Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2016 | Sep. 14, 2016 | Dec. 31, 2015 | |
Document Information [Line Items] | |||
Entity Registrant Name | CONSUMERS BANCORP INC /OH/ | ||
Entity Central Index Key | 1,006,830 | ||
Trading Symbol | cbkm | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 2,727,322 | ||
Entity Public Float | $ 34,089,755 | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
ASSETS: | ||
Cash on hand and noninterest-bearing deposits in financial institutions | $ 8,164 | $ 8,028 |
Federal funds sold and interest-bearing deposits in financial institutions | 2,017 | 2,516 |
Total cash and cash equivalents | 10,181 | 10,544 |
Certificate of deposits in financial institutions | 5,906 | 4,470 |
Securities, available-for-sale | 133,369 | 137,144 |
Securities, held-to-maturity (fair value 2016 $3,619 and 2015 $3,722) | 3,494 | 3,655 |
Federal bank and other restricted stocks, at cost | 1,396 | 1,396 |
Loans held for sale | 1,048 | 462 |
Total loans | 256,278 | 228,519 |
Less allowance for loan losses | (3,566) | (2,432) |
Net loans | 252,712 | 226,087 |
Cash surrender value of life insurance | 6,819 | 6,626 |
Premises and equipment, net | 13,585 | 11,605 |
Accrued interest receivable and other assets | 1,880 | 1,978 |
Total assets | 430,390 | 403,967 |
LIABILITIES: | ||
Non-interest bearing demand | 98,224 | 86,651 |
Interest bearing demand | 48,810 | 45,320 |
Savings | 134,606 | 134,664 |
Time | 65,008 | 66,361 |
Total deposits | 346,648 | 332,996 |
Short-term borrowings | 19,129 | 19,838 |
Federal Home Loan Bank advances | 17,281 | 6,240 |
Accrued interest payable and other liabilities | 3,539 | 3,427 |
Total liabilities | 386,597 | 362,501 |
Commitments and contingent liabilities | ||
SHAREHOLDERS’ EQUITY: | ||
Preferred stock, no par value; 350,000 shares authorized | ||
Common shares, no par value; 3,500,000 shares authorized; 2,854,133 shares issued as of June 30, 2016 and 2015 | 14,630 | 14,630 |
Retained earnings | 28,432 | 27,589 |
Treasury stock, at cost (130,375 and 130,064 common shares at June 30, 2016 and 2015, respectively) | (1,658) | (1,652) |
Accumulated other comprehensive income | 2,389 | 899 |
Total shareholders’ equity | 43,793 | 41,466 |
Total liabilities and shareholders’ equity | $ 430,390 | $ 403,967 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Held-to-maturity securities, fair value | $ 3,619 | $ 3,722 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 350,000 | 350,000 |
Common shares, par value (in dollars per share) | $ 0 | $ 0 |
Common shares, shares authorized (in shares) | 3,500,000 | 3,500,000 |
Common shares, shares issued (in shares) | 2,854,133 | 2,854,133 |
Treasury stock, shares (in shares) | 130,375 | 130,064 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income: | ||
Loans, including fees | $ 11,211 | $ 11,034 |
Federal funds sold and interest-bearing deposits in financial institutions | 117 | 73 |
Securities, taxable | 1,880 | 1,887 |
Securities, tax-exempt | 1,399 | 1,363 |
Total interest and dividend income | 14,607 | 14,357 |
Interest expense: | ||
Deposits | 679 | 736 |
Interest Expense, Short-term Borrowings | 39 | 31 |
Federal Home Loan Bank advances | 184 | 182 |
Total interest expense | 902 | 949 |
Net interest income | 13,705 | 13,408 |
Provision for loan losses | 1,498 | 430 |
Net interest income after provision for loan losses | 12,207 | 12,978 |
Other income: | ||
Service charges on deposit accounts | 1,269 | 1,229 |
Debit card interchange income | 948 | 916 |
Bank owned life insurance income | 193 | 183 |
Gain on sale of mortgage loans | 186 | 231 |
Securities gains, net | 202 | 160 |
Gain on disposition of other real estate owned | 2 | 30 |
Other | 188 | 225 |
Total other income | 2,988 | 2,974 |
Other expenses: | ||
Salaries and employee benefits | 6,933 | 6,831 |
Occupancy and equipment | 1,612 | 1,456 |
Data processing expenses | 578 | 573 |
Professional and director fees | 447 | 438 |
Federal Deposit Insurance Corporation assessments | 268 | 226 |
Franchise taxes | 334 | 315 |
Marketing and advertising | 302 | 248 |
Loan and collection expenses | 197 | 125 |
Telephone and communications | 321 | 288 |
Debit card processing expenses | 463 | 462 |
Other | 1,314 | 1,314 |
Total other expenses | 12,769 | 12,276 |
Income before income taxes | 2,426 | 3,676 |
Income tax expense | 279 | 718 |
Net income | $ 2,147 | $ 2,958 |
Basic earnings per share (in dollars per share) | $ 0.79 | $ 1.09 |
Diluted earnings per share (in dollars per share) | $ 0.79 | $ 1.08 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | ||
Net income | $ 2,147 | $ 2,958 | |
Net change in unrealized gains (losses): | |||
Unrealized gains (loss) arising during the period | 2,460 | (421) | |
Reclassification adjustment for gains included in income | [1],[2] | (202) | (160) |
Net unrealized gain (loss) | 2,258 | (581) | |
Income tax effect | (768) | 197 | |
Other comprehensive income (loss) | 1,490 | (384) | |
Total comprehensive income | $ 3,637 | $ 2,574 | |
[1] | Income tax expense | ||
[2] | Securities gain, net |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Jun. 30, 2014 | $ 14,630 | $ 25,940 | $ (1,650) | $ 1,283 | $ 40,203 |
Net income | 2,958 | 2,958 | |||
Other comprehensive loss | (384) | (384) | |||
Dividend reinvestment plan shares associated with expired and forfeited restricted stock awards retired to treasury | 2 | (2) | |||
Cash dividends declared ($0.48 per share) | (1,311) | (1,311) | |||
Balance at Jun. 30, 2015 | 14,630 | 27,589 | (1,652) | 899 | 41,466 |
Net income | 2,147 | 2,147 | |||
Other comprehensive loss | 1,490 | 1,490 | |||
Dividend reinvestment plan shares associated with expired and forfeited restricted stock awards retired to treasury | 6 | (6) | |||
Cash dividends declared ($0.48 per share) | (1,310) | (1,310) | |||
Balance at Jun. 30, 2016 | $ 14,630 | $ 28,432 | $ (1,658) | $ 2,389 | $ 43,793 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Common Stock [Member] | ||
Dividend Reinvestment Plan and Restricted Award Forfeited and Expired (in shares) | 311 | 189 |
Retained Earnings [Member] | ||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.48 | $ 0.48 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 2,147 | $ 2,958 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation | 647 | 575 |
Securities amortization and accretion, net | 1,092 | 1,009 |
Provision for loan losses | 1,498 | 430 |
Loss on disposal of fixed assets | 7 | |
Gain on disposition of other real estate owned | (2) | (30) |
Net gain on sale of loans | (186) | (231) |
Deferred income tax benefit | (142) | (22) |
Gain on sale of securities | (202) | (160) |
Origination of loans held for sale | (13,495) | (16,590) |
Proceeds from loans held for sale | 13,095 | 16,918 |
Increase in cash surrender value of life insurance | (193) | (183) |
Change in other assets and other liabilities | (415) | 932 |
Net cash flows from operating activities | 3,851 | 5,606 |
Securities available-for-sale: | ||
Purchases | (29,739) | (55,352) |
Maturities, calls and principal pay downs | 24,285 | 27,047 |
Proceeds from sales of available-for-sale securities | 10,596 | 16,124 |
Securities held-to-maturity: | ||
Purchases | (780) | |
Principal pay downs | 161 | 125 |
Net increase in certificates of deposit with other financial institutions | (1,436) | (1,767) |
Net increase in loans | (28,161) | (3,956) |
Purchase of Bank owned life insurance | (476) | |
Acquisition of premises and equipment | (2,634) | (5,467) |
Proceeds from sale of other real estate owned | 40 | 234 |
Net cash flows from investing activities | (26,888) | (24,268) |
Cash flows from financing activities: | ||
Net increase in deposit accounts | 13,652 | 19,099 |
Proceeds from Federal Home Loan advances | 16,300 | 8,500 |
Repayments of FHLB advances | (5,259) | (8,556) |
Change in short-term borrowings | (709) | 349 |
Dividends paid | (1,310) | (1,311) |
Net cash flows from financing activities | 22,674 | 18,081 |
Decrease in cash and cash equivalents | (363) | (581) |
Cash and cash equivalents, beginning of year | 10,544 | 11,125 |
Cash and cash equivalents, end of year | 10,181 | 10,544 |
Supplemental disclosures of cash flow information: | ||
Interest | 903 | 952 |
Federal income taxes paid | 725 | 735 |
Noncash transactions: | ||
Transfer from loans to repossessed assets | 38 | |
Expired and forfeited dividend reinvestment plan shares associated with restricted stock awards that were retired to treasury stock | $ 6 | $ 2 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation: Nature of Operations: primary market area of Carroll, Columbiana, Stark, Summit, Wayne and contiguous counties in Ohio. The Bank’s business involves attracting deposits from businesses and individual customers and using such deposits to originate commercial, mortgage and consumer loans in its primary market area. Business Segment Information: Use of Estimates: Cash Flows: Interest–Bearing Deposits in Other Financial Institutions Certificate s of Deposit in Financial Institutions: Cash Reserves: Securities: Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (OTTI) at least on a quarterly basis and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. Federal Bank and Other Restricted Stocks: Loans Held for Sale Loans: Interest income on commercial, commercial real estate and 1-4 family residential loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in the process of collection. Consumer loans are typically charged off no later than 120 days past due. Past due status is determined by the contractual terms of the loan. In all cases, loans are placed on non-accrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not received on loans placed on non-accrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when the customer has exhibited the ability to repay and demonstrated this ability over at least a consecutive six month period and future payments are reasonably assured. Loan Commitments and Related Financial Instruments: Concentrations of Credit Risk: Allowance for Loan Losses: The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-classified loans and is based on historical loss experience adjusted for current factors. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans, for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is evaluated collectively for smaller-balance loans of similar nature such as residential mortgage, consumer loans and on an individual loan basis for other loans. If a loan is impaired, a portion of the allowance is allocated so the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected from the collateral. Loans are evaluated for impairment when payments are delayed, typically 90 days or more, or when it is probable that not all principal and interest amounts will be collected according to the original terms of the loan. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective interest rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Corporation determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Corporation over the most recent three year period. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: Commercial: Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Current and projected cash flows are evaluated to determine the ability of the borrower to repay their obligations as agreed. Commercial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and usually incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. The commercial loan portfolio includes loans to a wide variety of corporations and businesses across many industrial classifications in the areas where the Bank operates. Commercial Real Estate: 1-4 Family Residential Real Estate Consumer Other Real Estate Owned: Transfers of Financial Assets: Premises and Equipment: Cash Surrender Value of Life Insurance: Long-term Assets: Repurchase Agreements: Retirement Plan: Income Taxes: Earnings per Common Share: Stock-Based Compensation: Comprehensive Income: Loss Contingencies: Fair Value of Financial Instruments: Dividend Restrictions: Reclassifications: Recently Issued Accounting Pronouncements Not Yet Effective: In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) Leases Leases statements. In June 2016, FASB Issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Note 2 - Securities
Note 2 - Securities | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2—SECURITIES The following table summarizes the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at June 30, 2016 and 2015 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses: Available-for-sale Amortized Gross Gains Gross Losses Fair June 30, 2016 Obligations of U.S. government-sponsored entities and agencies $ 9,682 $ 362 $ — $ 10,044 Obligations of state and political subdivisions 53,952 2,010 (8 ) 55,954 U.S. Government-sponsored mortgage-backed securities - residential 58,702 920 (26 ) 59,596 U.S. Government-sponsored mortgage-backed securities - commercial 1,485 41 — 1,526 U.S. Government-sponsored collateralized mortgage obligations - residential 5,774 49 (3 ) 5,820 Pooled trust preferred security 153 276 — 429 Total available-for-sale securities $ 129,748 $ 3,658 $ (37 ) $ 133,369 Held-to-maturity Amortized Gross Gains Gross Losses Fair June 30, 2016 Obligations of state and political subdivisions $ 3,494 $ 125 $ — $ 3,619 Total held-to-maturity securities $ 3,494 $ 125 $ — $ 3,619 Available-for-sale Amortized Gross Gains Gross Losses Fair June 30, 2015 Obligations of U.S. government-sponsored entities and agencies $ 16,411 $ 178 $ (31 ) $ 16,558 Obligations of state and political subdivisions 48,557 811 (405 ) 48,963 U.S. Government-sponsored mortgage-backed securities - residential 64,441 699 (226 ) 64,914 U.S. Government-sponsored mortgage-backed securities - commercial 1,485 1 — 1,486 U.S. Government-sponsored collateralized mortgage obligations - residential 4,703 14 (34 ) 4,683 Pooled trust preferred security 184 356 — 540 Total available-for-sale securities $ 135,781 $ 2,059 $ (696 ) $ 137,144 Held-to-maturity Amortized Gross Gains Gross Losses Fair June 30, 2015 Obligations of state and political subdivisions $ 3,655 $ 67 $ — $ 3,722 Total held-to-maturity securities $ 3,655 $ 67 $ — $ 3,722 Proceeds from sales and calls of available-for-sale securities during fiscal year 2016 and fiscal year 2015 were as follows: 2016 201 5 Proceeds from sales $ 10,596 $ 16,124 Gross realized gains 202 283 Gross realized losses — 123 The income tax provision applicable to realized gains amounted to $69 in fiscal year 2016 and $96 in fiscal year 2015. There was no tax benefit recognized from gross realized losses in 2016 and the income tax benefit applicable to the net realized losses was $42 for June 30, 2015. The amortized cost and fair values of debt securities at June 30, 2016 by expected maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, collateralized mortgage obligations and the pooled trust preferred security are shown separately. Available-for-sale Amortized Cost Fair Value Due in one year or less $ 5,906 $ 6,040 Due after one year through five years 14,602 15,194 Due after five years through ten years 25,276 26,256 Due after ten years 17,850 18,508 Total 63,634 65,998 U.S. Government-sponsored mortgage-backed and related securities 65,961 66,942 Pooled trust preferred security 153 429 Total $ 129,748 $ 133,369 Held-to-maturity Amortized Cost Fair Value Due after five years through ten years $ 2,820 $ 2,914 Due after ten years 674 705 Total $ 3,494 $ 3,619 Securities with a carrying value of approximately $55,140 and $59,805 were pledged at June 30, 2016 and 2015, respectively, to secure public deposits and commitments as required or permitted by law. At June 30, 2016 and 2015, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, with an aggregate book value greater than 10% of shareholders’ equity. The following table summarizes the securities with unrealized and unrecognized losses at June 30, 2016 and 2015, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position: Less than 12 Months 12 Months or more Total Available-for-sale Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2016 Obligations of states and political subdivisions 572 (6 ) 641 (2 ) 1,213 (8 ) Mortgage-backed securities - residential 4,899 (12 ) 4,836 (14 ) 9,735 (26 ) Collateralized mortgage obligations - residential — — 1,212 (3 ) 1,212 (3 ) Total available-for-sale $ 5,471 $ (18 ) $ 6,689 $ (19 ) $ 12,160 $ (37 ) Less than 12 Months 12 Months or more Total Available-for-sale Fair Unrealized Fair Unrealized Fair Unrealized June 30, 201 5 Obligations of U.S. government-sponsored entities and agencies $ 3,719 $ (31 ) $ — $ — $ 3,719 $ (31 ) Obligations of states and political subdivisions 18,796 (352 ) 2,145 (53 ) 20,941 (405 ) Mortgage-backed securities - residential 24,322 (200 ) 2,031 (26 ) 26,353 (226 ) Collateralized mortgage obligations - residential 3,321 (34 ) — — 3,321 (34 ) Total available-for-sale $ 50,158 $ (617 ) $ 4,176 $ (79 ) $ 54,334 $ (696 ) Management evaluates securities for other-than-temporary impairment (OTTI) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The securities portfolio is evaluated for OTTI by segregating the portfolio into two general segments and applying the appropriate OTTI model. Investment securities are generally evaluated for OTTI under FASB ASC Topic 320, Accounting for Certain Investments in Debt and Equity Securities In determining OTTI under the ASC Topic 320 model, management considers many factors, including: (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, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. As of June 30, 2016, the Corporation’s securities portfolio consisted of 245 available-for-sale securities. There were 16 securities in an unrealized loss position at June 30, 2016, nine of which were in a continuous loss position for twelve or more months. The unrealized losses of the obligations of states and political subdivisions were mainly attributable to the spreads for these types of securities being wider at June 30, 2016 than when these securities were purchased. Management monitors the financial data of the individual municipalities to ensure they meet minimum credit standards. At June 30, 2016, all of the mortgage-backed securities and collateralized mortgage obligations held by the Corporation were issued by U.S. government-sponsored entities and agencies, primarily Fannie Mae, Freddie Mac and Ginnie Mae, institutions which the government has affirmed its commitment to support. The decline in fair value of these securities is attributable to higher than projected prepayment speeds increasing the premium amortization. Since the Corporation does not intend to sell these securities and it is not likely the Corporation will be required to sell these securities at an unrealized loss position prior to any anticipated recovery in fair value, which may be maturity, management does not believe there is any other-than-temporary impairment related to these securities at June 30, 2016. Also, there was no other-than-temporary impairment recognized at June 30, 2015. |
Note 3 - Loans
Note 3 - Loans | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3—LOANS Major classifications of loans were as follows as of June 30: 2016 2015 Commercial $ 43,207 $ 32,155 Commercial real estate: Construction 7,783 1,295 Other 153,097 143,680 1 – 4 Family residential real estate: Owner occupied 31,012 30,027 Non-owner occupied 14,471 14,555 Construction 1,256 234 Consumer 5,812 6,965 Subtotal 256,638 228,911 Less: Deferred loan fees and costs (360 ) (392 ) Allowance for loan losses (3,566 ) (2,432 ) Net loans $ 252,712 $ 226,087 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table presents the activity in the allowance for loan losses by portfolio segment for the year ending June 30, 2016: 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 316 $ 1,660 $ 289 $ 167 $ 2,432 Provision for loan losses 189 862 414 33 1,498 Loans charged-off — (4 ) (311 ) (80 ) (395 ) Recoveries — — 10 21 31 Total ending allowance balance $ 505 $ 2,518 $ 402 $ 141 $ 3,566 The following table presents the activity in the allowance for loan losses by portfolio segment for the year ending June 30, 2015: 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 307 $ 1,440 $ 294 $ 364 $ 2,405 Provision for loan losses 26 532 36 (164 ) 430 Loans charged-off (17 ) (313 ) (43 ) (78 ) (451 ) Recoveries — 1 2 45 48 Total ending allowance balance $ 316 $ 1,660 $ 289 $ 167 $ 2,432 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2016. Included in the recorded investment in loans is $549 of accrued interest receivable net of deferred loans fees and costs of $360. 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 868 $ 6 $ — $ 874 Collectively evaluated for impairment 505 1,650 396 141 2,692 Total ending allowance balance $ 505 $ 2,518 $ 402 $ 141 $ 3,566 Recorded investment in loans: Loans individually evaluated for impairment $ 1,029 $ 5,105 $ 758 $ — $ 6,892 Loans collectively evaluated for impairment 42,219 155,734 46,166 5,816 249,935 Total ending loans balance $ 43,248 $ 160,839 $ 46,924 $ 5,816 $ 256,827 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2015. Included in the recorded investment in loans is $501 of accrued interest receivable net of deferred loans fees and costs of $392. 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 58 $ 12 $ — $ 70 Collectively evaluated for impairment 316 1,602 277 167 2,362 Total ending allowance balance $ 316 $ 1,660 $ 289 $ 167 $ 2,432 Recorded investment in loans: Loans individually evaluated for impairment $ — $ 2,786 $ 615 $ — $ 3,401 Loans collectively evaluated for impairment 32,210 142,139 44,304 6,966 225,619 Total ending loans balance $ 32,210 $ 144,925 $ 44,919 $ 6,966 $ 229,020 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table presents information related to loans individually evaluated for impairment by class of loans as of and for the year ended June 30, 2016: Unpaid Allowance for Average Interest Cash Basis Principal Recorded Loan Losses Recorded Income Interest Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial $ 1,033 $ 1,029 $ — $ 95 $ — $ — Commercial real estate: Construction 386 384 — 52 — — Other 2,121 2,106 — 2,344 — — 1-4 Family residential real estate: Owner occupied 175 174 — 357 2 2 Non-owner occupied 722 407 — 435 — — With an allowance recorded: Commercial real estate: Other 2,802 2,615 868 1,103 8 8 1-4 Family residential real estate: Owner occupied 177 177 6 149 — — Non-owner occupied — — — 115 — — Total $ 7,416 $ 6,892 $ 874 $ 4,650 $ 10 $ 10 The following table presents information related to loans individually evaluated for impairment by class of loans as of and for the year ended June 30, 2015: Unpaid Allowance for Average Interest Cash Basis Principal Recorded Loan Losses Recorded Income Interest Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial real estate: Other $ 2,432 $ 2,082 $ — $ 1,844 $ 145 $ 145 1-4 Family residential real estate: Owner occupied 58 35 — 187 34 34 Non-owner occupied — — — 48 15 15 With an allowance recorded: Commercial real estate: Other 740 704 58 761 36 36 1-4 Family residential real estate: Owner occupied 122 123 4 125 7 7 Non-owner occupied 512 457 8 483 19 19 Total $ 3,864 $ 3,401 $ 70 $ 3,448 $ 256 $ 256 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table presents the recorded investment in non-accrual and loans past due over 90 days still on accrual by class of loans as of June 30, 2016 and 2015: June 30, 2016 June 30, 2015 Loans Past Due Loans Past Due Over 90 Days Over 90 Days Still Still Non-accrual Accruing Non-accrual Accruing Commercial $ 1,009 $ — $ — $ — Commercial real estate: Construction 384 — — — Other 4,000 — 2,079 — 1 – 4 Family residential: Owner occupied 234 — 190 — Non-owner occupied 407 — — — Consumer — — — — Total $ 6,034 $ — $ 2,269 $ — Non-accrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The following table presents the aging of the recorded investment in past due loans as of June 30, 2016 by class of loans: Days Past Due 30 - 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ 123 $ — $ — $ 123 $ 43,125 $ 43,248 Commercial real estate: Construction — — — — 7,764 7,764 Other 59 — 2,110 2,169 150,906 153,075 1-4 Family residential: Owner occupied 15 — 218 233 30,947 31,180 Non-owner occupied — — 196 196 14,278 14,474 Construction — — — — 1,270 1,270 Consumer 7 — — 7 5,809 5,816 Total $ 204 $ — $ 2,524 $ 2,728 $ 254,099 $ 256,827 The above table of past due loans includes the recorded investment in non-accrual loans of $2,524 in the 90 days or greater category and $3,510 in the loans not past due category. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table presents the aging of the recorded investment in past due loans as of June 30, 2015 by class of loans: Days Past Due 30 - 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ 25 $ — $ 25 $ 32,185 $ 32,210 Commercial real estate: Construction — — — — 1,270 1,270 Other 62 — 30 92 143,563 143,655 1-4 Family residential: Owner occupied 268 68 139 475 29,654 30,129 Non-owner occupied — 8 — 8 14,547 14,555 Construction — — — — 235 235 Consumer 17 — — 17 6,949 6,966 Total $ 347 $ 101 $ 169 $ 617 $ 228,403 $ 229,020 The above table of past due loans includes the recorded investment in non-accrual loans of $169 in the 90 days or greater category and $2,100 in the loans not past due category. Troubled Debt Restructurings: As of June 30, 2016, the recorded investment of loans classified as troubled debt restructurings was $3,529 with $43 of specific reserves allocated to these loans. As of June 30, 2015, the recorded investment of loans classified as troubled debt restructurings was $1,335 with $70 of specific reserves allocated to these loans. During the fiscal year ended June 30, 2016, the terms of certain loans to one borrower were modified as troubled debt restructurings. The modification of the terms of such loans included a combination of a reduction in the monthly payment amounts, an extension of the maturity date on one loan, and the extension of additional credit to provide operating funds to the borrower. The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended June 30, 2016: Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Loans Investment Investment Commercial 3 $ 1,058 $ 1,029 Commercial real estate: Other 3 1,294 1,487 Total 6 $ 2,352 $ 2,516 The troubled debt restructurings described above did not increase the allowance for loan losses or result in any charge-offs during the twelve months ended June 30, 2016. As of June 30, 2016, the Corporation had committed to lend an additional $207 as part of the restructuring described above. There were no loans classified as troubled debt restructurings that were modified within the last twelve months for which there was a payment default. During the fiscal year ended June 30, 2015, there were no loan modifications completed that were classified as troubled debt restructurings nor had the Corporation committed to lend any additional amounts to customers with outstanding loans that were classified as troubled debt restructurings. There was no increase to the allowance for loan losses or any charge offs from troubled debt restructurings during the twelve month period ended June 30, 2015. There were no loans classified as troubled debt restructurings for which there was a payment default during the 2015 fiscal year. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Credit Quality Indicators: The Corporation categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes loans individually by classifying the loans as to credit risk. This analysis includes loans with a total outstanding loan relationship greater than $100 thousand and non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a monthly basis. The Corporation uses the following definitions for risk ratings: Special Mention. Substandard. Doubtful. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are either less than $100 thousand or are included in groups of homogeneous loans. These loans are evaluated based on delinquency status, which was discussed previously. As of June 30, 2016, and based on the most recent analysis performed, the recorded investment by risk category of loans by class of loans is as follows: Special Not Pass Mention Substandard Doubtful Rated Commercial $ 35,243 $ 6,190 $ 1,162 $ — $ 653 Commercial real estate: Construction 7,305 — 384 — 75 Other 144,101 2,482 4,026 2,150 316 1-4 Family residential real estate: Owner occupied 3,506 72 349 47 27,206 Non-owner occupied 12,999 406 486 196 387 Construction 235 — — — 1,035 Consumer 210 — 6 — 5,600 Total $ 203,599 $ 9,150 $ 6,413 $ 2,393 $ 35,272 As of June 30, 2015, and based on the most recent analysis performed, the recorded investment by risk category of loans by class of loans is as follows: Special Not Pass Mention Substandard Doubtful Rated Commercial $ 27,359 $ 4,030 $ 96 $ — $ 725 Commercial real estate: Construction 1,224 — 46 — — Other 133,452 4,473 2,876 2,032 822 1-4 Family residential real estate: Owner occupied 4,029 — — 35 26,065 Non-owner occupied 12,602 475 1,025 — 453 Construction 235 — — — — Consumer — — — — 6,966 Total $ 178,901 $ 8,978 $ 4,043 $ 2,067 $ 35,031 The Bank has granted loans to certain of its executive officers, directors and their affiliates. A summary of activity during the year ended June 30, 2016 of related party loans were as follows: Principal balance, July 1 $ 4,520 New loans 577 Repayments (373 ) Principal balance, June 30 $ 4,724 |
Note 4 - Premises and Equipment
Note 4 - Premises and Equipment | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4— PREMISES AND EQUIPMENT Major classifications of premises and equipment were as follows as of June 30: 2016 2015 Land $ 1,469 $ 1,469 Land improvements 317 406 Building and leasehold improvements 11,978 11,391 Furniture, fixture and equipment 4,694 4,853 Total premises and equipment 18,458 18,119 Accumulated depreciation and amortization (4,873 ) (6,514 ) Premises and equipment, net $ 13,585 $ 11,605 Included in Building and Leasehold improvements above was $6,453 of construction in progress as of June 30, 2015 related to construction of the Corporation’s main office and branch location. The new facility was placed in service in the 2016 fiscal year. There is currently a lawsuit pending between the building contractor and the design builder, in which the Bank has also been named, that could result in the Corporation incurring additional capitalized costs. Management does not expect the additional costs to be material. Depreciation expense was $647 and $575 for the years ended June 30, 2016 and 2015, respectively. The Corporation is obligated under non-cancelable operating leases for facilities and equipment. The approximate minimum annual rentals and commitments under these non-cancelable agreements and leases with remaining terms in excess of one year are as follows: Twelve Months Ending June 30 2017 $ 113 2018 84 2019 40 2020 40 2021 18 Total $ 295 Rent expense incurred was $159 and $134 during the years ended June 30, 2016 and 2015, respectively. |
Note 5 - Deposits
Note 5 - Deposits | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 5—DEPOSITS The aggregate amount of time deposits, each with a minimum denomination of $250 thousand was $14,176 and $14,719 as of June 30, 2016 and 2015, respectively. Scheduled maturities of time deposits at June 30, 2016 were as follows: Twelve Months Ending June 30 2017 $ 34,735 2018 14,547 2019 7,266 2020 4,517 2021 2,989 Thereafter 954 $ 65,008 Related party deposits totaled $5,386 as of June 30, 2016 and $6,115 as of June 30, 2015. |
Note 6 - Short-term Borrowings
Note 6 - Short-term Borrowings | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 6—SHORT-TERM BORROWINGS Short-term borrowings consisted of repurchase agreements and Federal fund purchased. Securities sold under agreements to repurchase are utilized to facilitate the needs of our customers. Physical control is maintained for all securities pledged to secure repurchase agreements. Information concerning all short-term borrowings at June 30, 2016 and 2015, maturing in less than one year is summarized as follows: 201 6 201 5 Balance at June 30 $ 19,129 $ 19,838 Average balance during the year 21,196 18,281 Maximum month-end balance 25,759 21,583 Average interest rate during the year 0.18 % 0.17 % Weighted average rate, June 30 0.20 % 0.16 % The remaining contractual maturity of repurchase agreements in the consolidated balance sheets as of June 30, 2016 and 2015 is presented in the following table. Overnight and Continuous 2016 2015 U.S. government-sponsored entities and agencies pledged $ 2,066 $ 4,313 Residential mortgage-backed securities pledged 16,864 16,301 Collateralized mortgage obligations pledged 1,510 1,658 Total pledged $ 20,440 $ 22,272 Repurchase agreements $ 19,129 $ 19,838 Total interest expense on short-term borrowings was $39 and $31 for the years ended June 30, 2016 and 2015, respectively. |
Note 7 - Federal Home Loan Bank
Note 7 - Federal Home Loan Bank Advances | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 7—FEDERAL HOME LOAN BANK ADVANCES A summary of Federal Home Loan Bank (FHLB) advances were as follows: Advance Type Maturity Term Interest Rate Balance Balance Interest-only, single maturity 10/09/2015 Fixed 1.43 % $ — $ 500 Interest only, single maturity 07/01/2016 Fixed 0.51 7,600 — Interest only, single maturity 07/05/2016 Fixed 0.43 2,000 — Interest-only, single maturity 10/12/2017 Fixed 2.07 500 500 Interest-only, putable 12/07/2017 Fixed 3.24 5,000 5,000 Principal and interest, mortgage matched 04/01/2019 Fixed 4.30 181 240 Interest only, single maturity 01/18/2019 Fixed 1.16 2,000 — $ 17,281 $ 6,240 Each fixed rate advance has a prepayment penalty equal to the present value of 100% of the lost cash flow based upon the difference between the contract rate on the advance and the current rate on a comparable new advance. The $5 million putable advance with the maturity date of December 7, 2017 can be called quarterly until maturity at the option of the FHLB, with the next call option being September 7, 2016. The following table is a summary of the scheduled principal payments for all advances: Twelve Months Ending June 30 Principal 2017 $ 9,667 2018 5,564 2019 2,050 Total $ 17,281 Pursuant to collateral agreements with the FHLB, advances are secured by all the stock invested in the FHLB and certain qualifying first mortgage loans. The advances were collateralized by $28,085 and $29,143 of first mortgage loans under a blanket lien arrangement at June 30, 2016 and 2015, respectively. Based on this collateral and the Corporation’s holdings of FHLB stock, the Bank was eligible to borrow up to a total of $2,439 in additional advances at June 30, 2016. |
Note 8 - Employee Benefit Plans
Note 8 - Employee Benefit Plans | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | NOTE 8—EMPLOYEE BENEFIT PLANS The Bank maintains a 401(k) savings and retirement plan that permits eligible employees to make before- or after-tax contributions to the plan, subject to the dollar limits from Internal Revenue Service regulations. The Bank matches 100% of the employee’s voluntary contributions to the plan based on the amount of each participant’s contributions up to a maximum of 4% of eligible compensation. All regular full-time and part-time employees who complete six months of service and are at least 21 years of age are eligible to participate. Amounts charged to operations were $181 and $166, for the years ended June 30, 2016 and 2015, respectively. The Bank has adopted a Salary Continuation Plan (the Plan) to encourage Bank executives to remain employees of the Bank. The Plan provides such executives (and, in the event of the executive’s death, surviving beneficiary) with 180 months of salary continuation payments equal to a certain percentage of an executive’s average compensation, as defined within each agreement, for the three full calendar years prior to Normal Retirement Age. For purposes of the Plan, “Normal Retirement Age” means the executive’s 65th birthday. Vesting under the Plan commences at age 50 and is prorated until age 65. If an executive dies during active service, the executive’s beneficiary is entitled to the Normal Retirement Benefit. The executive can become fully vested in the Accrual Balance upon termination of employment following a disability or a change in control of the Bank. For purposes of the Plan, “Accrual Balance” means the liability that should be accrued by the Corporation for the Corporation’s obligation to the executive under the Plan. For purposes of calculating the Accrual Balance, the discount rate in effect at June 30, 2016 and 2015 was 4.5%. The accrued liability for the salary continuation plan was $2,020 as of June 30, 2016 and $1,893 as of June 30, 2015. For the years ended June 30, 2016 and 2015, $191 and $217, respectively, have been charged to expense in connection with the Plan. Distributions to participants were $64 and $46 for the years ending June 30, 2016 and 2015, respectively. The 2010 Omnibus Incentive Plan (2010 Plan) is a nonqualified share based compensation plan. The 2010 Plan was established to promote alignment between key employee’s performance and the Corporation’s shareholder interests by motivating performance through the award of stock-based compensation. The 2010 Plan is intended to attract, retain and motivate talented employees and as a means to compensate outside directors for their service to the Corporation. The 2010 Plan has been approved by the Corporation’s shareholders. The Compensation Committee of the Corporation’s Board of Directors has sole authority to select the employees, establish the awards to be issued, and approve the terms and conditions of each award contract. Under the 2010 Plan, the Corporation may grant, among other things, nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, or any combination thereof to any employee and outside director. Each award is evidenced by an award agreement that specifies the number of shares awarded, the vesting period, the performance requirements, and such other provisions as the Compensation Committee determines. Upon a change-in-control of the Corporation, as defined in the 2010 Plan, all outstanding awards immediately vest. The Corporation has granted restricted stock awards to certain employees and directors. Restricted stock awards are issued at no cost to the recipient, and can be settled only in shares at the end of the vesting period. Over a four-year period, a portion of these awards vest on each anniversary date of the award if certain specified net income performance targets as established by the Compensation Committee are achieved. Restricted stock awards provide the holder with full voting rights and dividends during the vesting period. Cash dividends are reinvested into shares of stock and are subject to the same restrictions and vesting as the initial award. All dividends are forfeitable in the event the shares do not vest. The fair value of the restricted stock awards, which is used to measure compensation expense, is the closing market price of the Corporation’s common stock on the date of the grant and compensation expense is recognized over the vesting period of the awards. Restricted stock awarded during the period presented vest under a graduated schedule over a four-year period. The following table summarizes the status of the restricted stock awards: Restricted Stock Awards Weighted-Average Grant Date Fair Value Per Share Outstanding at June 30, 2015 7,543 $ 14.40 Expired (3,266 ) 13.19 Forfeited (713 ) 15.28 Non-vested at June 30, 2016 3,564 15.33 Expired on September 22, 2016 (2,135 ) 15.05 Non-vested at September 22, 2016 1,429 $ 15.75 There was no expense recognized in the 2015 and 2016 fiscal years in connection with the restricted stock awards since grants scheduled to vest expired due to not meeting the performance targets. As of June 30, 2016, there was $23 of total unrecognized compensation costs, subject to meeting performance targets, related to non-vested shares granted under the 2010 Plan. The cost is expected to be recognized during the 2017 fiscal year if the performance target is achieved. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 9—INCOME TAXES The provision for income taxes consists of the following for the years ended June 30: 2016 2015 Current income taxes $ 421 $ 740 Deferred income tax expense (benefit) (142 ) (22 ) $ 279 $ 718 The net deferred income tax asset consists of the following components at June 30: 2016 2015 Deferred tax assets: Allowance for loan losses $ 1,082 $ 704 Deferred compensation 721 707 Recognized loss on impairment of security 265 265 AMT credit carryforward 143 — Deferred income 140 — OREO deferred gain 13 14 Non-accrual loan interest income 72 65 Gross deferred tax asset 2,436 1,755 Deferred tax liabilities: Depreciation (761 ) (223 ) Loan fees (279 ) (248 ) Prepaid expenses (91 ) (121 ) FHLB stock dividends (166 ) (166 ) Net unrealized securities gain (1,231 ) (463 ) Gross deferred tax liabilities (2,528 ) (1,221 ) Net deferred asset (liability) $ (92 ) $ 534 The difference between the provision for income taxes and amounts computed by applying the statutory income tax rate of 34% to statutory income before taxes consists of the following for the years ended June 30: 2016 2015 Income taxes computed at the statutory rate on pretax income $ 825 $ 1,250 Tax exempt income (491 ) (483 ) Cash surrender value income (65 ) (62 ) Other 10 13 $ 279 $ 718 At June 30, 2016 and June 30, 2015, the Corporation had no unrecognized tax benefits recorded. The Corporation does not expect the total amount of unrecognized tax benefits to significantly increase within the next twelve months. There were no interest or penalties recorded for the years ended June 30, 2016 and 2015 and there were no amounts accrued for interest and penalties at June 30, 2016 and 2015. The Corporation and the Bank are subject to U.S. federal income tax as an income-based tax and a capital-based franchise tax in the state of Ohio. The Corporation and the Bank are no longer subject to examination by taxing authorities for years before 2012. |
Note 10 - Regulatory Matters
Note 10 - Regulatory Matters | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 10—REGULATORY MATTERS The Bank is subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective-action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the financial statements. Management believes as of June 30, 2016, the Bank has met all capital adequacy requirements to which it is subject. The prompt corrective action regulations provide five classifications, including well capitalized, adequately capitalized, under-capitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and plans for capital restoration are required. As of fiscal year-end 2016 and 2015, the Corporation met the definition of a small bank holding company and, therefore, was exempt from consolidated risk-based and leverage capital adequacy guidelines for bank holding companies. The Basel III Capital Rules became effective for the Bank on January 1, 2015 and certain provisions are subject to a phase-in period. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and will be phased in over a four -year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). The Basel III Capital Rules also provide for a “countercyclical capital buffer” that is applicable to only certain covered institutions and does not have any current applicability to the Bank. The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 capital to risk-weighted assets above the minimum but below the conservation buffer (or below the combined capital conservation buffer and countercyclical capital buffer, when the latter is applied) will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. The following table presents actual and required capital ratios as of June 30, 2016 for the Bank under the Basel III Capital Rules. The minimum required capital amounts presented include the minimum required capital levels as of June 30, 2016 based on the phase-in provisions of the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Actual Minimum Capital Required - Minimum Required Amount Ratio Amount Ratio Amount Ratio June 30, 2016 Common equity Tier 1 to risk-weighted assets Bank $ 39.4 13.37 % $ 15.1 5.125 % $ 19.1 6.50 % Tier 1 capital to risk weighted assets Bank 39.4 13.37 19.5 6.625 23.6 8.00 Total Capital to risk weighted assets Bank 42.9 14.58 25.4 8.625 29.4 10.00 Tier 1 capital to average assets Bank 39.4 9.25 17.0 4.00 21.3 5.00 The following table presents actual and required capital ratios as of June 30, 2015 for the Bank under the regulatory capital rules then in effect. Actual Minimum Capital Required - Minimum Required Amount Ratio Amount Ratio Amount Ratio June 30, 2015 Common equity Tier 1 to risk-weighted assets Bank $ 38.5 14.4 % $ 12.0 4.5 % $ 17.4 6.5 % Tier 1 capital to risk weighted assets Bank 38.5 14.4 16.1 6.0 21.4 8.0 Total Capital to risk weighted assets Bank 41.0 15.3 21.4 8.0 26.8 10.0 Tier 1 capital to average assets Bank 38.5 9.5 16.2 4.0 20.2 5.0 As of the latest regulatory examination, the Bank was categorized as well capitalized. There are no conditions or events since that examination that management believes may have changed the Bank’s category. The Corporation’s principal source of funds for dividend payment is dividends received from the Bank. Banking regulations limit the amount of dividends that may be paid without prior approval of regulatory agencies. Under these regulations, the amount of dividends that may be paid in any calendar year is limited to the current year’s net profits, combined with the retained net profits of the preceding two years, subject to the capital requirements described above. As of June 30, 2016 the Bank could, without prior approval, declare a dividend of approximately $3,515. |
Note 11 - Commitments with Off-
Note 11 - Commitments with Off-balance Sheet Risk | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Commitments with Off-Balance Sheet Risk Disclosure [Text Block] | NOTE 11—COMMITMENTS WITH OFF-BALANCE SHEET RISK The Bank is a party to commitments to extend credit in the normal course of business to meet the financing needs of its customers. Commitments are agreements to lend to customers providing there are no violations of any condition established in the contract. Commitments to extend credit have a fixed expiration date or other termination clause. These instruments involve elements of credit and interest rate risk more than the amount recognized in the statements of financial position. The Bank uses the same credit policies in making commitments to extend credit as it does for on-balance sheet instruments. The Bank evaluates each customer’s credit on a case by case basis. The amount of collateral obtained is based on management’s credit evaluation of the customer. The amount of commitments to extend credit and the exposure to credit loss for non-performance by the customer was $46,696 and $43,135 as of June 30, 2016 and 2015, respectively. Of the June 30, 2016 commitments, $44,228 carried variable rates of interest ranging from 2.00% to 7.50% and $2,468 carried fixed rates of interest ranging from 3.10% to 5.99%. Of the June 30, 2015 commitments, $36,502 carried variable rates of interest ranging from 2.00% to 7.25% and $6,633 carried fixed rates of interest ranging from 2.25% to 6.00%. Financial standby letters of credit were $1,032 as of June 30, 2016 and $890 as of June 30, 2015. In addition, commitments to extend credit of $7,829 and $7,676 as of June 30, 2016 and 2015, respectively, were available to checking account customers related to the overdraft protection program. Since some loan commitments expire without being used, the amount does not necessarily represent future cash commitments. |
Note 12 - Fair Value
Note 12 - Fair Value | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 12—FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Level 2: Level 3: Financial assets and financial liabilities measured at fair value on a recurring basis include the following: Securities available-for-sale: Assets and liabilities measured at fair value on a recurring basis are summarized below, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Fair Value Measurements at June 30, 2016 Using Balance at June 30, 2016 Level 1 Level 2 Level 3 Assets: Securities available-for-sale: Obligations of government-sponsored entities $ 10,044 $ — $ 10,044 $ — Obligations of states and political subdivisions 55,954 — 55,954 — Mortgage-backed securities - residential 59,596 — 59,596 — Mortgage-backed securities - commercial 1,526 — 1,526 — Collateralized mortgage obligations 5,820 — 5,820 — Pooled trust preferred security 429 — 429 — Fair Value Measurements at June 30, 2015 Using Balance at June 30, 2015 Level 1 Level 2 Level 3 Securities available-for-sale: Obligations of government-sponsored entities $ 16,558 $ — $ 16,558 $ — Obligations of states and political subdivisions 48,963 — 48,963 — Mortgage-backed securities - residential 64,914 — 64,914 — Mortgage-backed securities - commercial 1,486 — 1,486 — Collateralized mortgage obligations 4,683 — 4,683 — Pooled trust preferred security 540 — 540 — There were no transfers between Level 1 and Level 2 during the 2015 or the 2016 fiscal year. Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Financial assets and financial liabilities measured at fair value on a non-recurring basis include the following: Impaired Loans: Financial assets and financial liabilities measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2016 Using Balance at June 30, 2016 Level 1 Level 2 Level 3 Impaired loans: Commercial Real Estate - Other $ 1,206 $ — $ — $ 1,206 1-4 Family residential real estate – Non-owner occupied 197 — — 197 Fair Value Measurements at June 30, 2015 Using Balance at June 30, 2015 Level 1 Level 2 Level 3 Impaired loans: Commercial Real Estate - Other $ 1,983 $ — $ — $ 1,983 Impaired loans, which are generally measured for impairment using the fair value of the collateral for collateral dependent loans, had a recorded investment of $2,150, with a valuation allowance of $747 at June 30, 2016. The resulting impact to the provision for loan losses was an increase of $1,010 being recorded for the year ended June 30, 2016. Impaired loans, which are generally measured for impairment using the fair value of the collateral for collateral dependent loans, had a principal balance of $1,983, with no valuation allowance at June 30, 2015. The resulting impact to the provision for loan losses was an increase of $313 being recorded for the year ended June 30, 2015. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2016: Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Impaired loans: Commercial Real Estate – Other $ 459 Settlement Contract N/A 0.0% 0.0% Commercial Real Estate – Other $ 127 Bid Indications N/A 0.0% 0.0% Commercial Real Estate – Other $ 620 Bid Indications N/A 0.0% 0.0% 1-4 Family residential real estate – Non-owner occupied $ 197 Bid Indications N/A 0.0% 0.0% The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2015: Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Impaired loans: Commercial Real Estate – Other $ 733 Income approach Liquidation adjustment for distressed sales -40.0% -40.0% Commercial Real Estate – Other $ 125 Cost approach Liquidation adjustment for distressed sales -40.0% -40.0% Commercial Real Estate – Other $ 1,121 Sales comparison approach Adjustment for differences between comparable sales 82.9% to -71.6% -11.7% Commercial Real Estate – Other $ 4 Settlement Contract Adjustment for difference between loan balance and settlement value -91.8% -91.8% The valuation technique used by an independent third party appraiser in the fair value measurement of collateral for collateral-dependent commercial real estate impaired loans consisted of the sales comparison approach. The significant unobservable inputs used in the fair value measurement relate to any adjustment made to the value set forth in the appraisal due to a distressed sale situation. The following table shows the estimated fair values of financial instruments that are reported at amortized cost in the Corporation’s consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: 2016 2015 Carrying Estimated Carrying Estimated Financial Assets: Level 1 inputs: Cash and cash equivalents $ 10,181 $ 10,181 $ 10,544 $ 10,544 Level 2 inputs: Certificates of deposits in other financial institutions 5,906 5,906 4,470 4,456 Loans held for sale 1,048 1,067 462 468 Accrued interest receivable 1,077 1,077 1,035 1,035 Level 3 inputs: Securities held-to-maturity 3,494 3,619 3,655 3,722 Loans, net 252,712 253,155 226,087 226,915 Financial Liabilities: Level 2 inputs: Demand and savings deposits 281,640 281,640 266,635 266,635 Time deposits 65,008 65,111 66,361 66,498 Short-term borrowings 19,129 19,129 19,838 19,838 Federal Home Loan Bank advances 17,281 17,486 6,240 6,537 Accrued interest payable 40 40 41 41 The assumptions used to estimate fair value are described as follows: Cash and cash equivalents: Certificates of deposits in other financial institutions: Accrued interest receivable and payable, demand and savings deposits and short-term borrowings Loans held for sale: Loans: Securities held-to-maturity: The fair value of these securities are calculated using a spread to the applicable municipal fair market curve resulting in a Level 3 classification. Time deposits: Federal Home Loan Bank advances: Federal bank and other restricted stocks, at cost: Off-balance sheet commitments: |
Note 13 - Parent Company Financ
Note 13 - Parent Company Financial Statements | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 13—PARENT COMPANY FINANCIAL STATEMENTS Condensed financial information of Consumers Bancorp. Inc. (parent company only) follows: June 30, June 30, Condensed Balance Sheets Assets Cash $ 46 $ 54 Securities, available-for-sale 2,050 1,986 Other assets 50 15 Investment in subsidiary 41,708 39,421 Total assets $ 43,854 $ 41,476 Liabilities Other liabilities $ 61 $ 10 Shareholders’ equity 43,793 41,466 Total liabilities & shareholders’ equity $ 43,854 $ 41,476 Year Ended Year Ended Condensed Statements of Income and Comprehensive Income Cash dividends from Bank subsidiary $ 1,425 $ 1,360 Other income 46 45 Other expense 206 224 Income before income taxes and equity in undistributed net income of subsidiary 1,265 1,181 Income tax benefit (50 ) (57 ) Income before equity in undistributed net income of Bank subsidiary 1,315 1,238 Equity in undistributed net income of subsidiary 832 1,720 Net income $ 2,147 $ 2,958 Comprehensive income $ 3,637 $ 2,574 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Condensed Statements of Cash Flows Year Ended Year Ended Cash flows from operating activities Net income $ 2,147 $ 2,958 Equity in undistributed net income of Bank subsidiary (832 ) (1,720 ) Securities amortization and accretion, net (11 ) — Change in other assets and liabilities (2 ) 31 Net cash flows from operating activities 1,302 1,269 Cash flows from investing activities Purchases of available-for-sale securities — (739 ) Maturities, calls and principal pay downs of available-for-sale securities — 750 Net cash flows from investing activities — 11 Cash flows from financing activities Dividend paid (1,310 ) (1,311 ) Net cash flows from financing activities (1,310 ) (1,311 ) Change in cash and cash equivalents (8 ) (31 ) Beginning cash and cash equivalents 54 85 Ending cash and cash equivalents $ 46 $ 54 |
Note 14 - Earnings Per Share
Note 14 - Earnings Per Share | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 14 – EARNINGS PER SHARE Basic earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period and is equal to net income divided by the weighted average number of shares outstanding during the period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares that may be issued upon the vesting of restricted stock awards. The following table details the calculation of basic and diluted earnings per share: For the year Ended June 30, 2016 2015 Basic: Net income available to common shareholders $ 2,147 $ 2,958 Weighted average common shares outstanding 2,725,276 2,726,304 Basic income per share $ 0.79 $ 1.09 Diluted: Net income available to common shareholders $ 2,147 $ 2,958 Weighted average common shares outstanding 2,725,276 2,726,304 Dilutive effect of restricted stock 103 273 Total common shares and dilutive potential common shares 2,725,379 2,726,577 Dilutive income per share $ 0.79 $ 1.08 |
Note 15 - Accumulated Other Com
Note 15 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 15 –ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The components of other comprehensive income related to unrealized gains and losses on available-for-sale securities for the periods ended June 30, 2016 and June 30, 2015, were as follows: Pretax Tax Effect After-tax Affected Line Item in Consolidated Statements of Income Balance as of June 30, 201 4 $ 1,944 $ (661 ) $ 1,283 Unrealized holding loss on available-for-sale securities arising during the period (421 ) 143 (278 ) Amounts reclassified from accumulated other comprehensive income (160 ) 54 (106 ) (a)(b) Net current period other comprehensive loss (581 ) 197 (384 ) Balance as of June 30, 2015 1,363 (464 ) 899 Unrealized holding gain on available-for-sale securities arising during the period 2,460 (837 ) 1,623 Amounts reclassified from accumulated other comprehensive income (202 ) 69 (133 ) (a)(b) Net current period other comprehensive gain 2,258 (768 ) 1,490 Balance as of June 30, 2016 $ 3,621 $ (1,232 ) $ 2,389 (a) Securities gain, net (b) Income tax expense |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation: |
Nature of Operations [Policy Text Block] | Nature of Operations: primary market area of Carroll, Columbiana, Stark, Summit, Wayne and contiguous counties in Ohio. The Bank’s business involves attracting deposits from businesses and individual customers and using such deposits to originate commercial, mortgage and consumer loans in its primary market area. |
Segment Reporting, Policy [Policy Text Block] | Business Segment Information: |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Flows: |
Interest Bearing Deposits in Other Financial Institutions [Policy Text Block] | Interest–Bearing Deposits in Other Financial Institutions |
Certificate of Deposits in Financial Institutions [Policy Text Block] | Certificate s of Deposit in Financial Institutions: |
Cash Reserves [Policy Text Block] | Cash Reserves: |
Marketable Securities, Policy [Policy Text Block] | Securities: Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (OTTI) at least on a quarterly basis and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. |
Federal Home Loan Bank FHLB Stock [Policy Text Block] | Federal Bank and Other Restricted Stocks: |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale |
Policy Loans Receivable, Policy [Policy Text Block] | Loans: Interest income on commercial, commercial real estate and 1-4 family residential loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in the process of collection. Consumer loans are typically charged off no later than 120 days past due. Past due status is determined by the contractual terms of the loan. In all cases, loans are placed on non-accrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not received on loans placed on non-accrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when the customer has exhibited the ability to repay and demonstrated this ability over at least a consecutive six month period and future payments are reasonably assured. |
Loan Commitments, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments: |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk: |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses: The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-classified loans and is based on historical loss experience adjusted for current factors. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans, for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is evaluated collectively for smaller-balance loans of similar nature such as residential mortgage, consumer loans and on an individual loan basis for other loans. If a loan is impaired, a portion of the allowance is allocated so the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected from the collateral. Loans are evaluated for impairment when payments are delayed, typically 90 days or more, or when it is probable that not all principal and interest amounts will be collected according to the original terms of the loan. Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective interest rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Corporation determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Corporation over the most recent three year period. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: Commercial: Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Current and projected cash flows are evaluated to determine the ability of the borrower to repay their obligations as agreed. Commercial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and usually incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. The commercial loan portfolio includes loans to a wide variety of corporations and businesses across many industrial classifications in the areas where the Bank operates. Commercial Real Estate: 1-4 Family Residential Real Estate Consumer |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | Other Real Estate Owned: |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets: |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment: |
Cash Surrender Value of Life Insurance [Policy Text Block] | Cash Surrender Value of Life Insurance: |
Long-term Assets [Policy Text Block] | Long-term Assets: |
Repurchase and Resale Agreements Policy [Policy Text Block] | Repurchase Agreements: |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Retirement Plan: |
Income Tax, Policy [Policy Text Block] | Income Taxes: |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Common Share: |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation: |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income: |
Malpractice Loss Contingency, Policy [Policy Text Block] | Loss Contingencies: |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments: |
Dividend Restrictions [Policy Text Block] | Dividend Restrictions: |
Reclassification, Policy [Policy Text Block] | Reclassifications: |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements Not Yet Effective: In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) Leases Leases statements. In June 2016, FASB Issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Available-for-sale Amortized Gross Gains Gross Losses Fair June 30, 2016 Obligations of U.S. government-sponsored entities and agencies $ 9,682 $ 362 $ — $ 10,044 Obligations of state and political subdivisions 53,952 2,010 (8 ) 55,954 U.S. Government-sponsored mortgage-backed securities - residential 58,702 920 (26 ) 59,596 U.S. Government-sponsored mortgage-backed securities - commercial 1,485 41 — 1,526 U.S. Government-sponsored collateralized mortgage obligations - residential 5,774 49 (3 ) 5,820 Pooled trust preferred security 153 276 — 429 Total available-for-sale securities $ 129,748 $ 3,658 $ (37 ) $ 133,369 Held-to-maturity Amortized Gross Gains Gross Losses Fair June 30, 2016 Obligations of state and political subdivisions $ 3,494 $ 125 $ — $ 3,619 Total held-to-maturity securities $ 3,494 $ 125 $ — $ 3,619 Available-for-sale Amortized Gross Gains Gross Losses Fair June 30, 2015 Obligations of U.S. government-sponsored entities and agencies $ 16,411 $ 178 $ (31 ) $ 16,558 Obligations of state and political subdivisions 48,557 811 (405 ) 48,963 U.S. Government-sponsored mortgage-backed securities - residential 64,441 699 (226 ) 64,914 U.S. Government-sponsored mortgage-backed securities - commercial 1,485 1 — 1,486 U.S. Government-sponsored collateralized mortgage obligations - residential 4,703 14 (34 ) 4,683 Pooled trust preferred security 184 356 — 540 Total available-for-sale securities $ 135,781 $ 2,059 $ (696 ) $ 137,144 Held-to-maturity Amortized Gross Gains Gross Losses Fair June 30, 2015 Obligations of state and political subdivisions $ 3,655 $ 67 $ — $ 3,722 Total held-to-maturity securities $ 3,655 $ 67 $ — $ 3,722 |
Schedule of Realized Gain (Loss) [Table Text Block] | 2016 201 5 Proceeds from sales $ 10,596 $ 16,124 Gross realized gains 202 283 Gross realized losses — 123 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-sale Amortized Cost Fair Value Due in one year or less $ 5,906 $ 6,040 Due after one year through five years 14,602 15,194 Due after five years through ten years 25,276 26,256 Due after ten years 17,850 18,508 Total 63,634 65,998 U.S. Government-sponsored mortgage-backed and related securities 65,961 66,942 Pooled trust preferred security 153 429 Total $ 129,748 $ 133,369 Held-to-maturity Amortized Cost Fair Value Due after five years through ten years $ 2,820 $ 2,914 Due after ten years 674 705 Total $ 3,494 $ 3,619 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 Months 12 Months or more Total Available-for-sale Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2016 Obligations of states and political subdivisions 572 (6 ) 641 (2 ) 1,213 (8 ) Mortgage-backed securities - residential 4,899 (12 ) 4,836 (14 ) 9,735 (26 ) Collateralized mortgage obligations - residential — — 1,212 (3 ) 1,212 (3 ) Total available-for-sale $ 5,471 $ (18 ) $ 6,689 $ (19 ) $ 12,160 $ (37 ) Less than 12 Months 12 Months or more Total Available-for-sale Fair Unrealized Fair Unrealized Fair Unrealized June 30, 201 5 Obligations of U.S. government-sponsored entities and agencies $ 3,719 $ (31 ) $ — $ — $ 3,719 $ (31 ) Obligations of states and political subdivisions 18,796 (352 ) 2,145 (53 ) 20,941 (405 ) Mortgage-backed securities - residential 24,322 (200 ) 2,031 (26 ) 26,353 (226 ) Collateralized mortgage obligations - residential 3,321 (34 ) — — 3,321 (34 ) Total available-for-sale $ 50,158 $ (617 ) $ 4,176 $ (79 ) $ 54,334 $ (696 ) |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2016 2015 Commercial $ 43,207 $ 32,155 Commercial real estate: Construction 7,783 1,295 Other 153,097 143,680 1 – 4 Family residential real estate: Owner occupied 31,012 30,027 Non-owner occupied 14,471 14,555 Construction 1,256 234 Consumer 5,812 6,965 Subtotal 256,638 228,911 Less: Deferred loan fees and costs (360 ) (392 ) Allowance for loan losses (3,566 ) (2,432 ) Net loans $ 252,712 $ 226,087 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 316 $ 1,660 $ 289 $ 167 $ 2,432 Provision for loan losses 189 862 414 33 1,498 Loans charged-off — (4 ) (311 ) (80 ) (395 ) Recoveries — — 10 21 31 Total ending allowance balance $ 505 $ 2,518 $ 402 $ 141 $ 3,566 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 307 $ 1,440 $ 294 $ 364 $ 2,405 Provision for loan losses 26 532 36 (164 ) 430 Loans charged-off (17 ) (313 ) (43 ) (78 ) (451 ) Recoveries — 1 2 45 48 Total ending allowance balance $ 316 $ 1,660 $ 289 $ 167 $ 2,432 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 868 $ 6 $ — $ 874 Collectively evaluated for impairment 505 1,650 396 141 2,692 Total ending allowance balance $ 505 $ 2,518 $ 402 $ 141 $ 3,566 Recorded investment in loans: Loans individually evaluated for impairment $ 1,029 $ 5,105 $ 758 $ — $ 6,892 Loans collectively evaluated for impairment 42,219 155,734 46,166 5,816 249,935 Total ending loans balance $ 43,248 $ 160,839 $ 46,924 $ 5,816 $ 256,827 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 58 $ 12 $ — $ 70 Collectively evaluated for impairment 316 1,602 277 167 2,362 Total ending allowance balance $ 316 $ 1,660 $ 289 $ 167 $ 2,432 Recorded investment in loans: Loans individually evaluated for impairment $ — $ 2,786 $ 615 $ — $ 3,401 Loans collectively evaluated for impairment 32,210 142,139 44,304 6,966 225,619 Total ending loans balance $ 32,210 $ 144,925 $ 44,919 $ 6,966 $ 229,020 |
Impaired Financing Receivables [Table Text Block] | Unpaid Allowance for Average Interest Cash Basis Principal Recorded Loan Losses Recorded Income Interest Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial $ 1,033 $ 1,029 $ — $ 95 $ — $ — Commercial real estate: Construction 386 384 — 52 — — Other 2,121 2,106 — 2,344 — — 1-4 Family residential real estate: Owner occupied 175 174 — 357 2 2 Non-owner occupied 722 407 — 435 — — With an allowance recorded: Commercial real estate: Other 2,802 2,615 868 1,103 8 8 1-4 Family residential real estate: Owner occupied 177 177 6 149 — — Non-owner occupied — — — 115 — — Total $ 7,416 $ 6,892 $ 874 $ 4,650 $ 10 $ 10 Unpaid Allowance for Average Interest Cash Basis Principal Recorded Loan Losses Recorded Income Interest Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial real estate: Other $ 2,432 $ 2,082 $ — $ 1,844 $ 145 $ 145 1-4 Family residential real estate: Owner occupied 58 35 — 187 34 34 Non-owner occupied — — — 48 15 15 With an allowance recorded: Commercial real estate: Other 740 704 58 761 36 36 1-4 Family residential real estate: Owner occupied 122 123 4 125 7 7 Non-owner occupied 512 457 8 483 19 19 Total $ 3,864 $ 3,401 $ 70 $ 3,448 $ 256 $ 256 |
Past Due Financing Receivables [Table Text Block] | June 30, 2016 June 30, 2015 Loans Past Due Loans Past Due Over 90 Days Over 90 Days Still Still Non-accrual Accruing Non-accrual Accruing Commercial $ 1,009 $ — $ — $ — Commercial real estate: Construction 384 — — — Other 4,000 — 2,079 — 1 – 4 Family residential: Owner occupied 234 — 190 — Non-owner occupied 407 — — — Consumer — — — — Total $ 6,034 $ — $ 2,269 $ — Days Past Due 30 - 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ 123 $ — $ — $ 123 $ 43,125 $ 43,248 Commercial real estate: Construction — — — — 7,764 7,764 Other 59 — 2,110 2,169 150,906 153,075 1-4 Family residential: Owner occupied 15 — 218 233 30,947 31,180 Non-owner occupied — — 196 196 14,278 14,474 Construction — — — — 1,270 1,270 Consumer 7 — — 7 5,809 5,816 Total $ 204 $ — $ 2,524 $ 2,728 $ 254,099 $ 256,827 Days Past Due 30 - 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ 25 $ — $ 25 $ 32,185 $ 32,210 Commercial real estate: Construction — — — — 1,270 1,270 Other 62 — 30 92 143,563 143,655 1-4 Family residential: Owner occupied 268 68 139 475 29,654 30,129 Non-owner occupied — 8 — 8 14,547 14,555 Construction — — — — 235 235 Consumer 17 — — 17 6,949 6,966 Total $ 347 $ 101 $ 169 $ 617 $ 228,403 $ 229,020 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Loans Investment Investment Commercial 3 $ 1,058 $ 1,029 Commercial real estate: Other 3 1,294 1,487 Total 6 $ 2,352 $ 2,516 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special Not Pass Mention Substandard Doubtful Rated Commercial $ 35,243 $ 6,190 $ 1,162 $ — $ 653 Commercial real estate: Construction 7,305 — 384 — 75 Other 144,101 2,482 4,026 2,150 316 1-4 Family residential real estate: Owner occupied 3,506 72 349 47 27,206 Non-owner occupied 12,999 406 486 196 387 Construction 235 — — — 1,035 Consumer 210 — 6 — 5,600 Total $ 203,599 $ 9,150 $ 6,413 $ 2,393 $ 35,272 Special Not Pass Mention Substandard Doubtful Rated Commercial $ 27,359 $ 4,030 $ 96 $ — $ 725 Commercial real estate: Construction 1,224 — 46 — — Other 133,452 4,473 2,876 2,032 822 1-4 Family residential real estate: Owner occupied 4,029 — — 35 26,065 Non-owner occupied 12,602 475 1,025 — 453 Construction 235 — — — — Consumer — — — — 6,966 Total $ 178,901 $ 8,978 $ 4,043 $ 2,067 $ 35,031 |
Loans and Leases Receivable, Related Parties Disclosure [Table Text Block] | Principal balance, July 1 $ 4,520 New loans 577 Repayments (373 ) Principal balance, June 30 $ 4,724 |
Note 4 - Premises and Equipme27
Note 4 - Premises and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2016 2015 Land $ 1,469 $ 1,469 Land improvements 317 406 Building and leasehold improvements 11,978 11,391 Furniture, fixture and equipment 4,694 4,853 Total premises and equipment 18,458 18,119 Accumulated depreciation and amortization (4,873 ) (6,514 ) Premises and equipment, net $ 13,585 $ 11,605 |
Operating Leases of Lessee Disclosure [Table Text Block] | Twelve Months Ending June 30 2017 $ 113 2018 84 2019 40 2020 40 2021 18 Total $ 295 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Time Deposit Maturities [Table Text Block] | Twelve Months Ending June 30 2017 $ 34,735 2018 14,547 2019 7,266 2020 4,517 2021 2,989 Thereafter 954 $ 65,008 |
Note 6 - Short-term Borrowings
Note 6 - Short-term Borrowings (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | 201 6 201 5 Balance at June 30 $ 19,129 $ 19,838 Average balance during the year 21,196 18,281 Maximum month-end balance 25,759 21,583 Average interest rate during the year 0.18 % 0.17 % Weighted average rate, June 30 0.20 % 0.16 % |
Schedule of Repurchase Agreements [Table Text Block] | Overnight and Continuous 2016 2015 U.S. government-sponsored entities and agencies pledged $ 2,066 $ 4,313 Residential mortgage-backed securities pledged 16,864 16,301 Collateralized mortgage obligations pledged 1,510 1,658 Total pledged $ 20,440 $ 22,272 Repurchase agreements $ 19,129 $ 19,838 |
Note 7 - Federal Home Loan Ba30
Note 7 - Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | Advance Type Maturity Term Interest Rate Balance Balance Interest-only, single maturity 10/09/2015 Fixed 1.43 % $ — $ 500 Interest only, single maturity 07/01/2016 Fixed 0.51 7,600 — Interest only, single maturity 07/05/2016 Fixed 0.43 2,000 — Interest-only, single maturity 10/12/2017 Fixed 2.07 500 500 Interest-only, putable 12/07/2017 Fixed 3.24 5,000 5,000 Principal and interest, mortgage matched 04/01/2019 Fixed 4.30 181 240 Interest only, single maturity 01/18/2019 Fixed 1.16 2,000 — $ 17,281 $ 6,240 |
Schedule of Principal Payments [Table Text Block] | Twelve Months Ending June 30 Principal 2017 $ 9,667 2018 5,564 2019 2,050 Total $ 17,281 |
Note 8 - Employee Benefit Pla31
Note 8 - Employee Benefit Plans (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Restricted Stock Awards Weighted-Average Grant Date Fair Value Per Share Outstanding at June 30, 2015 7,543 $ 14.40 Expired (3,266 ) 13.19 Forfeited (713 ) 15.28 Non-vested at June 30, 2016 3,564 15.33 Expired on September 22, 2016 (2,135 ) 15.05 Non-vested at September 22, 2016 1,429 $ 15.75 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2016 2015 Current income taxes $ 421 $ 740 Deferred income tax expense (benefit) (142 ) (22 ) $ 279 $ 718 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2016 2015 Deferred tax assets: Allowance for loan losses $ 1,082 $ 704 Deferred compensation 721 707 Recognized loss on impairment of security 265 265 AMT credit carryforward 143 — Deferred income 140 — OREO deferred gain 13 14 Non-accrual loan interest income 72 65 Gross deferred tax asset 2,436 1,755 Deferred tax liabilities: Depreciation (761 ) (223 ) Loan fees (279 ) (248 ) Prepaid expenses (91 ) (121 ) FHLB stock dividends (166 ) (166 ) Net unrealized securities gain (1,231 ) (463 ) Gross deferred tax liabilities (2,528 ) (1,221 ) Net deferred asset (liability) $ (92 ) $ 534 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2016 2015 Income taxes computed at the statutory rate on pretax income $ 825 $ 1,250 Tax exempt income (491 ) (483 ) Cash surrender value income (65 ) (62 ) Other 10 13 $ 279 $ 718 |
Note 10 - Regulatory Matters (T
Note 10 - Regulatory Matters (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Capital Required - Minimum Required Amount Ratio Amount Ratio Amount Ratio June 30, 2016 Common equity Tier 1 to risk-weighted assets Bank $ 39.4 13.37 % $ 15.1 5.125 % $ 19.1 6.50 % Tier 1 capital to risk weighted assets Bank 39.4 13.37 19.5 6.625 23.6 8.00 Total Capital to risk weighted assets Bank 42.9 14.58 25.4 8.625 29.4 10.00 Tier 1 capital to average assets Bank 39.4 9.25 17.0 4.00 21.3 5.00 Actual Minimum Capital Required - Minimum Required Amount Ratio Amount Ratio Amount Ratio June 30, 2015 Common equity Tier 1 to risk-weighted assets Bank $ 38.5 14.4 % $ 12.0 4.5 % $ 17.4 6.5 % Tier 1 capital to risk weighted assets Bank 38.5 14.4 16.1 6.0 21.4 8.0 Total Capital to risk weighted assets Bank 41.0 15.3 21.4 8.0 26.8 10.0 Tier 1 capital to average assets Bank 38.5 9.5 16.2 4.0 20.2 5.0 |
Note 12 - Fair Value (Tables)
Note 12 - Fair Value (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2016 Using Balance at June 30, 2016 Level 1 Level 2 Level 3 Assets: Securities available-for-sale: Obligations of government-sponsored entities $ 10,044 $ — $ 10,044 $ — Obligations of states and political subdivisions 55,954 — 55,954 — Mortgage-backed securities - residential 59,596 — 59,596 — Mortgage-backed securities - commercial 1,526 — 1,526 — Collateralized mortgage obligations 5,820 — 5,820 — Pooled trust preferred security 429 — 429 — Fair Value Measurements at June 30, 2015 Using Balance at June 30, 2015 Level 1 Level 2 Level 3 Securities available-for-sale: Obligations of government-sponsored entities $ 16,558 $ — $ 16,558 $ — Obligations of states and political subdivisions 48,963 — 48,963 — Mortgage-backed securities - residential 64,914 — 64,914 — Mortgage-backed securities - commercial 1,486 — 1,486 — Collateralized mortgage obligations 4,683 — 4,683 — Pooled trust preferred security 540 — 540 — |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Fair Value Measurements at June 30, 2016 Using Balance at June 30, 2016 Level 1 Level 2 Level 3 Impaired loans: Commercial Real Estate - Other $ 1,206 $ — $ — $ 1,206 1-4 Family residential real estate – Non-owner occupied 197 — — 197 Fair Value Measurements at June 30, 2015 Using Balance at June 30, 2015 Level 1 Level 2 Level 3 Impaired loans: Commercial Real Estate - Other $ 1,983 $ — $ — $ 1,983 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Impaired loans: Commercial Real Estate – Other $ 459 Settlement Contract N/A 0.0% 0.0% Commercial Real Estate – Other $ 127 Bid Indications N/A 0.0% 0.0% Commercial Real Estate – Other $ 620 Bid Indications N/A 0.0% 0.0% 1-4 Family residential real estate – Non-owner occupied $ 197 Bid Indications N/A 0.0% 0.0% Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Impaired loans: Commercial Real Estate – Other $ 733 Income approach Liquidation adjustment for distressed sales -40.0% -40.0% Commercial Real Estate – Other $ 125 Cost approach Liquidation adjustment for distressed sales -40.0% -40.0% Commercial Real Estate – Other $ 1,121 Sales comparison approach Adjustment for differences between comparable sales 82.9% to -71.6% -11.7% Commercial Real Estate – Other $ 4 Settlement Contract Adjustment for difference between loan balance and settlement value -91.8% -91.8% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 2016 2015 Carrying Estimated Carrying Estimated Financial Assets: Level 1 inputs: Cash and cash equivalents $ 10,181 $ 10,181 $ 10,544 $ 10,544 Level 2 inputs: Certificates of deposits in other financial institutions 5,906 5,906 4,470 4,456 Loans held for sale 1,048 1,067 462 468 Accrued interest receivable 1,077 1,077 1,035 1,035 Level 3 inputs: Securities held-to-maturity 3,494 3,619 3,655 3,722 Loans, net 252,712 253,155 226,087 226,915 Financial Liabilities: Level 2 inputs: Demand and savings deposits 281,640 281,640 266,635 266,635 Time deposits 65,008 65,111 66,361 66,498 Short-term borrowings 19,129 19,129 19,838 19,838 Federal Home Loan Bank advances 17,281 17,486 6,240 6,537 Accrued interest payable 40 40 41 41 |
Note 13 - Parent Company Fina35
Note 13 - Parent Company Financial Statements (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | June 30, June 30, Condensed Balance Sheets Assets Cash $ 46 $ 54 Securities, available-for-sale 2,050 1,986 Other assets 50 15 Investment in subsidiary 41,708 39,421 Total assets $ 43,854 $ 41,476 Liabilities Other liabilities $ 61 $ 10 Shareholders’ equity 43,793 41,466 Total liabilities & shareholders’ equity $ 43,854 $ 41,476 |
Condensed Income Statement [Table Text Block] | Year Ended Year Ended Condensed Statements of Income and Comprehensive Income Cash dividends from Bank subsidiary $ 1,425 $ 1,360 Other income 46 45 Other expense 206 224 Income before income taxes and equity in undistributed net income of subsidiary 1,265 1,181 Income tax benefit (50 ) (57 ) Income before equity in undistributed net income of Bank subsidiary 1,315 1,238 Equity in undistributed net income of subsidiary 832 1,720 Net income $ 2,147 $ 2,958 Comprehensive income $ 3,637 $ 2,574 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows Year Ended Year Ended Cash flows from operating activities Net income $ 2,147 $ 2,958 Equity in undistributed net income of Bank subsidiary (832 ) (1,720 ) Securities amortization and accretion, net (11 ) — Change in other assets and liabilities (2 ) 31 Net cash flows from operating activities 1,302 1,269 Cash flows from investing activities Purchases of available-for-sale securities — (739 ) Maturities, calls and principal pay downs of available-for-sale securities — 750 Net cash flows from investing activities — 11 Cash flows from financing activities Dividend paid (1,310 ) (1,311 ) Net cash flows from financing activities (1,310 ) (1,311 ) Change in cash and cash equivalents (8 ) (31 ) Beginning cash and cash equivalents 54 85 Ending cash and cash equivalents $ 46 $ 54 |
Note 14 - Earnings Per Share (T
Note 14 - Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the year Ended June 30, 2016 2015 Basic: Net income available to common shareholders $ 2,147 $ 2,958 Weighted average common shares outstanding 2,725,276 2,726,304 Basic income per share $ 0.79 $ 1.09 Diluted: Net income available to common shareholders $ 2,147 $ 2,958 Weighted average common shares outstanding 2,725,276 2,726,304 Dilutive effect of restricted stock 103 273 Total common shares and dilutive potential common shares 2,725,379 2,726,577 Dilutive income per share $ 0.79 $ 1.08 |
Note 15 - Accumulated Other C37
Note 15 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Pretax Tax Effect After-tax Affected Line Item in Consolidated Statements of Income Balance as of June 30, 201 4 $ 1,944 $ (661 ) $ 1,283 Unrealized holding loss on available-for-sale securities arising during the period (421 ) 143 (278 ) Amounts reclassified from accumulated other comprehensive income (160 ) 54 (106 ) (a)(b) Net current period other comprehensive loss (581 ) 197 (384 ) Balance as of June 30, 2015 1,363 (464 ) 899 Unrealized holding gain on available-for-sale securities arising during the period 2,460 (837 ) 1,623 Amounts reclassified from accumulated other comprehensive income (202 ) 69 (133 ) (a)(b) Net current period other comprehensive gain 2,258 (768 ) 1,490 Balance as of June 30, 2016 $ 3,621 $ (1,232 ) $ 2,389 |
Note 1 - Summary of Significa38
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Cash Reserve Deposit Required and Made Federal Reserve Banks | $ 5,652 | $ 4,613 |
Bank Owned Life Insurance | 14,106 | 14,081 |
Cash Surrender Value of Life Insurance | $ 6,819 | $ 6,626 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) | 12 Months Ended | |
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | $ 0 |
Available-for-sale Securities Income Tax Provision on Gross Realized Gains | 69,000 | 96,000 |
Available-for-sale Securities Income Tax Provision on Net Realized Gain (Loss) | 0 | 42,000 |
Available-for-sale Securities Pledged as Collateral | $ 55,140,000 | $ 59,805,000 |
Available-for-sale, Qualitative Disclosure, Number of Positions | 245 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 16 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 9 |
Note 2 - Securities - Amortized
Note 2 - Securities - Amortized Cost and Fair Value of Securities Available-for-sale and Securities Held-to-maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 9,682 | $ 16,411 |
Available-for-sale securities, gross unrealized gains | 362 | 178 |
Available-for-sale securities, gross unrealized losses | (31) | |
Available-for-sale Securities, Debt Securities | 10,044 | 16,558 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 53,952 | 48,557 |
Available-for-sale securities, gross unrealized gains | 2,010 | 811 |
Available-for-sale securities, gross unrealized losses | (8) | (405) |
Available-for-sale Securities, Debt Securities | 55,954 | 48,963 |
Held-to-maturity, amortized cost | 3,494 | 3,655 |
Held-to-maturity, gross unrecognized gains | 125 | 67 |
Held-to-maturity, gross unrecognized losses | ||
Held-to-maturity, fair value | 3,619 | 3,722 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 58,702 | 64,441 |
Available-for-sale securities, gross unrealized gains | 920 | 699 |
Available-for-sale securities, gross unrealized losses | (26) | (226) |
Available-for-sale Securities, Debt Securities | 59,596 | 64,914 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,485 | 1,485 |
Available-for-sale securities, gross unrealized gains | 41 | 1 |
Available-for-sale securities, gross unrealized losses | ||
Available-for-sale Securities, Debt Securities | 1,526 | 1,486 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 5,774 | 4,703 |
Available-for-sale securities, gross unrealized gains | 49 | 14 |
Available-for-sale securities, gross unrealized losses | (3) | (34) |
Available-for-sale Securities, Debt Securities | 5,820 | 4,683 |
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 153 | 184 |
Available-for-sale securities, gross unrealized gains | 276 | 356 |
Available-for-sale securities, gross unrealized losses | ||
Available-for-sale Securities, Debt Securities | 429 | 540 |
Available-for-sale Debt Securities, Amortized Cost Basis | 129,748 | 135,781 |
Available-for-sale securities, gross unrealized gains | 3,658 | 2,059 |
Available-for-sale securities, gross unrealized losses | (37) | (696) |
Available-for-sale Securities, Debt Securities | 133,369 | 137,144 |
Held-to-maturity, amortized cost | 3,494 | 3,655 |
Held-to-maturity, gross unrecognized gains | 125 | 67 |
Held-to-maturity, gross unrecognized losses | ||
Held-to-maturity, fair value | $ 3,619 | $ 3,722 |
Note 2 - Securities - Proceeds
Note 2 - Securities - Proceeds from Sales and Calls of Available-for-sale Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Proceeds from sales | $ 10,596 | $ 16,124 |
Gross realized gains | 202 | 283 |
Gross realized losses | $ 123 |
Note 2 - Securities - Amortiz42
Note 2 - Securities - Amortized Cost and Fair Values of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
U.S. Government-sponsored Mortgage-backed and Related Securities [Member] | ||
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | $ 65,961 | |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | 66,942 | |
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | 153 | |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | 429 | |
Available-for-sale Debt Securities, Amortized Cost Basis | 153 | $ 184 |
Available-for-sale Securities, Debt Securities | 429 | 540 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 5,906 | |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 6,040 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 14,602 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 15,194 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 25,276 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 26,256 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 17,850 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 18,508 | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis | 63,634 | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date | 65,998 | |
Available-for-sale Debt Securities, Amortized Cost Basis | 129,748 | 135,781 |
Available-for-sale Securities, Debt Securities | 133,369 | 137,144 |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 2,820 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 2,914 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 674 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 705 | |
Held-to-maturity Securities | 3,494 | 3,655 |
Held-to-maturity Securities, Fair Value | $ 3,619 | $ 3,722 |
Note 2 - Securities - Securitie
Note 2 - Securities - Securities with Unrealized and Unrecognized Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 572 | $ 18,796 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (6) | (352) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 641 | 2,145 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (2) | (53) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,213 | 20,941 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (8) | (405) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 3,719 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (31) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,719 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (31) | |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 4,899 | 24,322 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (12) | (200) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4,836 | 2,031 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (14) | (26) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 9,735 | 26,353 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (26) | (226) |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 3,321 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (34) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,212 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (3) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,212 | 3,321 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (3) | (34) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 5,471 | 50,158 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (18) | (617) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6,689 | 4,176 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (19) | (79) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 12,160 | 54,334 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ (37) | $ (696) |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 12 Months Ended | |
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | $ 2,524,000 | $ 169,000 |
Non-accrual Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,510,000 | 2,100,000 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Increase to Allowance | 0 | 0 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | 6 | 0 |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 207,000 | $ 0 |
Recorded InvestmentIn Loans | 549,000 | 501,000 |
Loans and Leases Receivable, Deferred Income | 360,000 | 392,000 |
Financing Receivable, Recorded Investment, Past Due | 2,728,000 | 617,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,034,000 | 2,269,000 |
Financing Receivable, Modifications, Recorded Investment | 3,529,000 | 1,335,000 |
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | $ 43,000 | $ 70,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 |
Threshold Amount of Loans Outstanding to Perform Credit Analysis | $ 100,000 |
Note 3 - Loans - Major Classifi
Note 3 - Loans - Major Classifications (Details) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Commercial Portfolio Segment [Member] | |||
Loans Receivable, Gross | $ 43,207,000 | $ 32,155,000 | |
Allowance for loan losses | (505,000) | (316,000) | $ (307,000) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans Receivable, Gross | 7,783,000 | 1,295,000 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | |||
Loans Receivable, Gross | 153,097,000 | 143,680,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Allowance for loan losses | (2,518,000) | (1,660,000) | (1,440,000) |
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans Receivable, Gross | 1,256,000 | 234,000 | |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | |||
Loans Receivable, Gross | 31,012,000 | 30,027,000 | |
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | |||
Loans Receivable, Gross | 14,471,000 | 14,555,000 | |
Residential Portfolio Segment [Member] | |||
Allowance for loan losses | (402,000) | (289,000) | (294,000) |
Consumer Portfolio Segment [Member] | |||
Loans Receivable, Gross | 5,812,000 | 6,965,000 | |
Allowance for loan losses | (141,000) | (167,000) | (364,000) |
Loans Receivable, Gross | 256,638,000 | 228,911,000 | |
Less: Deferred loan fees and costs | (360,000) | (392,000) | |
Allowance for loan losses | (3,566,000) | (2,432,000) | $ (2,405,000) |
Net loans | $ 252,712,000 | $ 226,087,000 |
Note 3 - Loans - Allowance for
Note 3 - Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Commercial Portfolio Segment [Member] | ||||
Beginning balance | $ 316 | $ 307 | ||
Provision for Loan and Lease Losses | 189 | 26 | ||
Loans charged-off | (17) | |||
Recoveries | ||||
Total ending allowance balance | 505 | 316 | ||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 505 | 316 | ||
Total ending allowance balance | 316 | 316 | 505 | 316 |
Loans individually evaluated for impairment | 1,029 | |||
Loans collectively evaluated for impairment | 42,219 | 32,210 | ||
Total ending loans balance | 43,248 | 32,210 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning balance | 1,660 | 1,440 | ||
Provision for Loan and Lease Losses | 862 | 532 | ||
Loans charged-off | (4) | (313) | ||
Recoveries | 1 | |||
Total ending allowance balance | 2,518 | 1,660 | ||
Individually evaluated for impairment | 868 | 58 | ||
Collectively evaluated for impairment | 1,650 | 1,602 | ||
Total ending allowance balance | 1,660 | 1,660 | 2,518 | 1,660 |
Loans individually evaluated for impairment | 5,105 | 2,786 | ||
Loans collectively evaluated for impairment | 155,734 | 142,139 | ||
Total ending loans balance | 160,839 | 144,925 | ||
Residential Portfolio Segment [Member] | ||||
Beginning balance | 289 | 294 | ||
Provision for Loan and Lease Losses | 414 | 36 | ||
Loans charged-off | (311) | (43) | ||
Recoveries | 10 | 2 | ||
Total ending allowance balance | 402 | 289 | ||
Individually evaluated for impairment | 6 | 12 | ||
Collectively evaluated for impairment | 396 | 277 | ||
Total ending allowance balance | 289 | 289 | 402 | 289 |
Loans individually evaluated for impairment | 758 | 615 | ||
Loans collectively evaluated for impairment | 46,166 | 44,304 | ||
Total ending loans balance | 46,924 | 44,919 | ||
Consumer Portfolio Segment [Member] | ||||
Beginning balance | 167 | 364 | ||
Provision for Loan and Lease Losses | 33 | (164) | ||
Loans charged-off | (80) | (78) | ||
Recoveries | 21 | 45 | ||
Total ending allowance balance | 141 | 167 | ||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 141 | 167 | ||
Total ending allowance balance | 167 | 167 | 141 | 167 |
Loans individually evaluated for impairment | ||||
Loans collectively evaluated for impairment | 5,816 | 6,966 | ||
Total ending loans balance | 5,816 | 6,966 | ||
Beginning balance | 2,432 | 2,405 | ||
Provision for Loan and Lease Losses | 1,498 | 430 | ||
Loans charged-off | (395) | (451) | ||
Recoveries | 31 | 48 | ||
Total ending allowance balance | 3,566 | 2,432 | ||
Individually evaluated for impairment | 874 | 70 | ||
Collectively evaluated for impairment | 2,692 | 2,362 | ||
Total ending allowance balance | $ 3,566 | $ 2,432 | 3,566 | 2,432 |
Loans individually evaluated for impairment | 6,892 | 3,401 | ||
Loans collectively evaluated for impairment | 249,935 | 225,619 | ||
Total ending loans balance | $ 256,827 | $ 229,020 |
Note 3 - Loans - Impaired Loans
Note 3 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Commercial Portfolio Segment [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | $ 1,033 | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,029 | |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 95 | |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | ||
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,121 | $ 2,432 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,106 | 2,082 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2,344 | 1,844 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 145 | |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 145 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,802 | 740 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,615 | 704 |
Impaired Financing Receivable, Related Allowance | 868 | 58 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,103 | 761 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 8 | 36 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 8 | 36 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 386 | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 384 | |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 52 | |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | ||
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 175 | 58 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 174 | 35 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 357 | 187 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 2 | 34 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 2 | 34 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 177 | 122 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 177 | 123 |
Impaired Financing Receivable, Related Allowance | 6 | 4 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 149 | 125 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 7 | |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 7 | |
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 722 | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 407 | |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 435 | 48 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 15 | |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 15 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 512 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 457 | |
Impaired Financing Receivable, Related Allowance | 8 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 115 | 483 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 19 | |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 19 | |
Impaired Financing Receivable, Related Allowance | 874 | 70 |
Impaired Financing Receivable, Unpaid Principal Balance | 7,416 | 3,864 |
Impaired Financing Receivable, Recorded Investment | 6,892 | 3,401 |
Impaired Financing Receivable, Average Recorded Investment | 4,650 | 3,448 |
Impaired Financing Receivable, Interest Income, Accrual Method | 10 | 256 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 10 | $ 256 |
Note 3 - Loans - Loans Past Due
Note 3 - Loans - Loans Past Due (Details) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | $ 123,000 | |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 25,000 | |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,009,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 123,000 | 25,000 |
Financing Receivable Recorded Investment Not Past Due | 43,125,000 | 32,185,000 |
Financing Receivable, Recorded Investment, Total | 43,248,000 | 32,210,000 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 59,000 | 62,000 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 2,110,000 | 30,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 384,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | ||
Financing Receivable Recorded Investment Not Past Due | 7,764,000 | 1,270,000 |
Financing Receivable, Recorded Investment, Total | 7,764,000 | 1,270,000 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,000,000 | 2,079,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 2,169,000 | 92,000 |
Financing Receivable Recorded Investment Not Past Due | 150,906,000 | 143,563,000 |
Financing Receivable, Recorded Investment, Total | 153,075,000 | 143,655,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Total | 160,839,000 | 144,925,000 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 15,000 | 268,000 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 68,000 | |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 8,000 | |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 218,000 | 139,000 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 196,000 | |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Financing Receivable Recorded Investment Not Past Due | 1,270,000 | 235,000 |
Financing Receivable, Recorded Investment, Total | 1,270,000 | 235,000 |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 234,000 | 190,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 233,000 | 475,000 |
Financing Receivable Recorded Investment Not Past Due | 30,947,000 | 29,654,000 |
Financing Receivable, Recorded Investment, Total | 31,180,000 | 30,129,000 |
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 407,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 196,000 | 8,000 |
Financing Receivable Recorded Investment Not Past Due | 14,278,000 | 14,547,000 |
Financing Receivable, Recorded Investment, Total | 14,474,000 | 14,555,000 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Total | 46,924,000 | 44,919,000 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 7,000 | 17,000 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 7,000 | 17,000 |
Financing Receivable Recorded Investment Not Past Due | 5,809,000 | 6,949,000 |
Financing Receivable, Recorded Investment, Total | 5,816,000 | 6,966,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 204,000 | 347,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 101,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 2,524,000 | 169,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,034,000 | 2,269,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 2,728,000 | 617,000 |
Financing Receivable Recorded Investment Not Past Due | 254,099,000 | 228,403,000 |
Financing Receivable, Recorded Investment, Total | $ 256,827,000 | $ 229,020,000 |
Note 3 - Loans - Loans by Class
Note 3 - Loans - Loans by Class Modified as Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016USD ($) | Jun. 30, 2015 | |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 1,058 | |
Post-Modification Outstanding Recorded Investment | $ 1,029 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 1,294 | |
Post-Modification Outstanding Recorded Investment | $ 1,487 | |
Financing Receivable, Modifications, Number of Contracts | 6 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 2,352 | |
Post-Modification Outstanding Recorded Investment | $ 2,516 |
Note 3 - Loans - Recorded Inves
Note 3 - Loans - Recorded Investment by Risk Category (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Net | $ 35,243 | $ 27,359 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Net | 6,190 | 4,030 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Net | 1,162 | 96 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Net | ||
Commercial Portfolio Segment [Member] | Not Rated [Member] | ||
Financing Receivable, Net | 653 | 725 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 7,305 | 1,224 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 144,101 | 133,452 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | ||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 2,482 | 4,473 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 384 | 46 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 4,026 | 2,876 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | ||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 2,150 | 2,032 |
Commercial Real Estate Portfolio Segment [Member] | Not Rated [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 75 | |
Commercial Real Estate Portfolio Segment [Member] | Not Rated [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 316 | 822 |
Residential Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 235 | 235 |
Residential Portfolio Segment [Member] | Pass [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 3,506 | 4,029 |
Residential Portfolio Segment [Member] | Pass [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 12,999 | 12,602 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | ||
Residential Portfolio Segment [Member] | Special Mention [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 72 | |
Residential Portfolio Segment [Member] | Special Mention [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 406 | 475 |
Residential Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | ||
Residential Portfolio Segment [Member] | Substandard [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 349 | |
Residential Portfolio Segment [Member] | Substandard [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 486 | 1,025 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | ||
Residential Portfolio Segment [Member] | Doubtful [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 47 | 35 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 196 | |
Residential Portfolio Segment [Member] | Not Rated [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 1,035 | |
Residential Portfolio Segment [Member] | Not Rated [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 27,206 | 26,065 |
Residential Portfolio Segment [Member] | Not Rated [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 387 | 453 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Net | 210 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Net | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Net | 6 | |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Net | ||
Consumer Portfolio Segment [Member] | Not Rated [Member] | ||
Financing Receivable, Net | 5,600 | 6,966 |
Pass [Member] | ||
Financing Receivable, Net | 203,599 | 178,901 |
Special Mention [Member] | ||
Financing Receivable, Net | 9,150 | 8,978 |
Substandard [Member] | ||
Financing Receivable, Net | 6,413 | 4,043 |
Doubtful [Member] | ||
Financing Receivable, Net | 2,393 | 2,067 |
Not Rated [Member] | ||
Financing Receivable, Net | $ 35,272 | $ 35,031 |
Note 3 - Loans - Loans to Relat
Note 3 - Loans - Loans to Related Parties (Details) $ in Thousands | 12 Months Ended |
Jun. 30, 2016USD ($) | |
Principal balance, July 1 | $ 4,520 |
New loans | 577 |
Repayments | (373) |
Principal balance, June 30 | $ 4,724 |
Note 4 - Premises and Equipme52
Note 4 - Premises and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Construction in Progress, Gross | $ 6,453 | |
Depreciation | $ 647 | 575 |
Operating Leases, Rent Expense | $ 159 | $ 134 |
Note 4 - Premises and Equipme53
Note 4 - Premises and Equipment - Major Classifications of Premises and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Land [Member] | ||
Premises and equipment, gross | $ 1,469 | $ 1,469 |
Land Improvements [Member] | ||
Premises and equipment, gross | 317 | 406 |
Building And Leasehold Improvements [Member] | ||
Premises and equipment, gross | 11,978 | 11,391 |
Furniture and Fixtures [Member] | ||
Premises and equipment, gross | 4,694 | 4,853 |
Premises and equipment, gross | 18,458 | 18,119 |
Accumulated depreciation and amortization | (4,873) | (6,514) |
Premises and equipment, net | $ 13,585 | $ 11,605 |
Note 4 - Premises and Equipme54
Note 4 - Premises and Equipment - Minimum Annual Rentals and Commitments (Details) $ in Thousands | Jun. 30, 2016USD ($) |
2,017 | $ 113 |
2,018 | 84 |
2,019 | 40 |
2,020 | 40 |
2,021 | 18 |
Total | $ 295 |
Note 5 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Time Deposits Minimum Denomination | $ 250 | |
Time Deposits, at or Above FDIC Insurance Limit | 14,176 | $ 14,719 |
Related Party Deposit Liabilities | $ 5,386 | $ 6,115 |
Note 5 - Deposits - Maturities
Note 5 - Deposits - Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
2,017 | $ 34,735 | |
2,018 | 14,547 | |
2,019 | 7,266 | |
2,020 | 4,517 | |
2,021 | 2,989 | |
Thereafter | 954 | |
Total | $ 65,008 | $ 66,361 |
Note 6 - Short-term Borrowing57
Note 6 - Short-term Borrowings (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Interest Expense, Short-term Borrowings | $ 39 | $ 31 |
Note 6 - Short-term Borrowing58
Note 6 - Short-term Borrowings - Summary of Short-term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Short-term borrowings | $ 19,129 | $ 19,838 |
Average balance during the year | 21,196 | 18,281 |
Maximum month-end balance | $ 25,759 | $ 21,583 |
Average interest rate during the year | 0.18% | 0.17% |
Weighted average rate, June 30 | 0.20% | 0.16% |
Note 6 - Short-term Borrowing59
Note 6 - Short-term Borrowings - Schedule of Repurchase Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Pledged Financial Instruments, Securities for Repurchase Agreements | $ 2,066 | $ 4,313 |
Residential Mortgage Backed Securities [Member] | ||
Pledged Financial Instruments, Securities for Repurchase Agreements | 16,864 | 16,301 |
Collateralized Mortgage Obligations [Member] | ||
Pledged Financial Instruments, Securities for Repurchase Agreements | 1,510 | 1,658 |
Pledged Financial Instruments, Securities for Repurchase Agreements | 20,440 | 22,272 |
Repurchase Agreements | $ 19,129 | $ 19,838 |
Note 7 - Federal Home Loan Ba60
Note 7 - Federal Home Loan Bank Advances (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Interest Only, Putable [Member] | Maturity At 7th December 2017 [Member] | ||
Long-term Federal Home Loan Bank Advances | $ 5,000 | |
First Mortgage Loans [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 28,085 | $ 29,143 |
Prepayment Penalty for Advances Received, Percentage of Lost Cash Flow | 100.00% | |
Long-term Federal Home Loan Bank Advances | $ 17,281 | $ 6,240 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 2,439 |
Note 7 - Federal Home Loan Ba61
Note 7 - Federal Home Loan Bank Advances - Summary of Federal Home Loan Bank (FHLB) Advances (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Federal Home Loan Bank Advances, Interest-only Single Maturity, Maturity at October 9, 2015 [Member] | ||
Federal Home Loan Bank Advances, Maturity Date | Oct. 9, 2015 | |
Federal Home Loan Bank Advances, Contractual Term | Fixed | |
Federal Home Loan Bank Advances, Interest Rate | 1.43% | |
Long-term Federal Home Loan Bank Advances | $ 500 | |
Federal Home Loan Bank Advances, Interest-only Single Maturity, Maturity at July 1, 2016 [Member] | ||
Federal Home Loan Bank Advances, Maturity Date | Jul. 1, 2016 | |
Federal Home Loan Bank Advances, Contractual Term | Fixed | |
Federal Home Loan Bank Advances, Interest Rate | 0.51% | |
Long-term Federal Home Loan Bank Advances | $ 7,600 | |
Federal Home Loan Bank Advances, Interest-only Single Maturity, Maturity at July 5, 2016 [Member] | ||
Federal Home Loan Bank Advances, Maturity Date | Jul. 5, 2016 | |
Federal Home Loan Bank Advances, Contractual Term | Fixed | |
Federal Home Loan Bank Advances, Interest Rate | 0.43% | |
Long-term Federal Home Loan Bank Advances | $ 2,000 | |
Federal Home Loan Bank Advances, Interest-only Single Maturity, Maturity at October 12, 2017 [Member] | ||
Federal Home Loan Bank Advances, Maturity Date | Oct. 12, 2017 | |
Federal Home Loan Bank Advances, Contractual Term | Fixed | |
Federal Home Loan Bank Advances, Interest Rate | 2.07% | |
Long-term Federal Home Loan Bank Advances | $ 500 | 500 |
Federal Home Loan Bank Advances, Interest-only Putable, Maturity at December 7, 2017 [Member] | ||
Federal Home Loan Bank Advances, Maturity Date | Dec. 7, 2017 | |
Federal Home Loan Bank Advances, Contractual Term | Fixed | |
Federal Home Loan Bank Advances, Interest Rate | 3.24% | |
Long-term Federal Home Loan Bank Advances | $ 5,000 | 5,000 |
Federal Home Loan Bank Advances, Principal and Interest Mortgage Matched, Maturity at April 1, 2019 [Member] | ||
Federal Home Loan Bank Advances, Maturity Date | Apr. 1, 2019 | |
Federal Home Loan Bank Advances, Contractual Term | Fixed | |
Federal Home Loan Bank Advances, Interest Rate | 4.30% | |
Long-term Federal Home Loan Bank Advances | $ 181 | 240 |
Federal Home Loan Bank Advances, Interest-only Single Maturity, Maturity at January 18, 2019 [Member] | ||
Federal Home Loan Bank Advances, Maturity Date | Jan. 18, 2019 | |
Federal Home Loan Bank Advances, Contractual Term | Fixed | |
Federal Home Loan Bank Advances, Interest Rate | 1.16% | |
Long-term Federal Home Loan Bank Advances | $ 2,000 | |
Long-term Federal Home Loan Bank Advances | $ 17,281 | $ 6,240 |
Note 7 - Federal Home Loan Ba62
Note 7 - Federal Home Loan Bank Advances - Summary of the Scheduled Principal Payments (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
2,017 | $ 9,667 | |
2,018 | 5,564 | |
2,019 | 2,050 | |
Total | $ 17,281 | $ 6,240 |
Note 8 - Employee Benefit Pla63
Note 8 - Employee Benefit Plans (Details Textual) - USD ($) | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |
Allocated Share-based Compensation Expense | $ 0 | $ 0 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.50% | 4.50% |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100.00% | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% | |
Defined Contribution Plan, Cost Recognized | $ 181,000 | $ 166,000 |
Defined Benefit Plan, Accumulated Benefit Obligation | 2,020,000 | 1,893,000 |
Defined Benefit Plan, Other Costs | 191,000 | 217,000 |
Defined Benefit Plan, Contributions by Employer | 64,000 | $ 46,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 23,000 |
Note 8 - Employee Benefit Pla64
Note 8 - Employee Benefit Plans - Summary of the Restricted Stock Awards (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 12 Months Ended |
Sep. 22, 2016 | Jun. 30, 2016 | |
Subsequent Event [Member] | ||
Restricted Stock Awards, Expired (in shares) | (2,135) | |
Weighted-Average Grant Date Fair Value Per Share, Expired (in dollars per share) | $ 15.05 | |
Restricted Stock Awards, Outstanding, Ending Balance (in shares) | 1,429 | |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Ending Period (in dollars per share) | $ 15.75 | |
Restricted Stock Awards, Outstanding, Beginning Balance (in shares) | 3,564 | 7,543 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Beginning Period (in dollars per share) | $ 15.33 | $ 14.40 |
Restricted Stock Awards, Expired (in shares) | (3,266) | |
Weighted-Average Grant Date Fair Value Per Share, Expired (in dollars per share) | $ 13.19 | |
Restricted Stock Awards, Forfeited (in shares) | (713) | |
Weighted-Average Grant Date Fair Value Per Share, Forfeited (in dollars per share) | $ 15.28 | |
Restricted Stock Awards, Outstanding, Ending Balance (in shares) | 3,564 | |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Ending Period (in dollars per share) | $ 15.33 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $ 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 0 | $ 0 |
Note 9 - Income Taxes - Provisi
Note 9 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Current income taxes | $ 421 | $ 740 |
Deferred income tax benefit | (142) | (22) |
Income Tax Expense (Benefit) | $ 279 | $ 718 |
Note 9 - Income Taxes - Net Def
Note 9 - Income Taxes - Net Deferred Income Tax Asset (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Allowance for loan losses | $ 1,082 | $ 704 |
Deferred compensation | 721 | 707 |
Recognized loss on impairment of security | 265 | 265 |
AMT credit carryforward | 143 | |
Deferred income | 140 | |
OREO deferred gain | 13 | 14 |
Non-accrual loan interest income | 72 | 65 |
Gross deferred tax asset | 2,436 | 1,755 |
Depreciation | (761) | (223) |
Loan fees | (279) | (248) |
Prepaid expenses | (91) | (121) |
FHLB stock dividends | (166) | (166) |
Net unrealized securities gain | (1,231) | (463) |
Gross deferred tax liabilities | (2,528) | (1,221) |
Net deferred asset (liability) | $ (92) | |
Net deferred asset (liability) | $ 534 |
Note 9 - Income Taxes - Schedul
Note 9 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Income taxes computed at the statutory rate on pretax income | $ 825 | $ 1,250 |
Tax exempt income | (491) | (483) |
Cash surrender value income | (65) | (62) |
Other | 10 | 13 |
us-gaap_IncomeTaxExpenseBenefit | $ 279 | $ 718 |
Note 10 - Regulatory Matters (D
Note 10 - Regulatory Matters (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2019 | Jan. 01, 2016 | Jun. 30, 2016 |
Scenario, Forecast [Member] | |||
Percentage of Capital Implementation | 2.50% | ||
Percentage of Capital Implementation | 0.625% | ||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 3,515 |
Note 10 - Regulatory Matters -
Note 10 - Regulatory Matters - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 |
Common Equity Tier One Risk Based Capital | $ 39,400 | $ 38,500 |
Common Equity Tier One Risk Based Capital to Risk Weighted Assets | 13.37% | 14.40% |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy | $ 15,100 | $ 12,000 |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 5.125% | 4.50% |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized | $ 19,100 | $ 17,400 |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Tier One Risk Based Capital | $ 39,400 | $ 38,500 |
Tier One Risk Based Capital to Risk Weighted Assets | 13.37% | 14.40% |
Tier One Risk Based Capital Required for Capital Adequacy | $ 19,500 | $ 16,100 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.625% | 6.00% |
Tier One Risk Based Capital Required to be Well Capitalized | $ 23,600 | $ 21,400 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% |
Capital | $ 42,900 | $ 41,000 |
Capital to Risk Weighted Assets | 14.58% | 15.30% |
Capital Required for Capital Adequacy | $ 25,400 | $ 21,400 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.625% | 8.00% |
Capital Required to be Well Capitalized | $ 29,400 | $ 26,800 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Leverage Capital | $ 39,400 | $ 38,500 |
Tier One Leverage Capital to Average Assets | 9.25% | 9.50% |
Tier One Leverage Capital Required for Capital Adequacy | $ 17,000 | $ 16,200 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Tier One Leverage Capital Required to be Well Capitalized | $ 21,300 | $ 20,200 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Note 11 - Commitments with Of71
Note 11 - Commitments with Off-balance Sheet Risk (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Minimum [Member] | ||
Loans and Leases Receivable Commitments Variable Rates Percentage | 2.00% | 2.00% |
Loans and Leases Receivable Commitments Fixed Rates Percentage | 3.10% | 2.25% |
Maximum [Member] | ||
Loans and Leases Receivable Commitments Variable Rates Percentage | 7.50% | 7.25% |
Loans and Leases Receivable Commitments Fixed Rates Percentage | 5.99% | 6.00% |
Financial Standby Letter of Credit [Member] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 1,032 | $ 890 |
Commitments to Extend Credit [Member] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 7,829 | 7,676 |
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | 46,696 | 43,135 |
Loans and Leases Receivable, Commitments, Variable Rates | 44,228 | 36,502 |
Loans and Leases Receivable, Commitments, Fixed Rates | $ 2,468 | $ 6,633 |
Note 12 - Fair Value (Details T
Note 12 - Fair Value (Details Textual) - USD ($) | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Collateral Dependent Loans [Member] | ||
Impaired Financing Receivable, Related Allowance | $ 747,000 | $ 0 |
Impaired Financing Receivable, Unpaid Principal Balance | 2,150,000 | 1,983,000 |
Provision for Loan and Lease Losses | 1,010,000 | 313,000 |
Impaired Financing Receivable, Related Allowance | 874,000 | 70,000 |
Impaired Financing Receivable, Unpaid Principal Balance | 7,416,000 | 3,864,000 |
Provision for Loan and Lease Losses | $ 1,498,000 | $ 430,000 |
Note 12 - Fair Value - Assets a
Note 12 - Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 10,044 | 16,558 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities, available-for-sale | 10,044 | 16,558 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 55,954 | 48,963 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities, available-for-sale | 55,954 | 48,963 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | ||
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 59,596 | 64,914 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
Residential Mortgage Backed Securities [Member] | ||
Securities, available-for-sale | 59,596 | 64,914 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | ||
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 1,526 | 1,486 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
Commercial Mortgage Backed Securities [Member] | ||
Securities, available-for-sale | 1,526 | 1,486 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | ||
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 5,820 | 4,683 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities, available-for-sale | 5,820 | 4,683 |
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | ||
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 429 | 540 |
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Securities, available-for-sale | 429 | 540 |
Securities, available-for-sale | $ 133,369 | $ 137,144 |
Note 12 - Fair Value - Financia
Note 12 - Fair Value - Financial Assets and Liabilities Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Commercial Real Estate - Other [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | ||
Commercial Real Estate - Other [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | ||
Commercial Real Estate - Other [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,206 | 1,983 |
Commercial Real Estate - Other [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,206 | $ 1,983 |
Residential Real Estate Non-owner Occupied Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | ||
Residential Real Estate Non-owner Occupied Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | ||
Residential Real Estate Non-owner Occupied Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 197 | |
Residential Real Estate Non-owner Occupied Loans [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 197 |
Note 12 - Fair Value - Quantita
Note 12 - Fair Value - Quantitative Information about Level 3 Fair Value Measurements (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Commercial Real Estate - Other [Member] | Settlement Contract [Member] | Weighted Average [Member] | ||
Discount Rate | 0.00% | 91.80% |
Commercial Real Estate - Other [Member] | Settlement Contract [Member] | ||
Fair Value | $ 459 | $ 4 |
Valuation Technique | Settlement Contract | Settlement Contract |
Unobservable Inputs | N/A | Adjustment for difference between loan balance and settlement value |
Discount Rate | 0.00% | (91.80%) |
Commercial Real Estate - Other [Member] | Income Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount Rate | 40.00% | |
Commercial Real Estate - Other [Member] | Income Approach Valuation Technique [Member] | ||
Fair Value | $ 733 | |
Valuation Technique | Income approach | |
Unobservable Inputs | Liquidation adjustment for distressed sales | |
Discount Rate | (40.00%) | |
Commercial Real Estate - Other [Member] | Bid Indications [Member] | Weighted Average [Member] | ||
Discount Rate | 0.00% | |
Commercial Real Estate - Other [Member] | Bid Indications [Member] | ||
Fair Value | $ 127 | |
Valuation Technique | Bid Indications | |
Unobservable Inputs | N/A | |
Discount Rate | 0.00% | |
Commercial Real Estate - Other [Member] | Cost Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount Rate | 40.00% | |
Commercial Real Estate - Other [Member] | Cost Approach Valuation Technique [Member] | ||
Fair Value | $ 125 | |
Valuation Technique | Cost approach | |
Unobservable Inputs | Liquidation adjustment for distressed sales | |
Discount Rate | (40.00%) | |
Commercial Real Estate - Other [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount Rate | 11.70% | |
Commercial Real Estate - Other [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | ||
Discount Rate | 82.90% | |
Commercial Real Estate - Other [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | ||
Discount Rate | (71.60%) | |
Commercial Real Estate - Other [Member] | Market Approach Valuation Technique [Member] | ||
Fair Value | $ 1,121 | |
Valuation Technique | Sales comparison approach | |
Unobservable Inputs | Adjustment for differences between comparable sales | |
Commercial Real Estate Other 2 [Member] | Bid Indications [Member] | Weighted Average [Member] | ||
Discount Rate | 0.00% | |
Commercial Real Estate Other 2 [Member] | Bid Indications [Member] | ||
Fair Value | $ 620 | |
Valuation Technique | Bid Indications | |
Unobservable Inputs | N/A | |
Discount Rate | 0.00% | |
Residential Real Estate Non-owner Occupied Loans [Member] | Bid Indications [Member] | Weighted Average [Member] | ||
Discount Rate | 0.00% | |
Residential Real Estate Non-owner Occupied Loans [Member] | Bid Indications [Member] | ||
Fair Value | $ 197 | |
Valuation Technique | Bid Indications | |
Unobservable Inputs | N/A | |
Discount Rate | 0.00% |
Note 12 - Fair Value - Estimate
Note 12 - Fair Value - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and cash equivalents | $ 10,181 | $ 10,544 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 10,181 | 10,544 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Demand and Savings Deposits [Member] | ||
Demand and savings deposits | 281,640 | 266,635 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Time Deposits [Member] | ||
Demand and savings deposits | 65,008 | 66,361 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Certificates of deposits in other financial institutions | 5,906 | 4,470 |
Loans held for sale | 1,048 | 462 |
Accrued interest receivable | 1,077 | 1,035 |
Short-term borrowings | 19,129 | 19,838 |
Federal Home Loan Bank advances | 17,281 | 6,240 |
Accrued interest payable | 40 | 41 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Demand and Savings Deposits [Member] | ||
Demand and savings deposits | 281,640 | 266,635 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Demand and savings deposits | 65,111 | 66,498 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Certificates of deposits in other financial institutions | 5,906 | 4,456 |
Loans held for sale | 1,067 | 468 |
Accrued interest receivable | 1,077 | 1,035 |
Short-term borrowings | 19,129 | 19,838 |
Federal Home Loan Bank advances | 17,486 | 6,537 |
Accrued interest payable | 40 | 41 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Held-to-maturity, fair value | 3,494 | 3,655 |
Loans, net | 252,712 | 226,087 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Held-to-maturity, fair value | 3,619 | 3,722 |
Loans, net | 253,155 | 226,915 |
Held-to-maturity, fair value | $ 3,619 | $ 3,722 |
Note 13 - Parent Company Fina77
Note 13 - Parent Company Financial Statements - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Parent Company [Member] | |||
Cash | $ 46 | $ 54 | |
Available-for-sale Securities, Debt Securities | 2,050 | 1,986 | |
Other assets | 50 | 15 | |
Investment in subsidiary | 41,708 | 39,421 | |
Total assets | 43,854 | 41,476 | |
Other liabilities | 61 | 10 | |
Shareholders’ equity | 43,793 | 41,466 | |
Total liabilities & shareholders’ equity | 43,854 | 41,476 | |
Available-for-sale Securities, Debt Securities | 133,369 | 137,144 | |
Total assets | 430,390 | 403,967 | |
Shareholders’ equity | 43,793 | 41,466 | $ 40,203 |
Total liabilities & shareholders’ equity | $ 430,390 | $ 403,967 |
Note 13 - Parent Company Fina78
Note 13 - Parent Company Financial Statements - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Parent Company [Member] | ||
Cash dividends from Bank subsidiary | $ 1,425 | $ 1,360 |
Other income | 46 | 45 |
Other expense | 206 | 224 |
Income before income taxes and equity in undistributed net income of subsidiary | 1,265 | 1,181 |
us-gaap_IncomeTaxExpenseBenefit | (50) | (57) |
Income before equity in undistributed net income of Bank subsidiary | 1,315 | 1,238 |
Equity in undistributed net income of subsidiary | 832 | 1,720 |
Net income | 2,147 | 2,958 |
Comprehensive income | 3,637 | 2,574 |
Income before income taxes and equity in undistributed net income of subsidiary | 2,426 | 3,676 |
us-gaap_IncomeTaxExpenseBenefit | 279 | 718 |
Net income | 2,147 | 2,958 |
Comprehensive income | $ 3,637 | $ 2,574 |
Note 13 - Parent Company Fina79
Note 13 - Parent Company Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Parent Company [Member] | ||
Net income | $ 2,147 | $ 2,958 |
Equity in undistributed net income of Bank subsidiary | (832) | (1,720) |
Securities amortization and accretion, net | (11) | |
Change in other assets and liabilities | (2) | 31 |
Net cash flows from operating activities | 1,302 | 1,269 |
Proceeds from sales | (739) | |
Maturities, calls and principal pay downs of available-for-sale securities | 750 | |
Net cash flows from investing activities | 11 | |
Dividend paid | (1,310) | (1,311) |
Net cash flows from financing activities | (1,310) | (1,311) |
Change in cash and cash equivalents | (8) | (31) |
Cash and cash equivalents, beginning of year | 54 | 85 |
Cash and cash equivalents, end of year | 46 | 54 |
Net income | 2,147 | 2,958 |
Securities amortization and accretion, net | 1,092 | 1,009 |
Net cash flows from operating activities | 3,851 | 5,606 |
Proceeds from sales | 10,596 | 16,124 |
Maturities, calls and principal pay downs of available-for-sale securities | 24,285 | 27,047 |
Net cash flows from investing activities | (26,888) | (24,268) |
Net cash flows from financing activities | 22,674 | 18,081 |
Change in cash and cash equivalents | (363) | (581) |
Cash and cash equivalents, beginning of year | 10,544 | 11,125 |
Cash and cash equivalents, end of year | $ 10,181 | $ 10,544 |
Note 14 - Earnings Per Share -
Note 14 - Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Net income available to common shareholders | $ 2,147 | $ 2,958 |
Weighted average common shares outstanding (in shares) | 2,725,276 | 2,726,304 |
Basic income per share (in dollars per share) | $ 0.79 | $ 1.09 |
Net income available to common shareholders | $ 2,147 | $ 2,958 |
Weighted average common shares outstanding (in shares) | 2,725,276 | 2,726,304 |
Dilutive effect of restricted stock (in shares) | 103 | 273 |
Total common shares and dilutive potential common shares (in shares) | 2,725,379 | 2,726,577 |
Dilutive income per share (in dollars per share) | $ 0.79 | $ 1.08 |
Note 15 - Accumulated Other C81
Note 15 - Accumulated Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Accumulated other comprehensive income (loss), before tax | $ 3,621 | $ 1,363 | $ 1,944 | |
Accumulated other comprehensive income (loss), tax | 1,232 | (464) | (661) | |
Accumulated other comprehensive income (loss), net | 2,389 | 899 | 1,283 | |
Unrealized gains (loss) arising during the period | 2,460 | (421) | ||
Unrealized holding loss on available-for-sale securities arising during the period | 837 | 143 | ||
Unrealized holding loss on available-for-sale securities arising during the period | 1,623 | (278) | ||
Reclassification adjustment for gains included in income | [1],[2] | (202) | (160) | |
Amounts reclassified from accumulated other comprehensive income | [1],[2] | (69) | 54 | |
Amounts reclassified from accumulated other comprehensive income | [1],[2] | (133) | (106) | |
Net current period other comprehensive loss | 2,258 | (581) | ||
Net current period other comprehensive loss | 768 | 197 | ||
Other comprehensive loss | 1,490 | (384) | ||
Unrealized holding gain on available-for-sale securities arising during the period | (837) | (143) | ||
Amounts reclassified from accumulated other comprehensive income | [1],[2] | 69 | (54) | |
Net current period other comprehensive gain | (768) | (197) | ||
Accumulated other comprehensive income (loss), tax | $ (1,232) | $ 464 | $ 661 | |
[1] | Income tax expense | |||
[2] | Securities gain, net |