Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Sep. 30, 2017 | Nov. 06, 2017 | |
Document and Entity Information | ||
Entity Registrant Name | Anchor Bancorp | |
Entity Central Index Key | 1,448,301 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Smaller Reporting Company | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 2,494,940 |
ANCHOR BANCORP AND SUBSIDIARY C
ANCHOR BANCORP AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 8,925 | $ 14,194 |
Securities available for sale, at fair value | 20,240 | 21,170 |
Securities held to maturity, at amortized cost | 4,553 | 4,949 |
Loans Receivable Held-for-sale, Amount | 0 | 1,551 |
Loans receivable, net of allowance for loan losses | 383,221 | 377,908 |
Life Insurance Investment, net of surrender charges | 20,159 | 20,030 |
Accrued interest receivable | 1,344 | 1,332 |
Real estate owned, net | 2,658 | 867 |
Federal Home Loan Bank (FHLB) stock, at cost | 2,036 | 2,348 |
Property, premises and equipment, at cost, less accumulated depreciation | 9,037 | 9,360 |
Deferred tax asset, net | 7,666 | 8,011 |
Prepaid expenses and other assets | 548 | 805 |
Total assets | 460,387 | 462,525 |
Deposits: | ||
Noninterest-bearing | 54,474 | 52,606 |
Interest-bearing | 293,902 | 292,581 |
Total deposits | 348,376 | 345,187 |
FHLB advances | 37,700 | 45,500 |
Advance payments by borrowers for taxes and insurance | 1,903 | 1,195 |
Supplemental Executive Retirement Plan liability | 1,717 | 1,709 |
Accounts payable and other liabilities | 3,915 | 3,083 |
Total liabilities | 393,611 | 396,674 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $0.01 par value per share | 0 | 0 |
Common stock, $0.01 par value per share | 25 | 25 |
Additional paid-in capital | 22,447 | 22,619 |
Retained earnings | 45,629 | 44,585 |
Unearned Employee stock ownership plan (ESOP) shares | (590) | (607) |
Accumulated other comprehensive loss, net of tax | (735) | (771) |
Total stockholders' equity | 66,776 | 65,851 |
Total liabilities and stockholders' equity | $ 460,387 | $ 462,525 |
ANCHOR BANCORP AND SUBSIDIARY 3
ANCHOR BANCORP AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - Parenthetical (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
ASSETS | ||
Amortized cost of securities available for sale | $ 20,407 | $ 21,391 |
Securities held to maturity | 4,575 | 4,954 |
Allowance for loan losses on loans receivable | 4,017 | 4,106 |
Accumulated depreciation of property, premises and equipment | $ 12,128 | $ 11,971 |
STOCKHOLDERS' EQUITY | ||
Preferred stock par value per share | $ 0.01 | $ 0.01 |
Preferred stock shares authorized | 5,000,000 | 5,000,000 |
Preferred stock shares issued | 0 | 0 |
Preferred stock shares outstanding | 0 | 0 |
Common stock par value per share | $ 0.01 | $ 0.01 |
Common stock shares authorized | 45,000,000 | 45,000,000 |
Common stock shares issued | 2,494,940 | 2,504,740 |
Common stock shares outstanding | 2,494,940 | 2,504,740 |
ANCHOR BANCORP AND SUBSIDIARY 4
ANCHOR BANCORP AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Interest Income: | ||
Loans receivable, including fees | $ 5,133 | $ 4,652 |
Securities | 34 | 23 |
Mortgage-backed securities | 130 | 166 |
Total Interest Income | 5,297 | 4,841 |
Interest Expense: | ||
Deposits | 842 | 619 |
FHLB advances | 109 | 149 |
Total Interest Expense | 951 | 768 |
Net Interest Income before provision for loan losses | 4,346 | 4,073 |
Provision for loan losses | 75 | 75 |
Net Interest Income after provision for loan losses | 4,271 | 3,998 |
Noninterest income | ||
Deposit service fees | 313 | 348 |
Other deposit fees | 199 | 194 |
Other loan fees | 228 | 235 |
Gain on sale of loans | 110 | 101 |
Bank Owned Life Insurance Income | 129 | 132 |
Other income | 193 | 147 |
Total noninterest income | 1,172 | 1,157 |
Noninterest Expense | ||
Compensation and benefits | 2,084 | 2,310 |
General and administrative expenses | 574 | 736 |
Merger expense | 34 | 0 |
Real estate holding costs | 30 | 19 |
Federal Deposit Insurance Corporation (FDIC) insurance premiums | 36 | 69 |
Information technology | 537 | 485 |
Occupancy and equipment | 433 | 506 |
Deposit services | 104 | 111 |
Marketing | 91 | 100 |
Loss on sale of property, premises and equipment | 5 | 0 |
Gain on sale of real estate owned | 0 | (12) |
Total noninterest expense | 3,928 | 4,324 |
Income before provision for income tax | 1,515 | 831 |
Income Tax Expense (Benefit) | 471 | 258 |
Net income | $ 1,044 | $ 573 |
Basic earnings per share | $ 0.43 | $ 0.24 |
Diluted earnings per share | $ 0.43 | $ 0.24 |
Weighted Average Number of Shares Outstanding, Basic | 2,421,049 | 2,391,839 |
Weighted Average Number of Shares Outstanding, Diluted | 2,432,960 | 2,414,679 |
ANCHOR BANCORP AND SUBSIDIARY S
ANCHOR BANCORP AND SUBSIDIARY STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Other Comprehensive Income, Available-for-sale Securities, Tax | $ 19 | $ 7 |
Net income | 1,044 | 573 |
Other Comprehensive Income, net of income tax: | ||
Unrealized holding gains on available-for-sale securities during the period | 36 | 15 |
Other Comprehensive income, net of income tax: | 36 | 15 |
Comprehensive Income | $ 1,080 | $ 588 |
ANCHOR BANCORP AND SUBSIDIARY 6
ANCHOR BANCORP AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 1,044 | $ 573 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Depreciation and amortization | 158 | 175 |
Net amortization of premiums on securities | 70 | 75 |
Provision for loan losses | 75 | 75 |
ESOP expense | 43 | 44 |
Deferred Income Tax Expense (Benefit) | 326 | 258 |
Stock or Unit Option Plan Expense | 47 | 224 |
Life Insurance, Corporate or Bank Owned, Change in Value | (129) | (132) |
Gain on sale of loans | (110) | (101) |
Originations of loans held for sale | (1,994) | (6,881) |
Proceeds from sale of loans held for sale | 3,655 | 6,460 |
Loss on sale of property, premises and equipment | 5 | 0 |
Gain on sale of real estate owned | 0 | (12) |
Change in operating assets and liabilities: | ||
Accrued interest receivable | (12) | 13 |
Prepaid expenses, other assets, and income tax receivable | 257 | 920 |
Supplemental Executive Retirement Plan | 8 | 3 |
Accounts payable and other liabilities | 832 | 285 |
Net cash provided by operating activities | 4,275 | 1,979 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from Sales, Maturities and Calls of Available-for-sale Securities | 0 | 852 |
Principal payments on mortgage-backed securities available-for-sale | 937 | 1,280 |
Principal payments on mortgage-backed securities held-to-maturity | 374 | 275 |
Increase (Decrease) in Finance Receivables | (7,179) | (3,700) |
Proceeds from sale of real estate owned | 0 | 294 |
Proceeds from Sale of Property, Plant, and Equipment | 160 | 0 |
Payments for (Proceeds from) Productive Assets | 0 | (32) |
Payments for (Proceeds from) Federal Home Loan Bank Stock | 312 | 20 |
Net cash provided by (used in) investing activities | (5,396) | (1,011) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 3,189 | 3,312 |
Net change in advance payments by borrowers for taxes and insurance | 708 | 777 |
Proceeds from Federal Home Loan Bank Advances | 15,200 | 20,500 |
Repayment on FHLB advances | (23,000) | (21,000) |
Payments for Repurchase of Common Stock | 0 | (273) |
Stock award net settlement | (245) | (277) |
Net cash provided by (used in) financing activities | (4,148) | 3,039 |
Net Change in Cash and Cash Equivalents | (5,269) | 4,007 |
Beginning of period | 14,194 | |
End of period | 8,925 | 12,327 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 960 | 773 |
Income Taxes | 145 | 65 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES | ||
Net loans transferred to real estate owned | 1,791 | 168 |
Unrealized holding (gain) loss on available-for-sale securities, net of tax | 36 | 15 |
Transfer of Loans Held-for-sale to Portfolio Loans | $ 0 | $ 1,071 |
Nature of Business
Nature of Business | 3 Months Ended |
Sep. 30, 2017 | |
Nature of Business [Abstract] | |
Nature of Business | Note 1 - Nature of Business Anchor Bancorp (the “Company”), a Washington corporation, was formed in connection with the conversion of Anchor Mutual Savings Bank (the “Bank”) from the mutual to the stock form of organization. On January 25, 2011, the Bank completed its conversion from mutual to stock form, changed its name to “Anchor Bank” and became the wholly-owned subsidiary of the Company. Anchor Bank is a community-based savings bank primarily serving Western Washington through its 10 full-service bank offices (including one Wal-Mart in-store location) within Grays Harbor, Thurston, Lewis, Pierce, and Mason counties, and one loan production office located in King County, Washington. Anchor Bank’s business consists of attracting deposits from the public and utilizing those deposits to originate loans. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Description and Basis of Presentation | Note 2 - Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended June 30, 2017 (“2017 Form 10-K”). The results of operations for the three months ended September 30, 2017 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2018. Certain prior year amounts have been reclassified to conform to current fiscal year presentation. The reclassifications had no impact on previously reported consolidated net income or equity. The Company has evaluated events and transactions subsequent to September 30, 2017 for potential recognition or disclosure. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Recently Issued Accounting Pronouncements | Note 3 - Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606). In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606) which postponed the effective date of 2014-09. Subsequently, in March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations. This amendment clarifies that an entity should determine if it is the principal or the agent for each specified good or service promised in a contract with a customer. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. The core principle of Topic 606 is that an entity must recognize revenue when it has satisfied a performance obligation of transferring promised goods or services to a customer. The standard is effective for public entities for interim and annual periods beginning after December 15, 2017; early adoption is not permitted. The standard allows for full retrospective adoption for all periods presented or modified retrospective adoption to only the most current period presented in the financial statements. The cumulative effect of initially applying the standard is recognized at the date of the initial application. Our primary source of revenue is interest income, which is recognized as it is earned and is deemed to be in compliance with this ASU. With respect to noninterest income, the Company is in its preliminary stages of identifying and evaluating the revenue streams and underlying revenue contracts within the scope of the guidance. The Company is expecting to begin developing processes and procedures during 2017 to ensure it is fully compliant with these amendments at the date of adoption. To date, the Company has not yet identified any significant changes in the timing of revenue recognition when considering the amended accounting guidance; however, the Company’s implementation efforts are ongoing and such assessments may change prior to the January 1, 2018 implementation date. Accordingly, the Company does not expect implementation of this standard to have a material impact on our consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets . The new standard significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured as fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of ASU No. 2016-01 is not expected to have a material impact on the Company's consolidated financial statements. [Management is in the planning stages of developing processes and procedures to comply with the disclosures requirements of this ASU, which could impact the disclosures the Company makes related to fair value of its financial instruments]. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842 ). The amendments in this ASU require lessees to recognize the following for all leases (with the exception of short-term) at the commencement date; a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. The amendments in this ASU leave lessor accounting largely unchanged, although certain targeted improvements were made to align lessor accounting with the lessee accounting model. This ASU simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The effect of the adoption will depend on leases at time of adoption. Once adopted, we expect to report higher assets and liabilities as a result of including right-of-use assets and lease liabilities related to certain banking offices and certain equipment under noncancelable operating lease agreements, however, based on current leases the adoption is not expected to have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting , which amends ASC Topic 718, Compensation - Stock Compensation . The ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. The ASU was effective for annual and interim periods beginning after December 15, 2016. The Company adopted this standard effective January 1, 2017. The adoption of ASU No. 2016-09 did not have a material impact on the Company's consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. The standard will take effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Once adopted, we expect our allowance for loan losses to increase, however, until our evaluation is complete the magnitude of the increase will not be known. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), a consensus of the FASB’s Emerging Issues Task Force . The ASU is intended to reduce diversity in practice in how certain transactions are presented and classified in the statement of cash flows. The standard will take effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The adoption of ASU No. 2016-15 is not expected to have a material impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash . The ASU amends the required statement of cash flow disclosures to include the change in amounts generally described as restricted cash. The standard will take effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The adoption of ASU No. 2016-18 is not expected to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments-Equity Method and Joint Ventures (Topic 323): Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 and November 17, 2016 EITF Meetings (SEC Update). This ASU amends the Codification for SEC staff announcements made at recent Emerging Issues Task Force (EITF) meetings. The SEC staff view is that a registrant should evaluate ASU updates that have not yet been adopted to determine the appropriate financial disclosures about the potential material effects of the ASU on the financial statements when adopted. If a registrant does not know or cannot reasonably estimate the impact of an ASU, then in addition to making a statement to that effect, the registrant should consider additional qualitative financial statement disclosures to assist the reader in assessing the significance of the impact. The SEC staff expects the additional qualitative disclosures to include a description of the effect of the accounting policies expected to be applied compared to current accounting policies. Also, the registrant should describe the status of its process to implement the new standards and the significant implementation matters yet to be addressed. The amendments specifically addressed recent ASU amendments to Topic 326, Financial Instruments - Credit Losses; Topic 842, Leases; and Topic 606, Revenue from Contracts with Customers; although, the amendments apply to any subsequent amendments to guidance in the ASU. The Company has adopted the amendments in this ASU and appropriate disclosures have been included in this Note for each recently issued accounting standard. In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . The ASU shortens the amortization period for certain callable debt securities held at a premium. The standard will take effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The adoption of ASU No. 2017-08 is not expected to have a material impact on the Company's consolidated financial statements. In May 2017, the FASB issued ASU No. 2017-09, Compensation Stock Compensation (Topic 718): Scope of Modification Accounting . This ASU provides clarity on the guidance related to stock compensation when there has been changes to the terms or conditions of a share-based payment award to which an entity would be required to apply modification accounting under ASC 718. The ASU provides the three following criteria must be met in order to not account for the effect of the modification of terms or conditions: the fair value, the vesting conditions and the classification as an equity or liability instrument of the modified award is the same as the original award immediately before the original award is modified. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. The adoption of ASU No. 2017-09 is not expected to have a material impact on the Company's consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU amends the hedge accounting recognition and presentation requirements in ASC 815 to (1) improve the transparency and understandability of information conveyed to financial statement users about an entity’s risk management activities by better aligning the entity’s financial reporting for hedging relationships with those risk management activities and (2) reduce the complexity of and simplify the application of hedge accounting by preparers. The amendments in this ASU permit hedge accounting for hedging relationships involving nonfinancial risk and interest rate risk by removing certain limitations in cash flow and fair value hedging relationships. In addition, the ASU requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018 and early adoption is permitted. The adoption of ASU No. 2017-12 is not expected to have a material impact on the Company's consolidated financial statements. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 4 - Earnings Per Share ("EPS") Basic earnings per common share is the amount of earnings available to each share of common stock outstanding during the reporting period and is equal to net income divided by the weighted average number of shares outstanding during the period, without considering any dilutive items. Unvested share-based awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method described in ASC 260-10-45-60B. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the period adjusted to include the effect of potentially dilutive common shares that may be issued upon the vesting of restricted stock awards. Therefore, under the two-class method, the difference in EPS is not significant since the Company did not pay dividends. The following table details the calculation of basic and diluted earnings per share: For the Three Months Ended September 30, 2017 2016 (Dollars in thousands, except share data) Net income $ 1,044 $ 573 Earnings allocated to common shareholders $ 1,044 $ 573 Basic weighted-average common shares outstanding 2,421,049 2,391,839 Potentially dilutive incremental shares 11,911 22,840 Diluted weighted-average common shares outstanding 2,432,960 2,414,679 Basic earnings per share $ 0.43 $ 0.24 Diluted earnings per share $ 0.43 $ 0.24 Shares owned by the Company's ESOP that have not been allocated are not considered to be outstanding for the purpose of computing basic and diluted EPS. As of September 30, 2017 and June 30, 2017 there were 53,649 and 55,369 shares, respectively, which had not been allocated under the Company's ESOP. Potential dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. For both the three months ended September 30, 2017 and 2016, there were no anti-dilutive shares included in the computation of diluted earnings per share. |
Investments
Investments | 3 Months Ended |
Sep. 30, 2017 | |
Investments [Abstract] | |
Investments | Note 5 - Investments The amortized cost and estimated fair market values of investment securities as of September 30, 2017 and June 30, 2017 , were as follows: September 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Securities available-for-sale Municipal bonds $ 163 $ — $ — $ 163 Mortgage-backed securities: FHLMC (1) 10,766 110 (110 ) 10,766 FNMA (2) 8,970 — (153 ) 8,817 GNMA (3) 508 — (14 ) 494 $ 20,407 $ 110 $ (277 ) $ 20,240 Securities held-to-maturity Mortgage-backed securities: FHLMC $ 2,100 $ 50 $ (47 ) $ 2,103 FNMA 1,142 68 (16 ) 1,194 GNMA 1,311 — (32 ) 1,279 $ 4,553 $ 118 $ (95 ) $ 4,576 (1) Federal Home Loan Mortgage Corporation ("Freddie Mac") (2) Federal National Mortgage Association ("Fannie Mae") (3) Government National Mortgage Association ("Ginnie Mae") June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Securities available-for-sale Municipal bonds $ 165 $ — $ — $ 165 Mortgage-backed securities: FHLMC 11,140 88 (125 ) 11,103 FNMA 9,532 — (169 ) 9,363 GNMA 554 — (15 ) 539 $ 21,391 $ 88 $ (309 ) $ 21,170 Securities held-to-maturity Mortgage-backed securities: FHLMC $ 2,212 53 (52 ) $ 2,213 FNMA 1,209 71 (23 ) 1,257 GNMA 1,528 — (44 ) 1,484 $ 4,949 $ 124 $ (119 ) $ 4,954 There were 45 and 47 securities in an unrealized loss position at September 30, 2017 and June 30, 2017, respectively. The unrealized losses on investments in mortgage-backed securities relate principally to the general change in interest rates and illiquidity, and not credit quality, that has occurred since the securities' purchase dates, and such unrecognized losses or gains will continue to vary with general interest rate level fluctuations in the future. We do not intend to sell the temporarily impaired securities and it is not likely that we will be required to sell the securities prior to their maturity. We do expect to recover the entire amortized cost basis of the securities. The fair value of temporarily impaired securities, the amount of unrealized losses, and the length of time these unrealized losses existed as of the dates indicated, were as follows: Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2017 (In thousands) Securities available-for-sale Mortgage-backed securities: FHLMC $ 2,405 $ (20 ) $ 3,013 $ (90 ) $ 5,418 $ (110 ) FNMA 3,858 (22 ) 4,752 (132 ) 8,610 (154 ) GNMA — — 494 (13 ) 494 (13 ) $ 6,263 $ (42 ) $ 8,259 $ (235 ) $ 14,522 $ (277 ) Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2017 (In thousands) Securities held-to-maturity Mortgage-backed securities: FHLMC $ — $ — $ 1,468 $ (47 ) $ 1,468 $ (47 ) FNMA — — 510 (16 ) 510 (16 ) GNMA 835 (12 ) 444 (20 ) 1,279 (32 ) $ 835 $ (12 ) $ 2,422 $ (83 ) $ 3,257 $ (95 ) Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2017 (In thousands) Securities available-for-sale Mortgage-backed securities: FHLMC $ 2,626 $ (25 ) $ 3,185 $ (100 ) $ 5,811 $ (125 ) FNMA 4,578 (29 ) 4,563 (140 ) 9,141 (169 ) GNMA — — 539 (15 ) 539 (15 ) $ 7,204 $ (54 ) $ 8,287 $ (255 ) $ 15,491 $ (309 ) Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2017 (In thousands) Securities held-to-maturity Mortgage-backed securities: FHLMC $ — $ — $ 1,548 $ (52 ) $ 1,548 $ (52 ) FNMA — — 539 (23 ) 539 (23 ) GNMA 840 (13 ) 645 (31 ) 1,485 (44 ) $ 840 $ (13 ) $ 2,732 $ (106 ) $ 3,572 $ (119 ) Contractual maturities of securities at September 30, 2017 are listed below. Expected maturities of mortgage-backed securities may differ from contractual maturities because borrowers may have the right to call or prepay the obligations; therefore, these securities are classified separately with no specific maturity date. September 30, 2017 Amortized Cost Fair Value (In thousands) Securities available-for-sale Municipal bonds: Due after ten years $ 163 $ 163 Mortgage-backed securities: FHLMC 10,766 10,766 FNMA 8,970 8,817 GNMA 508 494 $ 20,407 $ 20,240 Securities held-to-maturity Mortgage-backed securities: FHLMC $ 2,100 $ 2,103 FNMA 1,142 1,193 GNMA 1,311 1,279 $ 4,553 $ 4,575 Sales of securities available-for-sale for the dates indicated are summarized as follows: Three Months Ended September 30, 2017 2016 (In thousands) Proceeds from maturities, sales and calls $ — 852 Pledged securities at the dates indicated are summarized as follows: September 30, 2017 June 30, 2017 Pledged to secure: Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Public deposits $ 4,942 $ 4,960 $ 5,143 $ 5,172 FHLB borrowings 920 956 977 1,009 Federal Reserve borrowing line 847 835 852 840 |
Loans Receivable, Net
Loans Receivable, Net | 3 Months Ended |
Sep. 30, 2017 | |
Loans Receivable, Net [Abstract] | |
Loans Receivable, Net | Note 6 - Loans Receivable, net Loans receivable consisted of the following at the dates indicated: September 30, 2017 June 30, 2017 (In thousands) Real estate: One-to-four family $ 61,555 $ 59,735 Multi-family 61,012 60,500 Commercial 148,867 155,525 Construction 60,963 49,151 Land 8,097 8,054 Total real estate 340,494 332,965 Consumer: Home equity 13,991 13,991 Credit cards 2,535 2,596 Automobile 573 627 Other consumer 1,484 1,524 Total consumer 18,583 18,738 Business: Commercial business 29,455 31,603 Total loans 388,532 383,306 Less: Deferred loan fees and loan premiums, net 1,294 1,292 Allowance for loan losses 4,017 4,106 Loans receivable, net $ 383,221 $ 377,908 Allowance for Loan Losses. The allowance for loan losses must be maintained at a level necessary to absorb specific losses on impaired loans and probable losses inherent in the loan portfolio. The assessment includes analysis of several different factors, including delinquency, charge-off rates and the changing risk profile of our loan portfolio, as well as local economic conditions such as unemployment rates, bankruptcies and vacancy rates of business and residential properties. The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2017: One-to- four family Multi- family Commercial real estate Construction Land Consumer (1) Commercial business Unallocated Three months ended 9/30/17 (In thousands) Allowance for loan losses : Beginning balance $ 495 $ 580 $ 1,566 $ 651 $ 120 $ 378 $ 316 $ — $ 4,106 Provision (benefit) for loan losses (207 ) 10 168 169 (1 ) (40 ) (24 ) — 75 Charge-offs — — (200 ) — — (1 ) — — (201 ) Recoveries 14 — — 1 — 17 5 — 37 Ending balance $ 302 $ 590 $ 1,534 $ 821 $ 119 $ 354 $ 297 $ — $ 4,017 (1) Consumer loans include home equity, credit cards, automobile, and other consumer loans. The only consumer loans with impairment are home equity loans. The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2016: One-to- four family Multi- family Commercial real estate Construction Land Consumer (1) Commercial business Unallocated Three months ended 9/30/16 (In thousands) Allowance for loan losses : Beginning balance $ 798 $ 454 $ 1,333 $ 271 $ 75 $ 516 $ 332 $ — $ 3,779 Provision (benefit) for loan losses (91 ) 9 (24 ) 108 35 42 (4 ) — 75 Charge-offs — — — — — (54 ) — — (54 ) Recoveries 10 — — 2 — 9 3 — 24 Ending balance $ 717 $ 463 $ 1,309 $ 381 $ 110 $ 513 $ 331 $ — $ 3,824 (1) Consumer loans include home equity, credit cards, automobile, and other consumer loans. The only consumer loans with impairment are home equity loans. A loan is considered impaired when the Company has determined that it may be unable to collect payments of principal or interest when due under the terms of the loan. In the process of identifying loans as impaired, management takes into consideration factors which include payment history and status, collateral value, financial condition of the borrower, and the probability of collecting scheduled payments in the future. Minor payment delays and insignificant payment shortfalls typically do not result in a loan being classified as impaired. The significance of payment delays and shortfalls is considered by management on a case by case basis, after taking into consideration the totality of circumstances surrounding the loans and the borrowers, including payment history and amounts of any payment shortfall, length and reason for delay, and likelihood of return to stable performance. Impairment is measured on a loan by loan basis for all loans in the portfolio except for the smaller groups of homogeneous consumer loans in the portfolio. The following table presents loans individually evaluated for impairment by class of loans as of September 30, 2017 : Recorded Investments Unpaid Principal Balance Related Allowance (In thousands) With no allowance recorded One-to-four family $ 1,613 $ 1,798 $ — Home equity 263 270 — Commercial business 353 422 — With an allowance recorded One-to-four family $ 2,957 $ 2,967 $ 125 Land 308 308 20 Home equity 260 260 41 Total One-to-four family $ 4,570 $ 4,765 $ 125 Land 308 308 20 Home equity 523 530 41 Commercial business 353 422 — Total $ 5,754 $ 6,025 $ 186 The following table presents loans individually evaluated for impairment by class of loans as of June 30, 2017 : Recorded Investments Unpaid Principal Balance Related Allowance (In thousands) With no allowance recorded One-to-four family $ 1,818 $ 1,991 $ — Commercial real estate 1,992 1,992 — Home equity 299 303 — Commercial business 606 668 — With an allowance recorded One-to-four family $ 3,210 $ 3,220 $ 143 Land 311 311 22 Home equity 262 262 32 Commercial business 23 23 1 Total One-to-four family $ 5,028 $ 5,211 $ 143 Commercial real estate 1,992 1,992 — Land 311 311 22 Home equity 561 565 32 Commercial business 629 691 1 Total $ 8,521 $ 8,770 $ 198 The following table presents the average recorded investment in loans individually evaluated for impairment and the interest income recognized for the three months ended September 30, 2017 and 2016: Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no allowance recorded One-to-four family $ 1,716 $ 3 $ 3,152 $ 14 Commercial real estate 996 — 433 — Land — — 180 1 Home equity 281 1 71 — Commercial business 480 1 108 1 With an allowance recorded One-to-four family $ 3,084 $ 11 $ 5,967 $ 16 Land 310 7 318 7 Home equity 261 1 366 1 Commercial business 12 — 118 — Total One-to-four family $ 4,800 $ 14 $ 9,119 $ 30 Commercial real estate 996 — 433 — Land 310 7 498 8 Home equity 543 2 437 1 Commercial business 491 — 226 1 Total $ 7,140 $ 23 $ 10,713 $ 40 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of September 30, 2017 : One-to-four family Multi- family Commercial real estate Construction Land Consumer(1) Commercial business Unallocated Total (In thousands) Allowance for loan losses: Ending balance $ 302 $ 590 $ 1,534 $ 821 $ 119 $ 354 $ 297 $ — $ 4,017 Ending balance: individually evaluated for impairment 125 — — — 20 41 — — 186 Ending balance: collectively evaluated for impairment $ 177 $ 590 $ 1,534 $ 821 $ 99 $ 313 $ 297 $ — $ 3,831 Loans receivable: Ending balance $ 61,555 $ 61,012 $ 148,867 $ 60,963 $ 8,097 $ 18,583 $ 29,455 $ — $ 388,532 Ending balance: individually evaluated for impairment 4,570 — — — 308 523 353 — 5,754 Ending balance: collectively evaluated for impairment $ 56,985 $ 61,012 $ 148,867 $ 60,963 $ 7,789 $ 18,060 $ 29,102 $ — $ 382,778 (1) Consumer loans include home equity, credit cards, auto and other consumer loans. The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2017: One-to-four family Multi- family Commercial real estate Construction Land Consumer(1) Commercial business Unallocated Total (In thousands) Allowance for loan losses: Ending balance $ 495 $ 580 $ 1,566 $ 651 $ 120 $ 378 $ 316 $ — $ 4,106 Ending balance: individually evaluated for impairment 143 — — — 22 32 1 — 198 Ending balance: collectively evaluated for impairment $ 352 $ 580 $ 1,566 $ 651 $ 98 $ 346 $ 315 $ — $ 3,908 Loans receivable: Ending balance $ 59,735 $ 60,500 $ 155,525 $ 49,151 $ 8,054 $ 18,738 $ 31,603 $ — $ 383,306 Ending balance: individually evaluated for impairment 5,028 — 1,992 — 311 561 629 — 8,521 Ending balance: collectively evaluated for impairment $ 54,707 $ 60,500 $ 153,533 $ 49,151 $ 7,743 $ 18,177 $ 30,974 $ — $ 374,785 (1) Consumer loans include home equity, credit cards, auto, and other consumer loans. Nonaccrual and Past Due Loans . Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on nonaccrual when, in management's opinion, the borrower may be unable to meet payment of obligations as they become due, as well as when required by regulatory provisions. The following table presents the recorded investment in nonaccrual loans by type of loans as of the dates indicated: September 30, 2017 June 30, 2017 (In thousands) One-to-four family $ 968 $ 1,170 Commercial — 1,992 Home equity 207 242 Commercial business 289 300 Total $ 1,464 $ 3,704 There were no loans past due 90 days or more and still accruing interest at September 30, 2017 and June 30, 2017. The following table presents past due loans, net of partial loan charge-offs, by class of loan, as of September 30, 2017 : 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due (1) Total Past Due Current Total Loans (In thousands) One-to-four family $ 732 $ 117 $ 968 $ 1,817 $ 59,738 $ 61,555 Multi-family — — — — 61,012 61,012 Commercial real estate — — — — 148,867 148,867 Construction — — — — 60,963 60,963 Land — — — — 8,097 8,097 Home equity 41 — 207 248 13,743 13,991 Credit cards 5 3 — 8 2,527 2,535 Automobile — — — — 573 573 Other consumer 2 7 — 9 1,475 1,484 Commercial business — — 289 289 29,166 29,455 Total $ 780 $ 127 $ 1,464 $ 2,371 $ 386,161 $ 388,532 (1) Includes loans on nonaccrual status. The following table presents past due loans, net of partial loan charge-offs, by class of loan as of June 30, 2017 : 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due (1) Total Past Due Current Total Loans (In thousands) One-to-four family $ 15 $ — $ 1,170 $ 1,185 $ 58,550 $ 59,735 Multi-family — — — — 60,500 60,500 Commercial real estate 187 — 1,992 2,179 153,346 155,525 Construction — — — — 49,151 49,151 Land — — — — 8,054 8,054 Home equity 16 4 242 262 13,729 13,991 Credit cards 13 — — 13 2,583 2,596 Automobile — — — — 627 627 Other consumer — 8 — 8 1,516 1,524 Commercial business 107 — 300 407 31,196 31,603 Total $ 338 $ 12 $ 3,704 $ 4,054 $ 379,252 $ 383,306 (1) Includes loans on nonaccrual status. Credit Quality Indicators. We utilize a ten-point risk rating system and assign a risk rating for all credit exposures. The risk rating system is designed to define the basic characteristics and identify risk elements of each credit extension. Credits risk rated 1 through 7 are considered to be “pass” credits. Pass credits can be assets where there is virtually no credit risk, such as cash secured loans with funds on deposit with the Bank. Pass credits also include credits that are on our watch and special mention lists, where the borrower exhibits potential weaknesses, which may, if not checked or corrected, negatively affect the borrower's financial capacity and threaten their ability to fulfill debt obligations in the future. A seasoned loan with a Debt Service Coverage Ratio ("DSCR") of greater than 1.00 is the minimum acceptable level for a "Pass Credit". Particular attention is paid to the coverage trend analysis as any loan with a declining DSCR trend may warrant a higher risk grade even if the current coverage is at or above the 1.00 threshold. Credits classified as Watch are risk rated 6 and possess weaknesses that deserve management's close attention. These assets do not expose the Bank to sufficient risk to warrant adverse classification in the substandard, doubtful or loss categories. We use this rating when a material documentation deficiency exists but correction is anticipated within an acceptable time frame. A loan classified as Watch may have the following characteristics: • Acceptable asset quality, but requiring increased monitoring. Strained liquidity and less than anticipated performance. The loan may be fully leveraged. • Apparent management weakness, perhaps demonstrated by an irregular flow of adequate and/or timely performance information required to support the credit. • The borrower has a plausible plan to correct problem(s) in the near future that is devoid of material uncertainties. • Lacks reserve capacity, so the risk rating will improve or decline in relatively short time (results of corrective actions should be apparent within six months or less). Credits classified as Special Mention are risk rated 7. These credits have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset. Special Mention assets are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. A loan classified as Special Mention may have the following characteristics: • Performance is poor or significantly less than expected. A debt service deficiency either exists or cannot be ruled out. • Generally an undesirable business credit. Assets in this category are protected, but are potentially weak. These assets constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of Substandard. Special Mention assets have potential weaknesses which may, if not checked or corrected, weaken the asset or inadequately protect the Bank's credit position at some future date. • Assets which might be detailed in this category include credits that the lending officer may be unable to supervise properly because of lack of expertise, an inadequate loan agreement, the condition of and control over collateral, failure to obtain proper documentation, or any other deviations from prudent lending practices. • An adverse trend in the borrower's operations or an imbalanced position in the balance sheet which does not jeopardize liquidation may best be handled by this classification. • A Special Mention classification should not be used as a compromise between a pass and substandard rating. Assets in which actual, not potential, weaknesses are evident and significant, and should be considered for more serious criticism. A loan classified as Substandard is risk rated 8. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. An asset is considered Substandard if it is inadequately protected by the current net worth and payment capacity of the borrower or of any collateral pledged. A loan classified as Substandard may have the following characteristics: • Unacceptable business credit. The asset is inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Assets so classified must have a well defined weakness or weaknesses that jeopardize the liquidation of the debt. • Though no loss is envisioned, the outlook is sufficiently uncertain to preclude ruling out the possibility. Some liquidation of assets will likely be necessary as a corrective measure. • Assets in this category may demonstrate performance problems such as debt servicing deficiencies with no immediate relief, including having a DSCR of less than 1.00 . Borrowers have an inability to adjust to prolonged and unfavorable industry or economic trends. Management's character and/or effectiveness have become suspect. A loan classified as Doubtful is risk rated 9 and has all the inherent weaknesses as those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values highly questionable is improbable. A loan classified as Doubtful is risk rated 9 and has the following characteristics: • The possibility of loss is extremely high, but because of certain important and reasonable specific pending factors which may work to the advantage and strengthening of the asset, its classification as an estimated loss is deferred until its more exact status may be determined. • Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral and refinancing plans. A loan risk rated 10 is a loan for which a total loss is expected. A loan classified as a Loss has the following characteristics: • An uncollectible asset or one of such little value that it does not warrant classification as an active, earning asset. Such an asset may, however, have recovery or salvageable value, but not to the point of deferring full write off, even though some recovery may occur in the future. • The Bank will charge off such assets as a loss during the accounting period in which they were identified. • Loan to be eliminated from the active loan reporting system via charge off. The following table presents the internally assigned grade as of September 30, 2017 , by class of loans: One-to- four family Multi- family Commercial real estate Construction Land Home equity Credit cards Automobile Other consumer Commercial business Total (In thousands) Grade: Pass $ 59,378 $ 60,489 $ 147,262 $ 60,963 $ 8,097 $ 13,247 $ 2,527 $ 573 $ 1,478 $ 28,363 $ 382,377 Watch 917 523 1,605 — — 371 8 — — 697 4,121 Special Mention 305 — — — — 16 — — — 106 427 Substandard 955 — — — — 357 — — 6 289 1,607 Doubtful — — — — — — — — — — — Total $ 61,555 $ 61,012 $ 148,867 $ 60,963 $ 8,097 $ 13,991 $ 2,535 $ 573 $ 1,484 $ 29,455 $ 388,532 The following table presents the internally assigned grade as of June 30, 2017 , by class of loans: One-to- four family Multi-family Commercial real estate Construction Land Home equity Credit cards Automobile Other consumer Commercial business Total (In thousands) Grade: Pass $ 57,075 $ 59,973 $ 150,762 $ 49,151 $ 7,743 $ 13,202 $ 2,583 $ 627 $ 1,510 $ 29,972 $ 372,598 Watch 984 527 2,771 — 311 361 13 — 6 1,224 6,197 Special Mention 646 — — — — 36 — — 1 107 790 Substandard 1,030 — 1,992 — — 392 — — 7 300 3,721 Doubtful — — — — — — — — — — — Total $ 59,735 $ 60,500 $ 155,525 $ 49,151 $ 8,054 $ 13,991 $ 2,596 $ 627 $ 1,524 $ 31,603 $ 383,306 Troubled Debt Restructures . A troubled debt restructure ("TDR") is a loan where the Company, for economic or legal reasons related to the borrower's financial condition, has granted a concession to the borrower that it would otherwise not consider so that the borrower can continue to make payments while minimizing the Company's potential loss. The modifications have included items such as lowering the interest rate on the loan for a period of time and extending the maturity date of the loan. These modifications are made only when there is a reasonable and attainable workout plan that has been agreed to by the borrower and is in the Bank's best interest. At September 30, 2017 , there were no commitments to lend additional funds to borrowers whose loans have been modified in a TDR. The following table presents TDRs by accrual versus nonaccrual status and by loan class as of September 30, 2017 : September 30, 2017 Accrual Status Nonaccrual Total Modifications (In thousands) One-to-four family $ 3,602 $ 124 $ 3,726 Land 308 — 308 Home equity 166 — 166 Commercial business 63 — 63 Total $ 4,139 $ 124 $ 4,263 The following table presents TDRs by accrual versus nonaccrual status and by loan class as of June 30, 2017 : June 30, 2017 Accrual Status Nonaccrual Total Modifications (In thousands) One-to-four family $ 3,622 $ 131 $ 3,753 Land 311 — 311 Home equity 169 — 169 Commercial business 87 — 87 Total $ 4,189 $ 131 $ 4,320 There were no new TDR loans, or renewals or modifications of existing TDR loans during the three months ended September 30, 2017 and 2016. For both the three months ended September 30, 2017 and 2016, there were no TDRs for which there was a payment default within 12 months of their restructure. |
Real Estate Owned, Net
Real Estate Owned, Net | 3 Months Ended |
Sep. 30, 2017 | |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |
Real Estate Owned, Net | Note 7 - Real Estate Owned, net The following table is a summary of REO activity for the three months ended September 30, 2017 and 2016: Three Months Ended September 30, 2017 2016 (In thousands) Balance at the beginning of the period $ 867 $ 373 Net loans transferred to real estate owned 1,791 168 Sales — (282 ) Gain on sale of REO — 12 Balance at the end of the period $ 2,658 $ 271 |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Employee Benefit Plans | Note 8 - Employee Benefit Plans On January 25, 2011, the Company established an ESOP for the benefit of substantially all employees. The ESOP borrowed $1.0 million from the Company and used those funds to acquire 102,000 shares of the Company's common stock at the time of the initial public offering at a price of $10.00 per share. Shares purchased by the ESOP with the loan proceeds are held in a suspense account and allocated to ESOP participants on a pro rata basis as principal and interest payments are made by the ESOP to the Company. The loan is secured by shares purchased with the loan proceeds and will be repaid by the ESOP with funds from the Company's discretionary contributions to the ESOP and earnings on the ESOP assets. Payments of principal and interest are due annually on June 30th, the Company's fiscal year end. As shares are committed to be released from collateral, the Company reports compensation expense equal to the daily average market prices of the shares and the shares become outstanding for EPS computations. The compensation expense is accrued throughout the year. Compensation expense related to the ESOP for the three months ended September 30, 2017 and 2016 was $43,000 and $44,000 , respectively. Shares held by the ESOP as of the dates indicated are as follows: September 30, 2017 June 30, 2017 (Dollars in thousands) Allocated shares 48,351 46,631 Unallocated shares 53,649 55,369 Total ESOP shares 102,000 102,000 Fair value of unallocated shares $ 1,328 $ 1,387 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 9 - Fair Value Measurements Assets and liabilities measured at fair value on a recurring basis - Assets and liabilities are considered to be fair valued on a recurring basis if fair value is measured regularly. The following definitions describe the levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2: Significant observable inputs other than quoted prices included within Level 1, such as quoted prices in markets that are not active, and inputs other than quoted prices that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company's own assumptions about the assumptions market participants would use in pricing an asset or liability based on the best information available in the circumstances. There were no transfers between Level 1, Level 2, or Level 3 during the three months ended September 30, 2017 . The following tables show the Company's assets and liabilities at the dates indicated measured at fair value on a recurring basis: September 30, 2017 Level 1 Level 2 Level 3 Total (In thousands) Municipal bonds $ — $ 163 $ — $ 163 Mortgage-backed securities: FHLMC — 10,766 — 10,766 FNMA — 8,817 — 8,817 GNMA — 494 — 494 June 30, 2017 Level 1 Level 2 Level 3 Total (In thousands) Municipal bonds $ — $ 165 $ — $ 165 Mortgage-backed securities: FHLMC — 11,103 — 11,103 FNMA — 9,363 — 9,363 GNMA — 539 — 539 Assets and liabilities measured at fair value on a nonrecurring basis - Assets and liabilities are considered to be reflected at fair value on a nonrecurring basis if the fair value measurement of the instrument does not necessarily result in a change in the amount recorded on the balance sheet. Generally, a nonrecurring valuation is the result of the application of other accounting pronouncements that require assets or liabilities to be assessed for impairment or recorded at the lower of cost or fair value. The following table presents the balances of assets measured at fair value on a nonrecurring basis at September 30, 2017: September 30, 2017 Level 1 Level 2 Level 3 Total (In thousands) Impaired loans: Mortgage loans One-to-four family $ — $ — $ 3,963 $ 3,963 Land — — 308 308 Home equity — — 260 260 Total impaired loans — — 4,531 4,531 Total $ — $ — $ 4,531 $ 4,531 The following table presents the balances of assets measured at fair value on a nonrecurring basis at June 30, 2017: June 30, 2017 Level 1 Level 2 Level 3 Total (In thousands) Impaired loans: Mortgage loans One-to-four family $ — $ — $ 4,227 $ 4,227 Construction — — 262 262 Land — — 311 311 Commercial business — — 23 23 Total impaired loans — — 4,823 4,823 Total $ — $ — $ 4,823 $ 4,823 The fair values of impaired loans and real estate owned properties are generally based on third party appraisal of the properties, resulting in Level 3 classification. The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at September 30, 2017 and June 30, 2017: September 30, 2017 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Average Discount) (Dollars in thousands) Impaired loans $ 4,531 Fair value of underlying collateral Discount applied to the obtained appraisal 0% - 10% (4%) June 30, 2017 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Average Discount) (Dollars in thousands) Impaired loans $ 4,823 Fair value of underlying collateral Discount applied to the obtained appraisal 0% - 10% (3%) The following tables present the carrying amount, fair value, and placement in the fair value hierarchy of the Company's financial instruments as of September 30, 2017 and June 30, 2017 : September 30, 2017 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Financial Instruments-Assets Cash and cash equivalents $ 8,925 $ 8,925 $ 8,925 $ — $ — Securities available-for-sale 20,240 20,240 — 20,240 — Securities held-to-maturity 4,553 4,575 — 4,575 — FHLB stock 2,036 2,036 — 2,036 — Loans held for sale — — — — — Loans receivable 387,238 378,999 — — 378,999 Bank owned life insurance investment 20,159 20,159 — 20,159 — Accrued interest receivable 1,344 1,344 — 1,344 — Financial Instruments-Liabilities Demand deposits, savings and money market $ 201,582 $ 201,582 $ 201,582 $ — $ — Certificates of deposit 146,794 147,171 — 144,854 — FHLB advances 37,700 37,476 — 37,226 — Advance payments by borrowers for taxes and insurance 1,903 1,903 1,903 — — June 30, 2017 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) Financial Instruments-Assets Cash and cash equivalents $ 14,194 $ 14,194 $ 14,194 $ — $ — Securities available-for-sale 21,170 21,170 — 21,170 — Securities held-to-maturity 4,949 4,954 — 4,954 — FHLB stock 2,348 2,348 — 2,348 — Loans held for sale 1,551 1,551 1,551 — — Loans receivable 382,014 374,599 — — 374,599 Accrued interest receivable 1,332 1,332 — 1,332 — Financial Instruments-Liabilities Demand deposits, savings and money market $ 200,678 $ 200,678 $ 200,678 $ — $ — Certificates of deposit 144,509 144,854 — 144,854 — FHLB advances 45,500 45,226 — 45,226 — Advance payments by borrowers for taxes and insurance 1,195 1,195 1,195 — — The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and cash equivalents, accrued interest receivable and advance payments by borrowers for taxes and insurance -The carrying amount is a reasonable estimate of fair value. Securities - The estimated fair values of securities are based on quoted market prices of similar securities. FHLB stock - FHLB stock is carried at par and does not have a readily determinable fair value. Ownership of FHLB stock is restricted to the member institutions, and can only be purchased and redeemed at par. Loans held for sale - The fair value of loans held-for-sale is based on quoted market prices from FHLMC. FHLMC quotes are updated daily and represent prices at which loans are exchanged in high volumes and in a liquid market. Loans receivable - For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair value of fixed-rate loans is estimated using discounted cash flow analysis, utilizing interest rates that would be offered for loans with similar terms to borrowers of similar credit quality. As a result of current market conditions, cash flow estimates have been further discounted to include a credit factor. The fair value of nonperforming loans is estimated using the fair value of the underlying collateral. Bank owned life insurance investment, net of surrender charges - The carrying amount is a reasonable estimate of its fair value. Demand deposits, savings, money market, and certificates of deposit - The fair value of the Bank's demand deposits, savings, and money market accounts is the amount payable on demand. The fair value of fixed-maturity certificates is estimated using a discounted cash flow analysis using current rates offered for deposits of similar remaining maturities. FHLB advances - The fair value of the Bank's FHLB advances was calculated using the discounted cash flow method. The discount rate was equal to the current rate offered by the FHLB for advances of similar remaining maturities. Commitments to extend credit represent the principal categories of off-balance-sheet financial instruments - The fair values of these commitments are not material since they are for a short period of time and are subject to customary credit terms. |
Stock-Based Compensation (Notes
Stock-Based Compensation (Notes) | 3 Months Ended |
Sep. 30, 2017 | |
Share-based Compensation [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments | Note 10 - Stock-Based Compensation On October 21, 2015, the Company’s stockholders approved the Anchor Bancorp 2015 Equity Incentive Plan ("Plan"), which provides for awards of restricted stock, restricted stock units, and stock options to directors, advisory directors, directors emeriti, officers and employees. The cost of awards under the Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the Plan is 193,800 . Shares of common stock issued under the Plan may be authorized but unissued. As of September 30, 2017, awards for restricted stock totaling 87,572 were outstanding and no stock options were granted. Awarded shares of restricted stock typically vest over various periods as long as the director, advisory director, directors emeriti, officer or employee remains in service to the Company. The Company recognizes compensation expense for the restricted stock awards based on the fair value of the shares at the award date. For the three months ended September 30, 2017 total compensation expense for the Plan was $47,000 , and the related income tax benefit was $16,000 . The following tables provide a summary of changes in non-vested restricted stock awards for the three months ended September 30, 2017: For the Three Months Ended September 30, 2017 Weighted-Average Grant Date Fair Value Shares Non-vested at July 1, 2017 38,424 $ 25.75 Granted — — Vested (11,532 ) 25.75 Forfeited and canceled (9,800 ) 25.05 Non-vested at September 30, 2017 17,092 25.75 As of September 30, 2017, there was $107,000 of total unrecognized compensation costs related to non-vested shares granted as restricted stock awards. The cost is expected to be recognized over the remaining weighted-average vesting period of approximately three years. |
Federal Income Taxes (Notes)
Federal Income Taxes (Notes) | 3 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 11 - Federal Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. These calculations are based on many complex factors including estimates of the timing of reversals of temporary differences, the interpretation of federal income tax laws, and a determination of the differences between the tax and the financial reporting basis of assets and liabilities. Actual results could differ significantly from the estimates and interpretations used in determining the current and deferred income tax assets and liabilities. As of September 30, 2017, the Condensed Consolidated Statements of Financial Condition included a net deferred tax asset of $7.7 million . The Company's primary deferred tax assets relate to the allowance for loan losses. The Company has prepared federal tax returns through June 30, 2017. At June 30, 2017 the net operating loss carryforward was $9.2 million which will begin to expire in 2031. Under GAAP, a valuation allowance is required to be recognized if it is “more likely than not” that a portion of the deferred tax asset will not be realized. Our policy is to evaluate our deferred tax assets on a quarterly basis and record a valuation allowance for our deferred tax asset if we do not have sufficient positive evidence indicating that it is more likely than not that some or all of the deferred tax asset will be realized. Each quarter, we consider positive evidence, which may include taxes paid in carryback years, reversing timing differences, available tax planning strategies, and projected taxable income and weigh it against negative evidence, which may include cumulative losses in the most recent three year period and uncertainty regarding short-term future earnings, among other items. At September 30, 2017, management determined that no valuation allowance on the deferred tax asset was required. This determination was based on sufficient positive evidence associated with our return to profitability, demonstrated through cumulative earnings over the recent three year period, strong quarterly income, and our projections for future taxable income. |
Agreement and Plan of Merger (N
Agreement and Plan of Merger (Notes) | 3 Months Ended |
Sep. 30, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Event, Pro Forma Business Combinations or Disposals [Text Block] | Note 12 - Agreement and Plan of Merger On April 11, 2017, Washington Federal, Inc., a Washington corporation ("Washington Federal"), entered into an Agreement and Plan of Merger, with the Company, which was amended on September 27, 2017 ("Amendment No. 1", and collectively with the Agreement and Plan of Merger, the "Merger Agreement"). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, the Company will merge with and into Washington Federal (the "Merger"), with Washington Federal as the surviving corporation in the Merger. Immediately after the effective time of the Merger (the "Effective Time"), Washington Federal intends to merge Anchor Bank, a wholly-owned subsidiary of the Company, with and into Washington Federal, National Association, a wholly-owned subsidiary of Washington Federal (the "Bank Merger"), with Washington Federal, National Association as the surviving institution in the Bank Merger. Subject to the terms and conditions of the Merger Agreement, at the Effective Time, each share of the common stock of the Company outstanding immediately prior to the Effective Time will be converted into the right to receive a fraction of a share of the common stock of Washington Federal equal to the quotient of 100.7% of the Company's tangible book value price per share (adjusted to include the outstanding balance of its ESOP loan) as of the end of the quarter immediately preceding the closing date divided by the average of the volume-weighted price of Washington Federal common stock for the twenty (20) trading days ending on the fifth trading day immediately preceding the closing date. On April 11, 2017, the Washington Federal shares to be issued pursuant to the Merger Agreement would have had an aggregate value of approximately $63.9 million and each share of Company common stock would have been valued at $25.75. Because the exchange ratio is not fixed and is not subject to a cap or collar, it is not possible until the completion of the Merger to determine the exact amount of Washington Federal common stock that a share of Company will be converted into the right to receive and the value of each share of Company common stock. All unvested restricted stock awards of the Company outstanding immediately prior to the Effective Time will become fully vested and will be converted into a right to receive the merger consideration described immediately above, as provided in the Merger Agreement. The Merger Agreement contains customary representations and warranties from both Washington Federal and the Company, and each party has agreed to customary covenants, including, among others, covenants relating to (1) the conduct of its business during the interim period between the execution of the Merger Agreement and the Effective Time, including, in the case of the Company, specific forbearances with respect to its business activities, (2) the Company's obligation to call a meeting of its shareholders to approve the Merger Agreement, and, subject to certain exceptions, that its board of directors recommend that the Company’s shareholders vote to approve the Merger Agreement, and (3) the Company's non-solicitation obligations regarding alternative acquisition proposals. The Merger Agreement provides certain termination rights for both Washington Federal and the Company and further provides that a termination fee of 1.5% of the aggregate Merger consideration will be payable by Anchor upon termination of the Merger Agreement under certain circumstances. The need for the Amendment No. 1 was due to the identification of certain issues with respect to procedures, systems and processes of Washington Federal's bank subsidiary, Washington Federal, National Association, relating to its Bank Secrecy Act ("BSA") program. In addition, Amendment No. 1 also clarifies that a "burdensome condition" (i.e., a condition to regulatory approval of the merger that would be a basis for Washington Federal not to complete the merger) does not include any condition imposed on Washington Federal, or its subsidiary Washington Federal, National Association, related to its BSA program and that Washington Federal’s registration statement on Form S-4 will not go effective, and the Company’s special meeting of shareholders to vote on the Merger Agreement will not be called until the receipt of all regulatory approvals for the Merger. To provide Washington Federal additional time to complete its remediation efforts and obtain regulatory approvals, Amendment No. 1 extends from December 31, 2017 to June 30, 2018 the date after which either party can elect to terminate the Merger Agreement if the Merger has not yet been completed and provides for up to three additional six month extensions of the Merger Agreement beyond June 30, 2018. In light of the extension, the Company is now permitted to pay a dividend on its common stock or repurchase its common stock as long as it does not reduce its tangible common equity to assets ratio below 12% and, to provide greater flexibility in retaining employees through the closing of the Merger, may pay retention incentives and hire replacements for terminated executive officers at increased salaries. The completion of the Merger is subject to customary conditions, including approval of the Merger Agreement by the Company's shareholders, by the holders of at least two thirds of the outstanding shares of the Company's common stock, and the receipt of all required regulatory approvals. |
Basis of Presentation_ Basis of
Basis of Presentation: Basis of Presentation Policy (Policies) | 3 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation Policy | The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended June 30, 2017 (“2017 Form 10-K”). The results of operations for the three months ended September 30, 2017 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2018. Certain prior year amounts have been reclassified to conform to current fiscal year presentation. The reclassifications had no impact on previously reported consolidated net income or equity. The Company has evaluated events and transactions subsequent to September 30, 2017 for potential recognition or disclosure. |
Recently Issued Accounting Pr20
Recently Issued Accounting Pronouncements: New Accounting Pronouncements, Policy (Policies) | 3 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy | In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606). In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606) which postponed the effective date of 2014-09. Subsequently, in March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations. This amendment clarifies that an entity should determine if it is the principal or the agent for each specified good or service promised in a contract with a customer. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. The core principle of Topic 606 is that an entity must recognize revenue when it has satisfied a performance obligation of transferring promised goods or services to a customer. The standard is effective for public entities for interim and annual periods beginning after December 15, 2017; early adoption is not permitted. The standard allows for full retrospective adoption for all periods presented or modified retrospective adoption to only the most current period presented in the financial statements. The cumulative effect of initially applying the standard is recognized at the date of the initial application. Our primary source of revenue is interest income, which is recognized as it is earned and is deemed to be in compliance with this ASU. With respect to noninterest income, the Company is in its preliminary stages of identifying and evaluating the revenue streams and underlying revenue contracts within the scope of the guidance. The Company is expecting to begin developing processes and procedures during 2017 to ensure it is fully compliant with these amendments at the date of adoption. To date, the Company has not yet identified any significant changes in the timing of revenue recognition when considering the amended accounting guidance; however, the Company’s implementation efforts are ongoing and such assessments may change prior to the January 1, 2018 implementation date. Accordingly, the Company does not expect implementation of this standard to have a material impact on our consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets . The new standard significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured as fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of ASU No. 2016-01 is not expected to have a material impact on the Company's consolidated financial statements. [Management is in the planning stages of developing processes and procedures to comply with the disclosures requirements of this ASU, which could impact the disclosures the Company makes related to fair value of its financial instruments]. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842 ). The amendments in this ASU require lessees to recognize the following for all leases (with the exception of short-term) at the commencement date; a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. The amendments in this ASU leave lessor accounting largely unchanged, although certain targeted improvements were made to align lessor accounting with the lessee accounting model. This ASU simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The effect of the adoption will depend on leases at time of adoption. Once adopted, we expect to report higher assets and liabilities as a result of including right-of-use assets and lease liabilities related to certain banking offices and certain equipment under noncancelable operating lease agreements, however, based on current leases the adoption is not expected to have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting , which amends ASC Topic 718, Compensation - Stock Compensation . The ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. The ASU was effective for annual and interim periods beginning after December 15, 2016. The Company adopted this standard effective January 1, 2017. The adoption of ASU No. 2016-09 did not have a material impact on the Company's consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. The standard will take effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Once adopted, we expect our allowance for loan losses to increase, however, until our evaluation is complete the magnitude of the increase will not be known. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), a consensus of the FASB’s Emerging Issues Task Force . The ASU is intended to reduce diversity in practice in how certain transactions are presented and classified in the statement of cash flows. The standard will take effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The adoption of ASU No. 2016-15 is not expected to have a material impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash . The ASU amends the required statement of cash flow disclosures to include the change in amounts generally described as restricted cash. The standard will take effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The adoption of ASU No. 2016-18 is not expected to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments-Equity Method and Joint Ventures (Topic 323): Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 and November 17, 2016 EITF Meetings (SEC Update). This ASU amends the Codification for SEC staff announcements made at recent Emerging Issues Task Force (EITF) meetings. The SEC staff view is that a registrant should evaluate ASU updates that have not yet been adopted to determine the appropriate financial disclosures about the potential material effects of the ASU on the financial statements when adopted. If a registrant does not know or cannot reasonably estimate the impact of an ASU, then in addition to making a statement to that effect, the registrant should consider additional qualitative financial statement disclosures to assist the reader in assessing the significance of the impact. The SEC staff expects the additional qualitative disclosures to include a description of the effect of the accounting policies expected to be applied compared to current accounting policies. Also, the registrant should describe the status of its process to implement the new standards and the significant implementation matters yet to be addressed. The amendments specifically addressed recent ASU amendments to Topic 326, Financial Instruments - Credit Losses; Topic 842, Leases; and Topic 606, Revenue from Contracts with Customers; although, the amendments apply to any subsequent amendments to guidance in the ASU. The Company has adopted the amendments in this ASU and appropriate disclosures have been included in this Note for each recently issued accounting standard. In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . The ASU shortens the amortization period for certain callable debt securities held at a premium. The standard will take effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The adoption of ASU No. 2017-08 is not expected to have a material impact on the Company's consolidated financial statements. In May 2017, the FASB issued ASU No. 2017-09, Compensation Stock Compensation (Topic 718): Scope of Modification Accounting . This ASU provides clarity on the guidance related to stock compensation when there has been changes to the terms or conditions of a share-based payment award to which an entity would be required to apply modification accounting under ASC 718. The ASU provides the three following criteria must be met in order to not account for the effect of the modification of terms or conditions: the fair value, the vesting conditions and the classification as an equity or liability instrument of the modified award is the same as the original award immediately before the original award is modified. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. The adoption of ASU No. 2017-09 is not expected to have a material impact on the Company's consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU amends the hedge accounting recognition and presentation requirements in ASC 815 to (1) improve the transparency and understandability of information conveyed to financial statement users about an entity’s risk management activities by better aligning the entity’s financial reporting for hedging relationships with those risk management activities and (2) reduce the complexity of and simplify the application of hedge accounting by preparers. The amendments in this ASU permit hedge accounting for hedging relationships involving nonfinancial risk and interest rate risk by removing certain limitations in cash flow and fair value hedging relationships. In addition, the ASU requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018 and early adoption is permitted. The adoption of ASU No. 2017-12 is not expected to have a material impact on the Company's consolidated financial statements. |
Earnings Per Share_ Earnings Pe
Earnings Per Share: Earnings Per Share, Policy (Policies) | 3 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share, Policy | Basic earnings per common share is the amount of earnings available to each share of common stock outstanding during the reporting period and is equal to net income divided by the weighted average number of shares outstanding during the period, without considering any dilutive items. Unvested share-based awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method described in ASC 260-10-45-60B. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the period adjusted to include the effect of potentially dilutive common shares that may be issued upon the vesting of restricted stock awards. Therefore, under the two-class method, the difference in EPS is not significant since the Company did not pay dividends. |
Loans Receivable, Net (Policies
Loans Receivable, Net (Policies) | 3 Months Ended |
Sep. 30, 2017 | |
Loans Receivable, Net [Abstract] | |
Credit Quality Internal Rating System Policy | Credit Quality Indicators. We utilize a ten-point risk rating system and assign a risk rating for all credit exposures. The risk rating system is designed to define the basic characteristics and identify risk elements of each credit extension. Credits risk rated 1 through 7 are considered to be “pass” credits. Pass credits can be assets where there is virtually no credit risk, such as cash secured loans with funds on deposit with the Bank. Pass credits also include credits that are on our watch and special mention lists, where the borrower exhibits potential weaknesses, which may, if not checked or corrected, negatively affect the borrower's financial capacity and threaten their ability to fulfill debt obligations in the future. A seasoned loan with a Debt Service Coverage Ratio ("DSCR") of greater than 1.00 is the minimum acceptable level for a "Pass Credit". Particular attention is paid to the coverage trend analysis as any loan with a declining DSCR trend may warrant a higher risk grade even if the current coverage is at or above the 1.00 threshold. Credits classified as Watch are risk rated 6 and possess weaknesses that deserve management's close attention. These assets do not expose the Bank to sufficient risk to warrant adverse classification in the substandard, doubtful or loss categories. We use this rating when a material documentation deficiency exists but correction is anticipated within an acceptable time frame. A loan classified as Watch may have the following characteristics: • Acceptable asset quality, but requiring increased monitoring. Strained liquidity and less than anticipated performance. The loan may be fully leveraged. • Apparent management weakness, perhaps demonstrated by an irregular flow of adequate and/or timely performance information required to support the credit. • The borrower has a plausible plan to correct problem(s) in the near future that is devoid of material uncertainties. • Lacks reserve capacity, so the risk rating will improve or decline in relatively short time (results of corrective actions should be apparent within six months or less). Credits classified as Special Mention are risk rated 7. These credits have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset. Special Mention assets are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. A loan classified as Special Mention may have the following characteristics: • Performance is poor or significantly less than expected. A debt service deficiency either exists or cannot be ruled out. • Generally an undesirable business credit. Assets in this category are protected, but are potentially weak. These assets constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of Substandard. Special Mention assets have potential weaknesses which may, if not checked or corrected, weaken the asset or inadequately protect the Bank's credit position at some future date. • Assets which might be detailed in this category include credits that the lending officer may be unable to supervise properly because of lack of expertise, an inadequate loan agreement, the condition of and control over collateral, failure to obtain proper documentation, or any other deviations from prudent lending practices. • An adverse trend in the borrower's operations or an imbalanced position in the balance sheet which does not jeopardize liquidation may best be handled by this classification. • A Special Mention classification should not be used as a compromise between a pass and substandard rating. Assets in which actual, not potential, weaknesses are evident and significant, and should be considered for more serious criticism. A loan classified as Substandard is risk rated 8. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. An asset is considered Substandard if it is inadequately protected by the current net worth and payment capacity of the borrower or of any collateral pledged. A loan classified as Substandard may have the following characteristics: • Unacceptable business credit. The asset is inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Assets so classified must have a well defined weakness or weaknesses that jeopardize the liquidation of the debt. • Though no loss is envisioned, the outlook is sufficiently uncertain to preclude ruling out the possibility. Some liquidation of assets will likely be necessary as a corrective measure. • Assets in this category may demonstrate performance problems such as debt servicing deficiencies with no immediate relief, including having a DSCR of less than 1.00 . Borrowers have an inability to adjust to prolonged and unfavorable industry or economic trends. Management's character and/or effectiveness have become suspect. A loan classified as Doubtful is risk rated 9 and has all the inherent weaknesses as those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values highly questionable is improbable. A loan classified as Doubtful is risk rated 9 and has the following characteristics: • The possibility of loss is extremely high, but because of certain important and reasonable specific pending factors which may work to the advantage and strengthening of the asset, its classification as an estimated loss is deferred until its more exact status may be determined. • Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral and refinancing plans. A loan risk rated 10 is a loan for which a total loss is expected. A loan classified as a Loss has the following characteristics: • An uncollectible asset or one of such little value that it does not warrant classification as an active, earning asset. Such an asset may, however, have recovery or salvageable value, but not to the point of deferring full write off, even though some recovery may occur in the future. • The Bank will charge off such assets as a loss during the accounting period in which they were identified. • Loan to be eliminated from the active loan reporting system via charge off. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy | Troubled Debt Restructures . A troubled debt restructure ("TDR") is a loan where the Company, for economic or legal reasons related to the borrower's financial condition, has granted a concession to the borrower that it would otherwise not consider so that the borrower can continue to make payments while minimizing the Company's potential loss. The modifications have included items such as lowering the interest rate on the loan for a period of time and extending the maturity date of the loan. These modifications are made only when there is a reasonable and attainable workout plan that has been agreed to by the borrower and is in the Bank's best interest. At September 30, 2017 , there were no commitments to lend additional funds to borrowers whose loans have been modified in a TDR. |
Employee Benefit Plans_ Employe
Employee Benefit Plans: Employee Stock Ownership Plan (ESOP), Policy (Policies) | 3 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Employee Stock Ownership Plan (ESOP), Policy | On January 25, 2011, the Company established an ESOP for the benefit of substantially all employees. The ESOP borrowed $1.0 million from the Company and used those funds to acquire 102,000 shares of the Company's common stock at the time of the initial public offering at a price of $10.00 per share. Shares purchased by the ESOP with the loan proceeds are held in a suspense account and allocated to ESOP participants on a pro rata basis as principal and interest payments are made by the ESOP to the Company. The loan is secured by shares purchased with the loan proceeds and will be repaid by the ESOP with funds from the Company's discretionary contributions to the ESOP and earnings on the ESOP assets. Payments of principal and interest are due annually on June 30th, the Company's fiscal year end. As shares are committed to be released from collateral, the Company reports compensation expense equal to the daily average market prices of the shares and the shares become outstanding for EPS computations. The compensation expense is accrued throughout the year. Compensation expense related to the ESOP for the three months ended September 30, 2017 and 2016 was $43,000 and $44,000 , respectively. |
Fair Value Measurements (Polici
Fair Value Measurements (Policies) | 3 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement Policy | Assets and liabilities measured at fair value on a recurring basis - Assets and liabilities are considered to be fair valued on a recurring basis if fair value is measured regularly. The following definitions describe the levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2: Significant observable inputs other than quoted prices included within Level 1, such as quoted prices in markets that are not active, and inputs other than quoted prices that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company's own assumptions about the assumptions market participants would use in pricing an asset or liability based on the best information available in the circumstances. |
Fair Value Methods and Assumptions Policy | The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and cash equivalents, accrued interest receivable and advance payments by borrowers for taxes and insurance -The carrying amount is a reasonable estimate of fair value. Securities - The estimated fair values of securities are based on quoted market prices of similar securities. FHLB stock - FHLB stock is carried at par and does not have a readily determinable fair value. Ownership of FHLB stock is restricted to the member institutions, and can only be purchased and redeemed at par. Loans held for sale - The fair value of loans held-for-sale is based on quoted market prices from FHLMC. FHLMC quotes are updated daily and represent prices at which loans are exchanged in high volumes and in a liquid market. Loans receivable - For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair value of fixed-rate loans is estimated using discounted cash flow analysis, utilizing interest rates that would be offered for loans with similar terms to borrowers of similar credit quality. As a result of current market conditions, cash flow estimates have been further discounted to include a credit factor. The fair value of nonperforming loans is estimated using the fair value of the underlying collateral. Bank owned life insurance investment, net of surrender charges - The carrying amount is a reasonable estimate of its fair value. Demand deposits, savings, money market, and certificates of deposit - The fair value of the Bank's demand deposits, savings, and money market accounts is the amount payable on demand. The fair value of fixed-maturity certificates is estimated using a discounted cash flow analysis using current rates offered for deposits of similar remaining maturities. FHLB advances - The fair value of the Bank's FHLB advances was calculated using the discounted cash flow method. The discount rate was equal to the current rate offered by the FHLB for advances of similar remaining maturities. Commitments to extend credit represent the principal categories of off-balance-sheet financial instruments - The fair values of these commitments are not material since they are for a short period of time and are subject to customary credit terms. |
Earnings Per Share_ Schedule of
Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table details the calculation of basic and diluted earnings per share: For the Three Months Ended September 30, 2017 2016 (Dollars in thousands, except share data) Net income $ 1,044 $ 573 Earnings allocated to common shareholders $ 1,044 $ 573 Basic weighted-average common shares outstanding 2,421,049 2,391,839 Potentially dilutive incremental shares 11,911 22,840 Diluted weighted-average common shares outstanding 2,432,960 2,414,679 Basic earnings per share $ 0.43 $ 0.24 Diluted earnings per share $ 0.43 $ 0.24 |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Investments [Abstract] | |
Schedule of Investment Securities by Amortized Cost and Estimated Fair Market Value | The amortized cost and estimated fair market values of investment securities as of September 30, 2017 and June 30, 2017 , were as follows: September 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Securities available-for-sale Municipal bonds $ 163 $ — $ — $ 163 Mortgage-backed securities: FHLMC (1) 10,766 110 (110 ) 10,766 FNMA (2) 8,970 — (153 ) 8,817 GNMA (3) 508 — (14 ) 494 $ 20,407 $ 110 $ (277 ) $ 20,240 Securities held-to-maturity Mortgage-backed securities: FHLMC $ 2,100 $ 50 $ (47 ) $ 2,103 FNMA 1,142 68 (16 ) 1,194 GNMA 1,311 — (32 ) 1,279 $ 4,553 $ 118 $ (95 ) $ 4,576 (1) Federal Home Loan Mortgage Corporation ("Freddie Mac") (2) Federal National Mortgage Association ("Fannie Mae") (3) Government National Mortgage Association ("Ginnie Mae") June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Securities available-for-sale Municipal bonds $ 165 $ — $ — $ 165 Mortgage-backed securities: FHLMC 11,140 88 (125 ) 11,103 FNMA 9,532 — (169 ) 9,363 GNMA 554 — (15 ) 539 $ 21,391 $ 88 $ (309 ) $ 21,170 Securities held-to-maturity Mortgage-backed securities: FHLMC $ 2,212 53 (52 ) $ 2,213 FNMA 1,209 71 (23 ) 1,257 GNMA 1,528 — (44 ) 1,484 $ 4,949 $ 124 $ (119 ) $ 4,954 |
Schedule of Temporary Impairment Losses, Investments | The fair value of temporarily impaired securities, the amount of unrealized losses, and the length of time these unrealized losses existed as of the dates indicated, were as follows: Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2017 (In thousands) Securities available-for-sale Mortgage-backed securities: FHLMC $ 2,405 $ (20 ) $ 3,013 $ (90 ) $ 5,418 $ (110 ) FNMA 3,858 (22 ) 4,752 (132 ) 8,610 (154 ) GNMA — — 494 (13 ) 494 (13 ) $ 6,263 $ (42 ) $ 8,259 $ (235 ) $ 14,522 $ (277 ) Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2017 (In thousands) Securities held-to-maturity Mortgage-backed securities: FHLMC $ — $ — $ 1,468 $ (47 ) $ 1,468 $ (47 ) FNMA — — 510 (16 ) 510 (16 ) GNMA 835 (12 ) 444 (20 ) 1,279 (32 ) $ 835 $ (12 ) $ 2,422 $ (83 ) $ 3,257 $ (95 ) Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2017 (In thousands) Securities available-for-sale Mortgage-backed securities: FHLMC $ 2,626 $ (25 ) $ 3,185 $ (100 ) $ 5,811 $ (125 ) FNMA 4,578 (29 ) 4,563 (140 ) 9,141 (169 ) GNMA — — 539 (15 ) 539 (15 ) $ 7,204 $ (54 ) $ 8,287 $ (255 ) $ 15,491 $ (309 ) Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized June 30, 2017 (In thousands) Securities held-to-maturity Mortgage-backed securities: FHLMC $ — $ — $ 1,548 $ (52 ) $ 1,548 $ (52 ) FNMA — — 539 (23 ) 539 (23 ) GNMA 840 (13 ) 645 (31 ) 1,485 (44 ) $ 840 $ (13 ) $ 2,732 $ (106 ) $ 3,572 $ (119 ) |
Schedule of Contractual Maturities of Securities | September 30, 2017 Amortized Cost Fair Value (In thousands) Securities available-for-sale Municipal bonds: Due after ten years $ 163 $ 163 Mortgage-backed securities: FHLMC 10,766 10,766 FNMA 8,970 8,817 GNMA 508 494 $ 20,407 $ 20,240 Securities held-to-maturity Mortgage-backed securities: FHLMC $ 2,100 $ 2,103 FNMA 1,142 1,193 GNMA 1,311 1,279 $ 4,553 $ 4,575 |
Schedule of Sales of Securities and Maturities | Sales of securities available-for-sale for the dates indicated are summarized as follows: Three Months Ended September 30, 2017 2016 (In thousands) Proceeds from maturities, sales and calls $ — 852 |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | Pledged securities at the dates indicated are summarized as follows: September 30, 2017 June 30, 2017 Pledged to secure: Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Public deposits $ 4,942 $ 4,960 $ 5,143 $ 5,172 FHLB borrowings 920 956 977 1,009 Federal Reserve borrowing line 847 835 852 840 |
Loans Receivable, Net (Tables)
Loans Receivable, Net (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Loans Receivable, Net [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans receivable consisted of the following at the dates indicated: September 30, 2017 June 30, 2017 (In thousands) Real estate: One-to-four family $ 61,555 $ 59,735 Multi-family 61,012 60,500 Commercial 148,867 155,525 Construction 60,963 49,151 Land 8,097 8,054 Total real estate 340,494 332,965 Consumer: Home equity 13,991 13,991 Credit cards 2,535 2,596 Automobile 573 627 Other consumer 1,484 1,524 Total consumer 18,583 18,738 Business: Commercial business 29,455 31,603 Total loans 388,532 383,306 Less: Deferred loan fees and loan premiums, net 1,294 1,292 Allowance for loan losses 4,017 4,106 Loans receivable, net $ 383,221 $ 377,908 |
Schedule of Activity in Allowance for Loan Losses by Portfolio Segment | The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2017: One-to- four family Multi- family Commercial real estate Construction Land Consumer (1) Commercial business Unallocated Three months ended 9/30/17 (In thousands) Allowance for loan losses : Beginning balance $ 495 $ 580 $ 1,566 $ 651 $ 120 $ 378 $ 316 $ — $ 4,106 Provision (benefit) for loan losses (207 ) 10 168 169 (1 ) (40 ) (24 ) — 75 Charge-offs — — (200 ) — — (1 ) — — (201 ) Recoveries 14 — — 1 — 17 5 — 37 Ending balance $ 302 $ 590 $ 1,534 $ 821 $ 119 $ 354 $ 297 $ — $ 4,017 (1) Consumer loans include home equity, credit cards, automobile, and other consumer loans. The only consumer loans with impairment are home equity loans. The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2016: One-to- four family Multi- family Commercial real estate Construction Land Consumer (1) Commercial business Unallocated Three months ended 9/30/16 (In thousands) Allowance for loan losses : Beginning balance $ 798 $ 454 $ 1,333 $ 271 $ 75 $ 516 $ 332 $ — $ 3,779 Provision (benefit) for loan losses (91 ) 9 (24 ) 108 35 42 (4 ) — 75 Charge-offs — — — — — (54 ) — — (54 ) Recoveries 10 — — 2 — 9 3 — 24 Ending balance $ 717 $ 463 $ 1,309 $ 381 $ 110 $ 513 $ 331 $ — $ 3,824 (1) Consumer loans include home equity, credit cards, automobile, and other consumer loans. The only consumer loans with impairment are home equity loans. |
Schedule of Loans Individually Evaluated for Impairment | The following table presents loans individually evaluated for impairment by class of loans as of September 30, 2017 : Recorded Investments Unpaid Principal Balance Related Allowance (In thousands) With no allowance recorded One-to-four family $ 1,613 $ 1,798 $ — Home equity 263 270 — Commercial business 353 422 — With an allowance recorded One-to-four family $ 2,957 $ 2,967 $ 125 Land 308 308 20 Home equity 260 260 41 Total One-to-four family $ 4,570 $ 4,765 $ 125 Land 308 308 20 Home equity 523 530 41 Commercial business 353 422 — Total $ 5,754 $ 6,025 $ 186 The following table presents loans individually evaluated for impairment by class of loans as of June 30, 2017 : Recorded Investments Unpaid Principal Balance Related Allowance (In thousands) With no allowance recorded One-to-four family $ 1,818 $ 1,991 $ — Commercial real estate 1,992 1,992 — Home equity 299 303 — Commercial business 606 668 — With an allowance recorded One-to-four family $ 3,210 $ 3,220 $ 143 Land 311 311 22 Home equity 262 262 32 Commercial business 23 23 1 Total One-to-four family $ 5,028 $ 5,211 $ 143 Commercial real estate 1,992 1,992 — Land 311 311 22 Home equity 561 565 32 Commercial business 629 691 1 Total $ 8,521 $ 8,770 $ 198 |
Schedule of Loans Evaluated for Impairment Average Recorded Invesetment and Interest Income Recognized | The following table presents the average recorded investment in loans individually evaluated for impairment and the interest income recognized for the three months ended September 30, 2017 and 2016: Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no allowance recorded One-to-four family $ 1,716 $ 3 $ 3,152 $ 14 Commercial real estate 996 — 433 — Land — — 180 1 Home equity 281 1 71 — Commercial business 480 1 108 1 With an allowance recorded One-to-four family $ 3,084 $ 11 $ 5,967 $ 16 Land 310 7 318 7 Home equity 261 1 366 1 Commercial business 12 — 118 — Total One-to-four family $ 4,800 $ 14 $ 9,119 $ 30 Commercial real estate 996 — 433 — Land 310 7 498 8 Home equity 543 2 437 1 Commercial business 491 — 226 1 Total $ 7,140 $ 23 $ 10,713 $ 40 |
Schedule of Balance in Allowance for Loan Losses | The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of September 30, 2017 : One-to-four family Multi- family Commercial real estate Construction Land Consumer(1) Commercial business Unallocated Total (In thousands) Allowance for loan losses: Ending balance $ 302 $ 590 $ 1,534 $ 821 $ 119 $ 354 $ 297 $ — $ 4,017 Ending balance: individually evaluated for impairment 125 — — — 20 41 — — 186 Ending balance: collectively evaluated for impairment $ 177 $ 590 $ 1,534 $ 821 $ 99 $ 313 $ 297 $ — $ 3,831 Loans receivable: Ending balance $ 61,555 $ 61,012 $ 148,867 $ 60,963 $ 8,097 $ 18,583 $ 29,455 $ — $ 388,532 Ending balance: individually evaluated for impairment 4,570 — — — 308 523 353 — 5,754 Ending balance: collectively evaluated for impairment $ 56,985 $ 61,012 $ 148,867 $ 60,963 $ 7,789 $ 18,060 $ 29,102 $ — $ 382,778 (1) Consumer loans include home equity, credit cards, auto and other consumer loans. The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2017: One-to-four family Multi- family Commercial real estate Construction Land Consumer(1) Commercial business Unallocated Total (In thousands) Allowance for loan losses: Ending balance $ 495 $ 580 $ 1,566 $ 651 $ 120 $ 378 $ 316 $ — $ 4,106 Ending balance: individually evaluated for impairment 143 — — — 22 32 1 — 198 Ending balance: collectively evaluated for impairment $ 352 $ 580 $ 1,566 $ 651 $ 98 $ 346 $ 315 $ — $ 3,908 Loans receivable: Ending balance $ 59,735 $ 60,500 $ 155,525 $ 49,151 $ 8,054 $ 18,738 $ 31,603 $ — $ 383,306 Ending balance: individually evaluated for impairment 5,028 — 1,992 — 311 561 629 — 8,521 Ending balance: collectively evaluated for impairment $ 54,707 $ 60,500 $ 153,533 $ 49,151 $ 7,743 $ 18,177 $ 30,974 $ — $ 374,785 (1) Consumer loans include home equity, credit cards, auto, and other consumer loans. |
Schedule of Financing Receivables, Non Accrual Status | The following table presents the recorded investment in nonaccrual loans by type of loans as of the dates indicated: September 30, 2017 June 30, 2017 (In thousands) One-to-four family $ 968 $ 1,170 Commercial — 1,992 Home equity 207 242 Commercial business 289 300 Total $ 1,464 $ 3,704 There were no loans past due 90 days or more and still accruing interest at September 30, 2017 and June 30, 2017. |
Schedule of Past Due Loans by Class | The following table presents past due loans, net of partial loan charge-offs, by class of loan, as of September 30, 2017 : 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due (1) Total Past Due Current Total Loans (In thousands) One-to-four family $ 732 $ 117 $ 968 $ 1,817 $ 59,738 $ 61,555 Multi-family — — — — 61,012 61,012 Commercial real estate — — — — 148,867 148,867 Construction — — — — 60,963 60,963 Land — — — — 8,097 8,097 Home equity 41 — 207 248 13,743 13,991 Credit cards 5 3 — 8 2,527 2,535 Automobile — — — — 573 573 Other consumer 2 7 — 9 1,475 1,484 Commercial business — — 289 289 29,166 29,455 Total $ 780 $ 127 $ 1,464 $ 2,371 $ 386,161 $ 388,532 (1) Includes loans on nonaccrual status. The following table presents past due loans, net of partial loan charge-offs, by class of loan as of June 30, 2017 : 30-59 Days Past Due 60-89 Days Past Due 90 Days Or More Past Due (1) Total Past Due Current Total Loans (In thousands) One-to-four family $ 15 $ — $ 1,170 $ 1,185 $ 58,550 $ 59,735 Multi-family — — — — 60,500 60,500 Commercial real estate 187 — 1,992 2,179 153,346 155,525 Construction — — — — 49,151 49,151 Land — — — — 8,054 8,054 Home equity 16 4 242 262 13,729 13,991 Credit cards 13 — — 13 2,583 2,596 Automobile — — — — 627 627 Other consumer — 8 — 8 1,516 1,524 Commercial business 107 — 300 407 31,196 31,603 Total $ 338 $ 12 $ 3,704 $ 4,054 $ 379,252 $ 383,306 (1) Includes loans on nonaccrual status. |
Schedule of Credit Quality Internal Rating System | The following table presents the internally assigned grade as of September 30, 2017 , by class of loans: One-to- four family Multi- family Commercial real estate Construction Land Home equity Credit cards Automobile Other consumer Commercial business Total (In thousands) Grade: Pass $ 59,378 $ 60,489 $ 147,262 $ 60,963 $ 8,097 $ 13,247 $ 2,527 $ 573 $ 1,478 $ 28,363 $ 382,377 Watch 917 523 1,605 — — 371 8 — — 697 4,121 Special Mention 305 — — — — 16 — — — 106 427 Substandard 955 — — — — 357 — — 6 289 1,607 Doubtful — — — — — — — — — — — Total $ 61,555 $ 61,012 $ 148,867 $ 60,963 $ 8,097 $ 13,991 $ 2,535 $ 573 $ 1,484 $ 29,455 $ 388,532 The following table presents the internally assigned grade as of June 30, 2017 , by class of loans: One-to- four family Multi-family Commercial real estate Construction Land Home equity Credit cards Automobile Other consumer Commercial business Total (In thousands) Grade: Pass $ 57,075 $ 59,973 $ 150,762 $ 49,151 $ 7,743 $ 13,202 $ 2,583 $ 627 $ 1,510 $ 29,972 $ 372,598 Watch 984 527 2,771 — 311 361 13 — 6 1,224 6,197 Special Mention 646 — — — — 36 — — 1 107 790 Substandard 1,030 — 1,992 — — 392 — — 7 300 3,721 Doubtful — — — — — — — — — — — Total $ 59,735 $ 60,500 $ 155,525 $ 49,151 $ 8,054 $ 13,991 $ 2,596 $ 627 $ 1,524 $ 31,603 $ 383,306 |
Schedule of Troubled Debt Restructurings by Accrual versus Nonaccrual Status | The following table presents TDRs by accrual versus nonaccrual status and by loan class as of September 30, 2017 : September 30, 2017 Accrual Status Nonaccrual Total Modifications (In thousands) One-to-four family $ 3,602 $ 124 $ 3,726 Land 308 — 308 Home equity 166 — 166 Commercial business 63 — 63 Total $ 4,139 $ 124 $ 4,263 The following table presents TDRs by accrual versus nonaccrual status and by loan class as of June 30, 2017 : June 30, 2017 Accrual Status Nonaccrual Total Modifications (In thousands) One-to-four family $ 3,622 $ 131 $ 3,753 Land 311 — 311 Home equity 169 — 169 Commercial business 87 — 87 Total $ 4,189 $ 131 $ 4,320 |
Schedule of Debtor Troubled Debt Restructuring, Current Period | There were no new TDR loans, or renewals or modifications of existing TDR loans during the three months ended September 30, 2017 and 2016. |
Schedule of Troubled Debt Restructurings With Subsequent Default | For both the three months ended September 30, 2017 and 2016, there were no TDRs for which there was a payment default within 12 months of their restructure. |
Real Estate Owned, Net_ Schedul
Real Estate Owned, Net: Schedule of Real Estate Properties (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |
Schedule of Real Estate Properties | The following table is a summary of REO activity for the three months ended September 30, 2017 and 2016: Three Months Ended September 30, 2017 2016 (In thousands) Balance at the beginning of the period $ 867 $ 373 Net loans transferred to real estate owned 1,791 168 Sales — (282 ) Gain on sale of REO — 12 Balance at the end of the period $ 2,658 $ 271 |
Employee Benefit Plans_ Schedul
Employee Benefit Plans: Schedule of Employee Stock Ownership Plan (ESOP) Disclosures (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures | Shares held by the ESOP as of the dates indicated are as follows: September 30, 2017 June 30, 2017 (Dollars in thousands) Allocated shares 48,351 46,631 Unallocated shares 53,649 55,369 Total ESOP shares 102,000 102,000 Fair value of unallocated shares $ 1,328 $ 1,387 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables show the Company's assets and liabilities at the dates indicated measured at fair value on a recurring basis: September 30, 2017 Level 1 Level 2 Level 3 Total (In thousands) Municipal bonds $ — $ 163 $ — $ 163 Mortgage-backed securities: FHLMC — 10,766 — 10,766 FNMA — 8,817 — 8,817 GNMA — 494 — 494 June 30, 2017 Level 1 Level 2 Level 3 Total (In thousands) Municipal bonds $ — $ 165 $ — $ 165 Mortgage-backed securities: FHLMC — 11,103 — 11,103 FNMA — 9,363 — 9,363 GNMA — 539 — 539 |
Schedule of Fair Value Assets and Liabilities Measured on Nonrecurring Basis | The following table presents the balances of assets measured at fair value on a nonrecurring basis at September 30, 2017: September 30, 2017 Level 1 Level 2 Level 3 Total (In thousands) Impaired loans: Mortgage loans One-to-four family $ — $ — $ 3,963 $ 3,963 Land — — 308 308 Home equity — — 260 260 Total impaired loans — — 4,531 4,531 Total $ — $ — $ 4,531 $ 4,531 The following table presents the balances of assets measured at fair value on a nonrecurring basis at June 30, 2017: June 30, 2017 Level 1 Level 2 Level 3 Total (In thousands) Impaired loans: Mortgage loans One-to-four family $ — $ — $ 4,227 $ 4,227 Construction — — 262 262 Land — — 311 311 Commercial business — — 23 23 Total impaired loans — — 4,823 4,823 Total $ — $ — $ 4,823 $ 4,823 |
Schedule of Quantitative Information About Level 3 Fair Value Instruments | The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at September 30, 2017 and June 30, 2017: September 30, 2017 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Average Discount) (Dollars in thousands) Impaired loans $ 4,531 Fair value of underlying collateral Discount applied to the obtained appraisal 0% - 10% (4%) June 30, 2017 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Average Discount) (Dollars in thousands) Impaired loans $ 4,823 Fair value of underlying collateral Discount applied to the obtained appraisal 0% - 10% (3%) |
Schedule of Financial Instruments Carrying Amount, Fair Value and Placement in the Fair Value Hierarchy | The following tables present the carrying amount, fair value, and placement in the fair value hierarchy of the Company's financial instruments as of September 30, 2017 and June 30, 2017 : September 30, 2017 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Financial Instruments-Assets Cash and cash equivalents $ 8,925 $ 8,925 $ 8,925 $ — $ — Securities available-for-sale 20,240 20,240 — 20,240 — Securities held-to-maturity 4,553 4,575 — 4,575 — FHLB stock 2,036 2,036 — 2,036 — Loans held for sale — — — — — Loans receivable 387,238 378,999 — — 378,999 Bank owned life insurance investment 20,159 20,159 — 20,159 — Accrued interest receivable 1,344 1,344 — 1,344 — Financial Instruments-Liabilities Demand deposits, savings and money market $ 201,582 $ 201,582 $ 201,582 $ — $ — Certificates of deposit 146,794 147,171 — 144,854 — FHLB advances 37,700 37,476 — 37,226 — Advance payments by borrowers for taxes and insurance 1,903 1,903 1,903 — — June 30, 2017 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) Financial Instruments-Assets Cash and cash equivalents $ 14,194 $ 14,194 $ 14,194 $ — $ — Securities available-for-sale 21,170 21,170 — 21,170 — Securities held-to-maturity 4,949 4,954 — 4,954 — FHLB stock 2,348 2,348 — 2,348 — Loans held for sale 1,551 1,551 1,551 — — Loans receivable 382,014 374,599 — — 374,599 Accrued interest receivable 1,332 1,332 — 1,332 — Financial Instruments-Liabilities Demand deposits, savings and money market $ 200,678 $ 200,678 $ 200,678 $ — $ — Certificates of deposit 144,509 144,854 — 144,854 — FHLB advances 45,500 45,226 — 45,226 — Advance payments by borrowers for taxes and insurance 1,195 1,195 1,195 — — |
Stock-Based Compensation Shared
Stock-Based Compensation Shared-based Compensation (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Share-based Compensation [Abstract] | |
Schedule of Nonvested Restricted Stock Units Activity | The following tables provide a summary of changes in non-vested restricted stock awards for the three months ended September 30, 2017: For the Three Months Ended September 30, 2017 Weighted-Average Grant Date Fair Value Shares Non-vested at July 1, 2017 38,424 $ 25.75 Granted — — Vested (11,532 ) 25.75 Forfeited and canceled (9,800 ) 25.05 Non-vested at September 30, 2017 17,092 25.75 |
Nature of Business (Details)
Nature of Business (Details) | 3 Months Ended |
Sep. 30, 2017Office | |
Nature of Business [Abstract] | |
Number of full-service bank offices | 10 |
Number of bank offices in Wal-Mart store locations | 1 |
Number of Loan Production Offices | 1 |
Earnings Per Share_ Schedule 33
Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |||
Net income | $ 1,044 | $ 573 | |
Undistributed Earnings, Basic | $ 1,044 | $ 573 | |
Weighted Average Number of Shares Outstanding, Basic | 2,421,049 | 2,391,839 | |
Weighted Average Number of Shares, Restricted Stock | 11,911 | 22,840 | |
Weighted Average Number of Shares Outstanding, Diluted | 2,432,960 | 2,414,679 | |
Basic earnings per share | $ 0.43 | $ 0.24 | |
Diluted earnings per share | $ 0.43 | $ 0.24 | |
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 53,649 | 55,369 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 |
Investments_ Schedule of Invest
Investments: Schedule of Investment Securities by Amortized Cost and Estimated Fair Market Value (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2017USD ($)Security | Jun. 30, 2017USD ($)Security | |
Investment Holdings [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 835 | $ 840 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 12 | 13 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,422 | 2,732 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (83) | (106) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 3,257 | 3,572 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ (95) | $ (119) |
Number of Securities in Unrealized Loss Position | Security | 45 | 47 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Investment Holdings [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 0 | $ 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,468 | 1,548 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (47) | (52) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 1,468 | 1,548 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss | (47) | (52) |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Investment Holdings [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 510 | 539 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (16) | (23) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 510 | 539 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss | (16) | (23) |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Investment Holdings [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 835 | 840 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 12 | 13 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 444 | 645 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (20) | (31) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 1,279 | 1,485 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss | (32) | (44) |
Securities available-for-sale | Municipal Bonds | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 163 | 165 |
Investment Securities Gross Unrealized Gains | 0 | 0 |
Investment Securities Gross Unrealized Losses | 0 | 0 |
Investment Securities Fair Value | 163 | 165 |
Securities available-for-sale | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 10,766 | 11,140 |
Investment Securities Gross Unrealized Gains | 110 | 88 |
Investment Securities Gross Unrealized Losses | (110) | (125) |
Securities available-for-sale | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 8,970 | 9,532 |
Investment Securities Gross Unrealized Gains | 0 | 0 |
Investment Securities Gross Unrealized Losses | (153) | (169) |
Securities available-for-sale | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 508 | 554 |
Investment Securities Gross Unrealized Gains | 0 | 0 |
Investment Securities Gross Unrealized Losses | (14) | (15) |
Securities available-for-sale | Total available-for-sale | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 20,407 | 21,391 |
Investment Securities Gross Unrealized Gains | 110 | 88 |
Investment Securities Gross Unrealized Losses | (277) | (309) |
Investment Securities Fair Value | 20,240 | 21,170 |
Securities held-to-maturity | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 2,100 | 2,212 |
Investment Securities Gross Unrealized Gains | 50 | 53 |
Investment Securities Gross Unrealized Losses | (47) | (52) |
Investment Securities Fair Value | 2,103 | 2,213 |
Securities held-to-maturity | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 1,142 | 1,209 |
Investment Securities Gross Unrealized Gains | 68 | 71 |
Investment Securities Gross Unrealized Losses | (16) | (23) |
Investment Securities Fair Value | 1,194 | 1,257 |
Securities held-to-maturity | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 1,311 | 1,528 |
Investment Securities Gross Unrealized Gains | 0 | 0 |
Investment Securities Gross Unrealized Losses | (32) | (44) |
Investment Securities Fair Value | 1,279 | 1,484 |
Securities held-to-maturity | Total held-to-maturity | ||
Investment Holdings [Line Items] | ||
Investment Securities Amortized Cost | 4,553 | 4,949 |
Investment Securities Gross Unrealized Gains | 118 | 124 |
Investment Securities Gross Unrealized Losses | (95) | (119) |
Investment Securities Fair Value | $ 4,576 | $ 4,954 |
Investments_ Schedule of Tempor
Investments: Schedule of Temporary Impairment Losses, Investments (Details) $ in Thousands | Sep. 30, 2017USD ($)Security | Jun. 30, 2017USD ($)Security |
Investment Holdings [Line Items] | ||
Number of Securities in Unrealized Loss Position | Security | 45 | 47 |
Investments available for sale | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 6,263 | $ 7,204 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Losses | (42) | (54) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 8,259 | 8,287 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | (235) | (255) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 14,522 | 15,491 |
Available for Sale Securities Continuous Unrealized Loss Position Losses | (277) | (309) |
Investments available for sale | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,405 | 2,626 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Losses | (20) | (25) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,013 | 3,185 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | (90) | (100) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 5,418 | 5,811 |
Available for Sale Securities Continuous Unrealized Loss Position Losses | (110) | (125) |
Investments available for sale | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 3,858 | 4,578 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Losses | (22) | (29) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4,752 | 4,563 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | (132) | (140) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 8,610 | 9,141 |
Available for Sale Securities Continuous Unrealized Loss Position Losses | (154) | (169) |
Investments available for sale | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 494 | 539 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | (13) | (15) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 494 | 539 |
Available for Sale Securities Continuous Unrealized Loss Position Losses | $ (13) | $ (15) |
Investments_ Schedule of Contra
Investments: Schedule of Contractual Maturities of Securities (Details) $ in Thousands | Sep. 30, 2017USD ($) |
Total available-for-sale securities contractual maturity | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | $ 20,407 |
Investment Securities Contractual Maturity Fair Value | 20,240 |
Total held-to-maturity securities contractual maturity | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | 4,553 |
Investment Securities Contractual Maturity Fair Value | 4,575 |
Securities available-for-sale | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | 10,766 |
Investment Securities Contractual Maturity Fair Value | 10,766 |
Securities available-for-sale | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | 8,970 |
Investment Securities Contractual Maturity Fair Value | 8,817 |
Securities available-for-sale | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | 508 |
Investment Securities Contractual Maturity Fair Value | 494 |
Securities available-for-sale | Due after ten years | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | 163 |
Investment Securities Contractual Maturity Fair Value | 163 |
Securities held-to-maturity | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | 2,100 |
Investment Securities Contractual Maturity Fair Value | 2,103 |
Securities held-to-maturity | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | 1,142 |
Investment Securities Contractual Maturity Fair Value | 1,193 |
Securities held-to-maturity | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | |
Investment Holdings [Line Items] | |
Investment Securities Contractual Maturity Amortized Cost | 1,311 |
Investment Securities Contractual Maturity Fair Value | $ 1,279 |
Investments_ Schedule of Sales
Investments: Schedule of Sales of Securities and Maturities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Investments [Abstract] | ||
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | $ 0 | $ 852 |
Investments_ Securities Pledged
Investments: Securities Pledged as Collateral Policy (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Pledged to secure public deposits | ||
Investment Holdings [Line Items] | ||
Investment Securities Pledged as Collateral Book Value | $ 4,942 | $ 5,143 |
Investment Securities Pledged as Collateral Fair Value | 4,960 | 5,172 |
Pledged to secure FHLB borrowings | ||
Investment Holdings [Line Items] | ||
Investment Securities Pledged as Collateral Book Value | 920 | 977 |
Investment Securities Pledged as Collateral Fair Value | 956 | 1,009 |
Pledged To Secure Federal Reserve Borrowings [Member] | ||
Investment Holdings [Line Items] | ||
Investment Securities Pledged as Collateral Book Value | 847 | 852 |
Investment Securities Pledged as Collateral Fair Value | $ 835 | $ 840 |
Loans Receivable, Net_ Schedule
Loans Receivable, Net: Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Loans Receivable, Net [Abstract] | ||
Loans receivable one- to four-family real estate | $ 61,555 | $ 59,735 |
Loans receivable multi-family real estate | 61,012 | 60,500 |
Loans Receivable, Gross, Commercial, Real Estate | 148,867 | 155,525 |
Loans receivable construction | 60,963 | 49,151 |
Loans receivable land | 8,097 | 8,054 |
Loans receivable total real estate | 340,494 | 332,965 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 13,991 | 13,991 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 2,535 | 2,596 |
Loans receivable consumer automobile | 573 | 627 |
Loans and Leases Receivable, Gross, Consumer, Other | 1,484 | 1,524 |
Loans receivable total consumer loans | 18,583 | 18,738 |
Loans receivable commercial business | 29,455 | 31,603 |
Loans receivable total loans gross | 388,532 | 383,306 |
Deferred loan fees and unamortized discount on purchased loans | 1,294 | 1,292 |
Financing Receivable, Allowance for Credit Losses | 4,017 | 4,106 |
Loans and Leases Receivable, Net Amount | $ 383,221 | $ 377,908 |
Loans Receivable, Net_ Schedu40
Loans Receivable, Net: Schedule of Activity in Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | $ 4,106 | $ 3,779 |
Provision (benefit) for loan losses | 75 | 75 |
Allowance for Doubtful Accounts Receivable, Charge-offs | (201) | (54) |
Allowance for Doubtful Accounts Receivable, Recoveries | 37 | 24 |
Allowance for loan losses ending balance | 4,017 | 3,824 |
One-to-four family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | 495 | 798 |
Provision (benefit) for loan losses | (207) | (91) |
Allowance for Doubtful Accounts Receivable, Charge-offs | 0 | 0 |
Allowance for Doubtful Accounts Receivable, Recoveries | 14 | 10 |
Allowance for loan losses ending balance | 302 | 717 |
Multi-family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | 580 | 454 |
Provision (benefit) for loan losses | 10 | 9 |
Allowance for Doubtful Accounts Receivable, Charge-offs | 0 | 0 |
Allowance for Doubtful Accounts Receivable, Recoveries | 0 | 0 |
Allowance for loan losses ending balance | 590 | 463 |
Commercial real estate | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | 1,566 | 1,333 |
Provision (benefit) for loan losses | 168 | (24) |
Allowance for Doubtful Accounts Receivable, Charge-offs | (200) | 0 |
Allowance for Doubtful Accounts Receivable, Recoveries | 0 | 0 |
Allowance for loan losses ending balance | 1,534 | 1,309 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | 651 | 271 |
Provision (benefit) for loan losses | 169 | 108 |
Allowance for Doubtful Accounts Receivable, Charge-offs | 0 | 0 |
Allowance for Doubtful Accounts Receivable, Recoveries | 1 | 2 |
Allowance for loan losses ending balance | 821 | 381 |
Land | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | 120 | 75 |
Provision (benefit) for loan losses | (1) | 35 |
Allowance for Doubtful Accounts Receivable, Charge-offs | 0 | 0 |
Allowance for Doubtful Accounts Receivable, Recoveries | 0 | 0 |
Allowance for loan losses ending balance | 119 | 110 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | 378 | 516 |
Provision (benefit) for loan losses | (40) | 42 |
Allowance for Doubtful Accounts Receivable, Charge-offs | (1) | (54) |
Allowance for Doubtful Accounts Receivable, Recoveries | 17 | 9 |
Allowance for loan losses ending balance | 354 | 513 |
Commercial business [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | 316 | 332 |
Provision (benefit) for loan losses | (24) | (4) |
Allowance for Doubtful Accounts Receivable, Charge-offs | 0 | 0 |
Allowance for Doubtful Accounts Receivable, Recoveries | 5 | 3 |
Allowance for loan losses ending balance | 297 | 331 |
Unallocated Financing Receivables [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Allowance for loan losses beginning balance | 0 | 0 |
Provision (benefit) for loan losses | 0 | 0 |
Allowance for Doubtful Accounts Receivable, Charge-offs | 0 | 0 |
Allowance for Doubtful Accounts Receivable, Recoveries | 0 | 0 |
Allowance for loan losses ending balance | $ 0 | $ 0 |
Loans Receivable, Net_ Schedu41
Loans Receivable, Net: Schedule of Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
One-to-four family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $ 1,613 | $ 1,818 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,798 | 1,991 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,957 | 3,210 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 2,967 | 3,220 |
Impaired Financing Receivable, Recorded Investment | 4,570 | 5,028 |
Impaired Financing Receivable, Unpaid Principal Balance | 4,765 | 5,211 |
Impaired Financing Receivable, Related Allowance | 125 | 143 |
Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,992 | |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,992 | |
Impaired Financing Receivable, Recorded Investment | 1,992 | |
Impaired Financing Receivable, Unpaid Principal Balance | 1,992 | |
Impaired Financing Receivable, Related Allowance | 0 | |
Land | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 308 | 311 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 308 | 311 |
Impaired Financing Receivable, Recorded Investment | 308 | 311 |
Impaired Financing Receivable, Unpaid Principal Balance | 308 | 311 |
Impaired Financing Receivable, Related Allowance | 20 | 22 |
Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 263 | 299 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 270 | 303 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 260 | 262 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 260 | 262 |
Impaired Financing Receivable, Recorded Investment | 523 | 561 |
Impaired Financing Receivable, Unpaid Principal Balance | 530 | 565 |
Impaired Financing Receivable, Related Allowance | 41 | 32 |
Commercial business [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 353 | 606 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 422 | 668 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 23 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 23 | |
Impaired Financing Receivable, Recorded Investment | 353 | 629 |
Impaired Financing Receivable, Unpaid Principal Balance | 422 | 691 |
Impaired Financing Receivable, Related Allowance | 0 | 1 |
Total Impaired Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, Recorded Investment | 5,754 | 8,521 |
Impaired Financing Receivable, Unpaid Principal Balance | 6,025 | 8,770 |
Impaired Financing Receivable, Related Allowance | $ 186 | $ 198 |
Loans Receivable, Net_ Schedu42
Loans Receivable, Net: Schedule of Loans Evaluated for Impairment Average Recorded Investment and Interest Income Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
One-to-four family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | $ 1,716 | $ 3,152 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 3 | 14 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 3,084 | 5,967 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 11 | 16 |
Impaired Financing Receivable, Average Recorded Investment | 4,800 | 9,119 |
Impaired Financing Receivable, Interest Income, Accrual Method | 14 | 30 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 996 | 433 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 996 | 433 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Land | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 180 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 1 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 310 | 318 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 7 | 7 |
Impaired Financing Receivable, Average Recorded Investment | 310 | 498 |
Impaired Financing Receivable, Interest Income, Accrual Method | 7 | 8 |
Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 281 | 71 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 1 | 0 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 261 | 366 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 1 | 1 |
Impaired Financing Receivable, Average Recorded Investment | 543 | 437 |
Impaired Financing Receivable, Interest Income, Accrual Method | 2 | 1 |
Commercial business [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 480 | 108 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 1 | 1 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 12 | 118 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 491 | 226 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 1 |
Total Impaired Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 7,140 | 10,713 |
Impaired Financing Receivable, Interest Income, Accrual Method | $ 23 | $ 40 |
Loans Receivable, Net_ Schedu43
Loans Receivable, Net: Schedule of Balance in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | $ 61,555 | $ 59,735 |
Loans receivable multi-family real estate | 61,012 | 60,500 |
Loans Receivable, Gross, Commercial, Real Estate | 148,867 | 155,525 |
Loans receivable construction | 60,963 | 49,151 |
Loans receivable land | 8,097 | 8,054 |
Loans and Leases Receivable, Gross, Consumer, Other | 1,484 | 1,524 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 13,991 | 13,991 |
Loans receivable commercial business | 29,455 | 31,603 |
Ending balance | Loans Receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 61,555 | 59,735 |
Loans receivable multi-family real estate | 61,012 | 60,500 |
Loans Receivable, Gross, Commercial, Real Estate | 148,867 | 155,525 |
Loans receivable construction | 60,963 | 49,151 |
Loans receivable land | 8,097 | 8,054 |
Loans and Leases Receivable before Fees, Gross | 18,583 | 18,738 |
Loans receivable commercial business | 29,455 | 31,603 |
Loans Receivable, Unallocated | 0 | 0 |
Loans Receivable Total Balance in Allowance for Loan Losses | 388,532 | 383,306 |
Ending balance | Allowance for loan losses | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 302 | 495 |
Loans receivable multi-family real estate | 590 | 580 |
Loans Receivable, Gross, Commercial, Real Estate | 1,534 | 1,566 |
Loans receivable construction | 821 | 651 |
Loans receivable land | 119 | 120 |
Loans and Leases Receivable before Fees, Gross | 354 | 378 |
Loans receivable commercial business | 297 | 316 |
Loans Receivable, Unallocated | 0 | 0 |
Loans Receivable Total Balance in Allowance for Loan Losses | 4,017 | 4,106 |
Ending balance individually evaluated for impairment | Loans Receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 4,570 | 5,028 |
Loans receivable multi-family real estate | 0 | 0 |
Loans Receivable, Gross, Commercial, Real Estate | 0 | 1,992 |
Loans receivable construction | 0 | 0 |
Loans receivable land | 308 | 311 |
Loans and Leases Receivable before Fees, Gross | 523 | 561 |
Loans receivable commercial business | 353 | 629 |
Loans Receivable, Unallocated | 0 | 0 |
Loans Receivable Total Balance in Allowance for Loan Losses | 5,754 | 8,521 |
Ending balance individually evaluated for impairment | Allowance for loan losses | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 125 | 143 |
Loans receivable multi-family real estate | 0 | 0 |
Loans Receivable, Gross, Commercial, Real Estate | 0 | 0 |
Loans receivable construction | 0 | 0 |
Loans receivable land | 20 | 22 |
Loans and Leases Receivable before Fees, Gross | 41 | 32 |
Loans receivable commercial business | 0 | 1 |
Loans Receivable, Unallocated | 0 | 0 |
Loans Receivable Total Balance in Allowance for Loan Losses | 186 | 198 |
Ending balance collectively evaluated for impairment | Loans Receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 56,985 | 54,707 |
Loans receivable multi-family real estate | 61,012 | 60,500 |
Loans Receivable, Gross, Commercial, Real Estate | 148,867 | 153,533 |
Loans receivable construction | 60,963 | 49,151 |
Loans receivable land | 7,789 | 7,743 |
Loans and Leases Receivable before Fees, Gross | 18,060 | 18,177 |
Loans receivable commercial business | 29,102 | 30,974 |
Loans Receivable, Unallocated | 0 | 0 |
Loans Receivable Total Balance in Allowance for Loan Losses | 382,778 | 374,785 |
Ending balance collectively evaluated for impairment | Allowance for loan losses | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 177 | 352 |
Loans receivable multi-family real estate | 590 | 580 |
Loans Receivable, Gross, Commercial, Real Estate | 1,534 | 1,566 |
Loans receivable construction | 821 | 651 |
Loans receivable land | 99 | 98 |
Loans and Leases Receivable before Fees, Gross | 313 | 346 |
Loans receivable commercial business | 297 | 315 |
Loans Receivable, Unallocated | 0 | 0 |
Loans Receivable Total Balance in Allowance for Loan Losses | 3,831 | 3,908 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 305 | 646 |
Loans receivable multi-family real estate | 0 | 0 |
Loans Receivable, Gross, Commercial, Real Estate | 0 | 0 |
Loans receivable construction | 0 | 0 |
Loans receivable land | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Other | 0 | 1 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 16 | 36 |
Loans receivable commercial business | $ 106 | $ 107 |
Loans Receivable, Net_ Schedu44
Loans Receivable, Net: Schedule of Financing Receivables, Non Accrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | $ 61,555 | $ 59,735 |
Loans receivable multi-family real estate | 61,012 | 60,500 |
Loans Receivable, Gross, Commercial, Real Estate | 148,867 | 155,525 |
Loans receivable land | 8,097 | 8,054 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 13,991 | 13,991 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 2,535 | 2,596 |
Loans and Leases Receivable, Gross, Consumer, Other | 1,484 | 1,524 |
Loans receivable commercial business | 29,455 | 31,603 |
Loans receivable total loans gross | 388,532 | 383,306 |
Non-accrual status | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 968 | 1,170 |
Loans Receivable, Gross, Commercial, Real Estate | 0 | 1,992 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 207 | 242 |
Loans receivable commercial business | 289 | 300 |
Loans receivable total loans gross | $ 1,464 | $ 3,704 |
Loans Receivable, Net_ Schedu45
Loans Receivable, Net: Schedule of Past Due Loans by Class (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
One-to-four family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 1,817 | $ 1,185 |
Financing Receivable, Recorded Investment, Current | 59,738 | 58,550 |
Financing Receivables Total | 61,555 | 59,735 |
One-to-four family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 732 | 15 |
One-to-four family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 117 | 0 |
One-to-four family [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 968 | 1,170 |
Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Current | 61,012 | 60,500 |
Financing Receivables Total | 61,012 | 60,500 |
Multi-family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Multi-family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Multi-family [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 2,179 |
Financing Receivable, Recorded Investment, Current | 148,867 | 153,346 |
Financing Receivables Total | 148,867 | 155,525 |
Commercial real estate | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 187 |
Commercial real estate | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial real estate | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 1,992 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Current | 60,963 | 49,151 |
Financing Receivables Total | 60,963 | 49,151 |
Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Current | 8,097 | 8,054 |
Financing Receivables Total | 8,097 | 8,054 |
Land | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Land | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Land | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Home equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 248 | 262 |
Financing Receivable, Recorded Investment, Current | 13,743 | 13,729 |
Financing Receivables Total | 13,991 | 13,991 |
Home equity | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 41 | 16 |
Home equity | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 4 |
Home equity | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 207 | 242 |
Consumer credit cards | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 8 | 13 |
Financing Receivable, Recorded Investment, Current | 2,527 | 2,583 |
Financing Receivables Total | 2,535 | 2,596 |
Consumer credit cards | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 5 | 13 |
Consumer credit cards | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 3 | 0 |
Consumer credit cards | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer automobile [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Current | 573 | 627 |
Financing Receivables Total | 573 | 627 |
Consumer automobile [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer automobile [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer automobile [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 9 | 8 |
Financing Receivable, Recorded Investment, Current | 1,475 | 1,516 |
Financing Receivables Total | 1,484 | 1,524 |
Consumer other | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 2 | 0 |
Consumer other | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 7 | 8 |
Consumer other | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 289 | 407 |
Financing Receivable, Recorded Investment, Current | 29,166 | 31,196 |
Financing Receivables Total | 29,455 | 31,603 |
Commercial business [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 107 |
Commercial business [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial business [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 289 | 300 |
Total for segments | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 2,371 | 4,054 |
Financing Receivable, Recorded Investment, Current | 386,161 | 379,252 |
Financing Receivables Total | 388,532 | 383,306 |
Total for segments | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 780 | 338 |
Total for segments | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 127 | 12 |
Total for segments | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 1,464 | $ 3,704 |
Loans Receivable, Net_ Schedu46
Loans Receivable, Net: Schedule of Credit Quality Internal Rating System (Details) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | $ 61,555 | $ 59,735 |
Loans receivable multi-family real estate | 61,012 | 60,500 |
Loans Receivable, Gross, Commercial, Real Estate | 148,867 | 155,525 |
Loans receivable construction | 60,963 | 49,151 |
Loans receivable land | 8,097 | 8,054 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 13,991 | 13,991 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 2,535 | 2,596 |
Loans receivable consumer automobile | 573 | 627 |
Loans and Leases Receivable, Gross, Consumer, Other | 1,484 | 1,524 |
Loans receivable commercial business | 29,455 | 31,603 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 59,378 | 57,075 |
Loans receivable multi-family real estate | 60,489 | 59,973 |
Loans Receivable, Gross, Commercial, Real Estate | 147,262 | 150,762 |
Loans receivable construction | 60,963 | 49,151 |
Loans receivable land | 8,097 | 7,743 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 13,247 | 13,202 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 2,527 | 2,583 |
Loans receivable consumer automobile | 573 | 627 |
Loans and Leases Receivable, Gross, Consumer, Other | 1,478 | 1,510 |
Loans receivable commercial business | 28,363 | 29,972 |
Loans Receivable Total by Internal Rating System | $ 382,377 | 372,598 |
Pass [Member] | Minimum | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Debt Service Coverage Ratio | 1 | |
Watch [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | $ 917 | 984 |
Loans receivable multi-family real estate | 523 | 527 |
Loans Receivable, Gross, Commercial, Real Estate | 1,605 | 2,771 |
Loans receivable construction | 0 | 0 |
Loans receivable land | 0 | 311 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 371 | 361 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 8 | 13 |
Loans receivable consumer automobile | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Other | 0 | 6 |
Loans receivable commercial business | 697 | 1,224 |
Loans Receivable Total by Internal Rating System | 4,121 | 6,197 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 955 | 1,030 |
Loans receivable multi-family real estate | 0 | 0 |
Loans Receivable, Gross, Commercial, Real Estate | 0 | 1,992 |
Loans receivable construction | 0 | 0 |
Loans receivable land | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 357 | 392 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 0 | 0 |
Loans receivable consumer automobile | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Other | 6 | 7 |
Loans receivable commercial business | 289 | 300 |
Loans Receivable Total by Internal Rating System | $ 1,607 | 3,721 |
Substandard [Member] | Minimum | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Debt Service Coverage Ratio | 1 | |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | $ 305 | 646 |
Loans receivable multi-family real estate | 0 | 0 |
Loans Receivable, Gross, Commercial, Real Estate | 0 | 0 |
Loans receivable construction | 0 | 0 |
Loans receivable land | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 16 | 36 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 0 | 0 |
Loans receivable consumer automobile | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Other | 0 | 1 |
Loans receivable commercial business | 106 | 107 |
Loans Receivable Total by Internal Rating System | 427 | 790 |
Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 0 | 0 |
Loans receivable multi-family real estate | 0 | 0 |
Loans Receivable, Gross, Commercial, Real Estate | 0 | 0 |
Loans receivable construction | 0 | 0 |
Loans receivable land | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 0 | 0 |
Loans receivable consumer automobile | 0 | 0 |
Loans and Leases Receivable, Gross, Consumer, Other | 0 | 0 |
Loans receivable commercial business | 0 | 0 |
Loans Receivable Total by Internal Rating System | 0 | 0 |
Total by indicator [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable one- to four-family real estate | 61,555 | 59,735 |
Loans receivable multi-family real estate | 61,012 | 60,500 |
Loans Receivable, Gross, Commercial, Real Estate | 148,867 | 155,525 |
Loans receivable construction | 60,963 | 49,151 |
Loans receivable land | 8,097 | 8,054 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 13,991 | 13,991 |
Loans and Leases Receivable, Gross, Consumer, Revolving, Credit Card | 2,535 | 2,596 |
Loans receivable consumer automobile | 573 | 627 |
Loans and Leases Receivable, Gross, Consumer, Other | 1,484 | 1,524 |
Loans receivable commercial business | 29,455 | 31,603 |
Loans Receivable Total by Internal Rating System | $ 388,532 | $ 383,306 |
Loans Receivable, Net_ Schedu47
Loans Receivable, Net: Schedule of Troubled Debt Restructurings by Accrual versus Nonaccrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
One-to-four family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings Accrual Status | $ 3,602 | $ 3,622 |
Troubled Debt Restructurings Nonaccrual Status | 124 | 131 |
Troubled Debt Restructurings Total Modifications | 3,726 | 3,753 |
Land | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings Accrual Status | 308 | 311 |
Troubled Debt Restructurings Nonaccrual Status | 0 | 0 |
Troubled Debt Restructurings Total Modifications | 308 | 311 |
Home equity | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings Accrual Status | 166 | 169 |
Troubled Debt Restructurings Nonaccrual Status | 0 | 0 |
Troubled Debt Restructurings Total Modifications | 166 | 169 |
Commercial business [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings Accrual Status | 63 | 87 |
Troubled Debt Restructurings Nonaccrual Status | 0 | 0 |
Troubled Debt Restructurings Total Modifications | 63 | 87 |
Total modifications [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings Accrual Status | 4,139 | 4,189 |
Troubled Debt Restructurings Nonaccrual Status | 124 | 131 |
Troubled Debt Restructurings Total Modifications | $ 4,263 | $ 4,320 |
Loans Receivable, Net_ Schedu48
Loans Receivable, Net: Schedule of Debtor Troubled Debt Restructuring, Current Period (Details) | 3 Months Ended |
Sep. 30, 2017Contract | |
Financing Receivable, Modifications [Line Items] | |
Financing Receivable, Modifications, Number of Contracts | 0 |
Loans Receivable, Net_ Schedu49
Loans Receivable, Net: Schedule of Troubled Debt Restructurings With Subsequent Default (Details) | 3 Months Ended |
Sep. 30, 2017Contract | |
Financing Receivable, Modifications [Line Items] | |
Troubled Debt Restructuring Number of Contracts | 0 |
Real Estate Owned, Net_ Sched50
Real Estate Owned, Net: Schedule of Real Estate Properties (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Other Real Estate [Roll Forward] | ||
Balance at the beginning of the period | $ 867 | $ 373 |
Net loans transferred to real estate owned | 1,791 | 168 |
Sales of Real Estate Owned | 0 | (282) |
Gain on sale of real estate owned | 0 | 12 |
Balance at the end of period | $ 2,658 | $ 271 |
Employee Benefit Plans_ Sched51
Employee Benefit Plans: Schedule of Employee Stock Ownership Plan (ESOP) Disclosures (Details) - USD ($) | Jan. 25, 2011 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Employee Stock Ownership Plan (ESOP), Amount borrowed | $ 1,000,000 | |||
Shares contributed to ESOP | 102,000 | |||
Common stock issued, shares, offering price per share | $ 10 | |||
ESOP expense | $ 43,000 | $ 44,000 | ||
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares | 48,351 | 46,631 | ||
Employee Stock Ownership Plan (ESOP), Number Of Unallocated Shares | 53,649 | 55,369 | ||
Employee Stock Ownership Plan (ESOP), Shares in ESOP | 102,000 | 102,000 | ||
Fair Value of Unallocated ESOP Shares | $ 1,328,000 | $ 1,387,000 |
Fair Value Measurements_ Schedu
Fair Value Measurements: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | $ 20,240 | $ 21,170 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 20,240 | 21,170 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 163 | 165 |
Fair Value, Measurements, Recurring [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 10,766 | 11,103 |
Fair Value, Measurements, Recurring [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 8,817 | 9,363 |
Fair Value, Measurements, Recurring [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 494 | 539 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Municipal Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 163 | 165 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 0 | 0 |
Securities available-for-sale | Municipal Bonds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 163 | 165 |
Securities available-for-sale | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 10,766 | 11,103 |
Securities available-for-sale | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | 8,817 | 9,363 |
Securities available-for-sale | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value Disclosure | $ 494 | $ 539 |
Fair Value Measurements_ Sche53
Fair Value Measurements: Schedule of Fair Value Assets and Liabilities Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Home equity | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | $ 260 | |
Home equity | Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Home equity | Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Home equity | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 260 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 4,531 | $ 4,823 |
Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 4,531 | 4,823 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 4,531 | 4,823 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 4,531 | 4,823 |
Fair Value, Measurements, Nonrecurring [Member] | One-to-four family [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 3,963 | 4,227 |
Fair Value, Measurements, Nonrecurring [Member] | One-to-four family [Member] | Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | One-to-four family [Member] | Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | One-to-four family [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 3,963 | 4,227 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 262 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 262 | |
Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 308 | 311 |
Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | $ 308 | 311 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial business [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 23 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial business [Member] | Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial business [Member] | Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial business [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | $ 23 |
Fair Value Measurements_ Sche54
Fair Value Measurements: Schedule of Quantitative Information About Level 3 Fair Value Instruments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Jun. 30, 2016 | |
Non-recurring Basis | Impaired Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Level 3 Fair Value Financial Instruments | $ 4,531 | $ 4,823 |
Impaired Loans [Member] | Collateral Value Method [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Inputs, Discount Rate | 0.00% | 0.00% |
Impaired Loans [Member] | Collateral Value Method [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Inputs, Discount Rate | 10.00% | 10.00% |
Impaired Loans [Member] | Collateral Value Method [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Inputs, Discount Rate | 4.00% | 3.00% |
Fair Value Measurements_ Sche55
Fair Value Measurements: Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | $ 8,925 | $ 14,194 | $ 12,327 | $ 8,320 |
Securities available for sale, at fair value | 20,240 | 21,170 | ||
Securities held-to-maturity | 4,575 | 4,954 | ||
Loans Receivable Held-for-sale, Amount | 0 | 1,551 | ||
Bank Owned Life Insurance | 20,159 | 20,030 | ||
Accrued interest receivable | 1,344 | 1,332 | ||
Advance payments by borrowers for taxes and insurance | 1,903 | 1,195 | ||
Reported Value Measurement [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 8,925 | 14,194 | ||
Securities available for sale, at fair value | 20,240 | 21,170 | ||
Securities held-to-maturity | 4,553 | 4,949 | ||
FHLB stock | 2,036 | 2,348 | ||
Loans Receivable Held-for-sale, Amount | 0 | 1,551 | ||
Loans | 387,238 | 382,014 | ||
Bank Owned Life Insurance | 20,159 | |||
Accrued interest receivable | 1,344 | 1,332 | ||
Demand deposits, savings and money market | 201,582 | 200,678 | ||
Certificates of deposit | 146,794 | 144,509 | ||
FHLB advances | 37,700 | 45,500 | ||
Advance payments by borrowers for taxes and insurance | 1,903 | 1,195 | ||
Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 8,925 | 14,194 | ||
Securities available for sale, at fair value | 20,240 | 21,170 | ||
Securities held-to-maturity | 4,575 | 4,954 | ||
FHLB stock | 2,036 | 2,348 | ||
Loans Receivable Held-for-sale, Amount | 0 | 1,551 | ||
Loans | 378,999 | 374,599 | ||
Bank Owned Life Insurance | 20,159 | |||
Accrued interest receivable | 1,344 | 1,332 | ||
Demand deposits, savings and money market | 201,582 | 200,678 | ||
Certificates of deposit | 147,171 | 144,854 | ||
FHLB advances | 37,476 | 45,226 | ||
Advance payments by borrowers for taxes and insurance | 1,903 | 1,195 | ||
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 8,925 | 14,194 | ||
Securities available for sale, at fair value | 0 | 0 | ||
Securities held-to-maturity | 0 | 0 | ||
FHLB stock | 0 | 0 | ||
Loans Receivable Held-for-sale, Amount | 0 | 1,551 | ||
Loans | 0 | 0 | ||
Bank Owned Life Insurance | 0 | |||
Accrued interest receivable | 0 | 0 | ||
Demand deposits, savings and money market | 201,582 | 200,678 | ||
Certificates of deposit | 0 | 0 | ||
FHLB advances | 0 | 0 | ||
Advance payments by borrowers for taxes and insurance | 1,903 | 1,195 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale, at fair value | 20,240 | 21,170 | ||
Securities held-to-maturity | 4,575 | 4,954 | ||
FHLB stock | 2,036 | 2,348 | ||
Loans Receivable Held-for-sale, Amount | 0 | 0 | ||
Loans | 0 | 0 | ||
Bank Owned Life Insurance | 20,159 | |||
Accrued interest receivable | 1,344 | 1,332 | ||
Demand deposits, savings and money market | 0 | 0 | ||
Certificates of deposit | 144,854 | 144,854 | ||
FHLB advances | 37,226 | 45,226 | ||
Advance payments by borrowers for taxes and insurance | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale, at fair value | 0 | 0 | ||
Securities held-to-maturity | 0 | 0 | ||
FHLB stock | 0 | 0 | ||
Loans Receivable Held-for-sale, Amount | 0 | 0 | ||
Loans | 378,999 | 374,599 | ||
Bank Owned Life Insurance | 0 | |||
Accrued interest receivable | 0 | 0 | ||
Demand deposits, savings and money market | 0 | 0 | ||
Certificates of deposit | 0 | 0 | ||
FHLB advances | 0 | 0 | ||
Advance payments by borrowers for taxes and insurance | $ 0 | $ 0 |
Stock-Based Compensation Shar56
Stock-Based Compensation Shared-Based Compensation (Details) | 3 Months Ended |
Sep. 30, 2017USD ($)$ / sharesshares | |
Share-based Compensation Allocation and Classification in Financial Statements | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 193,800 |
Allocated Share-based Compensation Expense | $ | $ 47,000 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ | 16,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 107,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Granted | 87,572 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years |
Anchor Bancorp 2015 Equity Incentive Plan | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Non-vested Beginning Balance | 38,424 |
Granted | 0 |
Vested | (11,532) |
Forfeited | (9,800) |
Non-vested Ending Balance | 17,092 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Non-vested Beginning Balance, Weighted Average Grant Date Fair Value | $ / shares | $ 25.75 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 0 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 25.75 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 25.05 |
Non-vested Ending Balance, Weighted Average Grant Date Fair Value | $ / shares | $ 25.75 |
Federal Income Taxes Narrative
Federal Income Taxes Narrative (Details) $ in Millions | Sep. 30, 2017USD ($) |
Income Tax Disclosure [Abstract] | |
Net deferred tax asset, before valuation allowance | $ 7.7 |
Operating Loss Carryforwards | $ 9.2 |