Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Mar. 31, 2014 | 8-May-14 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'MSB FINANCIAL CORP. | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Common Stock, Shares Outstanding | ' | 5,010,437 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001374783 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (Unaudited) (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Cash and due from banks | $3,455 | $19,941 |
Interest-earning demand deposits with banks | 1,276 | 4,814 |
Cash and Cash Equivalents | 4,731 | 24,755 |
Securities held to maturity (fair value of $82,696 and $78,367, respectively) | 85,247 | 80,912 |
Loans receivable, net of allowance for loan losses of $3,727 and $4,270, respectively | 231,063 | 223,256 |
Other real estate owned | 1,181 | 530 |
Premises and equipment | 8,603 | 8,882 |
Federal Home Loan Bank of New York stock, at cost | 1,827 | 1,827 |
Bank owned life insurance | 7,081 | 6,919 |
Accrued interest receivable | 1,187 | 1,229 |
Other assets | 4,446 | 4,282 |
Total Assets | 345,366 | 352,592 |
Deposits: | ' | ' |
Non-interest bearing | 24,673 | 18,559 |
Interest bearing | 247,156 | 261,908 |
Total Deposits | 271,829 | 280,467 |
Advances from Federal Home Loan Bank of New York | 30,000 | 30,000 |
Advance payments by borrowers for taxes and insurance | 485 | 132 |
Other liabilities | 2,567 | 2,480 |
Total Liabilities | 304,881 | 313,079 |
Stockholders’ Equity | ' | ' |
Common stock, par value $0.10; 10,000,000 shares authorized; 5,620,625 issued; 5,010,437 and 5,010,437 shares outstanding, respectively | 562 | 562 |
Paid-in capital | 24,580 | 24,473 |
Retained earnings | 21,424 | 20,682 |
Unallocated common stock held by ESOP (80,094 and 92,740 shares, respectively) | -801 | -927 |
Treasury stock, at cost, 610,188 and 610,188 shares, respectively | -5,244 | -5,244 |
Accumulated other comprehensive loss | -36 | -33 |
Total Stockholders’ Equity | 40,485 | 39,513 |
Total Liabilities and Stockholders’ Equity | $345,366 | $352,592 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Unaudited) (Parentheticals) (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Securities held to maturity, fair value (in Dollars) | $82,696 | $78,367 |
Loans receivable, allowance for loan losses (in Dollars) | $3,727 | $4,270 |
Common stock par value (in Dollars per share) | $0.10 | $0.10 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,620,625 | 5,620,625 |
Common stock, shares outstanding | 5,010,437 | 5,010,437 |
Unallocated common stock held by ESOP, shares | 80,094 | 92,740 |
Treasury stock, shares | 610,188 | 610,188 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Interest Income: | ' | ' | ' | ' |
Loans receivable, including fees | $2,549 | $2,594 | $7,536 | $7,962 |
Securities held to maturity | 466 | 371 | 1,404 | 1,096 |
Other | 23 | 20 | 68 | 69 |
Total Interest Income | 3,038 | 2,985 | 9,008 | 9,127 |
Interest Expense | ' | ' | ' | ' |
Deposits | 394 | 473 | 1,262 | 1,545 |
Borrowings | 191 | 175 | 572 | 519 |
Total Interest Expense | 585 | 648 | 1,834 | 2,064 |
Net Interest Income | 2,453 | 2,337 | 7,174 | 7,063 |
Provision for Loan Losses | 150 | 175 | 450 | 3,894 |
Net Interest Income after Provision for Loan Losses | 2,303 | 2,162 | 6,724 | 3,169 |
Non-Interest Income | ' | ' | ' | ' |
Fees and service charges | 110 | 76 | 310 | 237 |
Income from bank owned life insurance | 53 | 54 | 162 | 162 |
Gain on trading securities | ' | ' | ' | 1 |
Other | 21 | 29 | 75 | 80 |
Total Non-Interest Income | 184 | 159 | 547 | 480 |
Non-Interest Expenses | ' | ' | ' | ' |
Salaries and employee benefits | 947 | 980 | 2,832 | 2,901 |
Directors compensation | 109 | 121 | 336 | 377 |
Occupancy and equipment | 356 | 364 | 1,018 | 1,069 |
Service bureau fees | 161 | 139 | 469 | 405 |
Advertising | 39 | 47 | 110 | 119 |
FDIC assessment | 91 | 73 | 339 | 219 |
Professional services | 131 | 138 | 404 | 423 |
Other | 283 | 326 | 633 | 801 |
Total Non-Interest Expenses | 2,117 | 2,188 | 6,141 | 6,314 |
Income (Loss) before Income Taxes | 370 | 133 | 1,130 | -2,665 |
Income Tax Expense (Benefit) | 127 | 44 | 388 | -1,087 |
Net Income (Loss) | 243 | 89 | 742 | -1,578 |
Weighted average number of common stock shares outstanding - basic and diluted (in Shares) | 4,928 | 4,916 | 4,924 | 4,939 |
Earnings (Loss) per common share - basic and diluted (in Dollars per share) | $0.05 | $0.02 | $0.15 | ($0.32) |
Defined benefit pension plans: | ' | ' | ' | ' |
Reclassification adjustment for prior service cost included in net income, net of tax of $-0- and $2; and $1 and $3, for the three and nine months, respectively. | 1 | 2 | 2 | 5 |
Reclassification adjustment for net actuarial (gain) loss included in net income, net of tax of ($1) and $3; and ($3) and $7, for the three and nine months, respectively. | -2 | 2 | -5 | 7 |
Other comprehensive (loss) income | -1 | 4 | -3 | 12 |
Comprehensive income (loss) | $242 | $93 | $739 | ($1,566) |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Reclassification adjustment for prior service cost included in net income, Tax | $0 | $2 | $1 | $3 |
Reclassification adjustment for net actuarial (gain) loss included in net income, Tax | ($1) | $3 | ($3) | $7 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash Flows from Operating Activities: | ' | ' |
Net Income (Loss) | $742 | ($1,578) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' |
Net accretion of securities discounts and deferred loan fees and costs | -7 | -247 |
Depreciation and amortization of premises and equipment | 376 | 428 |
Stock based compensation and allocation of ESOP stock | 233 | 339 |
Provision for loan losses | 450 | 3,894 |
(Gain) loss on sale of other real estate owned | -123 | 11 |
Income from bank owned life insurance | -162 | -162 |
Unrealized gain on trading securities | ' | -1 |
Decrease in accrued interest receivable | 42 | 197 |
(Increase) in other assets | -162 | -819 |
Increase (decrease) in other liabilities | 82 | -29 |
Net Cash Provided by Operating Activities | 1,471 | 2,033 |
Activity in held to maturity securities: | ' | ' |
Purchases | -8,380 | -64,780 |
Maturities, calls and principal repayments | 3,969 | 35,629 |
Net (increase) decrease in loans receivable | -9,793 | 4,225 |
Purchase of premises and equipment | -97 | -45 |
Purchase of bank owned life insurance | ' | -588 |
Purchase Federal Home Loan bank of New York stock | -202 | -450 |
Redemption of Federal Home Loan bank New York stock | 202 | ' |
Proceeds from sale of other real estate owned | 1,178 | 879 |
Capitalized improvements of other real estate owned | -87 | ' |
Proceeds from sale of trading securities | ' | 53 |
Net Cash Used in Investing Activities | -13,210 | -25,077 |
Cash Flows from Financing Activities: | ' | ' |
Net decrease in deposits | -8,638 | -1,922 |
Advances from Federal Home Loan bank | 3,500 | 10,000 |
Repayment of advances from Federal Home Loan bank | -3,500 | ' |
Increase in advance payments by borrowers for taxes and insurance | 353 | 28 |
Purchase of treasury stock | ' | -472 |
Net Cash (Used in) Provided by Financing Activities | -8,285 | 7,634 |
Net Decrease in Cash and Cash Equivalents | -20,024 | -15,410 |
Cash and Cash Equivalents – Beginning | 24,755 | 33,757 |
Cash and Cash Equivalents – Ending | 4,731 | 18,347 |
Interest paid | 1,838 | 2,064 |
Income taxes paid | 1 | 195 |
Loan receivable transferred to other real estate owned | $1,618 | $2,511 |
Note_1_Organization_and_Busine
Note 1 - Organization and Business | 9 Months Ended |
Mar. 31, 2014 | |
Disclosure Text Block [Abstract] | ' |
Nature of Operations [Text Block] | ' |
Note 1 – Organization and Business | |
MSB Financial Corp. (the “Company”) is a federally-chartered corporation organized in 2004 for the purpose of acquiring all of the capital stock that Millington Savings Bank (the “Bank”) issued in its mutual holding company reorganization. The Company’s principal business is the ownership and operation of the Savings Bank. | |
MSB Financial, MHC (the “MHC”) is a federally-chartered mutual holding company that was formed in 2004 in connection with the mutual holding company reorganization of the Bank. The MHC has not engaged in any significant business other than its ownership interest in the Company since its formation. So long as the MHC is in existence, it will at all times own a majority of the outstanding stock of the Company. At March 31, 2013, the MHC owned 61.7% of the Company’s outstanding common shares. | |
The Bank is a New Jersey chartered stock savings bank and its deposits are insured by the Federal Deposit Insurance Corporation. The primary business of the Bank is attracting retail deposits from the general public and using those deposits together with funds generated from operations, principal repayments on securities and loans and borrowed funds, for its lending and investing activities. The Bank’s loan portfolio primarily consists of one-to-four family residential loans, commercial loans, and consumer loans. It also invests in U.S. government obligations and mortgage-backed securities. The Bank is regulated by the New Jersey Department of Banking and Insurance and the Federal Deposit Insurance Corporation. The Board of Governors of the Federal Reserve System (the “Federal Reserve”) regulates the MHC and the Company as savings and loan holding companies. | |
The primary business of Millington Savings Service Corp (the “Service Corp”) was the ownership and operation of a single commercial rental property. This property was sold during the year ended June 30, 2007. Currently the Service Corp is inactive. |
Note_2_Basis_of_Consolidated_F
Note 2 - Basis of Consolidated Financial Statement Presentation | 9 Months Ended |
Mar. 31, 2014 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
Note 2 – Basis of Consolidated Financial Statement Presentation | |
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the Bank, and the Bank’s wholly owned subsidiary the Service Corp. All significant intercompany accounts and transactions have been eliminated in consolidation. These consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Regulation S-X, and therefore, do not include all information or notes necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”). | |
In the opinion of management, all adjustments, consisting of only normal recurring adjustments or accruals, which are necessary for a fair presentation of the consolidated financial statements have been made at March 31, 2014 and June 30, 2013 and for the three and nine months ended March 31, 2014 and 2013. The results of operations for the three and nine months ended March 31, 2014 are not necessarily indicative of the results which may be expected for the entire fiscal year or other interim periods. | |
The data in the consolidated statement of financial condition at June 30, 2013 was derived from the Company’s audited consolidated financial statements as of and for the year then ended. That data, along with the interim financial information presented in the consolidated statements of financial condition, comprehensive income (loss), and cash flows should be read in conjunction with the audited consolidated financial statements as of and for the year ended June 30, 2013, including the notes thereto included in the Company’s Annual Report on Form 10-K. | |
In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the dates of the consolidated statements of financial condition and revenues and expenses for the periods then ended. Actual results could differ significantly from those estimates. | |
A material estimate that is particularly susceptible to significant change relates to the determination of the allowance for loan losses. Management believes that the allowance for loan losses is adequate. While management uses all available information to recognize losses on loans, future additions to the allowance for loan losses may be necessary based on changes in economic conditions in the Company’s market area. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses. Such agencies may require the Company to recognize additions to the allowance for loan losses based on their judgments about information available to them at the time of their examinations. |
Note_3_Subsequent_Events
Note 3 - Subsequent Events | 9 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Note 3 – Subsequent Events | |
In accordance with Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (the “ASC”) Topic 855, Subsequent Events, management has evaluated potential subsequent events through the date the consolidated financial statements were issued. |
Note_4_Earnings_Loss_Per_Share
Note 4 - Earnings (Loss) Per Share | 9 Months Ended |
Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share [Text Block] | ' |
Note 4 – Earnings (Loss) Per Share | |
Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period, exclusive of the unallocated shares held by the Employee Stock Ownership Plan (“ESOP”) and unvested shares of restricted stock. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as outstanding stock options, were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted earnings (loss) per share is calculated by adjusting the weighted average number of shares of common stock outstanding to include the effect of contracts or securities exercisable (such as stock options) or which could be converted into common stock, if dilutive, using the treasury stock method. Diluted earnings (loss) per share did not differ from basic earnings per share for the three and nine months ended March 31, 2014 and 2013, as the 275,410 weighted average number of outstanding stock options were all anti-dilutive. |
Note_5_Stock_Based_Compensatio
Note 5 - Stock Based Compensation | 9 Months Ended |
Mar. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' |
Note 5 – Stock Based Compensation | |
On March 10, 2008 the Company’s stockholders approved the 2008 Stock Compensation and Incentive Plan (the “2008 Plan”). This plan permits the granting of up to 275,410 options to purchase Company common stock. Pursuant to the 2008 Plan, on May 9, 2008, the Board of Directors granted 275,410 options having an exercise price of $10.75 per share, the fair market value of the Company’s common stock at the grant date. The grant date fair value of the options was estimated to be $2.99 per share based on the Black-Scholes option pricing model. Options are exercisable for 10 years from date of grant. As of June 30, 2013, all stock based compensation expense related to these awards had been recognized. As such, no compensation expense related to these awards was recognized during the three and nine months ended March 31, 2014. The Company recognized $41,000 and $123,000 in stock based compensation expense with a tax benefit of $16,000 and $49,000, related to these awards for the three and nine month periods ended March 31, 2013, respectively. | |
On November 9, 2009 the Company’s 2008 Plan was amended. The primary purpose of the amendment was to increase the number of shares of Company common stock authorized for issuance under the 2008 Plan from 275,410 to 385,574; with such additional shares to be available for awards in the form of restricted stock awards. The Company repurchased 110,164 shares of the Company common stock for an aggregate purchase price of $932,000 and on December 14, 2009 granted the shares to certain employees and directors. The restricted stock awards vest over a five year period and are expensed over that time based on the fair value of the Company’s common stock at the date of grant. During each of the three and nine month periods ended March 31, 2014 and 2013, the Company recognized stock based compensation expense related to these awards of $45,000 and $135,000 with a tax benefit of $18,000 and $54,000, respectively. As of March 31, 2014, $126,000 in stock based compensation expense related to these awards remains to be recognized. |
Note_6_Fair_Value_Measurements
Note 6 - Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||
Note 6 - Fair Value Measurements | |||||||||||||||||||||
The Company uses fair value measurements to record fair value adjustments to certain assets and to determined fair value disclosures. | |||||||||||||||||||||
FASB ASC Topic 820, Fair Market Value Disclosures (“ASC 820”), defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. | |||||||||||||||||||||
ASC 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, ASC 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | |||||||||||||||||||||
● | Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | ||||||||||||||||||||
● | Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. | ||||||||||||||||||||
• | Level 3 Inputs – Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. | ||||||||||||||||||||
A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||
In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. | |||||||||||||||||||||
Assets Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||
The Bank did not have any financial assets measured at fair value on a recurring basis as of March 31, 2014 and June 30, 2013. | |||||||||||||||||||||
Assets Measured at Fair Value on a Non-Recurring Basis | |||||||||||||||||||||
Certain financial and non-financial assets are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). | |||||||||||||||||||||
The following table summarizes those assets measured at fair value on a non-recurring basis as of March 31, 2014 and June 30, 2013: | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 3,287 | $ | 3,287 | |||||||||||||
30-Jun-13 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 15,066 | $ | 15,066 | |||||||||||||
For Level 3 assets measured at fair value on non-recurring basis as of March 31, 2014 and June 30, 2013, the significant unobservable inputs used in fair value measurements were as follows: | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range (Weighted Average) | ||||||||||||||||||
Estimate | Techniques | Input | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Impaired loans | $ | 3,287 | Appraisal ofcollateral | Appraisaladjustments Liquidation expense | |||||||||||||||||
0% | to | -25.00% | -18.90% | ||||||||||||||||||
4.50% | to | -17.20% | -7.10% | ||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range (Weighted Average) | ||||||||||||||||||
Estimate | Techniques | Input | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Impaired loans | $ | 15,066 | Appraisal of collateral | Appraisal adjustments Liquidation expense | |||||||||||||||||
0% | to | -37.90% | -3.50% | ||||||||||||||||||
0.11% | to | -27.40% | -7.90% | ||||||||||||||||||
An impaired loan is measured for impairment at the time the loan is identified as impaired. Loans are considered impaired when based on current information and events it is probable that payments of interest and principal will not be made in accordance with the contractual terms of the loan agreement. The Company’s impaired loans are generally collateral dependent and, as such, are carried at the lower of cost or estimated fair value less estimated selling costs. Fair values are estimated through current appraisals and adjusted as necessary to reflect current market conditions and as such are classified as Level 3. | |||||||||||||||||||||
Other real estate owned is carried at the lower of cost or fair value less estimated selling costs. The fair value of other real estate owned is determined based upon independent third-party appraisals of the properties. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. As of March 31, 2014 and June 30, 2013 there was no further impairment of the other real estate owned balance below the cost basis established at the time the other real estate owned was originally recognized. Accordingly, the table above does not include other real estate owned. | |||||||||||||||||||||
Disclosure about Fair Value of Financial Instruments | |||||||||||||||||||||
Fair value of a financial instrument is defined above. Significant estimates were used for the purposes of disclosing fair values. Estimated fair values have been determined using the best available data and estimation methodology suitable for each category of financial instruments. However, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective reporting dates, and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported. | |||||||||||||||||||||
The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. | |||||||||||||||||||||
The following presents the carrying amount and the fair value as of March 31, 2014 and June 30, 2013, and placement in the fair value hierarchy, of the Company’s financial instruments which are carried on the consolidated statement of financial condition at cost and are not recorded at fair value on a recurring basis. This table excludes financial instruments for which the carrying amount approximates fair value, which includes cash and cash equivalents, Federal Home Loan Bank stock, accrued interest receivable, interest and non-interest bearing demand, savings and club deposits, and accrued interest payable. | |||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | |||||||||||||||||
As of March 31, 2014 | Amount | Value | Inputs | Inputs | Inputs | ||||||||||||||||
(In thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | $ | 85,247 | $ | 82,696 | $ | - | $ | 82,696 | $ | - | |||||||||||
Loans receivable (1) | 231,063 | 230,372 | - | - | 230,372 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Certificate of deposits | 98,106 | 99,755 | - | 99,755 | - | ||||||||||||||||
Advances from Federal Home Loan Bank of New York | 30,000 | 31,113 | - | 31,113 | - | ||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | 80,912 | 78,367 | - | 78,367 | - | ||||||||||||||||
Loans receivable (1) | 223,256 | 227,556 | - | 227,556 | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Certificate of deposits | 109,948 | 111,797 | - | 111,797 | - | ||||||||||||||||
Advances from Federal Home Loan Bank of New York | 30,000 | 32,208 | - | 32,208 | - | ||||||||||||||||
(1) Includes impaired loans measured at fair value on a non-recurring basis as discussed above. | |||||||||||||||||||||
Methods and assumptions used to estimate fair values of financial instruments not previously disclosed are as follows: | |||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||
For cash and cash equivalents, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||
The fair value for securities held to maturity is based on quoted market prices, where available. If quoted market prices are not available, fair value is estimated using quoted market prices for similar securities. | |||||||||||||||||||||
Loans Receivable | |||||||||||||||||||||
The fair value of loans is based upon a multitude of sources, including assumed current market rates by category and the Company’s current offering rates. Both fixed and variable rate loan fair values are derived at using a discounted cash flow methodology. For variable rate loans, repricing term, including next repricing date, repricing frequency and repricing rate are factored into the discounted cash flow formula. | |||||||||||||||||||||
Federal Home Loan Bank of New York Stock | |||||||||||||||||||||
The carrying amount of Federal Home Loan Bank of New York stock approximates fair value since the Company is generally able to redeem this stock at par. | |||||||||||||||||||||
Accrued Interest Receivable and Payable | |||||||||||||||||||||
The carrying amounts of accrued interest receivable and payable approximate fair value due to the short term nature of these instruments. | |||||||||||||||||||||
Deposits | |||||||||||||||||||||
Fair values for demand and savings and club accounts are, by definition, equal to the amount payable on demand at the reporting date. Fair values of certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on similar instruments with similar maturities. | |||||||||||||||||||||
Advances from Federal Home Loan Bank of New York | |||||||||||||||||||||
Fair values of advances are estimated using discounted cash flow analyses, based on rates currently available to the Company for advances from the Federal Home Loan Bank of New York with similar terms and remaining maturities. | |||||||||||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||||||
Fair values of commitments to extend credit are estimated using the fees currently charged to enter into similar agreements, taking into account market interest rates, the remaining terms, and the present credit worthiness of the counterparties. As of March 31, 2014 and June 30, 2013, the fair value of the commitments to extend credit was not considered to be material. |
Note_7_Loans_Receivable_and_Al
Note 7 - Loans Receivable and Allowance for Credit Losses | 9 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||
Note 7 - Loans Receivable and Allowance for Credit Losses | |||||||||||||||||||||||||||||||||
The composition of loans receivable at March 31, 2014 and June 30, 2013 was as follows: | |||||||||||||||||||||||||||||||||
31-Mar-14 | 30-Jun-13 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 143,355 | $ | 136,704 | |||||||||||||||||||||||||||||
Home equity | 38,797 | 40,682 | |||||||||||||||||||||||||||||||
182,152 | 177,386 | ||||||||||||||||||||||||||||||||
Commercial real estate | 32,441 | 32,171 | |||||||||||||||||||||||||||||||
Construction | 11,559 | 8,895 | |||||||||||||||||||||||||||||||
Commercial and industrial | 10,523 | 9,267 | |||||||||||||||||||||||||||||||
54,523 | 50,333 | ||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Deposit accounts | 550 | 611 | |||||||||||||||||||||||||||||||
Automobile | 19 | 111 | |||||||||||||||||||||||||||||||
Personal | 35 | 32 | |||||||||||||||||||||||||||||||
Overdraft protection | 189 | 175 | |||||||||||||||||||||||||||||||
793 | 929 | ||||||||||||||||||||||||||||||||
237,468 | 228,648 | ||||||||||||||||||||||||||||||||
Loans in process | (2,297 | ) | (745 | ) | |||||||||||||||||||||||||||||
Deferred loan fees | (381 | ) | (377 | ) | |||||||||||||||||||||||||||||
$ | 234,790 | $ | 227,526 | ||||||||||||||||||||||||||||||
Loans are stated at their outstanding unpaid principal balances, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct loan origination costs, are deferred and recognized as an adjustment of the yield (interest income) of the related loans. The Company is generally amortizing these amounts over the contractual life of the loan. | |||||||||||||||||||||||||||||||||
For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. Certain loans may remain on accrual status if they are in the process of collection and are either guaranteed or well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to management’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. | |||||||||||||||||||||||||||||||||
The allowance for credit losses consists of the allowance for loan losses and the reserve for unfunded lending commitments. The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the statement of financial condition date and is recorded as a reduction to loans. The reserve for unfunded lending commitments represents management’s estimate of losses inherent in its unfunded loan commitments and is recorded in other liabilities, when required, on the consolidated statement of financial condition. The allowance for credit losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. All, or part, of the principal balance of loans receivable that are deemed uncollectible are charged against the allowance for loan losses when management determines that the repayment of that amount is highly unlikely. Any subsequent recoveries are credited to the allowance for loan losses. Non-residential consumer loans are generally charged off if they are more than 120 days past due on a contractual basis, earlier in the event of bankruptcy, or if there is an amount deemed uncollectible. | |||||||||||||||||||||||||||||||||
The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. | |||||||||||||||||||||||||||||||||
In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examinations. | |||||||||||||||||||||||||||||||||
The allowance calculation methodology includes segregation of the total loan portfolio into segments. The Company’s loans receivable portfolio is comprised of the following segments: residential mortgage; commercial real estate; construction; commercial and industrial; and consumer. Some segments of the Company’s loan receivable portfolio are further disaggregated into classes which allows management to more accurately monitor risk and performance. | |||||||||||||||||||||||||||||||||
The residential mortgage loan segment is disaggregated into two classes: one-to-four family loans, which are primarily first liens, and home equity loans, which consist of first and second liens. The commercial real estate loan segment includes owner and non-owner occupied loans which have medium risk based on historical experience with these type loans. The construction loan segment is further disaggregated into two classes: one-to-four family owner occupied, which includes land loans, whereby the owner is known and there is less risk, and other, whereby the property is generally under development and tends to have more risk than the one-to-four family owner occupied loans. The commercial and industrial loan segment consists of loans made for the purpose of financing the activities of commercial customers. The majority of commercial and industrial loans are secured by real estate and thus carry a lower risk than traditional commercial and industrial loans. The consumer loan segment consists primarily of installment loans and overdraft lines of credit connected with customer deposit accounts. | |||||||||||||||||||||||||||||||||
The allowance for loan losses consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired. For loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative factors. These qualitative risk factors include: | |||||||||||||||||||||||||||||||||
1 | Lending policies and procedures, including underwriting standards and collection, charge-off, and recovery practices. | ||||||||||||||||||||||||||||||||
2 | National, regional, and local economic and business conditions as well as the condition of various market segments, including the value of underlying collateral for collateral dependent loans. | ||||||||||||||||||||||||||||||||
3 | Nature and volume of the portfolio and terms of loans. | ||||||||||||||||||||||||||||||||
4 | Experience, ability, and depth of lending management and staff. | ||||||||||||||||||||||||||||||||
5 | Volume and severity of past due, classified and nonaccrual loans as well as and other loan modifications. | ||||||||||||||||||||||||||||||||
6 | Quality of the Company’s loan review system, and the degree of oversight by the Company’s Board of Directors. | ||||||||||||||||||||||||||||||||
7 | Existence and effect of any concentrations of credit and changes in the level of such concentrations. | ||||||||||||||||||||||||||||||||
8 | Effect of external factors, such as competition and legal and regulatory requirements. | ||||||||||||||||||||||||||||||||
Each factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. | |||||||||||||||||||||||||||||||||
An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. | |||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
Management evaluates individual loans in all of the loan segments (including loans in residential mortgage and consumer segments) for possible impairment if the recorded investment in the loan is greater than $200,000 and if the loan is either in nonaccrual status or is risk rated Substandard or worse or has been modified in a troubled debt restructuring. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. 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. | |||||||||||||||||||||||||||||||||
Loans the terms of which are modified are classified as a troubled debt restructuring (“TDR”) if the Company grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a TDR generally involve a reduction in interest rate, a below market rate given the associated credit risk, or an extension of a loan’s stated maturity date. Non-accrual TDRs are restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive months after modification. Loans classified as TDRs are designated as impaired until they are ultimately repaid in full or foreclosed and sold. The nature and extent of impairment of TDRs, including those which experienced a subsequent default, are considered in the determination of an appropriate level of allowance for loan losses. | |||||||||||||||||||||||||||||||||
Once the determination has been made that a loan is impaired, impairment is measured by comparing the recorded investment in the loan to one of the following: (a) the present value of expected cash flows (discounted at the loan’s effective interest rate), (b) the loan’s observable market price or (c) the fair value of collateral adjusted for expected selling costs. The method is selected on a loan-by-loan basis with management primarily utilizing the fair value of collateral method. | |||||||||||||||||||||||||||||||||
The estimated fair values of the real estate collateral are determined primarily through third-party appraisals. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property. | |||||||||||||||||||||||||||||||||
The estimated fair values of the non-real estate collateral, such as accounts receivable, inventory and equipment, are determined based on the borrower’s financial statements, inventory reports, accounts receivable agings or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. | |||||||||||||||||||||||||||||||||
The evaluation of the need and amount of the allowance for impaired loans and whether a loan can be removed from impairment status is made on a quarterly basis. The Company’s policy for recognizing interest income on impaired loans does not differ from its overall policy for interest recognition. | |||||||||||||||||||||||||||||||||
The following tables present impaired loans by class, segregated by those for which a related allowance was required and those for which a related allowance was not necessary as of March 31, 2014 and June 30, 2013. The average recorded investment and interest income recognized is presented for the three and nine month periods ended March 31, 2014 and 2013. | |||||||||||||||||||||||||||||||||
31-Mar-14 | 30-Jun-13 | ||||||||||||||||||||||||||||||||
Unpaid | Unpaid | ||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Principal | Related | ||||||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Balance | Allowance | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 15,780 | $ | 16,532 | $ | - | $ | 13,817 | $ | 14,747 | $ | - | |||||||||||||||||||||
Home equity | 1,640 | 1,599 | - | 3,376 | 3,406 | - | |||||||||||||||||||||||||||
Commercial real estate | 1,137 | 1,193 | - | 1,796 | 1,867 | - | |||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 1,936 | - | - | |||||||||||||||||||||||||||||
Other | 750 | 750 | - | 1,601 | 1,510 | - | |||||||||||||||||||||||||||
Commercial and industrial | 504 | 688 | - | 750 | 1,103 | - | |||||||||||||||||||||||||||
21,518 | 22,698 | - | 21,340 | 22,633 | - | ||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 269 | 392 | 17 | 1,469 | 1,720 | 58 | |||||||||||||||||||||||||||
Home equity | 134 | 249 | 8 | 891 | 1,214 | 233 | |||||||||||||||||||||||||||
Commercial real estate | 557 | 957 | 14 | 1,444 | 1,804 | 88 | |||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | - | - | - | 1,707 | 1,936 | 23 | |||||||||||||||||||||||||||
Other | 137 | 138 | 32 | - | - | - | |||||||||||||||||||||||||||
Commercial and industrial | 329 | 502 | 78 | 150 | 100 | 31 | |||||||||||||||||||||||||||
1,426 | 2,238 | 149 | 5,661 | 6,774 | 433 | ||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 16,049 | 16,924 | 17 | 15,286 | 16,467 | 58 | |||||||||||||||||||||||||||
Home equity | 1,774 | 1,848 | 8 | 4,267 | 4,620 | 233 | |||||||||||||||||||||||||||
Commercial real estate | 1,694 | 2,150 | 14 | 3,240 | 3,671 | 88 | |||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 1,936 | - | 1,707 | 1,936 | 23 | |||||||||||||||||||||||||||
Other | 887 | 888 | 32 | 1,601 | 1,510 | - | |||||||||||||||||||||||||||
Commercial and industrial | 833 | 1,190 | 78 | 900 | 1,203 | 31 | |||||||||||||||||||||||||||
$ | 22,944 | $ | 24,936 | $ | 149 | $ | 27,001 | $ | 29,407 | $ | 433 | ||||||||||||||||||||||
-1 | As of March 31, 2014 and June 30, 2013, impaired loans listed above included $16.6 million and $18.1 million, respectively, of loans previously modified in TDRs and as such are considered impaired under GAAP. As of March 31, 2014 and June 30, 2013, $13.6 million and $11.8 million, respectively, of these loans have been performing in accordance with their modified terms for an extended period of time and as such remain in accrual status. | ||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 15,376 | $ | 163 | $ | 12,350 | $ | 139 | |||||||||||||||||||||||||
Home equity | 1,640 | 6 | 3,558 | 30 | |||||||||||||||||||||||||||||
Commercial real estate | 1,096 | 9 | 1,202 | 20 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 24 | - | - | |||||||||||||||||||||||||||||
Other | 750 | 8 | 494 | 9 | |||||||||||||||||||||||||||||
Commercial and industrial | 659 | 7 | 648 | 7 | |||||||||||||||||||||||||||||
21,228 | 217 | 18,252 | 205 | ||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 269 | - | 2,853 | 13 | |||||||||||||||||||||||||||||
Home equity | 134 | - | 904 | - | |||||||||||||||||||||||||||||
Commercial real estate | 559 | 10 | 1,902 | 8 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | - | - | 1,705 | 21 | |||||||||||||||||||||||||||||
Other | 137 | 1 | 644 | - | |||||||||||||||||||||||||||||
Commercial and industrial | 177 | 1 | 378 | 1 | |||||||||||||||||||||||||||||
Consumer | 2 | - | - | - | |||||||||||||||||||||||||||||
1,278 | 12 | 8,386 | 43 | ||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 15,645 | 163 | 15,203 | 152 | |||||||||||||||||||||||||||||
Home equity | 1,774 | 6 | 4,462 | 30 | |||||||||||||||||||||||||||||
Commercial real estate | 1,655 | 19 | 3,104 | 28 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 24 | 1,705 | 21 | |||||||||||||||||||||||||||||
Other | 887 | 9 | 1,138 | 9 | |||||||||||||||||||||||||||||
Commercial and industrial | 836 | 8 | 1,026 | 8 | |||||||||||||||||||||||||||||
Consumer | 2 | - | - | - | |||||||||||||||||||||||||||||
$ | 22,506 | $ | 229 | $ | 26,638 | $ | 248 | ||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 14,733 | $ | 476 | $ | 11,519 | $ | 307 | |||||||||||||||||||||||||
Home equity | 2,089 | 34 | 3,404 | 99 | |||||||||||||||||||||||||||||
Commercial real estate | 1,261 | 29 | 1,729 | 48 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,280 | 72 | 484 | - | |||||||||||||||||||||||||||||
Other | 963 | 30 | 438 | 9 | |||||||||||||||||||||||||||||
Commercial and industrial | 762 | 25 | 483 | 17 | |||||||||||||||||||||||||||||
21,088 | 666 | 18,057 | 480 | ||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 790 | - | 3,657 | 48 | |||||||||||||||||||||||||||||
Home equity | 368 | - | 699 | 7 | |||||||||||||||||||||||||||||
Commercial real estate | 940 | 28 | 1,528 | 14 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 426 | - | 1,111 | 62 | |||||||||||||||||||||||||||||
Other | 103 | 2 | 807 | - | |||||||||||||||||||||||||||||
Commercial and Industrial | 92 | 2 | 524 | 3 | |||||||||||||||||||||||||||||
Consumer | - | - | - | - | |||||||||||||||||||||||||||||
2,719 | 32 | 8,326 | 134 | ||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 15,523 | 476 | 15,176 | 355 | |||||||||||||||||||||||||||||
Home equity | 2,457 | 34 | 4,103 | 106 | |||||||||||||||||||||||||||||
Commercial real estate | 2,201 | 57 | 3,257 | 62 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,706 | 72 | 1,595 | 62 | |||||||||||||||||||||||||||||
Other | 1,066 | 32 | 1,245 | 9 | |||||||||||||||||||||||||||||
Commercial and Industrial | 854 | 27 | 1,007 | 20 | |||||||||||||||||||||||||||||
Consumer | - | - | - | - | |||||||||||||||||||||||||||||
$ | 23,807 | $ | 698 | $ | 26,383 | $ | 614 | ||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||
Management uses a ten point internal risk rating system to monitor the credit quality of the loans in the Company’s commercial real estate, construction and commercial and industrial loan segments. The borrower’s overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually or when credit deficiencies, such as delinquent loan payments, arise. The criticized rating categories utilized by management generally follow bank regulatory definitions. The first six risk rating categories are considered not criticized, and are aggregated as “Pass” rated. The “Special Mention” category includes assets that are currently protected, but are potentially weak, resulting in increased credit risk and deserving management’s close attention. If uncorrected, the potential weaknesses may result in deterioration of the repayment prospects. Loans classified “Substandard” have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. These include loans that are inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified “Doubtful” have all the weaknesses inherent in loans classified “Substandard” with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. Loans classified as a “Loss” are considered uncollectible and subsequently charged off. | |||||||||||||||||||||||||||||||||
The following tables present the classes of the loans receivable portfolio summarized by the aggregate “Pass” and the criticized categories of “Special Mention”, “Substandard”, “Doubtful” and “Loss” within the internal risk rating system as of March 31, 2014 and June 30, 2013: | |||||||||||||||||||||||||||||||||
As of March 31, 2014 | Pass | Special Mention | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 28,982 | $ | 2,044 | $ | 1,338 | $ | - | $ | 2 | $ | 32,366 | |||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner occupied | 427 | - | 1,844 | - | - | 2,271 | |||||||||||||||||||||||||||
Other | 6,474 | 447 | - | - | 32 | 6,953 | |||||||||||||||||||||||||||
Commercial and Industrial | 9,435 | 107 | 886 | 68 | 10 | 10,506 | |||||||||||||||||||||||||||
Total | $ | 45,318 | $ | 2,598 | $ | 4,068 | $ | 68 | $ | 44 | $ | 52,096 | |||||||||||||||||||||
As of June 30, 2013 | Pass | Special Mention | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 27,025 | $ | 2,491 | $ | 2,515 | $ | - | $ | 72 | $ | 32,103 | |||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner occupied | 2,845 | - | 1,693 | - | 14 | 4,552 | |||||||||||||||||||||||||||
Other | 1,980 | 988 | - | 601 | - | 3,569 | |||||||||||||||||||||||||||
Commercial and Industrial | 8,188 | 113 | 923 | - | 22 | 9.246 | |||||||||||||||||||||||||||
Total | $ | 40,038 | $ | 3,592 | $ | 5,131 | $ | 601 | $ | 108 | $ | 49,470 | |||||||||||||||||||||
Management further monitors the performance and credit quality of the loan receivable portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables represent the classes of the loans receivable portfolio summarized by aging categories of performing loans and non-accrual loans as of March 31, 2014 and June 30, 2013: | |||||||||||||||||||||||||||||||||
As of March 31, 2014 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days | Total | Current | Total Loans | Nonaccrual | Loans Receivable > | |||||||||||||||||||||||||
Past Due | Receivables | Loans | 90 Days and | ||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 2,859 | 860 | 2,569 | 6,288 | $ | 136,893 | $ | 143,181 | $ | 4,317 | $ | 868 | ||||||||||||||||||||
Home equity | 37 | 553 | 1,097 | 1,687 | 37,033 | 38,720 | 1,418 | 177 | |||||||||||||||||||||||||
Commercial real estate | - | - | 966 | 966 | 31,400 | 32,366 | 1,103 | 427 | |||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner occupied | - | - | - | - | 2,271 | 2,271 | - | - | |||||||||||||||||||||||||
Other | - | - | - | - | 6,953 | 6,953 | - | - | |||||||||||||||||||||||||
Commercial and industrial | - | - | - | - | 10,506 | 10,506 | 820 | - | |||||||||||||||||||||||||
Consumer | 8 | - | 388 | 396 | 397 | 793 | - | - | |||||||||||||||||||||||||
Total | $ | 2,904 | $ | 1.413 | $ | 5,020 | $ | 9,337 | $ | 225,453 | $ | 234,790 | $ | 7,658 | $ | 1,472 | |||||||||||||||||
As of June 30, 2013 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days | Total | Current | Total Loans | Nonaccrual | Loans Receivable > | |||||||||||||||||||||||||
Past Due | Receivables | Loans | 90 Days and | ||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 3,910 | 1,525 | 5,822 | 11,257 | $ | 125,189 | $ | 136,446 | $ | 7,955 | $ | 501 | ||||||||||||||||||||
Home equity | 412 | 127 | 1,317 | 1,856 | 38,825 | 40,681 | 1,502 | 146 | |||||||||||||||||||||||||
Commercial real estate | 782 | - | 1,805 | 2,587 | 29,516 | 32,103 | 2,587 | - | |||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner occupied | - | - | - | - | 4,552 | 4,552 | - | - | |||||||||||||||||||||||||
Other | 1,000 | - | 601 | 1,601 | 1,968 | 3,569 | 601 | - | |||||||||||||||||||||||||
Commercial and industrial | 472 | 49 | 280 | 801 | 8,445 | 9,246 | - | - | |||||||||||||||||||||||||
Consumer | 5 | - | - | 5 | 924 | 929 | 802 | - | |||||||||||||||||||||||||
Total | $ | 6,581 | $ | 1,701 | $ | 9,825 | $ | 18,107 | $ | 209,419 | $ | 227,526 | $ | 13,447 | $ | 647 | |||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
The following tables summarize the allowance for loan losses, by the portfolio segment segregated into the amounts required for loans individually evaluated for impairment and the amounts required for loans collectively evaluated for impairment as of March 31, 2014 and June 30, 2013. The activity in the allowance for loan losses is presented for the three and nine month periods ended March 31, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Commercial and | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Real Estate | Industrial | |||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 2,317 | $ | 714 | $ | 312 | $ | 373 | $ | 10 | $ | 1 | $ | 3,727 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 25 | $ | 14 | $ | 32 | $ | 78 | $ | - | $ | - | $ | 149 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,292 | $ | 700 | $ | 280 | $ | 295 | $ | 10 | $ | 1 | $ | 3,578 | |||||||||||||||||||
Loans receivables: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 181,901 | $ | 32,366 | $ | 9,224 | $ | 10,506 | $ | 793 | $ | - | $ | 234,790 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 17,823 | $ | 1,694 | $ | 2,594 | $ | 833 | $ | - | $ | - | $ | 22,944 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 164,078 | $ | 30,672 | $ | 6,630 | $ | 9,673 | $ | 793 | $ | - | $ | 211,846 | |||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Commercial and | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Real Estate | Industrial | |||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 3,036 | $ | 706 | $ | 238 | $ | 276 | $ | 11 | $ | 3 | $ | 4,270 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 291 | $ | 88 | $ | 23 | $ | 31 | $ | - | $ | - | $ | 433 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,745 | $ | 618 | $ | 215 | $ | 245 | $ | 11 | $ | 3 | $ | 3,837 | |||||||||||||||||||
Loans receivables: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 177,127 | $ | 32,103 | $ | 8,121 | $ | 9,246 | $ | 929 | $ | - | $ | 227,526 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 19,553 | $ | 3,240 | $ | 3,308 | $ | 900 | $ | - | $ | - | $ | 27,001 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 157,574 | $ | 28,863 | $ | 4,813 | $ | 8,346 | $ | 929 | $ | - | $ | 200,525 | |||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | and | ||||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 2,366 | $ | 619 | $ | 286 | $ | 293 | $ | 12 | $ | 3 | $ | 3,579 | |||||||||||||||||||
Charge-offs | - | - | - | - | (2 | ) | - | (2 | ) | ||||||||||||||||||||||||
Recoveries | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Provisions | (49 | ) | 95 | 26 | 80 | - | (2 | ) | 150 | ||||||||||||||||||||||||
Ending balance | $ | 2,317 | $ | 714 | $ | 312 | $ | 373 | $ | 10 | $ | 1 | $ | 3,727 | |||||||||||||||||||
Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | and | ||||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 3,036 | $ | 706 | $ | 238 | $ | 276 | $ | 11 | $ | 3 | $ | 4,270 | |||||||||||||||||||
Charge-offs | (498 | ) | (340 | ) | (119 | ) | (54 | ) | (2 | ) | - | (1,013 | ) | ||||||||||||||||||||
Recoveries | 11 | - | - | 9 | - | - | 20 | ||||||||||||||||||||||||||
Provisions | (232 | ) | 348 | 193 | 142 | 1 | (2 | ) | 450 | ||||||||||||||||||||||||
Ending balance | $ | 2,317 | $ | 714 | $ | 312 | $ | 373 | $ | 10 | $ | 1 | $ | 3,727 | |||||||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | and | ||||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 3,148 | $ | 1,109 | $ | 469 | $ | 546 | $ | 48 | $ | - | $ | 5,320 | |||||||||||||||||||
Charge-offs | (457 | ) | (225 | ) | (85 | ) | (180 | ) | (5 | ) | - | (952 | ) | ||||||||||||||||||||
Recoveries | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Provisions | 539 | (186 | ) | (83 | ) | (71 | ) | (34 | ) | 10 | 175 | ||||||||||||||||||||||
Ending balance | $ | 3,230 | $ | 698 | $ | 301 | $ | 295 | $ | 9 | $ | 10 | $ | 4,543 | |||||||||||||||||||
Nine Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | and | ||||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 1,808 | $ | 445 | $ | 527 | $ | 272 | $ | 13 | $ | - | $ | 3,065 | |||||||||||||||||||
Charge-offs | (1,483 | ) | (348 | ) | (333 | ) | (297 | ) | (4 | ) | - | (2,465 | ) | ||||||||||||||||||||
Recoveries | 49 | - | - | - | - | - | 49 | ||||||||||||||||||||||||||
Provisions | 2,856 | 601 | 107 | 320 | - | 10 | 3,894 | ||||||||||||||||||||||||||
Ending balance | $ | 3,230 | $ | 698 | $ | 301 | $ | 295 | $ | 9 | $ | 10 | $ | 4,543 | |||||||||||||||||||
Federal regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses and may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to management. Based on management’s comprehensive analysis of the loan portfolio, management believes the current level of the allowance for loan losses is adequate. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||
The recorded investment balance of TDRs totaled $16.6 million and $18.1 million at March 31, 2014 and June 30, 2013 respectively. TDRs on accrual status were $13.6 million and $11.8 million at March 31, 2014 and June 30, 2013, while TDRs on non-accrual status were $3.0 million and $6.2 million at these respective dates. At March 31, 2014 and June 30, 2013, the allowance for loan losses included specific reserves of $41,000 and $152,000 related to TDRs respectively. | |||||||||||||||||||||||||||||||||
The following table summarizes by class loans modified in troubled debt restructurings during the three and nine-month periods ended March 31, 2014. There was one loan modified in troubled debt restructurings during the three months ended March 31, 2014. The Company had two loans modified in troubled debt restructurings during the nine month period ended March 31, 2014. One loan was re-amortized based on its current balance with no changes to interest rate or remaining term. Another loan had its balance increased due to the capitalization of property taxes and other fees. The Bank thereafter requires a monthly escrow for property taxes. In addition, the Bank also granted an interest-only period of 17 months. Once the interest-only period ends, the interest rate will decrease by 0.50% and repayments will include all principal, interest and escrow. The Bank also released one of the co-borrowers from the obligations under the loan. The final maturity date remained unchanged. | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 1 | $ | 235 | $ | 255 | |||||||||||||||||||||||||||
Total | $ | 1 | $ | 235 | $ | 255 | |||||||||||||||||||||||||||
Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 2 | $ | 1,054 | $ | 1,071 | |||||||||||||||||||||||||||
Total | $ | 2 | $ | 1,054 | $ | 1,071 | |||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 2 | $ | 1,396 | $ | 1,400 | |||||||||||||||||||||||||||
Commercial real estate | 2 | 885 | 831 | ||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Other | 1 | 1,150 | 987 | ||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 68 | 68 | ||||||||||||||||||||||||||||||
Total | $ | 7 | $ | 3,499 | $ | 3,286 | |||||||||||||||||||||||||||
Nine Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 8 | $ | 3,116 | $ | 3,110 | |||||||||||||||||||||||||||
Commercial real estate | 2 | 885 | 831 | ||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Other | 1 | 1,150 | 987 | ||||||||||||||||||||||||||||||
Commercial and industrial | 4 | 214 | 214 | ||||||||||||||||||||||||||||||
Total | $ | 15 | $ | 5,365 | $ | 5,142 | |||||||||||||||||||||||||||
The following table summarizes loans modified in TDR during the previous 12 months and for which there was a subsequent payment default during the three and nine months ended March 31, 2014. The Company did not have any loans modified in TDR during the previous 12 months and for which there was a subsequent payment default during the three and nine months ended March 31, 2013. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1 | $ | 49 | 23 | ||||||||||||||||||||||||||||
Total | $ | 1 | $ | 49 | $ | 23 | |||||||||||||||||||||||||||
Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1 | $ | 409 | $ | 409 | |||||||||||||||||||||||||||
Commercial and industrial | 1 | 49 | 23 | ||||||||||||||||||||||||||||||
Total | $ | 2 | $ | 458 | $ | 432 | |||||||||||||||||||||||||||
Note_8_Securities_Held_to_Matu
Note 8 - Securities Held to Maturity | 9 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investment Holdings [Abstract] | ' | ||||||||||||||||||||||||
Investment Holdings [Text Block] | ' | ||||||||||||||||||||||||
Note 8 - Securities Held to Maturity | |||||||||||||||||||||||||
The amortized cost of securities held to maturity and their fair values as of March 31, 2014 and June 30, 2013, are summarized as follows: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
31-Mar-14 | (In Thousands) | ||||||||||||||||||||||||
U.S Government agencies: | |||||||||||||||||||||||||
Due after one year to five years | $ | 9,500 | $ | - | $ | 209 | $ | 9,291 | |||||||||||||||||
Due after five through ten years | 25,677 | 19 | 1,038 | 24,658 | |||||||||||||||||||||
Due after ten years | 14,000 | 57 | 1,076 | 12,981 | |||||||||||||||||||||
49,177 | 76 | 2,323 | 46,930 | ||||||||||||||||||||||
Mortgage-backed securities | 26,394 | 331 | 692 | 26,033 | |||||||||||||||||||||
Corporate bonds: | |||||||||||||||||||||||||
Due after one year to five years | 4,640 | 46 | 13 | 4,673 | |||||||||||||||||||||
Certificates of deposit: | |||||||||||||||||||||||||
Due after one year to five years | 5,036 | 27 | 3 | 5,060 | |||||||||||||||||||||
$ | 85,247 | $ | 480 | $ | 3,031 | $ | 82,696 | ||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
30-Jun-13 | (In Thousands) | ||||||||||||||||||||||||
U.S Government agencies: | |||||||||||||||||||||||||
Due after one year to five years | $ | 4,000 | $ | - | $ | 88 | $ | 3,912 | |||||||||||||||||
Due after five through ten years | 28,194 | - | 1,195 | 26,999 | |||||||||||||||||||||
Due thereafter | 14,000 | 84 | 848 | 13,236 | |||||||||||||||||||||
46,194 | 84 | 2,131 | 44,147 | ||||||||||||||||||||||
Mortgage-backed securities | 24,768 | 297 | 754 | 24,311 | |||||||||||||||||||||
Corporate bonds: | |||||||||||||||||||||||||
Due after one year to five years | 2,571 | 7 | 35 | 2,543 | |||||||||||||||||||||
Due after five through ten years | 2,098 | 8 | 37 | 2,069 | |||||||||||||||||||||
4,669 | 15 | 72 | 4,612 | ||||||||||||||||||||||
Certificates of deposit: | |||||||||||||||||||||||||
Due within one year | 245 | 1 | - | 246 | |||||||||||||||||||||
Due after one through five years | 5,036 | 16 | 1 | 5,051 | |||||||||||||||||||||
5,281 | 17 | 1 | 5,297 | ||||||||||||||||||||||
$ | 80,912 | $ | 413 | $ | 2.958 | $ | 78,367 | ||||||||||||||||||
All mortgage-backed securities at March 31, 2014 and June 30, 2013 have been issued by FNMA, FHLMC or GNMA and are secured by one-to-four family residential real estate. The amortized cost and fair value of securities held to maturity at March 31, 2014 and June 30, 2013, as shown above, are reported by contractual maturity. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
There were no sales of securities held to maturity during the three or nine months ended March 31, 2014. At March 31, 2014 and June 30, 2013, securities held to maturity with a fair value of approximately $771,000 and $782,000, respectively, were pledged to secure public funds on deposit. | |||||||||||||||||||||||||
The following tables set forth the gross unrealized losses and fair value of securities in an unrealized loss position as of March 31, 2014 and June 30, 2013, and the length of time that such securities have been in a continuous unrealized loss position: | |||||||||||||||||||||||||
Less than 12 Months | More than 12 Months | Total | |||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 35,646 | $ | 2,033 | $ | 6,210 | 290 | $ | 41,856 | $ | 2,323 | ||||||||||||||
Mortgage-backed securities | 16,790 | 673 | 840 | 19 | 17,630 | 692 | |||||||||||||||||||
Corporate bonds | 2,527 | 13 | — | — | 2,527 | 13 | |||||||||||||||||||
Certificates of deposit | 487 | 3 | — | — | 487 | 3 | |||||||||||||||||||
$ | 55,450 | $ | 2,722 | $ | 7,050 | $ | 309 | $ | 62,500 | $ | 3,031 | ||||||||||||||
Less than 12 Months | More than 12 Months | Total | |||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
30-Jun-13 | |||||||||||||||||||||||||
U.S. Government agencies | $ | 42,048 | $ | 2,131 | $ | — | $ | — | $ | 42,048 | $ | 2,131 | |||||||||||||
Mortgage-backed securities | 18,401 | 754 | — | — | 18,401 | 754 | |||||||||||||||||||
Corporate bonds | 2,980 | 72 | — | — | 2,980 | 72 | |||||||||||||||||||
Certificates of deposit | 246 | 1 | — | — | 246 | 1 | |||||||||||||||||||
$ | 63,675 | $ | 2,958 | $ | — | $ | — | $ | 63,675 | $ | 2,958 | ||||||||||||||
At March 31, 2014, management concluded that the unrealized losses summarized above (which related to thirty one U.S. Government agency bonds, fourteen mortgage-backed securities, four corporate bonds and two certificates of deposit compared to thirty-one U.S. Government agency bonds, fourteen mortgage-backed securities, five corporate bonds and one certificate of deposit as of June 30, 2013) are temporary in nature since they are not related to the underlying credit quality of the issuer. The Company does not intend to sell these securities and it is not more-likely-than-not that the Company would be required to sell these securities prior to the anticipated recovery of the remaining amortized cost. Management believes that the losses above are primarily related to the change in market interest rates. Accordingly, the Company has not recognized an other-than-temporary impairment loss on these securities. |
Note_9_Retirement_Plans
Note 9 - Retirement Plans | 9 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||||||||||
Note 9 – Retirement Plans | |||||||||||||||||
Periodic expenses for the Company’s retirement plans, which include the Directors’ Retirement Plan and the Executive Incentive Retirement Plan, were as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
March 31, | March 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||
Service cost | $ | 15 | $ | 17 | $ | 45 | $ | 49 | |||||||||
Interest cost | 23 | 18 | 67 | 56 | |||||||||||||
Amortization of unrecognized (gain) loss | (3 | ) | 5 | (8 | ) | 14 | |||||||||||
Amortization of past service liability | 1 | 3 | 3 | 8 | |||||||||||||
$ | 36 | $ | 43 | $ | 107 | $ | 127 | ||||||||||
The Company previously disclosed in its Annual Report on Form 10-K as of June 30, 2013 that it expected to contribute $92,000 to the Plan during the current fiscal year. As of March 31, 2014, the Company contributed $69,000. |
Note_10_Stock_Offering_and_Sto
Note 10 - Stock Offering and Stock Repurchase Program | 9 Months Ended |
Mar. 31, 2014 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
Note 10 – Stock Offering and Stock Repurchase Program | |
During the nine months ended March 31, 2014 the Company did not repurchase any shares of its common stock. |
Note_11_Recent_Accounting_Pron
Note 11 - Recent Accounting Pronouncements | 9 Months Ended |
Mar. 31, 2014 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Accounting Changes and Error Corrections [Text Block] | ' |
Note 11 – Recent Accounting Pronouncements | |
In February 2013, FASB issued Accounting Standards Update (“ASU”) 2013-02, Other Comprehensive Income – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which amends FASB ASC Top 220, Comprehensive Income (Topic 220). The amendments in this update supersede and replace the presentation requirements for reclassifications out of accumulated other comprehensive income in ASUs 2011-05 and 2011-12 for all public and private organizations. The amendments require an entity to provide additional information about reclassifications out of accumulated other comprehensive income. The new requirement about presenting information about amounts reclassified out of accumulated other comprehensive income and their corresponding effect on net income present, in one place, information about significant amounts reclassified and, in some cases, cross-references to related footnote disclosures. Previously, this information was presented in different places throughout the financial statements. For public entities, the amendments of this update were effective prospectively for annual reporting periods beginning after December 15, 2012 and interim periods within those years. The adoption of ASU 2011-05 as of July 1, 2013, did not have a significant impact on the Company’s presentation of the comprehensive income. | |
In July 2013, FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss (NOL) carryforward, a similar tax loss, or a tax credit carryforward exists. The FASB’s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. This ASU applies to all entities with unrecognized tax benefits that also have tax loss or tax credit carryforwards in the same tax jurisdiction as of the reporting date. For public entities, the guidance is effective for the fiscal years beginning after December 15, 2013 and interim periods within those years. The adoption of this guidance did not have a material impact on our consolidated financial statements. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. | |
In January 2014, FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors, which clarifies that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. For public entities, the guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. |
Note_12_Reclassifications_Out_
Note 12 - Reclassifications Out of Accumulated Other Comprehensive Income | 9 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||
Reclassifications [Text Block] | ' | ||||||||||
Note 12 – Reclassifications Out of Accumulated Other Comprehensive Income | |||||||||||
Details about Accumulated | Amount Reclassified | Amount Reclassified | Affected Line Item | ||||||||
Other Comprehensive | from Accumulated | from Accumulated | in the Consolidated | ||||||||
Income (Loss) Components | Other Comprehensive | Other Comprehensive | Statements of Comprehensive | ||||||||
Income (Loss) (a) | Income (Loss) (a) | Income (Loss) | |||||||||
Three Months Ended | Nine Months Ended | ||||||||||
31-Mar-14 | 31-Mar-14 | ||||||||||
(In thousands) | |||||||||||
Amortization of defined benefit pension items: | |||||||||||
Prior service costs | $ | (1 | ) | (b) | $ | (3 | ) | Directors compensation | |||
Unrecognized loss | (4 | ) | (b) | (13 | ) | Directors compensation | |||||
Unrecognized gain | 7 | (b) | 21 | Salary and employee benefits | |||||||
2 | 5 | Total before tax | |||||||||
(1 | ) | (2 | ) | Income tax (expense) | |||||||
Total reclassifications for the period | $ | 1 | $ | 3 | Net of tax | ||||||
(a) | Amounts in parenthesis indicate debits to profit/loss. | ||||||||||
(b) | These accumulated other comprehensive components are included in the computation of net periodic pension cost. (See Note 9 for additional details). | ||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Subsequent Events, Policy [Policy Text Block] | ' |
In accordance with Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (the “ASC”) Topic 855, Subsequent Events, management has evaluated potential subsequent events through the date the consolidated financial statements were issued. |
Note_6_Fair_Value_Measurements1
Note 6 - Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | ||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 3,287 | $ | 3,287 | |||||||||||||
30-Jun-13 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 15,066 | $ | 15,066 | |||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | ' | ||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range (Weighted Average) | ||||||||||||||||||
Estimate | Techniques | Input | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Impaired loans | $ | 3,287 | Appraisal ofcollateral | Appraisaladjustments Liquidation expense | |||||||||||||||||
0% | to | -25.00% | -18.90% | ||||||||||||||||||
4.50% | to | -17.20% | -7.10% | ||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range (Weighted Average) | ||||||||||||||||||
Estimate | Techniques | Input | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Impaired loans | $ | 15,066 | Appraisal of collateral | Appraisal adjustments Liquidation expense | |||||||||||||||||
0% | to | -37.90% | -3.50% | ||||||||||||||||||
0.11% | to | -27.40% | -7.90% | ||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | |||||||||||||||||
As of March 31, 2014 | Amount | Value | Inputs | Inputs | Inputs | ||||||||||||||||
(In thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | $ | 85,247 | $ | 82,696 | $ | - | $ | 82,696 | $ | - | |||||||||||
Loans receivable (1) | 231,063 | 230,372 | - | - | 230,372 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Certificate of deposits | 98,106 | 99,755 | - | 99,755 | - | ||||||||||||||||
Advances from Federal Home Loan Bank of New York | 30,000 | 31,113 | - | 31,113 | - | ||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | 80,912 | 78,367 | - | 78,367 | - | ||||||||||||||||
Loans receivable (1) | 223,256 | 227,556 | - | 227,556 | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Certificate of deposits | 109,948 | 111,797 | - | 111,797 | - | ||||||||||||||||
Advances from Federal Home Loan Bank of New York | 30,000 | 32,208 | - | 32,208 | - | ||||||||||||||||
(1) Includes impaired loans measured at fair value on a non-recurring basis as discussed above. |
Note_7_Loans_Receivable_and_Al1
Note 7 - Loans Receivable and Allowance for Credit Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Note 7 - Loans Receivable and Allowance for Credit Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
31-Mar-14 | 30-Jun-13 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 143,355 | $ | 136,704 | |||||||||||||||||||||||||||||
Home equity | 38,797 | 40,682 | |||||||||||||||||||||||||||||||
182,152 | 177,386 | ||||||||||||||||||||||||||||||||
Commercial real estate | 32,441 | 32,171 | |||||||||||||||||||||||||||||||
Construction | 11,559 | 8,895 | |||||||||||||||||||||||||||||||
Commercial and industrial | 10,523 | 9,267 | |||||||||||||||||||||||||||||||
54,523 | 50,333 | ||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Deposit accounts | 550 | 611 | |||||||||||||||||||||||||||||||
Automobile | 19 | 111 | |||||||||||||||||||||||||||||||
Personal | 35 | 32 | |||||||||||||||||||||||||||||||
Overdraft protection | 189 | 175 | |||||||||||||||||||||||||||||||
793 | 929 | ||||||||||||||||||||||||||||||||
237,468 | 228,648 | ||||||||||||||||||||||||||||||||
Loans in process | (2,297 | ) | (745 | ) | |||||||||||||||||||||||||||||
Deferred loan fees | (381 | ) | (377 | ) | |||||||||||||||||||||||||||||
$ | 234,790 | $ | 227,526 | ||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
31-Mar-14 | 30-Jun-13 | ||||||||||||||||||||||||||||||||
Unpaid | Unpaid | ||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Principal | Related | ||||||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Balance | Allowance | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 15,780 | $ | 16,532 | $ | - | $ | 13,817 | $ | 14,747 | $ | - | |||||||||||||||||||||
Home equity | 1,640 | 1,599 | - | 3,376 | 3,406 | - | |||||||||||||||||||||||||||
Commercial real estate | 1,137 | 1,193 | - | 1,796 | 1,867 | - | |||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 1,936 | - | - | |||||||||||||||||||||||||||||
Other | 750 | 750 | - | 1,601 | 1,510 | - | |||||||||||||||||||||||||||
Commercial and industrial | 504 | 688 | - | 750 | 1,103 | - | |||||||||||||||||||||||||||
21,518 | 22,698 | - | 21,340 | 22,633 | - | ||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 269 | 392 | 17 | 1,469 | 1,720 | 58 | |||||||||||||||||||||||||||
Home equity | 134 | 249 | 8 | 891 | 1,214 | 233 | |||||||||||||||||||||||||||
Commercial real estate | 557 | 957 | 14 | 1,444 | 1,804 | 88 | |||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | - | - | - | 1,707 | 1,936 | 23 | |||||||||||||||||||||||||||
Other | 137 | 138 | 32 | - | - | - | |||||||||||||||||||||||||||
Commercial and industrial | 329 | 502 | 78 | 150 | 100 | 31 | |||||||||||||||||||||||||||
1,426 | 2,238 | 149 | 5,661 | 6,774 | 433 | ||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 16,049 | 16,924 | 17 | 15,286 | 16,467 | 58 | |||||||||||||||||||||||||||
Home equity | 1,774 | 1,848 | 8 | 4,267 | 4,620 | 233 | |||||||||||||||||||||||||||
Commercial real estate | 1,694 | 2,150 | 14 | 3,240 | 3,671 | 88 | |||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 1,936 | - | 1,707 | 1,936 | 23 | |||||||||||||||||||||||||||
Other | 887 | 888 | 32 | 1,601 | 1,510 | - | |||||||||||||||||||||||||||
Commercial and industrial | 833 | 1,190 | 78 | 900 | 1,203 | 31 | |||||||||||||||||||||||||||
$ | 22,944 | $ | 24,936 | $ | 149 | $ | 27,001 | $ | 29,407 | $ | 433 | ||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
As of March 31, 2014 | Pass | Special Mention | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 28,982 | $ | 2,044 | $ | 1,338 | $ | - | $ | 2 | $ | 32,366 | |||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner occupied | 427 | - | 1,844 | - | - | 2,271 | |||||||||||||||||||||||||||
Other | 6,474 | 447 | - | - | 32 | 6,953 | |||||||||||||||||||||||||||
Commercial and Industrial | 9,435 | 107 | 886 | 68 | 10 | 10,506 | |||||||||||||||||||||||||||
Total | $ | 45,318 | $ | 2,598 | $ | 4,068 | $ | 68 | $ | 44 | $ | 52,096 | |||||||||||||||||||||
As of June 30, 2013 | Pass | Special Mention | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 27,025 | $ | 2,491 | $ | 2,515 | $ | - | $ | 72 | $ | 32,103 | |||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner occupied | 2,845 | - | 1,693 | - | 14 | 4,552 | |||||||||||||||||||||||||||
Other | 1,980 | 988 | - | 601 | - | 3,569 | |||||||||||||||||||||||||||
Commercial and Industrial | 8,188 | 113 | 923 | - | 22 | 9.246 | |||||||||||||||||||||||||||
Total | $ | 40,038 | $ | 3,592 | $ | 5,131 | $ | 601 | $ | 108 | $ | 49,470 | |||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
As of March 31, 2014 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days | Total | Current | Total Loans | Nonaccrual | Loans Receivable > | |||||||||||||||||||||||||
Past Due | Receivables | Loans | 90 Days and | ||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 2,859 | 860 | 2,569 | 6,288 | $ | 136,893 | $ | 143,181 | $ | 4,317 | $ | 868 | ||||||||||||||||||||
Home equity | 37 | 553 | 1,097 | 1,687 | 37,033 | 38,720 | 1,418 | 177 | |||||||||||||||||||||||||
Commercial real estate | - | - | 966 | 966 | 31,400 | 32,366 | 1,103 | 427 | |||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner occupied | - | - | - | - | 2,271 | 2,271 | - | - | |||||||||||||||||||||||||
Other | - | - | - | - | 6,953 | 6,953 | - | - | |||||||||||||||||||||||||
Commercial and industrial | - | - | - | - | 10,506 | 10,506 | 820 | - | |||||||||||||||||||||||||
Consumer | 8 | - | 388 | 396 | 397 | 793 | - | - | |||||||||||||||||||||||||
Total | $ | 2,904 | $ | 1.413 | $ | 5,020 | $ | 9,337 | $ | 225,453 | $ | 234,790 | $ | 7,658 | $ | 1,472 | |||||||||||||||||
As of June 30, 2013 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days | Total | Current | Total Loans | Nonaccrual | Loans Receivable > | |||||||||||||||||||||||||
Past Due | Receivables | Loans | 90 Days and | ||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 3,910 | 1,525 | 5,822 | 11,257 | $ | 125,189 | $ | 136,446 | $ | 7,955 | $ | 501 | ||||||||||||||||||||
Home equity | 412 | 127 | 1,317 | 1,856 | 38,825 | 40,681 | 1,502 | 146 | |||||||||||||||||||||||||
Commercial real estate | 782 | - | 1,805 | 2,587 | 29,516 | 32,103 | 2,587 | - | |||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner occupied | - | - | - | - | 4,552 | 4,552 | - | - | |||||||||||||||||||||||||
Other | 1,000 | - | 601 | 1,601 | 1,968 | 3,569 | 601 | - | |||||||||||||||||||||||||
Commercial and industrial | 472 | 49 | 280 | 801 | 8,445 | 9,246 | - | - | |||||||||||||||||||||||||
Consumer | 5 | - | - | 5 | 924 | 929 | 802 | - | |||||||||||||||||||||||||
Total | $ | 6,581 | $ | 1,701 | $ | 9,825 | $ | 18,107 | $ | 209,419 | $ | 227,526 | $ | 13,447 | $ | 647 | |||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Commercial and | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Real Estate | Industrial | |||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 2,317 | $ | 714 | $ | 312 | $ | 373 | $ | 10 | $ | 1 | $ | 3,727 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 25 | $ | 14 | $ | 32 | $ | 78 | $ | - | $ | - | $ | 149 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,292 | $ | 700 | $ | 280 | $ | 295 | $ | 10 | $ | 1 | $ | 3,578 | |||||||||||||||||||
Loans receivables: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 181,901 | $ | 32,366 | $ | 9,224 | $ | 10,506 | $ | 793 | $ | - | $ | 234,790 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 17,823 | $ | 1,694 | $ | 2,594 | $ | 833 | $ | - | $ | - | $ | 22,944 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 164,078 | $ | 30,672 | $ | 6,630 | $ | 9,673 | $ | 793 | $ | - | $ | 211,846 | |||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Commercial and | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Real Estate | Industrial | |||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 3,036 | $ | 706 | $ | 238 | $ | 276 | $ | 11 | $ | 3 | $ | 4,270 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 291 | $ | 88 | $ | 23 | $ | 31 | $ | - | $ | - | $ | 433 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,745 | $ | 618 | $ | 215 | $ | 245 | $ | 11 | $ | 3 | $ | 3,837 | |||||||||||||||||||
Loans receivables: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 177,127 | $ | 32,103 | $ | 8,121 | $ | 9,246 | $ | 929 | $ | - | $ | 227,526 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 19,553 | $ | 3,240 | $ | 3,308 | $ | 900 | $ | - | $ | - | $ | 27,001 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 157,574 | $ | 28,863 | $ | 4,813 | $ | 8,346 | $ | 929 | $ | - | $ | 200,525 | |||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 1 | $ | 235 | $ | 255 | |||||||||||||||||||||||||||
Total | $ | 1 | $ | 235 | $ | 255 | |||||||||||||||||||||||||||
Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 2 | $ | 1,054 | $ | 1,071 | |||||||||||||||||||||||||||
Total | $ | 2 | $ | 1,054 | $ | 1,071 | |||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 2 | $ | 1,396 | $ | 1,400 | |||||||||||||||||||||||||||
Commercial real estate | 2 | 885 | 831 | ||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Other | 1 | 1,150 | 987 | ||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 68 | 68 | ||||||||||||||||||||||||||||||
Total | $ | 7 | $ | 3,499 | $ | 3,286 | |||||||||||||||||||||||||||
Nine Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 8 | $ | 3,116 | $ | 3,110 | |||||||||||||||||||||||||||
Commercial real estate | 2 | 885 | 831 | ||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Other | 1 | 1,150 | 987 | ||||||||||||||||||||||||||||||
Commercial and industrial | 4 | 214 | 214 | ||||||||||||||||||||||||||||||
Total | $ | 15 | $ | 5,365 | $ | 5,142 | |||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1 | $ | 49 | 23 | ||||||||||||||||||||||||||||
Total | $ | 1 | $ | 49 | $ | 23 | |||||||||||||||||||||||||||
Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1 | $ | 409 | $ | 409 | |||||||||||||||||||||||||||
Commercial and industrial | 1 | 49 | 23 | ||||||||||||||||||||||||||||||
Total | $ | 2 | $ | 458 | $ | 432 | |||||||||||||||||||||||||||
Additional Information [Member] | ' | ||||||||||||||||||||||||||||||||
Note 7 - Loans Receivable and Allowance for Credit Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 15,376 | $ | 163 | $ | 12,350 | $ | 139 | |||||||||||||||||||||||||
Home equity | 1,640 | 6 | 3,558 | 30 | |||||||||||||||||||||||||||||
Commercial real estate | 1,096 | 9 | 1,202 | 20 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 24 | - | - | |||||||||||||||||||||||||||||
Other | 750 | 8 | 494 | 9 | |||||||||||||||||||||||||||||
Commercial and industrial | 659 | 7 | 648 | 7 | |||||||||||||||||||||||||||||
21,228 | 217 | 18,252 | 205 | ||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 269 | - | 2,853 | 13 | |||||||||||||||||||||||||||||
Home equity | 134 | - | 904 | - | |||||||||||||||||||||||||||||
Commercial real estate | 559 | 10 | 1,902 | 8 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | - | - | 1,705 | 21 | |||||||||||||||||||||||||||||
Other | 137 | 1 | 644 | - | |||||||||||||||||||||||||||||
Commercial and industrial | 177 | 1 | 378 | 1 | |||||||||||||||||||||||||||||
Consumer | 2 | - | - | - | |||||||||||||||||||||||||||||
1,278 | 12 | 8,386 | 43 | ||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 15,645 | 163 | 15,203 | 152 | |||||||||||||||||||||||||||||
Home equity | 1,774 | 6 | 4,462 | 30 | |||||||||||||||||||||||||||||
Commercial real estate | 1,655 | 19 | 3,104 | 28 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 24 | 1,705 | 21 | |||||||||||||||||||||||||||||
Other | 887 | 9 | 1,138 | 9 | |||||||||||||||||||||||||||||
Commercial and industrial | 836 | 8 | 1,026 | 8 | |||||||||||||||||||||||||||||
Consumer | 2 | - | - | - | |||||||||||||||||||||||||||||
$ | 22,506 | $ | 229 | $ | 26,638 | $ | 248 | ||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-14 | 31-Mar-13 | ||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 14,733 | $ | 476 | $ | 11,519 | $ | 307 | |||||||||||||||||||||||||
Home equity | 2,089 | 34 | 3,404 | 99 | |||||||||||||||||||||||||||||
Commercial real estate | 1,261 | 29 | 1,729 | 48 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,280 | 72 | 484 | - | |||||||||||||||||||||||||||||
Other | 963 | 30 | 438 | 9 | |||||||||||||||||||||||||||||
Commercial and industrial | 762 | 25 | 483 | 17 | |||||||||||||||||||||||||||||
21,088 | 666 | 18,057 | 480 | ||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 790 | - | 3,657 | 48 | |||||||||||||||||||||||||||||
Home equity | 368 | - | 699 | 7 | |||||||||||||||||||||||||||||
Commercial real estate | 940 | 28 | 1,528 | 14 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 426 | - | 1,111 | 62 | |||||||||||||||||||||||||||||
Other | 103 | 2 | 807 | - | |||||||||||||||||||||||||||||
Commercial and Industrial | 92 | 2 | 524 | 3 | |||||||||||||||||||||||||||||
Consumer | - | - | - | - | |||||||||||||||||||||||||||||
2,719 | 32 | 8,326 | 134 | ||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 15,523 | 476 | 15,176 | 355 | |||||||||||||||||||||||||||||
Home equity | 2,457 | 34 | 4,103 | 106 | |||||||||||||||||||||||||||||
Commercial real estate | 2,201 | 57 | 3,257 | 62 | |||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,706 | 72 | 1,595 | 62 | |||||||||||||||||||||||||||||
Other | 1,066 | 32 | 1,245 | 9 | |||||||||||||||||||||||||||||
Commercial and Industrial | 854 | 27 | 1,007 | 20 | |||||||||||||||||||||||||||||
Consumer | - | - | - | - | |||||||||||||||||||||||||||||
$ | 23,807 | $ | 698 | $ | 26,383 | $ | 614 | ||||||||||||||||||||||||||
Additional Information [Member] | ' | ||||||||||||||||||||||||||||||||
Note 7 - Loans Receivable and Allowance for Credit Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | and | ||||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 2,366 | $ | 619 | $ | 286 | $ | 293 | $ | 12 | $ | 3 | $ | 3,579 | |||||||||||||||||||
Charge-offs | - | - | - | - | (2 | ) | - | (2 | ) | ||||||||||||||||||||||||
Recoveries | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Provisions | (49 | ) | 95 | 26 | 80 | - | (2 | ) | 150 | ||||||||||||||||||||||||
Ending balance | $ | 2,317 | $ | 714 | $ | 312 | $ | 373 | $ | 10 | $ | 1 | $ | 3,727 | |||||||||||||||||||
Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | and | ||||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 3,036 | $ | 706 | $ | 238 | $ | 276 | $ | 11 | $ | 3 | $ | 4,270 | |||||||||||||||||||
Charge-offs | (498 | ) | (340 | ) | (119 | ) | (54 | ) | (2 | ) | - | (1,013 | ) | ||||||||||||||||||||
Recoveries | 11 | - | - | 9 | - | - | 20 | ||||||||||||||||||||||||||
Provisions | (232 | ) | 348 | 193 | 142 | 1 | (2 | ) | 450 | ||||||||||||||||||||||||
Ending balance | $ | 2,317 | $ | 714 | $ | 312 | $ | 373 | $ | 10 | $ | 1 | $ | 3,727 | |||||||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | and | ||||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 3,148 | $ | 1,109 | $ | 469 | $ | 546 | $ | 48 | $ | - | $ | 5,320 | |||||||||||||||||||
Charge-offs | (457 | ) | (225 | ) | (85 | ) | (180 | ) | (5 | ) | - | (952 | ) | ||||||||||||||||||||
Recoveries | - | - | - | - | - | - | - | ||||||||||||||||||||||||||
Provisions | 539 | (186 | ) | (83 | ) | (71 | ) | (34 | ) | 10 | 175 | ||||||||||||||||||||||
Ending balance | $ | 3,230 | $ | 698 | $ | 301 | $ | 295 | $ | 9 | $ | 10 | $ | 4,543 | |||||||||||||||||||
Nine Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | and | ||||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 1,808 | $ | 445 | $ | 527 | $ | 272 | $ | 13 | $ | - | $ | 3,065 | |||||||||||||||||||
Charge-offs | (1,483 | ) | (348 | ) | (333 | ) | (297 | ) | (4 | ) | - | (2,465 | ) | ||||||||||||||||||||
Recoveries | 49 | - | - | - | - | - | 49 | ||||||||||||||||||||||||||
Provisions | 2,856 | 601 | 107 | 320 | - | 10 | 3,894 | ||||||||||||||||||||||||||
Ending balance | $ | 3,230 | $ | 698 | $ | 301 | $ | 295 | $ | 9 | $ | 10 | $ | 4,543 |
Note_8_Securities_Held_to_Matu1
Note 8 - Securities Held to Maturity (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investment Holdings [Abstract] | ' | ||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
31-Mar-14 | (In Thousands) | ||||||||||||||||||||||||
U.S Government agencies: | |||||||||||||||||||||||||
Due after one year to five years | $ | 9,500 | $ | - | $ | 209 | $ | 9,291 | |||||||||||||||||
Due after five through ten years | 25,677 | 19 | 1,038 | 24,658 | |||||||||||||||||||||
Due after ten years | 14,000 | 57 | 1,076 | 12,981 | |||||||||||||||||||||
49,177 | 76 | 2,323 | 46,930 | ||||||||||||||||||||||
Mortgage-backed securities | 26,394 | 331 | 692 | 26,033 | |||||||||||||||||||||
Corporate bonds: | |||||||||||||||||||||||||
Due after one year to five years | 4,640 | 46 | 13 | 4,673 | |||||||||||||||||||||
Certificates of deposit: | |||||||||||||||||||||||||
Due after one year to five years | 5,036 | 27 | 3 | 5,060 | |||||||||||||||||||||
$ | 85,247 | $ | 480 | $ | 3,031 | $ | 82,696 | ||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
30-Jun-13 | (In Thousands) | ||||||||||||||||||||||||
U.S Government agencies: | |||||||||||||||||||||||||
Due after one year to five years | $ | 4,000 | $ | - | $ | 88 | $ | 3,912 | |||||||||||||||||
Due after five through ten years | 28,194 | - | 1,195 | 26,999 | |||||||||||||||||||||
Due thereafter | 14,000 | 84 | 848 | 13,236 | |||||||||||||||||||||
46,194 | 84 | 2,131 | 44,147 | ||||||||||||||||||||||
Mortgage-backed securities | 24,768 | 297 | 754 | 24,311 | |||||||||||||||||||||
Corporate bonds: | |||||||||||||||||||||||||
Due after one year to five years | 2,571 | 7 | 35 | 2,543 | |||||||||||||||||||||
Due after five through ten years | 2,098 | 8 | 37 | 2,069 | |||||||||||||||||||||
4,669 | 15 | 72 | 4,612 | ||||||||||||||||||||||
Certificates of deposit: | |||||||||||||||||||||||||
Due within one year | 245 | 1 | - | 246 | |||||||||||||||||||||
Due after one through five years | 5,036 | 16 | 1 | 5,051 | |||||||||||||||||||||
5,281 | 17 | 1 | 5,297 | ||||||||||||||||||||||
$ | 80,912 | $ | 413 | $ | 2.958 | $ | 78,367 | ||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
Less than 12 Months | More than 12 Months | Total | |||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 35,646 | $ | 2,033 | $ | 6,210 | 290 | $ | 41,856 | $ | 2,323 | ||||||||||||||
Mortgage-backed securities | 16,790 | 673 | 840 | 19 | 17,630 | 692 | |||||||||||||||||||
Corporate bonds | 2,527 | 13 | — | — | 2,527 | 13 | |||||||||||||||||||
Certificates of deposit | 487 | 3 | — | — | 487 | 3 | |||||||||||||||||||
$ | 55,450 | $ | 2,722 | $ | 7,050 | $ | 309 | $ | 62,500 | $ | 3,031 | ||||||||||||||
Less than 12 Months | More than 12 Months | Total | |||||||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
30-Jun-13 | |||||||||||||||||||||||||
U.S. Government agencies | $ | 42,048 | $ | 2,131 | $ | — | $ | — | $ | 42,048 | $ | 2,131 | |||||||||||||
Mortgage-backed securities | 18,401 | 754 | — | — | 18,401 | 754 | |||||||||||||||||||
Corporate bonds | 2,980 | 72 | — | — | 2,980 | 72 | |||||||||||||||||||
Certificates of deposit | 246 | 1 | — | — | 246 | 1 | |||||||||||||||||||
$ | 63,675 | $ | 2,958 | $ | — | $ | — | $ | 63,675 | $ | 2,958 |
Note_9_Retirement_Plans_Tables
Note 9 - Retirement Plans (Tables) | 9 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
March 31, | March 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||
Service cost | $ | 15 | $ | 17 | $ | 45 | $ | 49 | |||||||||
Interest cost | 23 | 18 | 67 | 56 | |||||||||||||
Amortization of unrecognized (gain) loss | (3 | ) | 5 | (8 | ) | 14 | |||||||||||
Amortization of past service liability | 1 | 3 | 3 | 8 | |||||||||||||
$ | 36 | $ | 43 | $ | 107 | $ | 127 |
Note_12_Reclassifications_Out_1
Note 12 - Reclassifications Out of Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||||
Details about Accumulated | Amount Reclassified | Amount Reclassified | Affected Line Item | ||||||||
Other Comprehensive | from Accumulated | from Accumulated | in the Consolidated | ||||||||
Income (Loss) Components | Other Comprehensive | Other Comprehensive | Statements of Comprehensive | ||||||||
Income (Loss) (a) | Income (Loss) (a) | Income (Loss) | |||||||||
Three Months Ended | Nine Months Ended | ||||||||||
31-Mar-14 | 31-Mar-14 | ||||||||||
(In thousands) | |||||||||||
Amortization of defined benefit pension items: | |||||||||||
Prior service costs | $ | (1 | ) | (b) | $ | (3 | ) | Directors compensation | |||
Unrecognized loss | (4 | ) | (b) | (13 | ) | Directors compensation | |||||
Unrecognized gain | 7 | (b) | 21 | Salary and employee benefits | |||||||
2 | 5 | Total before tax | |||||||||
(1 | ) | (2 | ) | Income tax (expense) | |||||||
Total reclassifications for the period | $ | 1 | $ | 3 | Net of tax |
Note_1_Organization_and_Busine1
Note 1 - Organization and Business (Details) | Mar. 31, 2013 |
Disclosure Text Block [Abstract] | ' |
Equity Method Investment, Ownership Percentage | 61.70% |
Note_4_Earnings_Loss_Per_Share1
Note 4 - Earnings (Loss) Per Share (Details) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 275,410 | 275,410 | 275,410 | 275,410 |
Note_5_Stock_Based_Compensatio1
Note 5 - Stock Based Compensation (Details) (2008 Stock Compensation and Incentive Plan [Member], USD $) | Nov. 09, 2009 | Nov. 09, 2009 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Nov. 09, 2009 | 9-May-08 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 10, 2008 |
Previously Authorized Number Of Shares [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | ||||||||
Note 5 - Stock Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 275,410 | ' | ' | ' | ' | ' | ' | 385,574 | ' | ' | ' | ' | ' | 275,410 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 275,410 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $10.75 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $2.99 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | '5 years | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | ' | ' | $45,000 | $135,000 | $45,000 | $135,000 | ' | ' | ' | $0 | $41,000 | $0 | $123,000 | ' |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | ' | ' | 18,000 | 54,000 | 18,000 | ' | 54,000 | ' | ' | ' | 16,000 | ' | 49,000 | ' |
Treasury Stock, Shares, Acquired (in Shares) | ' | ' | ' | ' | ' | ' | ' | 110,164 | ' | ' | ' | ' | ' | ' |
Treasury Stock, Value, Acquired, Cost Method | ' | ' | ' | ' | ' | ' | ' | 932,000 | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | ' | ' | $126,000 | ' | $126,000 | ' | $126,000 | ' | ' | ' | ' | ' | ' | ' |
Note_6_Fair_Value_Measurements2
Note 6 - Fair Value Measurements (Details) (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
Fair Value Disclosures [Abstract] | ' | ' |
Assets, Fair Value Disclosure, Recurring | $0 | $0 |
Note_6_Fair_Value_Measurements3
Note 6 - Fair Value Measurements (Details) - Fair Value Assets Measured on Nonrecurring Basis (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Note 6 - Fair Value Measurements (Details) - Fair Value Assets Measured on Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $3,287 | $15,066 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 6 - Fair Value Measurements (Details) - Fair Value Assets Measured on Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $3,287 | $15,066 |
Note_6_Fair_Value_Measurements4
Note 6 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Jun. 30, 2013 |
Appraisal Adjustments [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring (in Dollars) | $3,287 | $15,066 |
Fair Value Measurements, Valuation Techniques | 'Appraisal ofcollateral | 'Appraisal of collateral |
Appraisal Adjustments [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Disclosure, Unbservable Input Range | 0.00% | 0.00% |
Appraisal Adjustments [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Disclosure, Unbservable Input Range | -25.00% | -37.90% |
Appraisal Adjustments [Member] | Weighted Average [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Disclosure, Unbservable Input Range | -18.90% | -3.50% |
Liquidation Expenses [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Disclosure, Unbservable Input Range | 4.50% | 0.11% |
Liquidation Expenses [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Disclosure, Unbservable Input Range | -17.20% | -27.40% |
Liquidation Expenses [Member] | Weighted Average [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Disclosure, Unbservable Input Range | -7.10% | -7.90% |
Note_6_Fair_Value_Measurements5
Note 6 - Fair Value Measurements (Details) - Fair Value, Assets and Liabilities (USD $) | Mar. 31, 2014 | Jun. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ||
Securities held to maturity | $82,696 | $78,367 | ||
Carrying Amount [Member] | ' | ' | ||
Financial assets: | ' | ' | ||
Securities held to maturity | 85,247 | 80,912 | ||
Loans receivable | 231,063 | [1] | 223,256 | [1] |
Financial liabilities: | ' | ' | ||
Certificate of deposits | 98,106 | 109,948 | ||
Advances from Federal Home Loan Bank of New York | 30,000 | 30,000 | ||
Estimate of Fair Value Measurement [Member] | ' | ' | ||
Financial assets: | ' | ' | ||
Securities held to maturity | 82,696 | 78,367 | ||
Loans receivable | 230,372 | [1] | 227,556 | [1] |
Financial liabilities: | ' | ' | ||
Certificate of deposits | 99,755 | 111,797 | ||
Advances from Federal Home Loan Bank of New York | 31,113 | 32,208 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Financial assets: | ' | ' | ||
Loans receivable | ' | [1] | ' | [1] |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Financial assets: | ' | ' | ||
Securities held to maturity | 82,696 | 78,367 | ||
Loans receivable | ' | [1] | ' | |
Financial liabilities: | ' | ' | ||
Certificate of deposits | 99,755 | 111,797 | ||
Advances from Federal Home Loan Bank of New York | 31,113 | 32,208 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Financial assets: | ' | ' | ||
Loans receivable | $230,372 | [1] | $227,556 | [1] |
[1] | Includes impaired loans measured at fair value on a non-recurring basis as discussed above. |
Note_7_Loans_Receivable_and_Al2
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Jun. 30, 2013 | |
Receivables [Abstract] | ' | ' | ' | ' | ' |
Minimum Threshold For Impairment Evaluation | $200,000 | ' | $200,000 | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 16,600,000 | ' | 16,600,000 | ' | 18,100,000 |
Financing Receivable, Modifications, Accrual Status, Recorded Investment | 13,600,000 | ' | 13,600,000 | ' | 11,800,000 |
Financing Receivable, Modifications, Nonaccrual Status, Recorded Investment | 3,000,000 | ' | 3,000,000 | ' | 6,200,000 |
Financing Receivable, Allowance For Credit Losses, Troubled Debt Restructuring | $41,000 | ' | $41,000 | ' | $152,000 |
Financing Receivable, Modifications, Number of Contracts | 1 | 7 | 2 | 15 | ' |
Troubled Debt Restructuring, Interest Rate Only Period, Subsequent Decrease | 0.50% | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 0 | 2 | 0 | ' |
Note_7_Loans_Receivable_and_Al3
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) - Composition of Total Loans Receivable (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | $237,468 | $228,648 |
Loans in process | -2,297 | -745 |
Deferred loan fees | -381 | -377 |
234,790 | 227,526 | |
Residential Mortgage: One-to-Four Family [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 143,355 | 136,704 |
143,181 | 136,446 | |
Residential Mortgage: Home Equity [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 38,797 | 40,682 |
38,720 | 40,681 | |
Total Residential Mortgage Portfolio Segment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 182,152 | 177,386 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 32,441 | 32,171 |
Construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 11,559 | 8,895 |
9,224 | 8,121 | |
Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 10,523 | 9,267 |
10,506 | 9,246 | |
Commercial Real Estate Segment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 54,523 | 50,333 |
32,366 | 32,103 | |
Consumer: Deposit Accounts [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 550 | 611 |
Consumer: Automobile [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 19 | 111 |
Consumer: Personal Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 35 | 32 |
Consumer: Overdraft Protection [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 189 | 175 |
Total Consumer Portfolio Segment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 793 | 929 |
$793 | $929 |
Note_7_Loans_Receivable_and_Al4
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) - Impaired Loans by Class (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Residential mortgage | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $21,518 | $21,340 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 22,698 | 22,633 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,426 | 5,661 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,238 | 6,774 |
Impaired Financing Receivable, Related Allowance | 149 | 433 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, Recorded Investment, Total | 22,944 | 27,001 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 24,936 | 29,407 |
Impaired Financing Receivable, Related Allowance | 149 | 433 |
Residential Mortgage: One-to-Four Family [Member] | ' | ' |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 15,780 | 13,817 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 16,532 | 14,747 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 269 | 1,469 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 392 | 1,720 |
Impaired Financing Receivable, Related Allowance | 17 | 58 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, Recorded Investment, Total | 16,049 | 15,286 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 16,924 | 16,467 |
Impaired Financing Receivable, Related Allowance | 17 | 58 |
Residential Mortgage: Home Equity [Member] | ' | ' |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,640 | 3,376 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,599 | 3,406 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 134 | 891 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 249 | 1,214 |
Impaired Financing Receivable, Related Allowance | 8 | 233 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, Recorded Investment, Total | 1,774 | 4,267 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 1,848 | 4,620 |
Impaired Financing Receivable, Related Allowance | 8 | 233 |
Commercial Real Estate Segment [Member] | ' | ' |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,137 | 1,796 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,193 | 1,867 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 557 | 1,444 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 957 | 1,804 |
Impaired Financing Receivable, Related Allowance | 14 | 88 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, Recorded Investment, Total | 1,694 | 3,240 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 2,150 | 3,671 |
Impaired Financing Receivable, Related Allowance | 14 | 88 |
Construction: One-to-Four Family Occupied [Member] | ' | ' |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,707 | ' |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,936 | ' |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | ' | 1,707 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | ' | 1,936 |
Impaired Financing Receivable, Related Allowance | ' | 23 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, Recorded Investment, Total | 1,707 | 1,707 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 1,936 | 1,936 |
Impaired Financing Receivable, Related Allowance | ' | 23 |
Construction: Other [Member] | ' | ' |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 750 | 1,601 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 750 | 1,510 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 137 | ' |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 138 | ' |
Impaired Financing Receivable, Related Allowance | 32 | ' |
Residential mortgage | ' | ' |
Impaired Financing Receivable, Recorded Investment, Total | 887 | 1,601 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 888 | 1,510 |
Impaired Financing Receivable, Related Allowance | 32 | ' |
Commercial and Industrial [Member] | ' | ' |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 504 | 750 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 688 | 1,103 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 329 | 150 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 502 | 100 |
Impaired Financing Receivable, Related Allowance | 78 | 31 |
Residential mortgage | ' | ' |
Impaired Financing Receivable, Recorded Investment, Total | 833 | 900 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 1,190 | 1,203 |
Impaired Financing Receivable, Related Allowance | $78 | $31 |
Note_7_Loans_Receivable_and_Al5
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) - Impaired Loans Interest Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Residential | ' | ' | ' | ' |
Average Recorded Investment | $21,228 | $18,252 | $21,088 | $18,057 |
Interest Income Recognized | 217 | 205 | 666 | 480 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 1,278 | 8,386 | 2,719 | 8,326 |
Interest Income Recognized | 12 | 43 | 32 | 134 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 22,506 | 26,638 | 23,807 | 26,383 |
Interest Income Recognized | 229 | 248 | 698 | 614 |
Residential Mortgage: One-to-Four Family [Member] | ' | ' | ' | ' |
Residential | ' | ' | ' | ' |
Average Recorded Investment | 15,376 | 12,350 | 14,733 | 11,519 |
Interest Income Recognized | 163 | 139 | 476 | 307 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 269 | 2,853 | 790 | 3,657 |
Interest Income Recognized | ' | 13 | ' | 48 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 15,645 | 15,203 | 15,523 | 15,176 |
Interest Income Recognized | 163 | 152 | 476 | 355 |
Residential Mortgage: Home Equity [Member] | ' | ' | ' | ' |
Residential | ' | ' | ' | ' |
Average Recorded Investment | 1,640 | 3,558 | 2,089 | 3,404 |
Interest Income Recognized | 6 | 30 | 34 | 99 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 134 | 904 | 368 | 699 |
Interest Income Recognized | ' | ' | ' | 7 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 1,774 | 4,462 | 2,457 | 4,103 |
Interest Income Recognized | 6 | 30 | 34 | 106 |
Commercial Real Estate Segment [Member] | ' | ' | ' | ' |
Residential | ' | ' | ' | ' |
Average Recorded Investment | 1,096 | 1,202 | 1,261 | 1,729 |
Interest Income Recognized | 9 | 20 | 29 | 48 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 559 | 1,902 | 940 | 1,528 |
Interest Income Recognized | 10 | 8 | 28 | 14 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 1,655 | 3,104 | 2,201 | 3,257 |
Interest Income Recognized | 19 | 28 | 57 | 62 |
Construction: One-to-Four Family Occupied [Member] | ' | ' | ' | ' |
Residential | ' | ' | ' | ' |
Average Recorded Investment | 1,707 | ' | 1,280 | 484 |
Interest Income Recognized | 24 | ' | 72 | ' |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | ' | 1,705 | 426 | 1,111 |
Interest Income Recognized | ' | 21 | ' | 62 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 1,707 | 1,705 | 1,706 | 1,595 |
Interest Income Recognized | 24 | 21 | 72 | 62 |
Construction: Other [Member] | ' | ' | ' | ' |
Residential | ' | ' | ' | ' |
Average Recorded Investment | 750 | 494 | 963 | 438 |
Interest Income Recognized | 8 | 9 | 30 | 9 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 137 | 644 | 103 | 807 |
Interest Income Recognized | 1 | ' | 2 | ' |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 887 | 1,138 | 1,066 | 1,245 |
Interest Income Recognized | 9 | 9 | 32 | 9 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Residential | ' | ' | ' | ' |
Average Recorded Investment | 659 | 648 | 762 | 483 |
Interest Income Recognized | 7 | 7 | 25 | 17 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 177 | 378 | 92 | 524 |
Interest Income Recognized | 1 | 1 | 2 | 3 |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 836 | 1,026 | 854 | 1,007 |
Interest Income Recognized | 8 | 8 | 27 | 20 |
Consumer [Member] | ' | ' | ' | ' |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | 2 | ' | ' | ' |
Residential mortgage | ' | ' | ' | ' |
Average Recorded Investment | $2 | ' | ' | ' |
Note_7_Loans_Receivable_and_Al6
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) - Financing Receivable Credit Quality Indicators (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | $52,096,000 | $49,470,000 |
Commercial Real Estate Segment [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 28,982,000 | 27,025,000 |
Commercial Real Estate Segment [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 2,044,000 | 2,491,000 |
Commercial Real Estate Segment [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 1,338,000 | 2,515,000 |
Commercial Real Estate Segment [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 2,000 | 72,000 |
Commercial Real Estate Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 32,366,000 | 32,103,000 |
Construction: One-to-Four Family Occupied [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 427,000 | 2,845,000 |
Construction: One-to-Four Family Occupied [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 1,844,000 | 1,693,000 |
Construction: One-to-Four Family Occupied [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | ' | 14,000 |
Construction: One-to-Four Family Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 2,271,000 | 4,552,000 |
Construction: Other [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 6,474,000 | 1,980,000 |
Construction: Other [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 447,000 | 988,000 |
Construction: Other [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | ' | 601,000 |
Construction: Other [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 32,000 | ' |
Construction: Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 6,953,000 | 3,569,000 |
Commercial and Industrial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 9,435,000 | 8,188,000 |
Commercial and Industrial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 107,000 | 113,000 |
Commercial and Industrial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 886,000 | 923,000 |
Commercial and Industrial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 68,000 | ' |
Commercial and Industrial [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 10,000 | 22,000 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 10,506,000 | 9,246 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 45,318,000 | 40,038,000 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 2,598,000 | 3,592,000 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 4,068,000 | 5,131,000 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 68,000 | 601,000 |
Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | $44,000 | $108,000 |
Note_7_Loans_Receivable_and_Al7
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) - Past Due Financing Recievables (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $2,904,000 | $6,581,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,413 | 1,701,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 5,020,000 | 9,825,000 |
Financing Receivable, Recorded Investment, Past Due | 9,337,000 | 18,107,000 |
Financing Receivable, Recorded Investment, Current | 225,453,000 | 209,419,000 |
Loans and Leases Receivable, Net | 234,790,000 | 227,526,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,658,000 | 13,447,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,472,000 | 647,000 |
Residential Mortgage: One-to-Four Family [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,859,000 | 3,910,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 860,000 | 1,525,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,569,000 | 5,822,000 |
Financing Receivable, Recorded Investment, Past Due | 6,288,000 | 11,257,000 |
Financing Receivable, Recorded Investment, Current | 136,893,000 | 125,189,000 |
Loans and Leases Receivable, Net | 143,181,000 | 136,446,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,317,000 | 7,955,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 868,000 | 501,000 |
Residential Mortgage: Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 37,000 | 412,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 553,000 | 127,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,097,000 | 1,317,000 |
Financing Receivable, Recorded Investment, Past Due | 1,687,000 | 1,856,000 |
Financing Receivable, Recorded Investment, Current | 37,033,000 | 38,825,000 |
Loans and Leases Receivable, Net | 38,720,000 | 40,681,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,418,000 | 1,502,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 177,000 | 146,000 |
Commercial Real Estate Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 782,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 966,000 | 1,805,000 |
Financing Receivable, Recorded Investment, Past Due | 966,000 | 2,587,000 |
Financing Receivable, Recorded Investment, Current | 31,400,000 | 29,516,000 |
Loans and Leases Receivable, Net | 32,366,000 | 32,103,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,103,000 | 2,587,000 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 427,000 | ' |
Construction: One-to-Four Family Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Current | 2,271,000 | 4,552,000 |
Loans and Leases Receivable, Net | 2,271,000 | 4,552,000 |
Construction: Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 1,000,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 601,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 1,601,000 |
Financing Receivable, Recorded Investment, Current | 6,953,000 | 1,968,000 |
Loans and Leases Receivable, Net | 6,953,000 | 3,569,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 601,000 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 472,000 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 49,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 280,000 |
Financing Receivable, Recorded Investment, Past Due | ' | 801,000 |
Financing Receivable, Recorded Investment, Current | 10,506,000 | 8,445,000 |
Loans and Leases Receivable, Net | 10,506,000 | 9,246,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 820,000 | ' |
Total Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 8,000 | 5,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 388,000 | ' |
Financing Receivable, Recorded Investment, Past Due | 396,000 | 5,000 |
Financing Receivable, Recorded Investment, Current | 397,000 | 924,000 |
Loans and Leases Receivable, Net | 793,000 | 929,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | $802,000 |
Note_7_Loans_Receivable_and_Al8
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) - Allowance for Loan Losses (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | ||||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Ending balance | $3,727 | $3,579 | $4,270 | $4,543 | $5,320 | $3,065 |
Ending balance: individually evaluated for impairment | 149 | ' | 433 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 3,578 | ' | 3,837 | ' | ' | ' |
Loans receivables: | ' | ' | ' | ' | ' | ' |
Ending balance | 234,790 | ' | 227,526 | ' | ' | ' |
Ending balance: individually evaluated for impairment | 22,944 | ' | 27,001 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 211,846 | ' | 200,525 | ' | ' | ' |
Residential Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Ending balance | 2,317 | 2,366 | 3,036 | 3,230 | 3,148 | 1,808 |
Ending balance: individually evaluated for impairment | 25 | ' | 291 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 2,292 | ' | 2,745 | ' | ' | ' |
Loans receivables: | ' | ' | ' | ' | ' | ' |
Ending balance | 181,901 | ' | 177,127 | ' | ' | ' |
Ending balance: individually evaluated for impairment | 17,823 | ' | 19,553 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 164,078 | ' | 157,574 | ' | ' | ' |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Ending balance | 714 | 619 | 706 | 698 | 1,109 | 445 |
Ending balance: individually evaluated for impairment | 14 | ' | 88 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 700 | ' | 618 | ' | ' | ' |
Loans receivables: | ' | ' | ' | ' | ' | ' |
Ending balance | 32,366 | ' | 32,103 | ' | ' | ' |
Ending balance: individually evaluated for impairment | 1,694 | ' | 3,240 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 30,672 | ' | 28,863 | ' | ' | ' |
Construction [Member] | ' | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Ending balance | 312 | 286 | 238 | 301 | 469 | 527 |
Ending balance: individually evaluated for impairment | 32 | ' | 23 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 280 | ' | 215 | ' | ' | ' |
Loans receivables: | ' | ' | ' | ' | ' | ' |
Ending balance | 9,224 | ' | 8,121 | ' | ' | ' |
Ending balance: individually evaluated for impairment | 2,594 | ' | 3,308 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 6,630 | ' | 4,813 | ' | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Ending balance | 373 | 293 | 276 | 295 | 546 | 272 |
Ending balance: individually evaluated for impairment | 78 | ' | 31 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 295 | ' | 245 | ' | ' | ' |
Loans receivables: | ' | ' | ' | ' | ' | ' |
Ending balance | 10,506 | ' | 9,246 | ' | ' | ' |
Ending balance: individually evaluated for impairment | 833 | ' | 900 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 9,673 | ' | 8,346 | ' | ' | ' |
Consumer Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Ending balance | 10 | ' | 11 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 10 | ' | 11 | ' | ' | ' |
Loans receivables: | ' | ' | ' | ' | ' | ' |
Ending balance | 793 | ' | 929 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 793 | ' | 929 | ' | ' | ' |
Unallocated Financing Receivables [Member] | ' | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Ending balance | 1 | ' | 3 | ' | ' | ' |
Ending balance: collectively evaluated for impairment | $1 | ' | $3 | ' | ' | ' |
Note_7_Loans_Receivable_and_Al9
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) - Change in Allowance for Credit Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning Balance | $3,579 | $5,320 | $4,270 | $3,065 |
Ending balance | 3,727 | 4,543 | 3,727 | 4,543 |
Charge-offs | -2 | -952 | -1,013 | -2,465 |
Recoveries | ' | ' | 20 | 49 |
Provisions | 150 | 175 | 450 | 3,894 |
Residential Portfolio Segment [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning Balance | 2,366 | 3,148 | 3,036 | 1,808 |
Ending balance | 2,317 | 3,230 | 2,317 | 3,230 |
Charge-offs | ' | -457 | -498 | -1,483 |
Recoveries | ' | ' | 11 | 49 |
Provisions | -49 | 539 | -232 | 2,856 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning Balance | 619 | 1,109 | 706 | 445 |
Ending balance | 714 | 698 | 714 | 698 |
Charge-offs | ' | -225 | -340 | -348 |
Provisions | 95 | -186 | 348 | 601 |
Construction [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning Balance | 286 | 469 | 238 | 527 |
Ending balance | 312 | 301 | 312 | 301 |
Charge-offs | ' | -85 | -119 | -333 |
Provisions | 26 | -83 | 193 | 107 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning Balance | 293 | 546 | 276 | 272 |
Ending balance | 373 | 295 | 373 | 295 |
Charge-offs | ' | -180 | -54 | -297 |
Recoveries | ' | ' | 9 | ' |
Provisions | 80 | -71 | 142 | 320 |
Consumer [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning Balance | 12 | 48 | 11 | 13 |
Ending balance | 10 | 9 | 10 | 9 |
Charge-offs | -2 | -5 | -2 | -4 |
Provisions | ' | -34 | 1 | ' |
Unallocated [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning Balance | 3 | ' | 3 | ' |
Ending balance | 1 | 10 | 1 | 10 |
Provisions | ($2) | $10 | ($2) | $10 |
Recovered_Sheet1
Note 7 - Loans Receivable and Allowance for Credit Losses (Details) - Troubled Debt Restructurings on Financing Receivables (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Residential Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | 7 | 2 | 15 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | $3,499 | ' | $5,365 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 3,286 | ' | 5,142 |
Financing Receivable, Modifications, Number of Contracts, Subsequent Default | 1 | 0 | 2 | 0 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment, Subsequent Default | 49 | ' | 458 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment, Subsequent Default | 23 | ' | 432 | ' |
Residential Mortgage: One-to-Four Family [Member] | ' | ' | ' | ' |
Residential Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | 2 | 2 | 8 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 235 | 1,396 | 1,054 | 3,116 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 255 | 1,400 | 1,071 | 3,110 |
Residential [Member] | ' | ' | ' | ' |
Residential Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | ' | 2 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 235 | ' | 1,054 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 255 | ' | 1,071 | ' |
Commercial Real Estate Segment [Member] | ' | ' | ' | ' |
Residential Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | 2 | ' | 2 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | 885 | ' | 885 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 831 | ' | 831 |
Financing Receivable, Modifications, Number of Contracts, Subsequent Default | 1 | ' | 1 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment, Subsequent Default | 49 | ' | 409 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment, Subsequent Default | 23 | ' | 409 | ' |
Construction: Other [Member] | ' | ' | ' | ' |
Residential Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | 1 | ' | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | 1,150 | ' | 1,150 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 987 | ' | 987 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Residential Mortgage | ' | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | 2 | ' | 4 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | 68 | ' | 214 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 68 | ' | 214 |
Financing Receivable, Modifications, Number of Contracts, Subsequent Default | ' | ' | 1 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment, Subsequent Default | ' | ' | 49 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment, Subsequent Default | ' | ' | $23 | ' |
Note_8_Securities_Held_to_Matu2
Note 8 - Securities Held to Maturity (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2014 | Jun. 30, 2013 | |
Investment Holdings [Abstract] | ' | ' | ' |
Proceeds from Sale of Held-to-maturity Securities | $0 | $0 | ' |
Held-to-maturity Securities Pledged as Collateral | $771,000 | $771,000 | $782,000 |
Note_8_Securities_Held_to_Matu3
Note 8 - Securities Held to Maturity (Details) - Held-to-Maturity Securities by Contractual Maturity (USD $) | Mar. 31, 2014 | Jun. 30, 2013 |
U.S Government agencies: | ' | ' |
Held to maturity securities, amortized cost | $85,247,000 | $80,912,000 |
Held to maturity securities, gross unrealized gains | ' | 413,000 |
Held to maturity securities, gross unrealized losses | ' | 2,958 |
Held to maturity securities, fair value | 82,696,000 | 78,367,000 |
US Government Agencies [Member] | ' | ' |
U.S Government agencies: | ' | ' |
Due after one year through five years, amortized cost | 9,500,000 | 4,000,000 |
Due after one year through five years, gross unrealized losses | 209,000 | 88,000 |
Due after one year through five years, fair value | 9,291,000 | 3,912,000 |
Due after five through ten years, amortized cost | 25,677,000 | 28,194,000 |
Due after five through ten years, gross unrealized gains | 19,000 | ' |
Due after five through ten years, gross unrealized losses | 1,038,000 | 1,195,000 |
Due after five through ten years, fair value | 24,658,000 | 26,999,000 |
Due thereafter, Amortized Cost | 14,000,000 | 14,000,000 |
Due thereafter, gross unrealized gains | 57,000 | 84,000 |
Due thereafter, gross unrealized losses | 1,076,000 | 848,000 |
Due thereafter, fair value | 12,981,000 | 13,236,000 |
Held to maturity securities, amortized cost | 49,177,000 | 46,194,000 |
Held to maturity securities, gross unrealized gains | 76,000 | 84,000 |
Held to maturity securities, gross unrealized losses | 2,323,000 | 2,131,000 |
Held to maturity securities, fair value | 46,930,000 | 44,147,000 |
Mortgage-Backed Securities [Member] | ' | ' |
U.S Government agencies: | ' | ' |
Held to maturity securities without single maturity date, amortized cost | 26,394,000 | 24,768,000 |
Held to maturity securities without single maturity date, gross unrealized gains | 331,000 | 297,000 |
Held to maturity securities without single maturity date, gross unrealized losses | 692,000 | 754,000 |
Held to maturity securities without single maturity date, fair value | 26,033,000 | 24,311,000 |
Corporate Bonds [Member] | ' | ' |
U.S Government agencies: | ' | ' |
Due after one year through five years, amortized cost | 4,640,000 | 2,571,000 |
Due after one year through five years, gross unrealized gains | 46,000 | 7,000 |
Due after one year through five years, gross unrealized losses | 13,000 | 35,000 |
Due after one year through five years, fair value | 4,673,000 | 2,543,000 |
Due after five through ten years, amortized cost | ' | 2,098,000 |
Due after five through ten years, gross unrealized gains | ' | 8,000 |
Due after five through ten years, gross unrealized losses | ' | 37,000 |
Due after five through ten years, fair value | ' | 2,069,000 |
Held to maturity securities, amortized cost | ' | 4,669,000 |
Held to maturity securities, gross unrealized gains | ' | 15,000 |
Held to maturity securities, gross unrealized losses | ' | 72,000 |
Held to maturity securities, fair value | ' | 4,612,000 |
Certificates of Deposit [Member] | ' | ' |
U.S Government agencies: | ' | ' |
Due after one year through five years, amortized cost | 5,036,000 | 5,036,000 |
Due after one year through five years, gross unrealized gains | 27,000 | 16,000 |
Due after one year through five years, gross unrealized losses | 3,000 | 1,000 |
Due after one year through five years, fair value | 5,060,000 | 5,051,000 |
Held to maturity securities, amortized cost | 85,247,000 | 5,281,000 |
Held to maturity securities, gross unrealized gains | 480,000 | 17,000 |
Held to maturity securities, gross unrealized losses | 3,031,000 | 1,000 |
Held to maturity securities, fair value | 82,696,000 | 5,297,000 |
Due within one year | ' | 245,000 |
Due within one year | ' | 1,000 |
Due within one year | ' | $246,000 |
Note_8_Securities_Held_to_Matu4
Note 8 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Jun. 30, 2013 |
Note 8 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $55,450 | $63,675 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 2,722 | 2,958 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 7,050 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 309 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 62,500 | 63,675 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 3,031 | 2,958 |
US Government Agencies [Member] | ' | ' |
Note 8 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 35,646 | 42,048 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 2,033 | 2,131 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 6,210 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 290 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 41,856 | 42,048 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 2,323 | 2,131 |
Mortgage-Backed Securities [Member] | ' | ' |
Note 8 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 16,790 | 18,401 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 673 | 754 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 840 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 19 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 17,630 | 18,401 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 692 | 754 |
Corporate Bonds [Member] | ' | ' |
Note 8 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 2,527 | 2,980 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 13 | 72 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 2,527 | 2,980 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 13 | 72 |
Certificates of Deposit [Member] | ' | ' |
Note 8 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 487 | 246 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 3 | 1 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 487 | 246 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | $3 | $1 |
Note_9_Retirement_Plans_Detail
Note 9 - Retirement Plans (Details) (USD $) | 9 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Jun. 30, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | ' | $92,000 |
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year | $69,000 | ' |
Note_9_Retirement_Plans_Detail1
Note 9 - Retirement Plans (Details) - Net Periodic Pension Cost (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Net Periodic Pension Cost [Abstract] | ' | ' | ' | ' |
Service cost | $15 | $17 | $45 | $49 |
Interest cost | 23 | 18 | 67 | 56 |
Amortization of unrecognized (gain) loss | -3 | 5 | -8 | 14 |
Amortization of past service liability | 1 | 3 | 3 | 8 |
$36 | $43 | $107 | $127 |
Note_10_Stock_Offering_and_Sto1
Note 10 - Stock Offering and Stock Repurchase Program (Details) | 9 Months Ended |
Mar. 31, 2014 | |
Stockholders' Equity Note [Abstract] | ' |
Stock Repurchased During Period, Shares | 0 |
Note_12_Reclassifications_Out_2
Note 12 - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - Reclassifications Out of Accumulated Other Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2014 | ||
Amortization of defined benefit pension items: | ' | ' | ||
Prior service costs | ($1) | [1],[2] | ($3) | [1] |
Unrecognized loss | -4 | [1],[2] | -13 | [1] |
Unrecognized gain | 7 | [1],[2] | 21 | [1] |
2 | [1] | 5 | [1] | |
-1 | [1] | -2 | [1] | |
Total reclassifications for the period | $1 | [1] | $3 | [1] |
[1] | Amounts in parenthesis indicate debits to profit/loss. | |||
[2] | These accumulated other comprehensive components are included in the computation of net periodic pension cost. (See Note 9 for additional details). |