Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Sep. 16, 2014 | Dec. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'MSB FINANCIAL CORP. | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--06-30 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 5,010,437 | ' |
Entity Public Float | ' | ' | $15,300,000 |
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 | 30-Jun-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Cash and due from banks | $6,432 | $19,941 |
Interest-earning demand deposits with banks | 876 | 4,814 |
Cash and Cash Equivalents | 7,308 | 24,755 |
Securities held to maturity (fair value of $83,636 and $78,367, respectively) | 84,932 | 80,912 |
Loans receivable, net of allowance for loan losses of $3,686 and $4,270, respectively | 230,275 | 223,256 |
Other real estate owned | 409 | 530 |
Premises and equipment | 8,486 | 8,882 |
Federal Home Loan Bank of New York stock, at cost | 2,190 | 1,827 |
Bank owned life insurance | 7,136 | 6,919 |
Accrued interest receivable | 1,318 | 1,229 |
Other assets | 3,192 | 4,282 |
Total Assets | 345,246 | 352,592 |
Deposits: | ' | ' |
Non-interest bearing | 22,206 | 18,559 |
Interest bearing | 241,183 | 261,908 |
Total Deposits | 263,389 | 280,467 |
Advances from Federal Home Loan Bank of New York | 38,000 | 30,000 |
Advance payments by borrowers for taxes and insurance | 494 | 132 |
Other liabilities | 2,553 | 2,480 |
Total Liabilities | 304,436 | 313,079 |
Commitments and Contingencies | ' | ' |
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 | 562 | 562 |
Paid-in capital | 24,616 | 24,473 |
Retained earnings | 21,670 | 20,682 |
Unallocated common stock held by ESOP (75,878 and 92,740 shares, respectively) | -759 | -927 |
Treasury stock, at cost, 610,188 and 610,188 shares, respectively | -5,244 | -5,244 |
Accumulated other comprehensive loss | -35 | -33 |
Total Stockholders’ Equity | 40,810 | 39,513 |
Total Liabilities and Stockholders’ Equity | $345,246 | $352,592 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Parentheticals) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Securities held to maturity, fair value (in Dollars) | $83,636 | $78,367 |
Loans receivable, allowance for loan losses (in Dollars) | $3,686 | $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 | 75,878 | 92,740 |
Treasury stock, shares | 610,188 | 610,188 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Interest Income | ' | ' |
Loans receivable, including fees | $10,033 | $10,435 |
Securities held to maturity | 1,870 | 1,504 |
Other | 89 | 93 |
Total Interest Income | 11,992 | 12,032 |
Interest Expense | ' | ' |
Deposits | 1,655 | 2,007 |
Borrowings | 767 | 714 |
Total Interest Expense | 2,422 | 2,721 |
Net Interest Income | 9,570 | 9,311 |
Provision for Loan Losses | 600 | 4,044 |
Net Interest Income after Provision for Loan Losses | 8,970 | 5,267 |
Non-Interest Income | ' | ' |
Fees and service charges | 407 | 329 |
Income from bank owned life insurance | 217 | 217 |
Unrealized gain on trading securities | ' | 1 |
Other | 100 | 103 |
Total Non-Interest Income | 724 | 650 |
Non-Interest Expenses | ' | ' |
Salaries and employee benefits | 3,784 | 3,859 |
Directors compensation | 444 | 495 |
Occupancy and equipment | 1,343 | 1,403 |
Service bureau fees | 626 | 553 |
Advertising | 144 | 162 |
FDIC assessment | 410 | 291 |
Professional services | 547 | 543 |
Other | 860 | 983 |
Total Non-Interest Expenses | 8,158 | 8,289 |
Income (Loss) before Income Taxes | 1,536 | -2,372 |
Income Tax Expense (Benefit) | 548 | -987 |
Net Income (Loss) | 988 | -1,385 |
Weighted average number of shares of common stock outstanding-basic and diluted (in Shares) | 4,926 | 4,933 |
Earnings (Loss) per common share-basic and diluted (in Dollars per share) | $0.20 | ($0.28) |
Defined benefit pension plans: | ' | ' |
Actuarial loss arising during period, net of tax of $1 and $36, respectively | 2 | 50 |
Reclassification adjustment for prior service cost included in net income, net of tax of $2 and $4, respectively | 2 | 7 |
Reclassification adjustment for net actuarial (gain) loss included in net income, net of tax ($5) and $6, respectively | -6 | 11 |
Other comprehensive (loss) income | -2 | 68 |
Comprehensive income (loss) | $986 | ($1,317) |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Actuarial loss arising during period, Tax | $1 | $36 |
Reclassification adjustment for prior service cost included in net income, Tax | 2 | 4 |
Reclassification adjustment for net actuarial (gain) loss included in net income, Tax | ($5) | $6 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders’ Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Unallocated Common Stock Heldby ESOP [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands | |||||||
Balance - June 30 at Jun. 30, 2012 | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ($1,385) | ' | ' | ' | ($1,385) |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | 68 | 68 |
Allocation of ESOP stock | ' | -58 | ' | 169 | ' | ' | 111 |
Treasury stock repurchased (74,855 Shares) | ' | ' | ' | ' | -476 | ' | -476 |
Amortization of restricted stock plan shares | ' | 180 | ' | ' | ' | ' | 180 |
Stock-based compensation | ' | 137 | ' | ' | ' | ' | 137 |
Balance - June 30 at Jun. 30, 2013 | 562 | 24,473 | 20,682 | -927 | -5,244 | -33 | 39,513 |
Net income (loss) | ' | ' | 988 | ' | ' | ' | 988 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | -2 | -2 |
Allocation of ESOP stock | ' | -37 | ' | 168 | ' | ' | 131 |
Amortization of restricted stock plan shares | ' | 180 | ' | ' | ' | ' | 180 |
Balance - June 30 at Jun. 30, 2014 | $562 | $24,616 | $21,670 | ($759) | ($5,244) | ($35) | $40,810 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders’ Equity (Parentheticals) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Treasury stock repurchased, Shares | 0 | 74,855 |
Amortization of restricted stock plan shares, Shares | 21,584 | 22,023 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash Flows from Operating Activities | ' | ' |
Net income (loss) | $988 | ($1,385) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' |
Net accretion of securities discounts and deferred loan fees and costs | -13 | -263 |
Depreciation and amortization of premises and equipment | 496 | 567 |
Stock based compensation and allocation of ESOP stock | 311 | 428 |
Provision for loan losses | 600 | 4,044 |
Loss on impairment of other real estate owned | ' | 64 |
Gain on sale of other real estate owned | -142 | -62 |
Decrease (increase) in net deferred tax asset | 448 | -494 |
Income from bank owned life insurance | -217 | -217 |
Unrealized gain on trading securities | ' | -1 |
(Increase) decrease in accrued interest receivable | -89 | 112 |
Decrease in other assets | 644 | 257 |
Increase in other liabilities | 69 | 77 |
Net Cash Provided by Operating Activities | 3,095 | 3,127 |
Activity in held to maturity securities: | ' | ' |
Purchases | -8,380 | -71,755 |
Maturities, calls and principal repayments | 4,262 | 41,622 |
(Increase) decrease in loans receivable | -9,203 | 10,674 |
Purchase of bank premises and equipment | -100 | -49 |
Purchase of bank owned life insurance | ' | -588 |
Purchase of Federal Home Loan Bank of New York stock | -565 | -462 |
Redemption of Federal Home Loan Bank of New York stock | 202 | ' |
Capitalized improvements of other real estate owned | -87 | -72 |
Proceeds from the sale of other real estate owned | 2,045 | 2,276 |
Proceeds from sale of trading securities | ' | 53 |
Net Cash Used in Investing Activities | -11,826 | -18,301 |
Cash Flows from Financing Activities | ' | ' |
Net decrease in deposits | -17,078 | -3,331 |
Advances from Federal Home Loan Bank of New York | 11,500 | 10,000 |
Repayment of advances from Federal Home Loan Bank of New York | -3,500 | ' |
Increase in advance payments by borrowers for taxes and insurance | 362 | 35 |
Cash dividends paid to minority shareholders | ' | -56 |
Purchase of treasury stock | ' | -476 |
Net Cash (Used in) Provided by Financing Activities | -8,716 | 6,172 |
Net Decrease in Cash and Cash Equivalents | -17,447 | -9,002 |
Cash and Cash Equivalents – Beginning | 24,755 | 33,757 |
Cash and Cash Equivalents – Ending | 7,308 | 24,755 |
Supplementary Cash Flows Information | ' | ' |
Interest paid | 2,425 | 2,723 |
Income taxes paid | 1 | 239 |
Loan receivable transferred to other real estate | $1,695 | $2,736 |
Note_1_Organization_and_Busine
Note 1 - Organization and Business | 12 Months Ended |
Jun. 30, 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 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. 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 June 30, 2014, 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 “FDIC”). 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 and home equity residential loans, commercial loans, and construction 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 FDIC. 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, which was sold during the year ended June 30, 2007. Currently the Service Corp is inactive. | |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended | ||||
Jun. 30, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
Significant Accounting Policies [Text Block] | ' | ||||
Note 2 - Summary of Significant Accounting Policies | |||||
Basis of Consolidated Financial Statement Presentation | |||||
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, the Bank and the Bank’s wholly owned subsidiary, the Service Corp. All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||
The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). 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 Bank’s market area. 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 for loan losses based on their judgments about information available to them at the time of their examinations. | |||||
The Company has evaluated events and transactions occurring subsequent to the consolidated statement of financial condition date of June 30, 2014 for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. | |||||
Cash and Cash Equivalents | |||||
Cash and cash equivalents include cash and amounts due from depository institutions and interest-bearing deposits with banks with original maturities of three months or less. | |||||
Securities | |||||
Investments in debt securities that the Company has the positive intent and ability to hold to maturity are classified as held to maturity securities and reported at amortized cost. Debt and equity securities that are bought and held principally for the purpose of being sold in the near term are classified as trading securities and reported at fair value, with unrealized holding gains and losses included in earnings. Debt and equity securities not classified as trading securities or as held to maturity securities are classified as available for sale securities and reported at fair value, with unrealized holding gains or losses, net of applicable income taxes, reported in a separate component of stockholders’ equity. The Company had no trading or available for sale securities as of June 30, 2014 and 2013. | |||||
Individual securities are considered impaired when their fair value is less than amortized cost. Management evaluates all securities with unrealized losses quarterly to determine if such impairments are “temporary” or “other-than-temporary” in accordance with applicable accounting guidance. Accordingly, the Company accounts for temporary impairments based upon a security’s classification as trading, available for sale or held to maturity. Temporary impairments on available for sale securities are recognized, on a tax-effected basis, through other comprehensive income (loss) with offsetting entries adjusting the carrying value of the security and the balance of deferred taxes. Temporary impairments of held to maturity securities are not recognized in the consolidated financial statements; however, information concerning the amount and duration of impairments on held to maturity securities is disclosed in the notes to the consolidated financial statements. The carrying value of securities held in the trading portfolio is adjusted to fair value through earnings on a monthly basis. | |||||
Other-than-temporary impairments on securities that the Company has decided to sell or will more likely than not be required to sell prior to the full recovery of their fair value to a level equal to or exceeding amortized cost are recognized in earnings. Otherwise, the other-than-temporary impairment is bifurcated into credit-related and noncredit-related components. The credit-related impairment generally represents the amount by which the present value of the cash flows expected to be collected on a debt security falls below its amortized cost. The noncredit-related component represents the remaining portion of the impairment not otherwise designated as credit-related. Credit-related other-than-temporary impairments are recognized in earnings while noncredit-related other-than-temporary impairments are recognized, net of deferred taxes, in other comprehensive income (loss). | |||||
The Company reviews its investment portfolio on a quarterly basis for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value of a security has been lower than the cost, and the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer. The Company also assesses its intent with regard to selling or holding each security as well as any conditions which may require the sale of security prior to the recovery of fair value to a level which equals or exceeds amortized cost. | |||||
Discounts and premiums on securities are accreted/amortized to maturity by use of the level-yield method. Gain or loss on sales of securities is based on the specific identification method. | |||||
Concentration of Risk | |||||
The Bank’s lending activities are concentrated in loans secured by real estate located in the State of New Jersey. | |||||
Loans Receivable | |||||
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 when 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. | |||||
Allowance for Credit Losses | |||||
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 no later 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, the 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 Company’s allowance for loan losses. Such agencies may require the Company 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 allow 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 of 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 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 the 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 whose terms 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 below market rate given the associated credit risk, or an extension of a loan’s stated maturity date or capitalization of interest and/or escrow. Nonaccrual 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, is 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. | |||||
Other Real Estate Owned | |||||
Other real estate owned represents real estate acquired through formal foreclosure or by taking possession of the real estate and is initially recorded at the lower of cost or fair value, less estimated selling costs establishing a new cost basis. Write-downs required at the time of acquisition are charged to the allowance for loan losses establishing a new cost basis. Thereafter, the Company maintains an allowance for decreases in the properties’ estimated fair value, through charges to earnings. Such charges are included in other non-interest expense along with any additional property maintenance. | |||||
Premises and Equipment | |||||
Premises and equipment are comprised of land, at cost, and buildings, building improvements, furnishings and equipment and leasehold improvements, at cost, less accumulated depreciation and amortization. Depreciation and amortization charges are computed on the straight-line method over the following estimated useful lives: | |||||
Years | |||||
Building and improvements | May-50 | ||||
Furnishings and equipment | 3 – 7 | ||||
Leasehold improvements | Shorter of useful life or term of lease | ||||
Significant renewals and betterments are capitalized to the premises and equipment account. Maintenance and repairs are charged to operations in the year incurred. Rental income is netted against occupancy costs in the consolidated statements of income. | |||||
Federal Home Loan Bank Stock | |||||
Federal law requires a member institution of the Federal Home Loan Bank (“FHLB”) system to hold restricted stock of its district’s FHLB according to a predetermined formula based on advances available and outstanding. The restricted stock is carried at cost. Management’s determination of whether these shares are impaired is based on an assessment of the ultimate recoverability of its cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as (1) the significance of the decline in net assets of the FHLB as compared to the capital stock amount for the FHLB and the length of time this situation has persisted, (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB, and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLB. | |||||
Management believes no impairment charge was necessary related to the FHLB restricted stock during fiscal years 2014 or 2013. | |||||
Bank Owned Life Insurance | |||||
Bank owned life insurance is carried at net cash surrender value. The change in the net cash surrender value is recorded as a component of non-interest income. | |||||
Defined Benefit Plans | |||||
In accordance with applicable guidance prescribed in FASB ASC 715, “Compensation – Retirement Benefits”, the Company recognizes the over-funded or under-funded status of a defined benefit postretirement plan as an asset or liability in the consolidated statement of financial condition, with changes in the funded status recorded through other comprehensive income (loss) in the year in which those changes occur. The funded status of the plan is calculated using actuarial concepts which involve making assumptions regarding discount rate, mortality, expected rate of compensation increases and others. | |||||
Stock-based Compensation Plans | |||||
In accordance with FASB ASC 718, “Compensation – Stock Compensation”, the Company recognizes compensation expense for the total of the fair value of all share-based compensation awards granted over the requisite service periods. In addition, ASC 718 requires that cash flow activity be reported on a financing | |||||
rather than an operating cash flow basis for the benefits, if any, of realized tax deductions in excess of previously recognized tax benefits on compensation expense. | |||||
Advertising | |||||
The Company expenses advertising and marketing costs as incurred. | |||||
Income Taxes Expense (Benefit) | |||||
The Company and its subsidiaries file a consolidated federal income tax return with the MHC. Federal income taxes are allocated based on the contribution of their respective income or loss to the consolidated income tax return. Separate state income tax returns are filed. | |||||
Federal and state income taxes have been provided in these consolidated financial statements on the basis of reported income (loss). The amounts reflected on the income tax returns differ from these provisions due principally to temporary differences in the reporting of certain items of income and expense for financial reporting and income tax reporting purposes. Deferred income taxes are recorded to recognize such temporary differences. | |||||
The Company follows the provisions of FASB ASC 740, “Income Taxes”, formerly FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (“FIN48”). ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provides guidance on derecognizing, classification, interest and penalties, accounting in interim periods, disclosure and transition. As a result of the Company’s evaluation under ASC 740, no significant income tax uncertainties have been identified. Therefore, the Company recognized no adjustment for unrecognized income tax benefits for the years ended June 30, 2014 and 2013. The Company’s policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense in the consolidated statement of income (loss). The Company did not recognize any interest and penalties for the years ended June 30, 2014 and 2013. The tax years subject to examination by the taxing authorities are the years ended June 30, 2013, 2012, and 2011. | |||||
Off-Balance Sheet Credit-Related Financial Instruments | |||||
In the ordinary course of business, the Company enters into commitments to extend credit, including commitments under lines of credit. Such financial instruments are recorded when they are funded. | |||||
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, exclusive of the Employee Stock Ownership Plan (“ESOP”) shares not yet committed to be released. Diluted earnings 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 (loss) per share for the years ended June 30, 2014 and 2013, as the 275,410 weighted average number of outstanding stock options for the years ended June 30, 2014 and 2013, were all anti-dilutive and the Company incurred a net loss during 2013. | |||||
Other Comprehensive Income (Loss) | |||||
Other comprehensive income (loss) includes benefit plans amounts recognized under ASC 715, “Compensation-Retirement Benefits”. This item of other comprehensive income (loss) reflects, net of tax, prior service costs and unrealized net losses that had not been recognized in the consolidated financial statements prior to the implementation of ASC 715 along with actuarial losses arising during the current period. | |||||
Interest Rate Risk | |||||
The Bank is principally engaged in the business of attracting deposits from the general public and using these deposits, together with other funds, to purchase securities and to make loans primarily secured by real estate. The potential for interest-rate risk exists as a result of the generally shorter duration of the Bank’s interest-sensitive liabilities compared to the generally longer duration of its interest-sensitive assets. In a rising rate environment, liabilities will generally reprice faster than assets, thereby reducing net interest income. For this reason, management regularly monitors the maturity structure of the Bank’s assets and liabilities in order to measure its level of interest-rate risk and to plan for future volatility. | |||||
Note_3_Stock_Offering_and_Stoc
Note 3 - Stock Offering and Stock Repurchase Program | 12 Months Ended |
Jun. 30, 2014 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
Note 3 - Stock Offering and Stock Repurchase Program | |
A Registration Statement on Form S-1 (File No. 333-137294), as amended, was filed by the Company with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended, relating to the offer for sale of up to 2,199,375 shares (subject to increase to 2,529,281 shares) of its common stock at $10.00 per share. The offering closed on January 4, 2007 and 2,529,281 shares were sold for gross proceeds of $25,292,810, including 202,342 shares sold to the Bank’s newly established ESOP. Net proceeds of the offering totaled approximately $24.5 million. Concurrent with the closing of the offering, the MHC received 3,091,344 shares of Company common stock in exchange for the 10,000 shares previously owned. At June 30, 2014, the MHC is the majority stockholder of the Company owning 61.7% of the Company’s outstanding common stock. Prior to January 4, 2007, the MHC owned 100% of the Company’s outstanding 10,000 shares of common stock. | |
Since the first repurchase program authorized by the Company’s Board of Directors on January 29, 2008, the Company has repurchased 610,188 shares of the Company’s common stock through several repurchase programs. The Company did not repurchase any shares during the year ended June 30, 2014. | |
The Company did not declare or pay any cash dividends during the years ended June 30, 2014 and 2013. | |
Note_4_Securities_Held_to_Matu
Note 4 - Securities Held to Maturity | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Investment Holdings [Text Block] [Abstract] | ' | ||||||||||||||||||||||||
Investment Holdings [Text Block] | ' | ||||||||||||||||||||||||
Note 4 - Securities Held to Maturity | |||||||||||||||||||||||||
The amortized cost of securities held to maturity and their fair values are summarized as follows: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 49,177 | $ | 49 | $ | 1,551 | $ | 47,675 | |||||||||||||||||
Mortgage-backed securities | 26,089 | 464 | 338 | 26,215 | |||||||||||||||||||||
Corporate bonds | 4,630 | 56 | 5 | 4,681 | |||||||||||||||||||||
Certificates of deposits | 5,036 | 30 | 1 | 5,065 | |||||||||||||||||||||
$ | 84,932 | $ | 599 | $ | 1,895 | $ | 83,636 | ||||||||||||||||||
June 30, 2013: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 46,194 | $ | 84 | $ | 2,131 | $ | 44,147 | |||||||||||||||||
Mortgage-backed securities | 24,768 | 297 | 754 | 24,311 | |||||||||||||||||||||
Corporate bonds | 4,669 | 15 | 72 | 4,612 | |||||||||||||||||||||
Certificates of deposits | 5,281 | 17 | 1 | 5,297 | |||||||||||||||||||||
$ | 80,912 | $ | 413 | $ | 2,958 | $ | 78,367 | ||||||||||||||||||
All mortgage-backed securities at June 30, 2014 and 2013 have been issued by FNMA, FHLMC or GNMA and are secured by 1-4 family residential real estate. | |||||||||||||||||||||||||
The amortized cost and fair value of securities held to maturity at June 30, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Amortized Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. Government agencies: | |||||||||||||||||||||||||
Due after one year through five years | $ | 23,000 | $ | 22,497 | |||||||||||||||||||||
Due after five years through ten years | 12,177 | 11,835 | |||||||||||||||||||||||
Due thereafter | 14,000 | 13,343 | |||||||||||||||||||||||
49,177 | 47, 675 | ||||||||||||||||||||||||
Mortgage-backed securities | 26,089 | 26,215 | |||||||||||||||||||||||
Corporate Bonds | |||||||||||||||||||||||||
Due after one year through five years | 4,630 | 4,681 | |||||||||||||||||||||||
Certificates of Deposits | |||||||||||||||||||||||||
Due within one year | 1,425 | 1,427 | |||||||||||||||||||||||
Due after one year through five years | 3,611 | 3,638 | |||||||||||||||||||||||
5,036 | 5,065 | ||||||||||||||||||||||||
$ | 84,932 | $ | 83,636 | ||||||||||||||||||||||
There were no sales of securities held to maturity during the years ended June 30, 2014 and 2013. At June 30, 2014 and 2013 securities held to maturity with a fair value of approximately $764,000 and $782,000, respectively, were pledged to secure public funds on deposit. | |||||||||||||||||||||||||
The following table provides the gross unrealized losses and fair value of securities in an unrealized loss position, by 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) | |||||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
U.S. Government | $ | 36,339 | $ | 1,341 | $ | 6,290 | $ | 210 | $ | 42,629 | $ | 1,551 | |||||||||||||
agencies | |||||||||||||||||||||||||
Mortgage-backed securities | 17,022 | 325 | 816 | 13 | 17,838 | 338 | |||||||||||||||||||
Corporate bonds | 1,031 | 5 | — | — | 1,031 | 5 | |||||||||||||||||||
Certificates of deposits | 489 | 1 | — | — | 489 | 1 | |||||||||||||||||||
$ | 54,881 | $ | 1,672 | $ | 7,106 | $ | 223 | $ | 61,987 | $ | 1,895 | ||||||||||||||
June 30, 2013: | |||||||||||||||||||||||||
U.S. Government | $ | 42,048 | $ | 2,131 | $ | — | $ | — | $ | 42,048 | $ | 2,131 | |||||||||||||
agencies | |||||||||||||||||||||||||
Mortgage-backed securities | 18,401 | 754 | — | — | 18,401 | 754 | |||||||||||||||||||
Corporate bonds | 2,980 | 72 | — | — | 2,980 | 72 | |||||||||||||||||||
Certificates of deposits | 246 | 1 | — | — | 246 | 1 | |||||||||||||||||||
$ | 63,675 | $ | 2,958 | $ | — | $ | — | $ | 63,675 | $ | 2,958 | ||||||||||||||
At June 30, 2014, management concluded that the unrealized losses above (which related to thirty-one U.S. Government agency bonds, twenty-two mortgage-backed securities, two corporate bonds and two certificate 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) were temporary in nature since they were 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 full recovery of fair value to a level which equals or exceeds amortized cost. The losses above are primarily related to market conditions and are considered noncredit related and temporary. | |||||||||||||||||||||||||
Note_5_Loans_Receivable_and_Al
Note 5 - Loans Receivable and Allowance for Credit Losses | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||
Note 5 - Loans Receivable and Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
The composition of total loans receivable at June 30, 2014 and 2013 was as follows: | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 143,283 | $ | 136,704 | |||||||||||||||||||||||||||||
Home equity | 38,484 | 40,682 | |||||||||||||||||||||||||||||||
181,767 | 177,386 | ||||||||||||||||||||||||||||||||
Commercial real estate | 32,036 | 32,171 | |||||||||||||||||||||||||||||||
Construction | 12,517 | 8,895 | |||||||||||||||||||||||||||||||
Commercial and industrial | 9,666 | 9,267 | |||||||||||||||||||||||||||||||
54,219 | 50,333 | ||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Deposit accounts | 602 | 611 | |||||||||||||||||||||||||||||||
Automobile | 33 | 111 | |||||||||||||||||||||||||||||||
Personal | 36 | 32 | |||||||||||||||||||||||||||||||
Overdraft protection | 161 | 175 | |||||||||||||||||||||||||||||||
832 | 929 | ||||||||||||||||||||||||||||||||
Total Loans Receivable | 236,818 | 228,648 | |||||||||||||||||||||||||||||||
Loans in process | (2,491 | ) | (745 | ) | |||||||||||||||||||||||||||||
Deferred loan fees | (366 | ) | (377 | ) | |||||||||||||||||||||||||||||
$ | 233,961 | $ | 227,526 | ||||||||||||||||||||||||||||||
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 June 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||
30-Jun-14 | Year Ended | ||||||||||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 15,975 | $ | 16,667 | $ | - | $ | 14,982 | $ | 620 | |||||||||||||||||||||||
Home equity | 1,740 | 1,756 | - | 2,019 | 41 | ||||||||||||||||||||||||||||
Commercial real estate | 1,973 | 2,431 | - | 1,404 | 76 | ||||||||||||||||||||||||||||
Construction | 1,707 | 1,936 | - | 1,365 | 97 | ||||||||||||||||||||||||||||
One-to-four family owner-occupied | |||||||||||||||||||||||||||||||||
Other | 750 | 750 | - | 920 | 36 | ||||||||||||||||||||||||||||
Commercial and industrial | 648 | 1,187 | - | 813 | 36 | ||||||||||||||||||||||||||||
22,793 | 24,727 | - | 21,503 | 906 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | - | - | - | 632 | - | ||||||||||||||||||||||||||||
Home equity | - | - | - | 294 | - | ||||||||||||||||||||||||||||
Commercial real estate | - | - | - | 752 | - | ||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner-occupied | - | - | - | 341 | - | ||||||||||||||||||||||||||||
Other | 137 | 138 | 73 | 110 | 3 | ||||||||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | ||||||||||||||||||||||||||||
137 | 138 | 73 | 2,129 | 3 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 15,975 | 16,667 | - | 15,614 | 620 | ||||||||||||||||||||||||||||
Home equity | 1,740 | 1,756 | - | 2,313 | 41 | ||||||||||||||||||||||||||||
Commercial real estate | 1,973 | 2,431 | - | 2,156 | 76 | ||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner-occupied | 1,707 | 1,936 | - | 1,706 | 97 | ||||||||||||||||||||||||||||
Other | 887 | 888 | 73 | 1,030 | 39 | ||||||||||||||||||||||||||||
Commercial and industrial | 648 | 1,187 | - | 813 | 36 | ||||||||||||||||||||||||||||
$ | 22,930 | $ | 24,865 | $ | 73 | $ | 23,632 | $ | 909 | ||||||||||||||||||||||||
(1) | As of June 30, 2014, impaired loans listed above include $16.7 million of loans previously modified in TDRs and as such are considered impaired under GAAP. As of June 30, 2014, $13.4 million of these loans have been performing in accordance with their modified terms for an extended period of time and as such were removed from non-accrual status and considered performing. | ||||||||||||||||||||||||||||||||
30-Jun-13 | Year Ended | ||||||||||||||||||||||||||||||||
30-Jun-13 | |||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 13,817 | $ | 14,747 | $ | - | $ | 11,978 | $ | 437 | |||||||||||||||||||||||
Home equity | 3,376 | 3,406 | - | 3,399 | 127 | ||||||||||||||||||||||||||||
Commercial real estate | 1,796 | 1,867 | - | 1,742 | 65 | ||||||||||||||||||||||||||||
Construction | - | - | - | 387 | - | ||||||||||||||||||||||||||||
One-to-four family occupied | |||||||||||||||||||||||||||||||||
Other | 1,601 | 1,510 | 671 | 16 | |||||||||||||||||||||||||||||
Commercial and industrial | 750 | 1,103 | - | 536 | 29 | ||||||||||||||||||||||||||||
21,340 | 22,633 | - | 18,713 | 674 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 1,469 | 1,720 | 58 | 3,219 | 34 | ||||||||||||||||||||||||||||
Home equity | 891 | 1,214 | 233 | 737 | 7 | ||||||||||||||||||||||||||||
Commercial real estate | 1,444 | 1,804 | 88 | 1,512 | 17 | ||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 1,936 | 23 | 1,230 | 87 | ||||||||||||||||||||||||||||
Other | - | - | - | 646 | - | ||||||||||||||||||||||||||||
Commercial and industrial | 150 | 100 | 31 | 449 | 5 | ||||||||||||||||||||||||||||
5,661 | 6,774 | 433 | 7,793 | 150 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 15,286 | 16,467 | 58 | 15,197 | 471 | ||||||||||||||||||||||||||||
Home equity | 4,267 | 4,620 | 233 | 4,136 | 134 | ||||||||||||||||||||||||||||
Commercial real estate | 3,240 | 3,671 | 88 | 3,254 | 82 | ||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 1,936 | 23 | 1,617 | 87 | ||||||||||||||||||||||||||||
Other | 1,601 | 1,510 | - | 1,317 | 16 | ||||||||||||||||||||||||||||
Commercial and industrial | 900 | 1,203 | 31 | 985 | 34 | ||||||||||||||||||||||||||||
$ | 27,001 | $ | 29,407 | $ | 433 | $ | 26,506 | $ | 824 | ||||||||||||||||||||||||
(1) As of June 30, 2013, impaired loans listed above included $18.1 million of loans previously modified in TDRs and as such are considered impaired under GAAP. As of June 30, 2013, $11.8 million of these loans have been performing in accordance with their modified terms for an extended period of time and as such were removed from nonaccrual status and considered performing. | |||||||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||
Management uses an eight 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. They 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 table presents 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 June 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||
As of June 30, 2014 | Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 27,280 | $ | 3,062 | $ | 1,621 | $ | - | $ | - | $ | 31,963 | |||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner-occupied | 850 | - | 1,707 | - | - | 2,557 | |||||||||||||||||||||||||||
Other | 6,851 | 445 | 64 | - | 73 | 7,433 | |||||||||||||||||||||||||||
Commercial and industrial | 8,769 | 105 | 778 | - | - | 9.652 | |||||||||||||||||||||||||||
Total | $ | 43,750 | $ | 3,612 | $ | 4,170 | $ | - | $ | 73 | $ | 51,605 | |||||||||||||||||||||
As of June 30, 2013 | Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
(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 table represents the classes of the loans receivable portfolio summarized by aging categories of performing loans and non-accrual loans as of June 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||
As of June 30, 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 | $ | 2,496 | 1,381 | 2,185 | 6,062 | $ | 137,048 | $ | 143,110 | $ | 4,346 | $ | 310 | ||||||||||||||||||||
Home equity | 32 | 125 | 1,207 | 1,364 | 37,049 | 38,413 | 1,586 | 51 | |||||||||||||||||||||||||
Commercial real estate | - | - | 1,248 | 1,248 | 30,715 | 31,963 | 1,248 | - | |||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family | - | - | - | - | 2,557 | 2,557 | - | - | |||||||||||||||||||||||||
owner-occupied | |||||||||||||||||||||||||||||||||
Other | - | - | - | - | 7,433 | 7,433 | 137 | - | |||||||||||||||||||||||||
Commercial and industrial | 9 | - | 170 | 179 | 9,473 | 9,652 | 635 | - | |||||||||||||||||||||||||
Consumer | 4 | - | - | 4 | 829 | 833 | - | - | |||||||||||||||||||||||||
Total | $ | 2,541 | $ | 1,506 | $ | 4,810 | $ | 8,857 | $ | 225,104 | $ | 233,961 | $ | 7,952 | $ | 361 | |||||||||||||||||
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 | - | - | - | - | 4,552 | 4,552 | - | - | |||||||||||||||||||||||||
owner-occupied | |||||||||||||||||||||||||||||||||
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 table summarizes the allowance for loan losses and the loan receivable balances, by the portfolio segment segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of June 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Commercial | Consumer | Total | ||||||||||||||||||||||||||||
Mortgage | Real Estate | and | |||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan | |||||||||||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,183 | $ | 860 | $ | 379 | $ | 256 | $ | 8 | $ | 3,686 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | - | $ | 73 | $ | - | $ | - | $ | 73 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,183 | $ | 860 | $ | 306 | $ | 256 | $ | 8 | $ | 3,613 | |||||||||||||||||||||
Loans receivables: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 181,524 | $ | 31,963 | $ | 9,990 | $ | 9,652 | $ | 832 | $ | 233,961 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 17,715 | $ | 1,973 | $ | 2,594 | $ | 648 | $ | - | $ | 22,930 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 163,809 | $ | 29,990 | $ | 7,396 | $ | 9,004 | $ | 832 | $ | 211,031 | |||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Real Estate | and | |||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan | (In thousands) | ||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||
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. | |||||||||||||||||||||||||||||||||
The following table presents changes in the allowance for loan losses for the years ended June 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial and | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Industrial | ||||||||||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Balance, beginning | $ | 3,036 | $ | 706 | $ | 238 | $ | 276 | $ | 11 | $ | 3 | $ | 4,270 | |||||||||||||||||||
Provisions | (351 | ) | 494 | 246 | 208 | 6 | (3 | ) | 600 | ||||||||||||||||||||||||
Loans charged-off | (537 | ) | (340 | ) | (119 | ) | (236 | ) | (9 | ) | - | (1,241 | ) | ||||||||||||||||||||
Recoveries | 35 | - | 14 | 8 | - | - | 57 | ||||||||||||||||||||||||||
Balance, ending | $ | 2,183 | $ | 860 | $ | 379 | $ | 256 | $ | 8 | $ | - | $ | 3,686 | |||||||||||||||||||
Year Ended June 30, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial and | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Industrial | ||||||||||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Balance, beginning | $ | 1,808 | $ | 445 | $ | 527 | $ | 272 | $ | 13 | $ | - | $ | 3,065 | |||||||||||||||||||
Provisions | 3,039 | 609 | 44 | 346 | 3 | 3 | 4,044 | ||||||||||||||||||||||||||
Loans charged-off | (1,867 | ) | (348 | ) | (333 | ) | (342 | ) | (5 | ) | - | (2,895 | ) | ||||||||||||||||||||
Recoveries | 56 | - | - | - | - | - | 56 | ||||||||||||||||||||||||||
Balance, ending | $ | 3,036 | $ | 706 | $ | 238 | $ | 276 | $ | 11 | $ | 3 | $ | 4,270 | |||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||
The recorded investment balance of TDRs totaled $16.7 million and $18.1 million at June 30, 2014 and June 30, 2013, respectively. The majority of the Company’s TDRs are on accrual status. TDRs on accrual status were $13.4 million and $11.8 million at June 30, 2014 and June 30, 2013, while TDRs on non-accrual status were $3.2 million and $6.2 million at those respective dates. At June 30, 2014 and 2013, the allowance for loan losses included specific reserves of $73,000 and $152,000, respectively, related to TDRs. | |||||||||||||||||||||||||||||||||
The Company had two loans modified as TDRs during the year ended June 30, 2014. One of the loans was a residential adjustable rate mortgage whereby the borrower was able to pay past due interest and escrow. The past due principal was re-amortized over the remaining term. There was no change in the interest rate or maturity date. The other loan was a fixed rate mortgage whereby the past due taxes were capitalized and the Company granted interest-only payments until March 2015. In addition, tax escrows will be required on an on-going basis. There was no change in the interest rate or maturity date. | |||||||||||||||||||||||||||||||||
The Company had eighteen loans modified in TDRs during the year ended June 30, 2013. Three of these loans were restructured as interest only for a one-year period. Four of the loans were commercial lines of credit that were extended for another twelve months of which two were given higher rates and two remained at the same rate. One loan had the maturity extended from a 20-year term to a 30-year term with a reduced rate. Five loans had interest rates reduced for a five-year period. One loan had a rate reduction for a one-year period. One commercial construction loan was restructured bringing in a new owner and scheduling annual principal step-downs over a three-year period which will result in a full payout. Three loans were restructured by capitalizing past due amounts of interest and escrow and granting lower rates. | |||||||||||||||||||||||||||||||||
The following tables summarize by class loans modified into TDRs during the years ended June 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
((Dollars in thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 2 | $ | 1,054 | $ | 1,071 | ||||||||||||||||||||||||||||
Total | 2 | $ | 1,054 | $ | 1,071 | ||||||||||||||||||||||||||||
Year Ended June 30, 2013 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 10 | $ | 3,625 | $ | 3,582 | ||||||||||||||||||||||||||||
Commercial real estate | 3 | 1,119 | 1.063 | ||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Other | 1 | 1,150 | 987 | ||||||||||||||||||||||||||||||
Commercial and industrial | 4 | 214 | 214 | ||||||||||||||||||||||||||||||
Total | 18 | $ | 6,108 | $ | 5,846 | ||||||||||||||||||||||||||||
The following tables summarize loans modified in TDRs during the previous 12 months and for which there was a subsequent payment default during the years ended June 30, 2014 and June 30, 2013. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
Commercial real estate | 1 | $ | 409 | $ | 409 | ||||||||||||||||||||||||||||
Commercial and industrial | 2 | 23 | 68 | ||||||||||||||||||||||||||||||
Total | 3 | $ | 432 | $ | 477 | ||||||||||||||||||||||||||||
Year Ended June 30, 2013 | |||||||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 1 | $ | 156 | $ | 127 | ||||||||||||||||||||||||||||
Total | 1 | $ | 156 | $ | 127 | ||||||||||||||||||||||||||||
Note_6_Premises_and_Equipment
Note 6 - Premises and Equipment | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
Note 6 - Premises and Equipment | |||||||||
The components of premises and equipment at June 30, 2014 and 2013 were as follows: | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Land | $ | 1,937 | $ | 1,937 | |||||
Buildings and improvements | 8,477 | 8,469 | |||||||
Leasehold improvements | 1,767 | 1,787 | |||||||
Furnishings and equipment | 1,835 | 1,887 | |||||||
Assets being developed for future use | 15 | 3 | |||||||
14,031 | 14,083 | ||||||||
Accumulated depreciation and amortization | (5,545 | ) | (5,201 | ) | |||||
$ | 8,486 | $ | 8,882 | ||||||
Note_7_Accrued_Interest_Receiv
Note 7 - Accrued Interest Receivable | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Accrued Interest Receivable Disclosure [Text Block] [Abstract] | ' | ||||||||
Accrued Interest Receivable Disclosure [Text Block] | ' | ||||||||
Note 7 - Accrued Interest Receivable | |||||||||
The components of interest receivable at June 30, 2014 and 2013 were as follows: | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Loans | $ | 886 | $ | 847 | |||||
Securities held to maturity | 432 | 382 | |||||||
$ | 1,318 | $ | 1,229 | ||||||
Note_8_Deposits
Note 8 - Deposits | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Disclosure Text Block [Abstract] | ' | |||||||||||
Deposit Liabilities Disclosures [Text Block] | ' | |||||||||||
Note 8 - Deposits | ||||||||||||
Deposits at June 30, 2014 and 2013 consist of the following classifications: | ||||||||||||
2014 | 2013 | |||||||||||
Amount | Average | Amount | Average | |||||||||
Rate | Rate | |||||||||||
(Dollars in thousands) | ||||||||||||
Non-interest bearing demand | $ | 22,206 | — | % | $ | 18,559 | — | % | ||||
NOW | 31,899 | 0.15 | 31,973 | 0.14 | ||||||||
Super NOW | 4,791 | 0.2 | 3,991 | 0.2 | ||||||||
Savings and club | 102,241 | 0.21 | 112,385 | 0.21 | ||||||||
Money market demand | 3,724 | 0.23 | 3,611 | 0.23 | ||||||||
Certificates of deposit | 98,528 | 1.32 | 109,948 | 1.4 | ||||||||
$ | 263,389 | 0.6 | % | $ | 280,467 | 0.65 | % | |||||
A summary of certificates of deposit by maturity at June 30, 2014 is as follows (in thousands): | ||||||||||||
Year ended June 30: | ||||||||||||
2015 | $ | 62,142 | ||||||||||
2016 | 19,058 | |||||||||||
2017 | 9,154 | |||||||||||
2018 | 3,515 | |||||||||||
2019 | 2,527 | |||||||||||
Thereafter | 2,132 | |||||||||||
$ | 98,528 | |||||||||||
The aggregate amount of certificates of deposit with a minimum denomination of $100,000 was approximately $41,775,000 and $44,740,000 at June 30, 2014 and 2013, respectively. Generally, deposits in excess of $250,000 are not insured by the FDIC. | ||||||||||||
A summary of interest expense on deposits for the years ended June 30, 2014 and 2013 is as follows: | ||||||||||||
2014 | 2013 | |||||||||||
(In thousands) | ||||||||||||
NOW, super NOW and money market demand | $ | 50 | $ | 51 | ||||||||
Savings and club | 233 | 251 | ||||||||||
Certificates of deposit | 1,372 | 1,705 | ||||||||||
$ | 1,655 | $ | 2,007 | |||||||||
Note_9_Borrowings
Note 9 - Borrowings | 12 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Subordinated Borrowings [Abstract] | ' | ||||||||||||||
Subordinated Borrowings Disclosure [Text Block] | ' | ||||||||||||||
Note 9 - Borrowings | |||||||||||||||
The Company participates in the FHLB of New York (the “FHLB of NY”) Overnight Advance Program. Advances under this program allow the Company to borrow up to the balance of its qualifying mortgage loans that have been pledged as collateral, less any related outstanding indebtedness. As of June 30, 2014 and 2013, the Company had $69.5 million and $80.8 million, respectively, available for borrowing under this agreement. | |||||||||||||||
Term advances due to the FHLB of NY at June 30, 2014 and 2013 consisted of the following: | |||||||||||||||
Maturity | Fixed | 2014 | 2013 | ||||||||||||
Interest | |||||||||||||||
Rate | |||||||||||||||
(in thousands) | |||||||||||||||
25-Feb-16 | 0.78 | % | $ | 5,000 | $ | 5,000 | |||||||||
7-Mar-16 | 0.78 | 5,000 | 5,000 | ||||||||||||
27-Nov-17 | 3.272 | 10,000 | 10,000 | ||||||||||||
5-Mar-18 | 3.46 | 10,000 | 10,000 | ||||||||||||
2.504 | % | $ | 30,000 | $ | 30,000 | ||||||||||
The advances are secured by a blanket assignment of unpledged and qualifying mortgage loans. | |||||||||||||||
In addition, the Company had an $8.0 million overnight advance with the Federal Home Loan Bank of New York as of June 30, 2014. The Company did not have any overnight advances with the Federal Home Loan Bank as of June 30, 2013. | |||||||||||||||
As of June 30, 2014, the Company also had a $20.0 million line of credit with a financial institution for reverse repurchase agreements that it could access if necessary. There were no amounts outstanding on the line at June 30, 2014 and 2013. | |||||||||||||||
Note_10_Lease_Commitments_and_
Note 10 - Lease Commitments and Total Rental Expense | 12 Months Ended | |||||
Jun. 30, 2014 | ||||||
Leases [Abstract] | ' | |||||
Leases of Lessor Disclosure [Text Block] | ' | |||||
Note 10 - Lease Commitments and Total Rental Expense | ||||||
The Company leases three branch locations under long-term operating leases. Future minimum lease payments by year and in the aggregate, under noncancellable operating leases with initial or remaining terms of one year or more, consisted of the following at June 30, 2014 (in thousands): | ||||||
Year Ended June 30: | ||||||
2015 | $ | 415 | ||||
2016 | 415 | |||||
2017 | 431 | |||||
2018 | 333 | |||||
2019 | 263 | |||||
Thereafter | 307 | |||||
$ | 2,164 | |||||
The total rental expense for all leases was approximately $407,000 for the years ended June 30, 2014 and 2013, respectively. | ||||||
Note_11_Income_Taxes
Note 11 - Income Taxes | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||
Note 11 - Income Taxes | |||||||||||||
The total tax expense (benefit) consisted of the following for the years ended June 30, 2014 and 2013: | |||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Current income tax expense (benefit): | |||||||||||||
Federal | $ | 7 | $ | (394 | ) | ||||||||
State | 93 | (99 | ) | ||||||||||
100 | (493 | ) | |||||||||||
Deferred income tax expense (benefi)t: | |||||||||||||
Federal | 408 | (384 | ) | ||||||||||
State | 40 | (110 | ) | ||||||||||
448 | (494 | ) | |||||||||||
$ | 548 | $ | (987 | ) | |||||||||
A reconciliation of the statutory federal income tax at a rate of 34% to the income tax expense (benefit) included in the statements of comprehensive (loss) income at June 30, 2014 and 2013, is as follows: | |||||||||||||
2014 | 2013 | ||||||||||||
Amount | % of | Amount | % of | ||||||||||
Pretax | Pretax | ||||||||||||
Income | Income | ||||||||||||
(Dollars in thousands) | |||||||||||||
Federal income tax at statutory rate | $ | 522 | 34 | % | $ | (807 | ) | 34 | % | ||||
State tax, net of federal benefit | 88 | 5.8 | (138 | ) | 5.8 | ||||||||
Bank Owned Life Insurance | (74 | ) | (4.8 | ) | (69 | ) | 2.9 | ||||||
Stock options | (19 | ) | (1.3 | ) | 57 | (2.4 | ) | ||||||
Other | 31 | 2 | (30 | ) | 1.3 | ||||||||
$ | 548 | 35.7 | % | $ | (987 | ) | 41.6 | % | |||||
The components of the net deferred tax asset at June 30, 2014 and 2013 were as follows: | |||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Allowances for losses on loans and commitments | $ | 1,484 | $ | 1,717 | |||||||||
Uncollected interest | 142 | 425 | |||||||||||
Benefit plans | 1,007 | 962 | |||||||||||
Restricted stock award | 72 | 72 | |||||||||||
Other | 63 | 56 | |||||||||||
2,768 | 3,232 | ||||||||||||
Deferred tax liabilities | |||||||||||||
Depreciation | (148 | ) | (166 | ) | |||||||||
Net deferred tax asset | $ | 2,620 | $ | 3,066 | |||||||||
Retained earnings included $1,466,000 at June 30, 2014 and 2013, for which no provision for income tax has been made. These amounts represent deductions for bad debt reserves for tax purposes which were only allowed to savings institutions which met certain definitional tests prescribed by the Internal Revenue Code of 1986, as amended. The Small Business Job Protection Act of 1996 (the “Act”) eliminated the special bad debt deduction granted solely to thrifts. Under the terms of the Act, there would be no recapture of the pre-1988 (base year) reserves. However, these pre-1988 reserves would be subject to recapture under the rules of the Internal Revenue Code if the Bank itself pays a cash dividend in excess of earnings and profits, or liquidates. The Act also provides for the recapture of deductions arising from the “applicable excess reserve” defined as the total amount of reserve over the base year reserve. The Bank’s total reserve exceeds the base year reserve and deferred taxes have been provided for this excess. | |||||||||||||
Note_12_Benefit_Plans
Note 12 - Benefit Plans | 12 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||
Compensation and Employee Benefit Plans [Text Block] | ' | ||||||||||
Note 12 - Benefit Plans | |||||||||||
Directors’ Retirement Plan | |||||||||||
The Bank has a Directors’ Retirement Plan, which provides that certain directors meeting specified age and service requirements may retire and continue to be paid. This plan is unfunded. | |||||||||||
The following table sets forth the accumulated benefit obligation, the changes in the plan’s projected benefit obligation and the plan’s funded status as of and for the years ended June 30, 2014 and 2013: | |||||||||||
2014 | 2013 | ||||||||||
(Dollars in thousands) | |||||||||||
Accumulated benefit obligation – ending | $ | 1,356 | $ | 1,231 | |||||||
Projected benefit obligation – beginning | $ | 1,380 | $ | 1,340 | |||||||
Service cost | 22 | 17 | |||||||||
Interest cost | 67 | 56 | |||||||||
Actuarial loss | 19 | (10 | ) | ||||||||
Benefit payments | (34 | ) | (23 | ) | |||||||
Projected benefit obligation – ending | $ | 1,454 | $ | 1,380 | |||||||
Plan assets at fair value – beginning | $ | — | $ | — | |||||||
Employer contribution | 34 | 23 | |||||||||
Benefit payments | (34 | ) | (23 | ) | |||||||
Plan assets at fair value – ending | $ | — | $ | — | |||||||
Funded status at end of year (included in other liabilities) | $ | 1,454 | $ | 1,380 | |||||||
Assumptions: | |||||||||||
Discount rate | 4.5 | % | 5 | % | |||||||
Rate of compensation increase | 3 | % | 3 | % | |||||||
Net periodic pension cost for the years ended June 30, 2014 and 2013 included the following: | |||||||||||
2014 | 2013 | ||||||||||
(Dollars in thousands) | |||||||||||
Service cost | $ | 22 | $ | 17 | |||||||
Interest cost | 67 | 56 | |||||||||
Amortization of unrecognized loss | 17 | 33 | |||||||||
Amortization of unrecognized past service liability | 4 | 11 | |||||||||
Net periodic pension cost | $ | 110 | $ | 117 | |||||||
Assumptions: | |||||||||||
Discount rate | 5 | % | 4.25 | % | |||||||
Rate of compensation | 3 | % | 3 | % | |||||||
For the year ended June 30, 2015 the Bank expects to contribute $69,000 to the plan. | |||||||||||
Estimated future benefit payments for the years ending June 30, which reflect expected future service, as appropriate, are as follows (in thousands): | |||||||||||
2015 | $ | 69 | |||||||||
2016 | 96 | ||||||||||
2017 | 103 | ||||||||||
2018 | 110 | ||||||||||
2019 | 130 | ||||||||||
2020 – 2023 | 742 | ||||||||||
As of June 30, 2014 and 2013, unrecognized past service liabilities and actuarial losses aggregating approximately $240,000 and $244,000 respectively, were included, net of income taxes of $96,000 and $98,000 respectively, in accumulated other comprehensive loss. Approximately $22,000 of this amount is expected to be recognized as a component of net periodic pension cost during the year ending June 30, 2015. | |||||||||||
Executive Incentive Retirement Plan | |||||||||||
The Bank has an unfunded, non-qualified executive incentive retirement plan covering all eligible executives. The plan provides for either a lump sum payment or equal annual installments for a period of fifteen years commencing on the first day of the calendar month following the termination of employment due to retirement, resignation, disability or death. The amount payable is based on the vested balance of the executive’s accumulated awards plus interest. The annual awards are based upon the executive’s base salary in effect at the beginning of the plan year and the Bank’s net income for the prior fiscal year. The percentage vested is based on the sum of the executive’s age and years of service. | |||||||||||
The following table sets forth the accumulated benefit obligation, changes in the plan’s projected benefit obligation and the plan’s funded status as of and for the years ended June 30, 2014 and 2013: | |||||||||||
2014 | 2013 | ||||||||||
(Dollars in thousands) | |||||||||||
Accumulated benefit obligation – ending | $ | 459 | $ | 442 | |||||||
Projected benefit obligation – beginning | $ | 442 | $ | 472 | |||||||
Service cost | 39 | 47 | |||||||||
Interest cost | 22 | 20 | |||||||||
Actuarial gain | (22 | ) | (76 | ) | |||||||
Benefits paid | (22 | ) | (21 | ) | |||||||
Projected benefit obligation and funded status – ending (included in other liabilities) | $ | 459 | $ | 442 | |||||||
Assumption: | |||||||||||
Discount rate | 4.5 | % | 5 | % | |||||||
Net periodic pension cost for the years ended June 30, 2014 and 2013, included the following: | |||||||||||
2014 | 2013 | ||||||||||
(Dollars in thousands) | |||||||||||
Service cost | $ | 39 | $ | 47 | |||||||
Interest cost | 22 | 20 | |||||||||
Amortization of unrecognized gain | (28 | ) | (16 | ) | |||||||
Net periodic pension cost | $ | 33 | $ | 51 | |||||||
Assumption: | |||||||||||
Discount rate | 5 | % | 4.25 | % | |||||||
For the year ending June 30, 2015, the Bank expects to contribute $31,000 to the plan. | |||||||||||
Estimated future benefit payments for the years ending June 30, which reflect expected future service, as appropriate, are as follows (in thousands): | |||||||||||
2015 | $ | 31 | |||||||||
2016 | 31 | ||||||||||
2017 | 32 | ||||||||||
2018 | 32 | ||||||||||
2019 | 33 | ||||||||||
2020 – 2023 | 233 | ||||||||||
As of June 30, 2014 and 2013, actuarial gains of approximately $182,000 and $188,000, respectively, were included, net of income taxes of $73,000 and $75,000, respectively, in accumulated other comprehensive loss. Approximately $29,000 of this amount is expected to be recognized as a component of net periodic pension cost during the year ending June 30, 2015. | |||||||||||
401(k) Savings and Profit Sharing Plan | |||||||||||
The Bank sponsors a savings and profit sharing plan, pursuant to Section 401(k) of the Internal Revenue Code (“IRC”), for all eligible employees. The plan has a profit sharing component paid annually by the Bank of 3% of each eligible employee’s compensation. Employees may also elect to defer up to 80% of their compensation, subject to IRC limitations. The Bank will match 50% of the first 6% of the employee’s salary deferral up to a maximum of 3% of each employee’s compensation. The Plan expense amounted to approximately $53,000 and $48,000 for the years ended June 30, 2014 and 2013, respectively. The Bank terminated the annual 3% profit sharing component of the plan, effective December 31, 2012, but still matches 50% of the first 6% of the employee’s salary deferral up to a maximum of 3% of each employee’s compensation. | |||||||||||
Employee Stock Ownership Plan | |||||||||||
Effective upon completion of the Company’s initial public stock offering, the Bank established an Employee Stock Ownership Plan (“ESOP”) for all eligible employees who complete a twelve-month period of employment with the Bank, have attained the age of 21 and have completed at least 1,000 hours of service in a plan year. The ESOP used $2,023,420 in proceeds from a term loan obtained from the Company to purchase 202,342 shares of Company common stock. The term loan principal is payable over 48 equal quarterly installments through December 31, 2018. The interest rate on the term loan is 8.25%. Each quarter, the Bank intends to make discretionary contributions to the ESOP, which will be equal to principal and interest payments required on the term loan. The ESOP may further pay down the loan with dividends paid, if any, on the Company common stock owned by the ESOP. | |||||||||||
Shares purchased with the loan proceeds provide collateral for the term loan and are held in a suspense account for future allocations among participants. Base compensation is the basis for allocation to participants of contributions to the ESOP and shares released from the suspense account, as described by the ESOP, in the year of allocation. | |||||||||||
ESOP shares pledged as collateral were initially recorded as unallocated ESOP shares in the consolidated statement of financial condition. On a monthly basis, 1,405 shares are allocated and compensation expense is recorded equal to the number of allocated shares multiplied by the monthly average market price of the Company’s common stock and the allocated shares become outstanding for basic earnings per common share computations. The difference between the fair value of shares and the cost of the shares allocated by the ESOP is recorded as an adjustment to paid-in capital. ESOP compensation expense was approximately $131,000 and $111,000 for the years ended June 30, 2014 and 2013, respectively. | |||||||||||
ESOP shares at June 30 are summarized as follows: | |||||||||||
2014 | 2013 | ||||||||||
Allocated shares - beginning | 109,602 | 92,741 | |||||||||
Shares allocated during the year | 16,862 | 16,861 | |||||||||
Allocated shares - ending | 126,464 | 109,602 | |||||||||
Total ESOP Shares | 202,342 | 202,342 | |||||||||
Fair value of unallocated shares | $ | 614,612 | $ | 669,576 | |||||||
Stock-Based Compensation | |||||||||||
The Company maintains the MSB Financial Corp. 2008 Stock Compensation and Incentive Plan (the “2008 Plan”). Under this plan, the Company may grant options to purchase up to 275,410 shares of Company’s common stock. At June 30, 2013, there were no shares remaining for future option grants under the plan. | |||||||||||
On May 9, 2008, options to purchase 275,410 shares of common stock at an exercise price of $10.75 per share were awarded and will expire no later than ten years following the grant date. The options granted vest over a five-year service period, with 20% of the awards vesting on each anniversary date of grant. The fair value of the options granted, as computed using the Black-Scholes option-pricing model, was determined to be $2.99 per option on the date of grant based upon the following underlying assumptions: a risk-free interest rate, expected option life, expected stock price volatility, and dividend yield of 3.33%, 6.5 years, 24.23%, and 1.11%, respectively. | |||||||||||
Management recognized compensation expense for the fair value of the options, which have graded vesting, on a straight-line basis over the requisite service period of the awards. As of May 9, 2013 all shares in the plan became vested and the Company did not record any stock option expense during the fiscal year ended June 30, 2014 compared to $137,000 in stock option expense along with a $19,000 income tax benefit recorded during the fiscal year ended June 30, 2013. | |||||||||||
A summary of stock options for the years ended June 30, 2014 and 2013 was as follows: | |||||||||||
Weighted | |||||||||||
Weighted | Average | ||||||||||
Average | Remaining | Aggregate | |||||||||
Exercise | Contractual | Intrinsic | |||||||||
Options | Price | Term | Value | ||||||||
Outstanding at June 30, 2013 | 275,410 | 10.75 | 4.8 years | — | |||||||
275,410 | 10.75 | 3.8 years | — | ||||||||
Outstanding at June 30, 2014 | |||||||||||
Exercisable at June 30, 2014 | 275,410 | 10.75 | 3.8 years | — | |||||||
Shares issued upon the exercise of stock options are planned to be issued from treasury stock. The 275,410 shares outstanding as of June 30, 2014 are fully vested. There is no unrecognized compensation expense related to these options as of June 30, 2014. | |||||||||||
On November 9, 2009, Company’s stockholders approved an amendment to the 2008 Plan to increase the number of shares of the Company’s 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. On November 24, 2009, the Company purchased 110,164 shares of its common stock at a purchase price of $932,000, which amount, was charged to paid-in capital. On December 14, 2009, the Board of Directors granted 110,164 shares of restricted stock to certain employees and directors. The restricted stock awards are to be vested over a five year period and expensed accordingly based on the fair value at the date of grant. For each of the fiscal years ended June 30, 2014 and 2013, the Company recognized approximately $180,000 in stock-based compensation expense related to restricted stock awards along with an income tax benefit of $72,000. Unrecognized compensation expense relating to unvested restricted stock awards outstanding at June 30, 2014 is $82,000. This amount will be recognized over a weighted average period of 0.5 years. | |||||||||||
The following is a summary of the activity related to the Company’s restricted stock awards for the year ended June 30, 2014: | |||||||||||
Weighted | |||||||||||
Average | |||||||||||
Restricted | Grant Date | ||||||||||
Stock | Fair Value | ||||||||||
Unvested at June 30, 2013 | 44,076 | $ | 8.15 | ||||||||
Vested | (21,584 | ) | 8.15 | ||||||||
Unvested at June 30, 2014 | 22,492 | $ | 8.15 | ||||||||
Note_13_Transactions_with_Offi
Note 13 - Transactions with Officers and Directors | 12 Months Ended |
Jun. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
Note 13 - Transactions with Officers and Directors | |
The Bank has had, and may be expected to have in the future, banking transactions in the ordinary course of business with its officers, directors, their immediate families, and affiliated companies (commonly referred to as related parties), on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with others with the exception that all employees with one year of service, directors and executive officers are offered a 50 basis point reduction for consumer loans or primary residence mortgage loans. These persons were indebted to the Bank for loans totaling $7,728,000 and $9,956,000 at June 30, 2014 and 2013, respectively. During the year ended June 30, 2014, $755,000 of new loans and $571,000 of repayments were made. In addition, one director that was placed on emeritus status and non-voting status, resulted in a $2,412,000 reduction in loan indebtness to the Bank related to him and his immediate family. | |
Note_14_Regulatory_Capital
Note 14 - Regulatory Capital | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | ||||||||||||||||||||||||
Note 14 - Regulatory Capital | |||||||||||||||||||||||||
The Bank is subject to various regulatory capital requirements administered by Federal and State banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weighting, and other factors. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of tangible, core and risk-based capital as defined in the regulations. Management believes, as of June 30, 2014 and 2013, that the Bank met all capital adequacy requirements to which it is subject. | |||||||||||||||||||||||||
As of June 30, 2014, the most recent notification from the regulators categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum core, Tier 1 risk-based and total risk-based ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the institution’s category. | |||||||||||||||||||||||||
The following table presents a reconciliation of GAAP capital and regulatory capital and information as to the Bank’s capital levels at the dates presented: | |||||||||||||||||||||||||
To be well capitalized | |||||||||||||||||||||||||
under prompt | |||||||||||||||||||||||||
For capital adequacy | corrective action | ||||||||||||||||||||||||
Actual | purposes | provisions | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
Tangible | $ | 35,862 | 10.39 | % | $ | 5,179 | >1.50 | % | N/A | N/A | |||||||||||||||
Core (leverage) | 35,862 | 10.39 | 13,812 | >4.00 | 17,264 | >5.00 | % | ||||||||||||||||||
Tier 1 risk-based | 35,862 | 17.45 | 8,221 | >4.00 | 12,331 | >6.00 | |||||||||||||||||||
Total risk-based | 38,444 | 18.71 | 16,442 | >8.00 | 20,552 | >10.00 | |||||||||||||||||||
June 30, 2013: | |||||||||||||||||||||||||
Tangible | $ | 34,651 | 9.93 | % | $ | 5,234 | >1.50 | % | N/A | N/A | |||||||||||||||
Core (leverage) | 34,651 | 9.93 | 13,958 | >4.00 | 17,447 | >5.00 | % | ||||||||||||||||||
Tier 1 risk-based | 34,651 | 16.87 | 8,216 | >4.00 | 12,324 | >6.00 | |||||||||||||||||||
Total risk-based | 37,243 | 18.13 | 16,432 | >8.00 | 20,539 | >10.00 | |||||||||||||||||||
Note_15_Commitments_and_Contin
Note 15 - Commitments and Contingencies | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments and Contingencies Disclosure [Text Block] | ' | |||||||
Note 15 - Commitments and Contingencies | ||||||||
The Bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. Such commitments involve, to varying degrees, elements of credit, and interest rate risk in excess of the amount recognized in the statements of financial condition. | ||||||||
The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. | ||||||||
At June 30, 2014 and 2013, the following financial instruments were outstanding whose contract amounts represent credit risk: | ||||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Commitments to grant loans | $ | 2,122 | $ | 7,671 | ||||
Unfunded commitments under lines of credit | 20,093 | 23,659 | ||||||
Standby letters of credit | 247 | 327 | ||||||
$ | 22,462 | $ | 31,657 | |||||
At June 30, 2014, the commitments to grant loans included a $172,000 fixed rate mortgage loan with an interest rate of 4.00%; an adjustable rate mortgage loan of $200,000 with an initial rate of 4.00% adjusting to 6.25% after 10 years and a commercial real estate loan of $1,750,000 with 10 year balloon payment based on a 20 year amortization and an initial rate of 4.00% fixed for the first five years and a variable rate based on the Wall Street Journal Prime + 1.00% for the second five years. Of the unfunded commitments under lines of credit at June 30, 2014, $16,805,706 was available under the Bank’s home equity lending program, $547,058 was available under the overdraft protection lending program and $2,740,392 was available under commercial lines of credit. Amounts outstanding under these unfunded lines have interest rates ranging from 1.00% below prime rate to 4.00% over the prime rate. | ||||||||
At June 30, 2013, commitments to grant loans included $871,342 of fixed rate mortgage loans with interest rates ranging from 3.125% to 4.50%; adjustable rate mortgage loans of $2,700,000 with an initial rate of 3.25% adjusting to 6.00% after 10 years and a $4,100,000 variable rate construction loan based on the Wall Street Journal Prime Rate + 1.00%, with a floor rate of 5.00%. Of the unfunded commitments under lines of credit at June 30, 2013, $19,398,349 was available under the Bank’s home equity lending program, $541,890 was available under the overdraft protection lending program and $3,718,882 was available under commercial lines of credit. Amounts outstanding under these unfunded lines have interest rates ranging from 1.00% below prime rate to 4.00% over the prime rate. | ||||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation. Collateral held varies but primarily includes residential and income-producing commercial real estate properties. | ||||||||
Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending other loan commitments. The Bank requires collateral supporting these letters of credit when deemed necessary. Management believes that the proceeds obtained through a liquidation of such collateral would be sufficient to cover the maximum potential amount of future payments required under the corresponding guarantees. The fair values of these obligations were immaterial as of June 30, 2014 and 2013. | ||||||||
Note_16_Fair_Value_Measurement
Note 16 - Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||
Note 16 - Fair Value Measurements | |||||||||||||||||||||
The Company uses fair value measurements to record fair value adjustments to certain assets and to determine 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 and Liabilities 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 June 30, 2014 and 2013. | |||||||||||||||||||||
Assets and Liabilities 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 tables summarize those assets measured at fair value on a non-recurring basis as of June 30, 2014 and 2013: | |||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 2,789 | $ | 2,789 | |||||||||||||
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 input assets measured at fair value on non-recurring basis as of June 30, 2014 and 2013, the significant unobservable inputs used in fair value measurements were as follows: | |||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range (Weighted | ||||||||||||||||||
Estimate | Techniques | Input | Average) | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Impaired loans | $ | 2,789 | Appraisal of Collateral | Appraisal adjustments | 0% | to | -19.40% | -1.10% | |||||||||||||
Liquidation expense | 4.20% | to | -57.9% | -7.70% | |||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range (Weighted | ||||||||||||||||||
Estimate | Techniques | Input | Average) | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Impaired loans | $ | 15,066 | Appraisal of collateral | Appraisal adjustments | 0% | to | -37.90% | -3.50% | |||||||||||||
Liquidiation expense | 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 payment 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 is carried at the lower of cost or fair value less estimated selling costs. The fair value of other real estate 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 June 30, 2014 and 2013, there was no further impairment of the other real estate owned below the cost basis established at the time the other real owned was originally recognized. Accordingly, the table above does not include other real estate owned. | |||||||||||||||||||||
Disclosure about Fair Value of Financial Instruments | |||||||||||||||||||||
The 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 June 30, 2014 and June 30, 2013, and placement in the fair value hierarchy as of June 30, 2013, of the Company’s financial instruments which are carried on the consolidated statement of financial condition at cost and are not measured or 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 | |||||||||||||||||
Amount | Value | Inputs | Inputs | Inputs | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | $ | 84,932 | $ | 83,636 | $ | — | $ | 83,636 | $ | — | |||||||||||
Loans receivable (1) | 230,275 | 230,300 | — | — | 230,300 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Certificate of deposits | 98,528 | 100,120 | — | 100,120 | — | ||||||||||||||||
Advances from Federal Home Loan Bank of New York | 38,000 | 39,281 | — | 39,281 | — | ||||||||||||||||
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 assets and liabilities 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 Bank’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 terms, including next reprice date, reprice frequency and reprice rate are factored into the discounted cash flow formula. | |||||||||||||||||||||
Federal Home Loan Bank 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 deposits, savings accounts and club accounts are, by definition, equal to the amount payable on demand at the reporting date. Fair values of fixed-maturity 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 agreement, into account market interest rates, the remaining terms, and the present credit worthiness of the counterparties. As of June 30, 2014 and 2013, the fair value of the commitments to extend credit was not considered to be material. | |||||||||||||||||||||
Note_17_Parent_Only_Financial_
Note 17 - Parent Only Financial Statements | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | ||||||||
Note 17 - Parent Only Financial Statements | |||||||||
Condensed Statements of Financial Condition | |||||||||
June 30, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Assets | |||||||||
Cash and due from banks | $ | 3,232 | $ | 2,994 | |||||
Loan receivable | 996 | 1,172 | |||||||
Investments in subsidiaries | 36,504 | 35,257 | |||||||
Other assets | 178 | 1,172 | |||||||
Total Assets | $ | 40,910 | $ | 40,595 | |||||
Liabilities | |||||||||
Other liabilities | $ | 100 | $ | 1,082 | |||||
Total liabilities | 100 | 1,082 | |||||||
Stockholders’ Equity | |||||||||
Common stock | 562 | 562 | |||||||
Paid-in capital | 24,616 | 24,473 | |||||||
Retained earnings | 21,670 | 20,682 | |||||||
Unallocated common stock held by ESOP | (759 | ) | (927 | ) | |||||
Treasury stock | (5,244 | ) | (5,244 | ) | |||||
Accumulated other comprehensive loss | (35 | ) | (33 | ) | |||||
Total Stockholders’ Equity | 40,810 | 39,513 | |||||||
Total Liabilities and Stockholders’ Equity | $ | 40,910 | $ | 40,595 | |||||
Condensed Statements of Comprehensive (Loss) Income | |||||||||
Years Ended June 30, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Equity in undistributed earnings of subsidiaries | $ | 1,118 | $ | (1,272 | ) | ||||
Interest income | 91 | 105 | |||||||
Non-interest expense | (226 | ) | (221 | ) | |||||
Income (Loss) Before Income Taxes | 983 | (1,388 | ) | ||||||
Income tax benefit | -5 | (3 | ) | ||||||
Net Income (Loss) | $ | 988 | $ | (1,385 | ) | ||||
Comprehensive Income (Loss) | $ | 986 | $ | (1,317 | ) | ||||
Condensed Statements of Cash Flows | |||||||||
Years Ended June 30, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Cash Flows from Operating Activities | |||||||||
Net income (loss) | $ | 988 | $ | (1,385 | ) | ||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||
Equity in undistributed earnings of subsidiaries | (1,118 | ) | 1,272 | ||||||
Net change in other assets and liabilities | 192 | 88 | |||||||
Net Cash Provided by (Used in) Operating Activities | 62 | (25 | ) | ||||||
Cash Flows from Investing Activities | |||||||||
Repayment of ESOP loan receivable | 176 | 162 | |||||||
Net Cash Provided by Investing Activities | 176 | 162 | |||||||
Cash Flows from Financing Activities | |||||||||
Dividends paid to minority stockholders | - | (56 | ) | ||||||
Purchase of treasury stock | - | (476 | ) | ||||||
Capital distribution to Bank | - | (1,000 | ) | ||||||
Net Cash Used in Financing Activities | - | (1,532 | ) | ||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 238 | (1,395 | ) | ||||||
Cash and Cash Equivalents - Beginning | 2,994 | 4,389 | |||||||
Cash and Cash Equivalents - Ending | $ | 3,232 | $ | 2,994 | |||||
Note_18_Quarterly_Results_of_O
Note 18 - Quarterly Results of Operations (Unaudited) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
Note 18 - Quarterly Results of Operations (Unaudited) | |||||||||||||||||
The following is a condensed summary of quarterly results of operations for the years ended June 30, 2014 and 2013: | |||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Interest income | $ | 2,965 | $ | 3,005 | $ | 3,038 | $ | 2,984 | |||||||||
Interest expense | 632 | 617 | 585 | 588 | |||||||||||||
Net Interest Income | 2,333 | 2,388 | 2,453 | 2,396 | |||||||||||||
Provision for loan losses | 150 | 150 | 150 | 150 | |||||||||||||
Net Interest Income after Provision for Loan Losses | 2,183 | 2,238 | 2,303 | 2,246 | |||||||||||||
Non-interest income | 181 | 182 | 184 | 177 | |||||||||||||
Non-interest expenses | 1,987 | 2,037 | 2,117 | 2,017 | |||||||||||||
Income before Income Taxes | 377 | 383 | 370 | 406 | |||||||||||||
Income tax expense | 129 | 132 | 127 | 160 | |||||||||||||
Net Income | $ | 248 | $ | 251 | $ | 243 | $ | 246 | |||||||||
Earnings per share: | |||||||||||||||||
Basic and diluted | $ | 0.05 | $ | 0.05 | $ | 0.05 | $ | 0.05 | |||||||||
Year Ended June 30, 2013 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
(In thousands except per share data) | |||||||||||||||||
Interest income | $ | 3,142 | $ | 3,000 | $ | 2,985 | $ | 2,905 | |||||||||
Interest expense | 727 | 689 | 648 | 657 | |||||||||||||
Net Interest Income | 2,415 | 2,311 | 2,337 | 2,248 | |||||||||||||
Provision for loan losses | 746 | 2,973 | 175 | 150 | |||||||||||||
Net Interest Income (Loss) after Provision for Loan Losses | 1,669 | (662 | ) | 2,162 | 2,098 | ||||||||||||
Non-interest income | 159 | 162 | 159 | 170 | |||||||||||||
Non-interest expenses | 2,004 | 2,122 | 2,188 | 1,975 | |||||||||||||
(Loss) Income before Income Taxes | (176 | ) | (2,622 | ) | 133 | 293 | |||||||||||
Income tax (benefit) expense | (84 | ) | (1,047 | ) | 44 | 100 | |||||||||||
Net (Loss) Income | $ | (92 | ) | $ | (1,575 | ) | $ | 89 | $ | 193 | |||||||
(Loss) Earnings per share: | |||||||||||||||||
Basic and diluted | $ | (0.02 | ) | $ | (0.32 | ) | $ | 0.02 | $ | 0.04 | |||||||
Note_19_Reclassifications_Out_
Note 19 - Reclassifications Out of Accumulated Other Comprehensive Income | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Reclassifications [Text Block] | ' | ||||||||
Note 19 – Reclassifications Out of Accumulated Other Comprehensive Income | |||||||||
Details about Accumulated | Amount Reclassified | Affected Line Item | |||||||
Other Comprehensive | from Accumulated | in the Consolidated | |||||||
Income (Loss) Components | Other Comprehensive | Statements of Comprehensive | |||||||
Income (Loss) (a) | Income (Loss) | ||||||||
Twelve Months Ended | |||||||||
30-Jun-14 | |||||||||
(In thousands) | |||||||||
Amortization of defined benefit pension items: | |||||||||
Prior service costs | $ | (4 | ) | (b) | Directors compensation | ||||
Unrecognized loss | (17 | ) | (b) | Directors compensation | |||||
Unrecognized gain | 28 | (b) | Salary and employee benefits | ||||||
7 | Total before tax | ||||||||
(3 | ) | Income tax (expense) | |||||||
Total reclassifications for the period | $ | 4 | 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 12 for additional details). | ||||||||
Note_20_Recent_Accounting_Pron
Note 20 - Recent Accounting Pronouncements | 12 Months Ended |
Jun. 30, 2014 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Accounting Changes and Error Corrections [Text Block] | ' |
Note 20 – 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 the Company’s 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 | |
In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are currently evaluating the impact of the pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017. | |
In June 2014, FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, which amends previously issued guidance on this topic. The amendments in this Update require two accounting changes. (1) repurchase-to-maturity transactions will be accounted for as secured borrowing transactions on the balance sheet, rather than sales and (2) for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with (or in contemplation of) a repurchase agreement with the same counterparty, which also will generally result in secured borrowing accounting for the repurchase agreement. This ASU also introduces new disclosures to increase transparency about the types of collateral pledged for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions that are accounted for as secured borrowings. The ASU also requires a transferor to disclose information about transactions accounted for as a sale in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets through an agreement with the transferee. For public entities, the accounting changes and disclosure for certain transactions accounted for as a sale are effective for the first interim or annual period beginning after December 15, 2014. The disclosure for transactions accounted for as secured borrowings is required for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. All entities are required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. | |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||
Jun. 30, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
Consolidation, Policy [Policy Text Block] | ' | ||||
Basis of Consolidated Financial Statement Presentation | |||||
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, the Bank and the Bank’s wholly owned subsidiary, the Service Corp. All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||
The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). 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 Bank’s market area. 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 for loan losses based on their judgments about information available to them at the time of their examinations. | |||||
The Company has evaluated events and transactions occurring subsequent to the consolidated statement of financial condition date of June 30, 2014 for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. | |||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||
Cash and Cash Equivalents | |||||
Cash and cash equivalents include cash and amounts due from depository institutions and interest-bearing deposits with banks with original maturities of three months or less. | |||||
Investment, Policy [Policy Text Block] | ' | ||||
Securities | |||||
Investments in debt securities that the Company has the positive intent and ability to hold to maturity are classified as held to maturity securities and reported at amortized cost. Debt and equity securities that are bought and held principally for the purpose of being sold in the near term are classified as trading securities and reported at fair value, with unrealized holding gains and losses included in earnings. Debt and equity securities not classified as trading securities or as held to maturity securities are classified as available for sale securities and reported at fair value, with unrealized holding gains or losses, net of applicable income taxes, reported in a separate component of stockholders’ equity. The Company had no trading or available for sale securities as of June 30, 2014 and 2013. | |||||
Individual securities are considered impaired when their fair value is less than amortized cost. Management evaluates all securities with unrealized losses quarterly to determine if such impairments are “temporary” or “other-than-temporary” in accordance with applicable accounting guidance. Accordingly, the Company accounts for temporary impairments based upon a security’s classification as trading, available for sale or held to maturity. Temporary impairments on available for sale securities are recognized, on a tax-effected basis, through other comprehensive income (loss) with offsetting entries adjusting the carrying value of the security and the balance of deferred taxes. Temporary impairments of held to maturity securities are not recognized in the consolidated financial statements; however, information concerning the amount and duration of impairments on held to maturity securities is disclosed in the notes to the consolidated financial statements. The carrying value of securities held in the trading portfolio is adjusted to fair value through earnings on a monthly basis. | |||||
Other-than-temporary impairments on securities that the Company has decided to sell or will more likely than not be required to sell prior to the full recovery of their fair value to a level equal to or exceeding amortized cost are recognized in earnings. Otherwise, the other-than-temporary impairment is bifurcated into credit-related and noncredit-related components. The credit-related impairment generally represents the amount by which the present value of the cash flows expected to be collected on a debt security falls below its amortized cost. The noncredit-related component represents the remaining portion of the impairment not otherwise designated as credit-related. Credit-related other-than-temporary impairments are recognized in earnings while noncredit-related other-than-temporary impairments are recognized, net of deferred taxes, in other comprehensive income (loss). | |||||
The Company reviews its investment portfolio on a quarterly basis for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value of a security has been lower than the cost, and the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer. The Company also assesses its intent with regard to selling or holding each security as well as any conditions which may require the sale of security prior to the recovery of fair value to a level which equals or exceeds amortized cost. | |||||
Discounts and premiums on securities are accreted/amortized to maturity by use of the level-yield method. Gain or loss on sales of securities is based on the specific identification method. | |||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||||
Concentration of Risk | |||||
The Bank’s lending activities are concentrated in loans secured by real estate located in the State of New Jersey. | |||||
Loans and Leases Receivable, Lease Financing, Policy [Policy Text Block] | ' | ||||
Loans Receivable | |||||
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 when 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. | |||||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ' | ||||
Allowance for Credit Losses | |||||
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 no later 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, the 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 Company’s allowance for loan losses. Such agencies may require the Company 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 allow 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 of 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 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 Financing Receivable, Policy [Policy Text Block] | ' | ||||
Impaired Loans | |||||
Management evaluates individual loans in all of the loan segments (including loans in the 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 whose terms 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 below market rate given the associated credit risk, or an extension of a loan’s stated maturity date or capitalization of interest and/or escrow. Nonaccrual 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, is 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. | |||||
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block] | ' | ||||
Other Real Estate Owned | |||||
Other real estate owned represents real estate acquired through formal foreclosure or by taking possession of the real estate and is initially recorded at the lower of cost or fair value, less estimated selling costs establishing a new cost basis. Write-downs required at the time of acquisition are charged to the allowance for loan losses establishing a new cost basis. Thereafter, the Company maintains an allowance for decreases in the properties’ estimated fair value, through charges to earnings. Such charges are included in other non-interest expense along with any additional property maintenance. | |||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||
Premises and Equipment | |||||
Premises and equipment are comprised of land, at cost, and buildings, building improvements, furnishings and equipment and leasehold improvements, at cost, less accumulated depreciation and amortization. Depreciation and amortization charges are computed on the straight-line method over the following estimated useful lives: | |||||
Years | |||||
Building and improvements | May-50 | ||||
Furnishings and equipment | 3 – 7 | ||||
Leasehold improvements | Shorter of useful life or term of lease | ||||
Significant renewals and betterments are capitalized to the premises and equipment account. Maintenance and repairs are charged to operations in the year incurred. Rental income is netted against occupancy costs in the consolidated statements of income. | |||||
Securities Owned Not Readily Marketable, Policy [Policy Text Block] | ' | ||||
Federal Home Loan Bank Stock | |||||
Federal law requires a member institution of the Federal Home Loan Bank (“FHLB”) system to hold restricted stock of its district’s FHLB according to a predetermined formula based on advances available and outstanding. The restricted stock is carried at cost. Management’s determination of whether these shares are impaired is based on an assessment of the ultimate recoverability of its cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as (1) the significance of the decline in net assets of the FHLB as compared to the capital stock amount for the FHLB and the length of time this situation has persisted, (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB, and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLB. | |||||
Management believes no impairment charge was necessary related to the FHLB restricted stock during fiscal years 2014 or 2013. | |||||
Policyholder Accounts, Policy [Policy Text Block] | ' | ||||
Bank Owned Life Insurance | |||||
Bank owned life insurance is carried at net cash surrender value. The change in the net cash surrender value is recorded as a component of non-interest income. | |||||
Pension and Other Postretirement Plans, Pensions, Policy [Policy Text Block] | ' | ||||
Defined Benefit Plans | |||||
In accordance with applicable guidance prescribed in FASB ASC 715, “Compensation – Retirement Benefits”, the Company recognizes the over-funded or under-funded status of a defined benefit postretirement plan as an asset or liability in the consolidated statement of financial condition, with changes in the funded status recorded through other comprehensive income (loss) in the year in which those changes occur. The funded status of the plan is calculated using actuarial concepts which involve making assumptions regarding discount rate, mortality, expected rate of compensation increases and others. | |||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||
Stock-based Compensation Plans | |||||
In accordance with FASB ASC 718, “Compensation – Stock Compensation”, the Company recognizes compensation expense for the total of the fair value of all share-based compensation awards granted over the requisite service periods. In addition, ASC 718 requires that cash flow activity be reported on a financing | |||||
rather than an operating cash flow basis for the benefits, if any, of realized tax deductions in excess of previously recognized tax benefits on compensation expense. | |||||
Advertising Costs, Policy [Policy Text Block] | ' | ||||
Advertising | |||||
The Company expenses advertising and marketing costs as incurred. | |||||
Income Tax, Policy [Policy Text Block] | ' | ||||
Income Taxes Expense (Benefit) | |||||
The Company and its subsidiaries file a consolidated federal income tax return with the MHC. Federal income taxes are allocated based on the contribution of their respective income or loss to the consolidated income tax return. Separate state income tax returns are filed. | |||||
Federal and state income taxes have been provided in these consolidated financial statements on the basis of reported income (loss). The amounts reflected on the income tax returns differ from these provisions due principally to temporary differences in the reporting of certain items of income and expense for financial reporting and income tax reporting purposes. Deferred income taxes are recorded to recognize such temporary differences. | |||||
The Company follows the provisions of FASB ASC 740, “Income Taxes”, formerly FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes (“FIN48”). ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provides guidance on derecognizing, classification, interest and penalties, accounting in interim periods, disclosure and transition. As a result of the Company’s evaluation under ASC 740, no significant income tax uncertainties have been identified. Therefore, the Company recognized no adjustment for unrecognized income tax benefits for the years ended June 30, 2014 and 2013. The Company’s policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense in the consolidated statement of income (loss). The Company did not recognize any interest and penalties for the years ended June 30, 2014 and 2013. The tax years subject to examination by the taxing authorities are the years ended June 30, 2013, 2012, and 2011. | |||||
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | ' | ||||
Off-Balance Sheet Credit-Related Financial Instruments | |||||
In the ordinary course of business, the Company enters into commitments to extend credit, including commitments under lines of credit. Such financial instruments are recorded when they are funded. | |||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||
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, exclusive of the Employee Stock Ownership Plan (“ESOP”) shares not yet committed to be released. Diluted earnings 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 (loss) per share for the years ended June 30, 2014 and 2013, as the 275,410 weighted average number of outstanding stock options for the years ended June 30, 2014 and 2013, were all anti-dilutive and the Company incurred a net loss during 2013. | |||||
Comprehensive Income, Policy [Policy Text Block] | ' | ||||
Other Comprehensive Income (Loss) | |||||
Other comprehensive income (loss) includes benefit plans amounts recognized under ASC 715, “Compensation-Retirement Benefits”. This item of other comprehensive income (loss) reflects, net of tax, prior service costs and unrealized net losses that had not been recognized in the consolidated financial statements prior to the implementation of ASC 715 along with actuarial losses arising during the current period. | |||||
Interest Expense, Policy [Policy Text Block] | ' | ||||
Interest Rate Risk | |||||
The Bank is principally engaged in the business of attracting deposits from the general public and using these deposits, together with other funds, to purchase securities and to make loans primarily secured by real estate. The potential for interest-rate risk exists as a result of the generally shorter duration of the Bank’s interest-sensitive liabilities compared to the generally longer duration of its interest-sensitive assets. In a rising rate environment, liabilities will generally reprice faster than assets, thereby reducing net interest income. For this reason, management regularly monitors the maturity structure of the Bank’s assets and liabilities in order to measure its level of interest-rate risk and to plan for future volatility. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||
Jun. 30, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
Schedule of Estimated Useful Lives [Table Text Block] | ' | ||||
Years | |||||
Building and improvements | May-50 | ||||
Furnishings and equipment | 3 – 7 | ||||
Leasehold improvements | Shorter of useful life or term of lease |
Note_4_Securities_Held_to_Matu1
Note 4 - Securities Held to Maturity (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Investment Holdings [Text Block] [Abstract] | ' | ||||||||||||||||||||||||
Unrealized Gain (Loss) on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 49,177 | $ | 49 | $ | 1,551 | $ | 47,675 | |||||||||||||||||
Mortgage-backed securities | 26,089 | 464 | 338 | 26,215 | |||||||||||||||||||||
Corporate bonds | 4,630 | 56 | 5 | 4,681 | |||||||||||||||||||||
Certificates of deposits | 5,036 | 30 | 1 | 5,065 | |||||||||||||||||||||
$ | 84,932 | $ | 599 | $ | 1,895 | $ | 83,636 | ||||||||||||||||||
June 30, 2013: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 46,194 | $ | 84 | $ | 2,131 | $ | 44,147 | |||||||||||||||||
Mortgage-backed securities | 24,768 | 297 | 754 | 24,311 | |||||||||||||||||||||
Corporate bonds | 4,669 | 15 | 72 | 4,612 | |||||||||||||||||||||
Certificates of deposits | 5,281 | 17 | 1 | 5,297 | |||||||||||||||||||||
$ | 80,912 | $ | 413 | $ | 2,958 | $ | 78,367 | ||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||
Amortized Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. Government agencies: | |||||||||||||||||||||||||
Due after one year through five years | $ | 23,000 | $ | 22,497 | |||||||||||||||||||||
Due after five years through ten years | 12,177 | 11,835 | |||||||||||||||||||||||
Due thereafter | 14,000 | 13,343 | |||||||||||||||||||||||
49,177 | 47, 675 | ||||||||||||||||||||||||
Mortgage-backed securities | 26,089 | 26,215 | |||||||||||||||||||||||
Corporate Bonds | |||||||||||||||||||||||||
Due after one year through five years | 4,630 | 4,681 | |||||||||||||||||||||||
Certificates of Deposits | |||||||||||||||||||||||||
Due within one year | 1,425 | 1,427 | |||||||||||||||||||||||
Due after one year through five years | 3,611 | 3,638 | |||||||||||||||||||||||
5,036 | 5,065 | ||||||||||||||||||||||||
$ | 84,932 | $ | 83,636 | ||||||||||||||||||||||
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) | |||||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
U.S. Government | $ | 36,339 | $ | 1,341 | $ | 6,290 | $ | 210 | $ | 42,629 | $ | 1,551 | |||||||||||||
agencies | |||||||||||||||||||||||||
Mortgage-backed securities | 17,022 | 325 | 816 | 13 | 17,838 | 338 | |||||||||||||||||||
Corporate bonds | 1,031 | 5 | — | — | 1,031 | 5 | |||||||||||||||||||
Certificates of deposits | 489 | 1 | — | — | 489 | 1 | |||||||||||||||||||
$ | 54,881 | $ | 1,672 | $ | 7,106 | $ | 223 | $ | 61,987 | $ | 1,895 | ||||||||||||||
June 30, 2013: | |||||||||||||||||||||||||
U.S. Government | $ | 42,048 | $ | 2,131 | $ | — | $ | — | $ | 42,048 | $ | 2,131 | |||||||||||||
agencies | |||||||||||||||||||||||||
Mortgage-backed securities | 18,401 | 754 | — | — | 18,401 | 754 | |||||||||||||||||||
Corporate bonds | 2,980 | 72 | — | — | 2,980 | 72 | |||||||||||||||||||
Certificates of deposits | 246 | 1 | — | — | 246 | 1 | |||||||||||||||||||
$ | 63,675 | $ | 2,958 | $ | — | $ | — | $ | 63,675 | $ | 2,958 |
Note_5_Loans_Receivable_and_Al1
Note 5 - Loans Receivable and Allowance for Credit Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||
Note 5 - Loans Receivable and Allowance for Credit Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 143,283 | $ | 136,704 | |||||||||||||||||||||||||||||
Home equity | 38,484 | 40,682 | |||||||||||||||||||||||||||||||
181,767 | 177,386 | ||||||||||||||||||||||||||||||||
Commercial real estate | 32,036 | 32,171 | |||||||||||||||||||||||||||||||
Construction | 12,517 | 8,895 | |||||||||||||||||||||||||||||||
Commercial and industrial | 9,666 | 9,267 | |||||||||||||||||||||||||||||||
54,219 | 50,333 | ||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Deposit accounts | 602 | 611 | |||||||||||||||||||||||||||||||
Automobile | 33 | 111 | |||||||||||||||||||||||||||||||
Personal | 36 | 32 | |||||||||||||||||||||||||||||||
Overdraft protection | 161 | 175 | |||||||||||||||||||||||||||||||
832 | 929 | ||||||||||||||||||||||||||||||||
Total Loans Receivable | 236,818 | 228,648 | |||||||||||||||||||||||||||||||
Loans in process | (2,491 | ) | (745 | ) | |||||||||||||||||||||||||||||
Deferred loan fees | (366 | ) | (377 | ) | |||||||||||||||||||||||||||||
$ | 233,961 | $ | 227,526 | ||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
30-Jun-14 | Year Ended | ||||||||||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 15,975 | $ | 16,667 | $ | - | $ | 14,982 | $ | 620 | |||||||||||||||||||||||
Home equity | 1,740 | 1,756 | - | 2,019 | 41 | ||||||||||||||||||||||||||||
Commercial real estate | 1,973 | 2,431 | - | 1,404 | 76 | ||||||||||||||||||||||||||||
Construction | 1,707 | 1,936 | - | 1,365 | 97 | ||||||||||||||||||||||||||||
One-to-four family owner-occupied | |||||||||||||||||||||||||||||||||
Other | 750 | 750 | - | 920 | 36 | ||||||||||||||||||||||||||||
Commercial and industrial | 648 | 1,187 | - | 813 | 36 | ||||||||||||||||||||||||||||
22,793 | 24,727 | - | 21,503 | 906 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | - | - | - | 632 | - | ||||||||||||||||||||||||||||
Home equity | - | - | - | 294 | - | ||||||||||||||||||||||||||||
Commercial real estate | - | - | - | 752 | - | ||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner-occupied | - | - | - | 341 | - | ||||||||||||||||||||||||||||
Other | 137 | 138 | 73 | 110 | 3 | ||||||||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | ||||||||||||||||||||||||||||
137 | 138 | 73 | 2,129 | 3 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 15,975 | 16,667 | - | 15,614 | 620 | ||||||||||||||||||||||||||||
Home equity | 1,740 | 1,756 | - | 2,313 | 41 | ||||||||||||||||||||||||||||
Commercial real estate | 1,973 | 2,431 | - | 2,156 | 76 | ||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner-occupied | 1,707 | 1,936 | - | 1,706 | 97 | ||||||||||||||||||||||||||||
Other | 887 | 888 | 73 | 1,030 | 39 | ||||||||||||||||||||||||||||
Commercial and industrial | 648 | 1,187 | - | 813 | 36 | ||||||||||||||||||||||||||||
$ | 22,930 | $ | 24,865 | $ | 73 | $ | 23,632 | $ | 909 | ||||||||||||||||||||||||
30-Jun-13 | Year Ended | ||||||||||||||||||||||||||||||||
30-Jun-13 | |||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | $ | 13,817 | $ | 14,747 | $ | - | $ | 11,978 | $ | 437 | |||||||||||||||||||||||
Home equity | 3,376 | 3,406 | - | 3,399 | 127 | ||||||||||||||||||||||||||||
Commercial real estate | 1,796 | 1,867 | - | 1,742 | 65 | ||||||||||||||||||||||||||||
Construction | - | - | - | 387 | - | ||||||||||||||||||||||||||||
One-to-four family occupied | |||||||||||||||||||||||||||||||||
Other | 1,601 | 1,510 | 671 | 16 | |||||||||||||||||||||||||||||
Commercial and industrial | 750 | 1,103 | - | 536 | 29 | ||||||||||||||||||||||||||||
21,340 | 22,633 | - | 18,713 | 674 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 1,469 | 1,720 | 58 | 3,219 | 34 | ||||||||||||||||||||||||||||
Home equity | 891 | 1,214 | 233 | 737 | 7 | ||||||||||||||||||||||||||||
Commercial real estate | 1,444 | 1,804 | 88 | 1,512 | 17 | ||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 1,936 | 23 | 1,230 | 87 | ||||||||||||||||||||||||||||
Other | - | - | - | 646 | - | ||||||||||||||||||||||||||||
Commercial and industrial | 150 | 100 | 31 | 449 | 5 | ||||||||||||||||||||||||||||
5,661 | 6,774 | 433 | 7,793 | 150 | |||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 15,286 | 16,467 | 58 | 15,197 | 471 | ||||||||||||||||||||||||||||
Home equity | 4,267 | 4,620 | 233 | 4,136 | 134 | ||||||||||||||||||||||||||||
Commercial real estate | 3,240 | 3,671 | 88 | 3,254 | 82 | ||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family occupied | 1,707 | 1,936 | 23 | 1,617 | 87 | ||||||||||||||||||||||||||||
Other | 1,601 | 1,510 | - | 1,317 | 16 | ||||||||||||||||||||||||||||
Commercial and industrial | 900 | 1,203 | 31 | 985 | 34 | ||||||||||||||||||||||||||||
$ | 27,001 | $ | 29,407 | $ | 433 | $ | 26,506 | $ | 824 | ||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
As of June 30, 2014 | Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 27,280 | $ | 3,062 | $ | 1,621 | $ | - | $ | - | $ | 31,963 | |||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family owner-occupied | 850 | - | 1,707 | - | - | 2,557 | |||||||||||||||||||||||||||
Other | 6,851 | 445 | 64 | - | 73 | 7,433 | |||||||||||||||||||||||||||
Commercial and industrial | 8,769 | 105 | 778 | - | - | 9.652 | |||||||||||||||||||||||||||
Total | $ | 43,750 | $ | 3,612 | $ | 4,170 | $ | - | $ | 73 | $ | 51,605 | |||||||||||||||||||||
As of June 30, 2013 | Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
(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 June 30, 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 | $ | 2,496 | 1,381 | 2,185 | 6,062 | $ | 137,048 | $ | 143,110 | $ | 4,346 | $ | 310 | ||||||||||||||||||||
Home equity | 32 | 125 | 1,207 | 1,364 | 37,049 | 38,413 | 1,586 | 51 | |||||||||||||||||||||||||
Commercial real estate | - | - | 1,248 | 1,248 | 30,715 | 31,963 | 1,248 | - | |||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
One-to-four family | - | - | - | - | 2,557 | 2,557 | - | - | |||||||||||||||||||||||||
owner-occupied | |||||||||||||||||||||||||||||||||
Other | - | - | - | - | 7,433 | 7,433 | 137 | - | |||||||||||||||||||||||||
Commercial and industrial | 9 | - | 170 | 179 | 9,473 | 9,652 | 635 | - | |||||||||||||||||||||||||
Consumer | 4 | - | - | 4 | 829 | 833 | - | - | |||||||||||||||||||||||||
Total | $ | 2,541 | $ | 1,506 | $ | 4,810 | $ | 8,857 | $ | 225,104 | $ | 233,961 | $ | 7,952 | $ | 361 | |||||||||||||||||
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 | - | - | - | - | 4,552 | 4,552 | - | - | |||||||||||||||||||||||||
owner-occupied | |||||||||||||||||||||||||||||||||
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 June 30, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Commercial | Consumer | Total | ||||||||||||||||||||||||||||
Mortgage | Real Estate | and | |||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan | |||||||||||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,183 | $ | 860 | $ | 379 | $ | 256 | $ | 8 | $ | 3,686 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | - | $ | 73 | $ | - | $ | - | $ | 73 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,183 | $ | 860 | $ | 306 | $ | 256 | $ | 8 | $ | 3,613 | |||||||||||||||||||||
Loans receivables: | |||||||||||||||||||||||||||||||||
Ending balance | $ | 181,524 | $ | 31,963 | $ | 9,990 | $ | 9,652 | $ | 832 | $ | 233,961 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 17,715 | $ | 1,973 | $ | 2,594 | $ | 648 | $ | - | $ | 22,930 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 163,809 | $ | 29,990 | $ | 7,396 | $ | 9,004 | $ | 832 | $ | 211,031 | |||||||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Real Estate | and | |||||||||||||||||||||||||||||||
Industrial | |||||||||||||||||||||||||||||||||
Allowance for loan | (In thousands) | ||||||||||||||||||||||||||||||||
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] | ' | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
((Dollars in thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 2 | $ | 1,054 | $ | 1,071 | ||||||||||||||||||||||||||||
Total | 2 | $ | 1,054 | $ | 1,071 | ||||||||||||||||||||||||||||
Year Ended June 30, 2013 | |||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 10 | $ | 3,625 | $ | 3,582 | ||||||||||||||||||||||||||||
Commercial real estate | 3 | 1,119 | 1.063 | ||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Other | 1 | 1,150 | 987 | ||||||||||||||||||||||||||||||
Commercial and industrial | 4 | 214 | 214 | ||||||||||||||||||||||||||||||
Total | 18 | $ | 6,108 | $ | 5,846 | ||||||||||||||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
Commercial real estate | 1 | $ | 409 | $ | 409 | ||||||||||||||||||||||||||||
Commercial and industrial | 2 | 23 | 68 | ||||||||||||||||||||||||||||||
Total | 3 | $ | 432 | $ | 477 | ||||||||||||||||||||||||||||
Year Ended June 30, 2013 | |||||||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Residential Mortgage | |||||||||||||||||||||||||||||||||
One-to-four family | 1 | $ | 156 | $ | 127 | ||||||||||||||||||||||||||||
Total | 1 | $ | 156 | $ | 127 | ||||||||||||||||||||||||||||
Additional Information [Member] | ' | ||||||||||||||||||||||||||||||||
Note 5 - Loans Receivable and Allowance for Credit Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial and | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Industrial | ||||||||||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Balance, beginning | $ | 3,036 | $ | 706 | $ | 238 | $ | 276 | $ | 11 | $ | 3 | $ | 4,270 | |||||||||||||||||||
Provisions | (351 | ) | 494 | 246 | 208 | 6 | (3 | ) | 600 | ||||||||||||||||||||||||
Loans charged-off | (537 | ) | (340 | ) | (119 | ) | (236 | ) | (9 | ) | - | (1,241 | ) | ||||||||||||||||||||
Recoveries | 35 | - | 14 | 8 | - | - | 57 | ||||||||||||||||||||||||||
Balance, ending | $ | 2,183 | $ | 860 | $ | 379 | $ | 256 | $ | 8 | $ | - | $ | 3,686 | |||||||||||||||||||
Year Ended June 30, 2013 | |||||||||||||||||||||||||||||||||
Residential | Commercial Real Estate | Construction | Commercial and | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
Mortgage | Industrial | ||||||||||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Balance, beginning | $ | 1,808 | $ | 445 | $ | 527 | $ | 272 | $ | 13 | $ | - | $ | 3,065 | |||||||||||||||||||
Provisions | 3,039 | 609 | 44 | 346 | 3 | 3 | 4,044 | ||||||||||||||||||||||||||
Loans charged-off | (1,867 | ) | (348 | ) | (333 | ) | (342 | ) | (5 | ) | - | (2,895 | ) | ||||||||||||||||||||
Recoveries | 56 | - | - | - | - | - | 56 | ||||||||||||||||||||||||||
Balance, ending | $ | 3,036 | $ | 706 | $ | 238 | $ | 276 | $ | 11 | $ | 3 | $ | 4,270 |
Note_6_Premises_and_Equipment_
Note 6 - Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Land | $ | 1,937 | $ | 1,937 | |||||
Buildings and improvements | 8,477 | 8,469 | |||||||
Leasehold improvements | 1,767 | 1,787 | |||||||
Furnishings and equipment | 1,835 | 1,887 | |||||||
Assets being developed for future use | 15 | 3 | |||||||
14,031 | 14,083 | ||||||||
Accumulated depreciation and amortization | (5,545 | ) | (5,201 | ) | |||||
$ | 8,486 | $ | 8,882 |
Note_7_Accrued_Interest_Receiv1
Note 7 - Accrued Interest Receivable (Tables) | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Accrued Interest Receivable Disclosure [Text Block] [Abstract] | ' | ||||||||
Interest and Other Income [Table Text Block] | ' | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Loans | $ | 886 | $ | 847 | |||||
Securities held to maturity | 432 | 382 | |||||||
$ | 1,318 | $ | 1,229 |
Note_8_Deposits_Tables
Note 8 - Deposits (Tables) | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Disclosure Text Block [Abstract] | ' | |||||||||||
Schedule Of Deposit Liabilities [Table Text Block] | ' | |||||||||||
2014 | 2013 | |||||||||||
Amount | Average | Amount | Average | |||||||||
Rate | Rate | |||||||||||
(Dollars in thousands) | ||||||||||||
Non-interest bearing demand | $ | 22,206 | — | % | $ | 18,559 | — | % | ||||
NOW | 31,899 | 0.15 | 31,973 | 0.14 | ||||||||
Super NOW | 4,791 | 0.2 | 3,991 | 0.2 | ||||||||
Savings and club | 102,241 | 0.21 | 112,385 | 0.21 | ||||||||
Money market demand | 3,724 | 0.23 | 3,611 | 0.23 | ||||||||
Certificates of deposit | 98,528 | 1.32 | 109,948 | 1.4 | ||||||||
$ | 263,389 | 0.6 | % | $ | 280,467 | 0.65 | % | |||||
Certificates Of Deposit By Maturity [Table Text Block] | ' | |||||||||||
Year ended June 30: | ||||||||||||
2015 | $ | 62,142 | ||||||||||
2016 | 19,058 | |||||||||||
2017 | 9,154 | |||||||||||
2018 | 3,515 | |||||||||||
2019 | 2,527 | |||||||||||
Thereafter | 2,132 | |||||||||||
$ | 98,528 | |||||||||||
Interest Expense By Deposit Type [Table Text Block] | ' | |||||||||||
2014 | 2013 | |||||||||||
(In thousands) | ||||||||||||
NOW, super NOW and money market demand | $ | 50 | $ | 51 | ||||||||
Savings and club | 233 | 251 | ||||||||||
Certificates of deposit | 1,372 | 1,705 | ||||||||||
$ | 1,655 | $ | 2,007 |
Note_9_Borrowings_Tables
Note 9 - Borrowings (Tables) | 12 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Subordinated Borrowings [Abstract] | ' | ||||||||||||||
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | ' | ||||||||||||||
Maturity | Fixed | 2014 | 2013 | ||||||||||||
Interest | |||||||||||||||
Rate | |||||||||||||||
(in thousands) | |||||||||||||||
25-Feb-16 | 0.78 | % | $ | 5,000 | $ | 5,000 | |||||||||
7-Mar-16 | 0.78 | 5,000 | 5,000 | ||||||||||||
27-Nov-17 | 3.272 | 10,000 | 10,000 | ||||||||||||
5-Mar-18 | 3.46 | 10,000 | 10,000 | ||||||||||||
2.504 | % | $ | 30,000 | $ | 30,000 |
Note_10_Lease_Commitments_and_1
Note 10 - Lease Commitments and Total Rental Expense (Tables) | 12 Months Ended | |||||
Jun. 30, 2014 | ||||||
Leases [Abstract] | ' | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||||
Year Ended June 30: | ||||||
2015 | $ | 415 | ||||
2016 | 415 | |||||
2017 | 431 | |||||
2018 | 333 | |||||
2019 | 263 | |||||
Thereafter | 307 | |||||
$ | 2,164 |
Note_11_Income_Taxes_Tables
Note 11 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Current income tax expense (benefit): | |||||||||||||
Federal | $ | 7 | $ | (394 | ) | ||||||||
State | 93 | (99 | ) | ||||||||||
100 | (493 | ) | |||||||||||
Deferred income tax expense (benefi)t: | |||||||||||||
Federal | 408 | (384 | ) | ||||||||||
State | 40 | (110 | ) | ||||||||||
448 | (494 | ) | |||||||||||
$ | 548 | $ | (987 | ) | |||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
2014 | 2013 | ||||||||||||
Amount | % of | Amount | % of | ||||||||||
Pretax | Pretax | ||||||||||||
Income | Income | ||||||||||||
(Dollars in thousands) | |||||||||||||
Federal income tax at statutory rate | $ | 522 | 34 | % | $ | (807 | ) | 34 | % | ||||
State tax, net of federal benefit | 88 | 5.8 | (138 | ) | 5.8 | ||||||||
Bank Owned Life Insurance | (74 | ) | (4.8 | ) | (69 | ) | 2.9 | ||||||
Stock options | (19 | ) | (1.3 | ) | 57 | (2.4 | ) | ||||||
Other | 31 | 2 | (30 | ) | 1.3 | ||||||||
$ | 548 | 35.7 | % | $ | (987 | ) | 41.6 | % | |||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Allowances for losses on loans and commitments | $ | 1,484 | $ | 1,717 | |||||||||
Uncollected interest | 142 | 425 | |||||||||||
Benefit plans | 1,007 | 962 | |||||||||||
Restricted stock award | 72 | 72 | |||||||||||
Other | 63 | 56 | |||||||||||
2,768 | 3,232 | ||||||||||||
Deferred tax liabilities | |||||||||||||
Depreciation | (148 | ) | (166 | ) | |||||||||
Net deferred tax asset | $ | 2,620 | $ | 3,066 |
Note_12_Benefit_Plans_Tables
Note 12 - Benefit Plans (Tables) | 12 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block] | ' | ||||||||||
2014 | 2013 | ||||||||||
(Dollars in thousands) | |||||||||||
Accumulated benefit obligation – ending | $ | 1,356 | $ | 1,231 | |||||||
Projected benefit obligation – beginning | $ | 1,380 | $ | 1,340 | |||||||
Service cost | 22 | 17 | |||||||||
Interest cost | 67 | 56 | |||||||||
Actuarial loss | 19 | (10 | ) | ||||||||
Benefit payments | (34 | ) | (23 | ) | |||||||
Projected benefit obligation – ending | $ | 1,454 | $ | 1,380 | |||||||
Plan assets at fair value – beginning | $ | — | $ | — | |||||||
Employer contribution | 34 | 23 | |||||||||
Benefit payments | (34 | ) | (23 | ) | |||||||
Plan assets at fair value – ending | $ | — | $ | — | |||||||
Funded status at end of year (included in other liabilities) | $ | 1,454 | $ | 1,380 | |||||||
Assumptions: | |||||||||||
Discount rate | 4.5 | % | 5 | % | |||||||
Rate of compensation increase | 3 | % | 3 | % | |||||||
2014 | 2013 | ||||||||||
(Dollars in thousands) | |||||||||||
Accumulated benefit obligation – ending | $ | 459 | $ | 442 | |||||||
Projected benefit obligation – beginning | $ | 442 | $ | 472 | |||||||
Service cost | 39 | 47 | |||||||||
Interest cost | 22 | 20 | |||||||||
Actuarial gain | (22 | ) | (76 | ) | |||||||
Benefits paid | (22 | ) | (21 | ) | |||||||
Projected benefit obligation and funded status – ending (included in other liabilities) | $ | 459 | $ | 442 | |||||||
Assumption: | |||||||||||
Discount rate | 4.5 | % | 5 | % | |||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||
2014 | 2013 | ||||||||||
(Dollars in thousands) | |||||||||||
Service cost | $ | 22 | $ | 17 | |||||||
Interest cost | 67 | 56 | |||||||||
Amortization of unrecognized loss | 17 | 33 | |||||||||
Amortization of unrecognized past service liability | 4 | 11 | |||||||||
Net periodic pension cost | $ | 110 | $ | 117 | |||||||
Assumptions: | |||||||||||
Discount rate | 5 | % | 4.25 | % | |||||||
Rate of compensation | 3 | % | 3 | % | |||||||
2014 | 2013 | ||||||||||
(Dollars in thousands) | |||||||||||
Service cost | $ | 39 | $ | 47 | |||||||
Interest cost | 22 | 20 | |||||||||
Amortization of unrecognized gain | (28 | ) | (16 | ) | |||||||
Net periodic pension cost | $ | 33 | $ | 51 | |||||||
Assumption: | |||||||||||
Discount rate | 5 | % | 4.25 | % | |||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | ||||||||||
2015 | $ | 69 | |||||||||
2016 | 96 | ||||||||||
2017 | 103 | ||||||||||
2018 | 110 | ||||||||||
2019 | 130 | ||||||||||
2020 – 2023 | 742 | ||||||||||
2015 | $ | 31 | |||||||||
2016 | 31 | ||||||||||
2017 | 32 | ||||||||||
2018 | 32 | ||||||||||
2019 | 33 | ||||||||||
2020 – 2023 | 233 | ||||||||||
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | ' | ||||||||||
2014 | 2013 | ||||||||||
Allocated shares - beginning | 109,602 | 92,741 | |||||||||
Shares allocated during the year | 16,862 | 16,861 | |||||||||
Allocated shares - ending | 126,464 | 109,602 | |||||||||
Total ESOP Shares | 202,342 | 202,342 | |||||||||
Fair value of unallocated shares | $ | 614,612 | $ | 669,576 | |||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||
Weighted | |||||||||||
Weighted | Average | ||||||||||
Average | Remaining | Aggregate | |||||||||
Exercise | Contractual | Intrinsic | |||||||||
Options | Price | Term | Value | ||||||||
Outstanding at June 30, 2013 | 275,410 | 10.75 | 4.8 years | — | |||||||
275,410 | 10.75 | 3.8 years | — | ||||||||
Outstanding at June 30, 2014 | |||||||||||
Exercisable at June 30, 2014 | 275,410 | 10.75 | 3.8 years | — | |||||||
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block] | ' | ||||||||||
Weighted | |||||||||||
Average | |||||||||||
Restricted | Grant Date | ||||||||||
Stock | Fair Value | ||||||||||
Unvested at June 30, 2013 | 44,076 | $ | 8.15 | ||||||||
Vested | (21,584 | ) | 8.15 | ||||||||
Unvested at June 30, 2014 | 22,492 | $ | 8.15 |
Note_14_Regulatory_Capital_Tab
Note 14 - Regulatory Capital (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | ||||||||||||||||||||||||
To be well capitalized | |||||||||||||||||||||||||
under prompt | |||||||||||||||||||||||||
For capital adequacy | corrective action | ||||||||||||||||||||||||
Actual | purposes | provisions | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
Tangible | $ | 35,862 | 10.39 | % | $ | 5,179 | >1.50 | % | N/A | N/A | |||||||||||||||
Core (leverage) | 35,862 | 10.39 | 13,812 | >4.00 | 17,264 | >5.00 | % | ||||||||||||||||||
Tier 1 risk-based | 35,862 | 17.45 | 8,221 | >4.00 | 12,331 | >6.00 | |||||||||||||||||||
Total risk-based | 38,444 | 18.71 | 16,442 | >8.00 | 20,552 | >10.00 | |||||||||||||||||||
June 30, 2013: | |||||||||||||||||||||||||
Tangible | $ | 34,651 | 9.93 | % | $ | 5,234 | >1.50 | % | N/A | N/A | |||||||||||||||
Core (leverage) | 34,651 | 9.93 | 13,958 | >4.00 | 17,447 | >5.00 | % | ||||||||||||||||||
Tier 1 risk-based | 34,651 | 16.87 | 8,216 | >4.00 | 12,324 | >6.00 | |||||||||||||||||||
Total risk-based | 37,243 | 18.13 | 16,432 | >8.00 | 20,539 | >10.00 |
Note_15_Commitments_and_Contin1
Note 15 - Commitments and Contingencies (Tables) | 12 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Schedule Of Financial Instruments Whose Contract Amounts Represent Credit Risk [Table Text Block] | ' | |||||||
2014 | 2013 | |||||||
(In thousands) | ||||||||
Commitments to grant loans | $ | 2,122 | $ | 7,671 | ||||
Unfunded commitments under lines of credit | 20,093 | 23,659 | ||||||
Standby letters of credit | 247 | 327 | ||||||
$ | 22,462 | $ | 31,657 |
Note_16_Fair_Value_Measurement1
Note 16 - Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | ||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 2,789 | $ | 2,789 | |||||||||||||
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, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | ' | ||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range (Weighted | ||||||||||||||||||
Estimate | Techniques | Input | Average) | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Impaired loans | $ | 2,789 | Appraisal of Collateral | Appraisal adjustments | 0% | to | -19.40% | -1.10% | |||||||||||||
Liquidation expense | 4.20% | to | -57.9% | -7.70% | |||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range (Weighted | ||||||||||||||||||
Estimate | Techniques | Input | Average) | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Impaired loans | $ | 15,066 | Appraisal of collateral | Appraisal adjustments | 0% | to | -37.90% | -3.50% | |||||||||||||
Liquidiation expense | 0.11% | to | -27.40% | -7.90% | |||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Value | Inputs | Inputs | Inputs | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | $ | 84,932 | $ | 83,636 | $ | — | $ | 83,636 | $ | — | |||||||||||
Loans receivable (1) | 230,275 | 230,300 | — | — | 230,300 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Certificate of deposits | 98,528 | 100,120 | — | 100,120 | — | ||||||||||||||||
Advances from Federal Home Loan Bank of New York | 38,000 | 39,281 | — | 39,281 | — | ||||||||||||||||
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_17_Parent_Only_Financial_1
Note 17 - Parent Only Financial Statements (Tables) | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||
Condensed Statements of Financial Condition | |||||||||
June 30, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Assets | |||||||||
Cash and due from banks | $ | 3,232 | $ | 2,994 | |||||
Loan receivable | 996 | 1,172 | |||||||
Investments in subsidiaries | 36,504 | 35,257 | |||||||
Other assets | 178 | 1,172 | |||||||
Total Assets | $ | 40,910 | $ | 40,595 | |||||
Liabilities | |||||||||
Other liabilities | $ | 100 | $ | 1,082 | |||||
Total liabilities | 100 | 1,082 | |||||||
Stockholders’ Equity | |||||||||
Common stock | 562 | 562 | |||||||
Paid-in capital | 24,616 | 24,473 | |||||||
Retained earnings | 21,670 | 20,682 | |||||||
Unallocated common stock held by ESOP | (759 | ) | (927 | ) | |||||
Treasury stock | (5,244 | ) | (5,244 | ) | |||||
Accumulated other comprehensive loss | (35 | ) | (33 | ) | |||||
Total Stockholders’ Equity | 40,810 | 39,513 | |||||||
Total Liabilities and Stockholders’ Equity | $ | 40,910 | $ | 40,595 | |||||
Condensed Income Statement [Table Text Block] | ' | ||||||||
Condensed Statements of Comprehensive (Loss) Income | |||||||||
Years Ended June 30, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Equity in undistributed earnings of subsidiaries | $ | 1,118 | $ | (1,272 | ) | ||||
Interest income | 91 | 105 | |||||||
Non-interest expense | (226 | ) | (221 | ) | |||||
Income (Loss) Before Income Taxes | 983 | (1,388 | ) | ||||||
Income tax benefit | -5 | (3 | ) | ||||||
Net Income (Loss) | $ | 988 | $ | (1,385 | ) | ||||
Comprehensive Income (Loss) | $ | 986 | $ | (1,317 | ) | ||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||
Condensed Statements of Cash Flows | |||||||||
Years Ended June 30, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Cash Flows from Operating Activities | |||||||||
Net income (loss) | $ | 988 | $ | (1,385 | ) | ||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||
Equity in undistributed earnings of subsidiaries | (1,118 | ) | 1,272 | ||||||
Net change in other assets and liabilities | 192 | 88 | |||||||
Net Cash Provided by (Used in) Operating Activities | 62 | (25 | ) | ||||||
Cash Flows from Investing Activities | |||||||||
Repayment of ESOP loan receivable | 176 | 162 | |||||||
Net Cash Provided by Investing Activities | 176 | 162 | |||||||
Cash Flows from Financing Activities | |||||||||
Dividends paid to minority stockholders | - | (56 | ) | ||||||
Purchase of treasury stock | - | (476 | ) | ||||||
Capital distribution to Bank | - | (1,000 | ) | ||||||
Net Cash Used in Financing Activities | - | (1,532 | ) | ||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 238 | (1,395 | ) | ||||||
Cash and Cash Equivalents - Beginning | 2,994 | 4,389 | |||||||
Cash and Cash Equivalents - Ending | $ | 3,232 | $ | 2,994 |
Note_18_Quarterly_Results_of_O1
Note 18 - Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
Year Ended June 30, 2014 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Interest income | $ | 2,965 | $ | 3,005 | $ | 3,038 | $ | 2,984 | |||||||||
Interest expense | 632 | 617 | 585 | 588 | |||||||||||||
Net Interest Income | 2,333 | 2,388 | 2,453 | 2,396 | |||||||||||||
Provision for loan losses | 150 | 150 | 150 | 150 | |||||||||||||
Net Interest Income after Provision for Loan Losses | 2,183 | 2,238 | 2,303 | 2,246 | |||||||||||||
Non-interest income | 181 | 182 | 184 | 177 | |||||||||||||
Non-interest expenses | 1,987 | 2,037 | 2,117 | 2,017 | |||||||||||||
Income before Income Taxes | 377 | 383 | 370 | 406 | |||||||||||||
Income tax expense | 129 | 132 | 127 | 160 | |||||||||||||
Net Income | $ | 248 | $ | 251 | $ | 243 | $ | 246 | |||||||||
Earnings per share: | |||||||||||||||||
Basic and diluted | $ | 0.05 | $ | 0.05 | $ | 0.05 | $ | 0.05 | |||||||||
Year Ended June 30, 2013 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
(In thousands except per share data) | |||||||||||||||||
Interest income | $ | 3,142 | $ | 3,000 | $ | 2,985 | $ | 2,905 | |||||||||
Interest expense | 727 | 689 | 648 | 657 | |||||||||||||
Net Interest Income | 2,415 | 2,311 | 2,337 | 2,248 | |||||||||||||
Provision for loan losses | 746 | 2,973 | 175 | 150 | |||||||||||||
Net Interest Income (Loss) after Provision for Loan Losses | 1,669 | (662 | ) | 2,162 | 2,098 | ||||||||||||
Non-interest income | 159 | 162 | 159 | 170 | |||||||||||||
Non-interest expenses | 2,004 | 2,122 | 2,188 | 1,975 | |||||||||||||
(Loss) Income before Income Taxes | (176 | ) | (2,622 | ) | 133 | 293 | |||||||||||
Income tax (benefit) expense | (84 | ) | (1,047 | ) | 44 | 100 | |||||||||||
Net (Loss) Income | $ | (92 | ) | $ | (1,575 | ) | $ | 89 | $ | 193 | |||||||
(Loss) Earnings per share: | |||||||||||||||||
Basic and diluted | $ | (0.02 | ) | $ | (0.32 | ) | $ | 0.02 | $ | 0.04 |
Note_19_Reclassifications_Out_1
Note 19 - Reclassifications Out of Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||
Details about Accumulated | Amount Reclassified | Affected Line Item | |||||||
Other Comprehensive | from Accumulated | in the Consolidated | |||||||
Income (Loss) Components | Other Comprehensive | Statements of Comprehensive | |||||||
Income (Loss) (a) | Income (Loss) | ||||||||
Twelve Months Ended | |||||||||
30-Jun-14 | |||||||||
(In thousands) | |||||||||
Amortization of defined benefit pension items: | |||||||||
Prior service costs | $ | (4 | ) | (b) | Directors compensation | ||||
Unrecognized loss | (17 | ) | (b) | Directors compensation | |||||
Unrecognized gain | 28 | (b) | Salary and employee benefits | ||||||
7 | Total before tax | ||||||||
(3 | ) | Income tax (expense) | |||||||
Total reclassifications for the period | $ | 4 | Net of tax |
Note_1_Organization_and_Busine1
Note 1 - Organization and Business (Details) | Jun. 30, 2014 |
Disclosure Text Block [Abstract] | ' |
Equity Method Investment, Ownership Percentage | 61.70% |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' |
Available-for-sale Securities | $0 | $0 |
Asset Impairment Charges | 0 | 0 |
Unrecognized Tax Benefits, Period Increase (Decrease) | 0 | 0 |
Income Tax Examination, Penalties and Interest Expense | $0 | $0 |
Employee Stock Option [Member] | ' | ' |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 275,410 | 275,410 |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies (Details) - Property, Plant and Equipment | 12 Months Ended |
Jun. 30, 2014 | |
Building and Building Improvements [Member] | Minimum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment, estimated useful life | '5 years |
Building and Building Improvements [Member] | Maximum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment, estimated useful life | '50 years |
Furniture and Fixtures [Member] | Minimum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment, estimated useful life | '3 years |
Furniture and Fixtures [Member] | Maximum [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property, Plant and Equipment [Line Items] | ' |
Property plant and equipment, estimated useful life | '7 years |
Leasehold Improvements [Member] | ' |
Note 2 - Summary of Significant Accounting Policies (Details) - Property, Plant and Equipment [Line Items] | ' |
Leasehold improvements | 'Shorter of useful life or term of lease |
Note_3_Stock_Offering_and_Stoc1
Note 3 - Stock Offering and Stock Repurchase Program (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 77 Months Ended | ||||
Jan. 04, 2007 | Jun. 30, 2014 | Jun. 30, 2013 | Jan. 04, 2007 | Jan. 04, 2007 | Jan. 04, 2007 | Jan. 04, 2007 | Jun. 30, 2014 | |
Employee Stock [Member] | Minimum [Member] | Maximum [Member] | Seventh Stock Repurchase Program [Member] | Sixth Stock Repurchase Program [Member] | ||||
Note 3 - Stock Offering and Stock Repurchase Program (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | 2,199,375 | ' | ' | ' |
Sale of Stock, Price Per Share (in Dollars per share) | $10 | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Number of Shares Issued in Transaction | ' | ' | ' | 202,342 | ' | 2,529,281 | ' | ' |
Sale Of Stock Consideration Received Gross (in Dollars) | $25,292,810 | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Consideration Received on Transaction (in Dollars) | 24,500,000 | ' | ' | ' | ' | ' | ' | ' |
Sale Of Stock Consideration Received Shares | 3,091,344 | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Percentage of Ownership after Transaction | ' | 61.70% | ' | ' | ' | ' | ' | ' |
Sale of Stock, Percentage of Ownership before Transaction | ' | ' | ' | ' | ' | ' | 100.00% | ' |
Common Stock, Shares, Outstanding | 10,000 | 5,010,437 | 5,010,437 | ' | ' | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | ' | ' | ' | ' | ' | ' | 610,188 |
Treasury Stock, Shares, Acquired | ' | 0 | 74,855 | ' | ' | ' | ' | ' |
Dividends, Common Stock, Cash (in Dollars) | ' | $0 | $0 | ' | ' | ' | ' | ' |
Note_4_Securities_Held_to_Matu2
Note 4 - Securities Held to Maturity (Details) (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Note 4 - Securities Held to Maturity (Details) [Line Items] | ' | ' |
Proceeds from Sale of Held-to-maturity Securities (in Dollars) | $0 | $0 |
Held-to-maturity Securities Pledged as Collateral (in Dollars) | $764,000 | $782,000 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) [Line Items] | ' | ' |
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 31 | 31 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) [Line Items] | ' | ' |
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 22 | 14 |
Corporate Debt Securities [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) [Line Items] | ' | ' |
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 2 | 5 |
Certificates of Deposit [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) [Line Items] | ' | ' |
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 2 | 1 |
Note_4_Securities_Held_to_Matu3
Note 4 - Securities Held to Maturity (Details) - Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Note 4 - Securities Held to Maturity (Details) - Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities [Line Items] | ' | ' |
Amortized cost | $84,932 | $80,912 |
Gross unrealized gains | 599 | 413 |
Gross unrealized losses | 1,895 | 2,958 |
Fair value | 83,636 | 78,367 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities [Line Items] | ' | ' |
Amortized cost | 49,177 | 46,194 |
Gross unrealized gains | 49 | 84 |
Gross unrealized losses | 1,551 | 2,131 |
Fair value | 47,675 | 44,147 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities [Line Items] | ' | ' |
Amortized cost | 26,089 | 24,768 |
Gross unrealized gains | 464 | 297 |
Gross unrealized losses | 338 | 754 |
Fair value | 26,215 | 24,311 |
Corporate Debt Securities [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities [Line Items] | ' | ' |
Amortized cost | 4,630 | 4,669 |
Gross unrealized gains | 56 | 15 |
Gross unrealized losses | 5 | 72 |
Fair value | 4,681 | 4,612 |
Certificates of Deposit [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities [Line Items] | ' | ' |
Amortized cost | 5,036 | 5,281 |
Gross unrealized gains | 30 | 17 |
Gross unrealized losses | 1 | 1 |
Fair value | $5,065 | $5,297 |
Note_4_Securities_Held_to_Matu4
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities by Contractual Maturity (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities by Contractual Maturity [Line Items] | ' | ' |
Amortized cost | $84,932 | $80,912 |
Fair value | 83,636 | 78,367 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities by Contractual Maturity [Line Items] | ' | ' |
Due after one year through five years, amortized cost | 23,000 | ' |
Due after one year through five years, fair value | 22,497 | ' |
Due after five years through ten years | 12,177 | ' |
Due after five years through ten years | 11,835 | ' |
Due thereafter | 14,000 | ' |
Due thereafter | 13,343 | ' |
Amortized cost | 49,177 | ' |
Fair value | 47,675 | 44,147 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities by Contractual Maturity [Line Items] | ' | ' |
Amortized cost | 26,089 | ' |
Fair value | 26,215 | 24,311 |
Corporate Debt Securities [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities by Contractual Maturity [Line Items] | ' | ' |
Due after one year through five years, amortized cost | 4,630 | ' |
Due after one year through five years, fair value | 4,681 | ' |
Fair value | 4,681 | 4,612 |
Certificates of Deposit [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities by Contractual Maturity [Line Items] | ' | ' |
Due after one year through five years, amortized cost | 3,611 | ' |
Due after one year through five years, fair value | 3,638 | ' |
Due within one year | 1,425 | ' |
Due within one year | 1,427 | ' |
Amortized cost | 5,036 | ' |
Fair value | $5,065 | $5,297 |
Note_4_Securities_Held_to_Matu5
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Less than 12 Months, Fair Value | $54,881 | $63,675 |
Less than 12 Months, Gross Unrealized Losses | 1,672 | 2,958 |
More than 12 Months, Fair Value | 7,106 | ' |
More than 12 Months, Gross Unrealized Losses | 223 | ' |
Total, Fair Value | 61,987 | 63,675 |
Total, Gross Unrealized Losses | 1,895 | 2,958 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 36,339 | 42,048 |
Less than 12 Months, Gross Unrealized Losses | 1,341 | 2,131 |
More than 12 Months, Fair Value | 6,290 | ' |
More than 12 Months, Gross Unrealized Losses | 210 | ' |
Total, Fair Value | 42,629 | 42,048 |
Total, Gross Unrealized Losses | 1,551 | 2,131 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 17,022 | 18,401 |
Less than 12 Months, Gross Unrealized Losses | 325 | 754 |
More than 12 Months, Fair Value | 816 | ' |
More than 12 Months, Gross Unrealized Losses | 13 | ' |
Total, Fair Value | 17,838 | 18,401 |
Total, Gross Unrealized Losses | 338 | 754 |
Corporate Debt Securities [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 1,031 | 2,980 |
Less than 12 Months, Gross Unrealized Losses | 5 | 72 |
Total, Fair Value | 1,031 | 2,980 |
Total, Gross Unrealized Losses | 5 | 72 |
Certificates of Deposit [Member] | ' | ' |
Note 4 - Securities Held to Maturity (Details) - Held-to-Maturity Securities in Unrealized Loss Positions [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 489 | 246 |
Less than 12 Months, Gross Unrealized Losses | 1 | 1 |
Total, Fair Value | 489 | 246 |
Total, Gross Unrealized Losses | $1 | $1 |
Note_5_Loans_Receivable_and_Al2
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) (USD $) | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | |
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) [Line Items] | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | ' | $16,700,000 | $18,100,000 |
Impaired Financing Receivable, Recorded Investment | ' | 22,930,000 | 27,001,000 |
Financing Receivable, Modifications, Accrual Status, Recorded Investment | ' | 13,400,000 | 11,800,000 |
Financing Receivable, Modifications, Nonaccrual Status, Recorded Investment | ' | 3,200,000 | 6,200,000 |
Financing Receivable, Allowance For Credit Losses, Troubled Debt Restructuring | ' | 73,000 | 152,000 |
Financing Receivable, Modifications, Number of Contracts | 18 | 2 | 18 |
Performing Financing Receivable [Member] | ' | ' | ' |
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) [Line Items] | ' | ' | ' |
Impaired Financing Receivable, Recorded Investment | ' | $13,400,000 | $11,800,000 |
Note_5_Loans_Receivable_and_Al3
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) - Composition of Total Loans Receivable (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | $233,961 | $227,526 |
Loans in process | -2,491 | -745 |
Deferred loan fees | -366 | -377 |
Residential Mortgage: One-to-Four Family [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 143,283 | 136,704 |
Residential Mortgage: Home Equity [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 38,484 | 40,682 |
Total Residential Mortgage Portfolio Segment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 181,767 | 177,386 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 32,036 | 32,171 |
Construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 12,517 | 8,895 |
Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 9,666 | 9,267 |
Commercial Real Estate Segment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 54,219 | 50,333 |
Consumer: Deposit Accounts [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 602 | 611 |
Consumer: Automobile [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 33 | 111 |
Consumer: Personal Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 36 | 32 |
Consumer: Overdraft Protection [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 161 | 175 |
Total Consumer Portfolio Segment [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 832 | 929 |
Financing Receivable Before Loans In Process And Deferred Loan Fees [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | $236,818 | $228,648 |
Note_5_Loans_Receivable_and_Al4
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) - Impaired Loans by Class (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Residential mortgage | ' | ' |
Recorded Investment, with No Related Allowance Recorded | $22,793 | $21,340 |
Unpaid Principal Balance, with No Related Allowance Recorded | 24,727 | 22,633 |
Average Recorded Investment, with No Related Allowance Recorded | 21,503 | 18,713 |
Interest Income Recognized, with No Related Allowance Recorded | 906 | 674 |
Residential mortgage | ' | ' |
Recorded Investment, with an Allowance Recorded | 137 | 5,661 |
Unpaid Principal Balance, with an Allowance Recorded | 138 | 6,774 |
Related Allowance | 73 | 433 |
Average Recorded Investment, with an Allowance Recorded | 2,129 | 7,793 |
Interest Income Recognized, with an Allowance Recorded | 3 | 150 |
Residential mortgage | ' | ' |
Recorded Investment, Total | 22,930 | 27,001 |
Unpaid Principal Balance, Total | 24,865 | 29,407 |
Related Allowance, Total | 73 | 433 |
Average Recorded Investment, Total | 23,632 | 26,506 |
Interest Income Recognized, Total | 909 | 824 |
Residential Mortgage: One-to-Four Family [Member] | ' | ' |
Residential mortgage | ' | ' |
Recorded Investment, with No Related Allowance Recorded | 15,975 | 13,817 |
Unpaid Principal Balance, with No Related Allowance Recorded | 16,667 | 14,747 |
Average Recorded Investment, with No Related Allowance Recorded | 14,982 | 11,978 |
Interest Income Recognized, with No Related Allowance Recorded | 620 | 437 |
Residential mortgage | ' | ' |
Recorded Investment, with an Allowance Recorded | ' | 1,469 |
Unpaid Principal Balance, with an Allowance Recorded | ' | 1,720 |
Related Allowance | ' | 58 |
Average Recorded Investment, with an Allowance Recorded | 632 | 3,219 |
Interest Income Recognized, with an Allowance Recorded | ' | 34 |
Residential mortgage | ' | ' |
Recorded Investment, Total | 15,975 | 15,286 |
Unpaid Principal Balance, Total | 16,667 | 16,467 |
Related Allowance, Total | ' | 58 |
Average Recorded Investment, Total | 15,614 | 15,197 |
Interest Income Recognized, Total | 620 | 471 |
Residential Mortgage: Home Equity [Member] | ' | ' |
Residential mortgage | ' | ' |
Recorded Investment, with No Related Allowance Recorded | 1,740 | 3,376 |
Unpaid Principal Balance, with No Related Allowance Recorded | 1,756 | 3,406 |
Average Recorded Investment, with No Related Allowance Recorded | 2,019 | 3,399 |
Interest Income Recognized, with No Related Allowance Recorded | 41 | 127 |
Residential mortgage | ' | ' |
Recorded Investment, with an Allowance Recorded | ' | 891 |
Unpaid Principal Balance, with an Allowance Recorded | ' | 1,214 |
Related Allowance | ' | 233 |
Average Recorded Investment, with an Allowance Recorded | 294 | 737 |
Interest Income Recognized, with an Allowance Recorded | ' | 7 |
Residential mortgage | ' | ' |
Recorded Investment, Total | 1,740 | 4,267 |
Unpaid Principal Balance, Total | 1,756 | 4,620 |
Related Allowance, Total | ' | 233 |
Average Recorded Investment, Total | 2,313 | 4,136 |
Interest Income Recognized, Total | 41 | 134 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Residential mortgage | ' | ' |
Recorded Investment, with No Related Allowance Recorded | 1,973 | 1,796 |
Unpaid Principal Balance, with No Related Allowance Recorded | 2,431 | 1,867 |
Average Recorded Investment, with No Related Allowance Recorded | 1,404 | 1,742 |
Interest Income Recognized, with No Related Allowance Recorded | 76 | 65 |
Residential mortgage | ' | ' |
Recorded Investment, with an Allowance Recorded | ' | 1,444 |
Unpaid Principal Balance, with an Allowance Recorded | ' | 1,804 |
Related Allowance | ' | 88 |
Average Recorded Investment, with an Allowance Recorded | 752 | 1,512 |
Interest Income Recognized, with an Allowance Recorded | ' | 17 |
Residential mortgage | ' | ' |
Recorded Investment, Total | 1,973 | 3,240 |
Unpaid Principal Balance, Total | 2,431 | 3,671 |
Related Allowance, Total | ' | 88 |
Average Recorded Investment, Total | 2,156 | 3,254 |
Interest Income Recognized, Total | 76 | 82 |
Construction: One-to-Four Family Occupied [Member] | ' | ' |
Residential mortgage | ' | ' |
Recorded Investment, with No Related Allowance Recorded | 1,707 | ' |
Unpaid Principal Balance, with No Related Allowance Recorded | 1,936 | ' |
Average Recorded Investment, with No Related Allowance Recorded | 1,365 | 387 |
Interest Income Recognized, with No Related Allowance Recorded | 97 | ' |
Residential mortgage | ' | ' |
Recorded Investment, with an Allowance Recorded | ' | 1,707 |
Unpaid Principal Balance, with an Allowance Recorded | ' | 1,936 |
Related Allowance | ' | 23 |
Average Recorded Investment, with an Allowance Recorded | 341 | 1,230 |
Interest Income Recognized, with an Allowance Recorded | ' | 87 |
Residential mortgage | ' | ' |
Recorded Investment, Total | 1,707 | 1,707 |
Unpaid Principal Balance, Total | 1,936 | 1,936 |
Related Allowance, Total | ' | 23 |
Average Recorded Investment, Total | 1,706 | 1,617 |
Interest Income Recognized, Total | 97 | 87 |
Construction: Other [Member] | ' | ' |
Residential mortgage | ' | ' |
Recorded Investment, with No Related Allowance Recorded | 750 | 1,601 |
Unpaid Principal Balance, with No Related Allowance Recorded | 750 | 1,510 |
Average Recorded Investment, with No Related Allowance Recorded | 920 | 671 |
Interest Income Recognized, with No Related Allowance Recorded | 36 | 16 |
Residential mortgage | ' | ' |
Recorded Investment, with an Allowance Recorded | 137 | ' |
Unpaid Principal Balance, with an Allowance Recorded | 138 | ' |
Related Allowance | 73 | ' |
Average Recorded Investment, with an Allowance Recorded | 110 | 646 |
Interest Income Recognized, with an Allowance Recorded | 3 | ' |
Residential mortgage | ' | ' |
Recorded Investment, Total | 887 | 1,601 |
Unpaid Principal Balance, Total | 888 | 1,510 |
Related Allowance, Total | 73 | ' |
Average Recorded Investment, Total | 1,030 | 1,317 |
Interest Income Recognized, Total | 39 | 16 |
Commercial and Industrial [Member] | ' | ' |
Residential mortgage | ' | ' |
Recorded Investment, with No Related Allowance Recorded | 648 | 750 |
Unpaid Principal Balance, with No Related Allowance Recorded | 1,187 | 1,103 |
Average Recorded Investment, with No Related Allowance Recorded | 813 | 536 |
Interest Income Recognized, with No Related Allowance Recorded | 36 | 29 |
Residential mortgage | ' | ' |
Recorded Investment, with an Allowance Recorded | ' | 150 |
Unpaid Principal Balance, with an Allowance Recorded | ' | 100 |
Related Allowance | ' | 31 |
Average Recorded Investment, with an Allowance Recorded | ' | 449 |
Interest Income Recognized, with an Allowance Recorded | ' | 5 |
Residential mortgage | ' | ' |
Recorded Investment, Total | 648 | 900 |
Unpaid Principal Balance, Total | 1,187 | 1,203 |
Related Allowance, Total | ' | 31 |
Average Recorded Investment, Total | 813 | 985 |
Interest Income Recognized, Total | $36 | $34 |
Note_5_Loans_Receivable_and_Al5
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) - Financing Receivable Credit Quality Indicators (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | $51,605,000 | $49,470,000 |
Commercial Real Estate Segment [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 27,280,000 | 27,025,000 |
Commercial Real Estate Segment [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 3,062,000 | 2,491,000 |
Commercial Real Estate Segment [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 1,621,000 | 2,515,000 |
Commercial Real Estate Segment [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | ' | 72,000 |
Commercial Real Estate Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 31,963,000 | 32,103,000 |
Construction: One-to-Four Family Occupied [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 850,000 | 2,845,000 |
Construction: One-to-Four Family Occupied [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 1,707,000 | 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 | 2,557,000 | 4,552,000 |
Construction: Other [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 6,851,000 | 1,980,000 |
Construction: Other [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 445,000 | 988,000 |
Construction: Other [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 64,000 | ' |
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 | 73,000 | ' |
Construction: Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 7,433,000 | 3,569,000 |
Commercial and Industrial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 8,769,000 | 8,188,000 |
Commercial and Industrial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 105,000 | 113,000 |
Commercial and Industrial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 778,000 | 923,000 |
Commercial and Industrial [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | ' | 22,000 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 9,652 | 9,246,000 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 43,750,000 | 40,038,000 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 3,612,000 | 3,592,000 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | 4,170,000 | 5,131,000 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | ' | 601,000 |
Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Net | $73,000 | $108,000 |
Note_5_Loans_Receivable_and_Al6
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) - Past Due Financing Receivables (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $2,541 | $6,581 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,506 | 1,701 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 4,810 | 9,825 |
Financing Receivable, Recorded Investment, Past Due | 8,857 | 18,107 |
Financing Receivable, Recorded Investment, Current | 225,104 | 209,419 |
Loans and Leases Receivable, Net | 233,961 | 227,526 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,952 | 13,447 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 361 | 647 |
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 | 2,496 | 3,910 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,381 | 1,525 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,185 | 5,822 |
Financing Receivable, Recorded Investment, Past Due | 6,062 | 11,257 |
Financing Receivable, Recorded Investment, Current | 137,048 | 125,189 |
Loans and Leases Receivable, Net | 143,110 | 136,446 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 4,346 | 7,955 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 310 | 501 |
Residential Mortgage: Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 32 | 412 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 125 | 127 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,207 | 1,317 |
Financing Receivable, Recorded Investment, Past Due | 1,364 | 1,856 |
Financing Receivable, Recorded Investment, Current | 37,049 | 38,825 |
Loans and Leases Receivable, Net | 38,413 | 40,681 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,586 | 1,502 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 51 | 146 |
Commercial Real Estate Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 782 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,248 | 1,805 |
Financing Receivable, Recorded Investment, Past Due | 1,248 | 2,587 |
Financing Receivable, Recorded Investment, Current | 30,715 | 29,516 |
Loans and Leases Receivable, Net | 31,963 | 32,103 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,248 | 2,587 |
Construction: One-to-Four Family Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Current | 2,557 | 4,552 |
Loans and Leases Receivable, Net | 2,557 | 4,552 |
Construction: Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 1,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 601 |
Financing Receivable, Recorded Investment, Past Due | ' | 1,601 |
Financing Receivable, Recorded Investment, Current | 7,433 | 1,968 |
Loans and Leases Receivable, Net | 7,433 | 3,569 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 137 | 601 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 9 | 472 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 49 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 170 | 280 |
Financing Receivable, Recorded Investment, Past Due | 179 | 801 |
Financing Receivable, Recorded Investment, Current | 9,473 | 8,445 |
Loans and Leases Receivable, Net | 9,652 | 9,246 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 635 | ' |
Total Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 4 | 5 |
Financing Receivable, Recorded Investment, Past Due | 4 | 5 |
Financing Receivable, Recorded Investment, Current | 829 | 924 |
Loans and Leases Receivable, Net | 833 | 929 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | $802 |
Note_5_Loans_Receivable_and_Al7
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) - Allowance for Loan Losses (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | |||
losses: | ' | ' | ' |
Ending Balance | $3,686 | $4,270 | $3,065 |
Ending balance: individually evaluated for impairment | 73 | 433 | ' |
Ending balance: collectively evaluated for impairment | 3,613 | 3,837 | ' |
Loans receivables: | ' | ' | ' |
Ending balance | 233,961 | 227,526 | ' |
Ending balance: individually evaluated for impairment | 22,930 | 27,001 | ' |
Ending balance: collectively evaluated for impairment | 211,031 | 200,525 | ' |
Residential Portfolio Segment [Member] | ' | ' | ' |
losses: | ' | ' | ' |
Ending Balance | 2,183 | 3,036 | 1,808 |
Ending balance: individually evaluated for impairment | ' | 291 | ' |
Ending balance: collectively evaluated for impairment | 2,183 | 2,745 | ' |
Loans receivables: | ' | ' | ' |
Ending balance | 181,524 | 177,127 | ' |
Ending balance: individually evaluated for impairment | 17,715 | 19,553 | ' |
Ending balance: collectively evaluated for impairment | 163,809 | 157,574 | ' |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' |
losses: | ' | ' | ' |
Ending Balance | 860 | 706 | 445 |
Ending balance: individually evaluated for impairment | ' | 88 | ' |
Ending balance: collectively evaluated for impairment | 860 | 618 | ' |
Loans receivables: | ' | ' | ' |
Ending balance | 31,963 | 32,103 | ' |
Ending balance: individually evaluated for impairment | 1,973 | 3,240 | ' |
Ending balance: collectively evaluated for impairment | 29,990 | 28,863 | ' |
Construction [Member] | ' | ' | ' |
losses: | ' | ' | ' |
Ending Balance | 379 | 238 | 527 |
Ending balance: individually evaluated for impairment | 73 | 23 | ' |
Ending balance: collectively evaluated for impairment | 306 | 215 | ' |
Loans receivables: | ' | ' | ' |
Ending balance | 9,990 | 8,121 | ' |
Ending balance: individually evaluated for impairment | 2,594 | 3,308 | ' |
Ending balance: collectively evaluated for impairment | 7,396 | 4,813 | ' |
Commercial and Industrial [Member] | ' | ' | ' |
losses: | ' | ' | ' |
Ending Balance | 256 | 276 | 272 |
Ending balance: individually evaluated for impairment | ' | 31 | ' |
Ending balance: collectively evaluated for impairment | 256 | 245 | ' |
Loans receivables: | ' | ' | ' |
Ending balance | 9,652 | 9,246 | ' |
Ending balance: individually evaluated for impairment | 648 | 900 | ' |
Ending balance: collectively evaluated for impairment | 9,004 | 8,346 | ' |
Consumer Portfolio Segment [Member] | ' | ' | ' |
losses: | ' | ' | ' |
Ending Balance | 8 | 11 | 13 |
Ending balance: collectively evaluated for impairment | 8 | 11 | ' |
Loans receivables: | ' | ' | ' |
Ending balance | 832 | 929 | ' |
Ending balance: collectively evaluated for impairment | 832 | 929 | ' |
Unallocated [Member] | ' | ' | ' |
losses: | ' | ' | ' |
Ending Balance | ' | 3 | ' |
Ending balance: collectively evaluated for impairment | ' | $3 | ' |
Note_5_Loans_Receivable_and_Al8
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) - Change in Allowance for Credit Loss (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Allowance for loan losses: | ' | ' |
Balance, beginning | $4,270 | $3,065 |
Balance, ending | 3,686 | 4,270 |
Provisions | 600 | 4,044 |
Loans charged-off | -1,241 | -2,895 |
Recoveries | 57 | 56 |
Residential Portfolio Segment [Member] | ' | ' |
Allowance for loan losses: | ' | ' |
Balance, beginning | 3,036 | 1,808 |
Balance, ending | 2,183 | 3,036 |
Provisions | -351 | 3,039 |
Loans charged-off | -537 | -1,867 |
Recoveries | 35 | 56 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Allowance for loan losses: | ' | ' |
Balance, beginning | 706 | 445 |
Balance, ending | 860 | 706 |
Provisions | 494 | 609 |
Loans charged-off | -340 | -348 |
Construction [Member] | ' | ' |
Allowance for loan losses: | ' | ' |
Balance, beginning | 238 | 527 |
Balance, ending | 379 | 238 |
Provisions | 246 | 44 |
Loans charged-off | -119 | -333 |
Recoveries | 14 | ' |
Commercial and Industrial [Member] | ' | ' |
Allowance for loan losses: | ' | ' |
Balance, beginning | 276 | 272 |
Balance, ending | 256 | 276 |
Provisions | 208 | 346 |
Loans charged-off | -236 | -342 |
Recoveries | 8 | ' |
Consumer Portfolio Segment [Member] | ' | ' |
Allowance for loan losses: | ' | ' |
Balance, beginning | 11 | 13 |
Balance, ending | 8 | 11 |
Provisions | 6 | 3 |
Loans charged-off | -9 | -5 |
Unallocated [Member] | ' | ' |
Allowance for loan losses: | ' | ' |
Balance, beginning | 3 | ' |
Balance, ending | ' | 3 |
Provisions | ($3) | $3 |
Note_5_Loans_Receivable_and_Al9
Note 5 - Loans Receivable and Allowance for Credit Losses (Details) - Troubled Debt Restructurings on Financing Receivables (USD $) | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 18 | 2 | 18 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | $1,054,000 | $6,108,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 1,071,000 | 5,846,000 |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts, Subsequent Default | ' | 3 | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment, Subsequent Default | ' | 432,000 | 156,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment, Subsequent Default | ' | 477,000 | 127,000 |
Residential Mortgage: One-to-Four Family [Member] | ' | ' | ' |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | 2 | 10 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | 1,054,000 | 3,625,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 1,071,000 | 3,582,000 |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts, Subsequent Default | ' | ' | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment, Subsequent Default | ' | ' | 156,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment, Subsequent Default | ' | ' | 127,000 |
Commercial Real Estate Segment [Member] | ' | ' | ' |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 3 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | ' | 1,119,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 1,063 |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts, Subsequent Default | ' | 1 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment, Subsequent Default | ' | 409,000 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment, Subsequent Default | ' | 409,000 | ' |
Construction: Other [Member] | ' | ' | ' |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | ' | 1,150,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 987,000 |
Commercial and Industrial [Member] | ' | ' | ' |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 4 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | ' | 214,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | ' | 214,000 |
Residential Mortgage | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts, Subsequent Default | ' | 2 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment, Subsequent Default | ' | 23,000 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment, Subsequent Default | ' | $68,000 | ' |
Note_6_Premises_and_Equipment_1
Note 6 - Premises and Equipment (Details) - Components of Premises and Equipment (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property Plant and Equipment, Gross | $14,031 | $14,083 |
Accumulated depreciation and amortization | -5,545 | -5,201 |
8,486 | 8,882 | |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property Plant and Equipment, Gross | 1,937 | 1,937 |
Building and Building Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property Plant and Equipment, Gross | 8,477 | 8,469 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property Plant and Equipment, Gross | 1,767 | 1,787 |
Furnishings and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property Plant and Equipment, Gross | 1,835 | 1,887 |
Assets Being Developedfor Future Use [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property Plant and Equipment, Gross | $15 | $3 |
Note_7_Accrued_Interest_Receiv2
Note 7 - Accrued Interest Receivable (Details) - Components of Interest Receivable (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Note 7 - Accrued Interest Receivable (Details) - Components of Interest Receivable [Line Items] | ' | ' |
Interest receivable | $1,318 | $1,229 |
Loans 1 [Member] | ' | ' |
Note 7 - Accrued Interest Receivable (Details) - Components of Interest Receivable [Line Items] | ' | ' |
Interest receivable | 886 | 847 |
Securities Heldto Maturity [Member] | ' | ' |
Note 7 - Accrued Interest Receivable (Details) - Components of Interest Receivable [Line Items] | ' | ' |
Interest receivable | $432 | $382 |
Note_8_Deposits_Details
Note 8 - Deposits (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
Disclosure Text Block [Abstract] | ' | ' |
Certificates of Deposit, at Carrying Value | $41,775,000 | $44,740,000 |
Note_8_Deposits_Details_Deposi
Note 8 - Deposits (Details) - Deposit Liabilities (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Deposit Liabilities [Abstract] | ' | ' |
Non-interest bearing demand | $22,206 | $18,559 |
NOW | 31,899 | 31,973 |
NOW | 0.15% | 0.14% |
Super NOW | 4,791 | 3,991 |
Super NOW | 0.20% | 0.20% |
Savings and club | 102,241 | 112,385 |
Savings and club | 0.21% | 0.21% |
Money market demand | 3,724 | 3,611 |
Money market demand | 0.23% | 0.23% |
Certificates of deposit | 98,528 | 109,948 |
Certificates of deposit | 1.32% | 1.40% |
$263,389 | $280,467 | |
0.60% | 0.65% |
Note_8_Deposits_Details_Certif
Note 8 - Deposits (Details) - Certificates of Deposit by Maturity (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Certificates of Deposit by Maturity [Abstract] | ' | ' |
2015 | $62,142 | ' |
2016 | 19,058 | ' |
2017 | 9,154 | ' |
2018 | 3,515 | ' |
2019 | 2,527 | ' |
Thereafter | 2,132 | ' |
$98,528 | $109,948 |
Note_8_Deposits_Details_Intere
Note 8 - Deposits (Details) - Interest Expense by Deposit Type (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Interest Expense by Deposit Type [Abstract] | ' | ' |
NOW, super NOW and money market demand | $50 | $51 |
Savings and club | 233 | 251 |
Certificates of deposit | 1,372 | 1,705 |
$1,655 | $2,007 |
Note_9_Borrowings_Details
Note 9 - Borrowings (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
Note 9 - Borrowings (Details) [Line Items] | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | $20,000,000 | ' |
Long-term Line of Credit | 0 | 0 |
Federal Home Loan Bank of New York [Member] | ' | ' |
Note 9 - Borrowings (Details) [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 69,500,000 | 80,800,000 |
Federal Home Loan Bank Advances | $8,000,000 | $0 |
Note_9_Borrowings_Details_Term
Note 9 - Borrowings (Details) - Term Advances Due to the FHLB (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Fixed interest rate | 2.50% | ' |
FHLB Advances | $30,000 | $30,000 |
Federal Home Loan Bankof New York 1 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Fixed interest rate | 0.78% | ' |
FHLB Advances | 5,000 | 5,000 |
Federal Home Loan Bankof New York 2 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Fixed interest rate | 0.78% | ' |
FHLB Advances | 5,000 | 5,000 |
Federal Home Loan Bankof New York 3 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Fixed interest rate | 3.27% | ' |
FHLB Advances | 10,000 | 10,000 |
Federal Home Loan Bankof New York 4 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Fixed interest rate | 3.46% | ' |
FHLB Advances | $10,000 | $10,000 |
Note_10_Lease_Commitments_and_2
Note 10 - Lease Commitments and Total Rental Expense (Details) (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Leases [Abstract] | ' | ' |
Operating Leases, Rent Expense, Net | $407,000 | $407,000 |
Note_10_Lease_Commitments_and_3
Note 10 - Lease Commitments and Total Rental Expense (Details) - Future Minimum Lease Payments (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Future Minimum Lease Payments [Abstract] | ' |
2015 | $415 |
2016 | 415 |
2017 | 431 |
2018 | 333 |
2019 | 263 |
Thereafter | 307 |
$2,164 |
Note_11_Income_Taxes_Details
Note 11 - Income Taxes (Details) (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% |
Retained Earnings with no Provision For Income Tax | $1,466,000 | $1,466,000 |
Note_11_Income_Taxes_Details_I
Note 11 - Income Taxes (Details) - Income Tax Expense (Benefit) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 |
Current income tax expense (benefit): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | $7 | ($394) |
State | ' | ' | ' | ' | ' | ' | ' | ' | 93 | -99 |
' | ' | ' | ' | ' | ' | ' | ' | 100 | -493 | |
Deferred income tax expense (benefi)t: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | 408 | -384 |
State | ' | ' | ' | ' | ' | ' | ' | ' | 40 | -110 |
' | ' | ' | ' | ' | ' | ' | ' | 448 | -494 | |
$160 | $127 | $132 | $129 | $100 | $44 | ($1,047) | ($84) | $548 | ($987) |
Note_11_Income_Taxes_Details_E
Note 11 - Income Taxes (Details) - Effective Income Tax Rate Reconciliation (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 |
Effective Income Tax Rate Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal income tax at statutory rate | ' | ' | ' | ' | ' | ' | ' | ' | $522 | ($807) |
Federal income tax at statutory rate | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | 34.00% |
State tax, net of federal benefit | ' | ' | ' | ' | ' | ' | ' | ' | 88 | -138 |
State tax, net of federal benefit | ' | ' | ' | ' | ' | ' | ' | ' | 5.80% | 5.80% |
Bank Owned Life Insurance | ' | ' | ' | ' | ' | ' | ' | ' | -74 | -69 |
Bank Owned Life Insurance | ' | ' | ' | ' | ' | ' | ' | ' | -4.80% | 2.90% |
Stock options | ' | ' | ' | ' | ' | ' | ' | ' | -19 | 57 |
Stock options | ' | ' | ' | ' | ' | ' | ' | ' | -1.30% | -2.40% |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 31 | -30 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 1.30% |
$160 | $127 | $132 | $129 | $100 | $44 | ($1,047) | ($84) | $548 | ($987) | |
' | ' | ' | ' | ' | ' | ' | ' | 35.70% | 41.60% |
Note_11_Income_Taxes_Details_C
Note 11 - Income Taxes (Details) - Components of Deferred Tax Assets and Liabilities (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Allowances for losses on loans and commitments | $1,484 | $1,717 |
Uncollected interest | 142 | 425 |
Benefit plans | 1,007 | 962 |
Restricted stock award | 72 | 72 |
Other | 63 | 56 |
2,768 | 3,232 | |
Deferred tax liabilities | ' | ' |
Depreciation | -148 | -166 |
Net deferred tax asset | $2,620 | $3,066 |
Note_12_Benefit_Plans_Details
Note 12 - Benefit Plans (Details) (USD $) | 1 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
Nov. 24, 2009 | 9-May-08 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Nov. 09, 2009 | 9-May-08 | Dec. 14, 2009 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 14, 2009 | Jun. 30, 2014 | Jun. 30, 2013 | |
Employee Stock Option [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Deferred Profit Sharing [Member] | Directors Retirement Plan [Member] | Directors Retirement Plan [Member] | Directors Retirement Plan [Member] | Executive Incentive Retirement Plan [Member] | Executive Incentive Retirement Plan [Member] | ||||||||||||||
Note 12 - Benefit Plans (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $69,000 | ' | ' | $31,000 | ' |
Defined Benefit Plan, Accumulated Other Comprehensive Income Net Prior Service Cost (Credit), after Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 244,000 | 240,000 | 182,000 | 188,000 |
Defined Benefit Plan, Accumulated Other Comprehensive Income Net Prior Service Cost Credit, Tax | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | 96,000 | 98,000 | ' | 73,000 | 75,000 |
Defined Benefit Plan, Benefit Costs Expected To Be Recognized In Net Periodic Plan Cost In Subsequent Fiscal Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,000 | ' | ' | 29,000 | ' |
Defined Contribution Plan Employer Contribution Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Contribution Plan Maximum Annual Contributions Per Employee with Employer Match,Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Contribution Plan, Cost Recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,000 | 48,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan Eligibility Minimum Employment Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan Eligibility Minimum Age | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '21 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan Eligibility Minimum Hours of Service | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1000 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer Loan To Employee Stock Ownership Plan | ' | ' | 2,023,420 | ' | ' | ' | ' | ' | ' | ' | 2,023,420 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Shares in ESOP (in Shares) | ' | ' | 202,342 | ' | ' | ' | 202,342 | ' | ' | ' | 202,342 | 202,342 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer Loan To Employee Stock Ownership Plan, Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan, Number Of Shares Allocated Per Month (in Shares) (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,405 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131,000 | 111,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | 275,410 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 385,574 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | ' | $10.75 | $10.75 | ' | ' | ' | $10.75 | ' | ' | ' | $10.75 | $10.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | ' | '20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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, Fair Value Assumptions, Risk Free Interest Rate | ' | 3.33% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | ' | '6 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | 24.23% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | 1.11% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock or Unit Option Plan Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 137,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in Shares) | 110,164 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross | 932,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110,164 | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 180,000 | 180,000 | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ' | ' | 160,000 | 127,000 | 132,000 | 129,000 | 100,000 | 44,000 | -1,047,000 | -84,000 | 548,000 | -987,000 | ' | ' | ' | 72,000 | -72,000 | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $82,000 | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' |
Note_12_Benefit_Plans_Details_
Note 12 - Benefit Plans (Details) - Net Funded Status (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Directors Retirement Plan [Member] | ' | ' |
Note 12 - Benefit Plans (Details) - Net Funded Status [Line Items] | ' | ' |
Accumulated benefit obligation – ending | $1,356 | $1,231 |
Projected benefit obligation – beginning | 1,380 | 1,340 |
Service cost | 22 | 17 |
Interest cost | 67 | 56 |
19 | -10 | |
Benefit payments | -34 | -23 |
Funded status at end of year (included in other liabilities) | 1,454 | 1,380 |
Assumptions: | ' | ' |
Discount rate | 4.50% | 5.00% |
Rate of compensation increase | 3.00% | 3.00% |
Projected benefit obligation – beginning | 1,454 | 1,380 |
Employer contribution | 34 | 23 |
Executive Incentive Retirement Plan [Member] | ' | ' |
Note 12 - Benefit Plans (Details) - Net Funded Status [Line Items] | ' | ' |
Accumulated benefit obligation – ending | 459 | 442 |
Projected benefit obligation – beginning | 442 | 472 |
Service cost | 39 | 47 |
Interest cost | 22 | 20 |
-22 | -76 | |
Benefit payments | -22 | -21 |
Assumptions: | ' | ' |
Discount rate | 4.50% | 5.00% |
Projected benefit obligation – beginning | $459 | $442 |
Note_12_Benefit_Plans_Details_1
Note 12 - Benefit Plans (Details) - Net Periodic Pension Cost (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Note 12 - Benefit Plans (Details) - Net Periodic Pension Cost [Line Items] | ' | ' |
Amortization of unrecognized gain | $6 | ($11) |
Directors Retirement Plan [Member] | ' | ' |
Note 12 - Benefit Plans (Details) - Net Periodic Pension Cost [Line Items] | ' | ' |
Service cost | 22 | 17 |
Interest cost | 67 | 56 |
Amortization of unrecognized loss | 17 | 33 |
Amortization of unrecognized past service liability | 4 | 11 |
Net periodic pension cost | 110 | 117 |
Assumptions: | ' | ' |
Discount rate | 5.00% | 4.25% |
Rate of compensation | 3.00% | 3.00% |
Executive Incentive Retirement Plan [Member] | ' | ' |
Note 12 - Benefit Plans (Details) - Net Periodic Pension Cost [Line Items] | ' | ' |
Service cost | 39 | 47 |
Interest cost | 22 | 20 |
Amortization of unrecognized gain | -28 | -16 |
Net periodic pension cost | $33 | $51 |
Assumptions: | ' | ' |
Discount rate | 5.00% | 4.25% |
Note_12_Benefit_Plans_Details_2
Note 12 - Benefit Plans (Details) - Estimated Future Benefit Payments (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Directors Retirement Plan [Member] | ' |
Note 12 - Benefit Plans (Details) - Estimated Future Benefit Payments [Line Items] | ' |
2015 | $69 |
2016 | 96 |
2017 | 103 |
2018 | 110 |
2019 | 130 |
2020 – 2023 | 742 |
Executive Incentive Retirement Plan [Member] | ' |
Note 12 - Benefit Plans (Details) - Estimated Future Benefit Payments [Line Items] | ' |
2015 | 31 |
2016 | 31 |
2017 | 32 |
2018 | 32 |
2019 | 33 |
2020 – 2023 | $233 |
Note_12_Benefit_Plans_Details_3
Note 12 - Benefit Plans (Details) - ESOP Plan Activity (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
ESOP Plan Activity [Abstract] | ' | ' |
Allocated shares - beginning | 109,602 | 92,741 |
Shares allocated during the year | 16,862 | 16,861 |
Allocated shares - ending | 126,464 | 109,602 |
Total ESOP Shares | 202,342 | 202,342 |
Fair value of unallocated shares (in Dollars) | $614,612 | $669,576 |
Note_12_Benefit_Plans_Details_4
Note 12 - Benefit Plans (Details) - Summary of Stock Options (USD $) | 12 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | 9-May-08 | |
Summary of Stock Options [Abstract] | ' | ' | ' |
Options outstanding | 275,410 | 275,410 | ' |
Options outstanding, weighted average exercise price | $10.75 | $10.75 | $10.75 |
Options outstanding, weighted average remaining contractual term | '3 years 292 days | '4 years 292 days | ' |
Exercisable at June 30, 2014 | 275,410 | ' | ' |
Exercisable at June 30, 2014 | $10.75 | ' | ' |
Exercisable at June 30, 2014 | '3 years 292 days | ' | ' |
Note_12_Benefit_Plans_Details_5
Note 12 - Benefit Plans (Details) - Restricted Stock Activity (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Restricted Stock Activity [Abstract] | ' | ' |
Restricted Stock | 22,492 | 44,076 |
Weighted Average Grant Date Fair Value | $8.15 | $8.15 |
Vested | -21,584 | ' |
Vested | $8.15 | ' |
Note_13_Transactions_with_Offi1
Note 13 - Transactions with Officers and Directors (Details) (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Note 13 - Transactions with Officers and Directors (Details) [Line Items] | ' | ' |
Loans and Leases Receivable, Related Parties | $7,728,000 | $9,956,000 |
Loans and Leases Receivable, Related Parties, Additions | 755,000 | ' |
Loans and Leases Receivable, Related Parties, Collections | 571,000 | ' |
Director [Member] | ' | ' |
Note 13 - Transactions with Officers and Directors (Details) [Line Items] | ' | ' |
Loans and Leases Receivable, Related Parties, Collections | $2,412,000 | ' |
Note_14_Regulatory_Capital_Det
Note 14 - Regulatory Capital (Details) - Reconciliation of GAAP Capital and Regulatory Capital (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tangible | $35,862 | $34,651 |
Tangible | 10.39% | 9.93% |
Tangible | 5,179 | 5,234 |
Tangible | ' | ' |
Core (leverage) | 35,862 | 34,651 |
Core (leverage) | 10.39% | 9.93% |
Core (leverage) | 13,812 | 13,958 |
Core (leverage) | 17,264 | 17,447 |
Tier 1 risk-based | 35,862 | 34,651 |
Tier 1 risk-based | 17.45% | 16.87% |
Tier 1 risk-based | 8,221 | 8,216 |
Tier 1 risk-based | 12,331 | 12,324 |
Total risk-based | 38,444 | 37,243 |
Total risk-based | 18.71% | 18.13% |
Total risk-based | 16,442 | 16,432 |
Total risk-based | $20,552 | $20,539 |
Minimum [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tangible | 1.50% | 1.50% |
Tangible | ' | ' |
Core (leverage) | 4.00% | 4.00% |
Core (leverage) | 5.00% | 5.00% |
Tier 1 risk-based | 4.00% | 4.00% |
Tier 1 risk-based | 6.00% | 6.00% |
Total risk-based | 8.00% | 8.00% |
Total risk-based | 10.00% | 10.00% |
Note_15_Commitments_and_Contin2
Note 15 - Commitments and Contingencies (Details) (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment (in Dollars) | 22,462,000 | 31,657,000 |
Fixed Rate Residential Mortgage [Member] | Commitments To Grant Loans [Member] | Minimum [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | ' | 3.13% |
Fixed Rate Residential Mortgage [Member] | Commitments To Grant Loans [Member] | Maximum [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | ' | 4.50% |
Fixed Rate Residential Mortgage [Member] | Commitments To Grant Loans [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment (in Dollars) | 172,000 | 871,342 |
Other Commitment, Interest Rate | 4.00% | ' |
Adjustable Rate Residential Mortgage [Member] | Commitments To Grant Loans [Member] | Initial Rate [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | 4.00% | 3.25% |
Adjustable Rate Residential Mortgage [Member] | Commitments To Grant Loans [Member] | Interest Rate As After Ten Years [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | 6.25% | 6.00% |
Adjustable Rate Residential Mortgage [Member] | Commitments To Grant Loans [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment (in Dollars) | 200,000 | 2,700,000 |
Commercial Real Estate Loan [Member] | Commitments To Grant Loans [Member] | Initial Rate [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | 4.00% | ' |
Commercial Real Estate Loan [Member] | Commitments To Grant Loans [Member] | Loan Terms Years Five Through Ten [Member] | Prime Rate [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | 1.00% | ' |
Commercial Real Estate Loan [Member] | Commitments To Grant Loans [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment (in Dollars) | 1,750,000 | ' |
Balloon Payment Term | '10 years | ' |
Amortization Period | '20 years | ' |
Residential Mortgage: Home Equity [Member] | Unfunded Commitments Under Lines Of Credit [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment (in Dollars) | 16,805,706 | 19,398,349 |
Consumer: Overdraft Protection [Member] | Unfunded Commitments Under Lines Of Credit [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment (in Dollars) | 547,058 | 541,890 |
Commercial Loan [Member] | Unfunded Commitments Under Lines Of Credit [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment (in Dollars) | 2,740,392 | 3,718,882 |
Variable Rate Loans [Member] | Commitments To Grant Loans [Member] | Prime Rate [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | ' | 1.00% |
Variable Rate Loans [Member] | Commitments To Grant Loans [Member] | Minimum [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | ' | 5.00% |
Variable Rate Loans [Member] | Commitments To Grant Loans [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment (in Dollars) | ' | 4,100,000 |
Unfunded Commitments Under Lines Of Credit [Member] | Prime Rate [Member] | Minimum [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | 1.00% | 1.00% |
Unfunded Commitments Under Lines Of Credit [Member] | Prime Rate [Member] | Maximum [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) [Line Items] | ' | ' |
Other Commitment, Interest Rate | 4.00% | 4.00% |
Note_15_Commitments_and_Contin3
Note 15 - Commitments and Contingencies (Details) - Financial Instruments Whose Contract Amounts Represent Credit Risk (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
Note 15 - Commitments and Contingencies (Details) - Financial Instruments Whose Contract Amounts Represent Credit Risk [Line Items] | ' | ' |
Financial instrument | $22,462,000 | $31,657,000 |
Commitments To Grant Loans [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) - Financial Instruments Whose Contract Amounts Represent Credit Risk [Line Items] | ' | ' |
Financial instrument | 2,122,000 | 7,671,000 |
Unfunded Commitments Under Lines Of Credit [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) - Financial Instruments Whose Contract Amounts Represent Credit Risk [Line Items] | ' | ' |
Financial instrument | 20,093,000 | 23,659,000 |
Standby Letters of Credit [Member] | ' | ' |
Note 15 - Commitments and Contingencies (Details) - Financial Instruments Whose Contract Amounts Represent Credit Risk [Line Items] | ' | ' |
Financial instrument | $247,000 | $327,000 |
Note_16_Fair_Value_Measurement2
Note 16 - Fair Value Measurements (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value Disclosures [Abstract] | ' | ' |
Assets, Fair Value Disclosure, Recurring | $0 | $0 |
Note_16_Fair_Value_Measurement3
Note 16 - Fair Value Measurements (Details) - Fair Value Assets Measured on Nonrecurring Basis (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Fair Value Assets Measured on Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $0 | $0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Fair Value Assets Measured on Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Fair Value Assets Measured on Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 2,789 | 15,066 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Fair Value Assets Measured on Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $2,789 | $15,066 |
Note_16_Fair_Value_Measurement4
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets (Fair Value, Inputs, Level 3 [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Appraisal Adjustments [Member] | Minimum [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | 0.00% | ' |
Weighted Average | 0.00% | ' |
Appraisal Adjustments [Member] | Maximum [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | -19.40% | ' |
Weighted Average | 19.40% | ' |
Appraisal Adjustments [Member] | Weighted Average [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | 1.10% | ' |
Weighted Average | -1.10% | ' |
Appraisal Adjustments [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Fair Value Estimate (in Dollars) | 2,789 | ' |
Valuation Techniques | 'Appraisal of Collateral | ' |
Liquidation Expenses [Member] | Minimum [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | 4.20% | 0.11% |
Weighted Average | -4.20% | -0.11% |
Liquidation Expenses [Member] | Maximum [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | -57.90% | -27.40% |
Weighted Average | 57.90% | 27.40% |
Liquidation Expenses [Member] | Weighted Average [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | 7.70% | 7.90% |
Weighted Average | -7.70% | -7.90% |
Minimum [Member] | Appraisal Adjustments [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | ' | 0.00% |
Weighted Average | ' | 0.00% |
Maximum [Member] | Appraisal Adjustments [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | ' | -37.90% |
Weighted Average | ' | 37.90% |
Weighted Average [Member] | Appraisal Adjustments [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Range | ' | 3.50% |
Weighted Average | ' | -3.50% |
Appraisal Adjustments [Member] | ' | ' |
Note 16 - Fair Value Measurements (Details) - Additional Qualitative Information About Level 3 Assets [Line Items] | ' | ' |
Fair Value Estimate (in Dollars) | ' | 15,066 |
Valuation Techniques | ' | 'Appraisal of collateral |
Note_16_Fair_Value_Measurement5
Note 16 - Fair Value Measurements (Details) - Fair Value, Assets and Liabilities (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ||
Securities held to maturity | $83,636 | $78,367 | ||
Carrying Amount [Member] | ' | ' | ||
Financial assets: | ' | ' | ||
Securities held to maturity | 84,932 | 80,912 | ||
Loans receivable | 230,275 | [1] | 223,256 | [1] |
Financial liabilities: | ' | ' | ||
Certificate of deposits | 98,528 | 109,948 | ||
Advances from Federal Home Loan Bank of New York | 38,000 | 30,000 | ||
Estimate of Fair Value Measurement [Member] | ' | ' | ||
Financial assets: | ' | ' | ||
Securities held to maturity | 83,636 | 78,367 | ||
Loans receivable | 230,300 | [1] | 227,556 | [1] |
Financial liabilities: | ' | ' | ||
Certificate of deposits | 100,120 | 111,797 | ||
Advances from Federal Home Loan Bank of New York | 39,281 | 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 | 83,636 | 78,367 | ||
Loans receivable | ' | [1] | ' | [1] |
Financial liabilities: | ' | ' | ||
Certificate of deposits | 100,120 | 111,797 | ||
Advances from Federal Home Loan Bank of New York | 39,281 | 32,208 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Financial assets: | ' | ' | ||
Loans receivable | $230,300 | [1] | $227,556 | [1] |
[1] | Includes impaired loans measured at fair value on a non-recurring basis as discussed above. |
Note_17_Parent_Only_Financial_2
Note 17 - Parent Only Financial Statements (Details) - Condensed Statements of Financial Condition (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $6,432 | $19,941 |
Loan receivable | 230,275 | 223,256 |
Other assets | 3,192 | 4,282 |
Total Assets | 345,246 | 352,592 |
Liabilities | ' | ' |
Other liabilities | 2,553 | 2,480 |
Total liabilities | 304,436 | 313,079 |
Stockholders’ Equity | ' | ' |
Common stock | 562 | 562 |
Retained earnings | 21,670 | 20,682 |
Unallocated common stock held by ESOP | -759 | -927 |
Treasury stock | -5,244 | -5,244 |
Total Stockholders’ Equity | 40,810 | 39,513 |
Total Liabilities and Stockholders’ Equity | 345,246 | 352,592 |
Parent Company [Member] | ' | ' |
Assets | ' | ' |
Cash and due from banks | 3,232 | 2,994 |
Loan receivable | 996 | 1,172 |
Investments in subsidiaries | 36,504 | 35,257 |
Other assets | 178 | 1,172 |
Total Assets | 40,910 | 40,595 |
Liabilities | ' | ' |
Other liabilities | 100 | 1,082 |
Total liabilities | 100 | 1,082 |
Stockholders’ Equity | ' | ' |
Common stock | 562 | 562 |
Paid-in capital | 24,616 | 24,473 |
Retained earnings | 21,670 | 20,682 |
Unallocated common stock held by ESOP | -759 | -927 |
Treasury stock | -5,244 | -5,244 |
Accumulated other comprehensive loss | -35 | -33 |
Total Stockholders’ Equity | 40,810 | 39,513 |
Total Liabilities and Stockholders’ Equity | $40,910 | $40,595 |
Note_17_Parent_Only_Financial_3
Note 17 - Parent Only Financial Statements (Details) - Condensed Statements of Comprehensive (Loss) Income (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-interest expense | $2,017,000 | $2,117,000 | $2,037,000 | $1,987,000 | $1,975,000 | $2,188,000 | $2,122,000 | $2,004,000 | $8,158,000 | $8,289,000 |
Income (Loss) Before Income Taxes | 406,000 | 370,000 | 383,000 | 377,000 | 293,000 | 133,000 | -2,622,000 | -176,000 | 1,536,000 | -2,372,000 |
Income tax benefit | 160,000 | 127,000 | 132,000 | 129,000 | 100,000 | 44,000 | -1,047,000 | -84,000 | 548,000 | -987,000 |
Net Income (Loss) | 246,000 | 243,000 | 251,000 | 248,000 | 193,000 | 89,000 | -1,575,000 | -92,000 | 988,000 | -1,385,000 |
Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 986,000 | -1,317,000 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in undistributed earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 1,118,000 | -1,272,000 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 91,000 | 105,000 |
Non-interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -226,000 | -221,000 |
Income (Loss) Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 983,000 | -1,388,000 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -5,000 | -3,000 |
Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 988,000 | -1,385,000 |
Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | $986,000 | ($1,317,000) |
Note_17_Parent_Only_Financial_4
Note 17 - Parent Only Financial Statements (Details) - Condensed Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash Flows from Operating Activities | ' | ' |
Net income (loss) | $988 | ($1,385) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' |
Net Cash Provided by (Used in) Operating Activities | 3,095 | 3,127 |
Cash Flows from Investing Activities | ' | ' |
Net Cash Provided by Investing Activities | -11,826 | -18,301 |
Cash Flows from Financing Activities | ' | ' |
Purchase of treasury stock | ' | -476 |
Net Cash Used in Financing Activities | -8,716 | 6,172 |
Net Increase (Decrease) in Cash and Cash Equivalents | -17,447 | -9,002 |
Cash and Cash Equivalents | 7,308 | 24,755 |
Beginning of Period [Member] | Parent Company [Member] | ' | ' |
Cash Flows from Financing Activities | ' | ' |
Cash and Cash Equivalents | 2,994 | 4,389 |
End of Period [Member] | Parent Company [Member] | ' | ' |
Cash Flows from Financing Activities | ' | ' |
Cash and Cash Equivalents | 3,232 | 2,994 |
Parent Company [Member] | ' | ' |
Cash Flows from Operating Activities | ' | ' |
Net income (loss) | 988 | -1,385 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' |
Equity in undistributed earnings of subsidiaries | -1,118 | 1,272 |
Net change in other assets and liabilities | 192 | 88 |
Net Cash Provided by (Used in) Operating Activities | 62 | -25 |
Cash Flows from Investing Activities | ' | ' |
Repayment of ESOP loan receivable | 176 | 162 |
Net Cash Provided by Investing Activities | 176 | 162 |
Cash Flows from Financing Activities | ' | ' |
Dividends paid to minority stockholders | ' | -56 |
Purchase of treasury stock | ' | -476 |
Capital distribution to Bank | ' | -1,000 |
Net Cash Used in Financing Activities | ' | -1,532 |
Net Increase (Decrease) in Cash and Cash Equivalents | $238 | ($1,395) |
Note_18_Quarterly_Results_of_O2
Note 18 - Quarterly Results of Operations (Unaudited) (Details) - Quarterly Results of Operations (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 |
Quarterly Results of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | $2,984 | $3,038 | $3,005 | $2,965 | $2,905 | $2,985 | $3,000 | $3,142 | $11,992 | $12,032 |
Interest expense | 588 | 585 | 617 | 632 | 657 | 648 | 689 | 727 | 2,422 | 2,721 |
Net Interest Income | 2,396 | 2,453 | 2,388 | 2,333 | 2,248 | 2,337 | 2,311 | 2,415 | 9,570 | 9,311 |
Provision for loan losses | 150 | 150 | 150 | 150 | 150 | 175 | 2,973 | 746 | 600 | 4,044 |
Net Interest Income after Provision for Loan Losses | 2,246 | 2,303 | 2,238 | 2,183 | 2,098 | 2,162 | -662 | 1,669 | 8,970 | 5,267 |
Non-interest income | 177 | 184 | 182 | 181 | 170 | 159 | 162 | 159 | 724 | 650 |
Non-interest expenses | 2,017 | 2,117 | 2,037 | 1,987 | 1,975 | 2,188 | 2,122 | 2,004 | 8,158 | 8,289 |
Income before Income Taxes | 406 | 370 | 383 | 377 | 293 | 133 | -2,622 | -176 | 1,536 | -2,372 |
Income tax expense | 160 | 127 | 132 | 129 | 100 | 44 | -1,047 | -84 | 548 | -987 |
Net Income | $246 | $243 | $251 | $248 | $193 | $89 | ($1,575) | ($92) | $988 | ($1,385) |
Earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic and diluted (in Dollars per share) | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.02 | ($0.32) | ($0.02) | $0.20 | ($0.28) |
Note_19_Reclassifications_Out_2
Note 19 - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - Reclassifications Out of Accumulated Other Comprehensive Income (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | |
Amortization of defined benefit pension items: | ' | |
Prior service costs | ($4) | [1],[2] |
Unrecognized loss | -17 | [1],[2] |
Unrecognized gain | 28 | [1],[2] |
7 | [1] | |
-3 | [1] | |
Total reclassifications for the period | $4 | [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 12 for additional details). |