—		—			—			—			—
Compensation expense, restricted stock awards		—			—		—		65		—			—			—			65
Net change in unrealized gain on securities available for sale, net of income taxes of $2,173		—			—		—		—		—			—			4,219			4,219
Net change in unrealized loss on derivatives, net of income tax benefit of $56		—			—		—		—		—			—			109			109
Cash dividend to common stockholders		—			—		—		—		(591	)		—			—			(591	)
Balance June 30, 2014		7,395,285			—	$	79		58,367		45,382			(6,767	)		2,899			99,960

See accompanying Notes to Unaudited Consolidated Condensed Financial Statements.

7

HOPFED BANCORP, INC.

Consolidated Condensed Statement of Stockholders’ Equity

For the Six Month Period Ended June 30, 2015

(Dollars in Thousands, Except Share Amounts)

(Unaudited)

	Shares Common Stock			Common Stock		Additional Capital Surplus			Retained Earnings			Treasury Stock Common			Unearned ESOP Shares			Accumulated Other Comprehensive Income			Total Stockholders Equity
Balance at December 31, 2014		7,171,282		$	79		58,466			45,729			(9,429	)		—			3,557			98,402
Consolidated net income		—			—		—			1,238			—			—			—			1,238
Treasury stock reissued		600,000			—		—			—			7,884			(7,884	)		—			—
Restricted stock issued		771			—		—			—			—			—			—			—
Repurchase of treasury stock		(794,808	)		—		—			—			(10,614	)		—			—			(10,614	)
ESOP shares committed to release		—			—		—			—			—			359			—			359
Change in price of ESOP shares		—			—		(12	)		—			—			—			—			(12	)
Compensation expense, restricted stock awards		—			—		98			—			—			—			—			98
Net change in unrealized gain on securities available for sale, net of income taxes of $428		—			—		—			—			—			—			(830	)		(830	)
Net change in unrealized loss on derivatives, net of income taxes of ($65)		—			—		—			—			—			—			127			127
Cash dividend to common stockholders		—			—		—			(512	)		—			—			—			(512	)
Balance June 30, 2015		6,977,245		$	79		58,552			46,455			(12,159	)		(7,525	)		2,854			88,256

See accompanying Notes to Unaudited Consolidated Condensed Financial Statements

8

HOPFED BANCORP, INC.

Consolidated Condensed Statements of Cash Flows

(Dollars in Thousands)

(Unaudited)

	For the Six Month Periods June 30,
	2015			2014
Cash flows from operating activities:
Net cash provided by operating activities	$	2,306		$	4,477
Cash flows from investing activities
Proceeds from sales, calls and maturities of securities available for sale		80,197			52,414
Purchase of securities available for sale		(25,989	)		(59,556	)
Net (increase) decrease in loans		(16,874	)		5,560
Proceeds from sale of foreclosed assets		240			249
Purchase of premises and equipment		(1,842	)		(508	)
Net cash provided by (used in) investing activities		35,732			(1,841	)
Cash flows from financing activities:
Net decrease in demand deposits		(2,655	)		(1,702	)
Net decrease in time and other deposits		(11,134	)		(18,026	)
Increase in advances from borrowers for taxes and insurance		279			202
Advances from Federal Home Loan Bank		15,000			15,000
Repayment of advances from Federal Home Loan Bank		(40,000	)		(21,004	)
Net decrease in repurchase agreements		(9,134	)		(1,634	)
Cash used to repurchase treasury stock		(10,614	)		(838	)
Dividends paid on common stock		(536	)		(591	)
Net cash used in financing activities		(58,794	)		(28,593	)
Decrease in cash and cash equivalents		(20,756	)		(25,957	)
Cash and cash equivalents, beginning of period		40,439			55,848
Cash and cash equivalents, end of period		19,683			29,891
Supplemental disclosures of cash flow information:
Interest paid	$	3,279			4,752
Income taxes paid	$	55			—
Supplemental disclosures of non-cash investing and financing activities:
Loans charged off	$	1,357			588
Foreclosures and in substance foreclosures of loans during period	$	842			190
Net unrealized gains (losses) on investment securities classified as available for sale	$	(1,258	)		6,392
Increase (decrease) in deferred tax asset related to unrealized gains on investments	$	428			(2,173	)
Dividends declared and payable	$	296			308
Issue of treasury stock to ESOP	$	7,884			—

See accompanying Notes to Unaudited Consolidated Condensed Financial Statements

9

NOTES TO UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

(1) BASIS OF PRESENTATION

HopFed Bancorp, Inc. (the “Company”) was formed at the direction of Heritage Bank USA Inc., formerly Hopkinsville Federal Savings Bank (the “Bank”), to become the holding company of the Bank upon the conversion of the Bank from a federally chartered mutual savings bank to a federally chartered stock savings bank. The conversion was consummated on February 6, 1998. The Company’s primary assets are the outstanding capital stock of the converted Bank, and its sole business is that of the converted Bank.

On June 5, 2013, the Bank’s legal name became Heritage Bank USA Inc. and the Bank was granted a commercial bank charter by the Kentucky Department of Financial Institutions (“KDFI”). On June 5, 2013, the Bank became subject to regulation by the KDFI and the Federal Deposit Insurance Corporation (“FDIC”). On the same day, HopFed Bancorp was granted a bank holding company charter by the Federal Reserve Bank of Saint Louis (“FED”) and as such regulated by the FED.

The Bank operates a mortgage division, Heritage Mortgage Services, in Clarksville, Tennessee with agents located in several of its markets. The Bank has a financial services division, Heritage Solutions, with offices in Murray, Kentucky, Kingston Springs, Tennessee, and Pleasant View, Tennessee. Heritage Wealth Management agents travel throughout western Kentucky and middle Tennessee offering fixed and variable annuities, mutual funds and brokerage services. In October of 2014, the Bank opened a loan production office in Nashville, Tennessee.

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of only normal recurring accruals) necessary for fair representation have been included. The results of operations and other data for the three month period ended June 30, 2015, are not necessarily indicative of results that may be expected for the entire fiscal year ending December 31, 2015.

The accompanying unaudited financial statements should be read in conjunction with the Consolidated Financial Statements and the Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The accounting policies followed by the Company are set forth in the Summary of Significant Accounting Policies in the Company’s December 31, 2014, Consolidated Financial Statements.

10

(2) INCOME (LOSS) PER SHARE

The following schedule reconciles the numerators and denominators of the basic and diluted income (loss) per share (“IPS”) computations for the three and six month periods ended June 30, 2015, and June 30, 2014. For the three and six month periods ended June 30, 2015, the Company’s financial statements reflect a liability adequate to release of 29,170 shares from the HopFed Bancorp, Inc. 2015 Employee Stock Ownership Plan (the “ESOP”). Therefore, the Company has included 29,170 shares held by the ESOP in the IPS calculation. The Company has excluded 570,830 unearned shares purchased and owned by the ESOP from our IPS computations. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrants outstanding.

	Three Month Period Ended June 30,
	2015			2014
Basic IPS:
Net income (loss)	($	117,000	)	$	925,000
Average common shares outstanding		6,425,687			7,376,726
Net income (loss) per share	($	0.02	)	$	0.13
Diluted IPS
Net income (loss)	($	117,000	)	$	925,000
Average common shares outstanding		6,425,687			7,376,726
Dilutive effect of stock options		—			—
Average diluted shares outstanding		6,425,687			7,376,726
Net income (loss) per share, diluted	($	0.02	)	$	0.13
	Six Month Period Ended June 30,
	2015			2014
Basic IPS:
Net income	$	1,238,000		$	1,279,000
Average common shares outstanding		6,588,845			7,396,627
Net income per share	$	0.19		$	0.17
Diluted IPS
Net income	$	1,238,000		$	1,279,000
Average common shares outstanding		6,588,845			7,396,627
Dilutive effect of stock options		—			—
Average diluted shares outstanding		6,588,845			7,396,627
Net income per share, diluted	$	0.19		$	0.17

11

(3) STOCK COMPENSATION

The Company incurred compensation cost related to the HopFed Bancorp, Inc. 2004 Long Term Incentive Plan of $49,000 and $98,000 for the three and six month periods ended June 30, 2015, and $35,000 and $65,000 for the three and six month periods ended June 30, 2014, respectively. The Company issued 771 shares during the three and six month periods ended June 30, 2015. The Company issued 20,238 shares of restricted stock during the three and six month periods ended June 30, 2014. The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at June 30, 2015:

Year Ending December 31,	Future Expense
2015	$	89,875
2016		135,283
2017		48,459
2018		5,630
2019		725
Total	$	279,972

The compensation committee may make additional awards of restricted stock, thereby increasing the future expense related to this plan. In addition, award vesting may be accelerated due to certain events as outlined in the restricted stock award agreement. Any acceleration of vesting will change the timing of, but not the aggregate amount of, compensation expense incurred.

12

(4) SECURITIES

Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluations. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.

At June 30, 2015, the Company has 61 securities with unrealized losses. The carrying amount of securities and their estimated fair values at June 30, 2015, were as follows:

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Restricted:
FHLB stock	$	4,428		—		—			4,428
Available for sale
U.S. Treasury securities	$	2,001		10		—			2,011
Agency debt securities		92,585		1,971		(539	)		94,017
Taxable municipal bonds		8,428		150		(78	)		8,500
Tax free municipal bonds		49,143		2,511		(202	)		51,452
Trust preferred securities		1,608		195		—			1,803
Mortgage-backed securities:
GNMA		21,874		252		(124	)		22,002
FNMA		32,733		423		(112	)		33,044
FHLMC		5,657		30		(34	)		5,653
SLMA CMO		3,806		—		(23	)		3,783
AGENCY CMO		25,316		186		(94	)		25,408
	$	243,151		5,728		(1,206	)		247,673

13

The carrying amount of securities and their estimated fair values at December 31, 2014, was as follows:

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Restricted:
FHLB stock	$	4,428		—		—			4,428
Available for sale
U.S. Treasury securities	$	3,977		3		—			3,980
Agency debt securities		101,654		2,125		(527	)		103,252
Tax free municipal bonds		57,399		3,814		(166	)		61,047
Taxable municipal bonds		11,871		235		(63	)		12,043
Trust preferred securities		1,600		—		(111	)		1,489
Commercial bonds		2,000		7		—			2,007
Mortgage-backed securities:
GNMA		27,535		670		(122	)		28,083
FNMA		50,617		694		(536	)		50,775
FHLMC		3,276		38		—			3,314
SLMA CMO		9,895		—		(252	)		9,643
AGENCY CMO		28,024		176		(205	)		27,995
	$	297,848		7,762		(1,982	)		303,628

The scheduled maturities of debt securities available for sale at June 30, 2015, were as follows:

June 30, 2015	Amortized Cost		Estimated Fair Value
Due within one year	$	4,830	$	4,927
Due in one to five years		16,675		16,972
Due in five to ten years		40,668		41,210
Due after ten years		26,089		27,452
		88,262		90,561
Amortizing agency bonds		65,503		67,222
Mortgage-backed securities		89,386		89,890
Total unrestricted securities available for sale	$	243,151	$	247,673

14

The scheduled maturities of debt securities available for sale at December 31, 2014, were as follows:

December 31, 2014	Amortized Cost		Estimated Fair Value
Due within one year	$	4,830	$	4,927
Due in one to five years		21,564		21,818
Due in five to ten years		41,683		42,613
Due after ten years		33,119		35,380
		101,196		104,738
Amortizing agency bonds		77,305		79,080
Mortgage-backed securities		119,347		119,810
Total unrestricted securities available for sale	$	297,848	$	303,628

The estimated fair value and unrealized loss amounts of temporarily impaired investments as of June 30, 2015, are as follows:

	Less than 12 months					12 months or longer					Total
	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
	(Dollars in Thousands)
Available for sale
U.S. Agency debt securities	$	20,573		(172	)		14,473		(367	)		35,046		(539	)
Taxable municipals		2,043		(15	)		2,994		(63	)		5,037		(78	)
Tax free municipals		1,475		(3	)		6,209		(199	)		7,684		(202	)
Mortgage-backed securities:
GNMA		4,954		(38	)		11,177		(86	)		16,131		(124	)
FNMA		7,338		(62	)		3,068		(50	)		10,406		(112	)
FHLMC		2,663		(34	)		—		—			2,663		(34	)
SLMA CMOs		183		(2	)		3,600		(21	)		3,783		(23	)
AGENCY CMOs		8,245		(29	)		1,970		(65	)		10,215		(94	)
Total available for sale	$	47,474		(355	)		43,491		(851	)		90,965		(1,206	)

15

The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2014, were as follows:

	Less than 12 months					12 months or longer					Total
December 31, 2014	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
Available for sale
U.S. Agency debt securities	$	14,021		(20	)		29,156		(507	)		43,177		(527	)
Taxable municipals		—		—			4,785		(63	)		4,785		(63	)
Tax free municipals		—		—			6,647		(166	)		6,647		(166	)
Trust preferred securities		—		—			1,489		(111	)		1,489		(111	)
Mortgage-backed securities:
GNMA		12,568		(108	)		2,895		(14	)		15,463		(122	)
FNMA		—		—			18,927		(536	)		18,927		(536	)
SLMA CMOs		1,923		(14	)		7,720		(238	)		9,643		(252	)
AGENCY CMOs		9,545		(91	)		7,685		(114	)		17,230		(205	)
Total available for sale	$	38,057		(233	)		79,304		(1,749	)		117,361		(1,982	)

At June 30, 2015, securities with a book value of approximately $162.8 million and a market value of approximately $168.2 million were pledged to various municipalities for deposits in excess of FDIC limits as required by law.

At June 30, 2015, securities with a book and market value of $42.2 million were sold under agreements to repurchase from various customers. Furthermore, the Company has a wholesale repurchase agreement with third party secured by investments with a combined book value of $6.9 million and a market value of $7.1 million. The repurchase agreement is in the amount of $6.0 million and has a maturity of September 18, 2016, and is currently callable on a quarterly basis and has a fixed rate of interest of 4.36%.

16

(5) LOANS

The components of loans receivable in the consolidated balance sheets as of June 30, 2015, and December 31, 2014, were as follows:

	June 30, 2015			June 30, 2015			December 31, 2014			December 31, 2014
	Amount			Percent			Amount			Percent
	(Dollars in thousands, except percentages)
Real estate loans
One-to-four family (closed end) first mortgages	$	146,285			26.1	%	$	150,551			27.6	%
Second mortgages (closed end)		2,046			0.4	%		2,102			0.4	%
Home equity lines of credit		33,803			6.0	%		34,238			6.3	%
Multi-family		22,580			4.0	%		25,991			4.8	%
Construction		27,072			4.8	%		24,241			4.4	%
Land		24,521			4.4	%		26,654			4.9	%
Farmland		41,224			7.4	%		42,874			7.8	%
Non-residential real estate		160,039			28.5	%		150,596			27.6	%
Total mortgage loans		457,570			81.6	%		457,247			83.8	%
Consumer loans		16,011			2.9	%		14,438			2.6	%
Commercial loans		87,148			15.5	%		74,154			13.6	%
Total other loans		103,159			18.4	%		88,592			16.2	%
Total loans, gross		560,729			100.0	%		545,839			100.0	%
Deferred loan cost, net of income		(389	)					(286	)
Less allowance for loan losses		(5,534	)					(6,289	)
Total loans	$	554,806					$	539,264

The allowance for loan losses totaled $5.5 million at June 30, 2015, $6.3 million at December 31, 2014, and $8.4 million at June 30, 2014, respectively. The ratio of the allowance for loan losses to total loans was 0.99% at June 30, 2015, 1.15% at December 31, 2014, and 1.53% at June 30, 2014. The following table indicates the type and level of non-accrual loans at the periods indicated below:

	June 30, 2015		December 31, 2014		June 30, 2014
	(Dollars in Thousands)
One-to-four family mortgages	$	1,456		1,501		524
Home equity line of credit		48		—		29
Multi-family		1,827		95		—
Land		1,982		215		1,217
Non-residential real estate		520		1,159		6,520
Farmland		209		115		13
Consumer loans		—		—		1
Commercial loans		1,014		90		431
Total non-accrual loans	$	7,056		3,175		8,735

17

The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the six month period ended June 30, 2015:

Six month period ended June 30, 2015	Balance 12/31/2014		Charge off 2015			Recovery 2015		General Provision 2015			Specific Provision 2015			Ending Balance 6/30/2015
One-to-four family mortgages	$	1,198		(88	)		21		61			(194	)		998
Home equity line of credit		181		(92	)		3		89			15			196
Junior liens		14		—			2		(2	)		(4	)		10
Multi-family		85		—			—		—			(12	)		73
Construction		146		—			—		—			20			166
Land		1,123		(631	)		—		84			597			1,173
Non-residential real estate		2,083		(222	)		2		(73	)		(150	)		1,640
Farmland		461		—			—		—			(94	)		367
Consumer loans		494		(177	)		73		91			(134	)		347
Commercial loans		504		(147	)		16		222			(31	)		564
	$	6,289		(1,357	)		117		472			13			5,534

The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the year ended December 31, 2014:

Year ended December 31, 2014	Balance 12/31/2013		Charge off 2014			Recovery 2014		General Provision 2014			Specific Provision 2014			Ending Balance 12/31/2014
One-to-four family mortgages	$	2,048		(233	)		24		(304	)		(337	)		1,198
Home equity line of credit		218		(83	)		3		(37	)		80			181
Junior liens		39		—			9		(25	)		(9	)		14
Multi-family		466		—			—		(381	)		—			85
Construction		88		(139	)		9		58			130			146
Land		1,305		—			—		(74	)		(108	)		1,123
Non-residential real estate		2,719		(66	)		864		(1,368	)		(66	)		2,083
Farmland		510		—			—		542			(591	)		461
Consumer loans		541		(415	)		109		(13	)		272			494
Commercial loans		748		(296	)		94		(244	)		202			504
	$	8,682		(1,232	)		1,112		(1,846	)		(427	)		6,289

18

The table below presents loan balances at June 30, 2015, by loan classification allocated between past due, performing and non-performing:

			30 – 89						Impaired Loans
	Currently		Days		Non-accrual		Special		Currently Performing
June 30, 2015	Performing		Past Due		Loans		Mention		Substandard		Doubtful		Total
	(Dollars in Thousands)
One-to-four family mortgages	$	142,987		398		1,456		42		1,402		—		146,285
Home equity line of credit		33,113		69		48		—		573		—		33,803
Junior liens		1,992		—		—		38		16		—		2,046
Multi-family		17,818		140		1,827		1,655		1,140		—		22,580
Construction		26,972		100		—		—		—		—		27,072
Land		14,425		—		1,982		44		8,070		—		24,521
Non-residential real estate		149,565		162		520		640		9,152		—		160,039
Farmland		40,143		168		209		681		23		—		41,224
Consumer loans		15,790		13		—		14		194		—		16,011
Commercial loans		84,772		126		1,014		169		1,067		—		87,148
Total	$	527,577		1,176		7,056		3,283		21,637		—		560,729

The table below presents loan balances at December 31, 2014, by loan classification allocated between past due, performing and non-performing:

			30 - 89						Impaired Loans
	Currently		Days		Non-accrual		Special		Currently Performing
	Performing		Past Due		Loans		Mention		Substandard		Doubtful		Total
One-to-four family mortgages	$	145,372		757		1,501		203		2,718		—		150,551
Home equity line of credit		33,338		143		—		—		757		—		34,238
Junior liens		2,025		—		—		40		37		—		2,102
Multi-family		20,066		—		95		2,904		2,926		—		25,991
Construction		24,241		—		—		—		—		—		24,241
Land		14,674		654		215		362		10,749		—		26,654
Non-residential real estate		131,854		—		1,159		5,492		12,091		—		150,596
Farmland		40,057		64		115		516		2,122		—		42,874
Consumer loans		14,104		14		—		21		299		—		14,438
Commercial loans		71,191		55		90		325		2,493		—		74,154
Total	$	496,922		1,687		3,175		9,863		34,192		—		545,839

19

The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of June 30, 2015, and December 31, 2014, by portfolio segment and based on the impairment method as of June 30, 2015, and December 31, 2014.

	Commercial		Land Development / Construction		Commercial Real Estate		Residential Real Estate		Consumer		Total
June 30, 2015:
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	91		116		445		46		48	$	746
Collectively evaluated for impairment		473		1,223		1,635		1,158		299		4,788
Total ending allowance balance	$	564		1,339		2,080		1,204		347	$	5,534
Loans:
Loans individually evaluated for impairment	$	2,081		10,052		12,871		3,495		194	$	28,693
Loans collectively evaluated for impairment		85,067		41,541		210,972		178,639		15,817		532,036
Total ending loans balance	$	87,148		51,593		223,843		182,134		16,011	$	560,729
	Commercial		Land Development / Construction		Commercial Real Estate		Residential Real Estate		Consumer		Total
December 31, 2014:
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	—		663		738		51		62	$	1,514
Collectively evaluated for impairment		504		606		1,891		1,342		432		4,775
Total ending allowance balance	$	504		1,269		2,629		1,393		494	$	6,289
Loans:
Loans individually evaluated for impairment	$	2,583		10,964		18,508		5,013		299	$	37,367
Loans collectively evaluated for impairment		71,571		39,931		200,953		181,878		14,139		508,472
Total ending loans balance	$	74,154		50,895		219,461		186,891		14,438	$	545,839

20

All loans listed as 30-89 days past due and non-accrual are not performing as agreed. Loans listed as special mentioned, substandard and doubtful are paying as agreed. However, the customer’s financial statements may indicate weaknesses in their current cash flow, the customer’s industry may be in decline due to current economic conditions, collateral values used to secure the loan may be declining, or the Company may be concerned about the customer’s future business prospects.

The Company does not originate loans it considers sub-prime and is not aware of any exposure to the additional credit concerns associated with sub-prime lending in either the Company’s loan or investment portfolios. The Company does have a significant amount of construction and land development loans. Management reports to the Company’s Board of Directors on the status of the Company’s specific construction and development loans as well as the market trends in those markets in which the Company actively participates.

The Company’s annualized net charge off ratios for six month periods ended June 30, 2015, June 30, 2014, and the year ended December 31, 2014, was 0.45%, 0.16% and 0.02%, respectively. The ratios of allowance for loan losses to non-accrual loans at June 30, 2015, June 30, 2014, and December 31, 2014, were 78.4%, 95.6%, and 198.08%, respectively.

The determination of the allowance for loan losses is based on management’s analysis, performed on a quarterly basis. Various factors are considered, including the market value of the underlying collateral, growth and composition of the loan portfolio, the relationship of the allowance for loan losses to outstanding loans, historical loss experience, delinquency trends and prevailing economic conditions. Although management believes its allowance for loan losses is adequate, there can be no assurance that additional allowances will not be required or that losses on loans will not be incurred.

The Company conducts annual reviews on all loan relationships above one million to ascertain the borrowers continued ability to service their debt as agreed. In addition to the credit relationships mentioned above, management may classify any credit relationship once it becomes aware of adverse credit trends for that customer. Typically, the annual review consists of updated financial statements for borrowers and any guarantors, a review of the borrower’s credit history with the Company and other creditors, and current income tax information.

As a result of this review, management will classify loans based on their credit risk. Additionally, the Company provides a risk grade for all loans past due more than sixty days. The Company uses the following risk definitions for risk grades:

Satisfactory loans of average strength having some deficiency or vulnerability to changing economic or industry conditions. These customers should have reasonable amount of capital and operating ratios. Secured loans may lack in margin or liquidity. Loans to individuals, perhaps supported in dollars of net worth, but with supporting assets may be difficult to liquidate.

21

Watch loans are acceptable credits: (1) that need continual monitoring, such as out-of territory or asset-based loans (since the Bank does not have an asset-based lending department), or (2) with a marginal risk level to business concerns and individuals that; (a) have exhibited favorable performance in the past, though currently experiencing negative trends; (b) are in an industry that is experiencing volatility or is declining, and their performance is less than industry norms; and (c) are experiencing unfavorable trends in their financial position, such as one-time net losses or declines in asset values. These marginal borrowers may have early warning signs of problems such as occasional overdrafts and minor delinquency. If considered marginal, a loan would be a “watch” until financial data demonstrated improved performance or further deterioration to a “substandard” grade usually within a 12-month period. In the table on page 23, Watch loans are included with satisfactory loans and classified as Pass.

Special Mention loans are currently protected but are potentially weak. These loans constitute an undue and unwarranted credit risk but not to the point of justifying a substandard classification. The credit risk may be relatively minor yet constitutes an unwarranted risk in light of the circumstances surrounding a specific loan. These credit weaknesses, if not checked or corrected, will weaken the loan or inadequately protect the Bank’s credit position at some future date.

A Substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. The loans are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. This does not imply ultimate loss of the principal, but may involve burdensome administrative expenses and the accompanying cost to carry the credit. Examples of substandard loans include those to borrowers with insufficient or negative cash flow, negative net worth coupled with inadequate guarantor support, inadequate working capital, and/or significantly past-due loans and overdrafts.

A loan classified Doubtful has all the weaknesses inherent in a substandard credit except that the weaknesses make collection or liquidation in full (on the basis of currently existing facts, conditions, and values) highly questionable and improbable. The possibility of loss is extremely high, but because of certain pending factors charge-off is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and refinancing plans. The doubtful classification is applied to that portion of the credit in which the full collection of principal and interest is questionable.

A loan is considered to be impaired when management determines that it is possible that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. The value of individually impaired loans is measured based on the present value of expected payments or using the fair value of the collateral less cost to sell if the loan is collateral dependent. Currently, it is management’s practice to classify all substandard or doubtful loans as impaired. At June 30, 2015, December 31, 2014, and June 30, 2014, the Company’s impaired loans totaled $28.7 million, $37.4 million and $37.7 million, respectively.

22

At June 30, 2015, December 31, 2014 and June 30, 2014, the Company’s specific reserve for impaired loans totaled $746,000, $1.5 million and $1.5 million respectively. Loans by classification type and the related allowance amounts at June 30, 2015, are as follows:

											Specific		Reserve
											Reserve		for
			Special		Impaired Loans						for		Performing
June 30, 2015	Pass		Mention		Substandard		Doubful		Total		Impairment		Loans
	(Dollars in Thousands)
One-to-four family mortgages	$	143,385		42		2,858		—		146,285		46		952
Home equity line of credit		33,182		—		621		—		33,803		—		196
Junior liens		1,992		38		16		—		2,046		—		10
Multi-family		17,958		1,655		2,967		—		22,580		—		73
Construction		27,072		—		—		—		27,072		—		166
Land		14,425		44		10,052		—		24,521		116		1,057
Non-residential real estate		149,727		640		9,672		—		160,039		445		1,195
Farmland		40,311		681		232		—		41,224		—		367
Consumer loans		15,803		14		194		—		16,011		48		299
Commercial loans		84,898		169		2,081		—		87,148		91		473
Total	$	528,753		3,283		28,693		—		560,729		746		4,788
Loans by classification type and the related valuation allowance amounts at December 31, 2014, are as follows:
			Special		Impaired Loans						Specific Allowance for		Allowance For Loans
	Pass		Mention		Substandard		Doubtful		Total		Impairment		Not Impaired
December 31, 2014
One-to-four family mortgages	$	146,129		203		4,219		—		150,551		51		1,147
Home equity line of credit		33,481		—		757		—		34,238		—		181
Junior lien		2,025		40		37		—		2,102		—		14
Multi-family		20,066		2,904		3,021		—		25,991		—		85
Construction		24,241		—		—		—		24,241		—		146
Land		15,328		362		10,964		—		26,654		663		460
Non-residential real estate		131,854		5,492		13,250		—		150,596		738		1,345
Farmland		40,121		516		2,237		—		42,874		—		461
Consumer loans		14,118		21		299		—		14,438		62		432
Commercial loans		71,246		325		2,583		—		74,154		—		504
Total	$	498,609		9,863		37,367		—		545,839		1,514		4,775

23

Impaired loans by classification type and the related valuation allowance amounts at June 30, 2015, were as follows:

							For the three month period ended
	At June 30, 2015						June 30, 2015
			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
Impaired loans with no recorded reserve
One-to-four family mortgages	$	2,148		2,175		—		2,408		11
Home equity line of credit		621		621		—		693		—
Junior liens		16		16		—		18		—
Multi-family		2,967		2,967		—		2,982		34
Construction		—		—		—		—		—
Land		9,456		10,087		—		8,376		20
Farmland		232		232		—		237		—
Non-residential real estate		8,949		8,949		—		9,580		18
Consumer loans		3		3		—		5		—
Commercial loans		1,727		1,727		—		1,607		21
Total		26,119		26,777		—		25,906		104
Impaired loans with a specific allowance:
One-to-four family mortgages		710		710		46		712		—
Home equity line of credit		—		—		—		—		—
Junior liens		—		—		—		—		—
Multi-family		—		—		—		—		—
Construction		—		—		—		—		—
Land		596		596		116		2,009		—
Farmland		—		—		—		—		—
Non-residential real estate		723		723		445		952		—
Consumer loans		191		191		48		185		—
Commercial loans		354		354		91		529		16
Total		2,574		2,574		746		4,387		16
Total impaired loans	$	28,693		29,351		746		30,293		120

24

Impaired loans by classification type and the related valuation allowance amounts at December 31, 2014, were as follows:

							For the year ended
	At December 31, 2014						December 31, 2014
			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
Impaired loans with no specific allowance
One-to-four family mortgages	$	3,501		3,501		—		2,972		176
Home equity line of credit		757		757		—		690		35
Junior liens		37		37		—		39		2
Multi-family		3,021		3,021		—		1,342		190
Construction		—		—		—		29		—
Land		7,740		7,740		—		8,978		339
Non-residential real estate		12,057		12,057		—		8,672		669
Farmland		2,237		2,237				3,968		125
Consumer loans		51		51		—		36		3
Commercial loans		2,583		2,583		—		2,246		154
Total		31,984		31,984		—		28,972		1,693
Impaired loans with a specific allowance
One-to-four family mortgages	$	718		718		51		1,434		44
Home equity line of credit		—		—		—		—		—
Junior liens		—		—		—		—		—
Multi-family		—		—		—		—		—
Construction		—		—		—		—		—
Land		3,224		4,737		663		3,418		160
Non-residential real estate		1,193		1,258		738		3,617		69
Farmland		—		—		—		619		—
Consumer loans		248		248		62		355		—
Commercial loans		—		—		—		100		—
Total		5,383		6,961		1,514		9,543		273
Total impaired loans	$	37,367		38,945		1,514		38,515		1,966

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On a periodic basis, the Bank may modify the terms of certain loans. In evaluating whether a restructuring constitutes a troubled debt restructuring (TDR), Financial Accounting Standards Board has issued Accounting Standards Update 310 (ASU 310), A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. In evaluating whether a restructuring constitutes a TDR, the Bank must separately conclude that both of the following exist:

• The restructuring constitutes a concession

• The debtor is experiencing financial difficulties

ASU 310 provides the following guidance for the Bank’s evaluation of whether it has granted a concession as follows:

• If a debtor does not otherwise have access to funds at a market interest rate for debt with similar risk characteristics as the restructured debt, the restructured debt would be considered a below market rate, which may indicate that the Bank may have granted a concession. In that circumstance, the Bank should consider all aspects of the restructuring in determining whether it has granted a concession, the creditor must make a separate assessment about whether the debtor is experiencing financial difficulties to determine whether the restructuring constitutes a TDR.

• A temporary or permanent increase in the interest rate on a loan as a result of a restructuring does not eliminate the possibility of the restructuring from being considered a concession if the new interest rate on the loan is below the market interest rate for loans of similar risk characteristics.

• A restructuring that results in a delay in payment that is insignificant is not a concession. However, the Bank must consider a variety of factors in assessing whether a restructuring resulting in a delay in payment is insignificant.

At December 31, 2014, and June 30, 2015, the Company had two loans classified as performing TDRs. At June 30, 2015, the terms of both loans are interest only and are paying as agreed. There was no activity in loans classified as TDRs for the six month ended June 30, 2015. A summary of the activity in loans classified as TDRs for the six month period ended June 30, 2015, is as follows:

	Balance at 12/31/14		New TDR		Loss or Foreclosure		Transferred to Held For Sale		Removed from (Taken to) Non-accrual		Balance at 6/30/15
	(Dollars in Thousands)
Non-residential real estate	$	3,284		—		—		—		—		3,284
Total performing TDR	$	3,284		—		—		—		—		3,284

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A summary of the activity in loans classified as TDRs for the twelve month period ended December 31, 2014, is as follows:

	Balance at 12/31/13		New TDR		Loss or Foreclosure		Transferred to Held For Sale			Removed from (Taken to) Non-accrual		Balance at 12/31/14
	(Dollars in Thousands)
One-to-four family mortgages	$	—		—		—		—			—	$	—
Non-residential real estate		—		10,271		—		(6,987	)		—		3,284
Commercial loans		—		—		—		—			—		—
Total performing TDR	$	—		10,271		—		(6,987	)		—	$	3,284

(6) REAL ESTATE AND OTHER ASSETS OWNED

The Company’s real estate and other assets owned represent properties and personal collateral acquired through customer loan defaults. The property is recorded at the lower of cost or fair value less estimated cost to sell and carrying cost at the date acquired. Any difference between the book value and estimated market value is recognized as a charge off through the allowance for loan loss account. Additional real estate owned and other asset losses may be determined on individual properties at specific intervals or at the time of disposal. In general, the Company will obtain a new appraisal on all real estate owned with a book balance in excess of $250,000 on an annual basis. Additional losses are recognized as a non-interest expense.

At June 30, 2015, December 31, 2014, and June 30, 2014, the composition of the Company’s balances in both real estate and assets owned and non-accrual loans are as follows:

	June 30, 2015			December 31, 2014			June 30, 2014
	(Dollars in Thousands)
One-to-four family mortgages	$	115			159			356
Land		943			1,768			934
Non-residential real estate		737			—			200
Total other assets owned	$	1,795			1,927			1,490
Total non-accrual loans	$	7,056			3,175			8,735
Total non-performing assets	$	8,851			5,102			10,225
Non-performing assets / Total assets		1.01	%		0.55	%		1.08	%

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The following is a summary of the activity in the Company’s real estate and other assets owned for the six month period ending June 30, 2015:

	Balance		Activity During 2015					Reduction		Gain (Loss)			Balance
	12/31/2014		Foreclosures		Proceeds			in Values		on Sale			6/30/2015
	(Dollars in Thousands)
One-to-four family mortgages	$	159		105		(116	)		—		(33	)		115
Land		1,768		—		(124	)		—		(701	)		943
Non-residential real estate		—		737		—			—		—			737
Total	$	1,927		842		(240	)		—		(734	)		1,795

The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2014:

	Activity During 2014
	Balance 12/31/2013		Foreclosures		Sales			Reduction in Values			Gain (Loss) on Sale			Balance 12/31/2014
	(Dollars in Thousands)
One-to-four family mortgages	$	350		461		(667	)		(5	)		20			159
Land		1,124		943		(123	)		(157	)		(19	)		1,768
Non-residential real estate		200		175		(328	)		—			(47	)		—
Total	$	1,674		1,579		(1,118	)		(162	)		(46	)		1,927

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(7) INVESTMENTS IN AFFILIATED COMPANIES

Investments in affiliated companies accounted for under the equity method consist of 100% of the common stock of HopFed Capital Trust 1 (“Trust”), a wholly-owned statutory business trust. The Trust was formed on September 25, 2003. Summary financial information for the Trust follows (dollars in thousands):

Summary Statements of Financial Condition

	At June 30, 2015		At December 31, 2014
Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc.	$	10,310		10,310
Liabilities		—		—
Stockholder’s equity – trust preferred securities		10,000		10,000
Common stock (100% Owned by HopFed Bancorp, Inc.)		310		310
Total stockholders’ equity	$	10,310		10,310

Summary Statement of Income

	Three Month Periods Ended June 30,				Six Month Period Ended June 30,
	2015		2014		2015		2014
Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc.	$	89		87	$	174		173
Net income	$	89		87	$	174		173

Summary Statement of Stockholders’ Equity

(For the six month period ended June 30, 2015)

	Trust Preferred Securities		Common Stock		Retained Earnings			Total Stockholders’ Equity
Beginning balances, December 31, 2014	$	10,000		310		—			10,310
Net income		—		—		174			174
Dividends:
Trust preferred securities		—		—		(169	)		(169	)
Common paid to HopFed Bancorp, Inc.		—		—		(5	)		(5	)
Ending balances, June 30, 2015	$	10,000		310		—			10,310

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(8) FAIR VALUE OF ASSETS AND LIABILITIES

In September 2006, the FASB issued ASC 820-10, Fair Value Measurements. This Statement defines fair value, establishes a framework for measuring fair value and expands disclosure about fair value. The statement establishes a fair value hierarchy which requires an entity to maximize the use of observable input and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value.

• Level 1 is for assets and liabilities that management has obtained quoted prices (unadjusted for transaction cost) or identical assets or liabilities in active markets that the Company has the ability to access as of the measurement date.

• Level 2 is for assets and liabilities in which significant unobservable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

• Level 3 is for assets and liabilities in which significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company’s $1.8 million trust preferred is the only investment instrument classified as a Level 3 asset. The Company determines the value of the instrument by using the present value of scheduled future cash flows and discount accretion to determine an estimated market value for the security.

The fair values of securities available for sale are determined by a matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without exclusively using quoted prices for the individual securities in the Company’s portfolio but rather by relying on the securities relationship to other benchmark quoted securities. Impaired loans are valued at the net present value of expected payments using the fair value of any assigned collateral. The liability associated with the Company’s derivative is obtained from a quoted value supplied by our correspondent banker. The value of real estate owned is obtained from appraisals completed on properties at the time of acquisition and annually thereafter.

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Assets and Liabilities Measured on a Recurring Basis

The assets and liabilities measured at fair value on a recurring basis at June 30, 2015, are summarized below:

June 30, 2015 Description	Total carrying value in the consolidated balance sheet at June 30, 2015		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Available for sale securities	$	247,673		2,010		243,860		1,803
Liabilities
Interest rate swap	$	198		—		198		—

The assets and liabilities measured at fair value on a recurring basis at December 31, 2014, are summarized below

December 31, 2014 Description	Total carrying value in the consolidated balance sheet at December 31, 2014		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Available for sale securities	$	303,628		—		302,139		1,489
Liabilities
Interest rate swap	$	390		—		390		—

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The assets and liabilities measured at fair value on a non-recurring basis are summarized below for June 30, 2015:

June 30, 2015 Description	Total carrying value in the consolidated balance sheet at 6/ 30/ 2015		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in Thousands)
Assets
Other real estate and other assets owned	$	1,795		—		—	$	1,795
Impaired loans, net of reserve of $746	$	1,828		—		—	$	1,828

The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2014:

December 31, 2014 Description	Total carrying value in the consolidated balance sheet at 12/31/2014		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Other real estate and other assets owned	$	1,927		—		—	$	1,927
Impaired loans, net of reserve of $1,514	$	3,869		—		—	$	3,869

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The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the six month periods ended June 30, 2015, and June 30, 2014, (including the change in fair value) for assets and liabilities classified by HopFed Bancorp, Inc. within level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis. When a determination is made to classify an asset or liability within level 3 of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement. However, since level 3 assets and liabilities typically include, in addition to the unobservable or level 3 components, observable components (that is components that are actively quoted and can be validated to external sources), the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology.

	2015				2014
Six month period ended June 30,	Other Assets		Other Liabilities		Other Assets		Other Liabilities
	(Dollars in Thousands)
Fair value, January 1,	$	1,489		—		1,489		—
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at June 30,		306		—		—		—
Accretion of previous discounted amounts		8
Purchases, issuances and settlements, net		—		—		—		—
Transfers in and/or out of Level 3		—		—		—		—
Fair value, June 30,	$	1,803		—		1,489		—

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The estimated fair values of financial instruments were as follows at June 30, 2015:

	Carrying Amount		Estimated Fair Value		Quoted Prices In Active Markets for Identical Assets Level 1		Using Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3
Financial Assets:
Cash and due from banks	$	16,538		16,538		16,538		—		—
Interest-earning deposits		3,145		3,145		3,145		—		—
Securities available for sale		247,673		247,673		2,010		243,860		1,803
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans held for sale		2,470		2,470		—		2,470		—
Loans receivable		554,806		554,193		—		—		554,193
Accrued interest receivable		3,873		3,873		—		3,873		—
Financial liabilities:
Deposits		717,519		700,283		—		700,283		—
Advances from borrowers for taxes and insurance		792		792		—		792		—
Advances from Federal Home Loan Bank		9,000		9,136		—		9,136		—
Repurchase agreements		48,224		48,485		—		48,485		—
Subordinated debentures		10,310		10,099		—		—		10,099
Off-balance-sheet liabilities:
Market value of interest rate swap		198		198		—		198		—

34

The estimated fair values of financial instruments were as follows at December 31, 2014:

	Carrying Amount		Estimated Fair Value		Quoted Prices In Active Markets for Identical Assets Level 1		Using Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3
Financial Assets:
Cash and due from banks	$	34,389		34,389		34,389		—		—
Interest-earning deposits		6,050		6,050		6,050		—		—
Securities available for sale		303,628		303,628		—		302,139		1,489
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans held for sale		1,444		1,444		—		1,444		—
Loans receivable		539,264		537,493		—		—		537,493
Accrued interest receivable		4,576		4,576		—		4,576		—
Financial liabilities:
Deposits		731,308		714,750		—		714,750		—
Advances from borrowers for taxes and insurance		513		513		—		513		—
Advances from Federal Home Loan Bank		34,000		34,217		—		34,217		—
Repurchase agreements		57,358		57,688		—		57,688		—
Subordinated debentures		10,310		10,099		—		—		10,099
Off-balance-sheet liabilities:
Market value of interest rate swap		390		390		—		390		—

(9) DERIVATIVE INSTRUMENTS

Under guidelines of Financial Accounting Standards Board (“FASB”) ASC 815, Derivative Instruments and Hedging Activities, as amended, all derivative instruments are required to be carried at fair value on the consolidated statement of financial position. ASC 815 provides special hedge accounting provisions, which permit the change in fair value of the hedge item related to the risk being hedged to be recognized in earnings in the same period and in the same income statement line as the change in the fair value of the derivative.

A derivative instrument designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges under ASC 815. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Cash value hedges are accounted for by recording the fair value of the derivative instrument and the fair value related to the risk being hedged of the hedged asset or liability on the consolidated statement of financial position with corresponding offsets recorded in the consolidated statement of financial position.

35

The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the income or expense recorded on the hedged asset or liability.

Under both the fair value and cash flow hedge methods, derivative gains and losses not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instrument has been highly effective in offsetting changes in the fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been, or will not continue to be highly effective as a hedge, hedged accounting is discontinued. ASC 815 basis adjustments recorded on hedged assets and liabilities are amortized over the remaining life of the hedged item beginning no later than when hedge accounting ceases. There were no fair value hedging gains or losses, as a result of hedge ineffectiveness, recognized for the six month period ended June 30, 2015, or the year ended December 31, 2014.

In October of 2008, the Bank entered into an interest rate swap agreement for a term of seven years and an amount of $10.0 million. The Bank will pay a fixed rate of 7.27% for seven years and receive an amount equal to the three-month London Interbank Lending Rate (LIBOR) plus 3.10%. The interest rate swap is classified as a cash flow hedge by the Bank and will be tested quarterly for effectiveness. At June 30, 2015, and December 31, 2014, the cost of the Bank to terminate the cash flow hedge was approximately $198,000 and $390,000, respectively. The interest rate swap agreement expires October 8, 2015.

(10) EFFECT OF NEW ACCOUNTING PRONOUNCEMENTS

In January 2014, the FASB issued ASU No. 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. These amendments are intended to clarify when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. The amendments clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either: (1) the creditor obtaining legal title to the residential real estate property upon completion of residential foreclosure, or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additional disclosures about such activities are required by these amendments. The amendments in this ASU become effective for public companies for annual periods and interim periods within those annual periods beginning after December 15, 2014, and early adoption is permitted. The adoption of ASU 2014-04 did not have a material impact on the Company’s financial position or results of operations.

36

On June 12, 2014, the FASB issued ASU 2014-11, which makes limited amendments to the guidance in ASC 860 on accounting for certain repurchase agreements (“repos”). ASU 2014-11 requires entities to account for repurchase-to-maturity transactions as secured borrowings (rather than as sales with forward repurchase agreements), (2) eliminates accounting guidance on linked repurchase financing transactions, and (3) expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers (specifically, repos, securities lending transactions, and repurchase-to-maturity transactions) accounted for as secured borrowings. ASU 2014-11 also amends ASC 860 to clarify that repos and securities lending transactions that do not meet all of the de-recognition criteria in ASC 860-10-40-5 should be accounted for as secured borrowings. In addition, the ASU provides examples of repurchase and securities lending arrangements that illustrate whether a transferor has maintained effective control over the transferred financial assets. For public business entities, the accounting changes are effective for the first interim or annual period beginning after December 15, 2014. The adoption of ASU 2014-11 did not have a material impact on the Company’s financial position or results of operations.

ASU 2014-1, which amends FASB ASC Topic 323, Investments – Equity Method and Joint Ventures. The ASU impacts the Company’s accounting for investments in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low-income housing tax credit. The amendments in the update permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received. The entity recognizes the net investment performance in the income statement as a component of income tax expense. The Company has chosen to continue to utilize the equity method for reporting under this topic. For public business entities, the accounting changes are effective for annual periods and interim reporting periods beginning after December 15, 2014. The adoption of ASU 2014-01 did not have a material impact on the Company’s financial position or results of operations.

ASU No. 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” The amendments in the ASU require that a performance target that affects vesting and that could be achieved after the requisite service period is treated as a performance condition. A reporting entity should apply existing guidance in Topic 718, Compensation - Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. However, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest.

37

The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. The Company adopted ASU No. 2014-12 effective January 1, 2015. Entities may apply the amendments in this ASU either: (1) prospectively to all awards granted or modified after the effective date; or (2) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. As of March 31, 2015, the Company did not have any share-based payment awards that included performance targets that could be achieved after the requisite service period. As such, the adoption of ASU No. 2014-12 did not have a material impact on the Company’s Consolidated Financial Statements.

ASU 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) – Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” ASU 2015-01 eliminates from U.S. GAAP the concept of extraordinary items, which, among other things, required an entity to segregate extraordinary items considered to be unusual and infrequent from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. ASU 2015-01 is effective for the Corporation beginning January 1, 2016, though early adoption is permitted. ASU 2015-01 is not expected to have a significant impact on the Company’s consolidated financial position or results of operations.

ASU No. 2015-02, “Amendments to the Consolidation Analysis.” This ASU affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments: (1) Modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities; (2) Eliminate the presumption that a general partner should consolidate a limited partnership; (3) Affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) Provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU No. 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company is currently evaluating the provisions of ASU No. 2015-02 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. In May 2014, the FASB issued new guidance related to Revenue from Contracts with Customers. This guidance supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Accounting Standards Codification. The guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016; however, the FASB has proposed a one year deferral of the effective date. The Company is currently evaluating this guidance to determine the impact on its consolidated financial statements.

Effective January 1, 2015, the Company adopted new guidance related to Receivables. The new guidance requires that a government guaranteed mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if certain conditions are met. The adoption of this guidance was not material to the consolidated financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

38

(11) INCOME TAXES

The Company and its subsidiaries file consolidated federal income tax returns and Tennessee excise tax returns. The Company and its non-bank subsidiaries filed consolidated Kentucky income tax returns. The Bank is exempt from Kentucky corporate income tax. The Company has no unrecognized tax benefits and has accrued any interest or penalties for uncertain tax positions. The effective tax rate differs from the statutory federal rate of 34% and Tennessee excise rate of 6.50% due to investments in qualified municipal securities; bank owned life insurance, income apportioned to Kentucky and certain non-deductible expenses.

(12) OTHER ASSETS

The Company has invested in two flow-through limited liability entities that manage and invest in affordable housing projects that qualify for historic, low-income and elderly housing tax credits. At June 30, 2015, the Company’s total investment in each entity was $422,000 and $1.0 million, respectively. The Company has no future capital commitments to either entity. The amounts recognized in net income for these investments for the three and six month periods below include:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2015		2014		2015		2014
Investment loss included in pre-tax income	$	55		51	$	110		102
Tax credits recognized in provision for income taxes	$	24		20	$	48		40

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(13) ESOP PLAN

All Company employees participate in the 2015 HopFed Bancorp, Inc. Employee Stock Ownership Plan (ESOP). The ESOP purchased 600,000 shares of the Company’s common stock from the Company on March 2, 2015, at $13.14 per share. The ESOP borrowed $7.9 million from the Company for the purchase of the stock, using the 600,000 shares of common stock as collateral. The Company makes discretionary contributions to the ESOP. The ESOP utilizes these contributions along with the dividends on the 600,000 held by the ESOP to repay the loan from the Company. When loan payments are made, ESOP shares are released based on reduction in the principal balance of the loan.

The shares are allocated to participants based on relative compensation. Employees who are not employed at the December 31^st of each year are not eligible for participation in the ESOP. The Company anticipates that loan payments will be made at the end of each year. Participants receive shares at the end of employment. The Company has the option to repurchase the shares or to provide the shares directly to the employee.

At June 30, 2015, the ESOP has not made a loan payment to the Company. At June 30, 2015, the Company has an accrued ESOP contribution liability of approximately $437,000. At June 30, 2015, the Company has calculated that our current accrual would be sufficient to release 29,170 shares of ESOP shares to participants. At June 30, 2015, shares held by the ESOP were as follows:

Accrued to allocate to Participants		29,170
Unearned ESOP shares		570,830
Total ESOP shares		600,000
Fair value of unearned shares	$	6,450,375

40

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Critical Accounting Policies

The consolidated condensed financial statements as of June 30, 2015, and December 31, 2014, and for the three and six month periods ended June 30, 2015, and June 30, 2014, included herein have been prepared by the Company, without an audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in interim financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the financial statements and notes thereon included in the Company’s 2014 Annual Report to Stockholders on Form 10-K.

Certain of the Company’s accounting policies are important to the portrayal of the Company’s financial condition, since they require management to make difficult, complex or subjective judgments, some of which may relate to matters that are inherently uncertain. Estimates associated with these policies are susceptible to material changes as a result of changes in facts and circumstances. Facts and circumstances, which could affect these material judgments, include, but without limitation, changes in interest rates, in the performance of the economy or in the financial condition of borrowers. Management believes that its critical accounting policies include determining the allowance for loan losses, determining the fair value of securities and other financial instruments, and assessing other than temporary impairments of securities.

Comparison of Financial Condition at June 30, 2015, and December 31, 2014

At June 30, 2015, total assets declined $58.2 million, to $877.6 million as compared to $935.8 million at December 31, 2014, largely due to lower levels of time deposits, Federal Home Loan Bank (“FHLB”) advances, customer repurchase account balances and the purchase of $10.6 million in treasury stock. Securities available for sale declined from $303.6 million at December 31, 2014, to $247.7 million at June 30, 2015. At June 30, 2015, and December 31, 2014, securities classified as “available for sale” had an amortized cost of $243.2 million and $297.8 million, respectively.

The Company’s holdings of Federal Home Loan Bank of Cincinnati (FHLB) stock, at cost was $4.4 million at December 31, 2014, and June 30, 2015. Total Federal Home Loan Bank “FHLB” borrowings declined $25.0 million, from $34.0 million at December 31, 2014, to $9.0 million at June 30, 2015. Total repurchase balances decreased from $57.4 million at December 31, 2014, to $48.2 million at June 30, 2015. Net loans totaled $554.8 million and $539.3 million at June 30, 2015, and December 31, 2014, respectively.

41

At June 30, 2015, deposits declined to $717.5 million from $731.3 million at December 31, 2014. At June 30, 2015, non-interest checking account balances are $112.4 million, or 15.66% of total deposits as compared to $115.1 million, or 15.73% of total deposits at December 31, 2014. At June 30, 2015, time deposits were $320.5 million, representing a decline of $11.4 million as compared to December 31, 2014. The average cost of all deposits during the three month periods ended June 30, 2015 and June 30, 2014, was 0.69% and 0.78%, respectively.

At June 30, 2015, the Company has a $98.0 million in time deposits that are scheduled to mature between December 1, 2015, and February 28, 2016. The weighted average cost of time deposits maturing during this time frame is 1.86%, representing an annual interest expense of approximately $1.8 million.

Comparison of Operating Results for the Six Month Periods Ended June 30, 2015 and 2014.

Net Income. The Company’s net income was $1.2 million for the six month period ended June 30, 2015, as compared to net income of $1.3 million for the six month period ended June 30, 2014. The decline in the Company’s results for the six month period ended June 30, 2015, was largely the result of an increase in non-interest expenses which offset an improved level of net interest income.

Net Interest Income. Net interest income for the six month period ended June 30, 2015, was $13.9 million, compared to $12.7 million for the six month period ended June 30, 2014. The increase in net interest income for the six months ended June 30, 2015, as compared to June 30, 2014, was due to a $1.4 million decline in the Company’s interest expense and the collection of $830,000 of past due investment income from our investment in a subordinated debenture originally issued by First Financial Services Corporation (“FFKY”). FFKY was sold in January 2015 and the purchaser paid all interest current.

For the six months ended June 30, 2015, the average yield on loans was 4.58%, as compared to 4.79% for the six month period ended June 30, 2014. For the six month periods ended June 30, 2015, and June 30, 2014, income on taxable securities was $3.7 million and $3.5 million, respectively. For the six month period ending June 30, 2015, the tax equivalent yield on taxable and tax free securities were 3.46% and 4.70%, respectively, as compared to 2.63% and 4.82% for the six -month period ended June 30, 2014, respectively. For the six month period ended June 30, 2015, the yield on taxable securities excluding the recovery income from the FFKY sale was 2.69%.

For the six month periods ended June 30, 2015, and June 30, 2014, the Company’s cost of interest bearing liabilities was 0.94% and 1.24%, respectively. The lower cost of interest bearing liabilities was largely the result of the prepayment of FHLB advances in December 2014. For the six month period ended June 30, 2015, and June 30, 2014, the Company’s net interest margin was 3.48% and 3.01%, respectively.

42

Average Balances, Yields and Interest Expenses. The table on the next page summarizes the overall effect of changes in both interest rates and the average balances of interest earning assets and liabilities for the six -month periods ended June 30, 2015, and June 30, 2014. Yields on assets and cost of liabilities are derived by dividing income or expense by the average daily balances of interest earning assets and liabilities for the appropriate six -month periods. Average balances for loans include loans classified as non-accrual, net of the allowance for loan losses. The table adjusts tax-free investment income by $429,000 for the six month period ended June 30, 2015, and $524,000 for the six month period ended June 30, 2014, for a tax equivalent rate using a cost of funds rate of 0.94% for June 30, 2015, and 1.24% for June 30, 2014. The table adjusts tax-free loan income by $7,000 for June 30, 2015, and $6,000 for June 30, 2014, respectively, for a tax equivalent rate using the same cost of funds rate:

	Average Balance 06/30/2015		Income & Expense 06/30/2015			Average Rates 06/30/2015			Average Balance 06/30/2014		Income & Expense 06/30/2014			Average Rates 06/30/2014
Loans	$	547,071	$	12,528			4.58	%	$	535,830	$	12,836			4.79	%
Investments AFS taxable		214,920		3,716			3.46	%		264,596		3,473			2.63	%
Investments AFS tax free		55,281		1,298			4.70	%		66,303		1,599			4.82	%
Interest earning deposits		6,046		8			0.26	%		11,225		14			0.25	%
Total interest earning assets		823,318		17,550			4.26	%		877,954		17,922			4.08	%
Other assets		73,916								81,908
Total assets	$	897,234							$	959,862
Retail time deposits	$	290,499		1,676			1.15	%	$	326,464		1,890			1.16	%
Brokered deposits		34,006		190			1.12	%		44,061		291			1.32	%
Interest bearing checking accounts		192,921		538			0.56	%		189,518		682			0.72	%
MMDA and savings accounts		100,242		101			0.20	%		93,630		96			0.21	%
FHLB borrowings		20,685		135			1.31	%		43,775		862			3.94	%
Repurchase agreements		41,999		238			1.13	%		47,670		494			2.07	%
Subordinated debentures		10,310		367			7.12	%		10,310		377			7.31	%
Total interest bearing liabilities		690,662		3,245			0.94	%		755,428		4,692			1.24	%
Non-interest bearing deposits		111,120								101,987
Other non-interest bearing liabilities		3,413								4,525
Stockholders’ equity		92,039								97,922
Total liabilities and stockholders’ equity	$	897,234							$	959,862
Interest rate spread				14,305			3.32	%				13,230			2.84	%
Net interest margin				3.48	%							3.01	%

43

Interest Income. For the six month periods ended June 30, 2015, and June 30, 2014, the Company’s total interest income was $17.1 million and $17.4 million, respectively. For the six month period ended June 30, 2015, and June 30, 2014, interest income on loans was $12.5 million and $12.8 million, respectively. The average balance of loans receivable increased from $535.8 million for the six month period ended June 30, 2014, to $547.1 million for the six month period ended June 30, 2015. The ratio of average interest-earning assets to average interest-bearing liabilities increased from 116.2% for the six months ended June 30, 2014, to 119.2% for the six months ended June 30, 2015.

Interest Expense. Interest expense declined $1.4 million for the six month period ended June 30, 2015, as compared to the six month period ended June 30, 2014. For the six month period ending June 30, 2015, the Company’s interest expense on FHLB advances was $135,000, compared to $862,000 for the six month period ended June 30, 2014. The Company’s decision to prepay $35.9 million in FHLB advances was the most significant contributing factor in the reduction of the Company’s borrowing expense. The average balance of funds borrowed from the FHLB declined to $20.7 million, from $43.8 million for the six months ended June 30, 2014. The average cost of FHLB borrowing were 3.94% for the six months ended June 30, 2014, and 1.31% for the six months ended June 30, 2015.

The average cost of brokered deposits declined from 1.32% for the six months ended June 30, 2014, to 1.12% for the six months ended June 30, 2015. Over the same period, the average balance of brokered deposits declined $10.1 million to $34.0 million for the six month period ended June 30, 2015, as compared to the six month period ended June 30, 2014. For the six month period ended June 30, 2015, the Company’s total cost of deposits was 0.69% as compared to 0.78% for the six month period ended June 30, 2014.

The average balance of repurchase agreements decreased from $47.7 million for the six months ended June 30, 2014, to $42.0 million for the six month period ended June 30, 2015. The average cost of repurchase agreements was 2.07% for the six months ended June 30, 2014, and 1.13% for the six month period ended June 30, 2015. The reduction in the cost of repurchase agreements was primarily from the maturity of a $10.0 million long term wholesale repurchase agreement that matured in September 2014 at a cost of 4.28%.

44

Provision for Loan Losses. The allowance for loan losses is established through a provision for loan losses based on management’s evaluation of the risk inherent in its loan portfolio and the general economy. Such evaluation considers numerous factors including general economic conditions, loan portfolio composition and prior loss experience, the estimated fair value of the underlying collateral and other factors that warrant recognition in providing for an adequate loan loss allowance. The Company determined that an additional $485,000 in provision for loan loss was required for the six month period ended June 30, 2015, compared to a provision for loan loss expense of $119,000 for the six month period ended June 30, 2014.

Non-Interest Income. There was a $238,000 increase in non-interest income in the six month period ended June 30, 2015, as compared to the same period in 2014. The increase in non-interest income was largely the result of an increase in gains realized on the sale of investments and mortgage origination income. For the six month period ended June 30, 2015, the Company earned $520,000 in mortgage origination income as compared to $191,000 during the six month period ended June 30, 2014. For the six month ended June 30, 2015, the Company’s gain on the sale of securities was $449,000 as compared to $254,000 for the six month period ended June 30, 2014. The Company’s income for services charges was $1.4 million for the six month period ended June 30, 2015, compared to $1.6 million for the same period in 2014. Likewise, the Company’s financial services commission declined from $374,000 for the six month period ended June 30, 2014, to $353,000 for the six month period ended June 30, 2015.

Non-Interest Expenses. There was a $933,000 increase in total non-interest expenses in the six-month period ended June 30, 2015, as compared to the same period in 2014. The most significant change in non-interest expenses was a $609,000 increase in losses on the sale of other real estate owned and a $701,000 increase in salaries and benefit expense for the six month period ended June 30, 2015, as compared to the six month period ended June 30, 2014. The increase in salaries and benefits expense was the result of higher cost of healthcare benefits and payroll expenses as well as the opening of a new loan production office in Nashville, Tennessee.

Income Taxes. The effective tax rate for the six-month periods ending June 30, 2015, was 15.3% due to the lower levels of tax free income. For the six month period ended June 30, 2014, the Company’s tax rate was 5.5% due to the low level of our net income and relatively high level of tax free income and tax credits.

45

Comparison of Operating Results for the Three Month Periods Ended June 30, 2015 and 2014.

Net Income. For the three month period ended June 30, 2015, the Company experienced a net loss of $117,000, as compared to net income of $925,000 for the three month period ended June 30, 2014. The decline in net income is largely the result of a $787,000 increase in non-interest expenses as compared to the three month period ended June 30, 2014.

Net Interest Income. Net interest income for the three month period ended June 30, 2015, was $6.3 million, compared to $6.4 million for the three month period ended June 30, 2014. The small decline in net interest income for the three months ended June 30, 2015, as compared to June 30, 2014, was due to a $272,000 decline in the Company’s interest income on loans and $426,000 decline in the Company’s income on taxable securities available for sale. The decline of interest income was largely offset by a $742,000 decline in the Company’s interest expense.

For the three months ended June 30, 2015, the average yield on loans was 4.51%, as compared to 4.83% for the three month period ended June 30, 2014. For the three month periods ended June 30, 2015, and June 30, 2014, income on taxable investments were $1.3 million and $1.7 million, respectively. For the three month period ending June 30, 2015, the tax equivalent yield on taxable and tax free securities were 2.42% and 4.69%, respectively, as compared to 2.54% and 4.84% for the three-month period ended June 30, 2014, respectively.

For the three month periods ended June 30, 2015, and June 30, 2014, the Company’s cost of interest bearing liabilities was 0.94% and 1.26%, respectively. For the three month period ended June 30, 2015, and June 30, 2014, the Company’s net interest margin was 3.17% and 3.02%, respectively.

Average Balances, Yields and Interest Expenses. The table on the next page summarizes the overall effect of changes in both interest rates and the average balances of interest earning assets and liabilities for the three-month periods ended June 30, 2015, and June 30, 2014. Yields on assets and cost of liabilities are derived by dividing income or expense by the average daily balances of interest earning assets and liabilities for the appropriate three-month periods.

46

Average balances for loans include loans classified as non-accrual, net of the allowance for loan losses. The table adjusts tax-free investment income by $205,000 for June 30, 2015, and $259,000 for June 30, 2014, for a tax equivalent rate using a cost of funds rate of 0.94% for June 30, 2015, and 1.26% for June 30, 2014. The table adjusts tax-free loan income by $5,000 for the three month period ended June 30, 2015, and $3,000 for the three month period ended and June 30, 2014, respectively, for a tax equivalent rate using the same cost of funds rate:

	Average Balance 6/30/2015		Income and Expense 6/30/2015			Average Rates 6/30/2015			Average Balance 6/30/2014		Income and Expense 6/30/2014			Average Rates 6/30/2014
	(Table Amounts in Thousands, Except Percentages)
Loans	$	552,992		6,236			4.51	%	$	538,895		6,506			4.83	%
Investments AFS taxable		209,907		1,268			2.42	%		266,815		1,694			2.54	%
Investment AFS tax free		52,960		621			4.69	%		65,323		790			4.84	%
Interest bearing deposits		6,107		4			0.26	%		9,899		6			0.24	%
Total interest earning assets		821,966		8,129			3.96	%		880,932		8,996			4.08	%
Other assets		68,467								76,307
Total assets	$	890,433							$	957,239
Retail time deposits		288,618		831			1.15	%		320,957		927			1.16	%
Brokered deposits		32,669		94			1.15	%		42,024		146			1.39	%
MMDA and Savings		100,776		51			0.20	%		93,932		54			0.23	%
Interest bearing checking		194,224		269			0.55	%		194,863		361			0.74	%
FHLB borrowings		18,231		66			1.45	%		41,764		428			4.10	%
Repurchase agreements		41,478		118			1.14	%		45,997		245			2.13	%
Subordinated debentures		10,310		183			7.10	%		10,310		193			7.49	%
Total interest bearing liabilities		686,306		1,612			0.94	%		749,847		2,354			1.26	%
Non-interest bearing deposits		110,379								103,717
Other liabilities		3,353								4,522
Stockholders’ equity		90,395								99,153
Total liabilities and stockholders’ equity	$	890,433							$	957,239
Net interest income				6,517								6,642
Interest rate spread							3.02	%							2.82	%
Net interest margin				3.17	%							3.02	%

47

Interest Income. For the three month periods ended June 30, 2015, and June 30, 2014, the Company’s total interest income was $7.9 million and $8.7 million, respectively. For the three month period ended June 30, 2015, interest income on loans was $6.2 million, a $272,000 decline as compared to the three month period ended June 30, 2014. The average balance of loans receivable increased from $538.9 million for the three month period ended June 30, 2014, to $553.0 million for the three month period ended June 30, 2015. The ratio of average interest-earning assets to average interest-bearing liabilities increased from 117.48% for the three months ended June 30, 2014, to 119.77% for the three months ended June 30, 2015.

Interest Expense. Interest expense declined $742,000 for the three months ended June 30, 2015, as compared to the three month period ended June 30, 2014. The decline was attributable to the prepayment of FHLB advances and an increase in lower costing interest bearing checking accounts. The average balance of funds borrowed from the FHLB declined by $23.6 million, from $41.8 million for the three months ended June 30, 2014, to $18.2 million for the three month period ended June 30, 2015. The average cost of borrowed funds from the FHLB was 4.10% for the three months ended June 30, 2014, and 1.45% for the three months ended June 30, 2015, respectively. The average balance of repurchase agreements decreased from $46.0 million for the three months ended June 30, 2014, to $41.5 million for the three month period ended June 30, 2015. The average cost of repurchase agreements was 2.13% for the three months ended June 30, 2014, and 1.14% for the three month period ended June 30, 2015.

Provision for Loan Losses. The allowance for loan losses is established through a provision for loan losses based on management’s evaluation of the risk inherent in its loan portfolio and the general economy. Such evaluation considers numerous factors including general economic conditions, loan portfolio composition and prior loss experience, the estimated fair value of the underlying collateral and other factors that warrant recognition in providing for an adequate loan loss allowance. The Company determined that it could record a $261,000 reduction in the allowance for loan loss account during three month period ended June 30, 2014, compared to a $270,000 provision for loan loss expense for the three month period ended June 30, 2015. The reduction in the allowance for loan loss account was the result of improved credit quality, enhanced economic trends, and lower levels of assets with specific reserves.

Non-Interest Income. The Company’s non-interest income declined by $77,000 in the three month period ended June 30, 2015, as compared to the three month period ended June 30, 2014. The decline in non-interest income was partly the result of a $158,000 decline in gains realized on the sale of investments. For the three month period ended June 30, 2015, the Company earned $343,000 in mortgage origination income as compared to $133,000 during the three month period ended June 30, 2014. The Company’s income for services charges was $720,000 for the three month period ended June 30, 2015, compared to $848,000 for the same period in 2014. The Company’s financial services commission increased to $194,000 for the three month period ended June 30, 2015, from $168,000 for the three month period ended June 30, 2014. The Company attributes the improved level of fee income from mortgage originations and financial services income is the result of improved customer demand for both residential mortgage loans and wealth management products offered by the Company.

48

Non-Interest Expenses. There was a $787,000 increase in total non-interest expenses in the three month period ended June 30, 2015, as compared to the three month period ended June 30, 2014. The most significant change in non-interest expenses was a $639,000 increase in losses on the sale of other real estate owned and a $312,000 increase in salary and benefit expense for the three month period ended June 30, 2015, as compared to the three month period ended June 30, 2014. For the three month period ended June 30, 2015, professional services expenses were $468,000 as compared to $341,000 for the three month period ended June 30, 2014.

The increase in losses on other real estate owned are the result of an absolute auction of two properties that were held for sale by the Company. The increases in professional services expense was the result of higher legal fees to assist in the resolution of sale of problem assets. The increase in salaries and benefits expense is largely the result of the Company opening a loan production office in Nashville and higher health insurance cost. The increase in professional services is largely the result of higher legal fees.

Income Taxes. For the three month period ended June 30, 2015, the Company’s effective tax rate was negative due to the net loss for the period. The effective tax rate for the three month period ended June 30, 2014, was 18.8%.

Liquidity and Capital Resources. The Company has no business other than that of the Bank. Management believes that dividends that may be paid by the Bank to the Company will provide sufficient funds for its current needs. However, no assurance can be given that the Company will not have a need for additional funds in the future. The Bank is subject to certain regulatory limitations with respect to the payment of dividends to the Company.

49

The Bank uses brokered deposits to supplement its asset liability need for longer term deposits at reasonable prices. In addition to the coupon rate listed below, brokered deposits carry an additional fee of approximately 0.25% that includes the cost of selling and servicing the deposits. The Company includes this cost as interest expense on its income statement and on its table on pages 43 and 47 that provides the yields and cost of assets and liabilities.

At June 30, 2015, the Bank’s brokered deposits consisted of the following:

Issue Date	Interest Rate			Balance		Maturity Date
7/27/2012		0.70	%	$	3,590,000		7/27/2015
7/22/2013		0.65	%		1,940,000		11/22/2015
12/21/2010		1.70	%		805,000		12/21/2015
9/21/2012		0.60	%		2,500,000		1/21/2016
7/9/2012		0.75	%		2,309,000		3/9/2016
3/17/2011		2.25	%		1,500,000		3/17/2016
7/22/2013		0.80	%		2,000,000		7/22/2016
8/6/2014		0.75	%		2,842,000		10/06/2016
10/13/2011		1.35	%		2,086,000		10/13/2016	(1)
3/9/2012		1.00	%		3,044,000		12/9/2016	(1)
7/9/2012		1.05	%		1,446,000		1/9/2017	(1)
1/9/2015		1.00	%		2,077,000		4/9/2017
7/27/2012		1.00	%		1,496,000		7/27/2017	(1)
1/3/2013		1.00	%		3,030,000		1/3/2018
1/9/2015		1.20	%		2,004,000		1/9/2018
Total				$	32,669,000

⁽¹⁾  Denotes brokered deposit with rising rate feature in which the Bank has a call option.

50

In July 2013, the Federal Reserve Board and the FDIC approved final rules that substantially amend the regulatory capital rules applicable to Heritage Bank USA, Inc. and HopFed Bancorp, Inc. The final rules implement the regulatory capital reforms of the Basel Committee on Banking Supervision reflected in “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems” (Basel III) and changes required by the Dodd-Frank Act.

Under these rules, the leverage and risk-based capital ratios of bank holding companies may not be lower than the leverage and risk-based capital ratios for insured depository institutions. The final rules implementing the Basel III regulatory capital reforms became effective for the Company and Bank on January 1, 2015, and include new minimum risk-based capital and leverage ratios. Moreover, these rules refine the definition of what constitutes “capital” for purposes of calculating those ratios, including the definitions of Tier 1 capital and Tier 2 capital. The new minimum capital level requirements applicable to bank holding companies and banks subject to the rules are: (i) a new common equity Tier 1 capital ratio of 4.5%; (ii) a Tier 1 risk-based capital ratio of 6% (increased from 4%); (iii) a total risk-based capital ratio of 8% (unchanged from current rules); (iv) a Tier 1 leverage ratio of 4% for all institutions. The rules also establish a “capital conservation buffer” of 2.5% (to be phased in over three years) above the new regulatory minimum risk-based capital ratios, and result in the following minimum ratios once the capital conservation buffer is fully phased in: (i) a common equity Tier 1 risk-based capital ratio of 7%, (ii) a Tier 1 risk-based capital ratio of 8.5%, and (iii) a total risk-based capital ratio of 10.5%. The capital conservation buffer requirement is being phased in beginning in January 2016 at 0.625% of risk-weighted assets and will increase each year until fully implemented in January 2019. An institution is subject to limitations on paying dividends, engaging in share repurchases and paying discretionary bonuses if capital levels fall below minimum plus the buffer amounts. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions.

Under these new rules, Tier 1 capital generally consist of common stock (plus related surplus) and retained earnings, limited amounts of minority interest in the form of additional Tier 1 capital instruments, and non-cumulative preferred stock and related surplus, subject to certain eligibility standards, less goodwill and other specified intangible assets and other regulatory deductions. Cumulative preferred stock and trust preferred securities issued after May 19, 2010, will no longer qualify as Tier 1 capital, but such securities issued prior to May 19, 2010, including in the case of bank holding companies with less than $15.0 billion in total assets, trust preferred securities issued prior to that date, will continue to count as Tier 1 capital subject to certain limitations. The definition of Tier 2 capital is generally unchanged for most banking organizations, subject to certain new eligibility criteria.

51

Common equity Tier 1 capital generally consist of common stock (plus related surplus) and retained earnings plus limited amounts of minority interest in the form of common stock, less goodwill and other specified intangible assets and other regulatory deductions. The final rules allow banks and their holding companies with less than $250 billion in assets a one-time opportunity to opt-out of a requirement to include unrealized gains and losses in accumulated other comprehensive income in their capital calculation. The Company has made the decision to opt-out of this requirement.

The Federal Reserve has adopted regulations applicable to bank holding companies with assets over $10 billion that require such holding companies and banks to conduct annual stress tests and report the results to the applicable regulators and publicly disclose a summary of certain capital information and results including pro forma changes in regulatory capital ratios. The Board of Directors and senior management are required to consider the results of the stress test in the normal course of business, including but not limited to capital planning and an assessment of capital adequacy in accordance with management’s policies. The FDIC has adopted all guidelines applicable to state nonmember banks in each case.

At June 30, 2015, the Bank exceeded all regulatory capital requirements. The table below presents certain information relating to the Company’s and Bank’s capital compliance at June 30, 2015:

	Company					Bank
	Amount		Percent			Amount		Percent
	(Dollars in Thousands)
Common equity tier 1 ratio	$	95,402		16.32	%	$	94,386		16.23	%
Tier 1 leverage ratio	$	95,402		10.65	%	$	94,386		10.56	%
Tier 1 risk-based capital ratio	$	95,402		16.32	%	$	94,386		16.23	%
Total risk based capital ratio	$	100,936		17.26	%	$	99,920		17.18	%

At June 30, 2015, the Bank had $12.0 million in outstanding commitments to originate loans and undisbursed commitments on loans outstanding of $103.4 million. Management believes that the Bank’s sources of funds are sufficient to fund all of its outstanding commitments. Certificates of deposits scheduled to mature in one year or less from June 30, 2015, totaled $203.4 million. Management believes that a significant percentage of such deposits will remain with the Bank. At June 30, 2015, the Company has deposit balances totaling $27.7 million that exceed FDIC insurance limits without additional collateral pledged.

The Bank’s FHLB borrowings are secured by a blanket security agreement pledging the Bank’s 1-4 family first mortgage loans and non-residential real estate loans. At June 30, 2015, the Bank has pledged all eligible 1-4 family first mortgages.

52

At June 30, 2015, the Bank has outstanding borrowings of $9.0 million from the FHLB. At June 30, 2015, the Company’s has a $4.0 million borrowing that matures of March 17, 2016, with an interest rate of 5.34%. The FHLB has issued letters of credit in the Bank’s name totalling $32.5 million secured by the Bank’s 1-4 Family loan portfolio to secure municipal deposits above FDIC deposit limits.

At June 30, 2015, the Bank had $60.7 million in additional borrowing capacity with the FHLB. The Company’s borrowing capacity with the FHLB includes an overnight line of credit of $30.0 million. At June 30, 2015, the Company’s had $5.0 million of borrowings outstanding against the overnight line of credit. The Bank has an $8.0 million unsecured overnight borrowing capacity from a correspondent bank.

The Bank’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and standby letters of credit and financial guarantees written is represented by the contractual notional amount of those instruments. The Bank uses the same credit policies in making these commitments and conditional obligations as it does for on-balance-sheet instruments.

At June 30, 2015, the Company had the following off-balance sheet commitments (in thousands):

Standby letters of credit	$	352
Unused home equity lines of credit	$	29,583
Unused commercial lines of credit	$	43,003
Unused unsecured personal lines of credit	$	30,838
Unfunded commitments on commercial loans	$	11,965

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements. Additional written or oral forward-looking statements may be made by the Company from time to time in filings with the Securities and Exchange Commission or otherwise. The words “believe,” “expect,” “seek,” and “intend” and similar expressions identify forward-looking statements, which speak only as of the date the statement is made. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may include, but are not limited to, projections of income or loss, expenditures, acquisitions, plans for future operations, financing needs or plans relating to services of the Company, as well as assumptions relating to the foregoing.

Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by or underlying the forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of revisions, which may be made to forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

53

Item 3. Quantitative and Qualitative Disclosures About Market Risk

The actual results of the Company’s asset liability management analysis are highly dependent on the prepayment speed of mortgage backed securities and collateralized mortgage obligations. The United States Treasury’s policy of purchasing longer dated Treasury bonds has the result of lowering mortgage loan rates, allowing more consumers to refinance their mortgages and pay-off their current mortgage, resulting in higher prepayment speeds on mortgage investment products.

The effects of rising interest rates are discussed throughout Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Actual results for the year ending December 31, 2015, will differ from simulations due to timing, magnitude, and the frequency or interest rate changes, market conditions, management strategies, and the timing of the Company’s cash receipts and disbursements.

The Company’s analysis at June 30, 2015, indicates that changes in interest rates are less likely to result in significant changes in the Company’s annual net interest income. A summary of the Company’s analysis at June 30, 2015, for the twelve month period ending June 30, 2016, is as follows:

	Down 1.00%		No change		Up 1.00%		Up 2.00%		Up 3.00%
			(Dollars In Thousands)
Net interest income	$	25,972	$	27,085	$	27,698	$	28,341	$	28,910

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures.

In accordance with Rule 13a-15(b) under the Securities Exchange Act of 1934 (the “Exchange Act”), an evaluation was carried out with the participation of the Company’s management, including the Company’s President and Chief Executive Officer and the Senior Vice President, Chief Financial Officer and Treasurer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the quarter ended June 30, 2015.

Based upon their evaluation of these disclosure controls and procedures, the President and Chief Executive Officer and the Senior Vice President, Chief Financial Officer and Treasurer concluded that the disclosure controls and procedures were effective as of the end of the six months ended June 30, 2015, to ensure that material information relating to the Company, including its consolidated subsidiaries, was made known to them by others within those entities, particularly during the period in which this quarterly report on Form 10-Q was being prepared.

54

Any control system, no matter how well conceived and operated, can provide only reasonable assurance that its objectives are achieved. The design of a control system inherently has limitations, including the controls cost relative to their benefits. Additionally, controls can be circumvented. No cost-effective control system can provide absolute assurance that all control issues and instances of fraud will be detected.

The Company is subject to Section 404 of The Sarbanes-Oxley Act of 2002. Section 404 requires management to assess and report on the effectiveness of the Company’s internal controls over financial reporting.

Changes in Internal Control over Financial Reporting

There were no changes in the Company’s internal control over financial reporting includes (as such term’s defined in rules 13a-15(f) and 15d-15(f)) under the Exchange Act during the Company’s fiscal quarter ended June 30, 2015, that have materially affected, or are reasonable likely to materially affect, the Company’s internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

Various legal proceedings to which the Company or its subsidiaries is a party arise from time to time in the normal course of business. Except as described below, there are no material pending legal proceedings to which the Company or its subsidiaries is a party or of which any of their property is the subject.

N/A

Item 1A. Risk Factors

There have been no material changes to our risk factors as previously disclosed in Part 1, Item 1A of our annual report on Form 10K for the fiscal year ended December 31, 2014.

55

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

N/A

(a) Use of Proceeds. Not applicable

(b) Repurchase of Equity Securities

Period	Total Number of Shares Purchased		Average Price Paid Per Share		Total number of shares Purchased as part of Publically Announced Programs		Maximum Number of Shares that Yet may be Purchased Under the Program at the end of the period
April 1, 2015, to April 30, 2015		468	$	12.68		1,504,192		573,724
May 1, 2015, to May 31, 2015		104	$	12.75		1,504,296		573,620
June 30, 2015, to June 30, 2015		68,895	$	12.83		1,573,191		504,725
Total		69,467	$	12.83		1,573,191		504,725

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

Not Applicable

Item 5. Other Information

None

56

Item 6. Exhibits

31.1	Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for John E. Peck, President and Chief Executive Officer.
31.2	Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for Billy C. Duvall, Senior Vice President, Chief Financial Officer and Treasurer.
32.1	Certification Pursuant to Section 18 U.S.C. Section 1350 includes (as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002) for John E. Peck, President and Chief Executive Officer.
32.2	Certification Pursuant to Section 18 U.S.C. Section 1350 includes (as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002) for Billy C. Duvall, Senior Vice President, Chief Financial Officer and Treasurer.
101	The following materials from the Company’s quarterly report on Form 10-Q for the three and six month period ended June 30, 2015, formatted in (eXtensible Business Reporting Language): (i) Condensed Consolidated Statements of Financial Condition as of June 30, 2015 (unaudited) and December 31, 2014, (ii) Condensed Consolidated Statements of Income (Loss) for the three and six month periods ended June 30, 2015, and June 30, 2014 (unaudited), (iii) Consolidated Condensed Statement of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2015, and June 30, 2014 (unaudited), (iv) Consolidated Condensed Statement of Stockholders’ Equity, for the six month periods ended June 30, 2015, and June 30, 2014 (unaudited); and (v) Condensed Consolidated Statements of Cash Flows, for the six month periods ended June 30, 2015, and June 30, 2014 (unaudited), and (iv) Notes to Condensed Consolidated Financial Statements (unaudited), tagged as blocks of text.

57

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	HOPFED BANCORP, INC.
Date: August 10, 2015	/s/ John E. Peck
	John E. Peck
	President and Chief Executive Officer
Date: August 10, 2015	/s/ Billy C. Duvall
	Billy C. Duvall
	Senior Vice President, Chief Financial
	Officer and Treasurer

58

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

18 U.S.C SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John E. Peck, certify that:

(1) I have reviewed this quarterly report on Form 10-Q of HopFed Bancorp, Inc.;

(2) Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

(3) Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4) The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation; and

(d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonable likely to materially affect, the registrants internal control over financial reporting; and

(5) The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) any fraud, whether or not material, that involves management or other employees who have a significant roles in the registrant’s internal control over financial reporting.

Date: August 10, 2015	/s/ John. E. Peck
	John E. Peck, President and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO

18 U.S.C SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Billy C. Duvall, certify that:

(1) I have reviewed this quarterly report on Form 10-Q of HopFed Bancorp, Inc.;

(2) Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

(3) Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4) The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation; and

(d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonable likely to materially affect, the registrants internal control over financial reporting; and

(5) The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) any fraud, whether or not material, that involves management or other employees who have a significant roles in the registrant’s internal control over financial reporting.

Date: August 10, 2015	/s/ Billy C. Duvall
	Billy C. Duvall, Senior Vice President Chief Financial Officer and Treasurer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of HopFed Bancorp, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John E. Peck, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and the result of operations of the Company.

Date: August 10, 2015

/s/ John E. Peck

John E. Peck, President and Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to HopFed Bancorp, Inc. and will be retained by HopFed Bancorp, Inc. and furnished to the Securities and Exchange Commission or its staff upon request. The information furnished herein shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of HopFed Bancorp, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Billy C. Duvall, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and the result of operations of the Company.

Date: August 10, 2015

/s/ Billy C. Duvall

Billy C. Duvall, Senior Vice President, Chief Financial Officer and Treasurer

A signed original of this written statement required by Section 906 has been provided to HopFed Bancorp, Inc. and will be retained by HopFed Bancorp, Inc. and furnished to the Securities and Exchange Commission or its staff upon request. The information furnished herein shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

XML

Securities - Maturities of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost of debt securities available for sale, due within one year	$ 4,830	$ 4,830
Amortized cost of debt securities available for sale, due in one to five years	16,675	21,564
Amortized cost of debt securities available for sale, due in five to ten years	40,668	41,683
Amortized cost of debt securities available for sale, due after ten years	26,089	33,119
Total amortized cost debt securities available for sale with specific maturities	88,262	101,196
Amortized Cost	243,151	297,848
Estimated fair value of debt securities available for sale, due within one year	4,927	4,927
Estimated fair value of debt securities available for sale, due in one to five years	16,972	21,818
Estimated fair value of debt securities available for sale, due in five to ten years	41,210	42,613
Estimated fair value of debt securities available for sale, due after ten years	27,452	35,380
Total estimated fair value of debt securities available for sale with specific maturities	90,561	104,738
Total unrestricted securities available for sale at estimated fair value	247,673	303,628
Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of debt securities available for sale without specific maturities	89,386	119,347
Total estimated fair value of debt securities available for sale without specific maturities	89,890	119,810
Amortizing Agency Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Total amortized cost of debt securities available for sale without specific maturities	65,503	77,305
Total estimated fair value of debt securities available for sale without specific maturities	$ 67,222	$ 79,080

XML

Investments in Affiliated Companies - Summary Statements of Financial Condition (Parenthetical) (Detail)	Jun. 30, 2015	Dec. 31, 2014
Majority-Owned Subsidiary, Unconsolidated [Member] | Common Stock [Member]
Percent of common stock of HopFed Bancorp, Inc.	100.00%	100.00%

XML

Loans - Summary of the Activity in Loans Classified as TDRs (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Modifications [Line Items]
Beginning Balance	$ 3,284	$ 3,284
New TDR		10,271
Loss or Foreclosure	0	0
Transferred to Held For Sale		(6,987)
Removed from (Taken to) Non-accrual	0	0
Ending Balance	3,284	3,284
One-to-Four Family Mortgages [Member]
Financing Receivable, Modifications [Line Items]
Loss or Foreclosure		0
Removed from (Taken to) Non-accrual		0
Non-Residential Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Beginning Balance	3,284	3,284
New TDR		10,271
Loss or Foreclosure	0	0
Transferred to Held For Sale		(6,987)
Removed from (Taken to) Non-accrual	0	0
Ending Balance	$ 3,284	3,284
Commercial Loans [Member]
Financing Receivable, Modifications [Line Items]
Loss or Foreclosure		0
Removed from (Taken to) Non-accrual		$ 0

XML

Investments in Affiliated Companies - Summary Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Equity Method Investments [Line Items]
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc.	$ 7,919	$ 8,734	$ 17,114	$ 17,392
Majority-Owned Subsidiary, Unconsolidated [Member]
Schedule of Equity Method Investments [Line Items]
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc.	89	87	174	173
Net income	$ 89	$ 87	$ 174	$ 173

XML

Loans - Loans by Classification Type and Related Allowance Amounts (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	$ 560,729	$ 545,839
Specific (Reserve) Allowance for Impairment	746	1,514
(Reserve) Allowance for Performing Loans	4,788	4,775
One-to-Four Family Mortgages [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	146,285	150,551
Specific (Reserve) Allowance for Impairment	46	51
(Reserve) Allowance for Performing Loans	952	1,147
Home Equity Line of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	33,803	34,238
(Reserve) Allowance for Performing Loans	196	181
Junior Liens [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	2,046	2,102
(Reserve) Allowance for Performing Loans	10	14
Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	22,580	25,991
(Reserve) Allowance for Performing Loans	73	85
Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	27,072	24,241
(Reserve) Allowance for Performing Loans	166	146
Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	24,521	26,654
Specific (Reserve) Allowance for Impairment	116	663
(Reserve) Allowance for Performing Loans	1,057	460
Non-Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	160,039	150,596
Specific (Reserve) Allowance for Impairment	445	738
(Reserve) Allowance for Performing Loans	1,195	1,345
Farmland [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	41,224	42,874
(Reserve) Allowance for Performing Loans	367	461
Consumer Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	16,011	14,438
Specific (Reserve) Allowance for Impairment	48	62
(Reserve) Allowance for Performing Loans	299	432
Commercial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	87,148	74,154
Specific (Reserve) Allowance for Impairment	91
(Reserve) Allowance for Performing Loans	473	504
Pass [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	528,753	498,609
Pass [Member] | One-to-Four Family Mortgages [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	143,385	146,129
Pass [Member] | Home Equity Line of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	33,182	33,481
Pass [Member] | Junior Liens [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	1,992	2,025
Pass [Member] | Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	17,958	20,066
Pass [Member] | Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	27,072	24,241
Pass [Member] | Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	14,425	15,328
Pass [Member] | Non-Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	149,727	131,854
Pass [Member] | Farmland [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	40,311	40,121
Pass [Member] | Consumer Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	15,803	14,118
Pass [Member] | Commercial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	84,898	71,246
Special Mention [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	3,283	9,863
Special Mention [Member] | One-to-Four Family Mortgages [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	42	203
Special Mention [Member] | Junior Liens [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	38	40
Special Mention [Member] | Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	1,655	2,904
Special Mention [Member] | Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	44	362
Special Mention [Member] | Non-Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	640	5,492
Special Mention [Member] | Farmland [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	681	516
Special Mention [Member] | Consumer Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	14	21
Special Mention [Member] | Commercial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	169	325
Impaired Loans Substandard [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	28,693	37,367
Impaired Loans Substandard [Member] | One-to-Four Family Mortgages [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	2,858	4,219
Impaired Loans Substandard [Member] | Home Equity Line of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	621	757
Impaired Loans Substandard [Member] | Junior Liens [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	16	37
Impaired Loans Substandard [Member] | Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	2,967	3,021
Impaired Loans Substandard [Member] | Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	10,052	10,964
Impaired Loans Substandard [Member] | Non-Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	9,672	13,250
Impaired Loans Substandard [Member] | Farmland [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	232	2,237
Impaired Loans Substandard [Member] | Consumer Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	194	299
Impaired Loans Substandard [Member] | Commercial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	$ 2,081	$ 2,583

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Income (Loss) Per Share - Additional Information (Detail) - shares	Jun. 30, 2015	Dec. 31, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Unearned ESOP shares	570,830	570,830
Two Thousand Fifteen Employee Stock Ownership Plan [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
ESOP shares committed to release	29,170
Unearned ESOP shares	570,830

XML

Fair Value of Assets and Liabilities - Additional information (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Trust preferred investment instrument classified as level 3 asset	$ 247,673	$ 303,628
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Trust preferred investment instrument classified as level 3 asset	1,803	$ 1,489
Significant Unobservable Inputs (Level 3) [Member] | Trust Preferred Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Trust preferred investment instrument classified as level 3 asset	$ 1,800

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Stock Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Company's Future Compensation Expense Related to Restricted Stock Vesting

The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at June 30, 2015:

Year Ending December 31,	Future Expense
2015	$	89,875
2016		135,283
2017		48,459
2018		5,630
2019		725
Total	$	279,972

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Real Estate and Other Assets Owned - Presentation of Balances in Other Real Estate and Other Assets Owned and Non-Accrual Loans Consisting Other Non-Performing Loan (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total other assets owned	$ 1,795	$ 1,927	$ 1,490	$ 1,674
Total non-accrual loans	7,056	3,175	8,735
Total non-performing assets	$ 8,851	$ 5,102	$ 10,225
Non-performing assets / Total assets	1.01%	0.55%	1.08%
One-to-Four Family Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total other assets owned	$ 115	$ 159	$ 356	350
Total non-accrual loans	1,456	1,501	524
Land [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total other assets owned	943	1,768	934	1,124
Total non-accrual loans	1,982	215	1,217
Non-Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total other assets owned	737		200	$ 200
Total non-accrual loans	$ 520	$ 1,159	$ 6,520

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Loans - Non-Accrual Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans	$ 7,056	$ 3,175	$ 8,735
One-to-Four Family Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans	1,456	1,501	524
Home Equity Line of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans	48		29
Multi-Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans	1,827	95
Land [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans	1,982	215	1,217
Non-Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans	520	1,159	6,520
Farmland [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans	209	115	13
Consumer Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans			1
Commercial Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total non-accrual loans	$ 1,014	$ 90	$ 431

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Securities - Additional Information (Detail) - Jun. 30, 2015 $ in Millions	USD ($) Securities
Investments, Debt and Equity Securities [Abstract]
Number of securities with unrealized losses | Securities	61
Securities pledged to municipalities for deposits in excess of FDIC limits, book value	$ 162.8
Securities pledged to municipalities for deposits in excess of FDIC limits, market value	168.2
Securities with market value sold under agreements to repurchase from various customers	42.2
Wholesale repurchase agreements with combined book value	6.9
Wholesale repurchase agreements with combined market value	7.1
Investment repurchase agreement, amount	$ 6.0
Repurchase agreement, maturity date	Sep. 18, 2016
Repurchase agreement, interest rate	4.36%

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Investments in Affiliated Companies - Additional Information (Detail)	Jun. 30, 2015
Majority-Owned Subsidiary, Unconsolidated [Member]
Schedule of Investments [Line Items]
Percent of common stock of HopFed Bancorp, Inc.	100.00%

XML

Esop Plan - Additional Information (Detail) - Jun. 30, 2015 - USD ($)	Total
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESOP shares	600,000
ESOP common stock, per share	$ 13.14
ESOP borrowed	$ 7,900,000
Accrued ESOP contribution liability	$ 437,000
Two Thousand Fifteen Employee Stock Ownership Plan [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESOP shares committed to release	29,170

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Fair Value of Assets and Liabilities - Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Other Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, Beginning balance	$ 1,489	$ 1,489
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at June 30,	306
Accretion of previous discounted amounts	8
Purchases, issuances and settlements, net	0	0
Transfers in and/or out of Level 3	0	0
Fair value, Ending balance	1,803	1,489
Other Liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, issuances and settlements, net	0	0
Transfers in and/or out of Level 3	$ 0	$ 0

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Loans - Impaired Loans by Classification Type (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 26,119	$ 31,984
Total impaired loans Recorded Investment	28,693	37,367	$ 37,700
Unpaid Principal Balance	26,777	31,984
Total impaired loans Unpaid Principal Balance	29,351	38,945
Related Allowance	0	0
Average Recorded Investment	25,906	28,972
Interest Income Recognized	104	1,693
Recorded Investment	2,574	5,383
Unpaid Principal Balance	2,574	6,961
Related Allowance	746	1,514	$ 1,500
Average Recorded Investment	4,387	9,543
Total impaired loans Average Recorded Investment	30,293	38,515
Interest Income Recognized	16	273
Total impaired loans Interest Income Recognized	120	1,966
One-to-Four Family Mortgages [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	2,148	3,501
Unpaid Principal Balance	2,175	3,501
Related Allowance	0	0
Average Recorded Investment	2,408	2,972
Interest Income Recognized	11	176
Recorded Investment	710	718
Unpaid Principal Balance	710	718
Related Allowance	46	51
Average Recorded Investment	712	1,434
Interest Income Recognized		44
Home Equity Line of Credit [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	621	757
Unpaid Principal Balance	621	757
Related Allowance	0	0
Average Recorded Investment	693	690
Interest Income Recognized		35
Junior Liens [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	16	37
Unpaid Principal Balance	16	37
Related Allowance	0	0
Average Recorded Investment	18	39
Interest Income Recognized		2
Multi-Family [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	2,967	3,021
Unpaid Principal Balance	2,967	3,021
Related Allowance	0	0
Average Recorded Investment	2,982	1,342
Interest Income Recognized	34	190
Construction [Member]
Financing Receivable, Impaired [Line Items]
Related Allowance	0	0
Average Recorded Investment		29
Land [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	9,456	7,740
Unpaid Principal Balance	10,087	7,740
Related Allowance	0	0
Average Recorded Investment	8,376	8,978
Interest Income Recognized	20	339
Recorded Investment	596	3,224
Unpaid Principal Balance	596	4,737
Related Allowance	116	663
Average Recorded Investment	2,009	3,418
Interest Income Recognized		160
Farmland [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	232	2,237
Unpaid Principal Balance	232	2,237
Related Allowance	0	0
Average Recorded Investment	237	3,968
Interest Income Recognized		125
Average Recorded Investment		619
Non-Residential Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	8,949	12,057
Unpaid Principal Balance	8,949	12,057
Related Allowance	0	0
Average Recorded Investment	9,580	8,672
Interest Income Recognized	18	669
Recorded Investment	723	1,193
Unpaid Principal Balance	723	1,258
Related Allowance	445	738
Average Recorded Investment	952	3,617
Interest Income Recognized		69
Consumer Loans [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	3	51
Unpaid Principal Balance	3	51
Related Allowance	0	0
Average Recorded Investment	5	36
Interest Income Recognized		3
Recorded Investment	191	248
Unpaid Principal Balance	191	248
Related Allowance	48	62
Average Recorded Investment	185	355
Commercial Loans [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,727	2,583
Unpaid Principal Balance	1,727	2,583
Related Allowance	0	0
Average Recorded Investment	1,607	2,246
Interest Income Recognized	21	154
Recorded Investment	354
Unpaid Principal Balance	354
Related Allowance	91
Average Recorded Investment	529	$ 100
Interest Income Recognized	$ 16

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Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net cash provided by operating activities	$ 2,306	$ 4,477
Cash flows from investing activities
Proceeds from sales, calls and maturities of securities available for sale	80,197	52,414
Purchase of securities available for sale	(25,989)	(59,556)
Net (increase) decrease in loans	(16,874)	5,560
Proceeds from sale of foreclosed assets	240	249
Purchase of premises and equipment	(1,842)	(508)
Net cash provided by (used in) investing activities	35,732	(1,841)
Cash flows from financing activities:
Net decrease in demand deposits	(2,655)	(1,702)
Net decrease in time and other deposits	(11,134)	(18,026)
Increase in advances from borrowers for taxes and insurance	279	202
Advances from Federal Home Loan Bank	15,000	15,000
Repayment of advances from Federal Home Loan Bank	(40,000)	(21,004)
Net decrease in repurchase agreements	(9,134)	(1,634)
Cash used to repurchase treasury stock	(10,614)	(838)
Dividends paid on common stock	(536)	(591)
Net cash used in financing activities	(58,794)	(28,593)
Decrease in cash and cash equivalents	(20,756)	(25,957)
Cash and cash equivalents, beginning of period	40,439	55,848
Cash and cash equivalents, end of period	19,683	29,891
Supplemental disclosures of cash flow information:
Interest paid	3,279	4,752
Income taxes paid	55
Supplemental disclosures of non-cash investing and financing activities:
Loans charged off	1,357	588
Foreclosures and in substance foreclosures of loans during period	842	190
Net unrealized gains (losses) on investment securities classified as available for sale	(1,258)	6,392
Increase (decrease) in deferred tax asset related to unrealized gains on investments	428	(2,173)
Dividends declared and payable	296	$ 308
Issue of treasury stock to ESOP	$ 7,884

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Fair Value of Assets and Liabilities - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financial Assets:
Securities available for sale	$ 247,673	$ 303,628
Financial liabilities:
Repurchase agreements	42,200
Amortized Cost [Member]
Financial Assets:
Cash and due from banks	16,538	34,389
Interest-earning deposits	3,145	6,050
Securities available for sale	247,673	303,628
Federal Home Loan Bank stock	4,428	4,428
Loans held for sale	2,470	1,444
Loans receivable	554,806	539,264
Accrued interest receivable	3,873	4,576
Financial liabilities:
Deposits	717,519	731,308
Advances from borrowers for taxes and insurance	792	513
Advances from Federal Home Loan Bank	9,000	34,000
Repurchase agreements	48,224	57,358
Subordinated debentures	10,310	10,310
Off-balance-sheet liabilities:
Market value of interest rate swap	198	390
Estimated Fair Value [Member]
Financial Assets:
Cash and due from banks	16,538	34,389
Interest-earning deposits	3,145	6,050
Securities available for sale	247,673	303,628
Federal Home Loan Bank stock	4,428	4,428
Loans held for sale	2,470	1,444
Loans receivable	554,193	537,493
Accrued interest receivable	3,873	4,576
Financial liabilities:
Deposits	700,283	714,750
Advances from borrowers for taxes and insurance	792	513
Advances from Federal Home Loan Bank	9,136	34,217
Repurchase agreements	48,485	57,688
Subordinated debentures	10,099	10,099
Off-balance-sheet liabilities:
Market value of interest rate swap	198	390
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial Assets:
Cash and due from banks	16,538	34,389
Interest-earning deposits	3,145	6,050
Securities available for sale	2,010
Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Securities available for sale	243,860	302,139
Federal Home Loan Bank stock	4,428	4,428
Loans held for sale	2,470	1,444
Accrued interest receivable	3,873	4,576
Financial liabilities:
Deposits	700,283	714,750
Advances from borrowers for taxes and insurance	792	513
Advances from Federal Home Loan Bank	9,136	34,217
Repurchase agreements	48,485	57,688
Off-balance-sheet liabilities:
Market value of interest rate swap	198	390
Significant Unobservable Inputs (Level 3) [Member]
Financial Assets:
Securities available for sale	1,803	1,489
Loans receivable	554,193	537,493
Financial liabilities:
Subordinated debentures	$ 10,099	$ 10,099

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Loans - Allowance for Loan Loss Account by Loan (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 6,289	$ 8,682	$ 8,682
Charge off	(1,357)	(588)	(1,232)
Recovery	117		1,112
General Provision	472		(1,846)
Specific Provision	13		(427)
Ending balance	5,534		6,289
One-to-Four Family Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	1,198	2,048	2,048
Charge off	(88)		(233)
Recovery	21		24
General Provision	61		(304)
Specific Provision	(194)		(337)
Ending balance	998		1,198
Home Equity Line of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	181	218	218
Charge off	(92)		(83)
Recovery	3		3
General Provision	89		(37)
Specific Provision	15		80
Ending balance	196		181
Junior Liens [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	14	39	39
Recovery	2		9
General Provision	(2)		(25)
Specific Provision	(4)		(9)
Ending balance	10		14
Multi-Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	85	466	466
General Provision			(381)
Specific Provision	(12)
Ending balance	73		85
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	146	88	88
Charge off			(139)
Recovery			9
General Provision			58
Specific Provision	20		130
Ending balance	166		146
Land [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	1,123	1,305	1,305
Charge off	(631)
General Provision	84		(74)
Specific Provision	597		(108)
Ending balance	1,173		1,123
Non-Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	2,083	2,719	2,719
Charge off	(222)		(66)
Recovery	2		864
General Provision	(73)		(1,368)
Specific Provision	(150)		(66)
Ending balance	1,640		2,083
Farmland [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	461	510	510
General Provision			542
Specific Provision	(94)		(591)
Ending balance	367		461
Consumer Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	494	541	541
Charge off	(177)		(415)
Recovery	73		109
General Provision	91		(13)
Specific Provision	(134)		272
Ending balance	347		494
Commercial Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	504	$ 748	748
Charge off	(147)		(296)
Recovery	16		94
General Provision	222		(244)
Specific Provision	(31)		202
Ending balance	$ 564		$ 504

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Investments in Affiliated Companies (Tables) - Equity Method Investments [Member]

6 Months Ended

Jun. 30, 2015

Summary Statements of Financial Condition

Summary Statements of Financial Condition

	At June 30, 2015		At December 31, 2014
Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc.	$	10,310		10,310
Liabilities		—		—
Stockholder’s equity – trust preferred securities		10,000		10,000
Common stock (100% Owned by HopFed Bancorp, Inc.)		310		310
Total stockholders’ equity	$	10,310		10,310

Summary Statement of Income

Summary Statement of Income

	Three Month Periods Ended June 30,				Six Month Period Ended June 30,
	2015		2014		2015		2014
Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc.	$	89		87	$	174		173
Net income	$	89		87	$	174		173

Summary Statement of Stockholder's Equity

Summary Statement of Stockholders’ Equity

(For the six month period ended June 30, 2015)

	Trust Preferred Securities		Common Stock		Retained Earnings			Total Stockholders’ Equity
Beginning balances, December 31, 2014	$	10,000		310		—			10,310
Net income		—		—		174			174
Dividends:
Trust preferred securities		—		—		(169	)		(169	)
Common paid to HopFed Bancorp, Inc.		—		—		(5	)		(5	)
Ending balances, June 30, 2015	$	10,000		310		—			10,310

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Real Estate and Other Assets Owned (Tables)

6 Months Ended

Jun. 30, 2015

Text Block [Abstract]

Presentation of Balances in Other Real Estate and Other Assets Owned and Non-Accrual Loans Consisting Other Non-Performing Loan

At June 30, 2015, December 31, 2014, and June 30, 2014, the composition of the Company’s balances in both real estate and assets owned and non-accrual loans are as follows:

	June 30, 2015			December 31, 2014			June 30, 2014
	(Dollars in Thousands)
One-to-four family mortgages	$	115			159			356
Land		943			1,768			934
Non-residential real estate		737			—			200
Total other assets owned	$	1,795			1,927			1,490
Total non-accrual loans	$	7,056			3,175			8,735
Total non-performing assets	$	8,851			5,102			10,225
Non-performing assets / Total assets		1.01	%		0.55	%		1.08	%

Summary of Activity in Company's Real Estate and Other Assets Owned

The following is a summary of the activity in the Company’s real estate and other assets owned for the six month period ending June 30, 2015:

	Balance		Activity During 2015					Reduction		Gain (Loss)			Balance
	12/31/2014		Foreclosures		Proceeds			in Values		on Sale			6/30/2015
	(Dollars in Thousands)
One-to-four family mortgages	$	159		105		(116	)		—		(33	)		115
Land		1,768		—		(124	)		—		(701	)		943
Non-residential real estate		—		737		—			—		—			737
Total	$	1,927		842		(240	)		—		(734	)		1,795

The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2014:

	Activity During 2014
	Balance 12/31/2013		Foreclosures		Sales			Reduction in Values			Gain (Loss) on Sale			Balance 12/31/2014
	(Dollars in Thousands)
One-to-four family mortgages	$	350		461		(667	)		(5	)		20			159
Land		1,124		943		(123	)		(157	)		(19	)		1,768
Non-residential real estate		200		175		(328	)		—			(47	)		—
Total	$	1,674		1,579		(1,118	)		(162	)		(46	)		1,927

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Investments in Affiliated Companies - Summary Statement of Stockholders' Equity (Detail) - Majority-Owned Subsidiary, Unconsolidated [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Equity Method Investments [Line Items]
Beginning balances			$ 10,310
Net income	$ 89	$ 87	174	$ 173
Dividends:
Trust preferred securities			(169)
Common paid to HopFed Bancorp, Inc.			(5)
Ending balances	10,310		10,310
Trust Preferred Securities [Member]
Schedule of Equity Method Investments [Line Items]
Beginning balances			10,000
Dividends:
Ending balances	10,000		10,000
Common Stock [Member]
Schedule of Equity Method Investments [Line Items]
Beginning balances			310
Dividends:
Ending balances	$ 310		310
Retained Earnings [Member]
Schedule of Equity Method Investments [Line Items]
Net income			174
Dividends:
Trust preferred securities			(169)
Common paid to HopFed Bancorp, Inc.			$ (5)

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Loans - Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	$ 527,577	$ 496,922
30-89 Days Past Due	1,176	1,687
Non-accrual Loans	7,056	3,175	$ 8,735
Special Mention	3,283	9,863
Impaired Loans Currently Performing Substandard	21,637	34,192
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	560,729	545,839
One-to-Four Family Mortgages [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	142,987	145,372
30-89 Days Past Due	398	757
Non-accrual Loans	1,456	1,501	524
Special Mention	42	203
Impaired Loans Currently Performing Substandard	1,402	2,718
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	146,285	150,551
Home Equity Line of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	33,113	33,338
30-89 Days Past Due	69	143
Non-accrual Loans	48		29
Impaired Loans Currently Performing Substandard	573	757
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	33,803	34,238
Junior Liens [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	1,992	2,025
Special Mention	38	40
Impaired Loans Currently Performing Substandard	16	37
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	2,046	2,102
Multi-Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	17,818	20,066
30-89 Days Past Due	140
Non-accrual Loans	1,827	95
Special Mention	1,655	2,904
Impaired Loans Currently Performing Substandard	1,140	2,926
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	22,580	25,991
Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	26,972	24,241
30-89 Days Past Due	100
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	27,072	24,241
Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	14,425	14,674
30-89 Days Past Due		654
Non-accrual Loans	1,982	215	1,217
Special Mention	44	362
Impaired Loans Currently Performing Substandard	8,070	10,749
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	24,521	26,654
Non-Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	149,565	131,854
30-89 Days Past Due	162
Non-accrual Loans	520	1,159	6,520
Special Mention	640	5,492
Impaired Loans Currently Performing Substandard	9,152	12,091
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	160,039	150,596
Farmland [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	40,143	40,057
30-89 Days Past Due	168	64
Non-accrual Loans	209	115	13
Special Mention	681	516
Impaired Loans Currently Performing Substandard	23	2,122
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	41,224	42,874
Consumer Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	15,790	14,104
30-89 Days Past Due	13	14
Non-accrual Loans			1
Special Mention	14	21
Impaired Loans Currently Performing Substandard	194	299
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	16,011	14,438
Commercial Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Currently Performing	84,772	71,191
30-89 Days Past Due	126	55
Non-accrual Loans	1,014	90	$ 431
Special Mention	169	325
Impaired Loans Currently Performing Substandard	1,067	2,493
Impaired Loans Currently Performing Doubtful	0	0
Total loans, gross	$ 87,148	$ 74,154

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Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The assets and liabilities measured at fair value on a recurring basis at June 30, 2015, are summarized below:

June 30, 2015 Description	Total carrying value in the consolidated balance sheet at June 30, 2015		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Available for sale securities	$	247,673		2,010		243,860		1,803
Liabilities
Interest rate swap	$	198		—		198		—

The assets and liabilities measured at fair value on a recurring basis at December 31, 2014, are summarized below

December 31, 2014 Description	Total carrying value in the consolidated balance sheet at December 31, 2014		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Available for sale securities	$	303,628		—		302,139		1,489
Liabilities
Interest rate swap	$	390		—		390		—

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The assets and liabilities measured at fair value on a non-recurring basis are summarized below for June 30, 2015:

June 30, 2015 Description	Total carrying value in the consolidated balance sheet at 6/ 30/ 2015		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in Thousands)
Assets
Other real estate and other assets owned	$	1,795		—		—	$	1,795
Impaired loans, net of reserve of $746	$	1,828		—		—	$	1,828

The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2014:

December 31, 2014 Description	Total carrying value in the consolidated balance sheet at 12/31/2014		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Other real estate and other assets owned	$	1,927		—		—	$	1,927
Impaired loans, net of reserve of $1,514	$	3,869		—		—	$	3,869

Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items

The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the six month periods ended June 30, 2015, and June 30, 2014, (including the change in fair value) for assets and liabilities classified by HopFed Bancorp, Inc. within level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis. When a determination is made to classify an asset or liability within level 3 of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement. However, since level 3 assets and liabilities typically include, in addition to the unobservable or level 3 components, observable components (that is components that are actively quoted and can be validated to external sources), the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology.

	2015				2014
Three month period ended June 30,	Other Assets		Other Liabilities		Other Assets		Other Liabilities
	(Dollars in Thousands)
Fair value, January 1,	$	1,489		—		1,489		—
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at June 30,		306		—		—		—
Accretion of previous discounted amounts		8
Purchases, issuances and settlements, net		—		—		—		—
Transfers in and/or out of Level 3		—		—		—		—
Fair value, June 30,	$	1,803		—		1,489		—

Estimated Fair Values of Financial Instruments

The estimated fair values of financial instruments were as follows at June 30, 2015:

	Carrying Amount		Estimated Fair Value		Quoted Prices In Active Markets for Identical Assets Level 1		Using Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3
Financial Assets:
Cash and due from banks	$	16,538		16,538		16,538		—		—
Interest-earning deposits		3,145		3,145		3,145		—		—
Securities available for sale		247,673		247,673		2,010		243,860		1,803
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans held for sale		2,470		2,470		—		2,470		—
Loans receivable		554,806		554,193		—		—		554,193
Accrued interest receivable		3,873		3,873		—		3,873		—
Financial liabilities:
Deposits		717,519		700,283		—		700,283		—
Advances from borrowers for taxes and insurance		792		792		—		792		—
Advances from Federal Home Loan Bank		9,000		9,136		—		9,136		—
Repurchase agreements		48,224		48,485		—		48,485		—
Subordinated debentures		10,310		10,099		—		—		10,099
Off-balance-sheet liabilities:
Market value of interest rate swap		198		198		—		198		—

The estimated fair values of financial instruments were as follows at December 31, 2014:

	Carrying Amount		Estimated Fair Value		Quoted Prices In Active Markets for Identical Assets Level 1		Using Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3
Financial Assets:
Cash and due from banks	$	34,389		34,389		34,389		—		—
Interest-earning deposits		6,050		6,050		6,050		—		—
Securities available for sale		303,628		303,628		—		302,139		1,489
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans held for sale		1,444		1,444		—		1,444		—
Loans receivable		539,264		537,493		—		—		537,493
Accrued interest receivable		4,576		4,576		—		4,576		—
Financial liabilities:
Deposits		731,308		714,750		—		714,750		—
Advances from borrowers for taxes and insurance		513		513		—		513		—
Advances from Federal Home Loan Bank		34,000		34,217		—		34,217		—
Repurchase agreements		57,358		57,688		—		57,688		—
Subordinated debentures		10,310		10,099		—		—		10,099
Off-balance-sheet liabilities:
Market value of interest rate swap		390		390		—		390		—

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Other Assets (Tables)

6 Months Ended

Jun. 30, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Investments Recognized in Net Income

The amounts recognized in net income for these investments for the three and six month periods below include:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2015		2014		2015		2014
Investment loss included in pre-tax income	$	55		51	$	110		102
Tax credits recognized in provision for income taxes	$	24		20	$	48		40

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Consolidated Condensed Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Net change in unrealized gain on securities available for sale, income taxes	$ 428	$ 2,173
Net change in unrealized loss on derivatives, income tax benefit	(65)	56
Accumulated Other Comprehensive Income [Member]
Net change in unrealized gain on securities available for sale, income taxes	428	2,173
Net change in unrealized loss on derivatives, income tax benefit	$ (65)	$ 56

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Esop Plan (Tables)

6 Months Ended

Jun. 30, 2015

Text Block [Abstract]

Summary of Shares Held by Employee Stock Ownership Plan (ESOP)

At June 30, 2015, shares held by the ESOP were as follows:

Accrued to allocate to Participants		29,170
Unearned ESOP shares		570,830
Total ESOP shares		600,000
Fair value of unearned shares	$	6,450,375

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Loans - Components of Loans Receivable in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Real estate loans
Total loans, gross	$ 560,729	$ 545,839
Deferred loan cost, net of income	(389)	(286)
Less allowance for loan losses	(5,534)	(6,289)	$ (8,400)
Total loans	$ 554,806	$ 539,264
Loans and Leases Receivable in Percentage	100.00%	100.00%
Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 457,570	$ 457,247
Loans and Leases Receivable in Percentage	81.60%	83.80%
Consumer Loans [Member]
Real estate loans
Total loans, gross	$ 16,011	$ 14,438
Loans and Leases Receivable in Percentage	2.90%	2.60%
Commercial Loans [Member]
Real estate loans
Total loans, gross	$ 87,148	$ 74,154
Loans and Leases Receivable in Percentage	15.50%	13.60%
Total Other Loans [Member]
Real estate loans
Total loans, gross	$ 103,159	$ 88,592
Loans and Leases Receivable in Percentage	18.40%	16.20%
One-to-Four Family Mortgages [Member]
Real estate loans
Total loans, gross	$ 146,285	$ 150,551
One-to-Four Family Mortgages [Member] | Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 146,285	$ 150,551
Loans and Leases Receivable in Percentage	26.10%	27.60%
Second Mortgages (Closed End) [Member] | Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 2,046	$ 2,102
Loans and Leases Receivable in Percentage	0.40%	0.40%
Home Equity Line of Credit [Member]
Real estate loans
Total loans, gross	$ 33,803	$ 34,238
Home Equity Line of Credit [Member] | Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 33,803	$ 34,238
Loans and Leases Receivable in Percentage	6.00%	6.30%
Multi-Family [Member]
Real estate loans
Total loans, gross	$ 22,580	$ 25,991
Multi-Family [Member] | Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 22,580	$ 25,991
Loans and Leases Receivable in Percentage	4.00%	4.80%
Construction [Member]
Real estate loans
Total loans, gross	$ 27,072	$ 24,241
Construction [Member] | Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 27,072	$ 24,241
Loans and Leases Receivable in Percentage	4.80%	4.40%
Land [Member]
Real estate loans
Total loans, gross	$ 24,521	$ 26,654
Land [Member] | Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 24,521	$ 26,654
Loans and Leases Receivable in Percentage	4.40%	4.90%
Non-Residential Real Estate [Member]
Real estate loans
Total loans, gross	$ 160,039	$ 150,596
Non-Residential Real Estate [Member] | Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 160,039	$ 150,596
Loans and Leases Receivable in Percentage	28.50%	27.60%
Farmland [Member]
Real estate loans
Total loans, gross	$ 41,224	$ 42,874
Farmland [Member] | Real Estate Loans [Member]
Real estate loans
Total loans, gross	$ 41,224	$ 42,874
Loans and Leases Receivable in Percentage	7.40%	7.80%

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Investments in Affiliated Companies - Summary Statements of Financial Condition (Detail) - Majority-Owned Subsidiary, Unconsolidated [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc.	$ 10,310	$ 10,310
Liabilities	0	0
Total stockholders' equity	10,310	10,310
Trust Preferred Securities [Member]
Total stockholders' equity	10,000	10,000
Common Stock [Member]
Total stockholders' equity	$ 310	$ 310

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Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 16,538	$ 34,389
Interest-earning deposits	3,145	6,050
Cash and cash equivalents	19,683	40,439
Federal Home Loan Bank stock, at cost	4,428	4,428
Securities available for sale	247,673	303,628
Loans held for sale	2,470	1,444
Loans receivable, net of allowance for loan losses of $5,534 at June 30, 2015, and $6,289 at December 31, 2014	554,806	539,264
Accrued interest receivable	3,873	4,576
Real estate and other assets owned	1,795	1,927
Bank owned life insurance	10,128	9,984
Premises and equipment, net	24,171	22,940
Deferred tax assets	1,668	2,261
Intangible asset		33
Other assets	6,918	4,861
Total assets	877,613	935,785
Deposits:
Non-interest-bearing accounts	112,396	115,051
Interest-bearing accounts
Interest bearing checking accounts	185,642	186,616
Savings and money market accounts	99,020	97,726
Other time deposits	320,461	331,915
Total deposits	717,519	731,308
Advances from Federal Home Loan Bank	9,000	34,000
Repurchase agreements	48,224	57,358
Subordinated debentures	10,310	10,310
Advances from borrowers for taxes and insurance	792	513
Dividends payable	296	301
Accrued expenses and other liabilities	3,216	3,593
Total liabilities	789,357	837,383
Stockholders' equity
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; no shares issued and outstanding at June 30, 2015, and December 31, 2014.	0	0
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,950,436 issued and 6,977,245 outstanding at June 30, 2015, and 7,949,665 issued and 7,171,282 outstanding at December 31, 2014	79	79
Additional paid-in-capital	58,552	58,466
Retained earnings	46,455	45,729
Treasury stock	(12,159)	(9,429)
Unallocated ESOP shares (at cost, 570,830 shares at June 30, 2015, and no shares at December 31, 2014)	(7,525)
Accumulated other comprehensive income, net of taxes	2,854	3,557
Total stockholders' equity	88,256	98,402
Total liabilities and stockholders' equity	$ 877,613	$ 935,785

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Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	$ 746	$ 1,514
Collectively evaluated for impairment	4,788	4,775
Total ending allowance balance	5,534	6,289	$ 8,400
Loans individually evaluated for impairment	28,693	37,367
Loans collectively evaluated for impairment	532,036	508,472
Total ending loans balance	560,729	545,839
Commercial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	91
Collectively evaluated for impairment	473	504
Total ending allowance balance	564	504
Loans individually evaluated for impairment	2,081	2,583
Loans collectively evaluated for impairment	85,067	71,571
Total ending loans balance	87,148	74,154
Land Development/Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	116	663
Collectively evaluated for impairment	1,223	606
Total ending allowance balance	1,339	1,269
Loans individually evaluated for impairment	10,052	10,964
Loans collectively evaluated for impairment	41,541	39,931
Total ending loans balance	51,593	50,895
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	445	738
Collectively evaluated for impairment	1,635	1,891
Total ending allowance balance	2,080	2,629
Loans individually evaluated for impairment	12,871	18,508
Loans collectively evaluated for impairment	210,972	200,953
Total ending loans balance	223,843	219,461
Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	46	51
Collectively evaluated for impairment	1,158	1,342
Total ending allowance balance	1,204	1,393
Loans individually evaluated for impairment	3,495	5,013
Loans collectively evaluated for impairment	178,639	181,878
Total ending loans balance	182,134	186,891
Consumer Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	48	62
Collectively evaluated for impairment	299	432
Total ending allowance balance	347	494
Loans individually evaluated for impairment	194	299
Loans collectively evaluated for impairment	15,817	14,139
Total ending loans balance	$ 16,011	$ 14,438

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Consolidated Condensed Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on investment securities available for sale, tax effect	$ 907	$ (1,340)	$ 379	$ (2,260)
Unrealized gain on derivatives, tax effect	(32)	(31)	(65)	(56)
Reclassification adjustment for other than temporary impairment included in net income, tax effect	$ 28	$ 82	$ 153	$ 86

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Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Other real estate and other assets owned	$ 1,795	$ 1,927
Fair Value, Measurements, Nonrecurring [Member]
Assets
Other real estate and other assets owned	1,795	1,927
Impaired loans, net of reserve	1,828	3,869
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member]
Assets
Other real estate and other assets owned	1,795	1,927
Impaired loans, net of reserve	$ 1,828	$ 3,869

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Stock Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
2004 Long Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to the HopFed Bancorp, Inc	$ 49,000	$ 35,000	$ 98,000	$ 65,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock issued	771	20,238	771	20,238

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Other Assets - Additional Information (Detail) - Jun. 30, 2015	USD ($) Investment
Net Investment Income [Line Items]
Number of investments | Investment	2
Investment One [Member]
Net Investment Income [Line Items]
Future capital commitments	$ 0
Investment Two [Member]
Net Investment Income [Line Items]
Future capital commitments	0
Other Assets [Member] | Investment One [Member]
Net Investment Income [Line Items]
Investment in each entity	422,000
Other Assets [Member] | Investment Two [Member]
Net Investment Income [Line Items]
Investment in each entity	$ 1,000,000

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Esop Plan

6 Months Ended

Jun. 30, 2015

Text Block [Abstract]

Esop Plan

(13) ESOP PLAN

All Company employees participate in the 2015 HopFed Bancorp, Inc. Employee Stock Ownership Plan (ESOP). The ESOP purchased 600,000 shares of the Company’s common stock from the Company on March 2, 2015, at $13.14 per share. The ESOP borrowed $7.9 million from the Company for the purchase of the stock, using the 600,000 shares of common stock as collateral. The Company makes discretionary contributions to the ESOP. The ESOP utilizes these contributions along with the dividends on the 600,000 held by the ESOP to repay the loan from the Company. When loan payments are made, ESOP shares are released based on reduction in the principal balance of the loan.

The shares are allocated to participants based on relative compensation. Employees who are not employed at the December 31^st of each year are not eligible for participation in the ESOP. The Company anticipates that loan payments will be made at the end of each year. Participants receive shares at the end of employment. The Company has the option to repurchase the shares or to provide the shares directly to the employee.

At June 30, 2015, the ESOP has not made a loan payment to the Company. At June 30, 2015, the Company has an accrued ESOP contribution liability of approximately $437,000. At June 30, 2015, the Company has calculated that our current accrual would be sufficient to release 29,170 shares of ESOP shares to participants. At June 30, 2015, shares held by the ESOP were as follows:

Accrued to allocate to Participants		29,170
Unearned ESOP shares		570,830
Total ESOP shares		600,000
Fair value of unearned shares	$	6,450,375

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Stock Compensation - Company's Future Compensation Expense Related to Restricted Stock Vesting (Detail)	Jun. 30, 2015 USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
2015	$ 89,875
2016	135,283
2017	48,459
2018	5,630
2019	725
Total	$ 279,972

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Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Income (Loss) Per Share

The following schedule reconciles the numerators and denominators of the basic and diluted income (loss) per share (“IPS”) computations for the three and six month periods ended June 30, 2015, and June 30, 2014. For the three and six month periods ended June 30, 2015, the Company’s financial statements reflect a liability adequate to release of 29,170 shares from the HopFed Bancorp, Inc. 2015 Employee Stock Ownership Plan (the “ESOP”). Therefore, the Company has included 29,170 shares held by the ESOP in the IPS calculation. The Company has excluded 570,830 unearned shares purchased and owned by the ESOP from our IPS computations. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrants outstanding.

	Three Month Period Ended June 30,
	2015			2014
Basic IPS:
Net income (loss)	($	117,000	)	$	925,000
Average common shares outstanding		6,425,687			7,376,726
Net income (loss) per share	($	0.02	)	$	0.13
Diluted IPS
Net income (loss)	($	117,000	)	$	925,000
Average common shares outstanding		6,425,687			7,376,726
Dilutive effect of stock options		—			—
Average diluted shares outstanding		6,425,687			7,376,726
Net income (loss) per share, diluted	($	0.02	)	$	0.13
	Six Month Period Ended June 30,
	2015			2014
Basic IPS:
Net income	$	1,238,000		$	1,279,000
Average common shares outstanding		6,588,845			7,396,627
Net income per share	$	0.19		$	0.17
Diluted IPS
Net income	$	1,238,000		$	1,279,000
Average common shares outstanding		6,588,845			7,396,627
Dilutive effect of stock options		—			—
Average diluted shares outstanding		6,588,845			7,396,627
Net income per share, diluted	$	0.19		$	0.17

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Esop Plan - Summary of Shares Held by Employee Stock Ownership Plan (ESOP) (Detail) - Jun. 30, 2015 - USD ($)	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Accrued to allocate to Participants	29,170
Unearned ESOP shares	570,830
Total ESOP shares	600,000
Fair value of unearned shares	$ 6,450,375

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Consolidated Condensed Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Capital Surplus [Member]	Retained Earnings [Member]	Treasury Stock Common [Member]	Accumulated Other Comprehensive Income [Member]	Additional Common Stock [Member]	Capital Surplus [Member]	Unearned Esop Shares [Member]
Beginning balance at Dec. 31, 2013	$ 95,717	$ 79		$ 58,302	$ 44,694	$ (5,929)	$ (1,429)
Beginning balance, shares at Dec. 31, 2013		7,447,903
Consolidated net income	1,279				1,279
Restricted stock awards/issued	0	$ 0	$ 0	0	0	0	0
Restricted stock awards/issued, shares		20,238
Repurchase of treasury stock	(838)					(838)
Repurchase of treasury stock, shares		(72,856)
Compensation expense, restricted stock awards	65			65
Net change in unrealized gain on securities available for sale, net of income taxes	4,219						4,219
Net change in unrealized loss on derivatives, net of income tax benefit	109						109
Cash dividend to common stockholders	(591)				(591)
Ending balance at Jun. 30, 2014	99,960	$ 79		$ 58,367	45,382	$ (6,767)	2,899
Ending balance, shares at Jun. 30, 2014		7,395,285
Beginning balance at Dec. 31, 2014	98,402	$ (9,429)			45,729		3,557	$ 79	$ 58,466
Beginning balance, shares at Dec. 31, 2014		7,171,282
Consolidated net income	1,238				1,238
Treasury stock reissued		$ 7,884								$ (7,884)
Treasury stock reissued, shares		600,000
Restricted stock awards/issued	0	$ 0			0		0	0	0	0
Restricted stock awards/issued, shares		771
Repurchase of treasury stock	(10,614)	$ (10,614)
Repurchase of treasury stock, shares		(794,808)
ESOP shares committed to release	359									359
Change in price of ESOP shares	(12)								(12)
Compensation expense, restricted stock awards	98								98
Net change in unrealized gain on securities available for sale, net of income taxes	(830)						(830)
Net change in unrealized loss on derivatives, net of income tax benefit	127						127
Cash dividend to common stockholders	(512)				(512)
Ending balance at Jun. 30, 2015	$ 88,256	$ (12,159)			$ 46,455		$ 2,854	$ 79	$ 58,552	$ (7,525)
Ending balance, shares at Jun. 30, 2015		6,977,245

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Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Loans receivable, allowance for loan losses	$ 5,534	$ 6,289
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	7,950,436	7,949,665
Common stock, shares outstanding	6,977,245	7,171,282
Treasury stock, shares	973,191	778,383
Unallocated ESOP shares	570,830	570,830

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Fair Value of Assets and Liabilities

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

(8) FAIR VALUE OF ASSETS AND LIABILITIES

In September 2006, the FASB issued ASC 820-10, Fair Value Measurements. This Statement defines fair value, establishes a framework for measuring fair value and expands disclosure about fair value. The statement establishes a fair value hierarchy which requires an entity to maximize the use of observable input and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value.

• Level 1 is for assets and liabilities that management has obtained quoted prices (unadjusted for transaction cost) or identical assets or liabilities in active markets that the Company has the ability to access as of the measurement date.

• Level 2 is for assets and liabilities in which significant unobservable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

• Level 3 is for assets and liabilities in which significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company’s $1.8 million trust preferred is the only investment instrument classified as a Level 3 asset. The Company determines the value of the instrument by using the present value of scheduled future cash flows and discount accretion to determine an estimated market value for the security.

The fair values of securities available for sale are determined by a matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without exclusively using quoted prices for the individual securities in the Company’s portfolio but rather by relying on the securities relationship to other benchmark quoted securities. Impaired loans are valued at the net present value of expected payments using the fair value of any assigned collateral. The liability associated with the Company’s derivative is obtained from a quoted value supplied by our correspondent banker. The value of real estate owned is obtained from appraisals completed on properties at the time of acquisition and annually thereafter.

Assets and Liabilities Measured on a Recurring Basis

The assets and liabilities measured at fair value on a recurring basis at June 30, 2015, are summarized below:

June 30, 2015 Description	Total carrying value in the consolidated balance sheet at June 30, 2015		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Available for sale securities	$	247,673		2,010		243,860		1,803
Liabilities
Interest rate swap	$	198		—		198		—

The assets and liabilities measured at fair value on a recurring basis at December 31, 2014, are summarized below

December 31, 2014 Description	Total carrying value in the consolidated balance sheet at December 31, 2014		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Available for sale securities	$	303,628		—		302,139		1,489
Liabilities
Interest rate swap	$	390		—		390		—

The assets and liabilities measured at fair value on a non-recurring basis are summarized below for June 30, 2015:

June 30, 2015 Description	Total carrying value in the consolidated balance sheet at 6/ 30/ 2015		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in Thousands)
Assets
Other real estate and other assets owned	$	1,795		—		—	$	1,795
Impaired loans, net of reserve of $746	$	1,828		—		—	$	1,828

The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2014:

December 31, 2014 Description	Total carrying value in the consolidated balance sheet at 12/31/2014		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Other real estate and other assets owned	$	1,927		—		—	$	1,927
Impaired loans, net of reserve of $1,514	$	3,869		—		—	$	3,869

The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the six month periods ended June 30, 2015, and June 30, 2014, (including the change in fair value) for assets and liabilities classified by HopFed Bancorp, Inc. within level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis. When a determination is made to classify an asset or liability within level 3 of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement. However, since level 3 assets and liabilities typically include, in addition to the unobservable or level 3 components, observable components (that is components that are actively quoted and can be validated to external sources), the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology.

	2015				2014
Six month period ended June 30,	Other Assets		Other Liabilities		Other Assets		Other Liabilities
	(Dollars in Thousands)
Fair value, January 1,	$	1,489		—		1,489		—
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at June 30,		306		—		—		—
Accretion of previous discounted amounts		8
Purchases, issuances and settlements, net		—		—		—		—
Transfers in and/or out of Level 3		—		—		—		—
Fair value, June 30,	$	1,803		—		1,489		—

The estimated fair values of financial instruments were as follows at June 30, 2015:

	Carrying Amount		Estimated Fair Value		Quoted Prices In Active Markets for Identical Assets Level 1		Using Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3
Financial Assets:
Cash and due from banks	$	16,538		16,538		16,538		—		—
Interest-earning deposits		3,145		3,145		3,145		—		—
Securities available for sale		247,673		247,673		2,010		243,860		1,803
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans held for sale		2,470		2,470		—		2,470		—
Loans receivable		554,806		554,193		—		—		554,193
Accrued interest receivable		3,873		3,873		—		3,873		—
Financial liabilities:
Deposits		717,519		700,283		—		700,283		—
Advances from borrowers for taxes and insurance		792		792		—		792		—
Advances from Federal Home Loan Bank		9,000		9,136		—		9,136		—
Repurchase agreements		48,224		48,485		—		48,485		—
Subordinated debentures		10,310		10,099		—		—		10,099
Off-balance-sheet liabilities:
Market value of interest rate swap		198		198		—		198		—

The estimated fair values of financial instruments were as follows at December 31, 2014:

	Carrying Amount		Estimated Fair Value		Quoted Prices In Active Markets for Identical Assets Level 1		Using Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3
Financial Assets:
Cash and due from banks	$	34,389		34,389		34,389		—		—
Interest-earning deposits		6,050		6,050		6,050		—		—
Securities available for sale		303,628		303,628		—		302,139		1,489
Federal Home Loan Bank stock		4,428		4,428		—		4,428		—
Loans held for sale		1,444		1,444		—		1,444		—
Loans receivable		539,264		537,493		—		—		537,493
Accrued interest receivable		4,576		4,576		—		4,576		—
Financial liabilities:
Deposits		731,308		714,750		—		714,750		—
Advances from borrowers for taxes and insurance		513		513		—		513		—
Advances from Federal Home Loan Bank		34,000		34,217		—		34,217		—
Repurchase agreements		57,358		57,688		—		57,688		—
Subordinated debentures		10,310		10,099		—		—		10,099
Off-balance-sheet liabilities:
Market value of interest rate swap		390		390		—		390		—

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Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 05, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	HFBC
Entity Registrant Name	HOPFED BANCORP INC
Entity Central Index Key	0001041550
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		6,975,308

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Derivative Instruments

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

(9) DERIVATIVE INSTRUMENTS

Under guidelines of Financial Accounting Standards Board (“FASB”) ASC 815, Derivative Instruments and Hedging Activities, as amended, all derivative instruments are required to be carried at fair value on the consolidated statement of financial position. ASC 815 provides special hedge accounting provisions, which permit the change in fair value of the hedge item related to the risk being hedged to be recognized in earnings in the same period and in the same income statement line as the change in the fair value of the derivative.

A derivative instrument designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges under ASC 815. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Cash value hedges are accounted for by recording the fair value of the derivative instrument and the fair value related to the risk being hedged of the hedged asset or liability on the consolidated statement of financial position with corresponding offsets recorded in the consolidated statement of financial position.

The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the income or expense recorded on the hedged asset or liability.

Under both the fair value and cash flow hedge methods, derivative gains and losses not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instrument has been highly effective in offsetting changes in the fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been, or will not continue to be highly effective as a hedge, hedged accounting is discontinued. ASC 815 basis adjustments recorded on hedged assets and liabilities are amortized over the remaining life of the hedged item beginning no later than when hedge accounting ceases. There were no fair value hedging gains or losses, as a result of hedge ineffectiveness, recognized for the six month period ended June 30, 2015, or the year ended December 31, 2014.

In October of 2008, the Bank entered into an interest rate swap agreement for a term of seven years and an amount of $10.0 million. The Bank will pay a fixed rate of 7.27% for seven years and receive an amount equal to the three-month London Interbank Lending Rate (LIBOR) plus 3.10%. The interest rate swap is classified as a cash flow hedge by the Bank and will be tested quarterly for effectiveness. At June 30, 2015, and December 31, 2014, the cost of the Bank to terminate the cash flow hedge was approximately $198,000 and $390,000, respectively. The interest rate swap agreement expires October 8, 2015.

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Consolidated Condensed Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income:
Loans receivable	$ 6,231	$ 6,503	$ 12,521	$ 12,830
Securities available for sale - taxable	1,268	1,694	3,716	3,473
Securities available for sale - nontaxable	416	531	869	1,075
Interest-earning deposits	4	6	8	14
Total interest income	7,919	8,734	17,114	17,392
Interest expense:
Deposits	1,245	1,488	2,505	2,959
Advances from Federal Home Loan Bank	66	428	135	862
Repurchase agreements	118	245	238	494
Subordinated debentures	183	193	367	377
Total interest expense	1,612	2,354	3,245	4,692
Net interest income	6,307	6,380	13,869	12,700
Provision for loan losses	270	(261)	485	119
Net interest income after provision for loan losses	6,037	6,641	13,384	12,581
Non-interest income:
Service charges	720	848	1,434	1,626
Merchant card income	286	276	556	535
Mortgage origination revenue	343	133	520	191
Gain on sale of securities	83	241	449	254
Income from bank owned life insurance	73	66	144	161
Financial services commission	194	168	353	374
Other operating income	169	213	325	402
Total non-interest income	1,868	1,945	3,781	3,543
Non-interest expenses:
Salaries and benefits	4,004	3,692	8,188	7,487
Occupancy	752	808	1,490	1,717
Data processing	701	736	1,393	1,464
Bank franchise tax	251	398	499	644
Intangible amortization	16	33	32	65
Professional services	468	341	797	628
Deposit insurance and examination	151	183	268	380
Advertising	340	341	646	655
Postage and communications	134	140	266	283
Supplies	111	158	257	303
Loss on real estate owned	741	102	734	125
Real estate owned	67	92	204	222
Other operating	498	423	930	798
Total non-interest expense	8,234	7,447	15,704	14,771
Income (loss) before income tax	(329)	1,139	1,461	1,353
Income tax expense (benefit)	(212)	214	223	74
Net income (loss)	$ (117)	$ 925	$ 1,238	$ 1,279
Net income (loss) per share:
Basic	$ (0.02)	$ 0.13	$ 0.19	$ 0.17
Diluted	(0.02)	0.13	0.19	0.17
Dividend per share	$ 0.04	$ 0.04	$ 0.08	$ 0.08
Weighted average shares outstanding - basic	6,425,687	7,376,726	6,588,845	7,396,627
Weighted average shares outstanding - diluted	6,425,687	7,376,726	6,588,845	7,396,627

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Stock Compensation

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Compensation

(3) STOCK COMPENSATION

The Company incurred compensation cost related to the HopFed Bancorp, Inc. 2004 Long Term Incentive Plan of $49,000 and $98,000 for the three and six month periods ended June 30, 2015, and $35,000 and $65,000 for the three and six month periods ended June 30, 2014, respectively. The Company issued 771 shares during the three and six month periods ended June 30, 2015. The Company issued 20,238 shares of restricted stock during the three and six month periods ended June 30, 2014. The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at June 30, 2015:

Year Ending December 31,	Future Expense
2015	$	89,875
2016		135,283
2017		48,459
2018		5,630
2019		725
Total	$	279,972

The compensation committee may make additional awards of restricted stock, thereby increasing the future expense related to this plan. In addition, award vesting may be accelerated due to certain events as outlined in the restricted stock award agreement. Any acceleration of vesting will change the timing of, but not the aggregate amount of, compensation expense incurred.

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Income (Loss) Per Share

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Income (Loss) Per Share

(2) INCOME (LOSS) PER SHARE

The following schedule reconciles the numerators and denominators of the basic and diluted income (loss) per share (“IPS”) computations for the three and six month periods ended June 30, 2015, and June 30, 2014. For the three and six month periods ended June 30, 2015, the Company’s financial statements reflect a liability adequate to release of 29,170 shares from the HopFed Bancorp, Inc. 2015 Employee Stock Ownership Plan (the “ESOP”). Therefore, the Company has included 29,170 shares held by the ESOP in the IPS calculation. The Company has excluded 570,830 unearned shares purchased and owned by the ESOP from our IPS computations. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrants outstanding.

	Three Month Period Ended June 30,
	2015			2014
Basic IPS:
Net income (loss)	($	117,000	)	$	925,000
Average common shares outstanding		6,425,687			7,376,726
Net income (loss) per share	($	0.02	)	$	0.13
Diluted IPS
Net income (loss)	($	117,000	)	$	925,000
Average common shares outstanding		6,425,687			7,376,726
Dilutive effect of stock options		—			—
Average diluted shares outstanding		6,425,687			7,376,726
Net income (loss) per share, diluted	($	0.02	)	$	0.13
	Six Month Period Ended June 30,
	2015			2014
Basic IPS:
Net income	$	1,238,000		$	1,279,000
Average common shares outstanding		6,588,845			7,396,627
Net income per share	$	0.19		$	0.17
Diluted IPS
Net income	$	1,238,000		$	1,279,000
Average common shares outstanding		6,588,845			7,396,627
Dilutive effect of stock options		—			—
Average diluted shares outstanding		6,588,845			7,396,627
Net income per share, diluted	$	0.19		$	0.17

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Loans (Policies)

6 Months Ended

Jun. 30, 2015

Accounting Changes and Error Corrections [Abstract]

Troubled Debt Restructuring

On a periodic basis, the Bank may modify the terms of certain loans. In evaluating whether a restructuring constitutes a troubled debt restructuring (TDR), Financial Accounting Standards Board has issued Accounting Standards Update 310 (ASU 310), A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. In evaluating whether a restructuring constitutes a TDR, the Bank must separately conclude that both of the following exist:

• The restructuring constitutes a concession

• The debtor is experiencing financial difficulties

ASU 310 provides the following guidance for the Bank’s evaluation of whether it has granted a concession as follows:

• If a debtor does not otherwise have access to funds at a market interest rate for debt with similar risk characteristics as the restructured debt, the restructured debt would be considered a below market rate, which may indicate that the Bank may have granted a concession. In that circumstance, the Bank should consider all aspects of the restructuring in determining whether it has granted a concession, the creditor must make a separate assessment about whether the debtor is experiencing financial difficulties to determine whether the restructuring constitutes a TDR.

• A temporary or permanent increase in the interest rate on a loan as a result of a restructuring does not eliminate the possibility of the restructuring from being considered a concession if the new interest rate on the loan is below the market interest rate for loans of similar risk characteristics.

• A restructuring that results in a delay in payment that is insignificant is not a concession. However, the Bank must consider a variety of factors in assessing whether a restructuring resulting in a delay in payment is insignificant.

Fair Value Measurement

In September 2006, the FASB issued ASC 820-10, Fair Value Measurements. This Statement defines fair value, establishes a framework for measuring fair value and expands disclosure about fair value. The statement establishes a fair value hierarchy which requires an entity to maximize the use of observable input and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value.

• Level 1 is for assets and liabilities that management has obtained quoted prices (unadjusted for transaction cost) or identical assets or liabilities in active markets that the Company has the ability to access as of the measurement date.

• Level 2 is for assets and liabilities in which significant unobservable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

• Level 3 is for assets and liabilities in which significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company’s $1.8 million trust preferred is the only investment instrument classified as a Level 3 asset. The Company determines the value of the instrument by using the present value of scheduled future cash flows and discount accretion to determine an estimated market value for the security.

The fair values of securities available for sale are determined by a matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without exclusively using quoted prices for the individual securities in the Company’s portfolio but rather by relying on the securities relationship to other benchmark quoted securities. Impaired loans are valued at the net present value of expected payments using the fair value of any assigned collateral. The liability associated with the Company’s derivative is obtained from a quoted value supplied by our correspondent banker. The value of real estate owned is obtained from appraisals completed on properties at the time of acquisition and annually thereafter.

Derivative Instruments and Hedging Activities

Under guidelines of Financial Accounting Standards Board (“FASB”) ASC 815, Derivative Instruments and Hedging Activities, as amended, all derivative instruments are required to be carried at fair value on the consolidated statement of financial position. ASC 815 provides special hedge accounting provisions, which permit the change in fair value of the hedge item related to the risk being hedged to be recognized in earnings in the same period and in the same income statement line as the change in the fair value of the derivative.

A derivative instrument designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges under ASC 815. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Cash value hedges are accounted for by recording the fair value of the derivative instrument and the fair value related to the risk being hedged of the hedged asset or liability on the consolidated statement of financial position with corresponding offsets recorded in the consolidated statement of financial position.

The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the income or expense recorded on the hedged asset or liability.

Under both the fair value and cash flow hedge methods, derivative gains and losses not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instrument has been highly effective in offsetting changes in the fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been, or will not continue to be highly effective as a hedge, hedged accounting is discontinued. ASC 815 basis adjustments recorded on hedged assets and liabilities are amortized over the remaining life of the hedged item beginning no later than when hedge accounting ceases. There were no fair value hedging gains or losses, as a result of hedge ineffectiveness, recognized for the six month period ended June 30, 2015, or the year ended December 31, 2014.

In October of 2008, the Bank entered into an interest rate swap agreement for a term of seven years and an amount of $10.0 million. The Bank will pay a fixed rate of 7.27% for seven years and receive an amount equal to the three-month London Interbank Lending Rate (LIBOR) plus 3.10%. The interest rate swap is classified as a cash flow hedge by the Bank and will be tested quarterly for effectiveness. At June 30, 2015, and December 31, 2014, the cost of the Bank to terminate the cash flow hedge was approximately $198,000 and $390,000, respectively. The interest rate swap agreement expires October 8, 2015.

Receivables-Troubled Debt Restructurings by Creditors

In January 2014, the FASB issued ASU No. 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. These amendments are intended to clarify when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. The amendments clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either: (1) the creditor obtaining legal title to the residential real estate property upon completion of residential foreclosure, or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additional disclosures about such activities are required by these amendments. The amendments in this ASU become effective for public companies for annual periods and interim periods within those annual periods beginning after December 15, 2014, and early adoption is permitted. The adoption of ASU 2014-04 did not have a material impact on the Company’s financial position or results of operations.

Repurchase Agreements

On June 12, 2014, the FASB issued ASU 2014-11, which makes limited amendments to the guidance in ASC 860 on accounting for certain repurchase agreements (“repos”). ASU 2014-11 requires entities to account for repurchase-to-maturity transactions as secured borrowings (rather than as sales with forward repurchase agreements), (2) eliminates accounting guidance on linked repurchase financing transactions, and (3) expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers (specifically, repos, securities lending transactions, and repurchase-to-maturity transactions) accounted for as secured borrowings. ASU 2014-11 also amends ASC 860 to clarify that repos and securities lending transactions that do not meet all of the de-recognition criteria in ASC 860-10-40-5 should be accounted for as secured borrowings. In addition, the ASU provides examples of repurchase and securities lending arrangements that illustrate whether a transferor has maintained effective control over the transferred financial assets. For public business entities, the accounting changes are effective for the first interim or annual period beginning after December 15, 2014. The adoption of ASU 2014-11 did not have a material impact on the Company’s financial position or results of operations.

Investments - Equity Method and Joint Ventures

ASU 2014-1, which amends FASB ASC Topic 323, Investments – Equity Method and Joint Ventures. The ASU impacts the Company’s accounting for investments in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low-income housing tax credit. The amendments in the update permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received. The entity recognizes the net investment performance in the income statement as a component of income tax expense. The Company has chosen to continue to utilize the equity method for reporting under this topic. For public business entities, the accounting changes are effective for annual periods and interim reporting periods beginning after December 15, 2014. The adoption of ASU 2014-01 did not have a material impact on the Company’s financial position or results of operations.

Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period

ASU No. 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” The amendments in the ASU require that a performance target that affects vesting and that could be achieved after the requisite service period is treated as a performance condition. A reporting entity should apply existing guidance in Topic 718, Compensation - Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. However, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest.

The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. The Company adopted ASU No. 2014-12 effective January 1, 2015. Entities may apply the amendments in this ASU either: (1) prospectively to all awards granted or modified after the effective date; or (2) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. As of March 31, 2015, the Company did not have any share-based payment awards that included performance targets that could be achieved after the requisite service period. As such, the adoption of ASU No. 2014-12 did not have a material impact on the Company’s Consolidated Financial Statements.

Income Statement - Extraordinary and Unusual Items

ASU 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) – Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” ASU 2015-01 eliminates from U.S. GAAP the concept of extraordinary items, which, among other things, required an entity to segregate extraordinary items considered to be unusual and infrequent from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. ASU 2015-01 is effective for the Corporation beginning January 1, 2016, though early adoption is permitted. ASU 2015-01 is not expected to have a significant impact on the Company’s consolidated financial position or results of operations.

Amendments to the Consolidation Analysis

ASU No. 2015-02, “Amendments to the Consolidation Analysis.” This ASU affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments: (1) Modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities; (2) Eliminate the presumption that a general partner should consolidate a limited partnership; (3) Affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) Provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU No. 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company is currently evaluating the provisions of ASU No. 2015-02 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. In May 2014, the FASB issued new guidance related to Revenue from Contracts with Customers. This guidance supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Accounting Standards Codification. The guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016; however, the FASB has proposed a one year deferral of the effective date. The Company is currently evaluating this guidance to determine the impact on its consolidated financial statements.

Effective January 1, 2015, the Company adopted new guidance related to Receivables. The new guidance requires that a government guaranteed mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if certain conditions are met. The adoption of this guidance was not material to the consolidated financial statements.

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Effect of New Accounting Pronouncements

6 Months Ended

Jun. 30, 2015

Accounting Changes and Error Corrections [Abstract]

Effect of New Accounting Pronouncements

(10) EFFECT OF NEW ACCOUNTING PRONOUNCEMENTS

In January 2014, the FASB issued ASU No. 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. These amendments are intended to clarify when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. The amendments clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either: (1) the creditor obtaining legal title to the residential real estate property upon completion of residential foreclosure, or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additional disclosures about such activities are required by these amendments. The amendments in this ASU become effective for public companies for annual periods and interim periods within those annual periods beginning after December 15, 2014, and early adoption is permitted. The adoption of ASU 2014-04 did not have a material impact on the Company’s financial position or results of operations.

On June 12, 2014, the FASB issued ASU 2014-11, which makes limited amendments to the guidance in ASC 860 on accounting for certain repurchase agreements (“repos”). ASU 2014-11 requires entities to account for repurchase-to-maturity transactions as secured borrowings (rather than as sales with forward repurchase agreements), (2) eliminates accounting guidance on linked repurchase financing transactions, and (3) expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers (specifically, repos, securities lending transactions, and repurchase-to-maturity transactions) accounted for as secured borrowings. ASU 2014-11 also amends ASC 860 to clarify that repos and securities lending transactions that do not meet all of the de-recognition criteria in ASC 860-10-40-5 should be accounted for as secured borrowings. In addition, the ASU provides examples of repurchase and securities lending arrangements that illustrate whether a transferor has maintained effective control over the transferred financial assets. For public business entities, the accounting changes are effective for the first interim or annual period beginning after December 15, 2014. The adoption of ASU 2014-11 did not have a material impact on the Company’s financial position or results of operations.

ASU 2014-1, which amends FASB ASC Topic 323, Investments – Equity Method and Joint Ventures. The ASU impacts the Company’s accounting for investments in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low-income housing tax credit. The amendments in the update permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received. The entity recognizes the net investment performance in the income statement as a component of income tax expense. The Company has chosen to continue to utilize the equity method for reporting under this topic. For public business entities, the accounting changes are effective for annual periods and interim reporting periods beginning after December 15, 2014. The adoption of ASU 2014-01 did not have a material impact on the Company’s financial position or results of operations.

ASU No. 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” The amendments in the ASU require that a performance target that affects vesting and that could be achieved after the requisite service period is treated as a performance condition. A reporting entity should apply existing guidance in Topic 718, Compensation - Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. However, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest.

The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. The Company adopted ASU No. 2014-12 effective January 1, 2015. Entities may apply the amendments in this ASU either: (1) prospectively to all awards granted or modified after the effective date; or (2) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. As of March 31, 2015, the Company did not have any share-based payment awards that included performance targets that could be achieved after the requisite service period. As such, the adoption of ASU No. 2014-12 did not have a material impact on the Company’s Consolidated Financial Statements.

ASU 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) – Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” ASU 2015-01 eliminates from U.S. GAAP the concept of extraordinary items, which, among other things, required an entity to segregate extraordinary items considered to be unusual and infrequent from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. ASU 2015-01 is effective for the Corporation beginning January 1, 2016, though early adoption is permitted. ASU 2015-01 is not expected to have a significant impact on the Company’s consolidated financial position or results of operations.

ASU No. 2015-02, “Amendments to the Consolidation Analysis.” This ASU affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments: (1) Modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities; (2) Eliminate the presumption that a general partner should consolidate a limited partnership; (3) Affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) Provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU No. 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company is currently evaluating the provisions of ASU No. 2015-02 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. In May 2014, the FASB issued new guidance related to Revenue from Contracts with Customers. This guidance supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Accounting Standards Codification. The guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016; however, the FASB has proposed a one year deferral of the effective date. The Company is currently evaluating this guidance to determine the impact on its consolidated financial statements.

Effective January 1, 2015, the Company adopted new guidance related to Receivables. The new guidance requires that a government guaranteed mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if certain conditions are met. The adoption of this guidance was not material to the consolidated financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

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Real Estate and Other Assets Owned

6 Months Ended

Jun. 30, 2015

Text Block [Abstract]

Real Estate and Other Assets Owned

(6) REAL ESTATE AND OTHER ASSETS OWNED

The Company’s real estate and other assets owned represent properties and personal collateral acquired through customer loan defaults. The property is recorded at the lower of cost or fair value less estimated cost to sell and carrying cost at the date acquired. Any difference between the book value and estimated market value is recognized as a charge off through the allowance for loan loss account. Additional real estate owned and other asset losses may be determined on individual properties at specific intervals or at the time of disposal. In general, the Company will obtain a new appraisal on all real estate owned with a book balance in excess of $250,000 on an annual basis. Additional losses are recognized as a non-interest expense.

At June 30, 2015, December 31, 2014, and June 30, 2014, the composition of the Company’s balances in both real estate and assets owned and non-accrual loans are as follows:

	June 30, 2015			December 31, 2014			June 30, 2014
	(Dollars in Thousands)
One-to-four family mortgages	$	115			159			356
Land		943			1,768			934
Non-residential real estate		737			—			200
Total other assets owned	$	1,795			1,927			1,490
Total non-accrual loans	$	7,056			3,175			8,735
Total non-performing assets	$	8,851			5,102			10,225
Non-performing assets / Total assets		1.01	%		0.55	%		1.08	%

The following is a summary of the activity in the Company’s real estate and other assets owned for the six month period ending June 30, 2015:

	Balance		Activity During 2015					Reduction		Gain (Loss)			Balance
	12/31/2014		Foreclosures		Proceeds			in Values		on Sale			6/30/2015
	(Dollars in Thousands)
One-to-four family mortgages	$	159		105		(116	)		—		(33	)		115
Land		1,768		—		(124	)		—		(701	)		943
Non-residential real estate		—		737		—			—		—			737
Total	$	1,927		842		(240	)		—		(734	)		1,795

The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2014:

	Activity During 2014
	Balance 12/31/2013		Foreclosures		Sales			Reduction in Values			Gain (Loss) on Sale			Balance 12/31/2014
	(Dollars in Thousands)
One-to-four family mortgages	$	350		461		(667	)		(5	)		20			159
Land		1,124		943		(123	)		(157	)		(19	)		1,768
Non-residential real estate		200		175		(328	)		—			(47	)		—
Total	$	1,674		1,579		(1,118	)		(162	)		(46	)		1,927

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Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]
Reserve on impaired loans	$ 746	$ 1,514	$ 1,500
Fair Value, Measurements, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items]
Reserve on impaired loans	$ 746	$ 1,514

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Securities

6 Months Ended

Jun. 30, 2015

Cash and Cash Equivalents [Abstract]

Securities

(4) SECURITIES

Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluations. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.

At June 30, 2015, the Company has 61 securities with unrealized losses. The carrying amount of securities and their estimated fair values at June 30, 2015, were as follows:

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Restricted:
FHLB stock	$	4,428		—		—			4,428
Available for sale
U.S. Treasury securities	$	2,001		10		—			2,011
Agency debt securities		92,585		1,971		(539	)		94,017
Taxable municipal bonds		8,428		150		(78	)		8,500
Tax free municipal bonds		49,143		2,511		(202	)		51,452
Trust preferred securities		1,608		195		—			1,803
Mortgage-backed securities:
GNMA		21,874		252		(124	)		22,002
FNMA		32,733		423		(112	)		33,044
FHLMC		5,657		30		(34	)		5,653
SLMA CMO		3,806		—		(23	)		3,783
AGENCY CMO		25,316		186		(94	)		25,408
	$	243,151		5,728		(1,206	)		247,673

The carrying amount of securities and their estimated fair values at December 31, 2014, was as follows:

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Restricted:
FHLB stock	$	4,428		—		—			4,428
Available for sale
U.S. Treasury securities	$	3,977		3		—			3,980
Agency debt securities		101,654		2,125		(527	)		103,252
Tax free municipal bonds		57,399		3,814		(166	)		61,047
Taxable municipal bonds		11,871		235		(63	)		12,043
Trust preferred securities		1,600		—		(111	)		1,489
Commercial bonds		2,000		7		—			2,007
Mortgage-backed securities:
GNMA		27,535		670		(122	)		28,083
FNMA		50,617		694		(536	)		50,775
FHLMC		3,276		38		—			3,314
SLMA CMO		9,895		—		(252	)		9,643
AGENCY CMO		28,024		176		(205	)		27,995
	$	297,848		7,762		(1,982	)		303,628

The scheduled maturities of debt securities available for sale at June 30, 2015, were as follows:

June 30, 2015	Amortized Cost		Estimated Fair Value
Due within one year	$	4,830	$	4,927
Due in one to five years		16,675		16,972
Due in five to ten years		40,668		41,210
Due after ten years		26,089		27,452
		88,262		90,561
Amortizing agency bonds		65,503		67,222
Mortgage-backed securities		89,386		89,890
Total unrestricted securities available for sale	$	243,151	$	247,673

The scheduled maturities of debt securities available for sale at December 31, 2014, were as follows:

December 31, 2014	Amortized Cost		Estimated Fair Value
Due within one year	$	4,830	$	4,927
Due in one to five years		21,564		21,818
Due in five to ten years		41,683		42,613
Due after ten years		33,119		35,380
		101,196		104,738
Amortizing agency bonds		77,305		79,080
Mortgage-backed securities		119,347		119,810
Total unrestricted securities available for sale	$	297,848	$	303,628

The estimated fair value and unrealized loss amounts of temporarily impaired investments as of June 30, 2015, are as follows:

	Less than 12 months					12 months or longer					Total
	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
	(Dollars in Thousands)
Available for sale
U.S. Agency debt securities	$	20,573		(172	)		14,473		(367	)		35,046		(539	)
Taxable municipals		2,043		(15	)		2,994		(63	)		5,037		(78	)
Tax free municipals		1,475		(3	)		6,209		(199	)		7,684		(202	)
Mortgage-backed securities:
GNMA		4,954		(38	)		11,177		(86	)		16,131		(124	)
FNMA		7,338		(62	)		3,068		(50	)		10,406		(112	)
FHLMC		2,663		(34	)		—		—			2,663		(34	)
SLMA CMOs		183		(2	)		3,600		(21	)		3,783		(23	)
AGENCY CMOs		8,245		(29	)		1,970		(65	)		10,215		(94	)
Total available for sale	$	47,474		(355	)		43,491		(851	)		90,965		(1,206	)

The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2014, were as follows:

	Less than 12 months					12 months or longer					Total
December 31, 2014	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
Available for sale
U.S. Agency debt securities	$	14,021		(20	)		29,156		(507	)		43,177		(527	)
Taxable municipals		—		—			4,785		(63	)		4,785		(63	)
Tax free municipals		—		—			6,647		(166	)		6,647		(166	)
Trust preferred securities		—		—			1,489		(111	)		1,489		(111	)
Mortgage-backed securities:
GNMA		12,568		(108	)		2,895		(14	)		15,463		(122	)
FNMA		—		—			18,927		(536	)		18,927		(536	)
SLMA CMOs		1,923		(14	)		7,720		(238	)		9,643		(252	)
AGENCY CMOs		9,545		(91	)		7,685		(114	)		17,230		(205	)
Total available for sale	$	38,057		(233	)		79,304		(1,749	)		117,361		(1,982	)

At June 30, 2015, securities with a book value of approximately $162.8 million and a market value of approximately $168.2 million were pledged to various municipalities for deposits in excess of FDIC limits as required by law.

At June 30, 2015, securities with a book and market value of $42.2 million were sold under agreements to repurchase from various customers. Furthermore, the Company has a wholesale repurchase agreement with third party secured by investments with a combined book value of $6.9 million and a market value of $7.1 million. The repurchase agreement is in the amount of $6.0 million and has a maturity of September 18, 2016, and is currently callable on a quarterly basis and has a fixed rate of interest of 4.36%.

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Loans

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Loans

(5) LOANS

The components of loans receivable in the consolidated balance sheets as of June 30, 2015, and December 31, 2014, were as follows:

	June 30, 2015			June 30, 2015			December 31, 2014			December 31, 2014
	Amount			Percent			Amount			Percent
	(Dollars in thousands, except percentages)
Real estate loans
One-to-four family (closed end) first mortgages	$	146,285			26.1	%	$	150,551			27.6	%
Second mortgages (closed end)		2,046			0.4	%		2,102			0.4	%
Home equity lines of credit		33,803			6.0	%		34,238			6.3	%
Multi-family		22,580			4.0	%		25,991			4.8	%
Construction		27,072			4.8	%		24,241			4.4	%
Land		24,521			4.4	%		26,654			4.9	%
Farmland		41,224			7.4	%		42,874			7.8	%
Non-residential real estate		160,039			28.5	%		150,596			27.6	%
Total mortgage loans		457,570			81.6	%		457,247			83.8	%
Consumer loans		16,011			2.9	%		14,438			2.6	%
Commercial loans		87,148			15.5	%		74,154			13.6	%
Total other loans		103,159			18.4	%		88,592			16.2	%
Total loans, gross		560,729			100.0	%		545,839			100.0	%
Deferred loan cost, net of income		(389	)					(286	)
Less allowance for loan losses		(5,534	)					(6,289	)
Total loans	$	554,806					$	539,264

The allowance for loan losses totaled $5.5 million at June 30, 2015, $6.3 million at December 31, 2014, and $8.4 million at June 30, 2014, respectively. The ratio of the allowance for loan losses to total loans was 0.99% at June 30, 2015, 1.15% at December 31, 2014, and 1.53% at June 30, 2014. The following table indicates the type and level of non-accrual loans at the periods indicated below:

	June 30, 2015		December 31, 2014		June 30, 2014
	(Dollars in Thousands)
One-to-four family mortgages	$	1,456		1,501		524
Home equity line of credit		48		—		29
Multi-family		1,827		95		—
Land		1,982		215		1,217
Non-residential real estate		520		1,159		6,520
Farmland		209		115		13
Consumer loans		—		—		1
Commercial loans		1,014		90		431
Total non-accrual loans	$	7,056		3,175		8,735

The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the six month period ended June 30, 2015:

Six month period ended June 30, 2015	Balance 12/31/2014		Charge off 2015			Recovery 2015		General Provision 2015			Specific Provision 2015			Ending Balance 6/30/2015
One-to-four family mortgages	$	1,198		(88	)		21		61			(194	)		998
Home equity line of credit		181		(92	)		3		89			15			196
Junior liens		14		—			2		(2	)		(4	)		10
Multi-family		85		—			—		—			(12	)		73
Construction		146		—			—		—			20			166
Land		1,123		(631	)		—		84			597			1,173
Non-residential real estate		2,083		(222	)		2		(73	)		(150	)		1,640
Farmland		461		—			—		—			(94	)		367
Consumer loans		494		(177	)		73		91			(134	)		347
Commercial loans		504		(147	)		16		222			(31	)		564
	$	6,289		(1,357	)		117		472			13			5,534

The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the year ended December 31, 2014:

Year ended December 31, 2014	Balance 12/31/2013		Charge off 2014			Recovery 2014		General Provision 2014			Specific Provision 2014			Ending Balance 12/31/2014
One-to-four family mortgages	$	2,048		(233	)		24		(304	)		(337	)		1,198
Home equity line of credit		218		(83	)		3		(37	)		80			181
Junior liens		39		—			9		(25	)		(9	)		14
Multi-family		466		—			—		(381	)		—			85
Construction		88		(139	)		9		58			130			146
Land		1,305		—			—		(74	)		(108	)		1,123
Non-residential real estate		2,719		(66	)		864		(1,368	)		(66	)		2,083
Farmland		510		—			—		542			(591	)		461
Consumer loans		541		(415	)		109		(13	)		272			494
Commercial loans		748		(296	)		94		(244	)		202			504
	$	8,682		(1,232	)		1,112		(1,846	)		(427	)		6,289

The table below presents loan balances at June 30, 2015, by loan classification allocated between past due, performing and non-performing:

			30 – 89						Impaired Loans
	Currently		Days		Non-accrual		Special		Currently Performing
June 30, 2015	Performing		Past Due		Loans		Mention		Substandard		Doubtful		Total
	(Dollars in Thousands)
One-to-four family mortgages	$	142,987		398		1,456		42		1,402		—		146,285
Home equity line of credit		33,113		69		48		—		573		—		33,803
Junior liens		1,992		—		—		38		16		—		2,046
Multi-family		17,818		140		1,827		1,655		1,140		—		22,580
Construction		26,972		100		—		—		—		—		27,072
Land		14,425		—		1,982		44		8,070		—		24,521
Non-residential real estate		149,565		162		520		640		9,152		—		160,039
Farmland		40,143		168		209		681		23		—		41,224
Consumer loans		15,790		13		—		14		194		—		16,011
Commercial loans		84,772		126		1,014		169		1,067		—		87,148
Total	$	527,577		1,176		7,056		3,283		21,637		—		560,729

The table below presents loan balances at December 31, 2014, by loan classification allocated between past due, performing and non-performing:

			30 - 89						Impaired Loans
	Currently		Days		Non-accrual		Special		Currently Performing
	Performing		Past Due		Loans		Mention		Substandard		Doubtful		Total
One-to-four family mortgages	$	145,372		757		1,501		203		2,718		—		150,551
Home equity line of credit		33,338		143		—		—		757		—		34,238
Junior liens		2,025		—		—		40		37		—		2,102
Multi-family		20,066		—		95		2,904		2,926		—		25,991
Construction		24,241		—		—		—		—		—		24,241
Land		14,674		654		215		362		10,749		—		26,654
Non-residential real estate		131,854		—		1,159		5,492		12,091		—		150,596
Farmland		40,057		64		115		516		2,122		—		42,874
Consumer loans		14,104		14		—		21		299		—		14,438
Commercial loans		71,191		55		90		325		2,493		—		74,154
Total	$	496,922		1,687		3,175		9,863		34,192		—		545,839

The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of June 30, 2015, and December 31, 2014, by portfolio segment and based on the impairment method as of June 30, 2015, and December 31, 2014.

	Commercial		Land Development / Construction		Commercial Real Estate		Residential Real Estate		Consumer		Total
June 30, 2015:
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	91		116		445		46		48	$	746
Collectively evaluated for impairment		473		1,223		1,635		1,158		299		4,788
Total ending allowance balance	$	564		1,339		2,080		1,204		347	$	5,534
Loans:
Loans individually evaluated for impairment	$	2,081		10,052		12,871		3,495		194	$	28,693
Loans collectively evaluated for impairment		85,067		41,541		210,972		178,639		15,817		532,036
Total ending loans balance	$	87,148		51,593		223,843		182,134		16,011	$	560,729
	Commercial		Land Development / Construction		Commercial Real Estate		Residential Real Estate		Consumer		Total
December 31, 2014:
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	—		663		738		51		62	$	1,514
Collectively evaluated for impairment		504		606		1,891		1,342		432		4,775
Total ending allowance balance	$	504		1,269		2,629		1,393		494	$	6,289
Loans:
Loans individually evaluated for impairment	$	2,583		10,964		18,508		5,013		299	$	37,367
Loans collectively evaluated for impairment		71,571		39,931		200,953		181,878		14,139		508,472
Total ending loans balance	$	74,154		50,895		219,461		186,891		14,438	$	545,839

All loans listed as 30-89 days past due and non-accrual are not performing as agreed. Loans listed as special mentioned, substandard and doubtful are paying as agreed. However, the customer’s financial statements may indicate weaknesses in their current cash flow, the customer’s industry may be in decline due to current economic conditions, collateral values used to secure the loan may be declining, or the Company may be concerned about the customer’s future business prospects.

The Company does not originate loans it considers sub-prime and is not aware of any exposure to the additional credit concerns associated with sub-prime lending in either the Company’s loan or investment portfolios. The Company does have a significant amount of construction and land development loans. Management reports to the Company’s Board of Directors on the status of the Company’s specific construction and development loans as well as the market trends in those markets in which the Company actively participates.

The Company’s annualized net charge off ratios for six month periods ended June 30, 2015, June 30, 2014, and the year ended December 31, 2014, was 0.45%, 0.16% and 0.02%, respectively. The ratios of allowance for loan losses to non-accrual loans at June 30, 2015, June 30, 2014, and December 31, 2014, were 78.4%, 95.6%, and 198.08%, respectively.

The determination of the allowance for loan losses is based on management’s analysis, performed on a quarterly basis. Various factors are considered, including the market value of the underlying collateral, growth and composition of the loan portfolio, the relationship of the allowance for loan losses to outstanding loans, historical loss experience, delinquency trends and prevailing economic conditions. Although management believes its allowance for loan losses is adequate, there can be no assurance that additional allowances will not be required or that losses on loans will not be incurred.

The Company conducts annual reviews on all loan relationships above one million to ascertain the borrowers continued ability to service their debt as agreed. In addition to the credit relationships mentioned above, management may classify any credit relationship once it becomes aware of adverse credit trends for that customer. Typically, the annual review consists of updated financial statements for borrowers and any guarantors, a review of the borrower’s credit history with the Company and other creditors, and current income tax information.

As a result of this review, management will classify loans based on their credit risk. Additionally, the Company provides a risk grade for all loans past due more than sixty days. The Company uses the following risk definitions for risk grades:

Satisfactory loans of average strength having some deficiency or vulnerability to changing economic or industry conditions. These customers should have reasonable amount of capital and operating ratios. Secured loans may lack in margin or liquidity. Loans to individuals, perhaps supported in dollars of net worth, but with supporting assets may be difficult to liquidate.

Watch loans are acceptable credits: (1) that need continual monitoring, such as out-of territory or asset-based loans (since the Bank does not have an asset-based lending department), or (2) with a marginal risk level to business concerns and individuals that; (a) have exhibited favorable performance in the past, though currently experiencing negative trends; (b) are in an industry that is experiencing volatility or is declining, and their performance is less than industry norms; and (c) are experiencing unfavorable trends in their financial position, such as one-time net losses or declines in asset values. These marginal borrowers may have early warning signs of problems such as occasional overdrafts and minor delinquency. If considered marginal, a loan would be a “watch” until financial data demonstrated improved performance or further deterioration to a “substandard” grade usually within a 12-month period. In the table on page 23, Watch loans are included with satisfactory loans and classified as Pass.

Special Mention loans are currently protected but are potentially weak. These loans constitute an undue and unwarranted credit risk but not to the point of justifying a substandard classification. The credit risk may be relatively minor yet constitutes an unwarranted risk in light of the circumstances surrounding a specific loan. These credit weaknesses, if not checked or corrected, will weaken the loan or inadequately protect the Bank’s credit position at some future date.

A Substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. The loans are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. This does not imply ultimate loss of the principal, but may involve burdensome administrative expenses and the accompanying cost to carry the credit. Examples of substandard loans include those to borrowers with insufficient or negative cash flow, negative net worth coupled with inadequate guarantor support, inadequate working capital, and/or significantly past-due loans and overdrafts.

A loan classified Doubtful has all the weaknesses inherent in a substandard credit except that the weaknesses make collection or liquidation in full (on the basis of currently existing facts, conditions, and values) highly questionable and improbable. The possibility of loss is extremely high, but because of certain pending factors charge-off is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and refinancing plans. The doubtful classification is applied to that portion of the credit in which the full collection of principal and interest is questionable.

A loan is considered to be impaired when management determines that it is possible that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. The value of individually impaired loans is measured based on the present value of expected payments or using the fair value of the collateral less cost to sell if the loan is collateral dependent. Currently, it is management’s practice to classify all substandard or doubtful loans as impaired. At June 30, 2015, December 31, 2014, and June 30, 2014, the Company’s impaired loans totaled $28.7 million, $37.4 million and $37.7 million, respectively.

At June 30, 2015, December 31, 2014 and June 30, 2014, the Company’s specific reserve for impaired loans totaled $746,000, $1.5 million and $1.5 million respectively. Loans by classification type and the related allowance amounts at June 30, 2015, are as follows:

											Specific		Reserve
											Reserve		for
			Special		Impaired Loans						for		Performing
June 30, 2015	Pass		Mention		Substandard		Doubful		Total		Impairment		Loans
	(Dollars in Thousands)
One-to-four family mortgages	$	143,385		42		2,858		—		146,285		46		952
Home equity line of credit		33,182		—		621		—		33,803		—		196
Junior liens		1,992		38		16		—		2,046		—		10
Multi-family		17,958		1,655		2,967		—		22,580		—		73
Construction		27,072		—		—		—		27,072		—		166
Land		14,425		44		10,052		—		24,521		116		1,057
Non-residential real estate		149,727		640		9,672		—		160,039		445		1,195
Farmland		40,311		681		232		—		41,224		—		367
Consumer loans		15,803		14		194		—		16,011		48		299
Commercial loans		84,898		169		2,081		—		87,148		91		473
Total	$	528,753		3,283		28,693		—		560,729		746		4,788
Loans by classification type and the related valuation allowance amounts at December 31, 2014, are as follows:
			Special		Impaired Loans						Specific Allowance for		Allowance For Loans
	Pass		Mention		Substandard		Doubtful		Total		Impairment		Not Impaired
December 31, 2014
One-to-four family mortgages	$	146,129		203		4,219		—		150,551		51		1,147
Home equity line of credit		33,481		—		757		—		34,238		—		181
Junior lien		2,025		40		37		—		2,102		—		14
Multi-family		20,066		2,904		3,021		—		25,991		—		85
Construction		24,241		—		—		—		24,241		—		146
Land		15,328		362		10,964		—		26,654		663		460
Non-residential real estate		131,854		5,492		13,250		—		150,596		738		1,345
Farmland		40,121		516		2,237		—		42,874		—		461
Consumer loans		14,118		21		299		—		14,438		62		432
Commercial loans		71,246		325		2,583		—		74,154		—		504
Total	$	498,609		9,863		37,367		—		545,839		1,514		4,775

Impaired loans by classification type and the related valuation allowance amounts at June 30, 2015, were as follows:

							For the three month period ended
	At June 30, 2015						June 30, 2015
			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
Impaired loans with no recorded reserve
One-to-four family mortgages	$	2,148		2,175		—		2,408		11
Home equity line of credit		621		621		—		693		—
Junior liens		16		16		—		18		—
Multi-family		2,967		2,967		—		2,982		34
Construction		—		—		—		—		—
Land		9,456		10,087		—		8,376		20
Farmland		232		232		—		237		—
Non-residential real estate		8,949		8,949		—		9,580		18
Consumer loans		3		3		—		5		—
Commercial loans		1,727		1,727		—		1,607		21
Total		26,119		26,777		—		25,906		104
Impaired loans with a specific allowance:
One-to-four family mortgages		710		710		46		712		—
Home equity line of credit		—		—		—		—		—
Junior liens		—		—		—		—		—
Multi-family		—		—		—		—		—
Construction		—		—		—		—		—
Land		596		596		116		2,009		—
Farmland		—		—		—		—		—
Non-residential real estate		723		723		445		952		—
Consumer loans		191		191		48		185		—
Commercial loans		354		354		91		529		16
Total		2,574		2,574		746		4,387		16
Total impaired loans	$	28,693		29,351		746		30,293		120

Impaired loans by classification type and the related valuation allowance amounts at December 31, 2014, were as follows:

							For the year ended
	At December 31, 2014						December 31, 2014
			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
Impaired loans with no specific allowance
One-to-four family mortgages	$	3,501		3,501		—		2,972		176
Home equity line of credit		757		757		—		690		35
Junior liens		37		37		—		39		2
Multi-family		3,021		3,021		—		1,342		190
Construction		—		—		—		29		—
Land		7,740		7,740		—		8,978		339
Non-residential real estate		12,057		12,057		—		8,672		669
Farmland		2,237		2,237				3,968		125
Consumer loans		51		51		—		36		3
Commercial loans		2,583		2,583		—		2,246		154
Total		31,984		31,984		—		28,972		1,693
Impaired loans with a specific allowance
One-to-four family mortgages	$	718		718		51		1,434		44
Home equity line of credit		—		—		—		—		—
Junior liens		—		—		—		—		—
Multi-family		—		—		—		—		—
Construction		—		—		—		—		—
Land		3,224		4,737		663		3,418		160
Non-residential real estate		1,193		1,258		738		3,617		69
Farmland		—		—		—		619		—
Consumer loans		248		248		62		355		—
Commercial loans		—		—		—		100		—
Total		5,383		6,961		1,514		9,543		273
Total impaired loans	$	37,367		38,945		1,514		38,515		1,966

On a periodic basis, the Bank may modify the terms of certain loans. In evaluating whether a restructuring constitutes a troubled debt restructuring (TDR), Financial Accounting Standards Board has issued Accounting Standards Update 310 (ASU 310), A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. In evaluating whether a restructuring constitutes a TDR, the Bank must separately conclude that both of the following exist:

• The restructuring constitutes a concession

• The debtor is experiencing financial difficulties

ASU 310 provides the following guidance for the Bank’s evaluation of whether it has granted a concession as follows:

• If a debtor does not otherwise have access to funds at a market interest rate for debt with similar risk characteristics as the restructured debt, the restructured debt would be considered a below market rate, which may indicate that the Bank may have granted a concession. In that circumstance, the Bank should consider all aspects of the restructuring in determining whether it has granted a concession, the creditor must make a separate assessment about whether the debtor is experiencing financial difficulties to determine whether the restructuring constitutes a TDR.

• A temporary or permanent increase in the interest rate on a loan as a result of a restructuring does not eliminate the possibility of the restructuring from being considered a concession if the new interest rate on the loan is below the market interest rate for loans of similar risk characteristics.

• A restructuring that results in a delay in payment that is insignificant is not a concession. However, the Bank must consider a variety of factors in assessing whether a restructuring resulting in a delay in payment is insignificant.

At December 31, 2014, and June 30, 2015, the Company had two loans classified as performing TDRs. At June 30, 2015, the terms of both loans are interest only and are paying as agreed. There was no activity in loans classified as TDRs for the six month ended June 30, 2015. A summary of the activity in loans classified as TDRs for the six month period ended June 30, 2015, is as follows:

	Balance at 12/31/14		New TDR		Loss or Foreclosure		Transferred to Held For Sale		Removed from (Taken to) Non-accrual		Balance at 6/30/15
	(Dollars in Thousands)
Non-residential real estate	$	3,284		—		—		—		—		3,284
Total performing TDR	$	3,284		—		—		—		—		3,284

A summary of the activity in loans classified as TDRs for the twelve month period ended December 31, 2014, is as follows:

	Balance at 12/31/13		New TDR		Loss or Foreclosure		Transferred to Held For Sale			Removed from (Taken to) Non-accrual		Balance at 12/31/14
	(Dollars in Thousands)
One-to-four family mortgages	$	—		—		—		—			—	$	—
Non-residential real estate		—		10,271		—		(6,987	)		—		3,284
Commercial loans		—		—		—		—			—		—
Total performing TDR	$	—		10,271		—		(6,987	)		—	$	3,284

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Investments in Affiliated Companies

6 Months Ended

Jun. 30, 2015

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Investments in Affiliated Companies

(7) INVESTMENTS IN AFFILIATED COMPANIES

Investments in affiliated companies accounted for under the equity method consist of 100% of the common stock of HopFed Capital Trust 1 (“Trust”), a wholly-owned statutory business trust. The Trust was formed on September 25, 2003. Summary financial information for the Trust follows (dollars in thousands):

Summary Statements of Financial Condition

	At June 30, 2015		At December 31, 2014
Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc.	$	10,310		10,310
Liabilities		—		—
Stockholder’s equity – trust preferred securities		10,000		10,000
Common stock (100% Owned by HopFed Bancorp, Inc.)		310		310
Total stockholders’ equity	$	10,310		10,310

Summary Statement of Income

	Three Month Periods Ended June 30,				Six Month Period Ended June 30,
	2015		2014		2015		2014
Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc.	$	89		87	$	174		173
Net income	$	89		87	$	174		173

Summary Statement of Stockholders’ Equity

(For the six month period ended June 30, 2015)

	Trust Preferred Securities		Common Stock		Retained Earnings			Total Stockholders’ Equity
Beginning balances, December 31, 2014	$	10,000		310		—			10,310
Net income		—		—		174			174
Dividends:
Trust preferred securities		—		—		(169	)		(169	)
Common paid to HopFed Bancorp, Inc.		—		—		(5	)		(5	)
Ending balances, June 30, 2015	$	10,000		310		—			10,310

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Income Taxes - Additional Information (Detail) - Jun. 30, 2015 - USD ($)	Total
Schedule Of Effective Tax Rate Reconciliation [Line Items]
Unrecognized tax benefits	$ 0
Effective tax rate	34.00%
Tennessee [Member]
Schedule Of Effective Tax Rate Reconciliation [Line Items]
Effective tax rate	6.50%

XML

Other Assets - Schedule of Investments Recognized in Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Investment Income, Net [Abstract]
Investment loss included in pre-tax income	$ 55	$ 51	$ 110	$ 102
Tax credits recognized in provision for income taxes	$ 24	$ 20	$ 48	$ 40

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Derivative Instruments - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Oct. 31, 2008
Derivative Instruments, Gain (Loss) [Line Items]
Hedging gains or losses, fair value	$ 0	$ 0
Duration of interest rate swap agreement	7 years
Interest rate swap amount			$ 10,000,000
Fixed rate of interest rate swap agreement to be paid	7.27%
Interest rate to be received under swap agreement	Three-month London Interbank Lending Rate (LIBOR) plus 3.10%
LIBOR	3.10%
Cost of termination of cash flow hedge	$ 198,000	$ 390,000
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swap agreement expiry date	Oct. 08, 2015

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Income (Loss) Per Share - Reconciliation of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Basic IPS:
Net income (loss)	$ (117,000)	$ 925,000	$ 1,238,000	$ 1,279,000
Average common shares outstanding	6,425,687	7,376,726	6,588,845	7,396,627
Net income (loss) per share	$ (0.02)	$ 0.13	$ 0.19	$ 0.17
Diluted IPS
Net income (loss)	$ 117,000	$ 925,000	$ 1,238,000	$ 1,279,000
Average common shares outstanding	6,425,687	7,376,726	6,588,845	7,396,627
Dilutive effect of stock options	0	0	0	0
Average diluted shares outstanding	6,425,687	7,376,726	6,588,845	7,396,627
Net income (loss) per share, diluted	$ (0.02)	$ 0.13	$ 0.19	$ 0.17

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Real Estate and Other Assets Owned - Summary of Activity in Company's Real Estate and Other Assets Owned (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 1,927	$ 1,674
Foreclosures	842	1,579
Proceeds/Sales	(240)	(1,118)
Reduction in Values		(162)
Gain (Loss) on Sale	(734)	(46)
Ending balance	1,795	1,927
One-to-Four Family Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	159	350
Foreclosures	105	461
Proceeds/Sales	(116)	(667)
Reduction in Values		(5)
Gain (Loss) on Sale	(33)	20
Ending balance	115	159
Land [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	1,768	1,124
Foreclosures		943
Proceeds/Sales	(124)	(123)
Reduction in Values		(157)
Gain (Loss) on Sale	(701)	(19)
Ending balance	943	1,768
Non-Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance		200
Foreclosures	737	175
Proceeds/Sales		(328)
Gain (Loss) on Sale		$ (47)
Ending balance	$ 737

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Other Assets

6 Months Ended

Jun. 30, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

(12) OTHER ASSETS

The Company has invested in two flow-through limited liability entities that manage and invest in affordable housing projects that qualify for historic, low-income and elderly housing tax credits. At June 30, 2015, the Company’s total investment in each entity was $422,000 and $1.0 million, respectively. The Company has no future capital commitments to either entity. The amounts recognized in net income for these investments for the three and six month periods below include:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2015		2014		2015		2014
Investment loss included in pre-tax income	$	55		51	$	110		102
Tax credits recognized in provision for income taxes	$	24		20	$	48		40

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Securities (Tables)

6 Months Ended

Jun. 30, 2015

Cash and Cash Equivalents [Abstract]

Amortized Cost of Securities and their Estimated Fair Values

The carrying amount of securities and their estimated fair values at June 30, 2015, were as follows:

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Restricted:
FHLB stock	$	4,428		—		—			4,428
Available for sale
U.S. Treasury securities	$	2,001		10		—			2,011
Agency debt securities		92,585		1,971		(539	)		94,017
Taxable municipal bonds		8,428		150		(78	)		8,500
Tax free municipal bonds		49,143		2,511		(202	)		51,452
Trust preferred securities		1,608		195		—			1,803
Mortgage-backed securities:
GNMA		21,874		252		(124	)		22,002
FNMA		32,733		423		(112	)		33,044
FHLMC		5,657		30		(34	)		5,653
SLMA CMO		3,806		—		(23	)		3,783
AGENCY CMO		25,316		186		(94	)		25,408
	$	243,151		5,728		(1,206	)		247,673

The carrying amount of securities and their estimated fair values at December 31, 2014, was as follows:

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Restricted:
FHLB stock	$	4,428		—		—			4,428
Available for sale
U.S. Treasury securities	$	3,977		3		—			3,980
Agency debt securities		101,654		2,125		(527	)		103,252
Tax free municipal bonds		57,399		3,814		(166	)		61,047
Taxable municipal bonds		11,871		235		(63	)		12,043
Trust preferred securities		1,600		—		(111	)		1,489
Commercial bonds		2,000		7		—			2,007
Mortgage-backed securities:
GNMA		27,535		670		(122	)		28,083
FNMA		50,617		694		(536	)		50,775
FHLMC		3,276		38		—			3,314
SLMA CMO		9,895		—		(252	)		9,643
AGENCY CMO		28,024		176		(205	)		27,995
	$	297,848		7,762		(1,982	)		303,628

Maturities of Debt Securities Available for Sale

The scheduled maturities of debt securities available for sale at June 30, 2015, were as follows:

June 30, 2015	Amortized Cost		Estimated Fair Value
Due within one year	$	4,830	$	4,927
Due in one to five years		16,675		16,972
Due in five to ten years		40,668		41,210
Due after ten years		26,089		27,452
		88,262		90,561
Amortizing agency bonds		65,503		67,222
Mortgage-backed securities		89,386		89,890
Total unrestricted securities available for sale	$	243,151	$	247,673

The scheduled maturities of debt securities available for sale at December 31, 2014, were as follows:

December 31, 2014	Amortized Cost		Estimated Fair Value
Due within one year	$	4,830	$	4,927
Due in one to five years		21,564		21,818
Due in five to ten years		41,683		42,613
Due after ten years		33,119		35,380
		101,196		104,738
Amortizing agency bonds		77,305		79,080
Mortgage-backed securities		119,347		119,810
Total unrestricted securities available for sale	$	297,848	$	303,628

Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments

The estimated fair value and unrealized loss amounts of temporarily impaired investments as of June 30, 2015, are as follows:

	Less than 12 months					12 months or longer					Total
	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
	(Dollars in Thousands)
Available for sale
U.S. Agency debt securities	$	20,573		(172	)		14,473		(367	)		35,046		(539	)
Taxable municipals		2,043		(15	)		2,994		(63	)		5,037		(78	)
Tax free municipals		1,475		(3	)		6,209		(199	)		7,684		(202	)
Mortgage-backed securities:
GNMA		4,954		(38	)		11,177		(86	)		16,131		(124	)
FNMA		7,338		(62	)		3,068		(50	)		10,406		(112	)
FHLMC		2,663		(34	)		—		—			2,663		(34	)
SLMA CMOs		183		(2	)		3,600		(21	)		3,783		(23	)
AGENCY CMOs		8,245		(29	)		1,970		(65	)		10,215		(94	)
Total available for sale	$	47,474		(355	)		43,491		(851	)		90,965		(1,206	)

The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2014, were as follows:

	Less than 12 months					12 months or longer					Total
December 31, 2014	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
Available for sale
U.S. Agency debt securities	$	14,021		(20	)		29,156		(507	)		43,177		(527	)
Taxable municipals		—		—			4,785		(63	)		4,785		(63	)
Tax free municipals		—		—			6,647		(166	)		6,647		(166	)
Trust preferred securities		—		—			1,489		(111	)		1,489		(111	)
Mortgage-backed securities:
GNMA		12,568		(108	)		2,895		(14	)		15,463		(122	)
FNMA		—		—			18,927		(536	)		18,927		(536	)
SLMA CMOs		1,923		(14	)		7,720		(238	)		9,643		(252	)
AGENCY CMOs		9,545		(91	)		7,685		(114	)		17,230		(205	)
Total available for sale	$	38,057		(233	)		79,304		(1,749	)		117,361		(1,982	)

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Real Estate and Other Assets Owned - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015 USD ($)
Banking and Thrift [Abstract]
Minimum book balance for appraisal on all real estate owned	$ 250,000

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Loans - Additional Information (Detail) $ in Thousands			6 Months Ended		12 Months Ended
	Jun. 30, 2015 USD ($) Loans	Dec. 31, 2014 USD ($) Loans	Jun. 30, 2015 USD ($)	Jun. 30, 2014 USD ($)	Dec. 31, 2014 USD ($)
Receivables [Abstract]
Allowance for loan losses	$ 5,534	$ 6,289	$ 5,534	$ 8,400	$ 6,289
Ratio of the allowance for loan losses to total loans			0.99%	1.53%	1.15%
Company's annualized net charge off ratios			0.45%	0.16%	0.02%
Ratios of allowance for loan losses to non-accrual loans	78.40%	198.08%	78.40%	95.60%	198.08%
Annual reviews of loan to ascertain the borrowers continued ability to service			$ 1,000
Loans past due period for classify to risk grade			60 days
Loans past due period for classify to substandard grade			12 months
Total impaired loans Recorded Investment	$ 28,693	$ 37,367	$ 28,693	$ 37,700	$ 37,367
Related Allowance	$ 746	$ 1,514	$ 746	$ 1,500	$ 1,514
Performing loans | Loans	2	2

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Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (117)	$ 925	$ 1,238	$ 1,279
Unrealized gains on securities for which a portion of an other than temporary impairment has been recorded in earnings:
Unrealized holding gains arising during the period			306
Income tax expense			(104)
Other comprehensive income on available for sale for sale securities with other than temporary impairment			202
Unrealized gain (loss) on investment securities available for sale, net of tax effect of $907 and ($1,340) for the three month periods ended June 30, 2015, and June 30, 2014, respectively; and $379 and ($2,260) for the six month periods ended June 30, 2015, and June 30, 2014, respectively;	(1,761)	2,601	(736)	4,387
Unrealized gain on derivatives, net of tax effect of ($32) and ($31) for the three month periods ended June 30, 2015, and June 30, 2014, respectively; and of ($65) and ($56) for the six month periods ending June 30, 2015, and June 30, 2014, respectively;	63	60	127	109
Reclassification adjustment for gains included in net income, net of tax effect of $28 and $82 for the three month periods ended June 30, 2015, and June 30, 2014, respectively; and $153 and $86 the six month periods ended June 30, 2015, and June 30, 2014, respectively;	(54)	(159)	(296)	(168)
Other comprehensive income (loss) on available for sale without other than temporary impairment	(1,752)	2,502	(905)	4,328
Total other comprehensive income (loss)	(1,752)	2,502	(703)	4,328
Comprehensive income (loss)	$ (1,869)	$ 3,427	$ 535	$ 5,607

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Basis of Presentation

6 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

(1) BASIS OF PRESENTATION

HopFed Bancorp, Inc. (the “Company”) was formed at the direction of Heritage Bank USA Inc., formerly Hopkinsville Federal Savings Bank (the “Bank”), to become the holding company of the Bank upon the conversion of the Bank from a federally chartered mutual savings bank to a federally chartered stock savings bank. The conversion was consummated on February 6, 1998. The Company’s primary assets are the outstanding capital stock of the converted Bank, and its sole business is that of the converted Bank.

On June 5, 2013, the Bank’s legal name became Heritage Bank USA Inc. and the Bank was granted a commercial bank charter by the Kentucky Department of Financial Institutions (“KDFI”). On June 5, 2013, the Bank became subject to regulation by the KDFI and the Federal Deposit Insurance Corporation (“FDIC”). On the same day, HopFed Bancorp was granted a bank holding company charter by the Federal Reserve Bank of Saint Louis (“FED”) and as such regulated by the FED.

The Bank operates a mortgage division, Heritage Mortgage Services, in Clarksville, Tennessee with agents located in several of its markets. The Bank has a financial services division, Heritage Solutions, with offices in Murray, Kentucky, Kingston Springs, Tennessee, and Pleasant View, Tennessee. Heritage Wealth Management agents travel throughout western Kentucky and middle Tennessee offering fixed and variable annuities, mutual funds and brokerage services. In October of 2014, the Bank opened a loan production office in Nashville, Tennessee.

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of only normal recurring accruals) necessary for fair representation have been included. The results of operations and other data for the three month period ended June 30, 2015, are not necessarily indicative of results that may be expected for the entire fiscal year ending December 31, 2015.

The accompanying unaudited financial statements should be read in conjunction with the Consolidated Financial Statements and the Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The accounting policies followed by the Company are set forth in the Summary of Significant Accounting Policies in the Company’s December 31, 2014, Consolidated Financial Statements.

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Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Available for sale securities	$ 247,673	$ 303,628
Fair Value, Measurements, Recurring [Member]
Assets
Available for sale securities	247,673	303,628
Liabilities
Interest rate swap	198	390
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets
Available for sale securities	2,010
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Available for sale securities	2,010
Significant Other Observable Inputs (Level 2) [Member]
Assets
Available for sale securities	243,860	302,139
Liabilities
Interest rate swap	198	390
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Available for sale securities	243,860	302,139
Liabilities
Interest rate swap	198	390
Significant Unobservable Inputs (Level 3) [Member]
Assets
Available for sale securities	1,803	1,489
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Available for sale securities	$ 1,803	$ 1,489

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Loans (Tables)

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Components of Loans Receivable in Consolidated Balance Sheets

The components of loans receivable in the consolidated balance sheets as of June 30, 2015, and December 31, 2014, were as follows:

	June 30, 2015			June 30, 2015			December 31, 2014			December 31, 2014
	Amount			Percent			Amount			Percent
	(Dollars in thousands, except percentages)
Real estate loans
One-to-four family (closed end) first mortgages	$	146,285			26.1	%	$	150,551			27.6	%
Second mortgages (closed end)		2,046			0.4	%		2,102			0.4	%
Home equity lines of credit		33,803			6.0	%		34,238			6.3	%
Multi-family		22,580			4.0	%		25,991			4.8	%
Construction		27,072			4.8	%		24,241			4.4	%
Land		24,521			4.4	%		26,654			4.9	%
Farmland		41,224			7.4	%		42,874			7.8	%
Non-residential real estate		160,039			28.5	%		150,596			27.6	%
Total mortgage loans		457,570			81.6	%		457,247			83.8	%
Consumer loans		16,011			2.9	%		14,438			2.6	%
Commercial loans		87,148			15.5	%		74,154			13.6	%
Total other loans		103,159			18.4	%		88,592			16.2	%
Total loans, gross		560,729			100.0	%		545,839			100.0	%
Deferred loan cost, net of income		(389	)					(286	)
Less allowance for loan losses		(5,534	)					(6,289	)
Total loans	$	554,806					$	539,264

Non-accrual Loans

The following table indicates the type and level of non-accrual loans at the periods indicated below:

	June 30, 2015		December 31, 2014		June 30, 2014
	(Dollars in Thousands)
One-to-four family mortgages	$	1,456		1,501		524
Home equity line of credit		48		—		29
Multi-family		1,827		95		—
Land		1,982		215		1,217
Non-residential real estate		520		1,159		6,520
Farmland		209		115		13
Consumer loans		—		—		1
Commercial loans		1,014		90		431
Total non-accrual loans	$	7,056		3,175		8,735

Allowance for Loan Loss Account by Loan

The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the six month period ended June 30, 2015:

Six month period ended June 30, 2015	Balance 12/31/2014		Charge off 2015			Recovery 2015		General Provision 2015			Specific Provision 2015			Ending Balance 6/30/2015
One-to-four family mortgages	$	1,198		(88	)		21		61			(194	)		998
Home equity line of credit		181		(92	)		3		89			15			196
Junior liens		14		—			2		(2	)		(4	)		10
Multi-family		85		—			—		—			(12	)		73
Construction		146		—			—		—			20			166
Land		1,123		(631	)		—		84			597			1,173
Non-residential real estate		2,083		(222	)		2		(73	)		(150	)		1,640
Farmland		461		—			—		—			(94	)		367
Consumer loans		494		(177	)		73		91			(134	)		347
Commercial loans		504		(147	)		16		222			(31	)		564
	$	6,289		(1,357	)		117		472			13			5,534

The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the year ended December 31, 2014:

Year ended December 31, 2014	Balance 12/31/2013		Charge off 2014			Recovery 2014		General Provision 2014			Specific Provision 2014			Ending Balance 12/31/2014
One-to-four family mortgages	$	2,048		(233	)		24		(304	)		(337	)		1,198
Home equity line of credit		218		(83	)		3		(37	)		80			181
Junior liens		39		—			9		(25	)		(9	)		14
Multi-family		466		—			—		(381	)		—			85
Construction		88		(139	)		9		58			130			146
Land		1,305		—			—		(74	)		(108	)		1,123
Non-residential real estate		2,719		(66	)		864		(1,368	)		(66	)		2,083
Farmland		510		—			—		542			(591	)		461
Consumer loans		541		(415	)		109		(13	)		272			494
Commercial loans		748		(296	)		94		(244	)		202			504
	$	8,682		(1,232	)		1,112		(1,846	)		(427	)		6,289

Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing

The table below presents loan balances at June 30, 2015, by loan classification allocated between past due, performing and non-performing:

			30 – 89						Impaired Loans
	Currently		Days		Non-accrual		Special		Currently Performing
June 30, 2015	Performing		Past Due		Loans		Mention		Substandard		Doubtful		Total
	(Dollars in Thousands)
One-to-four family mortgages	$	142,987		398		1,456		42		1,402		—		146,285
Home equity line of credit		33,113		69		48		—		573		—		33,803
Junior liens		1,992		—		—		38		16		—		2,046
Multi-family		17,818		140		1,827		1,655		1,140		—		22,580
Construction		26,972		100		—		—		—		—		27,072
Land		14,425		—		1,982		44		8,070		—		24,521
Non-residential real estate		149,565		162		520		640		9,152		—		160,039
Farmland		40,143		168		209		681		23		—		41,224
Consumer loans		15,790		13		—		14		194		—		16,011
Commercial loans		84,772		126		1,014		169		1,067		—		87,148
Total	$	527,577		1,176		7,056		3,283		21,637		—		560,729

The table below presents loan balances at December 31, 2014, by loan classification allocated between past due, performing and non-performing:

			30 - 89						Impaired Loans
	Currently		Days		Non-accrual		Special		Currently Performing
	Performing		Past Due		Loans		Mention		Substandard		Doubtful		Total
One-to-four family mortgages	$	145,372		757		1,501		203		2,718		—		150,551
Home equity line of credit		33,338		143		—		—		757		—		34,238
Junior liens		2,025		—		—		40		37		—		2,102
Multi-family		20,066		—		95		2,904		2,926		—		25,991
Construction		24,241		—		—		—		—		—		24,241
Land		14,674		654		215		362		10,749		—		26,654
Non-residential real estate		131,854		—		1,159		5,492		12,091		—		150,596
Farmland		40,057		64		115		516		2,122		—		42,874
Consumer loans		14,104		14		—		21		299		—		14,438
Commercial loans		71,191		55		90		325		2,493		—		74,154
Total	$	496,922		1,687		3,175		9,863		34,192		—		545,839

Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method

The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of June 30, 2015, and December 31, 2014, by portfolio segment and based on the impairment method as of June 30, 2015, and December 31, 2014.

	Commercial		Land Development / Construction		Commercial Real Estate		Residential Real Estate		Consumer		Total
June 30, 2015:
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	91		116		445		46		48	$	746
Collectively evaluated for impairment		473		1,223		1,635		1,158		299		4,788
Total ending allowance balance	$	564		1,339		2,080		1,204		347	$	5,534
Loans:
Loans individually evaluated for impairment	$	2,081		10,052		12,871		3,495		194	$	28,693
Loans collectively evaluated for impairment		85,067		41,541		210,972		178,639		15,817		532,036
Total ending loans balance	$	87,148		51,593		223,843		182,134		16,011	$	560,729
	Commercial		Land Development / Construction		Commercial Real Estate		Residential Real Estate		Consumer		Total
December 31, 2014:
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	—		663		738		51		62	$	1,514
Collectively evaluated for impairment		504		606		1,891		1,342		432		4,775
Total ending allowance balance	$	504		1,269		2,629		1,393		494	$	6,289
Loans:
Loans individually evaluated for impairment	$	2,583		10,964		18,508		5,013		299	$	37,367
Loans collectively evaluated for impairment		71,571		39,931		200,953		181,878		14,139		508,472
Total ending loans balance	$	74,154		50,895		219,461		186,891		14,438	$	545,839

Loans by Classification Type and Related Allowance Amounts

At June 30, 2015, December 31, 2014 and June 30, 2014, the Company’s specific reserve for impaired loans totaled $746,000, $1.5 million and $1.5 million respectively. Loans by classification type and the related allowance amounts at June 30, 2015, are as follows:

											Specific		Reserve
											Reserve		for
			Special		Impaired Loans						for		Performing
June 30, 2015	Pass		Mention		Substandard		Doubful		Total		Impairment		Loans
	(Dollars in Thousands)
One-to-four family mortgages	$	143,385		42		2,858		—		146,285		46		952
Home equity line of credit		33,182		—		621		—		33,803		—		196
Junior liens		1,992		38		16		—		2,046		—		10
Multi-family		17,958		1,655		2,967		—		22,580		—		73
Construction		27,072		—		—		—		27,072		—		166
Land		14,425		44		10,052		—		24,521		116		1,057
Non-residential real estate		149,727		640		9,672		—		160,039		445		1,195
Farmland		40,311		681		232		—		41,224		—		367
Consumer loans		15,803		14		194		—		16,011		48		299
Commercial loans		84,898		169		2,081		—		87,148		91		473
Total	$	528,753		3,283		28,693		—		560,729		746		4,788
Loans by classification type and the related valuation allowance amounts at December 31, 2014, are as follows:
			Special		Impaired Loans						Specific Allowance for		Allowance For Loans
	Pass		Mention		Substandard		Doubtful		Total		Impairment		Not Impaired
December 31, 2014
One-to-four family mortgages	$	146,129		203		4,219		—		150,551		51		1,147
Home equity line of credit		33,481		—		757		—		34,238		—		181
Junior lien		2,025		40		37		—		2,102		—		14
Multi-family		20,066		2,904		3,021		—		25,991		—		85
Construction		24,241		—		—		—		24,241		—		146
Land		15,328		362		10,964		—		26,654		663		460
Non-residential real estate		131,854		5,492		13,250		—		150,596		738		1,345
Farmland		40,121		516		2,237		—		42,874		—		461
Consumer loans		14,118		21		299		—		14,438		62		432
Commercial loans		71,246		325		2,583		—		74,154		—		504
Total	$	498,609		9,863		37,367		—		545,839		1,514		4,775

Impaired Loans by Classification Type

Impaired loans by classification type and the related valuation allowance amounts at June 30, 2015, were as follows:

							For the three month period ended
	At June 30, 2015						June 30, 2015
			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
Impaired loans with no recorded reserve
One-to-four family mortgages	$	2,148		2,175		—		2,408		11
Home equity line of credit		621		621		—		693		—
Junior liens		16		16		—		18		—
Multi-family		2,967		2,967		—		2,982		34
Construction		—		—		—		—		—
Land		9,456		10,087		—		8,376		20
Farmland		232		232		—		237		—
Non-residential real estate		8,949		8,949		—		9,580		18
Consumer loans		3		3		—		5		—
Commercial loans		1,727		1,727		—		1,607		21
Total		26,119		26,777		—		25,906		104
Impaired loans with a specific allowance:
One-to-four family mortgages		710		710		46		712		—
Home equity line of credit		—		—		—		—		—
Junior liens		—		—		—		—		—
Multi-family		—		—		—		—		—
Construction		—		—		—		—		—
Land		596		596		116		2,009		—
Farmland		—		—		—		—		—
Non-residential real estate		723		723		445		952		—
Consumer loans		191		191		48		185		—
Commercial loans		354		354		91		529		16
Total		2,574		2,574		746		4,387		16
Total impaired loans	$	28,693		29,351		746		30,293		120

Impaired loans by classification type and the related valuation allowance amounts at December 31, 2014, were as follows:

							For the year ended
	At December 31, 2014						December 31, 2014
			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
Impaired loans with no specific allowance
One-to-four family mortgages	$	3,501		3,501		—		2,972		176
Home equity line of credit		757		757		—		690		35
Junior liens		37		37		—		39		2
Multi-family		3,021		3,021		—		1,342		190
Construction		—		—		—		29		—
Land		7,740		7,740		—		8,978		339
Non-residential real estate		12,057		12,057		—		8,672		669
Farmland		2,237		2,237				3,968		125
Consumer loans		51		51		—		36		3
Commercial loans		2,583		2,583		—		2,246		154
Total		31,984		31,984		—		28,972		1,693
Impaired loans with a specific allowance
One-to-four family mortgages	$	718		718		51		1,434		44
Home equity line of credit		—		—		—		—		—
Junior liens		—		—		—		—		—
Multi-family		—		—		—		—		—
Construction		—		—		—		—		—
Land		3,224		4,737		663		3,418		160
Non-residential real estate		1,193		1,258		738		3,617		69
Farmland		—		—		—		619		—
Consumer loans		248		248		62		355		—
Commercial loans		—		—		—		100		—
Total		5,383		6,961		1,514		9,543		273
Total impaired loans	$	37,367		38,945		1,514		38,515		1,966

Summary of the Activity in Loans Classified as TDRs

A summary of the activity in loans classified as TDRs for the six month period ended June 30, 2015, is as follows:

	Balance at 12/31/14		New TDR		Loss or Foreclosure		Transferred to Held For Sale		Removed from (Taken to) Non-accrual		Balance at 6/30/15
	(Dollars in Thousands)
Non-residential real estate	$	3,284		—		—		—		—		3,284
Total performing TDR	$	3,284		—		—		—		—		3,284

A summary of the activity in loans classified as TDRs for the twelve month period ended December 31, 2014, is as follows:

	Balance at 12/31/13		New TDR		Loss or Foreclosure		Transferred to Held For Sale			Removed from (Taken to) Non-accrual		Balance at 12/31/14
	(Dollars in Thousands)
One-to-four family mortgages	$	—		—		—		—			—	$	—
Non-residential real estate		—		10,271		—		(6,987	)		—		3,284
Commercial loans		—		—		—		—			—		—
Total performing TDR	$	—		10,271		—		(6,987	)		—	$	3,284

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Securities - Amortized Cost of Securities and their Estimated Fair Values (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
FHLB stock	$ 4,428	$ 4,428
Amortized Cost	243,151	297,848
Gross Unrealized Gains	5,728	7,762
Gross Unrealized Losses	(1,206)	(1,982)
Estimated Fair Value	247,673	303,628
Estimated Fair Value, Less than 12 months	47,474	38,057
Unrealized Losses, Less than 12 months	(355)	(233)
Estimated Fair Value, 12 months or longer	43,491	79,304
Unrealized Losses, 12 months or longer	(851)	(1,749)
Estimated Fair Value	90,965	117,361
Unrealized Losses	(1,206)	(1,982)
Restricted [Member]
Schedule of Available-for-sale Securities [Line Items]
FHLB stock	4,428	4,428
FHLB stock	4,428	4,428
U.S. Treasury Securities [Member] | Available for Sale Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,001	3,977
Gross Unrealized Gains	10	3
Estimated Fair Value	2,011	3,980
Agency CMO [Member] | Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25,316	28,024
Gross Unrealized Gains	186	176
Gross Unrealized Losses	(94)	(205)
Estimated Fair Value	25,408	27,995
Agency CMO [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, Less than 12 months	8,245	9,545
Unrealized Losses, Less than 12 months	(29)	(91)
Estimated Fair Value, 12 months or longer	1,970	7,685
Unrealized Losses, 12 months or longer	(65)	(114)
Estimated Fair Value	10,215	17,230
Unrealized Losses	(94)	(205)
Tax Free Municipals Bonds [Member] | Available for Sale Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	49,143	57,399
Gross Unrealized Gains	2,511	3,814
Gross Unrealized Losses	(202)	(166)
Estimated Fair Value	51,452	61,047
Tax Free Municipals Bonds [Member] | U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, Less than 12 months	1,475
Unrealized Losses, Less than 12 months	(3)
Estimated Fair Value, 12 months or longer	6,209	6,647
Unrealized Losses, 12 months or longer	(199)	(166)
Estimated Fair Value	7,684	6,647
Unrealized Losses	(202)	(166)
Taxable Municipals Bonds [Member] | Available for Sale Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	8,428	11,871
Gross Unrealized Gains	150	235
Gross Unrealized Losses	(78)	(63)
Estimated Fair Value	8,500	12,043
Taxable Municipals Bonds [Member] | U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, Less than 12 months	2,043
Unrealized Losses, Less than 12 months	(15)
Estimated Fair Value, 12 months or longer	2,994	4,785
Unrealized Losses, 12 months or longer	(63)	(63)
Estimated Fair Value	5,037	4,785
Unrealized Losses	(78)	(63)
Trust Preferred Securities [Member] | Available for Sale Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,608	1,600
Gross Unrealized Gains	195
Gross Unrealized Losses		(111)
Estimated Fair Value	1,803	1,489
Trust Preferred Securities [Member] | U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, 12 months or longer		1,489
Unrealized Losses, 12 months or longer		(111)
Estimated Fair Value		1,489
Unrealized Losses		(111)
GNMA [Member] | Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	21,874	27,535
Gross Unrealized Gains	252	670
Gross Unrealized Losses	(124)	(122)
Estimated Fair Value	22,002	28,083
GNMA [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, Less than 12 months	4,954	12,568
Unrealized Losses, Less than 12 months	(38)	(108)
Estimated Fair Value, 12 months or longer	11,177	2,895
Unrealized Losses, 12 months or longer	(86)	(14)
Estimated Fair Value	16,131	15,463
Unrealized Losses	(124)	(122)
FNMA [Member] | Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	32,733	50,617
Gross Unrealized Gains	423	694
Gross Unrealized Losses	(112)	(536)
Estimated Fair Value	33,044	50,775
FNMA [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, Less than 12 months	7,338
Unrealized Losses, Less than 12 months	(62)
Estimated Fair Value, 12 months or longer	3,068	18,927
Unrealized Losses, 12 months or longer	(50)	(536)
Estimated Fair Value	10,406	18,927
Unrealized Losses	(112)	(536)
FHLMC [Member] | Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	5,657	3,276
Gross Unrealized Gains	30	38
Gross Unrealized Losses	(34)
Estimated Fair Value	5,653	3,314
FHLMC [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, Less than 12 months	2,663
Unrealized Losses, Less than 12 months	(34)
Estimated Fair Value	2,663
Unrealized Losses	(34)
SLMA CMO [Member] | Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,806	9,895
Gross Unrealized Losses	(23)	(252)
Estimated Fair Value	3,783	9,643
SLMA CMO [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, Less than 12 months	183	1,923
Unrealized Losses, Less than 12 months	(2)	(14)
Estimated Fair Value, 12 months or longer	3,600	7,720
Unrealized Losses, 12 months or longer	(21)	(238)
Estimated Fair Value	3,783	9,643
Unrealized Losses	(23)	(252)
Agency Debt Securities [Member] | Available for Sale Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	92,585	101,654
Gross Unrealized Gains	1,971	2,125
Gross Unrealized Losses	(539)	(527)
Estimated Fair Value	94,017	103,252
Agency Debt Securities [Member] | U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value, Less than 12 months	20,573	14,021
Unrealized Losses, Less than 12 months	(172)	(20)
Estimated Fair Value, 12 months or longer	14,473	29,156
Unrealized Losses, 12 months or longer	(367)	(507)
Estimated Fair Value	35,046	43,177
Unrealized Losses	$ (539)	(527)
Commercial Bonds [Member] | Available for Sale Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		2,000
Gross Unrealized Gains		7
Estimated Fair Value		$ 2,007

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Income Taxes

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

(11) INCOME TAXES

The Company and its subsidiaries file consolidated federal income tax returns and Tennessee excise tax returns. The Company and its non-bank subsidiaries filed consolidated Kentucky income tax returns. The Bank is exempt from Kentucky corporate income tax. The Company has no unrecognized tax benefits and has accrued any interest or penalties for uncertain tax positions. The effective tax rate differs from the statutory federal rate of 34% and Tennessee excise rate of 6.50% due to investments in qualified municipal securities; bank owned life insurance, income apportioned to Kentucky and certain non-deductible expenses.