Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2019 | Sep. 06, 2019 | Dec. 31, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | CONSUMERS BANCORP INC /OH/ | ||
Entity Central Index Key | 0001006830 | ||
Trading Symbol | cbkm | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 2,733,845 | ||
Entity Public Float | $ 46,638,402 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(g) Security | Common Stock |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
ASSETS: | ||
Cash on hand and noninterest-bearing deposits in financial institutions | $ 9,322 | $ 7,615 |
Federal funds sold and interest-bearing deposits in financial institutions | 139 | 157 |
Total cash and cash equivalents | 9,461 | 7,772 |
Certificate of deposits in financial institutions | 1,983 | 2,973 |
Securities, available-for-sale | 144,010 | 144,028 |
Securities, held-to-maturity (fair value 2019 $3,821 and 2018 $4,048) | 3,786 | 4,024 |
Federal bank and other restricted stocks, at cost | 1,723 | 1,459 |
Loans held for sale | 1,657 | 1,448 |
Total loans | 369,175 | 318,509 |
Less allowance for loan losses | (3,788) | (3,422) |
Net loans | 365,387 | 315,087 |
Cash surrender value of life insurance | 9,606 | 9,335 |
Premises and equipment, net | 14,155 | 13,315 |
Accrued interest receivable and other assets | 2,168 | 3,178 |
Total assets | 553,936 | 502,619 |
LIABILITIES: | ||
Noninterest-bearing demand | 116,239 | 107,919 |
Interest bearing demand | 81,469 | 81,299 |
Savings | 162,261 | 162,204 |
Time | 112,205 | 78,541 |
Total deposits | 472,174 | 429,963 |
Short-term borrowings | 3,686 | 13,367 |
Federal Home Loan Bank advances | 22,700 | 11,756 |
Accrued interest payable and other liabilities | 4,210 | 3,772 |
Total liabilities | 502,770 | 458,858 |
Commitments and contingent liabilities (Note 13) | ||
SHAREHOLDERS’ EQUITY: | ||
Preferred stock, no par value; 350,000 shares authorized | 0 | 0 |
Common shares, no par value; 3,500,000 shares authorized; 2,854,133 shares issued as of June 30, 2019 and 2018 | 14,656 | 14,630 |
Retained earnings | 36,487 | 32,342 |
Treasury stock, at cost (120,288 and 124,489 common shares at June 30, 2019 and 2018, respectively) | (1,543) | (1,576) |
Accumulated other comprehensive income (loss) | 1,566 | (1,635) |
Total shareholders’ equity | 51,166 | 43,761 |
Total liabilities and shareholders’ equity | $ 553,936 | $ 502,619 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Held-to-maturity securities, fair value | $ 3,821 | $ 4,048 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 350,000 | 350,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
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) | 120,288 | 124,489 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Interest income: | ||
Loans, including fees | $ 16,590 | $ 13,937 |
Securities, taxable | 2,192 | 1,916 |
Securities, tax-exempt | 1,584 | 1,472 |
Federal bank and other restricted stocks | 86 | 81 |
Federal funds sold and interest-bearing deposits | 93 | 151 |
Total interest and dividend income | 20,545 | 17,557 |
Interest expense: | ||
Deposits | 2,786 | 1,210 |
Short-term borrowings | 51 | 240 |
Federal Home Loan Bank advances | 319 | 221 |
Total interest expense | 3,156 | 1,671 |
Net interest income | 17,389 | 15,886 |
Provision for loan losses | (440) | 310 |
Net interest income after provision for loan losses | 17,829 | 15,576 |
Other income: | ||
Noninterest income (in scope of Topic 606) | 2,978 | 2,721 |
Bank owned life insurance income | 271 | 270 |
Gain on sale of mortgage loans | 458 | 367 |
Securities gains, net | 561 | 33 |
Other | 260 | 188 |
Total other income | 4,268 | 3,391 |
Other expenses: | ||
Salaries and employee benefits | 8,355 | 7,692 |
Occupancy and equipment | 2,096 | 1,867 |
Data processing expenses | 621 | 601 |
Professional and director fees | 799 | 523 |
Federal Deposit Insurance Corporation assessments | 149 | 168 |
Franchise taxes | 361 | 343 |
Marketing and advertising | 424 | 308 |
Loan and collection expenses | 101 | 117 |
Telephone and communications | 268 | 307 |
Debit card processing expenses | 765 | 754 |
Other | 1,579 | 1,557 |
Total other expenses | 15,518 | 14,237 |
Income before income taxes | 6,579 | 4,730 |
Income tax expense | 1,013 | 1,149 |
Net income | $ 5,566 | $ 3,581 |
Basic and diluted earnings per share (in dollars per share) | $ 2.04 | $ 1.31 |
Deposit Account [Member] | ||
Other income: | ||
Noninterest income (in scope of Topic 606) | $ 1,264 | $ 1,200 |
Debit Card [Member] | ||
Other income: | ||
Noninterest income (in scope of Topic 606) | $ 1,454 | $ 1,333 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | ||
Net income | $ 5,566 | $ 3,581 | |
Other comprehensive income, net of tax: | |||
Unrealized gains (losses) arising during the period | 4,612 | (2,711) | |
Reclassification adjustment for gains included in income | [1],[2] | (561) | (33) |
Net unrealized gain (loss) | 4,051 | (2,744) | |
Income tax effect | (850) | 650 | |
Other comprehensive income (loss) | 3,201 | (2,094) | |
Total comprehensive income | $ 8,767 | $ 1,487 | |
[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, 2017 | $ 14,630 | $ 30,122 | $ (1,662) | $ 445 | $ 43,535 |
Net income | 3,581 | 3,581 | |||
Other comprehensive loss | (2,094) | (2,094) | |||
Reclassification of disproportionate income tax effects | (14) | 14 | |||
Value of shares issued associated with stock awards | 90 | 90 | |||
204 Dividend reinvestment plan shares associated with expired and forfeited restricted stock awards retired to treasury | 4 | (4) | |||
Cash dividends declared | (1,351) | (1,351) | |||
Balance at Jun. 30, 2018 | 14,630 | 32,342 | (1,576) | (1,635) | 43,761 |
Net income | 5,566 | 5,566 | |||
Other comprehensive loss | 3,201 | 3,201 | |||
Value of shares issued associated with stock awards | 26 | 33 | 59 | ||
Cash dividends declared | (1,421) | (1,421) | |||
Balance at Jun. 30, 2019 | $ 14,656 | $ 36,487 | $ (1,543) | $ 1,566 | $ 51,166 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Shares associated with stock awards (in shares) | 2,614 | 6,321 |
Dividends reinvestment plan and restricted award forfeited and expired (in shares) | 204 | |
Common stock, dividends, per share, declared (in dollars per share) | $ 0.52 | $ 0.495 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 5,566 | $ 3,581 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation | 797 | 771 |
Securities amortization and accretion, net | 784 | 963 |
Provision for loan losses | (440) | 310 |
Gain on disposal of fixed assets | (11) | (6) |
Loss on disposition or direct write-down of other real estate owned | 2 | |
Net gain on sale of loans | (458) | (367) |
Deferred income tax expense | 173 | 462 |
Gain on sale of securities | (561) | (33) |
Origination of loans held for sale | (29,473) | (22,336) |
Proceeds from loans held for sale | 29,797 | 22,760 |
Increase in cash surrender value of life insurance | (271) | (270) |
Change in other assets and other liabilities | 483 | 14 |
Net cash flows from operating activities | 6,386 | 5,851 |
Securities available-for-sale: | ||
Purchases | (22,914) | (23,878) |
Maturities, calls and principal pay downs | 19,091 | 15,618 |
Proceeds from sales of available-for-sale securities | 7,670 | 2,644 |
Securities held-to-maturity: | ||
Principal pay downs | 238 | 235 |
Net decrease in certificates of deposit with other financial institutions | 990 | 948 |
Purchase of Federal Home Loan Stock | (264) | (34) |
Net increase in loans | (49,935) | (45,869) |
Acquisition of premises and equipment | (1,671) | (688) |
Disposal of premises and equipment | 45 | 6 |
Proceeds from sale of other real estate owned | 69 | |
Net cash flows from investing activities | (46,750) | (50,949) |
Cash flows from financing activities: | ||
Net increase in deposit accounts | 42,211 | 55,492 |
Proceeds from Federal Home Loan Bank advances | 13,000 | 2,700 |
Repayments of Federal Home Loan Bank advances | (2,056) | (3,264) |
Change in short-term borrowings | (9,681) | (10,619) |
Dividends paid | (1,421) | (1,351) |
Net cash flows from financing activities | 42,053 | 42,958 |
Increase (decrease) in cash and cash equivalents | 1,689 | (2,140) |
Cash and cash equivalents, beginning of year | 7,772 | 9,912 |
Cash and cash equivalents, end of year | $ 9,461 | $ 7,772 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1—SUMMARY Principles of Consolidation: The consolidated financial statements include the accounts of Consumers Bancorp, Inc. (Corporation) and its wholly owned subsidiary, Consumers National Bank (Bank), together referred to as the Corporation. All significant intercompany transactions have been eliminated in the consolidation. Nature of Operations: Consumers Bancorp, Inc. is a bank holding company headquartered in Minerva, Ohio that provides, through its banking subsidiary, a broad array of products and services throughout its primary market area of Carroll, Columbiana, Jefferson, 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: The Corporation is engaged in the business of commercial and retail banking, which accounts for substantially all of its revenues, operating income, and assets. Accordingly, all of its operations are reported in one segment, banking. Use of Estimates: To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Cash Flows: Cash and cash equivalents include cash, deposits with other financial institutions with original maturities of less than 90 days and federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions and short-term borrowings. Additional cash flow information was as follows: Year Ended June 30, 201 9 201 8 Cash paid for interest $ 3,092 $ 1,643 Cash paid for Federal income taxes 820 730 Non-cash transactions: Transfer from loans to repossessed assets — — Transfer from loans held for sale to portfolio 75 253 Issuance of treasury stock for stock awards 59 90 Expired and forfeited dividend reinvestment plan shares associated with restricted stock awards that were retired to treasury stock — 4 Interest–Bearing Deposits in Other Financial Institutions : Interest-bearing deposits in other financial institutions mature within one year and are carried at cost. Certificates of Deposit in Financial Institutions: Certificates of deposit in other financial institutions are carried at cost. Cash Reserves: The Bank is required to maintain cash on hand and noninterest-bearing balances on deposit with the Federal Reserve Bank to meet regulatory reserve and clearing requirements. The required reserve balance at June 30, 2019 and 2018 was $456 and $329, respectively. Securities: Securities are generally classified into either held-to-maturity or available-for-sale categories. Held-to-maturity securities are carried at amortized cost and are those the Corporation has the positive intent and ability to hold to maturity. Available-for-sale securities are those the Corporation may decide to sell before maturity if needed for liquidity, asset-liability management, or other reasons. Available-for-sale securities are reported at fair value, with unrealized gains or losses included in other comprehensive income (loss) as a separate component of equity, net of tax. 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 whether 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: The Bank is a member of the Federal Home Loan Bank (FHLB) system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock, included with Federal bank and other restricted stocks on the Consolidated Balance Sheet, is carried at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Federal Reserve Bank stock is also carried at cost. Since these stocks are viewed as a long-term investment, impairment is based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Loans Held for Sale : Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Mortgage loans held for sale are generally sold with servicing rights released. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. Loans: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs, and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. The recorded investment in loans includes accrued interest receivable. 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: Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when funded. Concentrations of Credit Risk: The Bank grants consumer, real estate and commercial loans primarily to borrowers in Carroll, Columbiana, Jefferson, Stark, Summit and Wayne counties. Therefore, the Corporation’s exposure to credit risk is significantly affected by changes in the economy in these counties. Automobiles and other consumer assets, business assets and residential and commercial real estate secure most loans. Allowance for Loan Losses: The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required based on past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged-off. 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 two -year or three -year period, depending on loan segment. This actual loss experience is supplemented with economic and other factors based on the risks present for each portfolio segment. These 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 made for a wide variety of general business purposes, including financing for equipment, inventories and accounts receivable. The term of each commercial loan varies by its purpose. 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 made based 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: Commercial real estate loans include mortgage loans to farmers, owners of multi-family investment properties, developers and owners of commercial real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally largely dependent on the successful operation of the property securing the loan, the business conducted on the property securing the loan or, in the case of loans to farmers, management and operation of the farm. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Corporation’s commercial real estate portfolio are diverse in terms of type and geographic location. This diversity helps reduce the Corporation’s exposure to adverse economic events that affect any single market or industry. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus nonowner-occupied loans. 1 - 4 Family Residential Real Estate : Residential real estate loans are secured by one to four family residential properties and include both owner occupied, non-owner occupied and home equity loans. Credit approval for residential real estate loans requires demonstration of sufficient income to repay the principal and interest and the real estate taxes and insurance, stability of employment, an established credit record and an appropriately appraised value of the real estate securing the loan that generally requires that the residential real estate loan amount be no more than 85% of the purchase price or the appraised value of the real estate securing the loan unless the borrower provides private mortgage insurance. Consumer : The Corporation originates direct and indirect consumer loans, primarily automobile loans, personal lines of credit, and unsecured consumer loans in its primary market areas. Credit approval for consumer loans requires income sufficient to repay principal and interest due, stability of employment, an established credit record and sufficient collateral for secured loans. Consumer loans typically have shorter terms and lower balances with higher yields as compared to real estate mortgage loans, but generally carry higher risks of default. Consumer loan collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be affected by adverse personal circumstances. Other Real Estate Owned: Real estate properties acquired through, or in lieu of, loan foreclosure are initially recorded at fair value less costs to sell at the date of acquisition, establishing a new cost basis. Any reduction to fair value from the carrying value of the related loan at the time of acquisition is accounted for as a loan loss. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If the fair value declines after acquisition, a valuation allowance is recorded as a charge to income. Operating costs after acquisition are expensed. Gains and losses on disposition are reported as a charge to income. Transfers of Financial Assets: Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Corporation, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Corporation does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed primarily using the straight-line method over the estimated useful life of the owned asset and, for leasehold improvements, generally over the lesser of the remaining term of the lease facility or the estimated economic life of the improvement. Useful lives range from three years for software to thirty-nine and one -half years for buildings. Cash Surrender Value of Life Insurance: The Bank has purchased single-premium life insurance policies to insure the lives of current and former participants in the salary continuation plan. As of June 30, 2019, the Bank had policies with total death benefits of $19,806 and total cash surrender values of $9,606. As of June 30, 2018, the Bank had policies with total death benefits of $19,776 and total cash surrender values of $9,335. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Tax-exempt income is recognized from the periodic increases in cash surrender value of these policies. Long- T erm Assets: Premises, equipment and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. Repurchase Agreements: Substantially all repurchase agreement liabilities, which are classified as short-term borrowings, represent amounts advanced by various customers. Securities are pledged to cover these liabilities, which are not covered by federal deposit insurance. Retirement Plans: The Bank maintains a 401 (k) savings and retirement plan covering all eligible employees and matching contributions are expensed as made. Salary continuation plan expense allocates the benefits over years of service. Income Taxes: The Corporation files a consolidated federal income tax return. Income tax expense is the sum of the current-year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax consequences of temporary differences between the carrying amounts and tax basis of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. The Corporation applies a more likely than not recognition threshold for all tax uncertainties in accordance with U.S. generally accepted accounting principles. A tax position is recognized as a benefit only if it is more likely than not that the position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit greater than 50% likely of being realized on examination. The Corporation recognizes interest and/or penalties related to income tax matters in income tax expense. Earnings per Common Share: Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable upon the vesting of restricted stock awards. Stock-Based Compensation: Compensation cost is recognized for restricted stock awards issued to employees over the required service period, generally defined as the vesting period. The fair value of restricted stock awards is estimated by using the market price of the Corporation’s common stock at the date of grant. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Comprehensive Income: Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available-for-sale, which are also recognized as a separate component of equity, net of tax. Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are such matters that will have a material effect on the Corporation’s financial statements. Fair Value of Financial Instruments: Fair value of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 14 of the Consolidated Financial Statements. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, discounted cash flows, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates. Dividend Restrictions: Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to the holding company or by the holding company to shareholders. Reclassifications: Certain reclassifications have been made to the June 30, 2018 financial statements to be comparable to the June 30, 2019 presentation. The reclassifications had no impact on prior year net income or shareholders’ equity. Recently Issued Accounting Pronouncements Not Yet Effective: In June 2016, Financial Accounting Standards Board (FASB) issued ASU 2016 - 13, Financial Instruments—Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments. This ASU adds a new Topic 326 to the codification and removes the thresholds that companies apply to measure credit losses on financial instruments measured at amortized cost, such as loans, receivables, and held-to-maturity debt securities. Under current U.S. generally accepted accounting principles, companies generally recognize credit losses when it is probable that the loss has been incurred. The revised guidance will remove all current loss recognition thresholds and will require companies to recognize an allowance for credit losses for the difference between the amortized cost basis of a financial instrument and the amount of amortized cost that the corporation expects to collect over the instrument’s contractual life. ASU 2016 - 13 also amends the credit loss measurement guidance for available-for-sale debt securities and beneficial interests in securitized financial assets. The guidance in ASU 2016 - 13 is effective for “public business entities,” as defined in the guidance, that are SEC filers for fiscal years and for interim periods within those fiscal years beginning after December 15, 2019. Early adoption of the guidance is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. However, during July 2019, FASB unanimously voted for a proposal to delay this ASU to January 2023 for smaller reporting companies. While there is a thirty -day comment period starting in August, the proposed delay is widely expected to be adopted. Management is currently evaluating the impact of the adoption of this guidance on the Corporation’s consolidated financial statements and is in the midst of gathering critical data to evaluate the impact. However, it is too early to estimate the impact. In February 2016, FASB issued ASU 2016 - 02, Leases (Topic 842 ). This ASU will require all organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Additional qualitative and quantitative disclosures will be required so that users can understand more about the nature of an entity’s leasing activities. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. The Corporation has several lease agreements, such as branch locations, which are currently considered operating leases, and therefore, not recognized on the Corporation’s consolidated condensed statements of financial condition. The Corporation expects the new guidance to require these lease agreements to now be recognized on the consolidated condensed statements of financial condition as a right-of-use asset and a corresponding lease liability. Therefore, the Corporation’s preliminary evaluation indicates the provisions of ASU No. 2016 - 02 are expected to impact the Corporation’s consolidated condensed statements of financial condition, along with our regulatory capital ratios. The definition of a lease and the cash flows required to be evaluated will change. Upon adoption of ASU 2016 - 02 on July 1, 2019, the Corporation expects to recognize right-of-use assets and related lease liabilities totaling approximately $ 582 . |
Note 2 - Acquisition
Note 2 - Acquisition | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2— ACQUISITION On June 14, 2019, 63.16 $1,200.00 50% 50% 20 $19.07 June 13, 2019, $10.3 June 30, 2019, $75 $53.1 $65.7 three second 2020, |
Note 3 - Securities
Note 3 - Securities | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 —SECURITIE S The following table summarizes the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at June 30, 2019 2018 Available-for-sale Amortized Gross Gross Fair June 30, 201 9 Obligations of U.S. government-sponsored entities and agencies $ 19,227 $ 287 $ (1 ) $ 19,513 Obligations of state and political subdivisions 56,405 1,557 (33 ) 57,929 U.S. Government-sponsored mortgage-backed securities - residential 56,309 450 (448 ) 56,311 U.S. Government-sponsored collateralized mortgage obligations - residential 10,087 198 (28 ) 10,257 Total available-for-sale securities $ 142,028 $ 2,492 $ (510 ) $ 144,010 Held-to-maturity Amortized Gross Gross Losses Fair June 30, 201 9 Obligations of state and political subdivisions $ 3,786 $ 35 $ — $ 3,821 Total held-to-maturity securities $ 3,786 $ 35 $ — $ 3,821 Available-for-sale Amortized Gross Gross Fair June 30, 201 8 Obligations of U.S. government-sponsored entities and agencies $ 16,488 $ 6 $ (372 ) $ 16,122 Obligations of state and political subdivisions 56,964 339 (713 ) 56,590 U.S. Government-sponsored mortgage-backed securities - residential 65,062 6 (1,660 ) 63,408 U.S. Government-sponsored mortgage-backed securities - commercial 1,432 — (17 ) 1,415 U.S. Government-sponsored collateralized mortgage obligations - residential 5,973 9 (216 ) 5,766 Pooled trust preferred security 178 549 — 727 Total available-for-sale securities $ 146,097 $ 909 $ (2,978 ) $ 144,028 Held-to-maturity Amortized Gross Gross Losses Fair June 30, 201 8 Obligations of state and political subdivisions $ 4,024 $ 24 $ — $ 4,048 Total held-to-maturity securities $ 4,024 $ 24 $ — $ 4,048 Proceeds from sales of available-for-sale securities during fiscal year 2019 2018 201 9 201 8 Proceeds from sales $ 7,670 $ 2,644 Gross realized gains 606 40 Gross realized losses 45 7 The income tax provision related to these net realized gains amounted to $118 2019 $12 2018. The amortized cost and fair values of debt securities at June 30, 2019 may not Available-for-sale Amortized Cost Fair Value Due in one year or less $ 9,473 $ 9,592 Due after one year through five years 15,700 15,969 Due after five years through ten years 21,774 22,179 Due after ten years 28,685 29,702 Total 75,632 77,442 U.S. Government-sponsored mortgage-backed and related securities 66,396 66,568 Total $ 142,028 $ 144,010 Held-to-maturity Amortized Cost Fair Value Due after five years through ten years $ 451 $ 471 Due after ten years 3,335 3,350 Total $ 3,786 $ 3,821 Securities with a carrying value of approximately $72,600 $71,673 June 30, 2019 2018, June 30, 2019 2018, no one 10% The following table summarizes the securities with unrealized and unrecognized losses at June 30, 2019 2018, Less than 12 Months 12 Months or more Total Available-for-sale Fair Unrealized Fair Unrealized Fair Unrealized June 30, 201 9 Obligations of U.S. government-sponsored entities and agencies $ — $ — $ 998 $ (1 ) $ 998 $ (1 ) Obligations of states and political subdivisions — — 5,201 (33 ) 5,201 (33 ) Mortgage-backed securities - residential — — 36,362 (448 ) 36,362 (448 ) Collateralized mortgage obligations - residential — — 3,277 (28 ) 3,277 (28 ) Total temporarily impaired $ — $ — $ 45,838 $ (510 ) $ 45,838 $ (510 ) Less than 12 Months 12 Months or more Total Available-for-sale Fair Unrealized Fair Unrealized Fair Unrealized June 30, 201 8 Obligations of U.S. government-sponsored entities and agencies $ 12,400 $ (224 ) $ 2,747 $ (148 ) $ 15,147 $ (372 ) Obligations of states and political subdivisions 26,775 (369 ) 7,975 (344 ) 34,750 (713 ) Mortgage-backed securities - residential 31,038 (581 ) 29,716 (1,079 ) 60,754 (1,660 ) Mortgage-backed securities - commercial 1,415 (17 ) — — 1,415 (17 ) Collateralized mortgage obligations - residential — — 4,821 (216 ) 4,821 (216 ) Total temporarily impaired $ 71,628 $ (1,191 ) $ 45,259 $ (1,787 ) $ 116,887 $ (2,978 ) 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 320, Accounting for Certain Investments in Debt and Equity Securities In determining OTTI under the ASC Topic 320 1 2 3 4 not As of June 30, 2019, 251 three 71 June 30, 2019, twelve no June 30, 2019. June 30, 2019, not not may not June 30, 2019. no June 30, 2018. |
Note 4 - Loans
Note 4 - Loans | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 —LOANS Major classifications of loans were as follows as of June 30: 201 9 201 8 Commercial $ 80,453 $ 60,995 Commercial real estate: Construction 16,120 5,394 Other 195,269 183,383 1 – 4 Family residential real estate: Owner occupied 55,941 47,433 Non-owner occupied 14,517 15,516 Construction 1,931 1,171 Consumer 5,150 4,873 Subtotal 369,381 318,765 Net deferred loan fees and costs (206 ) (256 ) Allowance for loan losses (3,788 ) (3,422 ) Net loans $ 365,387 $ 315,087 The following table presents the activity in the allowance for loan losses by portfolio segment for the year ended June 30, 2019: 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 586 $ 2,277 $ 499 $ 60 $ 3,422 Provision for loan losses 74 (498 ) (28 ) 12 (440 ) Loans charged-off — (80 ) — (36 ) (116 ) Recoveries — 876 23 23 922 Total ending allowance balance $ 660 $ 2,575 $ 494 $ 59 $ 3,788 The following table presents the activity in the allowance for loan losses by portfolio segment for the year ended June 30, 2018: 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 518 $ 2,038 $ 473 $ 57 $ 3,086 Provision for loan losses 51 202 45 12 310 Loans charged-off — (4 ) (33 ) (24 ) (61 ) Recoveries 17 41 14 15 87 Total ending allowance balance $ 586 $ 2,277 $ 499 $ 60 $ 3,422 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, 2019. $891 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 $ 2 $ 7 $ — $ — $ 9 Collectively evaluated for impairment 658 2,568 494 59 3,779 Total ending allowance balance $ 660 $ 2,575 $ 494 $ 59 $ 3,788 Recorded investment in loans: Loans individually evaluated for impairment $ 174 $ 658 $ 357 $ — $ 1,189 Loans collectively evaluated for impairment 80,413 210,709 72,591 5,164 368,877 Total ending loans balance $ 80,587 $ 211,367 $ 72,948 $ 5,164 $ 370,066 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, 2018. $732 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 $ — $ 29 $ — $ — $ 29 Collectively evaluated for impairment 586 2,248 499 60 3,393 Total ending allowance balance $ 586 $ 2,277 $ 499 $ 60 $ 3,422 Recorded investment in loans: Loans individually evaluated for impairment $ 100 $ 1,562 $ 398 $ — $ 2,060 Loans collectively evaluated for impairment 60,979 187,191 64,135 4,876 317,181 Total ending loans balance $ 61,079 $ 188,753 $ 64,533 $ 4,876 $ 319,241 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, 2019: 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 $ — $ — $ — $ 86 $ 6 $ 6 Commercial real estate: Other 580 436 — 1,051 28 28 1-4 Family residential real estate: Owner occupied 124 93 — 97 — — Non-owner occupied 297 264 — 279 — — With an allowance recorded: Commercial real estate: Other 221 222 7 226 14 14 Commercial 173 174 2 44 2 2 Total $ 1,395 $ 1,189 $ 9 $ 1,783 $ 50 $ 50 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, 2018: 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 $ 100 $ 100 $ — $ 111 $ 5 $ 5 Commercial real estate: Other 1,330 1,330 — 1,102 17 17 1-4 Family residential real estate: Owner occupied 101 101 — 71 — — Non-owner occupied 297 297 — 314 — — With an allowance recorded: Commercial real estate: Other 231 232 29 285 28 28 Total $ 2,059 $ 2,060 $ 29 $ 1,883 $ 50 $ 50 The following table presents the recorded investment in non-accrual and loans past due over 90 June 30, 2019 2018: June 30, 2019 June 30, 2018 Loans Past Due Loans Past Due Over 90 Days Over 90 Days Still Still Non-accrual Accruing Non-accrual Accruing Commercial real estate: Other $ 436 $ — $ 702 $ — 1 – 4 Family residential: Owner occupied 85 — 90 — Non-owner occupied 264 — 298 — Total $ 785 $ — $ 1,090 $ — Non-accrual loans and loans past due 90 The following table presents the aging of the recorded investment in past due loans as of June 30, 2019 Days Past Due 30 - 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ — $ — $ — $ 80,587 $ 80,587 Commercial real estate: Construction — — — — 16,075 16,075 Other 199 — — 199 195,093 195,292 1-4 Family residential: Owner occupied 40 — 80 120 56,347 56,467 Non-owner occupied — — — — 14,518 14,518 Construction — — — — 1,963 1,963 Consumer 1 — — 1 5,163 5,164 Total $ 240 $ — $ 80 $ 320 $ 369,746 $ 370,066 The above table of past due loans includes the recorded investment in non-accrual loans of $198 30 59 $80 90 $507 not The following table presents the aging of the recorded investment in past due loans as of June 30, 2018 Days Past Due 30 - 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ — $ — $ — $ 61,079 $ 61,079 Commercial real estate: Construction — — — — 5,386 5,386 Other 238 — — 238 183,129 183,367 1-4 Family residential: Owner occupied 11 — 80 91 47,738 47,829 Non-owner occupied — — — — 15,514 15,514 Construction — — — — 1,190 1,190 Consumer 7 — — 7 4,869 4,876 Total $ 256 $ — $ 80 $ 336 $ 318,905 $ 319,241 The above table of past due loans includes the recorded investment in non-accrual loans of $249 30 59 $80 90 $761 not Troubled Debt Restructurings (TDR) : The Corporation has certain loans that have been modified in order to maximize collection of loan balances. A modified loan is classified as a TDR if, for economic reasons, management grants a concession to the original terms and conditions of the loan to a borrower who is experiencing financial difficulties that it would not At June 30, 2019 2018, $725 $1,269, June 30, 2019 2018, $9 $29, During the fiscal year ended June 30, 2019, June 30, 2019, not June 30, 2019: Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Loans Investment Investment Commercial 1 $ 38 $ 176 Commercial real estate: Other 1 161 59 Total 2 $ 199 $ 235 The troubled debt restructuring described above increased the allowance for loan losses and resulted in a charge-off of $80 twelve June 30, 2019. During the fiscal year ended June 30, 2018, June 30, 2018: Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Loans Investment Investment Commercial 2 $ 518 $ 518 Commercial real estate: Other 1 512 512 Total 3 $ 1,030 $ 1,030 The troubled debt restructurings completed in the 2018 not June 30, 2018, $175 no twelve 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 Special Mention. may Substandard. not Doubtful. Loans not not $100 As of June 30, 2019, Special Not Pass Mention Substandard Doubtful Rated Commercial $ 74,393 $ 4,942 $ 1,012 $ — $ 240 Commercial real estate: Construction 16,075 — — — — Other 179,952 8,071 5,337 436 1,496 1-4 Family residential real estate: Owner occupied 2,245 — 24 5 54,193 Non-owner occupied 13,413 205 318 263 319 Construction — — — — 1,963 Consumer 32 — — — 5,132 Total $ 286,110 $ 13,218 $ 6,691 $ 704 $ 63,343 As of June 30, 2018, Special Not Pass Mention Substandard Doubtful Rated Commercial $ 59,214 $ 288 $ 1,162 $ — $ 415 Commercial real estate: Construction 5,386 — — — — Other 172,471 7,061 1,878 702 1,255 1-4 Family residential real estate: Owner occupied 2,577 — 27 11 45,214 Non-owner occupied 14,025 195 417 298 579 Construction 8 — — — 1,182 Consumer 93 — — — 4,783 Total $ 253,774 $ 7,544 $ 3,484 $ 1,011 $ 53,428 |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 —PREMISES AND EQUIPMENT Major classifications of premises and equipment were as follows as of June 30: 201 9 201 8 Land $ 1,511 $ 1,469 Land improvements 344 344 Building and leasehold improvements 13,013 12,636 Furniture, fixture and equipment 5,872 5,164 Total premises and equipment 20,740 19,613 Accumulated depreciation and amortization (6,585 ) (6,298 ) Premises and equipment, net $ 14,155 $ 13,315 Depreciation expense was $797 $771 June 30, 2019 2018, The Corporation is obligated under non-cancelable operating leases for branch properties and equipment. Rent expense incurred was $159 June 30, 2019 2018. one Twelve Months Ending June 30 2020 $ 109 2021 106 2022 96 2023 79 Thereafter 22 Total $ 412 |
Note 6 - Deposits
Note 6 - Deposits | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 6 —DEPOSITS The aggregate amount of time deposits that meet or exceed the FDIC Insurance limit of $250 $39,034 $23,018 June 30, 2019 2018, June 30, 2019 Twelve Months Ending June 30 2020 $ 69,401 2021 29,840 2022 7,396 2023 4,873 2024 515 Thereafter 180 $ 112,205 |
Note 7 - Short-term Borrowings
Note 7 - Short-term Borrowings | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 7 —SHORT-TERM BORROWINGS Short-term borrowings consisted of repurchase agreements and federal fund purchased. Information concerning all short-term borrowings at June 30, 2019 2018, one 201 9 201 8 Balance at June 30 $ 3,686 $ 13,367 Average balance during the year 3,521 24,422 Maximum month-end balance 3,975 28,621 Average interest rate during the year 1.45 % 0.98 % Weighted average rate, June 30 1.39 % 1.02 % 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. Securities available-for-sale pledged for repurchase agreements as of June 30, 2019 2018 Overnight and Continuous 201 9 201 8 U.S. government-sponsored entities and agencies pledged $ 998 $ — Residential mortgage-backed securities pledged 3,938 5,294 Total pledged $ 4,936 $ 5,294 Repurchase agreements $ 3,686 $ 4,486 Total interest expense on short-term borrowings was $51 $240 June 30, 2019 2018, |
Note 8 - Federal Home Loan Bank
Note 8 - Federal Home Loan Bank Advances | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 8 —FEDERAL HOME LOAN BANK ADVANCES A summary of Federal Home Loan Bank (FHLB) advances were as follows: June 30, 201 9 June 30, 201 8 Stated Interest Rate Range Weighted Average Weighted Average Advance Type From To Amount Rate Amount Rate Fixed rate, amortizing — % — % $ — — % $ 56 4.30 % Fixed rate 1.18 1.97 11,200 1.59 11,700 1.46 Variable rate 2.56 2.56 11,500 2.56 — — Each fixed rate advance has a prepayment penalty equal to the present value of 100% Twelve Months Ending June 30 Principal 2020 $ 13,000 2021 1,500 2022 1,700 2023 — Thereafter 6,500 Total $ 22,700 Pursuant to collateral agreements with the FHLB, advances are secured by all the stock invested in the FHLB and certain qualifying first $61,812 $53,572 first June 30, 2019 2018, $23,283 June 30, 2019. |
Note 9 - Employee Benefit Plans
Note 9 - Employee Benefit Plans | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | NOTE 9 —EMPLOYEE BENEFIT PLANS The Bank maintains a 401 100% 4% six 21 $236 $206 June 30, 2019 2018, The Bank maintains a nonqualified Salary Continuation Plan (SCP) to reward and encourage certain Bank executives to remain employees of the Bank. The SCP is considered an unfunded plan for tax and Employee Retirement Income Security Act (ERISA) purposes and all obligations arising under the SCP are payable from the general assets of the Corporation. The estimated present value of future benefits to be paid to certain current and former executives totaled $2,475 June 30, 2019 $2,321 June 30, 2018 June 30, 2019 2018 4.5% June 30, 2019 2018, $230 $225, $76 $56 June 30, 2019 2018, The 2010 2010 2010 2010 2010 Under the 2010 may 2010 The Corporation has granted restricted stock awards to certain employees and directors. Restricted stock awards are issued at no 25% 25% three not 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, 2018 2,062 $ 21.00 Granted 4,201 23.40 Vested (2,614 ) 22.77 Non-vested at June 30, 2019 3,649 $ 22.49 There was $74 2019 $101 2018 June 30, 2019, $57 three |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 10 —INCOME TAXES On December 22, 2017, 21.0% 35.0%. June 30 27.55% June 30, 2018, 21.0% June 30, 21.0% 2019 27.55% 2018 201 9 201 8 Current income taxes $ 840 $ 687 Deferred income tax expense 173 114 Change in corporate tax rate — 348 Total income tax expense $ 1,013 $ 1,149 The reduction of the corporate tax rate required the Corporation to revalue its deferred tax assets and liabilities during the 2018 21.0%. 2018 $348 June 30: 201 9 201 8 Deferred tax assets: Allowance for loan losses $ 701 $ 632 Deferred compensation 616 514 Recognized loss on impairment of security — 164 Deferred income 55 68 Non-accrual loan interest income 50 42 Other 7 — Net unrealized securities loss — 435 Gross deferred tax asset 1,429 1,855 Deferred tax liabilities: Depreciation (645 ) (489 ) Loan fees (278 ) (238 ) FHLB stock dividends (102 ) (102 ) Prepaid expenses (42 ) (56 ) Net unrealized securities gain (416 ) — Gross deferred tax liabilities (1,483 ) (885 ) Net deferred asset (liability) $ (54 ) $ 970 The difference between the provision for income taxes and amounts computed by applying the statutory income tax rate of 21.0% 2019 27.55% 2018 June 30: 201 9 201 8 Income taxes computed at the statutory rate on pretax income $ 1,382 $ 1,303 Tax exempt income (319 ) (408 ) Cash surrender value income (57 ) (75 ) Tax credit (28 ) (27 ) Change in corporate tax rate — 348 Other non-deductible expenses 35 8 Total income tax expense $ 1,013 $ 1,149 The effective tax rate was 15.4% June 30, 2019 24.3% June 30, 2018. June 30, 2019 June 30, 2018, no not twelve no June 30, 2019 2018 no June 30, 2019 2018. 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 2015. |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 1 1 —RELATED PARTY TRANSACTIONS In the ordinary course of business, the Bank has granted loans to certain executive officers, directors and their affiliates. A summary of activity during the year ended June 30, 2019 Principal balance, July 1 $ 11,138 New loans, net of refinancing 687 Repayments (1,195 ) Changes due to changes in related parties (68 ) Principal balance, June 30 $ 10,562 Deposits from executive officers, directors and their affiliates totaled $3,800 June 30, 2019 $5,897 June 30, 2018. |
Note 12 - Regulatory Matters
Note 12 - Regulatory Matters | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 1 2 —REGULATORY MATTERS Banks and bank holding companies are 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. The prompt corrective action regulations provide five not As of fiscal year-end 2019 2018, January 1, 2015 0.625% January 1, 2016 2.5% January 1, 2019. 2019 2.50% 2018 1.875%. 1 not June 30, 2019, The following table presents actual and required capital ratios as of June 30, 2019 June 30, 2018 Actual Minimum Capital Required – Basel III (1) Minimum Required To Be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio June 30, 2019 Common equity Tier 1 to risk-weighted assets $ 48.0 11.68 % $ 18.5 4.50 % $ 26.7 6.50 % Tier 1 capital to risk weighted assets 48.0 11.68 24.6 6.00 32.9 8.00 Total capital to risk weighted assets 51.8 12.60 32.9 8.00 41.1 10.00 Tier 1 capital to average assets 48.0 8.88 21.6 4.00 27.0 5.00 Actual Minimum Capital Required - Basel III (1) Minimum Required To Be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio June 30, 201 8 Common equity Tier 1 to risk-weighted assets $ 43.7 12.20 % $ 16.1 4.50 % $ 23.3 6.50 % Tier 1 capital to risk weighted assets 43.7 12.20 21.5 6.00 28.7 8.00 Total capital to risk weighted assets 47.1 13.15 28.7 8.00 35.8 10.00 Tier 1 capital to average assets 43.7 8.74 20.0 4.00 25.0 5.00 ( 1 These amounts exclude the capital conservation buffer. As of the latest regulatory examination, the Bank was categorized as well capitalized. There are no may 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 may two June 30, 2019 $7,286. |
Note 13 - Commitments With Off-
Note 13 - Commitments With Off-balance Sheet Risk | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments with Off-Balance Sheet Risk Disclosure [Text Block] | NOTE 1 3 —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 that there are no 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 $83,702 $62,764 June 30, 2019 2018, June 30, 2019 $67,722 $15,980 3.50% 6.75% July 2019 July 2050. June 30, 2018 $53,082 $9,682 3.375% 6.50% August 2018 June 2048. $2,563 June 30, 2019 $1,090 June 30, 2018. $8,840 $8,493 June 30, 2019 2018, not |
Note 14 - Fair Value
Note 14 - Fair Value | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 1 4 —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 may Level 1: Level 2: 1 not Level 3: Financial assets and financial liabilities measured at fair value on a recurring basis include the following: Securities available-for-sale: 1 not 2 not 3 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, 2019 Using Balance at June 30, 2019 Level 1 Level 2 Level 3 Assets: Securities available-for-sale: Obligations of government-sponsored entities $ 19,513 $ — $ 19,513 $ — Obligations of states and political subdivisions 57,929 — 57,929 — Mortgage-backed securities - residential 56,311 — 56,311 — Collateralized mortgage obligations 10,257 — 10,257 — Fair Value Measurements at June 30, 2018 Using Balance at June 30, 2018 Level 1 Level 2 Level 3 Securities available-for-sale: Obligations of government-sponsored entities $ 16,122 $ — $ 16,122 $ — Obligations of states and political subdivisions 56,590 — 56,590 — Mortgage-backed securities - residential 63,408 — 63,408 — Mortgage-backed securities - commercial 1,415 — 1,415 — Collateralized mortgage obligations 5,766 — 5,766 — Pooled trust preferred security 727 — 727 — There were no 1 2 2019 2018 Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not Impaired Loans: may 3 Other Real Estate Owned: There were no June 30, 2018. June 30, 2019 Fair Value Measurements at June 30, 2019 Using Balance at June 30, 2019 Level 1 Level 2 Level 3 Impaired loans: Commercial Real Estate - Other $ 59 $ — $ — $ 59 Impaired loans, measured for impairment using the fair value of the collateral, had a recorded investment of $59, no June 30, 2019. $80 twelve June 30, 2019. no June 30, 2018 $17 twelve June 30, 2018. There was no June 30, 2019 2018. The following table presents quantitative information about Level 3 June 30, 2019: Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Impaired loans: Commercial Real Estate – Other $ 59 Settlement Agreement N/A 0.0 % 0.0 % 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: 201 9 201 8 Carrying Estimated Carrying Estimated Financial Assets: Level 1 inputs: Cash and cash equivalents $ 9,461 $ 9,461 $ 7,772 $ 7,772 Level 2 inputs: Certificates of deposits in other financial institutions 1,983 1,983 2,973 2,976 Loans held for sale 1,657 1,687 1,448 1,474 Accrued interest receivable 1,607 1,607 1,404 1,404 Level 3 inputs: Securities held-to-maturity 3,786 3,821 4,024 4,048 Loans, net 365,387 366,911 315,087 311,642 Financial Liabilities: Level 2 inputs: Demand and savings deposits 359,969 359,969 351,422 351,422 Time deposits 112,205 112,841 78,541 78,332 Short-term borrowings 3,686 3,686 13,367 13,367 Federal Home Loan Bank advances 22,700 22,596 11,756 11,146 Accrued interest payable 132 132 68 68 |
Note 15 - Parent Company Financ
Note 15 - Parent Company Financial Statements | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 1 5 —PARENT COMPANY FINANCIAL STATEMENTS The condensed financial information of Consumers Bancorp. Inc. (parent company only) follows: June 30, 9 June 30, 8 Condensed Balance Sheets Assets Cash $ 38 $ 46 Securities, available-for-sale 1,646 1,622 Other assets 75 73 Investment in subsidiary 49,545 42,089 Total assets $ 51,304 $ 43,830 Liabilities Other liabilities $ 138 $ 69 Shareholders’ equity 51,166 43,761 Total liabilities & shareholders’ equity $ 51,304 $ 43,830 Year Ended 9 Year Ended 8 Condensed Statements of Income and Comprehensive Income Cash dividends from Bank subsidiary $ 1,620 $ 1,400 Other income 40 39 Other expense 408 222 Income before income taxes and equity in undistributed net income of subsidiary 1,252 1,217 Income tax benefit (49 ) (52 ) Income before equity in undistributed net income of Bank subsidiary 1,301 1,269 Equity in undistributed net income of subsidiary 4,265 2,312 Net income $ 5,566 $ 3,581 Comprehensive income $ 8,767 $ 1,487 Condensed Statements of Cash Flows Year Ended 9 Year Ended 8 Cash flows from operating activities Net income $ 5,566 $ 3,581 Equity in undistributed net income of Bank subsidiary (4,265 ) (2,312 ) Securities amortization and accretion, net (10 ) (10 ) Change in other assets and liabilities 63 12 Net cash flows from operating activities 1,354 1,271 Cash flows from financing activities Dividend paid (1,421 ) (1,351 ) Issuance of treasury stock for stock awards 59 90 Net cash flows from financing activities (1,362 ) (1,261 ) Change in cash and cash equivalents (8 ) 10 ) Beginning cash and cash equivalents 46 36 Ending cash and cash equivalents $ 38 $ 46 |
Note 16 - Earnings Per Share
Note 16 - Earnings Per Share | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | OTE 1 6 –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 1,103 June 30, 2019. 1,828 June 30, 2018. For the year Ended June 30, 201 9 201 8 Basic: Net income available to common shareholders $ 5,566 $ 3,581 Weighted average common shares outstanding 2,731,247 2,726,926 Basic income per share $ 2.04 $ 1.31 Diluted: Net income available to common shareholders $ 5,566 $ 3,581 Weighted average common shares outstanding 2,731,247 2,726,926 Dilutive effect of restricted stock — — Total common shares and dilutive potential common shares 2,731,247 2,726,926 Dilutive income per share $ 2.04 $ 1.31 |
Note 17 - Accumulated Other Com
Note 17 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | N OTE 1 7 –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, 2019 June 30, 2018, Pretax Tax Effect After-tax Affected Line Item in Consolidated Statements of Income Balance as of June 30, 2017 $ 675 $ (230 ) $ 445 Unrealized holding loss on available-for-sale securities arising during the period (2,711 ) 638 (2,073 ) Amounts reclassified from accumulated other comprehensive income (33 ) 12 (21 ) (a)(b) Net current period other comprehensive loss (2,744 ) 650 (2,094 ) Reclassification of disproportional tax effect — 14 14 Balance as of June 30, 2018 $ (2,069 ) $ 434 $ (1,635 ) Unrealized holding gain on available-for-sale securities arising during the period 4,612 (968 ) 3,644 Amounts reclassified from accumulated other comprehensive income (561 ) 118 (443 ) (a)(b) Net current period other comprehensive income 4,051 (850 ) 3,201 Balance as of June 30, 2019 $ 1,982 $ (416 ) $ 1,566 (a) Securities gain, net (b) Income tax expense |
Note 18 - Revenue Recognition
Note 18 - Revenue Recognition | 12 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | N OTE 18 EVENUE RECOGNITION On July 1, 2018, 2014 09 606 606. not 606. 606, no Service charges on deposit accounts: Interchange income: The following table presents the Corporation's sources of noninterest income for the year ended June 30, 2019 2018. For the year Ended June 30, 2019 2018 Noninterest income In scope of Topic 606: Service charges on deposit accounts $ 1,264 $ 1,200 Debit card interchange income 1,454 1,333 Other income 260 188 Noninterest income (in scope of Topic 606) 2,978 $ 2,721 Noninterest income (out-of-scope of Topic 606) 1,290 670 Total noninterest income $ 4,268 $ 3,391 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation: |
Nature of Operations [Policy Text Block] | Nature of Operations: |
Segment Reporting, Policy [Policy Text Block] | Business Segment Information: one |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Flows: 90 Year Ended June 30, 201 9 201 8 Cash paid for interest $ 3,092 $ 1,643 Cash paid for Federal income taxes 820 730 Non-cash transactions: Transfer from loans to repossessed assets — — Transfer from loans held for sale to portfolio 75 253 Issuance of treasury stock for stock awards 59 90 Expired and forfeited dividend reinvestment plan shares associated with restricted stock awards that were retired to treasury stock — 4 |
Interest Bearing Deposits in Other Financial Institutions [Policy Text Block] | Interest–Bearing Deposits in Other Financial Institutions : one |
Certificate of Deposits in Financial Institutions [Policy Text Block] | Certificates of Deposit in Financial Institutions: |
Cash Reserves [Policy Text Block] | Cash Reserves: June 30, 2019 2018 $456 $329, |
Marketable Securities, Policy [Policy Text Block] | Securities: may 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 whether it is more likely than not not two 1 2 |
Federal Home Loan Bank FHLB Stock [Policy Text Block] | Federal Bank and Other Restricted Stocks: may |
Financing Receivable, Held-for-sale [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 90 no 120 All interest accrued but not six |
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: may 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 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 not 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 two three Commercial: may not may may may Commercial Real Estate: may 1 4 one four no 85% Consumer |
Financing Receivable, Held-for-investment, Foreclosed Asset [Policy Text Block] | Other Real Estate Owned: |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets: not |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment: three thirty-nine one |
Cash Surrender Value of Life Insurance [Policy Text Block] | Cash Surrender Value of Life Insurance: June 30, 2019, $19,806 $9,606. June 30, 2018, $19,776 $9,335. |
Long-term Assets [Policy Text Block] | Long- T erm Assets: may not |
Repurchase and Resale Agreements Policy [Policy Text Block] | Repurchase Agreements: not |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Retirement Plans: 401 |
Income Tax, Policy [Policy Text Block] | Income Taxes: not not 50% |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Common Share: |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation: |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income: |
Malpractice Loss Contingency, Policy [Policy Text Block] | Loss Contingencies: not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments: 14 |
Dividend Restrictions [Policy Text Block] | Dividend Restrictions: may |
Reclassification, Policy [Policy Text Block] | Reclassifications: June 30, 2018 June 30, 2019 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements Not June 2016, 2016 13, 326 326 2016 13 2016 13 December 15, 2019. December 15, 2018, July 2019, January 2023 thirty August, In February 2016, 2016 02, 842 December 15, 2018. not No. 2016 02 2016 02 July 1, 2019, $ 582 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Year Ended June 30, 201 9 201 8 Cash paid for interest $ 3,092 $ 1,643 Cash paid for Federal income taxes 820 730 Non-cash transactions: Transfer from loans to repossessed assets — — Transfer from loans held for sale to portfolio 75 253 Issuance of treasury stock for stock awards 59 90 Expired and forfeited dividend reinvestment plan shares associated with restricted stock awards that were retired to treasury stock — 4 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Available-for-sale Amortized Gross Gross Fair June 30, 201 9 Obligations of U.S. government-sponsored entities and agencies $ 19,227 $ 287 $ (1 ) $ 19,513 Obligations of state and political subdivisions 56,405 1,557 (33 ) 57,929 U.S. Government-sponsored mortgage-backed securities - residential 56,309 450 (448 ) 56,311 U.S. Government-sponsored collateralized mortgage obligations - residential 10,087 198 (28 ) 10,257 Total available-for-sale securities $ 142,028 $ 2,492 $ (510 ) $ 144,010 Held-to-maturity Amortized Gross Gross Losses Fair June 30, 201 9 Obligations of state and political subdivisions $ 3,786 $ 35 $ — $ 3,821 Total held-to-maturity securities $ 3,786 $ 35 $ — $ 3,821 Available-for-sale Amortized Gross Gross Fair June 30, 201 8 Obligations of U.S. government-sponsored entities and agencies $ 16,488 $ 6 $ (372 ) $ 16,122 Obligations of state and political subdivisions 56,964 339 (713 ) 56,590 U.S. Government-sponsored mortgage-backed securities - residential 65,062 6 (1,660 ) 63,408 U.S. Government-sponsored mortgage-backed securities - commercial 1,432 — (17 ) 1,415 U.S. Government-sponsored collateralized mortgage obligations - residential 5,973 9 (216 ) 5,766 Pooled trust preferred security 178 549 — 727 Total available-for-sale securities $ 146,097 $ 909 $ (2,978 ) $ 144,028 Held-to-maturity Amortized Gross Gross Losses Fair June 30, 201 8 Obligations of state and political subdivisions $ 4,024 $ 24 $ — $ 4,048 Total held-to-maturity securities $ 4,024 $ 24 $ — $ 4,048 |
Schedule of Realized Gain (Loss) [Table Text Block] | 201 9 201 8 Proceeds from sales $ 7,670 $ 2,644 Gross realized gains 606 40 Gross realized losses 45 7 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-sale Amortized Cost Fair Value Due in one year or less $ 9,473 $ 9,592 Due after one year through five years 15,700 15,969 Due after five years through ten years 21,774 22,179 Due after ten years 28,685 29,702 Total 75,632 77,442 U.S. Government-sponsored mortgage-backed and related securities 66,396 66,568 Total $ 142,028 $ 144,010 Held-to-maturity Amortized Cost Fair Value Due after five years through ten years $ 451 $ 471 Due after ten years 3,335 3,350 Total $ 3,786 $ 3,821 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or more Total Available-for-sale Fair Unrealized Fair Unrealized Fair Unrealized June 30, 201 9 Obligations of U.S. government-sponsored entities and agencies $ — $ — $ 998 $ (1 ) $ 998 $ (1 ) Obligations of states and political subdivisions — — 5,201 (33 ) 5,201 (33 ) Mortgage-backed securities - residential — — 36,362 (448 ) 36,362 (448 ) Collateralized mortgage obligations - residential — — 3,277 (28 ) 3,277 (28 ) Total temporarily impaired $ — $ — $ 45,838 $ (510 ) $ 45,838 $ (510 ) Less than 12 Months 12 Months or more Total Available-for-sale Fair Unrealized Fair Unrealized Fair Unrealized June 30, 201 8 Obligations of U.S. government-sponsored entities and agencies $ 12,400 $ (224 ) $ 2,747 $ (148 ) $ 15,147 $ (372 ) Obligations of states and political subdivisions 26,775 (369 ) 7,975 (344 ) 34,750 (713 ) Mortgage-backed securities - residential 31,038 (581 ) 29,716 (1,079 ) 60,754 (1,660 ) Mortgage-backed securities - commercial 1,415 (17 ) — — 1,415 (17 ) Collateralized mortgage obligations - residential — — 4,821 (216 ) 4,821 (216 ) Total temporarily impaired $ 71,628 $ (1,191 ) $ 45,259 $ (1,787 ) $ 116,887 $ (2,978 ) |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 201 9 201 8 Commercial $ 80,453 $ 60,995 Commercial real estate: Construction 16,120 5,394 Other 195,269 183,383 1 – 4 Family residential real estate: Owner occupied 55,941 47,433 Non-owner occupied 14,517 15,516 Construction 1,931 1,171 Consumer 5,150 4,873 Subtotal 369,381 318,765 Net deferred loan fees and costs (206 ) (256 ) Allowance for loan losses (3,788 ) (3,422 ) Net loans $ 365,387 $ 315,087 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 586 $ 2,277 $ 499 $ 60 $ 3,422 Provision for loan losses 74 (498 ) (28 ) 12 (440 ) Loans charged-off — (80 ) — (36 ) (116 ) Recoveries — 876 23 23 922 Total ending allowance balance $ 660 $ 2,575 $ 494 $ 59 $ 3,788 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 518 $ 2,038 $ 473 $ 57 $ 3,086 Provision for loan losses 51 202 45 12 310 Loans charged-off — (4 ) (33 ) (24 ) (61 ) Recoveries 17 41 14 15 87 Total ending allowance balance $ 586 $ 2,277 $ 499 $ 60 $ 3,422 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 $ 2 $ 7 $ — $ — $ 9 Collectively evaluated for impairment 658 2,568 494 59 3,779 Total ending allowance balance $ 660 $ 2,575 $ 494 $ 59 $ 3,788 Recorded investment in loans: Loans individually evaluated for impairment $ 174 $ 658 $ 357 $ — $ 1,189 Loans collectively evaluated for impairment 80,413 210,709 72,591 5,164 368,877 Total ending loans balance $ 80,587 $ 211,367 $ 72,948 $ 5,164 $ 370,066 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 $ — $ 29 $ — $ — $ 29 Collectively evaluated for impairment 586 2,248 499 60 3,393 Total ending allowance balance $ 586 $ 2,277 $ 499 $ 60 $ 3,422 Recorded investment in loans: Loans individually evaluated for impairment $ 100 $ 1,562 $ 398 $ — $ 2,060 Loans collectively evaluated for impairment 60,979 187,191 64,135 4,876 317,181 Total ending loans balance $ 61,079 $ 188,753 $ 64,533 $ 4,876 $ 319,241 |
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 $ — $ — $ — $ 86 $ 6 $ 6 Commercial real estate: Other 580 436 — 1,051 28 28 1-4 Family residential real estate: Owner occupied 124 93 — 97 — — Non-owner occupied 297 264 — 279 — — With an allowance recorded: Commercial real estate: Other 221 222 7 226 14 14 Commercial 173 174 2 44 2 2 Total $ 1,395 $ 1,189 $ 9 $ 1,783 $ 50 $ 50 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 $ 100 $ 100 $ — $ 111 $ 5 $ 5 Commercial real estate: Other 1,330 1,330 — 1,102 17 17 1-4 Family residential real estate: Owner occupied 101 101 — 71 — — Non-owner occupied 297 297 — 314 — — With an allowance recorded: Commercial real estate: Other 231 232 29 285 28 28 Total $ 2,059 $ 2,060 $ 29 $ 1,883 $ 50 $ 50 |
Financing Receivable, Past Due [Table Text Block] | June 30, 2019 June 30, 2018 Loans Past Due Loans Past Due Over 90 Days Over 90 Days Still Still Non-accrual Accruing Non-accrual Accruing Commercial real estate: Other $ 436 $ — $ 702 $ — 1 – 4 Family residential: Owner occupied 85 — 90 — Non-owner occupied 264 — 298 — Total $ 785 $ — $ 1,090 $ — Days Past Due 30 - 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ — $ — $ — $ 80,587 $ 80,587 Commercial real estate: Construction — — — — 16,075 16,075 Other 199 — — 199 195,093 195,292 1-4 Family residential: Owner occupied 40 — 80 120 56,347 56,467 Non-owner occupied — — — — 14,518 14,518 Construction — — — — 1,963 1,963 Consumer 1 — — 1 5,163 5,164 Total $ 240 $ — $ 80 $ 320 $ 369,746 $ 370,066 Days Past Due 30 - 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ — $ — $ — $ 61,079 $ 61,079 Commercial real estate: Construction — — — — 5,386 5,386 Other 238 — — 238 183,129 183,367 1-4 Family residential: Owner occupied 11 — 80 91 47,738 47,829 Non-owner occupied — — — — 15,514 15,514 Construction — — — — 1,190 1,190 Consumer 7 — — 7 4,869 4,876 Total $ 256 $ — $ 80 $ 336 $ 318,905 $ 319,241 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Loans Investment Investment Commercial 1 $ 38 $ 176 Commercial real estate: Other 1 161 59 Total 2 $ 199 $ 235 Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Loans Investment Investment Commercial 2 $ 518 $ 518 Commercial real estate: Other 1 512 512 Total 3 $ 1,030 $ 1,030 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special Not Pass Mention Substandard Doubtful Rated Commercial $ 74,393 $ 4,942 $ 1,012 $ — $ 240 Commercial real estate: Construction 16,075 — — — — Other 179,952 8,071 5,337 436 1,496 1-4 Family residential real estate: Owner occupied 2,245 — 24 5 54,193 Non-owner occupied 13,413 205 318 263 319 Construction — — — — 1,963 Consumer 32 — — — 5,132 Total $ 286,110 $ 13,218 $ 6,691 $ 704 $ 63,343 Special Not Pass Mention Substandard Doubtful Rated Commercial $ 59,214 $ 288 $ 1,162 $ — $ 415 Commercial real estate: Construction 5,386 — — — — Other 172,471 7,061 1,878 702 1,255 1-4 Family residential real estate: Owner occupied 2,577 — 27 11 45,214 Non-owner occupied 14,025 195 417 298 579 Construction 8 — — — 1,182 Consumer 93 — — — 4,783 Total $ 253,774 $ 7,544 $ 3,484 $ 1,011 $ 53,428 |
Note 5 - Premises and Equipme_2
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 201 9 201 8 Land $ 1,511 $ 1,469 Land improvements 344 344 Building and leasehold improvements 13,013 12,636 Furniture, fixture and equipment 5,872 5,164 Total premises and equipment 20,740 19,613 Accumulated depreciation and amortization (6,585 ) (6,298 ) Premises and equipment, net $ 14,155 $ 13,315 |
Lessee, Operating Lease, Disclosure [Table Text Block] | Twelve Months Ending June 30 2020 $ 109 2021 106 2022 96 2023 79 Thereafter 22 Total $ 412 |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Time Deposit Maturities [Table Text Block] | Twelve Months Ending June 30 2020 $ 69,401 2021 29,840 2022 7,396 2023 4,873 2024 515 Thereafter 180 $ 112,205 |
Note 7 - Short-term Borrowings
Note 7 - Short-term Borrowings (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | 201 9 201 8 Balance at June 30 $ 3,686 $ 13,367 Average balance during the year 3,521 24,422 Maximum month-end balance 3,975 28,621 Average interest rate during the year 1.45 % 0.98 % Weighted average rate, June 30 1.39 % 1.02 % |
Schedule of Repurchase Agreements [Table Text Block] | Overnight and Continuous 201 9 201 8 U.S. government-sponsored entities and agencies pledged $ 998 $ — Residential mortgage-backed securities pledged 3,938 5,294 Total pledged $ 4,936 $ 5,294 Repurchase agreements $ 3,686 $ 4,486 |
Note 8 - Federal Home Loan Ba_2
Note 8 - Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | June 30, 201 9 June 30, 201 8 Stated Interest Rate Range Weighted Average Weighted Average Advance Type From To Amount Rate Amount Rate Fixed rate, amortizing — % — % $ — — % $ 56 4.30 % Fixed rate 1.18 1.97 11,200 1.59 11,700 1.46 Variable rate 2.56 2.56 11,500 2.56 — — |
Schedule of Principal Payments [Table Text Block] | Twelve Months Ending June 30 Principal 2020 $ 13,000 2021 1,500 2022 1,700 2023 — Thereafter 6,500 Total $ 22,700 |
Note 9 - Employee Benefit Pla_2
Note 9 - Employee Benefit Plans (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Restricted Stock Awards Weighted-Average Grant Date Fair Value Per Share Outstanding at June 30, 2018 2,062 $ 21.00 Granted 4,201 23.40 Vested (2,614 ) 22.77 Non-vested at June 30, 2019 3,649 $ 22.49 |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 201 9 201 8 Current income taxes $ 840 $ 687 Deferred income tax expense 173 114 Change in corporate tax rate — 348 Total income tax expense $ 1,013 $ 1,149 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 201 9 201 8 Deferred tax assets: Allowance for loan losses $ 701 $ 632 Deferred compensation 616 514 Recognized loss on impairment of security — 164 Deferred income 55 68 Non-accrual loan interest income 50 42 Other 7 — Net unrealized securities loss — 435 Gross deferred tax asset 1,429 1,855 Deferred tax liabilities: Depreciation (645 ) (489 ) Loan fees (278 ) (238 ) FHLB stock dividends (102 ) (102 ) Prepaid expenses (42 ) (56 ) Net unrealized securities gain (416 ) — Gross deferred tax liabilities (1,483 ) (885 ) Net deferred asset (liability) $ (54 ) $ 970 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 201 9 201 8 Income taxes computed at the statutory rate on pretax income $ 1,382 $ 1,303 Tax exempt income (319 ) (408 ) Cash surrender value income (57 ) (75 ) Tax credit (28 ) (27 ) Change in corporate tax rate — 348 Other non-deductible expenses 35 8 Total income tax expense $ 1,013 $ 1,149 |
Note 11 - Related Party Trans_2
Note 11 - Related Party Transactions (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Principal balance, July 1 $ 11,138 New loans, net of refinancing 687 Repayments (1,195 ) Changes due to changes in related parties (68 ) Principal balance, June 30 $ 10,562 |
Note 12 - Regulatory Matters (T
Note 12 - Regulatory Matters (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Capital Required – Basel III (1) Minimum Required To Be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio June 30, 2019 Common equity Tier 1 to risk-weighted assets $ 48.0 11.68 % $ 18.5 4.50 % $ 26.7 6.50 % Tier 1 capital to risk weighted assets 48.0 11.68 24.6 6.00 32.9 8.00 Total capital to risk weighted assets 51.8 12.60 32.9 8.00 41.1 10.00 Tier 1 capital to average assets 48.0 8.88 21.6 4.00 27.0 5.00 Actual Minimum Capital Required - Basel III (1) Minimum Required To Be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio June 30, 201 8 Common equity Tier 1 to risk-weighted assets $ 43.7 12.20 % $ 16.1 4.50 % $ 23.3 6.50 % Tier 1 capital to risk weighted assets 43.7 12.20 21.5 6.00 28.7 8.00 Total capital to risk weighted assets 47.1 13.15 28.7 8.00 35.8 10.00 Tier 1 capital to average assets 43.7 8.74 20.0 4.00 25.0 5.00 |
Note 14 - Fair Value (Tables)
Note 14 - Fair Value (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2019 Using Balance at June 30, 2019 Level 1 Level 2 Level 3 Assets: Securities available-for-sale: Obligations of government-sponsored entities $ 19,513 $ — $ 19,513 $ — Obligations of states and political subdivisions 57,929 — 57,929 — Mortgage-backed securities - residential 56,311 — 56,311 — Collateralized mortgage obligations 10,257 — 10,257 — Fair Value Measurements at June 30, 2018 Using Balance at June 30, 2018 Level 1 Level 2 Level 3 Securities available-for-sale: Obligations of government-sponsored entities $ 16,122 $ — $ 16,122 $ — Obligations of states and political subdivisions 56,590 — 56,590 — Mortgage-backed securities - residential 63,408 — 63,408 — Mortgage-backed securities - commercial 1,415 — 1,415 — Collateralized mortgage obligations 5,766 — 5,766 — Pooled trust preferred security 727 — 727 — |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Fair Value Measurements at June 30, 2019 Using Balance at June 30, 2019 Level 1 Level 2 Level 3 Impaired loans: Commercial Real Estate - Other $ 59 $ — $ — $ 59 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Fair Value Valuation Technique Unobservable Inputs Range Weighted Average Impaired loans: Commercial Real Estate – Other $ 59 Settlement Agreement N/A 0.0 % 0.0 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 201 9 201 8 Carrying Estimated Carrying Estimated Financial Assets: Level 1 inputs: Cash and cash equivalents $ 9,461 $ 9,461 $ 7,772 $ 7,772 Level 2 inputs: Certificates of deposits in other financial institutions 1,983 1,983 2,973 2,976 Loans held for sale 1,657 1,687 1,448 1,474 Accrued interest receivable 1,607 1,607 1,404 1,404 Level 3 inputs: Securities held-to-maturity 3,786 3,821 4,024 4,048 Loans, net 365,387 366,911 315,087 311,642 Financial Liabilities: Level 2 inputs: Demand and savings deposits 359,969 359,969 351,422 351,422 Time deposits 112,205 112,841 78,541 78,332 Short-term borrowings 3,686 3,686 13,367 13,367 Federal Home Loan Bank advances 22,700 22,596 11,756 11,146 Accrued interest payable 132 132 68 68 |
Note 15 - Parent Company Fina_2
Note 15 - Parent Company Financial Statements (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | June 30, 9 June 30, 8 Condensed Balance Sheets Assets Cash $ 38 $ 46 Securities, available-for-sale 1,646 1,622 Other assets 75 73 Investment in subsidiary 49,545 42,089 Total assets $ 51,304 $ 43,830 Liabilities Other liabilities $ 138 $ 69 Shareholders’ equity 51,166 43,761 Total liabilities & shareholders’ equity $ 51,304 $ 43,830 |
Condensed Income Statement [Table Text Block] | Year Ended 9 Year Ended 8 Condensed Statements of Income and Comprehensive Income Cash dividends from Bank subsidiary $ 1,620 $ 1,400 Other income 40 39 Other expense 408 222 Income before income taxes and equity in undistributed net income of subsidiary 1,252 1,217 Income tax benefit (49 ) (52 ) Income before equity in undistributed net income of Bank subsidiary 1,301 1,269 Equity in undistributed net income of subsidiary 4,265 2,312 Net income $ 5,566 $ 3,581 Comprehensive income $ 8,767 $ 1,487 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows Year Ended 9 Year Ended 8 Cash flows from operating activities Net income $ 5,566 $ 3,581 Equity in undistributed net income of Bank subsidiary (4,265 ) (2,312 ) Securities amortization and accretion, net (10 ) (10 ) Change in other assets and liabilities 63 12 Net cash flows from operating activities 1,354 1,271 Cash flows from financing activities Dividend paid (1,421 ) (1,351 ) Issuance of treasury stock for stock awards 59 90 Net cash flows from financing activities (1,362 ) (1,261 ) Change in cash and cash equivalents (8 ) 10 ) Beginning cash and cash equivalents 46 36 Ending cash and cash equivalents $ 38 $ 46 |
Note 16 - Earnings Per Share (T
Note 16 - Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the year Ended June 30, 201 9 201 8 Basic: Net income available to common shareholders $ 5,566 $ 3,581 Weighted average common shares outstanding 2,731,247 2,726,926 Basic income per share $ 2.04 $ 1.31 Diluted: Net income available to common shareholders $ 5,566 $ 3,581 Weighted average common shares outstanding 2,731,247 2,726,926 Dilutive effect of restricted stock — — Total common shares and dilutive potential common shares 2,731,247 2,726,926 Dilutive income per share $ 2.04 $ 1.31 |
Note 17 - Accumulated Other C_2
Note 17 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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, 2017 $ 675 $ (230 ) $ 445 Unrealized holding loss on available-for-sale securities arising during the period (2,711 ) 638 (2,073 ) Amounts reclassified from accumulated other comprehensive income (33 ) 12 (21 ) (a)(b) Net current period other comprehensive loss (2,744 ) 650 (2,094 ) Reclassification of disproportional tax effect — 14 14 Balance as of June 30, 2018 $ (2,069 ) $ 434 $ (1,635 ) Unrealized holding gain on available-for-sale securities arising during the period 4,612 (968 ) 3,644 Amounts reclassified from accumulated other comprehensive income (561 ) 118 (443 ) (a)(b) Net current period other comprehensive income 4,051 (850 ) 3,201 Balance as of June 30, 2019 $ 1,982 $ (416 ) $ 1,566 |
Note 18 - Revenue Recognition (
Note 18 - Revenue Recognition (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the year Ended June 30, 2019 2018 Noninterest income In scope of Topic 606: Service charges on deposit accounts $ 1,264 $ 1,200 Debit card interchange income 1,454 1,333 Other income 260 188 Noninterest income (in scope of Topic 606) 2,978 $ 2,721 Noninterest income (out-of-scope of Topic 606) 1,290 670 Total noninterest income $ 4,268 $ 3,391 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019USD ($) | Jul. 01, 2019USD ($) | Jun. 30, 2018USD ($) | |
Number of Reportable Segments | 1 | ||
Cash Reserve Deposit Required and Made Federal Reserve Banks | $ 456 | $ 329 | |
Bank Owned Life Insurance | 19,806 | 19,776 | |
Cash Surrender Value of Life Insurance | $ 9,606 | $ 9,335 | |
Accounting Standards Update 2016-02 [Member] | Subsequent Event [Member] | |||
Operating Lease, Right-of-Use Asset | $ 582 | ||
Operating Lease, Liability, Total | $ 582 | ||
Software and Software Development Costs [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Building [Member] | |||
Property, Plant and Equipment, Useful Life | 39 years 182 days |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Additional Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash paid for interest | $ 3,092 | $ 1,643 |
Cash paid for Federal income taxes | 820 | 730 |
Transfer from loans to repossessed assets | ||
Transfer from loans held for sale to portfolio | 75 | 253 |
Issuance of treasury stock for stock awards | 59 | 90 |
Expired and forfeited dividend reinvestment plan shares associated with restricted stock awards that were retired to treasury stock | $ 4 |
Note 2 - Acquisition (Details T
Note 2 - Acquisition (Details Textual) - Peoples Bancorp of Mt. Pleasant, Inc. [Member] - USD ($) | 7 Months Ended | |
Dec. 31, 2019 | Jun. 13, 2019 | |
Business Acquisition, Average Closing Share Price | $ 19.07 | |
Business Acquisition, Aggregate Implied Transaction Value | $ 10,300,000 | |
Forecast [Member] | ||
Business Acquisition, Equity Interest Issued or Issuable to Each Shareholder, Number of Shares | 63.16 | |
Payments to Each Shareholder to Acquire Businesses, Gross | $ 1,200 | |
Business Acquisition, Percentage of Total Consideration Transferred to be Paid in Common Shares | 50.00% | |
Business Acquisition, Percentage of Total Consideration Transferred to be Paid in Cash | 50.00% | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | $ 75,000,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 53,100,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | $ 65,700,000 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | |
Available-for-sale Securities Income Tax Provision on Gross Realized Gains | $ 118 | $ 12 |
Debt Securities, Available-for-sale, Restricted | $ 72,600 | 71,673 |
Available-for-sale, Qualitative Disclosure, Number of Positions | 251 | |
Held-to-maturity, Qualitative Disclosure, Number of Positions | 3 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 71 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 71 | |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Number of Positions | 0 | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | $ 0 | $ 0 |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost and Fair Value of Securities Available-for-sale and Securities Held-to-maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Available-for-sale securities, amortized cost | $ 142,028 | $ 146,097 |
Available-for-sale securities, gross unrealized gains | 2,492 | 909 |
Available-for-sale securities, gross unrealized losses | (510) | (2,978) |
Available-for-sale securities, fair value | 144,010 | 144,028 |
Held-to-maturity, amortized cost | 3,786 | 4,024 |
Held-to-maturity, gross unrecognized gains | 35 | 24 |
Held-to-maturity, gross unrecognized losses | ||
Held-to-maturity, fair value | 3,821 | 4,048 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 19,227 | 16,488 |
Available-for-sale securities, gross unrealized gains | 287 | 6 |
Available-for-sale securities, gross unrealized losses | (1) | (372) |
Available-for-sale securities, fair value | 19,513 | 16,122 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 56,405 | 56,964 |
Available-for-sale securities, gross unrealized gains | 1,557 | 339 |
Available-for-sale securities, gross unrealized losses | (33) | (713) |
Available-for-sale securities, fair value | 57,929 | 56,590 |
Held-to-maturity, amortized cost | 3,786 | 4,024 |
Held-to-maturity, gross unrecognized gains | 35 | 24 |
Held-to-maturity, gross unrecognized losses | ||
Held-to-maturity, fair value | 3,821 | 4,048 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale securities, amortized cost | 56,309 | 65,062 |
Available-for-sale securities, gross unrealized gains | 450 | 6 |
Available-for-sale securities, gross unrealized losses | (448) | (1,660) |
Available-for-sale securities, fair value | 56,311 | 63,408 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, amortized cost | 10,087 | 5,973 |
Available-for-sale securities, gross unrealized gains | 198 | 9 |
Available-for-sale securities, gross unrealized losses | (28) | (216) |
Available-for-sale securities, fair value | $ 10,257 | 5,766 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, amortized cost | 1,432 | |
Available-for-sale securities, gross unrealized gains | ||
Available-for-sale securities, gross unrealized losses | (17) | |
Available-for-sale securities, fair value | 1,415 | |
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Available-for-sale securities, amortized cost | 178 | |
Available-for-sale securities, gross unrealized gains | 549 | |
Available-for-sale securities, gross unrealized losses | ||
Available-for-sale securities, fair value | $ 727 |
Note 3 - Securities - Proceeds
Note 3 - Securities - Proceeds From Sales and Calls of Available-for-sale Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Proceeds from sales | $ 7,670 | $ 2,644 |
Gross realized gains | 606 | 40 |
Gross realized losses | $ 45 | $ 7 |
Note 3 - Securities - Amortiz_2
Note 3 - Securities - Amortized Cost and Fair Values of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $ 9,473 | |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 9,592 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 15,700 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 15,969 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 21,774 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 22,179 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 28,685 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 29,702 | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis | 75,632 | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date | 77,442 | |
Available-for-sale Debt Securities, Amortized Cost Basis | 142,028 | $ 146,097 |
Securities, available-for-sale | 144,010 | 144,028 |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 451 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 471 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 3,335 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 3,350 | |
Held-to-maturity Securities | 3,786 | 4,024 |
Held-to-maturity Securities, Fair Value | 3,821 | $ 4,048 |
U.S. Government-sponsored Mortgage-backed and Related Securities [Member] | ||
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | 66,396 | |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | $ 66,568 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities With Unrealized and Unrecognized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 71,628 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (1,191) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 45,838 | 45,259 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (510) | (1,787) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 45,838 | 116,887 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (510) | (2,978) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 12,400 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (224) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 998 | 2,747 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (1) | (148) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 998 | 15,147 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (1) | (372) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 26,775 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (369) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 5,201 | 7,975 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (33) | (344) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 5,201 | 34,750 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (33) | (713) |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 31,038 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (581) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 36,362 | 29,716 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (448) | (1,079) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 36,362 | 60,754 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (448) | (1,660) |
Collateralized Debt Obligations [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,277 | 4,821 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (28) | (216) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 3,277 | 4,821 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ (28) | (216) |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,415 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (17) | |
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 | 1,415 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ (17) |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) xbrli-pure in Thousands, $ in Thousands | 12 Months Ended | |
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | |
Interest Receivable | $ 891 | $ 732 |
Financing Receivable, Nonaccrual | 785 | 1,090 |
Financing Receivable, Troubled Debt Restructuring | 725 | 1,269 |
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount, Total | 9 | 29 |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 0 | 175 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 80 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | |
Threshold Amount of Loans Outstanding to Perform Credit Analysis | $ 100 | |
Non-accrual Loans [Member] | ||
Financing Receivable, Nonaccrual | 507 | 761 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Nonaccrual | 198 | 249 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Nonaccrual | $ 80 | $ 80 |
Note 4 - Loans - Major Classifi
Note 4 - Loans - Major Classifications (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 |
Loans Receivable, Gross | $ 369,381 | $ 318,765 | |
Net deferred loan fees and costs | (206) | (256) | |
Allowance for loan losses | (3,788) | (3,422) | $ (3,086) |
Net loans | 365,387 | 315,087 | |
Commercial Portfolio Segment [Member] | |||
Loans Receivable, Gross | 80,453 | 60,995 | |
Allowance for loan losses | (660) | (586) | (518) |
Commercial Real Estate Portfolio Segment [Member] | |||
Allowance for loan losses | (2,575) | (2,277) | (2,038) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans Receivable, Gross | 16,120 | 5,394 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | |||
Loans Receivable, Gross | 195,269 | 183,383 | |
Residential Portfolio Segment [Member] | |||
Allowance for loan losses | (494) | (499) | (473) |
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans Receivable, Gross | 1,931 | 1,171 | |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | |||
Loans Receivable, Gross | 55,941 | 47,433 | |
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | |||
Loans Receivable, Gross | 14,517 | 15,516 | |
Consumer Portfolio Segment [Member] | |||
Loans Receivable, Gross | 5,150 | 4,873 | |
Allowance for loan losses | $ (59) | $ (60) | $ (57) |
Note 4 - Loans - Allowance for
Note 4 - Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Beginning balance | $ 3,422 | $ 3,086 | ||
Provision for loan losses | (440) | 310 | ||
Loans charged-off | (116) | (61) | ||
Recoveries | 922 | 87 | ||
Total ending allowance balance | 3,788 | 3,422 | ||
Individually evaluated for impairment | $ 9 | $ 29 | ||
Collectively evaluated for impairment | 3,779 | 3,393 | ||
Total ending allowance balance | 3,788 | 3,422 | 3,788 | 3,422 |
Loans individually evaluated for impairment | 1,189 | 2,060 | ||
Loans collectively evaluated for impairment | 368,877 | 317,181 | ||
Total ending loans balance | 370,066 | 319,241 | ||
Commercial Portfolio Segment [Member] | ||||
Beginning balance | 586 | 518 | ||
Provision for loan losses | 74 | 51 | ||
Loans charged-off | ||||
Recoveries | 17 | |||
Total ending allowance balance | 660 | 586 | ||
Individually evaluated for impairment | 2 | |||
Collectively evaluated for impairment | 658 | 586 | ||
Total ending allowance balance | 586 | 586 | 660 | 586 |
Loans individually evaluated for impairment | 174 | 100 | ||
Loans collectively evaluated for impairment | 80,413 | 60,979 | ||
Total ending loans balance | 80,587 | 61,079 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning balance | 2,277 | 2,038 | ||
Provision for loan losses | (498) | 202 | ||
Loans charged-off | (80) | (4) | ||
Recoveries | 876 | 41 | ||
Total ending allowance balance | 2,575 | 2,277 | ||
Individually evaluated for impairment | 7 | 29 | ||
Collectively evaluated for impairment | 2,568 | 2,248 | ||
Total ending allowance balance | 2,277 | 2,277 | 2,575 | 2,277 |
Loans individually evaluated for impairment | 658 | 1,562 | ||
Loans collectively evaluated for impairment | 210,709 | 187,191 | ||
Total ending loans balance | 211,367 | 188,753 | ||
Residential Portfolio Segment [Member] | ||||
Beginning balance | 499 | 473 | ||
Provision for loan losses | (28) | 45 | ||
Loans charged-off | (33) | |||
Recoveries | 23 | 14 | ||
Total ending allowance balance | 494 | 499 | ||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 494 | 499 | ||
Total ending allowance balance | 499 | 499 | 494 | 499 |
Loans individually evaluated for impairment | 357 | 398 | ||
Loans collectively evaluated for impairment | 72,591 | 64,135 | ||
Total ending loans balance | 72,948 | 64,533 | ||
Consumer Portfolio Segment [Member] | ||||
Beginning balance | 60 | 57 | ||
Provision for loan losses | 12 | 12 | ||
Loans charged-off | (36) | (24) | ||
Recoveries | 23 | 15 | ||
Total ending allowance balance | 59 | 60 | ||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 59 | 60 | ||
Total ending allowance balance | $ 60 | $ 60 | 59 | 60 |
Loans individually evaluated for impairment | ||||
Loans collectively evaluated for impairment | 5,164 | 4,876 | ||
Total ending loans balance | $ 5,164 | $ 4,876 |
Note 4 - Loans - Impaired Loans
Note 4 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Impaired Financing Receivable, Related Allowance | $ 9 | $ 29 |
Impaired Financing Receivable, Unpaid Principal Balance | 1,395 | 2,059 |
Impaired Financing Receivable, Recorded Investment, Total | 1,189 | 2,060 |
Impaired Financing Receivable, Average Recorded Investment | 1,783 | 1,883 |
Impaired Financing Receivable, Interest Income, Accrual Method | 50 | 50 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 50 | 50 |
Commercial Portfolio Segment [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 100 | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 100 | |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 86 | 111 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 6 | 5 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 6 | 5 |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 173 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 174 | |
Impaired Financing Receivable, Related Allowance | 2 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 44 | |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 2 | |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 2 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 580 | 1,330 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 436 | 1,330 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,051 | 1,102 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 28 | 17 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 28 | 17 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 221 | 231 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 222 | 232 |
Impaired Financing Receivable, Related Allowance | 7 | 29 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 226 | 285 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 14 | 28 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 14 | 28 |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 124 | 101 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 93 | 101 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 97 | 71 |
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 Non-owner Occupied Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 297 | 297 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 264 | 297 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 279 | 314 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method |
Note 4 - Loans - Loans Past Due
Note 4 - Loans - Loans Past Due (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 785 | $ 1,090 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 320 | 336 |
Financing Receivable, Recorded Investment, Not Past Due | 369,746 | 318,905 |
Financing Receivable, Recorded Investment, Total | 370,066 | 319,241 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 198 | 249 |
Financing Receivable, Recorded Investment, Past Due | 240 | 256 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 80 | 80 |
Financing Receivable, Recorded Investment, Past Due | 80 | 80 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Total | 211,367 | 188,753 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 436 | 702 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 199 | 238 |
Financing Receivable, Recorded Investment, Not Past Due | 195,093 | 183,129 |
Financing Receivable, Recorded Investment, Total | 195,292 | 183,367 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 199 | 238 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Financing Receivable, Recorded Investment, Not Past Due | 16,075 | 5,386 |
Financing Receivable, Recorded Investment, Total | 16,075 | 5,386 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Financing Receivable, Recorded Investment, Not Past Due | 80,587 | 61,079 |
Financing Receivable, Recorded Investment, Total | 80,587 | 61,079 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Total | 72,948 | 64,533 |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 85 | 90 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | 120 | 91 |
Financing Receivable, Recorded Investment, Not Past Due | 56,347 | 47,738 |
Financing Receivable, Recorded Investment, Total | 56,467 | 47,829 |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 40 | 11 |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 80 | 80 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Financing Receivable, Recorded Investment, Not Past Due | 1,963 | 1,190 |
Financing Receivable, Recorded Investment, Total | 1,963 | 1,190 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 264 | 298 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ||
Financing Receivable, Recorded Investment, Past Due | ||
Financing Receivable, Recorded Investment, Not Past Due | 14,518 | 15,514 |
Financing Receivable, Recorded Investment, Total | 14,518 | 15,514 |
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 1 | 7 |
Financing Receivable, Recorded Investment, Not Past Due | 5,163 | 4,869 |
Financing Receivable, Recorded Investment, Total | 5,164 | 4,876 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | 1 | 7 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due | ||
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due |
Note 4 - Loans - Loans by Class
Note 4 - Loans - Loans by Class Modified as Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | |
Number of Contracts | 2 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 199 | $ 1,030 |
Post-Modification Outstanding Recorded Investment | $ 235 | $ 1,030 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 38 | $ 518 |
Post-Modification Outstanding Recorded Investment | $ 176 | $ 518 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | ||
Number of Contracts | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 161 | $ 512 |
Post-Modification Outstanding Recorded Investment | $ 59 | $ 512 |
Note 4 - Loans - Recorded Inves
Note 4 - Loans - Recorded Investment by Risk Category (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Pass [Member] | ||
Financing Receivable, Net | $ 286,110 | $ 253,774 |
Special Mention [Member] | ||
Financing Receivable, Net | 13,218 | 7,544 |
Substandard [Member] | ||
Financing Receivable, Net | 6,691 | 3,484 |
Doubtful [Member] | ||
Financing Receivable, Net | 704 | 1,011 |
Not Rated [Member] | ||
Financing Receivable, Net | 63,343 | 53,428 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Net | 74,393 | 59,214 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Net | 4,942 | 288 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Net | 1,012 | 1,162 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Net | ||
Commercial Portfolio Segment [Member] | Not Rated [Member] | ||
Financing Receivable, Net | 240 | 415 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 16,075 | 5,386 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 179,952 | 172,471 |
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 | 8,071 | 7,061 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | ||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 5,337 | 1,878 |
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 | 436 | 702 |
Commercial Real Estate Portfolio Segment [Member] | Not Rated [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | ||
Commercial Real Estate Portfolio Segment [Member] | Not Rated [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 1,496 | 1,255 |
Residential Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 8 | |
Residential Portfolio Segment [Member] | Pass [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 2,245 | 2,577 |
Residential Portfolio Segment [Member] | Pass [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 13,413 | 14,025 |
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 | ||
Residential Portfolio Segment [Member] | Special Mention [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 205 | 195 |
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 | 24 | 27 |
Residential Portfolio Segment [Member] | Substandard [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 318 | 417 |
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 | 5 | 11 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 263 | 298 |
Residential Portfolio Segment [Member] | Not Rated [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 1,963 | 1,182 |
Residential Portfolio Segment [Member] | Not Rated [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 54,193 | 45,214 |
Residential Portfolio Segment [Member] | Not Rated [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 319 | 579 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Net | 32 | 93 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Net | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Net | ||
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Net | ||
Consumer Portfolio Segment [Member] | Not Rated [Member] | ||
Financing Receivable, Net | $ 5,132 | $ 4,783 |
Note 5 - Premises and Equipme_3
Note 5 - Premises and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Depreciation, Total | $ 797 | $ 771 |
Operating Leases, Rent Expense, Total | $ 159 | $ 159 |
Note 5 - Premises and Equipme_4
Note 5 - Premises and Equipment - Major Classifications of Premises and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Premises and equipment, gross | $ 20,740 | $ 19,613 |
Accumulated depreciation and amortization | (6,585) | (6,298) |
Premises and equipment, net | 14,155 | 13,315 |
Land [Member] | ||
Premises and equipment, gross | 1,511 | 1,469 |
Land Improvements [Member] | ||
Premises and equipment, gross | 344 | 344 |
Building And Leasehold Improvements [Member] | ||
Premises and equipment, gross | 13,013 | 12,636 |
Furniture and Fixtures [Member] | ||
Premises and equipment, gross | $ 5,872 | $ 5,164 |
Note 5 - Premises and Equipme_5
Note 5 - Premises and Equipment - Minimum Annual Rentals and Commitments (Details) $ in Thousands | Jun. 30, 2019USD ($) |
2020 | $ 109 |
2021 | 106 |
2022 | 96 |
2023 | 79 |
Thereafter | 22 |
Total | $ 412 |
Note 6 - Deposits (Details Text
Note 6 - Deposits (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Time Deposits Minimum Denomination | $ 250 | |
Time Deposits, at or Above FDIC Insurance Limit | $ 39,034 | $ 23,018 |
Note 6 - Deposits - Maturities
Note 6 - Deposits - Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
2020 | $ 69,401 | |
2021 | 29,840 | |
2022 | 7,396 | |
2023 | 4,873 | |
2024 | 515 | |
Thereafter | 180 | |
Total | $ 112,205 | $ 78,541 |
Note 7 - Short-term Borrowing_2
Note 7 - Short-term Borrowings (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Interest Expense, Short-term Borrowings, Total | $ 51 | $ 240 |
Note 7 - Short-term Borrowing_3
Note 7 - Short-term Borrowings - Summary of Short-term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Short-term borrowings | $ 3,686 | $ 13,367 |
Average balance during the year | 3,521 | 24,422 |
Maximum month-end balance | $ 3,975 | $ 28,621 |
Average interest rate during the year | 1.45% | 0.98% |
Weighted average rate, June 30 | 1.39% | 1.02% |
Note 7 - Short-term Borrowing_4
Note 7 - Short-term Borrowings - Schedule of Repurchase Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Pledged Financial Instruments, Securities for Repurchase Agreements | $ 4,936 | $ 5,294 |
Repurchase Agreements | 3,686 | 4,486 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Pledged Financial Instruments, Securities for Repurchase Agreements | 998 | |
Residential Mortgage Backed Securities [Member] | ||
Pledged Financial Instruments, Securities for Repurchase Agreements | $ 3,938 | $ 5,294 |
Note 8 - Federal Home Loan Ba_3
Note 8 - Federal Home Loan Bank Advances (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Prepayment Penalty for Advances Received, Percentage of Lost Cash Flow | 100.00% | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 23,283 | |
First Mortgage Loans [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 61,812 | $ 53,572 |
Note 8 - Federal Home Loan Ba_4
Note 8 - Federal Home Loan Bank Advances - Summary of Federal Home Loan Bank (FHLB) Advances (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
FHLB advance amount | $ 22,700 | |
Fixed Rate Amortizing FHLB Advances [Member] | ||
FHLB advance amount | $ 56 | |
Weighted average rate | 4.30% | |
Fixed Rate Amortizing FHLB Advances [Member] | Minimum [Member] | ||
Stated Interest rate range | ||
Fixed Rate Amortizing FHLB Advances [Member] | Maximum [Member] | ||
Stated Interest rate range | ||
Fixed Rate FHLB Advances [Member] | ||
FHLB advance amount | $ 11,200 | $ 11,700 |
Weighted average rate | 1.59% | 1.46% |
Fixed Rate FHLB Advances [Member] | Minimum [Member] | ||
Stated Interest rate range | 1.18% | |
Fixed Rate FHLB Advances [Member] | Maximum [Member] | ||
Stated Interest rate range | 1.97% | |
Variable Rate FHLB Advances [Member] | ||
Stated Interest rate range | 2.56% | |
FHLB advance amount | $ 11,500 | |
Weighted average rate | 2.56% |
Note 8 - Federal Home Loan Ba_5
Note 8 - Federal Home Loan Bank Advances - Summary of the Scheduled Principal Payments (Details) $ in Millions | Jun. 30, 2019USD ($) |
2020 | $ 13 |
2021 | 1.5 |
2022 | 1.7 |
2023 | |
Thereafter | 6.5 |
Total | $ 22.7 |
Note 9 - Employee Benefit Pla_3
Note 9 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
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 | $ 236 | $ 206 |
Defined Benefit Plan, Accumulated Benefit Obligation | $ 2,475 | $ 2,321 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.50% | 4.50% |
Defined Benefit Plan, Other Cost (Credit) | $ 230 | $ 225 |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 76 | 56 |
Restricted Stock [Member] | ||
Share-based Payment Arrangement, Expense | 74 | $ 101 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 57 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years | |
Share-based Payment Arrangement, Tranche One [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |
Share-based Payment Arrangement, Tranche Three [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |
Share-based Payment Arrangement, Tranche Two [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |
Share-based Payment Arrangement, Tranche Four[Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |
Share-based Payment Arrangement, Tranche Two, Three and Tour[Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years |
Note 9 - Employee Benefit Pla_4
Note 9 - Employee Benefit Plans - Summary of the Restricted Stock Awards (Details) - Restricted Stock [Member] | 12 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Restricted Stock Awards, Outstanding, Beginning Balance (in shares) | shares | 2,062 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Beginning Period (in dollars per share) | $ / shares | $ 21 |
Restricted Stock Awards, Granted (in shares) | shares | 4,201 |
Weighted-Average Grant Date Fair Value Per Share, Granted (in dollars per share) | $ / shares | $ 23.40 |
Restricted Stock Awards, Vested (in shares) | shares | (2,614) |
Weighted-Average Grant Date Fair Value Per Share, Vested (in dollars per share) | $ / shares | $ 22.77 |
Restricted Stock Awards, Outstanding, Ending Balance (in shares) | shares | 3,649 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Ending Period (in dollars per share) | $ / shares | $ 22.49 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 27.55% |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 348 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 15.40% | 24.30% |
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 |
Note 10 - Income Taxes - Provis
Note 10 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Current income taxes | $ 840 | $ 687 |
Deferred income tax expense | 173 | 114 |
Change in corporate tax rate | 348 | |
Total income tax expense | $ 1,013 | $ 1,149 |
Note 10 - Income Taxes - Net De
Note 10 - Income Taxes - Net Deferred Income Tax Asset (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Allowance for loan losses | $ 701 | $ 632 |
Deferred compensation | 616 | 514 |
Recognized loss on impairment of security | 164 | |
Deferred income | 55 | 68 |
Non-accrual loan interest income | 50 | 42 |
Other | 7 | |
Net unrealized securities loss | 435 | |
Gross deferred tax asset | 1,429 | 1,855 |
Depreciation | (645) | (489) |
Loan fees | (278) | (238) |
FHLB stock dividends | (102) | (102) |
Prepaid expenses | (42) | (56) |
Net unrealized securities gain | (416) | |
Gross deferred tax liabilities | (1,483) | (885) |
Net deferred liability | $ (54) | |
Net deferred asset | $ 970 |
Note 10 - Income Taxes - Schedu
Note 10 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Income taxes computed at the statutory rate on pretax income | $ 1,382 | $ 1,303 |
Tax exempt income | (319) | (408) |
Cash surrender value income | (57) | (75) |
Tax credit | (28) | (27) |
Change in corporate tax rate | 348 | |
Other non-deductible expenses | 35 | 8 |
Total income tax expense | $ 1,013 | $ 1,149 |
Note 11 - Related Party Trans_3
Note 11 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Executive Officers, Directors and Their Affiliates [Member] | ||
Related Party Deposit Liabilities | $ 3,800 | $ 5,897 |
Note 11 - Related Party Trans_4
Note 11 - Related Party Transactions - Loans to Related Parties (Details) - Executive Officers, Directors and Their Affiliates [Member] $ in Thousands | 12 Months Ended |
Jun. 30, 2019USD ($) | |
Principal balance | $ 11,138 |
New loans, net of refinancing | 687 |
Repayments | (1,195) |
Changes due to changes in related parties | (68) |
Principal balance | $ 10,562 |
Note 12 - Regulatory Matters (D
Note 12 - Regulatory Matters (Details Textual) - USD ($) | Jan. 01, 2019 | Jan. 01, 2016 | Jun. 30, 2019 | Jun. 30, 2018 |
Percentage of Capital Implementation | 2.50% | 0.625% | ||
Capital Conservation Buffer | 2.50% | 1.875% | ||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 7,286 |
Note 12 - Regulatory Matters -
Note 12 - Regulatory Matters - Schedule of Compliance With Regulatory Capital Requirements Under Banking Regulations (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 | ||
Common Equity Tier One Risk Based Capital | $ 48,000 | $ 43,700 | ||
Common Equity Tier One Risk Based Capital to Risk Weighted Assets | 11.68% | 12.20% | ||
Common Equity Tier One Risk Based Capital Required for Capital Adequacy | $ 18,500 | [1] | $ 16,100 | |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | [1] | 4.50% | |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized | $ 26,700 | $ 23,300 | ||
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 | $ 48,000 | $ 43,700 | ||
Tier 1 capital to risk weighted assets Bank | 11.68% | 12.20% | ||
Tier One Risk Based Capital Required for Capital Adequacy | [1] | $ 24,600 | $ 21,500 | |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 6.00% | 6.00% | |
Tier One Risk Based Capital Required to be Well Capitalized | $ 32,900 | $ 28,700 | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% | ||
Capital | $ 51,800 | $ 47,100 | ||
Capital to Risk Weighted Assets | 12.60% | 13.15% | ||
Capital Required for Capital Adequacy | [1] | $ 32,900 | $ 28,700 | |
Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 8.00% | 8.00% | |
Capital Required to be Well Capitalized | $ 41,100 | $ 35,800 | ||
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% | ||
Tier One Leverage Capital | $ 48,000 | $ 43,700 | ||
Tier One Leverage Capital to Average Assets | 8.88% | 8.74% | ||
Tier One Leverage Capital Required for Capital Adequacy | [1] | $ 21,600 | $ 20,000 | |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | [1] | 4.00% | 4.00% | |
Tier One Leverage Capital Required to be Well Capitalized | $ 27,000 | $ 25,000 | ||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% | ||
[1] | These amounts exclude the capital conservation buffer. |
Note 13 - Commitments With Of_2
Note 13 - Commitments With Off-balance Sheet Risk (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | $ 83,702 | $ 62,764 |
Loans and Leases Receivable, Commitments, Variable Rates | 67,722 | 53,082 |
Loans and Leases Receivable, Commitments, Fixed Rates | 15,980 | 9,682 |
Commitments to Extend Credit [Member] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 8,840 | 8,493 |
Financial Standby Letter of Credit [Member] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 2,563 | $ 1,090 |
Minimum [Member] | ||
Loans and Leases Receivable Commitments Fixed Rates Percentage | 3.50% | 3.375% |
Maximum [Member] | ||
Loans and Leases Receivable Commitments Fixed Rates Percentage | 6.75% | 6.50% |
Note 14 - Fair Value (Details T
Note 14 - Fair Value (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Impaired Financing Receivable, Related Allowance | $ 9 | $ 29 |
Impaired Financing Receivable, Recorded Investment, Total | 1,189 | 2,060 |
Other Real Estate Owned, Fair Value Disclosure | 0 | 0 |
Collateral Dependent Loans [Member] | ||
Impaired Financing Receivable, Related Allowance | 0 | |
Fair Value, Nonrecurring [Member] | ||
Assets, Fair Value Disclosure | 0 | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 59 | |
Impaired Financing Receivable, Recorded Investment, Total | 0 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | $ 80 | $ (17) |
Note 14 - Fair Value - Assets a
Note 14 - Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Securities, available-for-sale | $ 144,010 | $ 144,028 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities, available-for-sale | 19,513 | 16,122 |
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 | 19,513 | 16,122 |
US Government-sponsored Enterprises 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 | 57,929 | 56,590 |
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 | 57,929 | 56,590 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
Residential Mortgage Backed Securities [Member] | ||
Securities, available-for-sale | 56,311 | 63,408 |
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 | 56,311 | 63,408 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
Commercial Mortgage Backed Securities [Member] | ||
Securities, available-for-sale | 1,415 | |
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 | 1,415 | |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
Collateralized Debt Obligations [Member] | ||
Securities, available-for-sale | 10,257 | 5,766 |
Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | ||
Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 10,257 | 5,766 |
Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | ||
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Securities, available-for-sale | 727 | |
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 | 727 | |
Pooled Trust Preferred Securities Subject to Mandatory Redemption [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale |
Note 14 - Fair Value - Financia
Note 14 - Fair Value - Financial Assets and Liabilities Measured at Fair Value on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Assets, Fair Value Disclosure | $ 0 | |
Commercial Real Estate - Other [Member] | ||
Assets, Fair Value Disclosure | $ 59 | |
Commercial Real Estate - Other [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure | ||
Commercial Real Estate - Other [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure | ||
Commercial Real Estate - Other [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure | $ 59 |
Note 14 - Fair Value - Quantita
Note 14 - Fair Value - Quantitative Information About Level 3 Fair Value Measurements (Details) - Commercial Real Estate - Other [Member] - Bid Indications [Member] $ in Thousands | Jun. 30, 2019USD ($) |
Assets, Fair Value Disclosure | $ 59 |
Measurement Input, Discount Rate [Member] | |
Discount Rate | 0 |
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | |
Discount Rate | 0 |
Note 14 - Fair Value - Estimate
Note 14 - Fair Value - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Held-to-maturity, fair value | $ 3,821 | $ 4,048 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and cash equivalents | 9,461 | 7,772 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 9,461 | 7,772 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Certificates of deposits in other financial institutions | 1,983 | 2,973 |
Loans held for sale | 1,657 | 1,448 |
Accrued interest receivable | 1,607 | 1,404 |
Short-term borrowings | 3,686 | 13,367 |
Federal Home Loan Bank advances | 22,700 | 11,756 |
Accrued interest payable | 132 | 68 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Demand and Savings Deposits [Member] | ||
Demand and savings deposits | 359,969 | 351,422 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Time Deposits [Member] | ||
Demand and savings deposits | 112,205 | 78,541 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Certificates of deposits in other financial institutions | 1,983 | 2,976 |
Loans held for sale | 1,687 | 1,474 |
Accrued interest receivable | 1,607 | 1,404 |
Short-term borrowings | 3,686 | 13,367 |
Federal Home Loan Bank advances | 22,596 | 11,146 |
Accrued interest payable | 132 | 68 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Demand and Savings Deposits [Member] | ||
Demand and savings deposits | 359,969 | 351,422 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Demand and savings deposits | 112,841 | 78,332 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Held-to-maturity, fair value | 3,786 | 4,024 |
Loans, net | 365,387 | 315,087 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Held-to-maturity, fair value | 3,821 | 4,048 |
Loans, net | $ 366,911 | $ 311,642 |
Note 15 - Parent Company Fina_3
Note 15 - Parent Company Financial Statements - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 |
Available-for-sale securities, fair value | $ 144,010 | $ 144,028 | |
Total assets | 553,936 | 502,619 | |
Shareholders’ equity | 51,166 | 43,761 | $ 43,535 |
Total liabilities & shareholders’ equity | 553,936 | 502,619 | |
Parent Company [Member] | |||
Cash | 38 | 46 | |
Available-for-sale securities, fair value | 1,646 | 1,622 | |
Other assets | 75 | 73 | |
Investment in subsidiary | 49,545 | 42,089 | |
Total assets | 51,304 | 43,830 | |
Other liabilities | 138 | 69 | |
Shareholders’ equity | 51,166 | 43,761 | |
Total liabilities & shareholders’ equity | $ 51,304 | $ 43,830 |
Note 15 - Parent Company Fina_4
Note 15 - Parent Company Financial Statements - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Income before income taxes and equity in undistributed net income of subsidiary | $ 6,579 | $ 4,730 |
Income tax benefit | 1,013 | 1,149 |
Net income | 5,566 | 3,581 |
Comprehensive income | 8,767 | 1,487 |
Parent Company [Member] | ||
Cash dividends from Bank subsidiary | 1,620 | 1,400 |
Other income | 40 | 39 |
Other expense | 408 | 222 |
Income before income taxes and equity in undistributed net income of subsidiary | 1,252 | 1,217 |
Income tax benefit | (49) | (52) |
Income before equity in undistributed net income of Bank subsidiary | 1,301 | 1,269 |
Equity in undistributed net income of subsidiary | 4,265 | 2,312 |
Net income | 5,566 | 3,581 |
Comprehensive income | $ 8,767 | $ 1,487 |
Note 15 - Parent Company Fina_5
Note 15 - Parent Company Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Net income | $ 5,566 | $ 3,581 |
Securities amortization and accretion, net | 784 | 963 |
Net cash flows from operating activities | 6,386 | 5,851 |
Net cash flows from financing activities | 42,053 | 42,958 |
Change in cash and cash equivalents | 1,689 | (2,140) |
Cash and cash equivalents, beginning of year | 7,772 | 9,912 |
Cash and cash equivalents, end of year | 9,461 | 7,772 |
Parent Company [Member] | ||
Net income | 5,566 | 3,581 |
Equity in undistributed net income of Bank subsidiary | (4,265) | (2,312) |
Securities amortization and accretion, net | (10) | (10) |
Change in other assets and liabilities | 63 | 12 |
Net cash flows from operating activities | 1,354 | 1,271 |
Dividend paid | (1,421) | (1,351) |
Issuance of treasury stock for stock awards | 59 | 90 |
Net cash flows from financing activities | (1,362) | (1,261) |
Change in cash and cash equivalents | (8) | 10 |
Cash and cash equivalents, beginning of year | 46 | 36 |
Cash and cash equivalents, end of year | $ 38 | $ 46 |
Note 16 - Earnings Per Share (D
Note 16 - Earnings Per Share (Details Textual) - shares shares in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,103 | 1,828 |
Note 16 - Earnings Per Share -
Note 16 - Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Net income available to common shareholders | $ 5,566 | $ 3,581 |
Weighted average common shares outstanding (in shares) | 2,731,247 | 2,726,926 |
Basic income per share (in dollars per share) | $ 2.04 | $ 1.31 |
Net income available to common shareholders | $ 5,566 | $ 3,581 |
Weighted average common shares outstanding (in shares) | 2,731,247 | 2,726,926 |
Dilutive effect of restricted stock (in shares) | ||
Total common shares and dilutive potential common shares (in shares) | 2,731,247 | 2,726,926 |
Dilutive income per share (in dollars per share) | $ 2.04 | $ 1.31 |
Note 17 - Accumulated Other C_3
Note 17 - Accumulated Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | ||
Accumulated other comprehensive income (loss), before tax | $ (2,069) | $ 675 | |
Unrealized holding gain on available-for-sale securities arising during the period, before tax | 4,612 | (2,711) | |
Amounts reclassified from accumulated other comprehensive income, before tax | [1],[2] | (561) | (33) |
Net current period other comprehensive income (loss), before tax | 4,051 | (2,744) | |
Accumulated other comprehensive income (loss), before tax | 1,982 | (2,069) | |
Accumulated other comprehensive income (loss), tax | 434 | (230) | |
Unrealized holding loss on available-for-sale securities arising during the period, tax | (968) | 638 | |
Amounts reclassified from accumulated other comprehensive income, tax | [1],[2] | 118 | 12 |
Net current period other comprehensive income (loss), tax | (850) | 650 | |
Accumulated other comprehensive income (loss), tax, reclassification of disproportional tax effect | 14 | ||
Accumulated other comprehensive income (loss), tax, before reclassification of disproportional tax effect | (416) | ||
Accumulated other comprehensive income (loss), net | (1,635) | 445 | |
Unrealized holding gain (loss) on available-for-sale securities arising during the period, net | 3,644 | (2,073) | |
Amounts reclassified from accumulated other comprehensive income, net | [1],[2] | (443) | (21) |
Other comprehensive income (loss) | 3,201 | (2,094) | |
Accumulated other comprehensive income (loss), net, reclassification of disproportional tax effect | $ 1,566 | $ 14 | |
[1] | Income tax expense | ||
[2] | Securities gain, net |
Note 18 - Revenue Recognition -
Note 18 - Revenue Recognition - Noninterest Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Noninterest income (in scope of Topic 606) | $ 2,978 | $ 2,721 |
Noninterest income | 4,268 | 3,391 |
Deposit Account [Member] | ||
Noninterest income (in scope of Topic 606) | 1,264 | 1,200 |
Debit Card [Member] | ||
Noninterest income (in scope of Topic 606) | 1,454 | 1,333 |
Financial Service, Other [Member] | ||
Noninterest income (in scope of Topic 606) | 260 | 188 |
Product and Service, Out of Scope of ASC 606 [Member] | ||
Noninterest income | $ 1,290 | $ 670 |