Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Dec. 31, 2013 | Feb. 07, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
Entity Registrant Name | 'OBA Financial Services, Inc. | ' |
Entity Central Index Key | '0001471088 | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 4,038,006 |
Consolidated_Statements_of_Con
Consolidated Statements of Condition (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash and due from banks | $14,545 | $16,006 |
Federal funds sold | 1,313 | 167 |
Cash and cash equivalents | 15,858 | 16,173 |
Interest bearing deposits with other banks | 4,456 | 6,692 |
Securities available for sale | 43,818 | 37,174 |
Securities held to maturity (fair value of $1,286 and $1,520) | 1,211 | 1,445 |
Federal Home Loan Bank stock, at cost | 1,160 | 1,160 |
Loans held for sale | ' | 414 |
Loans | 303,918 | 303,276 |
Less: allowance for loan losses | 3,494 | 3,473 |
Net loans | 300,424 | 299,803 |
Premises and equipment, net | 5,376 | 5,624 |
Bank owned life insurance | 9,314 | 9,182 |
Other assets | 3,938 | 3,944 |
Total assets | 385,555 | 381,611 |
Liabilities: | ' | ' |
Deposits: Noninterest-bearing | 47,250 | 42,422 |
Deposits: Interest-bearing | 241,928 | 240,841 |
Total deposits | 289,178 | 283,263 |
Securities sold under agreements to repurchase | 6,672 | 8,544 |
Federal Home Loan Bank advances | 15,560 | 15,623 |
Advance payments from borrowers for taxes and insurance | 302 | 1,324 |
Other liabilities | 1,524 | 1,553 |
Total liabilities | 313,236 | 310,307 |
Stockholders' Equity: | ' | ' |
Preferred stock (par value $.01); authorized 50,000,000 shares; no shares issued or outstanding | 0 | 0 |
Common stock (par value $.01); authorized 100,000,000 shares; issued and outstanding 4,038,006 and 4,048,436 shares at December 31, 2013 and June 30, 2013, respectively | 40 | 40 |
Additional paid-in capital | 34,163 | 33,726 |
Unearned ESOP shares | -2,962 | -3,055 |
Retained earnings | 41,156 | 40,531 |
Accumulated other comprehensive income (loss) | -78 | 62 |
Total stockholders' equity | 72,319 | 71,304 |
Total liabilities and stockholders' equity | $385,555 | $381,611 |
Consolidated_Statements_of_Con1
Consolidated Statements of Condition (Parenthetical) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Statements of Condition | ' | ' |
Held-to-maturity Securities, Fair Value | $1,286 | $1,520 |
Preferred Stock, Par or Stated Value Per Share | $0.01 | $0.01 |
Preferred Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 4,038,006 | 4,048,436 |
Common Stock, Shares, Outstanding | 4,038,006 | 4,048,436 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest and Dividend Income: | ' | ' | ' | ' |
Loans receivable, including fees | $3,689 | $3,684 | $7,287 | $7,285 |
Investment securities: Interest - taxable | 234 | 277 | 460 | 547 |
Investment securities: Dividends | 9 | 14 | 17 | 21 |
Federal funds sold | 19 | 9 | 34 | 23 |
Total interest and dividend income | 3,951 | 3,984 | 7,798 | 7,876 |
Interest Expense: | ' | ' | ' | ' |
Deposits | 304 | 314 | 618 | 666 |
Federal Home Loan Bank advances | 169 | 219 | 339 | 457 |
Securities sold under agreements to repurchase | 7 | 47 | 12 | 94 |
Total interest expense | 480 | 580 | 969 | 1,217 |
Net interest income | 3,471 | 3,404 | 6,829 | 6,659 |
Provision for loan losses | 15 | -17 | 20 | 95 |
Net interest income after provision for loan losses | 3,456 | 3,421 | 6,809 | 6,564 |
Non-Interest Income: | ' | ' | ' | ' |
Customer service fees | 86 | 93 | 179 | 183 |
Loan servicing fees | 5 | 5 | 9 | 10 |
Bank owned life insurance income | 67 | 71 | 132 | 144 |
Net gains (losses) | 7 | -24 | 32 | -24 |
Other non-interest income | 55 | 30 | 89 | 62 |
Total non-interest income | 220 | 175 | 441 | 375 |
Non-Interest Expense: | ' | ' | ' | ' |
Salaries and employee benefits | 1,778 | 1,734 | 3,633 | 3,504 |
Occupancy and equipment | 396 | 380 | 784 | 768 |
Data processing | 275 | 189 | 511 | 386 |
Directors' fees | 101 | 89 | 192 | 183 |
FDIC assessments | 50 | 69 | 78 | 138 |
Other non-interest expense | 544 | 447 | 983 | 850 |
Total non-interest expense | 3,144 | 2,908 | 6,181 | 5,829 |
Income before income taxes | 532 | 688 | 1,069 | 1,110 |
Income tax expense | 221 | 291 | 444 | 453 |
Net income | $311 | $397 | $625 | $657 |
Basic earnings per share | $0.08 | $0.10 | $0.17 | $0.17 |
Diluted earnings per share | $0.08 | $0.10 | $0.17 | $0.17 |
Basic weighted average shares outstanding | 3,737,188 | 3,799,778 | 3,736,005 | 3,812,501 |
Diluted weighted average shares outstanding | 3,777,943 | 3,871,539 | 3,775,269 | 3,862,525 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $311 | $397 | $625 | $657 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Net unrealized gains (losses) on available for sale securities, net of benefit of $82, $148, $90 and $3, respectively | -129 | -231 | -140 | -4 |
Other comprehensive income (loss) | -129 | -231 | -140 | -4 |
Comprehensive income | $182 | $166 | $485 | $653 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net unrealized losses on available for sale securities, tax | $82 | $148 | $90 | $3 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity and Comprehensive Income (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Unearned ESOP Shares [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands | ||||||
Balances, at Jun. 30, 2012 | $43 | $38,695 | ($3,240) | $39,409 | $808 | $75,715 |
Net income | ' | ' | ' | 657 | ' | 657 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | -4 | -4 |
Purchase and retirement of Company stock | ' | -1,321 | ' | ' | ' | -1,321 |
Share-based compensation expense | ' | 469 | ' | ' | ' | 469 |
Tax benefit of restricted shares vesting | ' | 21 | ' | ' | ' | 21 |
ESOP shares committed to be released | ' | 54 | 92 | ' | ' | 146 |
Balances, at Dec. 31, 2012 | 43 | 37,918 | -3,148 | 40,066 | 804 | 75,683 |
Balances, at Jun. 30, 2013 | 40 | 33,726 | -3,055 | 40,531 | 62 | 71,304 |
Net income | ' | ' | ' | 625 | ' | 625 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | -140 | -140 |
Purchase and retirement of Company stock | ' | -18 | ' | ' | ' | -18 |
Retirement of shares for tax payments | ' | -173 | ' | ' | ' | -173 |
Share-based compensation expense | ' | 478 | ' | ' | ' | 478 |
Tax benefit of restricted shares vesting | ' | 70 | ' | ' | ' | 70 |
ESOP shares committed to be released | ' | 80 | 93 | ' | ' | 173 |
Balances, at Dec. 31, 2013 | $40 | $34,163 | ($2,962) | $41,156 | ($78) | $72,319 |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity and Comprehensive Income (Parenthetical) | 6 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Consolidated Statements of Stockholders' Equity and Comprehensive Income | ' | ' |
Purchase and retirement of common stock, shares | 1,000 | 85,600 |
Retirement Of Common Stock For Tax Payments | 9,430 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 49,985 | 49,485 |
ESOP shares committed to be released, shares | 9,258 | 9,258 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities: | ' | ' |
Net income | $625 | $657 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 20 | 95 |
Depreciation and amortization of premises and equipment | 307 | 331 |
Net amortization of securities premiums and discounts | 119 | 193 |
Proceeds from sales of loans held for sale | 1,627 | 1,105 |
Originated loans held for sale | -1,181 | -1,504 |
Net gains on sales of loans | -32 | -16 |
Amortization of net deferred loan fees | -149 | -18 |
Loss on other real estate owned | ' | 40 |
Bank owned life insurance income | -132 | -144 |
ESOP expense | 173 | 146 |
Share-based compensation expense | 478 | 469 |
Amortization of mortgage servicing rights | 2 | 5 |
Amortization of brokered deposit premiums | 15 | ' |
Tax benefit from vesting of restricted shares | -70 | -21 |
Changes in other assets and liabilities, net | 120 | -11 |
Total adjustments | 1,297 | 670 |
Net cash provided by operating activities | 1,922 | 1,327 |
Investing Activities: | ' | ' |
Principal collections and maturities of securities available for sale | 3,971 | 7,334 |
Principal collections and maturities of securities held to maturity | 233 | 532 |
Purchases of securities available for sale | -10,963 | -16,384 |
Redemption of Federal Home Loan Bank Stock, net | ' | 384 |
Decrease in interest bearing deposits with other banks, net | 2,236 | 957 |
Loan originations less principal collections, net | -492 | -1,310 |
Purchases of premises and equipment | -59 | -82 |
Net cash used in investing activities | -5,074 | -8,569 |
Financing Activities: | ' | ' |
Increase (decrease) in deposits | 5,915 | -2,919 |
Decrease in securities sold under agreements to repurchase | -1,872 | -6,643 |
Proceeds from FHLB advances | ' | 5,000 |
Repayment of FHLB advances | -63 | -5,061 |
Net decrease in advance payments from borrowers for taxes and insurance | -1,022 | -1,398 |
Tax benefit from vesting of restricted shares | 70 | 21 |
Purchase and retirement of Company stock | -191 | -1,321 |
Net cash provided by (used in) financing activities | 2,837 | -12,321 |
Decrease in cash and cash equivalents | -315 | -19,563 |
Cash and cash equivalents at beginning of period | 16,173 | 31,525 |
Cash and cash equivalents at end of period | 15,858 | 11,962 |
Supplemental Disclosures: | ' | ' |
Interest paid | 963 | 1,258 |
Income taxes paid (refunded), net | $475 | $154 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
OBA Financial Services, Inc. and Subsidiary | |
Notes to the Consolidated Financial Statements (Unaudited) | |
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Organization and Nature of Business | |
OBA Bank (“Bank”) is a community-oriented banking institution providing a variety of financial services to individuals and small businesses through its offices in Montgomery, Anne Arundel, and Howard Counties, Maryland. Its primary deposits are checking, money market, and time certificate accounts and its primary lending products are commercial mortgage, commercial business, construction, and residential mortgage loans. | |
In December 2007, the Bank reorganized into a three-tier mutual holding company structure. As part of the reorganization, the Bank converted from a mutual savings bank into a federally chartered stock savings bank and formed OBA Bancorp, Inc., a federally chartered mid-tier stock holding company, and OBA Bancorp, MHC, a federally chartered mutual holding company. The Bank became a wholly-owned subsidiary of OBA Bancorp, Inc. and OBA Bancorp, Inc. became a wholly-owned subsidiary of OBA Bancorp, MHC. | |
On January 21, 2010, OBA Bancorp, MHC completed its plan of conversion and reorganization from a mutual holding company to a stock holding company. In accordance with the plan, OBA Bancorp, MHC and OBA Bancorp, Inc. ceased to exist and a newly formed stock holding company, OBA Financial Services, Inc. (of which OBA Bank became a wholly owned subsidiary) sold shares of capital stock to eligible depositors of OBA Bank. OBA Financial Services, Inc.’s common stock is quoted on the NASDAQ Capital Market under the symbol “OBAF.” | |
In accordance with applicable regulations at the time of the conversion from a mutual holding company to a stock holding company, the Bank substantially restricted retained earnings by establishing a liquidation account. The liquidation account is maintained for the benefit of eligible account holders who keep their accounts at the Bank after conversion. The liquidation account is reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation account. In the event of a complete liquidation of the Bank, and only in such event, each account holder will be entitled to receive a distribution from the liquidation account in an amount proportionate to the adjusted qualifying account balances then held. The Bank may not pay dividends if those dividends would reduce equity capital below the required liquidation account amount. | |
Basis of Presentation | |
The consolidated financial statements include the accounts of OBA Financial Services Inc. and OBA Bank. All significant intercompany accounts and transactions have been eliminated in consolidation. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and are presented in accordance with instructions for Form 10-Q and Rule 10-01 of the SEC Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation are of a normal and recurring nature and have been included. | |
Operating results for the three and six months ended December 31, 2013 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2014 or any other interim period. The consolidated financial statements presented in this report should be read in conjunction with the audited consolidated financial statements and the accompanying notes filed on Form 10-K for the fiscal year ended June 30, 2013. | |
In preparing the accompanying consolidated financial statements, the Company has evaluated subsequent events through the financial statement issue date. There were no subsequent events identified by the Company as a result of the evaluation that require recognition or disclosure in the consolidated financial statements. | |
Use of Estimates | |
In preparing the consolidated financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Statement of Condition and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly sensitive to change in the near term relates to the determination of the allowance for loan losses, values related to the share-based incentive plans, and other than temporary impairment of investment securities. | |
Reclassifications | |
From time to time, certain amounts in the prior period consolidated financial statements are reclassified to conform with current period presentation. Such reclassifications, if any, have no material impact on consolidated net income or total stockholders’ equity. | |
Recent Accounting Pronouncements | |
There are no recent accounting pronouncements that have had or are expected to have a material impact to the Company’s consolidated financial statements that have not been previously disclosed. | |
Comprehensive_Income
Comprehensive Income | 6 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Comprehensive Income [Abstract] | ' | |||||||
COMPREHENSIVE INCOME | ' | |||||||
NOTE 2 — COMPREHENSIVE INCOME (LOSS) | ||||||||
U.S. GAAP requires that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the stockholders’ equity section of the Consolidated Statement of Condition, such items, along with net income, are components of comprehensive income and accumulated other comprehensive income. The components of accumulated other comprehensive income and related tax effects are as follows: | ||||||||
Accumulated other comprehensive income (loss) consists of the following: | ||||||||
December 31, | June 30, | |||||||
2013 | 2013 | |||||||
(In thousands) | ||||||||
Unrealized gains (losses) on available for sale securities | $ | -128 | $ | 102 | ||||
Tax effect | -50 | 40 | ||||||
Total | $ | -78 | $ | 62 | ||||
Securities
Securities | 6 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Securities [Abstract] | ' | ||||||||||||||||
SECURITIES | ' | ||||||||||||||||
NOTE 3 — SECURITIES | |||||||||||||||||
The amortized cost and fair value of securities with gross unrealized gains and losses are as follows: | |||||||||||||||||
Gross | Gross | ||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||
(In thousands) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||
Securities available for sale: | |||||||||||||||||
Debt Securities: | |||||||||||||||||
Residential mortgage-backed securities (1) | $ | 43,863 | $ | 601 | $ | -728 | $ | 43,736 | |||||||||
Trust preferred security | 33 | - | -1 | 32 | |||||||||||||
Total debt securities available for sale | 43,896 | 601 | -729 | 43,768 | |||||||||||||
Equity securities | 50 | - | - | 50 | |||||||||||||
Total securities available for sale | 43,946 | 601 | -729 | 43,818 | |||||||||||||
Securities held to maturity: | |||||||||||||||||
Debt Securities: | |||||||||||||||||
Residential mortgage-backed securities (1) | 1,211 | 75 | - | 1,286 | |||||||||||||
Total debt securities held to maturity | 1,211 | 75 | - | 1,286 | |||||||||||||
Total investment securities | $ | 45,157 | $ | 676 | $ | -729 | $ | 45,104 | |||||||||
30-Jun-13 | |||||||||||||||||
Securities available for sale: | |||||||||||||||||
Debt Securities: | |||||||||||||||||
Residential mortgage-backed securities (1) | $ | 36,981 | $ | 616 | $ | -513 | $ | 37,084 | |||||||||
Trust preferred security | 41 | - | -1 | 40 | |||||||||||||
Total debt securities available for sale | 37,022 | 616 | -514 | 37,124 | |||||||||||||
Equity securities | 50 | - | - | 50 | |||||||||||||
Total securities available for sale | 37,072 | 616 | -514 | 37,174 | |||||||||||||
Securities held to maturity: | |||||||||||||||||
Debt Securities: | |||||||||||||||||
Residential mortgage-backed securities (1) | 1,445 | 75 | - | 1,520 | |||||||||||||
Total debt securities held to maturity | 1,445 | 75 | - | 1,520 | |||||||||||||
Total investment securities | $ | 38,517 | $ | 691 | $ | -514 | $ | 38,694 | |||||||||
(1)All residential mortgage-backed securities were issued by FNMA, FHLMC, or GNMA. | |||||||||||||||||
The amortized cost and fair value of debt securities by contractual maturity at December 31, 2013 are as follows: | |||||||||||||||||
Available for sale | Held to Maturity | ||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||
Cost | Value | Cost | Value | ||||||||||||||
(In thousands) | |||||||||||||||||
Due after ten years | $ | 33 | $ | 32 | $ | - | $ | - | |||||||||
Residential mortgage-backed securities | 43,863 | 43,736 | 1,211 | 1,286 | |||||||||||||
Total | $ | 43,896 | $ | 43,768 | $ | 1,211 | $ | 1,286 | |||||||||
At December 31, 2013 the market value of securities securing customer repurchase agreements was $16.3 million. There were no dealer repurchase agreements. At June 30, 2013, the market value of securities securing customer repurchase agreements was $12.5 million. | |||||||||||||||||
Information pertaining to securities with gross unrealized losses at the dates listed aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows: | |||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||
Gross | Gross | Number | Gross | ||||||||||||||
Unrealized | Fair | Unrealized | Fair | of | Unrealized | Fair | |||||||||||
Losses | Value | Losses | Value | Securities | Losses | Value | |||||||||||
(In thousands) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||
Residential mortgage-backed securities | $ | 619 | $ | 26,027 | $ | 109 | $ | 2,196 | 9 | $ | 728 | $ | 28,223 | ||||
Trust preferred security | 1 | 32 | - | - | 1 | 1 | 32 | ||||||||||
Total | $ | 620 | $ | 26,059 | $ | 109 | $ | 2,196 | 10 | $ | 729 | $ | 28,255 | ||||
30-Jun-13 | |||||||||||||||||
Residential mortgage-backed securities | $ | 513 | $ | 18,870 | $ | - | $ | - | 6 | $ | 513 | $ | 18,870 | ||||
Trust preferred security | 1 | 40 | - | - | 1 | 1 | 40 | ||||||||||
Total | $ | 514 | $ | 18,910 | $ | - | $ | - | 7 | $ | 514 | $ | 18,910 | ||||
At December 31, 2013 and at June 30, 2013, all residential mortgage backed securities and their contractual cash flows were guaranteed by FNMA, FHLMC, or GNMA. The Company’s sole trust preferred security is a variable rate pool of trust preferred securities issued by insurance companies or their holding companies. These positions and the related unrealized losses are not material to the Company’s consolidated financial position or results of operations. The decline in the residential mortgage backed securities has been primarily caused by the movement in market interest rates. The Company has no intent or requirement to sell these securities. | |||||||||||||||||
Credit_Quality_of_Loans_and_Al
Credit Quality of Loans and Allowance for Loan Losses | 6 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Credit Quality of Loans and Allowance For Loan Losses [Abstract] | ' | |||||||||||||||||||||||
CREDIT QUALITY OF LOANS AND ALLOWANCE FOR LOAN LOSSES | ' | |||||||||||||||||||||||
NOTE 4 — CREDIT QUALITY OF LOANS AND ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||
Various Bank policies, consistent with regulatory guidelines, provide for the classification of loans and other assets that are considered to be of lesser quality as substandard, doubtful, or loss assets. A loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans include those loans characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Loans classified as doubtful have all of the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans, or portions of loans, classified as loss are those considered uncollectible and of such little value that their continuance as a loan is not warranted. Since such loans are written off in full, the Bank will not have any such loans classified as loss at the end of a reporting period. Loans that do not expose the Bank to risk sufficient to warrant classification in one of the aforementioned categories, but which possess potential weaknesses that deserve close attention, are required to be designated as Special Mention. | ||||||||||||||||||||||||
The Bank maintains an allowance for loan losses at an amount estimated to equal all credit losses in the loan portfolio that are both probable and reasonably estimable at the consolidated statement of condition date. The Bank’s determination as to the classification of loans is subject to review by the Bank’s primary federal regulator, the Office of the Comptroller of the Currency (“OCC”). The Bank regularly reviews the loan portfolio to determine whether any loans require classification in accordance with applicable regulations. | ||||||||||||||||||||||||
Management evaluates the allowance for loan losses based upon the combined total of the specific, general, and unallocated components as discussed below. Generally, when the loan portfolio increases, absent other factors, the allowance for loan loss methodology results in a higher dollar amount of estimated probable losses than would be the case without the increase. Generally, when the loan portfolio decreases, absent other factors, the allowance for loan loss methodology results in a lower dollar amount of estimated probable losses than would be the case without the decrease. | ||||||||||||||||||||||||
Commercial real estate loans generally have greater credit risk compared to residential mortgage loans, as they typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment expectations on loans secured by income-producing properties typically depend on the successful operation of the related business and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. | ||||||||||||||||||||||||
Commercial business loans generally have greater credit risk compared to residential mortgage loans, as they typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment expectations on commercial business loans typically depend on the successful operation of the related business and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. | ||||||||||||||||||||||||
Construction loans generally have greater credit risk compared to residential mortgage loans, as they typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment expectations on construction loans typically depend on the successful completion of the project and the operation of the related business and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. | ||||||||||||||||||||||||
Generally, the Bank underwrites commercial real estate loans at a loan-to-value ratio of 75% or less and residential mortgage loans at a loan-to-value ratio not exceeding 80%. In the event that a loan becomes past due, management will conduct visual inspections of collateral properties and/or review publicly available information, such as online databases, to estimate property values. The Bank may request a formal third party appraisal for various reasons including, but not limited to, age of previous appraisal, changes in market condition, and changes in borrower’s condition. In addition, changes in the appraised value of properties securing loans can result in an increase or decrease in the general allowance for loan losses as an adjustment to the historical loss experience due to qualitative and environmental factors. | ||||||||||||||||||||||||
The loan portfolio is evaluated on a quarterly basis and the allowance is adjusted accordingly. While the best information available is used to make evaluations, future adjustments to the allowance may be necessary if conditions differ substantially from the information used in making the evaluations. In addition, as an integral part of their examination process, the OCC will periodically review the allowance for loan losses. The OCC may require the Bank to recognize additions to the allowance based on its analysis of information available at the time of the examination. | ||||||||||||||||||||||||
The classes of loans are as follows: | ||||||||||||||||||||||||
December 31, | June 30, | |||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | 38,441 | $ | 42,321 | ||||||||||||||||||||
Commercial real estate | 153,020 | 140,104 | ||||||||||||||||||||||
Construction | 11,787 | 13,044 | ||||||||||||||||||||||
Residential mortgage | 74,972 | 80,529 | ||||||||||||||||||||||
Home equity loans and lines of credit | 25,726 | 27,336 | ||||||||||||||||||||||
Loans | 303,946 | 303,334 | ||||||||||||||||||||||
Net deferred commercial loan fees | -267 | -320 | ||||||||||||||||||||||
Net deferred home equity costs | 239 | 262 | ||||||||||||||||||||||
Loans net of deferred (fees) costs | 303,918 | 303,276 | ||||||||||||||||||||||
Allowance for loan losses | -3,494 | -3,473 | ||||||||||||||||||||||
Total loans, net | $ | 300,424 | $ | 299,803 | ||||||||||||||||||||
The following tables present the classes of the loan portfolio summarized by loan rating within the Bank’s internal risk rating system: | ||||||||||||||||||||||||
December 31, 2013: | Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | 35,796 | $ | 1,197 | $ | 1,448 | $ | - | $ | 38,441 | ||||||||||||||
Commercial real estate | 146,628 | - | 6,392 | - | 153,020 | |||||||||||||||||||
Construction | 11,787 | - | - | - | 11,787 | |||||||||||||||||||
Residential mortgage | 72,847 | - | 2,125 | - | 74,972 | |||||||||||||||||||
Home equity loans and lines of credit | 25,620 | 75 | 31 | - | 25,726 | |||||||||||||||||||
Total | $ | 292,678 | $ | 1,272 | $ | 9,996 | $ | - | $ | 303,946 | ||||||||||||||
June 30, 2013: | Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | 38,149 | $ | 3,302 | $ | 870 | $ | - | $ | 42,321 | ||||||||||||||
Commercial real estate | 133,711 | 1,578 | 4,815 | - | 140,104 | |||||||||||||||||||
Construction | 13,044 | - | - | - | 13,044 | |||||||||||||||||||
Residential mortgage | 78,393 | - | 2,136 | - | 80,529 | |||||||||||||||||||
Home equity loans and lines of credit | 26,833 | 75 | 428 | - | 27,336 | |||||||||||||||||||
Total | $ | 290,130 | $ | 4,955 | $ | 8,249 | $ | - | $ | 303,334 | ||||||||||||||
Loans are generally placed on non-accrual status when payment of principal or interest is over 90 days delinquent or if collection of principal or interest, in full, is in doubt. When loans are placed on a non-accrual status, unpaid accrued interest is fully reversed and further income is recognized only when full repayment of the loan is complete, at which point income is recognized to the extent received, or the loan returns to accrual status. The loan may be returned to accrual status if both principal and interest payments are brought current, there has been a period of sustained performance (generally, six months), and full payment of principal and interest is expected. | ||||||||||||||||||||||||
The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the past due and non-accrual status: | ||||||||||||||||||||||||
December 31, 2013: | Over | Total | Total | |||||||||||||||||||||
31-60 Days | 61-90 Days | 90 Days | Total | Loans | Non-Accrual | |||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Receivable | Loans | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | - | $ | - | $ | - | $ | - | $ | 38,441 | $ | 38,441 | $ | - | ||||||||||
Commercial real estate | - | - | - | - | 153,020 | 153,020 | - | |||||||||||||||||
Construction | - | - | - | - | 11,787 | 11,787 | - | |||||||||||||||||
Residential mortgage | 317 | - | 622 | 939 | 74,033 | 74,972 | 622 | |||||||||||||||||
Home equity loans and lines of credit | 189 | - | - | 189 | 25,537 | 25,726 | 75 | |||||||||||||||||
Total | $ | 506 | $ | - | $ | 622 | $ | 1,128 | $ | 302,818 | $ | 303,946 | $ | 697 | ||||||||||
June 30, 2013: | Over | Total | Total | |||||||||||||||||||||
31-60 Days | 61-90 Days | 90 Days | Total | Loans | Non-Accrual | |||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Receivable | Loans | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | - | $ | - | $ | - | $ | - | $ | 42,321 | $ | 42,321 | $ | - | ||||||||||
Commercial real estate | 82 | - | - | 82 | 140,022 | 140,104 | - | |||||||||||||||||
Construction | - | - | - | - | 13,044 | 13,044 | - | |||||||||||||||||
Residential mortgage | - | - | 622 | 622 | 79,907 | 80,529 | 622 | |||||||||||||||||
Home equity loans and lines of credit | 75 | - | - | 75 | 27,261 | 27,336 | 75 | |||||||||||||||||
Total | $ | 157 | $ | - | $ | 622 | $ | 779 | $ | 302,555 | $ | 303,334 | $ | 697 | ||||||||||
There are no loans over 90 days past due that are still accruing at the dates indicated. | ||||||||||||||||||||||||
The Bank provides for loan losses based upon the consistent application of the documented allowance for loan loss methodology. All loan losses are charged to the allowance for loan losses and all recoveries are credited to the same. Additions to the allowance for loan losses are provided by charges to income based on various factors which, in Management’s judgment, deserve current recognition in estimating probable losses. Management regularly reviews the loan portfolio and makes provisions for loan losses in order to maintain the allowance for loan losses in accordance with U.S. GAAP. The Bank considers residential mortgage loans and home equity loans and lines of credit as small, homogeneous loans, which are evaluated for impairment collectively based on historical loss experience. Commercial real estate and commercial business loans are reviewed individually. Loans are considered impaired if the probability exists that the Bank will be unable to collect contractually obligated principal and interest cash flows. The allowance for loan losses consists primarily of three components: | ||||||||||||||||||||||||
(1)specific allowances established for impaired loans (as defined by U.S. GAAP). For a non-collateral dependent loan, the amount of impairment, if any, is estimated as the difference between the estimated present value based on Management’s assumptions regarding future cash flows and discounted at the loan’s original yield and the carrying value of the loan. Impaired loans for which the estimated present value of the loan exceeds the carrying value of the loan do not reduce specific allowances; | ||||||||||||||||||||||||
(2)general allowances established for loan losses on a portfolio basis for loans that do not meet the definition of impaired loans. The portfolio is grouped into similar risk characteristics, primarily loan type. The Bank applies an estimated loss rate to each loan group. The loss rates applied are based upon loss experience adjusted, as appropriate, for the environmental factors discussed below. This evaluation is inherently subjective, as it requires material estimates that may be susceptible to significant revisions based upon changes in economic and real estate market conditions; and | ||||||||||||||||||||||||
(3)unallocated allowances established to provide for probable losses that have been incurred as of the reporting date but are not reflected in the allocated allowance. | ||||||||||||||||||||||||
Actual loan losses may be significantly more than the allowance for loan losses established, which could have a material negative effect on financial results. | ||||||||||||||||||||||||
The adjustments to historical loss experience are based on Management’s evaluation of several qualitative and environmental factors, including, but not limited to: | ||||||||||||||||||||||||
•changes in any concentration of credit (including, but not limited to, concentrations by geography, industry, or collateral type); | ||||||||||||||||||||||||
•changes in the number and amount of non-accrual loans, watch list loans, and past due loans; | ||||||||||||||||||||||||
•changes in national, state, and local economic trends; | ||||||||||||||||||||||||
•changes to other external influences including, but not limited to, legal, accounting, peer, and regulatory changes; | ||||||||||||||||||||||||
•changes in the types of loans in the loan portfolio; | ||||||||||||||||||||||||
•changes in the experience and ability of personnel and management in the loan origination and loan servicing departments; | ||||||||||||||||||||||||
•changes in the value of underlying collateral for collateral dependent loans; | ||||||||||||||||||||||||
•changes in lending strategies; and | ||||||||||||||||||||||||
•changes in lending policies and procedures. | ||||||||||||||||||||||||
The following table summarizes activity in the allowance for loan losses: | ||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Balance at beginning of period | $ | 3,479 | $ | 3,140 | $ | 3,473 | $ | 3,035 | ||||||||||||||||
Provision for loan losses | 15 | -17 | 20 | 95 | ||||||||||||||||||||
Charge-offs | - | - | - | -8 | ||||||||||||||||||||
Recoveries | - | 2 | 1 | 3 | ||||||||||||||||||||
Balance at end of period | $ | 3,494 | $ | 3,125 | $ | 3,494 | $ | 3,125 | ||||||||||||||||
The following tables set forth the activity in and allocation of the allowance for loan losses by loan portfolio class for the periods as listed: | ||||||||||||||||||||||||
Three Months Ended December 31, 2013 | ||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||
Commercial | Commercial | Residential | loans and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Beginning Balance | $ | 421 | $ | 1,608 | $ | 98 | $ | 820 | $ | 281 | $ | 251 | $ | 3,479 | ||||||||||
Charge-offs | - | - | - | - | - | - | - | |||||||||||||||||
Recoveries | - | - | - | - | - | - | - | |||||||||||||||||
Provisions | -4 | 81 | 18 | -22 | -8 | -50 | 15 | |||||||||||||||||
Ending balance | $ | 417 | $ | 1,689 | $ | 116 | $ | 798 | $ | 273 | $ | 201 | $ | 3,494 | ||||||||||
Six Months Ended December 31, 2013 | ||||||||||||||||||||||||
Home | ||||||||||||||||||||||||
equity loans | ||||||||||||||||||||||||
Commercial | Commercial | Residential | and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Beginning Balance | $ | 429 | $ | 1,573 | $ | 122 | $ | 847 | $ | 270 | $ | 232 | $ | 3,473 | ||||||||||
Charge-offs | - | - | - | - | - | - | - | |||||||||||||||||
Recoveries | - | 1 | - | - | - | - | 1 | |||||||||||||||||
Provisions | -12 | 115 | -6 | -49 | 3 | -31 | 20 | |||||||||||||||||
Ending balance | $ | 417 | $ | 1,689 | $ | 116 | $ | 798 | $ | 273 | $ | 201 | $ | 3,494 | ||||||||||
Three Months Ended December 31, 2012 | ||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||
Commercial | Commercial | Residential | loans and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Beginning Balance | $ | 698 | $ | 1,156 | $ | 6 | $ | 815 | $ | 380 | $ | 85 | $ | 3,140 | ||||||||||
Charge-offs | - | - | - | - | - | - | - | |||||||||||||||||
Recoveries | - | 2 | - | - | - | - | 2 | |||||||||||||||||
Provisions | 84 | -81 | 7 | -97 | -5 | 75 | -17 | |||||||||||||||||
Ending balance | $ | 782 | $ | 1,077 | $ | 13 | $ | 718 | $ | 375 | $ | 160 | $ | 3,125 | ||||||||||
Six Months Ended December 31, 2012 | ||||||||||||||||||||||||
Home | ||||||||||||||||||||||||
equity loans | ||||||||||||||||||||||||
Commercial | Commercial | Residential | and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Beginning Balance | $ | 670 | $ | 955 | $ | 7 | $ | 772 | $ | 390 | $ | 241 | $ | 3,035 | ||||||||||
Charge-offs | - | -8 | - | - | - | - | -8 | |||||||||||||||||
Recoveries | - | 3 | - | - | - | - | 3 | |||||||||||||||||
Provisions | 112 | 127 | 6 | -54 | -15 | -81 | 95 | |||||||||||||||||
Ending balance | $ | 782 | $ | 1,077 | $ | 13 | $ | 718 | $ | 375 | $ | 160 | $ | 3,125 | ||||||||||
The following tables present the balance in the allowance for loan losses and the recorded in investment in loans by portfolio class and based on impairment method: | ||||||||||||||||||||||||
December 31, 2013: | Home | |||||||||||||||||||||||
equity | ||||||||||||||||||||||||
loans | ||||||||||||||||||||||||
Commercial | Commercial | Residential | and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total loans | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Ending allowance balance related to loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | 147 | $ | - | $ | - | $ | 147 | ||||||||||
Collectively evaluated for impairment | 417 | 1,689 | 116 | 651 | 273 | 201 | 3,347 | |||||||||||||||||
Total ending allowance balance | $ | 417 | $ | 1,689 | $ | 116 | $ | 798 | $ | 273 | $ | 201 | $ | 3,494 | ||||||||||
Loans: | ||||||||||||||||||||||||
Ending loan balance | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 117 | $ | 2,536 | $ | - | $ | 1,504 | $ | 31 | $ | 4,188 | ||||||||||||
Collectively evaluated for impairment | 38,324 | 150,484 | 11,787 | 73,468 | 25,695 | 299,758 | ||||||||||||||||||
Total ending loan balance | $ | 38,441 | $ | 153,020 | $ | 11,787 | $ | 74,972 | $ | 25,726 | $ | 303,946 | ||||||||||||
June 30, 2013: | Home | |||||||||||||||||||||||
equity | ||||||||||||||||||||||||
loans | ||||||||||||||||||||||||
Commercial | Commercial | Residential | and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total loans | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Ending allowance balance related to loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | 148 | $ | - | $ | - | $ | 148 | ||||||||||
Collectively evaluated for impairment | 429 | 1,573 | 122 | 699 | 270 | 232 | 3,325 | |||||||||||||||||
Total ending allowance balance | $ | 429 | $ | 1,573 | $ | 122 | $ | 847 | $ | 270 | $ | 232 | $ | 3,473 | ||||||||||
Loans: | ||||||||||||||||||||||||
Ending loan balance | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 121 | $ | 1,329 | $ | - | $ | 1,515 | $ | 428 | $ | 3,393 | ||||||||||||
Collectively evaluated for impairment | 42,200 | 138,775 | 13,044 | 79,014 | 26,908 | 299,941 | ||||||||||||||||||
Total ending loan balance | $ | 42,321 | $ | 140,104 | $ | 13,044 | $ | 80,529 | $ | 27,336 | $ | 303,334 | ||||||||||||
The following tables summarize information in regards to impaired loans by portfolio class as of and for the periods ended: | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
At December 31, 2013 | Three Months Ended | Six Months Ended | ||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | ||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||
Commercial business | $ | 117 | $ | 117 | $ | - | $ | 118 | $ | - | $ | 119 | $ | - | ||||||||||
Commercial real estate | 2,536 | 2,625 | - | 1,926 | 19 | 1,932 | 38 | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 546 | 546 | - | 547 | 6 | 548 | 19 | |||||||||||||||||
Home equity loans and lines of | 31 | 31 | - | 230 | - | 230 | 3 | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total with no allowance recorded | $ | 3,230 | $ | 3,319 | $ | - | $ | 2,821 | $ | 25 | $ | 2,829 | $ | 60 | ||||||||||
With an Allowance Recorded: | ||||||||||||||||||||||||
Commercial business | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Commercial real estate | - | - | - | - | - | - | - | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 958 | 958 | 147 | 960 | 13 | 887 | 20 | |||||||||||||||||
Home equity loans and lines of | - | - | - | - | - | - | - | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total with allowance recorded | $ | 958 | $ | 958 | $ | 147 | $ | 960 | $ | 13 | $ | 887 | $ | 20 | ||||||||||
Total: | ||||||||||||||||||||||||
Commercial business | $ | 117 | $ | 117 | $ | - | $ | 118 | $ | - | $ | 119 | $ | - | ||||||||||
Commercial real estate | 2,536 | 2,625 | - | 1,926 | 19 | 1,932 | 38 | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 1,504 | 1,504 | 147 | 1,507 | 19 | 1,435 | 39 | |||||||||||||||||
Home equity loans and lines of | 31 | 31 | - | 230 | - | 230 | 3 | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total | $ | 4,188 | $ | 4,277 | $ | 147 | $ | 3,781 | $ | 38 | $ | 3,716 | $ | 80 | ||||||||||
31-Dec-12 | ||||||||||||||||||||||||
At December 31, 2012 | Three Months Ended | Six Months Ended | ||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | ||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||
Commercial business | $ | 7 | $ | 7 | $ | - | $ | 8 | $ | - | $ | 8 | $ | - | ||||||||||
Commercial real estate | 6,240 | 6,329 | - | 6,245 | 19 | 6,341 | 38 | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 75 | 75 | - | 266 | - | 266 | 10 | |||||||||||||||||
Home equity loans and lines of | 32 | 32 | - | 33 | 1 | 33 | 1 | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total with no allowance recorded | $ | 6,354 | $ | 6,443 | $ | - | $ | 6,552 | $ | 20 | $ | 6,648 | $ | 49 | ||||||||||
With an Allowance Recorded: | ||||||||||||||||||||||||
Commercial business | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Commercial real estate | - | - | - | - | - | - | - | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 970 | 970 | 149 | 971 | 14 | 972 | 20 | |||||||||||||||||
Home equity loans and lines of | - | - | - | - | - | - | - | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total with allowance recorded | $ | 970 | $ | 970 | $ | 149 | $ | 971 | $ | 14 | $ | 972 | $ | 20 | ||||||||||
Total: | ||||||||||||||||||||||||
Commercial business | $ | 7 | $ | 7 | $ | - | $ | 8 | $ | - | $ | 8 | $ | - | ||||||||||
Commercial real estate | 6,240 | 6,329 | - | 6,245 | 19 | 6,341 | 38 | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 1,045 | 1,045 | 149 | 1,237 | 14 | 1,238 | 30 | |||||||||||||||||
Home equity loans and lines of | 32 | 32 | - | 33 | 1 | 33 | 1 | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total | $ | 7,324 | $ | 7,413 | $ | 149 | $ | 7,523 | $ | 34 | $ | 7,620 | $ | 69 | ||||||||||
30-Jun-13 | ||||||||||||||||||||||||
At June 30, 2013 | For the year ended | |||||||||||||||||||||||
Unpaid | Average | Interest | ||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||
Commercial business loans | $ | 121 | $ | 121 | $ | - | $ | 65 | $ | - | ||||||||||||||
Commercial real estate | 1,329 | 1,418 | - | 3,886 | - | |||||||||||||||||||
Commercial construction | - | - | - | - | - | |||||||||||||||||||
Residential mortgages | 551 | 551 | - | 542 | 33 | |||||||||||||||||||
Home equity loans and lines | 428 | 428 | - | 230 | - | |||||||||||||||||||
of credit | ||||||||||||||||||||||||
Total with no allowance recorded | $ | 2,429 | $ | 2,518 | $ | - | $ | 4,723 | $ | 33 | ||||||||||||||
With an Allowance Recorded: | ||||||||||||||||||||||||
Commercial business loans | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||
Commercial real estate | - | - | - | - | 72 | |||||||||||||||||||
Commercial construction | - | - | - | - | - | |||||||||||||||||||
Residential mortgages | 964 | 964 | 148 | 895 | 13 | |||||||||||||||||||
Home equity loans and lines of credit | - | - | - | - | 2 | |||||||||||||||||||
Total with allowance recorded | $ | 964 | $ | 964 | $ | 148 | $ | 895 | $ | 87 | ||||||||||||||
Total: | ||||||||||||||||||||||||
Commercial business loans | $ | 121 | $ | 121 | $ | - | $ | 65 | $ | - | ||||||||||||||
Commercial real estate | 1,329 | 1,418 | - | 3,886 | 72 | |||||||||||||||||||
Commercial construction | - | - | - | - | - | |||||||||||||||||||
Residential mortgages | 1,515 | 1,515 | 148 | 1,437 | 46 | |||||||||||||||||||
Home equity loans and lines of credit | 428 | 428 | - | 230 | 2 | |||||||||||||||||||
Total | $ | 3,393 | $ | 3,482 | $ | 148 | $ | 5,618 | $ | 120 | ||||||||||||||
The following table presents troubled debt restructurings occurring during the three and six month periods listed below: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Three months ended December 31: | ||||||||||||||||||||||||
Commercial business | - | $ | - | $ | - | - | $ | - | $ | - | ||||||||||||||
Commercial real estate | 1 | 1,188 | 1,202 | - | - | - | ||||||||||||||||||
Residential mortgage | - | - | - | - | - | - | ||||||||||||||||||
Total Troubled Debt | 1 | $ | 1,188 | $ | 1,202 | - | $ | - | $ | - | ||||||||||||||
Restructurings | ||||||||||||||||||||||||
Six months ended December 31: | ||||||||||||||||||||||||
Commercial business | - | $ | - | $ | - | - | $ | - | $ | - | ||||||||||||||
Commercial real estate | 1 | 1,188 | 1,202 | - | - | - | ||||||||||||||||||
Residential mortgage | - | - | - | - | - | - | ||||||||||||||||||
Total Troubled Debt | 1 | $ | 1,188 | $ | 1,202 | - | $ | - | $ | - | ||||||||||||||
Restructurings | ||||||||||||||||||||||||
Generally, the Bank does not forgive principal or interest on loans or modify the interest rate on loans to rates that are below market rates based on the risks associated with the modified loans. Although, loans can be modified to make concessions to help a borrower remain current on the loan and to avoid foreclosure. These troubled debt restructurings include deferrals of interest and/or principal payments and temporary or permanent reductions in interest rates due to financial difficulties of the borrower. During the three and six months ended December 31, 2013 and 2012, no loans previously classified as troubled debt restructurings subsequently defaulted. | ||||||||||||||||||||||||
Fair_Value_Measurements_and_Di
Fair Value Measurements and Disclosures | 6 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Fair Value Measurements and Disclosures [Abstract] | ' | |||||||||||||||||
FAIR VALUE MEASUREMENTS AND DISCLOSURES | ' | |||||||||||||||||
NOTE 5 — FAIR VALUE MEASUREMENTS AND DISCLOSURES | ||||||||||||||||||
Management uses its best judgment in estimating the fair value of the Company’s assets and liabilities; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all assets and liabilities, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sale transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective reporting dates and have not been re-evaluated or updated subsequent to those respective dates. As such, the estimated fair values of these assets and liabilities subsequent to the respective reporting dates may be different than the amounts reported at each reporting date. Accounting guidance related to fair value measurements and disclosures establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows: | ||||||||||||||||||
Level 1: | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | |||||||||||||||||
Level 2: | Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. | |||||||||||||||||
Level 3: | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). | |||||||||||||||||
An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Transfers between fair value hierarchy levels are recognized as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers between fair value hierarchy levels for the three and six months ended December 31, 2013 or 2012. | ||||||||||||||||||
For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at the dates listed are as follows: | ||||||||||||||||||
(In thousands) | (Level 1) | |||||||||||||||||
Quoted Prices | (Level 2) | |||||||||||||||||
in Active | Significant | (Level 3) | ||||||||||||||||
Markets for | Other | Significant | ||||||||||||||||
December 31, | Identical | Observable | Unobservable | |||||||||||||||
Description | 2013 | Assets | Inputs | Inputs | ||||||||||||||
Residential mortgage-backed securities (1) | $ | 43,736 | $ | - | $ | 43,736 | $ | - | ||||||||||
Trust preferred security | 32 | - | - | 32 | ||||||||||||||
Equity securities | 50 | - | 50 | - | ||||||||||||||
Securities available for sale | $ | 43,818 | $ | - | $ | 43,786 | $ | 32 | ||||||||||
(Level 1) | ||||||||||||||||||
Quoted Prices | (Level 2) | |||||||||||||||||
in Active | Significant | (Level 3) | ||||||||||||||||
Markets for | Other | Significant | ||||||||||||||||
June 30, | Identical | Observable | Unobservable | |||||||||||||||
Description | 2013 | Assets | Inputs | Inputs | ||||||||||||||
Residential mortgage-backed securities (1) | $ | 37,084 | $ | - | $ | 37,084 | $ | - | ||||||||||
Trust preferred security | 40 | - | - | 40 | ||||||||||||||
Equity securities | 50 | - | 50 | - | ||||||||||||||
Securities available for sale | $ | 37,174 | $ | - | $ | 37,134 | $ | 40 | ||||||||||
The following table presents a reconciliation of the securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended December 31, 2013 and 2012: | ||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||
December 31, | December 31, | |||||||||||||||||
(In thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Beginning balance | $ | 37 | $ | 54 | $ | 40 | $ | 54 | ||||||||||
Principal repayments | -5 | -18 | -8 | -22 | ||||||||||||||
Unrealized gains included in other comprehensive income | - | 12 | - | 16 | ||||||||||||||
Ending balance | $ | 32 | $ | 48 | $ | 32 | $ | 48 | ||||||||||
Level 3 securities consist of one trust preferred security at December 31, 2013 and 2012 and June 30, 2013. | ||||||||||||||||||
For assets measured at fair value on a nonrecurring basis at the dates listed, the fair value measurements by level within the fair value hierarchy are as follows: | ||||||||||||||||||
(In thousands) | (Level 1) | |||||||||||||||||
Quoted Prices | (Level 2) | |||||||||||||||||
in Active | Significant | (Level 3) | ||||||||||||||||
Markets for | Other | Significant | ||||||||||||||||
December 31, | Identical | Observable | Unobservable | |||||||||||||||
Description | 2013 | Assets | Inputs | Inputs | ||||||||||||||
Impaired loans | $ | 811 | $ | - | $ | - | $ | 811 | ||||||||||
(Level 1) | ||||||||||||||||||
Quoted Prices | (Level 2) | |||||||||||||||||
in Active | Significant | (Level 3) | ||||||||||||||||
Markets for | Other | Significant | ||||||||||||||||
June 30, | Identical | Observable | Unobservable | |||||||||||||||
Description | 2013 | Assets | Inputs | Inputs | ||||||||||||||
Impaired loans | $ | 816 | $ | - | $ | - | $ | 816 | ||||||||||
The methods and assumptions used to estimate the fair values included in the above tables are included in the disclosures and tables that follow. | ||||||||||||||||||
The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate fair values at December 31, 2013 and June 30, 2013: | ||||||||||||||||||
Cash and Cash Equivalents and Interest Bearing Deposits with Other Banks (Carried at Cost) | ||||||||||||||||||
The carrying amounts of cash and short-term instruments approximate fair value and are classified within level 1 of the fair value hierarchy. | ||||||||||||||||||
Securities Available for Sale (Carried at Fair Value) | ||||||||||||||||||
The fair values of securities available for sale, excluding trust preferred securities, are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. Level 2 debt securities are valued by a third-party pricing service commonly used in the banking industry. Level 2 fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution date, market consensus prepayment speeds, credit information, and the security’s terms and conditions, among other pieces of information. | ||||||||||||||||||
The market for pooled trust preferred securities is inactive. A significant widening of the bid/ask spreads in the markets in which these securities trade was followed by a significant decrease in the volume of trades relative to historical levels. The new issue market is also inactive and no new pooled trust preferred securities have been issued since 2007. Since there were limited observable market-based Level 1 and Level 2 inputs for trust preferred securities, the fair value of these securities was estimated using primarily unobservable Level 3 inputs. Fair value estimates for trust preferred securities were based on discounting expected cash flows using a risk-adjusted discount rate. The Company develops the risk-adjusted discount rate by considering the time value of money (risk-free rate) adjusted for an estimated risk premium for bearing the uncertainty in future cash flows and, given current adverse market conditions, a liquidity adjustment based on an estimate of the premium that a market participant would require assuming an orderly transaction. Management determined that sensitivity to inputs are not significant due to the immaterial nature of trust preferred securities as a level 3 asset. | ||||||||||||||||||
Securities Held to Maturity (Carried at Amortized Cost) | ||||||||||||||||||
The fair values of securities held to maturity are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. Level 2 debt securities are valued by a third-party pricing service commonly used in the banking industry. Level 2 fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution date, market consensus prepayment speeds, credit information, and the security’s terms and conditions, among other pieces of information. | ||||||||||||||||||
Federal Home Loan Bank Stock (Carried at Cost) | ||||||||||||||||||
The carrying amount of Federal Home Loan Bank stock approximates fair value and considers the limited marketability of such securities. | ||||||||||||||||||
Loans Receivable (Generally Carried at Cost) | ||||||||||||||||||
The fair values of loans (except impaired loans) are estimated using discounted cash flow analyses which use market rates at the statement of condition date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments, and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying amounts. Loans are classified within Level 3 of the fair value hierarchy. | ||||||||||||||||||
Loans Held for Sale (Carried at Cost) | ||||||||||||||||||
The carrying amount of Loans Held for Sale approximates fair value and considers secondary market offerings for loans with similar characteristics. Loans Held for Sale are classified within Level 3 of the fair value hierarchy. | ||||||||||||||||||
Impaired Loans (Generally Carried at Fair Value) | ||||||||||||||||||
Generally, impaired loans are those which the Company has measured impairment based on the fair value of the loan’s collateral. Fair value of real estate collateral is generally determined based upon independent third-party appraisals of the properties, which consider sales prices of similar properties in the proximate vicinity or by discounting expected cash flows from the properties by an appropriate risk adjusted discount rate. Fair value of collateral other than real estate is based on an estimate of the liquidation proceeds. Impaired loans are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value consists of loan balances net of valuation allowances and loan balances on impaired loans in which the loan has been charged-off to its fair value. | ||||||||||||||||||
Mortgage Servicing Rights (Carried at Lower of Cost or Fair Value) | ||||||||||||||||||
At origination, the Company estimates the fair value of mortgage servicing rights at 1% of the principal balances of loans sold. The Company amortizes that amount over the estimated period of servicing revenues or charges the entire amount to income upon prepayment of the related loan. Due to the immaterial balance of mortgage servicing rights, the Company did not perform any further analysis or estimate their fair values. Therefore, the Company has disclosed that the carrying amounts of mortgage servicing rights approximate fair value. Mortgage servicing rights are classified within Level 3 of the fair value hierarchy. Management determined that sensitivity to inputs are not significant due to the immaterial nature of the mortgage servicing rights as a Level 3 asset. | ||||||||||||||||||
Deposit Liabilities (Carried at Cost) | ||||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities. Demand deposits and certificates of deposit are classified within Level 2 of the fair value hierarchy. | ||||||||||||||||||
Federal Home Loan Bank Advances (Carried at Cost) | ||||||||||||||||||
Fair values of FHLB advances are estimated using discounted cash flow analysis, based on quoted prices for new FHLB advances with similar credit risk characteristics, terms, and remaining maturity. These prices obtained from this active market represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party. Federal Home Loan Bank Advances are classified within Level 2 of the fair value hierarchy. | ||||||||||||||||||
Securities Sold Under Agreement to Repurchase (Carried at Cost) | ||||||||||||||||||
The carrying amounts of securities sold under agreements to repurchase approximate fair value for short-term obligations. The fair values for longer term repurchase agreements are based on current market interest rates for similar transactions. Securities sold under agreement to repurchase are classified within Level 2 of the fair value hierarchy. | ||||||||||||||||||
Accrued Interest Receivable and Payable (Carried at Cost) | ||||||||||||||||||
The carrying amounts of accrued interest approximate fair value. Accrued Interest Receivable and Payable are classified within Level 2 of the fair value hierarchy. | ||||||||||||||||||
Off-Balance-Sheet Credit-Related Instruments (Disclosures at Cost) | ||||||||||||||||||
Fair values for off-balance-sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of these instruments is not material. | ||||||||||||||||||
Quantitative information about Level 3 Fair Value Measurement is included in the tables below: | ||||||||||||||||||
(In thousands) | Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Estimated | ||||||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||||||
31-Dec-13 | Estimate | Techniques | Inputs | (weighted average) | ||||||||||||||
Impaired loans | $ | 811 | Appraisal of | Appraisal | 0.0% to -25.0% | |||||||||||||
collateral | adjustments | (-6.5%) | ||||||||||||||||
Liquidation | -3.0% to -5.0% | |||||||||||||||||
expenses | (-3.3%) | |||||||||||||||||
(In thousands) | Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Estimated | ||||||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||||||
30-Jun-13 | Estimate | Techniques | Inputs | (weighted average) | ||||||||||||||
Impaired loans | $ | 816 | Appraisal of | Appraisal | 0.0% to -25.0% | |||||||||||||
collateral | adjustments | (-6.5%) | ||||||||||||||||
Liquidation | -3.0% to -5.0% | |||||||||||||||||
expenses | (-3.3%) | |||||||||||||||||
The estimated fair values of the Company’s financial instruments were as follows: | ||||||||||||||||||
Fair Value Hierarchy at | ||||||||||||||||||
31-Dec-13 | ||||||||||||||||||
Quoted Prices in | ||||||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||||||
31-Dec-13 | For Identical | Observable | Unobservable | |||||||||||||||
Carrying | Fair | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | $ | 15,858 | $ | 15,858 | $ | 15,858 | $ | - | $ | - | ||||||||
Interest bearing deposits with other banks | 4,456 | 4,456 | 4,456 | - | - | |||||||||||||
Securities available for sale | 43,818 | 43,818 | - | 43,786 | 32 | |||||||||||||
Securities held to maturity | 1,211 | 1,286 | - | 1,286 | - | |||||||||||||
Federal Home Loan Bank stock | 1,160 | 1,160 | - | 1,160 | - | |||||||||||||
Loans held for sale | - | - | - | - | - | |||||||||||||
Loans receivable, net | 300,424 | 306,252 | - | - | 306,252 | |||||||||||||
Accrued interest receivable | 1,069 | 1,069 | - | 1,069 | - | |||||||||||||
Mortgage servicing rights | 25 | 25 | - | - | 25 | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | 289,178 | 289,168 | - | 289,168 | - | |||||||||||||
Securities sold under agreements to repurchase | 6,672 | 6,671 | - | 6,671 | - | |||||||||||||
Federal Home Loan Bank Advances | 15,560 | 16,948 | - | 16,948 | - | |||||||||||||
Accrued interest payable | 117 | 117 | - | 117 | - | |||||||||||||
Off-Balance sheet financial instruments | - | - | - | - | - | |||||||||||||
Fair Value Hierarchy at | ||||||||||||||||||
30-Jun-13 | ||||||||||||||||||
Quoted Prices in | ||||||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||||||
30-Jun-13 | For Identical | Observable | Unobservable | |||||||||||||||
Carrying | Fair | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | $ | 16,173 | $ | 16,173 | $ | 16,173 | $ | - | $ | - | ||||||||
Interest bearing deposits with other banks | 6,692 | 6,692 | 6,692 | - | - | |||||||||||||
Securities available for sale | 37,174 | 37,174 | - | 37,134 | 40 | |||||||||||||
Securities held to maturity | 1,445 | 1,520 | - | 1,520 | - | |||||||||||||
Federal Home Loan Bank stock | 1,160 | 1,160 | - | 1,160 | - | |||||||||||||
Loans held for sale | 414 | 414 | - | - | 414 | |||||||||||||
Loans receivable, net | 299,803 | 303,770 | - | - | 303,770 | |||||||||||||
Accrued interest receivable | 1,111 | 1,111 | - | 1,111 | - | |||||||||||||
Mortgage servicing rights | 28 | 28 | - | - | 28 | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | 283,263 | 283,215 | - | 283,215 | - | |||||||||||||
Securities sold under agreements to repurchase | 8,544 | 8,543 | - | 8,543 | - | |||||||||||||
Federal Home Loan Bank Advances | 15,623 | 17,223 | - | 17,223 | - | |||||||||||||
Accrued interest payable | 111 | 111 | - | 111 | - | |||||||||||||
Off-Balance sheet financial instruments | - | - | - | - | - | |||||||||||||
Guarantees
Guarantees | 6 Months Ended |
Dec. 31, 2013 | |
Guarantees [Abstract] | ' |
GUARANTEES | ' |
NOTE 6 — GUARANTEES | |
The Company has not issued any guarantees that would require liability recognition or disclosure other than its letters of credit. Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Generally, letters of credit, when issued, have expiration dates within one year. The credit risks involved in issuing letters of credit are essentially the same as those that are involved in extending loan facilities to customers. The Company generally holds collateral and/or personal guarantees supporting these commitments. As of December 31, 2013, the Company had $1.2 million of outstanding letters of credit. Management believes the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding guarantees. Management believes the current amount of the liability as of December 31, 2013 for guarantees under letters of credit issued is not material. | |
Employee_Stock_Ownership_Plan
Employee Stock Ownership Plan | 6 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Employee Stock Ownership Plan [Abstract] | ' | |||||||
EMPLOYEE STOCK OWNERSHIP PLAN | ' | |||||||
NOTE 7 — EMPLOYEE STOCK OWNERSHIP PLAN | ||||||||
Effective January 1, 2010, the Company adopted an Employee Stock Ownership Plan (“ESOP”) for eligible employees. The ESOP borrowed $3.7 million from the Company and used those funds to acquire 370,300 shares, or 8.0%, of the total number of shares issued by the Company in its initial public offering. The shares were acquired at a price of $10.00 per share. | ||||||||
The loan is secured by the shares purchased with the loan proceeds and will be repaid by the ESOP over the 20 year term of the loan with funds from the Bank’s contributions to the ESOP and dividends payable on the stock, if any. The interest rate on the ESOP loan adjusts annually and is the prime rate on the first business day of the calendar year, as published in The Wall Street Journal. | ||||||||
Shares purchased by the ESOP are held by a trustee in an unallocated suspense account and shares are released annually from the suspense account on a pro-rata basis as principal and interest payments are made by the ESOP to the Company. The trustee allocates the shares released among participants on the basis of each participant’s proportional share of compensation relative to all participants. Total ESOP shares may be reduced as a result of employees leaving the Company as shares that have previously been released to those exiting employees may be removed from the plan and transferred to that employee. As shares are committed to be released from the suspense account, the Bank reports compensation expense based on the average fair value of shares committed to be released with a corresponding credit to stockholders’ equity. Compensation expense relating to the ESOP recognized for the six months ended December 31, 2013 and 2012 amounted to $173 thousand and $146 thousand, respectively. Compensation expense recognized for the three months ended December 31, 2013 and 2012 amounted to $88 thousand and $77 thousand, respectively. | ||||||||
Shares held by the ESOP trust at the dates listed were as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Allocated shares | 71,586 | 53,945 | ||||||
Unallocated shares | 296,240 | 314,755 | ||||||
Total ESOP shares | 367,826 | 368,700 | ||||||
Fair value of unallocated shares, in thousands | $ | 5,392 | $ | 5,537 | ||||
Share_Based_Compensation
Share Based Compensation | 6 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Share Based Compensation [Abstract] | ' | |||||||||||||||||
SHARE BASED COMPENSATION | ' | |||||||||||||||||
NOTE 8 — SHARE BASED COMPENSATION | ||||||||||||||||||
In May 2011, the Company’s stockholders approved the OBA Financial Services, Inc. 2011 Equity Incentive Plan (“Plan”) which provides for awards of stock options and restricted stock to key officers and outside directors. Compensation expense is based on the fair value of the awards on the grant date. The fair value of restricted stock awards is based on the closing price of the Company’s stock on the grant date. The fair value of stock options is estimated using a Black-Scholes option pricing model using assumptions for dividend yield, stock price volatility, risk-free interest rate, and option term. These assumptions are based on management’s judgments regarding future events, are subjective in nature, and contain uncertainties inherent in an estimate. The cost of the awards are being recognized on a straight-line basis over the five-year vesting period during which participants are required to provide services in exchange for the awards. A portion of the restricted stock award vesting is contingent upon meeting certain Company-wide performance goals. | ||||||||||||||||||
Until such time as awards of stock are granted and vest or options are exercised, shares of the Company’s common stock under the Plan shall be authorized but unissued shares. The maximum number of shares authorized under the plan is 648,025. Total share-based compensation expense for the six months ended December 31, 2013 and 2012 was $478 thousand and $469 thousand, respectively. Total share-based compensation expense for the three months ended December 31, 2013 and 2012 was $239 thousand and $234 thousand, respectively. | ||||||||||||||||||
Stock Options | ||||||||||||||||||
The table below presents the stock option activity for the period shown: | ||||||||||||||||||
Weighted | ||||||||||||||||||
average | Remaining | |||||||||||||||||
exercise | contractual | |||||||||||||||||
Options | price | life (years) | ||||||||||||||||
Options outstanding at June 30, 2013 | 281,150 | $ | 14.92 | |||||||||||||||
Granted | - | - | ||||||||||||||||
Exercised | - | - | ||||||||||||||||
Forfeited | - | - | ||||||||||||||||
Expired | - | - | ||||||||||||||||
Options outstanding at December 31, 2013 | 281,150 | $ | 14.92 | 7.6 | ||||||||||||||
- | ||||||||||||||||||
Weighted | ||||||||||||||||||
average | Remaining | |||||||||||||||||
exercise | contractual | |||||||||||||||||
Options | price | life (years) | ||||||||||||||||
Options outstanding at June 30, 2012 | 272,150 | $ | 14.79 | |||||||||||||||
Granted | - | - | ||||||||||||||||
Exercised | - | - | ||||||||||||||||
Forfeited | - | - | ||||||||||||||||
Expired | - | - | ||||||||||||||||
Options outstanding at December 31, 2012 | 272,150 | $ | 14.79 | 8.6 | ||||||||||||||
As of December 31, 2013, the Company had $528 thousand of unrecognized compensation costs related to stock options. The cost of stock options will be amortized in equal annual installments over the five-year vesting period, of which three years remain. There were 56,230 options vested during the six months ended December 31, 2013. Stock option expense for the six months ended December 31, 2013 and 2012 was $103 thousand and $99 thousand, respectively. Stock option expense for the three months ended December 31, 2013 and 2012 was $52 thousand and $49 thousand, respectively. | ||||||||||||||||||
Restricted Stock Awards | ||||||||||||||||||
Restricted stock awards are accounted for as fixed grants using the fair value of the Company’s stock at the time of grant. Unvested restricted stock awards may not be disposed of or transferred during the vesting period. Restricted stock awards carry with them the right to receive dividends. | ||||||||||||||||||
The table below presents the restricted stock award activity for the period shown: | ||||||||||||||||||
Service-Based | Weighted | Performance-Based | Weighted | Total | Weighted | |||||||||||||
Restricted | average | Restricted | average | Restricted | average | |||||||||||||
stock | grant date | stock | grant date | stock | grant date | |||||||||||||
awards | fair value | awards | fair value | awards | fair value | |||||||||||||
Non-vested at June 30, 2013 | 111,596 | $ | 14.86 | 88,872 | $ | 14.81 | 200,468 | $ | 14.84 | |||||||||
Granted | - | - | - | - | ||||||||||||||
Vested | 27,767 | $ | 14.84 | 22,218 | $ | 14.81 | 49,985 | $ | 14.83 | |||||||||
Forfeited | - | - | - | - | - | - | ||||||||||||
Non-vested at December 31, 2013 | 83,829 | $ | 14.87 | 66,654 | $ | 14.81 | 150,483 | $ | 14.84 | |||||||||
Service-Based | Weighted | Performance-Based | Weighted | Total | Weighted | |||||||||||||
Restricted | average | Restricted | average | Restricted | average | |||||||||||||
stock | grant date | stock | grant date | stock | grant date | |||||||||||||
awards | fair value | awards | fair value | awards | fair value | |||||||||||||
Non-vested at June 30, 2012 | 136,363 | $ | 14.77 | 111,090 | $ | 14.81 | 247,453 | $ | 14.79 | |||||||||
Granted | - | - | - | - | ||||||||||||||
Vested | 27,267 | $ | 14.77 | 22,218 | $ | 14.81 | 49,485 | $ | 14.79 | |||||||||
Forfeited | - | - | - | - | - | - | ||||||||||||
Non-vested at December 31, 2012 | 109,096 | $ | 14.77 | 88,872 | $ | 14.81 | 197,968 | $ | 14.79 | |||||||||
As of December 31, 2013, the Company had $1.9 million of unrecognized compensation cost related to restricted stock awards. The cost of the restricted stock awards will be amortized in equal annual installments over the five-year vesting period, of which three remain. The vesting of the performance-based stock awards is contingent upon meeting certain Company-wide performance goals. If such goals are not met, no compensation cost is recognized and any recognized compensation cost is reversed. Restricted stock expense for the six months ended December 31, 2013 and 2012 was $375 thousand and $370 thousand, respectively. Restricted stock expense for the three months ended December 31, 2013 and 2012 was $187 thousand and $185 thousand, respectively. | ||||||||||||||||||
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
EARNINGS PER SHARE | ' | |||||||||||||
NOTE 9 — EARNINGS PER SHARE | ||||||||||||||
Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period exclusive of unallocated ESOP shares and unvested restricted stock. Stock options and unvested restricted stock are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent they would have a dilutive effect if converted to common stock, computed using the Treasury Stock method. The table below sets forth the dilutive effect of the stock options and unvested restricted shares. | ||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||
December 31, | December 31, | |||||||||||||
(Dollars in thousands, except share data) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Net income | $ | 311 | $ | 397 | $ | 625 | $ | 657 | ||||||
Weighted average number of shares used in: | ||||||||||||||
Basic earnings per share | 3,737,188 | 3,799,778 | 3,736,005 | 3,812,501 | ||||||||||
Diluted common stock equivalents | 40,755 | 71,761 | 39,264 | 50,024 | ||||||||||
Diluted earnings per share | 3,777,943 | 3,871,539 | 3,775,269 | 3,862,525 | ||||||||||
Net income per common share, basic | $ | 0.08 | $ | 0.10 | $ | 0.17 | $ | 0.17 | ||||||
Net income per common share, diluted | $ | 0.08 | $ | 0.10 | $ | 0.17 | $ | 0.17 | ||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 6 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of Presentation | |
The consolidated financial statements include the accounts of OBA Financial Services Inc. and OBA Bank. All significant intercompany accounts and transactions have been eliminated in consolidation. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and are presented in accordance with instructions for Form 10-Q and Rule 10-01 of the SEC Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation are of a normal and recurring nature and have been included. | |
Operating results for the three and six months ended December 31, 2013 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2014 or any other interim period. The consolidated financial statements presented in this report should be read in conjunction with the audited consolidated financial statements and the accompanying notes filed on Form 10-K for the fiscal year ended June 30, 2013. | |
In preparing the accompanying consolidated financial statements, the Company has evaluated subsequent events through the financial statement issue date. There were no subsequent events identified by the Company as a result of the evaluation that require recognition or disclosure in the consolidated financial statements. | |
Use of Estimates [Policy Text Block] | ' |
Use of Estimates | |
In preparing the consolidated financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Statement of Condition and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly sensitive to change in the near term relates to the determination of the allowance for loan losses, values related to the share-based incentive plans, and other than temporary impairment of investment securities. | |
Recent Accounting Pronouncements [Policy Text Block] | ' |
Recent Accounting Pronouncements | |
There are no recent accounting pronouncements that have had or are expected to have a material impact to the Company’s consolidated financial statements that have not been previously disclosed. | |
Reclassifications [Policy Text Block] | ' |
Reclassifications | |
From time to time, certain amounts in the prior period consolidated financial statements are reclassified to conform with current period presentation. Such reclassifications, if any, have no material impact on consolidated net income or total stockholders’ equity. | |
Comprehensive_Income_Loss_Tabl
Comprehensive Income (Loss) (Tables) | 6 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Summary of Significant Accounting Policies [Abstract] | ' | |||||||
Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||
Accumulated other comprehensive income (loss) consists of the following: | ||||||||
December 31, | June 30, | |||||||
2013 | 2013 | |||||||
(In thousands) | ||||||||
Unrealized gains (losses) on available for sale securities | $ | -128 | $ | 102 | ||||
Tax effect | -50 | 40 | ||||||
Total | $ | -78 | $ | 62 | ||||
Securities_Tables
Securities (Tables) | 6 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Securities [Abstract] | ' | ||||||||||||||||
Schedule of Available-for-sale And Held-to-maturity Securities Reconciliation [Table Text Block] | ' | ||||||||||||||||
Gross | Gross | ||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||
(In thousands) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||
Securities available for sale: | |||||||||||||||||
Debt Securities: | |||||||||||||||||
Residential mortgage-backed securities (1) | $ | 43,863 | $ | 601 | $ | -728 | $ | 43,736 | |||||||||
Trust preferred security | 33 | - | -1 | 32 | |||||||||||||
Total debt securities available for sale | 43,896 | 601 | -729 | 43,768 | |||||||||||||
Equity securities | 50 | - | - | 50 | |||||||||||||
Total securities available for sale | 43,946 | 601 | -729 | 43,818 | |||||||||||||
Securities held to maturity: | |||||||||||||||||
Debt Securities: | |||||||||||||||||
Residential mortgage-backed securities (1) | 1,211 | 75 | - | 1,286 | |||||||||||||
Total debt securities held to maturity | 1,211 | 75 | - | 1,286 | |||||||||||||
Total investment securities | $ | 45,157 | $ | 676 | $ | -729 | $ | 45,104 | |||||||||
30-Jun-13 | |||||||||||||||||
Securities available for sale: | |||||||||||||||||
Debt Securities: | |||||||||||||||||
Residential mortgage-backed securities (1) | $ | 36,981 | $ | 616 | $ | -513 | $ | 37,084 | |||||||||
Trust preferred security | 41 | - | -1 | 40 | |||||||||||||
Total debt securities available for sale | 37,022 | 616 | -514 | 37,124 | |||||||||||||
Equity securities | 50 | - | - | 50 | |||||||||||||
Total securities available for sale | 37,072 | 616 | -514 | 37,174 | |||||||||||||
Securities held to maturity: | |||||||||||||||||
Debt Securities: | |||||||||||||||||
Residential mortgage-backed securities (1) | 1,445 | 75 | - | 1,520 | |||||||||||||
Total debt securities held to maturity | 1,445 | 75 | - | 1,520 | |||||||||||||
Total investment securities | $ | 38,517 | $ | 691 | $ | -514 | $ | 38,694 | |||||||||
(1)All residential mortgage-backed securities were issued by FNMA, FHLMC, or GNMA. | |||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||
The amortized cost and fair value of debt securities by contractual maturity at December 31, 2013 are as follows: | |||||||||||||||||
Available for sale | Held to Maturity | ||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||
Cost | Value | Cost | Value | ||||||||||||||
(In thousands) | |||||||||||||||||
Due after ten years | $ | 33 | $ | 32 | $ | - | $ | - | |||||||||
Residential mortgage-backed securities | 43,863 | 43,736 | 1,211 | 1,286 | |||||||||||||
Total | $ | 43,896 | $ | 43,768 | $ | 1,211 | $ | 1,286 | |||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||
Gross | Gross | Number | Gross | ||||||||||||||
Unrealized | Fair | Unrealized | Fair | of | Unrealized | Fair | |||||||||||
Losses | Value | Losses | Value | Securities | Losses | Value | |||||||||||
(In thousands) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||
Residential mortgage-backed securities | $ | 619 | $ | 26,027 | $ | 109 | $ | 2,196 | 9 | $ | 728 | $ | 28,223 | ||||
Trust preferred security | 1 | 32 | - | - | 1 | 1 | 32 | ||||||||||
Total | $ | 620 | $ | 26,059 | $ | 109 | $ | 2,196 | 10 | $ | 729 | $ | 28,255 | ||||
30-Jun-13 | |||||||||||||||||
Residential mortgage-backed securities | $ | 513 | $ | 18,870 | $ | - | $ | - | 6 | $ | 513 | $ | 18,870 | ||||
Trust preferred security | 1 | 40 | - | - | 1 | 1 | 40 | ||||||||||
Total | $ | 514 | $ | 18,910 | $ | - | $ | - | 7 | $ | 514 | $ | 18,910 | ||||
Credit_Quality_of_Loans_and_Pr
Credit Quality of Loans and Provision and Allowance for Loan Losses (Tables) | 6 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Credit Quality of Loans and Allowance For Loan Losses [Abstract] | ' | |||||||||||||||||||||||
Loans Receivable, Net Components [Table Text Block] | ' | |||||||||||||||||||||||
December 31, | June 30, | |||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | 38,441 | $ | 42,321 | ||||||||||||||||||||
Commercial real estate | 153,020 | 140,104 | ||||||||||||||||||||||
Construction | 11,787 | 13,044 | ||||||||||||||||||||||
Residential mortgage | 74,972 | 80,529 | ||||||||||||||||||||||
Home equity loans and lines of credit | 25,726 | 27,336 | ||||||||||||||||||||||
Loans | 303,946 | 303,334 | ||||||||||||||||||||||
Net deferred commercial loan fees | -267 | -320 | ||||||||||||||||||||||
Net deferred home equity costs | 239 | 262 | ||||||||||||||||||||||
Loans net of deferred (fees) costs | 303,918 | 303,276 | ||||||||||||||||||||||
Allowance for loan losses | -3,494 | -3,473 | ||||||||||||||||||||||
Total loans, net | $ | 300,424 | $ | 299,803 | ||||||||||||||||||||
Loan Portfolio, Summarized By Rating [Table Text Block] | ' | |||||||||||||||||||||||
December 31, 2013: | Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | 35,796 | $ | 1,197 | $ | 1,448 | $ | - | $ | 38,441 | ||||||||||||||
Commercial real estate | 146,628 | - | 6,392 | - | 153,020 | |||||||||||||||||||
Construction | 11,787 | - | - | - | 11,787 | |||||||||||||||||||
Residential mortgage | 72,847 | - | 2,125 | - | 74,972 | |||||||||||||||||||
Home equity loans and lines of credit | 25,620 | 75 | 31 | - | 25,726 | |||||||||||||||||||
Total | $ | 292,678 | $ | 1,272 | $ | 9,996 | $ | - | $ | 303,946 | ||||||||||||||
June 30, 2013: | Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | 38,149 | $ | 3,302 | $ | 870 | $ | - | $ | 42,321 | ||||||||||||||
Commercial real estate | 133,711 | 1,578 | 4,815 | - | 140,104 | |||||||||||||||||||
Construction | 13,044 | - | - | - | 13,044 | |||||||||||||||||||
Residential mortgage | 78,393 | - | 2,136 | - | 80,529 | |||||||||||||||||||
Home equity loans and lines of credit | 26,833 | 75 | 428 | - | 27,336 | |||||||||||||||||||
Total | $ | 290,130 | $ | 4,955 | $ | 8,249 | $ | - | $ | 303,334 | ||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
December 31, 2013: | Over | Total | Total | |||||||||||||||||||||
31-60 Days | 61-90 Days | 90 Days | Total | Loans | Non-Accrual | |||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Receivable | Loans | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | - | $ | - | $ | - | $ | - | $ | 38,441 | $ | 38,441 | $ | - | ||||||||||
Commercial real estate | - | - | - | - | 153,020 | 153,020 | - | |||||||||||||||||
Construction | - | - | - | - | 11,787 | 11,787 | - | |||||||||||||||||
Residential mortgage | 317 | - | 622 | 939 | 74,033 | 74,972 | 622 | |||||||||||||||||
Home equity loans and lines of credit | 189 | - | - | 189 | 25,537 | 25,726 | 75 | |||||||||||||||||
Total | $ | 506 | $ | - | $ | 622 | $ | 1,128 | $ | 302,818 | $ | 303,946 | $ | 697 | ||||||||||
June 30, 2013: | Over | Total | Total | |||||||||||||||||||||
31-60 Days | 61-90 Days | 90 Days | Total | Loans | Non-Accrual | |||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Receivable | Loans | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Commercial business | $ | - | $ | - | $ | - | $ | - | $ | 42,321 | $ | 42,321 | $ | - | ||||||||||
Commercial real estate | 82 | - | - | 82 | 140,022 | 140,104 | - | |||||||||||||||||
Construction | - | - | - | - | 13,044 | 13,044 | - | |||||||||||||||||
Residential mortgage | - | - | 622 | 622 | 79,907 | 80,529 | 622 | |||||||||||||||||
Home equity loans and lines of credit | 75 | - | - | 75 | 27,261 | 27,336 | 75 | |||||||||||||||||
Total | $ | 157 | $ | - | $ | 622 | $ | 779 | $ | 302,555 | $ | 303,334 | $ | 697 | ||||||||||
Schedule of the Allowance For Loan Losses [Table Text Block] | ' | |||||||||||||||||||||||
The following table summarizes activity in the allowance for loan losses: | ||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Balance at beginning of period | $ | 3,479 | $ | 3,140 | $ | 3,473 | $ | 3,035 | ||||||||||||||||
Provision for loan losses | 15 | -17 | 20 | 95 | ||||||||||||||||||||
Charge-offs | - | - | - | -8 | ||||||||||||||||||||
Recoveries | - | 2 | 1 | 3 | ||||||||||||||||||||
Balance at end of period | $ | 3,494 | $ | 3,125 | $ | 3,494 | $ | 3,125 | ||||||||||||||||
The following tables set forth the activity in and allocation of the allowance for loan losses by loan portfolio class for the periods as listed: | ||||||||||||||||||||||||
Three Months Ended December 31, 2013 | ||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||
Commercial | Commercial | Residential | loans and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Beginning Balance | $ | 421 | $ | 1,608 | $ | 98 | $ | 820 | $ | 281 | $ | 251 | $ | 3,479 | ||||||||||
Charge-offs | - | - | - | - | - | - | - | |||||||||||||||||
Recoveries | - | - | - | - | - | - | - | |||||||||||||||||
Provisions | -4 | 81 | 18 | -22 | -8 | -50 | 15 | |||||||||||||||||
Ending balance | $ | 417 | $ | 1,689 | $ | 116 | $ | 798 | $ | 273 | $ | 201 | $ | 3,494 | ||||||||||
Six Months Ended December 31, 2013 | ||||||||||||||||||||||||
Home | ||||||||||||||||||||||||
equity loans | ||||||||||||||||||||||||
Commercial | Commercial | Residential | and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Beginning Balance | $ | 429 | $ | 1,573 | $ | 122 | $ | 847 | $ | 270 | $ | 232 | $ | 3,473 | ||||||||||
Charge-offs | - | - | - | - | - | - | - | |||||||||||||||||
Recoveries | - | 1 | - | - | - | - | 1 | |||||||||||||||||
Provisions | -12 | 115 | -6 | -49 | 3 | -31 | 20 | |||||||||||||||||
Ending balance | $ | 417 | $ | 1,689 | $ | 116 | $ | 798 | $ | 273 | $ | 201 | $ | 3,494 | ||||||||||
Three Months Ended December 31, 2012 | ||||||||||||||||||||||||
Home equity | ||||||||||||||||||||||||
Commercial | Commercial | Residential | loans and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Beginning Balance | $ | 698 | $ | 1,156 | $ | 6 | $ | 815 | $ | 380 | $ | 85 | $ | 3,140 | ||||||||||
Charge-offs | - | - | - | - | - | - | - | |||||||||||||||||
Recoveries | - | 2 | - | - | - | - | 2 | |||||||||||||||||
Provisions | 84 | -81 | 7 | -97 | -5 | 75 | -17 | |||||||||||||||||
Ending balance | $ | 782 | $ | 1,077 | $ | 13 | $ | 718 | $ | 375 | $ | 160 | $ | 3,125 | ||||||||||
Six Months Ended December 31, 2012 | ||||||||||||||||||||||||
Home | ||||||||||||||||||||||||
equity loans | ||||||||||||||||||||||||
Commercial | Commercial | Residential | and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Beginning Balance | $ | 670 | $ | 955 | $ | 7 | $ | 772 | $ | 390 | $ | 241 | $ | 3,035 | ||||||||||
Charge-offs | - | -8 | - | - | - | - | -8 | |||||||||||||||||
Recoveries | - | 3 | - | - | - | - | 3 | |||||||||||||||||
Provisions | 112 | 127 | 6 | -54 | -15 | -81 | 95 | |||||||||||||||||
Ending balance | $ | 782 | $ | 1,077 | $ | 13 | $ | 718 | $ | 375 | $ | 160 | $ | 3,125 | ||||||||||
Impaired Loans By Loan Portfolio Class [Table Text Block] | ' | |||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses and the recorded in investment in loans by portfolio class and based on impairment method: | ||||||||||||||||||||||||
December 31, 2013: | Home | |||||||||||||||||||||||
equity | ||||||||||||||||||||||||
loans | ||||||||||||||||||||||||
Commercial | Commercial | Residential | and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total loans | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Ending allowance balance related to loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | 147 | $ | - | $ | - | $ | 147 | ||||||||||
Collectively evaluated for impairment | 417 | 1,689 | 116 | 651 | 273 | 201 | 3,347 | |||||||||||||||||
Total ending allowance balance | $ | 417 | $ | 1,689 | $ | 116 | $ | 798 | $ | 273 | $ | 201 | $ | 3,494 | ||||||||||
Loans: | ||||||||||||||||||||||||
Ending loan balance | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 117 | $ | 2,536 | $ | - | $ | 1,504 | $ | 31 | $ | 4,188 | ||||||||||||
Collectively evaluated for impairment | 38,324 | 150,484 | 11,787 | 73,468 | 25,695 | 299,758 | ||||||||||||||||||
Total ending loan balance | $ | 38,441 | $ | 153,020 | $ | 11,787 | $ | 74,972 | $ | 25,726 | $ | 303,946 | ||||||||||||
June 30, 2013: | Home | |||||||||||||||||||||||
equity | ||||||||||||||||||||||||
loans | ||||||||||||||||||||||||
Commercial | Commercial | Residential | and lines | |||||||||||||||||||||
business | real estate | Construction | mortgage | of credit | Unallocated | Total loans | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Ending allowance balance related to loans: | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | 148 | $ | - | $ | - | $ | 148 | ||||||||||
Collectively evaluated for impairment | 429 | 1,573 | 122 | 699 | 270 | 232 | 3,325 | |||||||||||||||||
Total ending allowance balance | $ | 429 | $ | 1,573 | $ | 122 | $ | 847 | $ | 270 | $ | 232 | $ | 3,473 | ||||||||||
Loans: | ||||||||||||||||||||||||
Ending loan balance | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 121 | $ | 1,329 | $ | - | $ | 1,515 | $ | 428 | $ | 3,393 | ||||||||||||
Collectively evaluated for impairment | 42,200 | 138,775 | 13,044 | 79,014 | 26,908 | 299,941 | ||||||||||||||||||
Total ending loan balance | $ | 42,321 | $ | 140,104 | $ | 13,044 | $ | 80,529 | $ | 27,336 | $ | 303,334 | ||||||||||||
The following tables summarize information in regards to impaired loans by portfolio class as of and for the periods ended: | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
At December 31, 2013 | Three Months Ended | Six Months Ended | ||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | ||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||
Commercial business | $ | 117 | $ | 117 | $ | - | $ | 118 | $ | - | $ | 119 | $ | - | ||||||||||
Commercial real estate | 2,536 | 2,625 | - | 1,926 | 19 | 1,932 | 38 | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 546 | 546 | - | 547 | 6 | 548 | 19 | |||||||||||||||||
Home equity loans and lines of | 31 | 31 | - | 230 | - | 230 | 3 | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total with no allowance recorded | $ | 3,230 | $ | 3,319 | $ | - | $ | 2,821 | $ | 25 | $ | 2,829 | $ | 60 | ||||||||||
With an Allowance Recorded: | ||||||||||||||||||||||||
Commercial business | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Commercial real estate | - | - | - | - | - | - | - | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 958 | 958 | 147 | 960 | 13 | 887 | 20 | |||||||||||||||||
Home equity loans and lines of | - | - | - | - | - | - | - | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total with allowance recorded | $ | 958 | $ | 958 | $ | 147 | $ | 960 | $ | 13 | $ | 887 | $ | 20 | ||||||||||
Total: | ||||||||||||||||||||||||
Commercial business | $ | 117 | $ | 117 | $ | - | $ | 118 | $ | - | $ | 119 | $ | - | ||||||||||
Commercial real estate | 2,536 | 2,625 | - | 1,926 | 19 | 1,932 | 38 | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 1,504 | 1,504 | 147 | 1,507 | 19 | 1,435 | 39 | |||||||||||||||||
Home equity loans and lines of | 31 | 31 | - | 230 | - | 230 | 3 | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total | $ | 4,188 | $ | 4,277 | $ | 147 | $ | 3,781 | $ | 38 | $ | 3,716 | $ | 80 | ||||||||||
31-Dec-12 | ||||||||||||||||||||||||
At December 31, 2012 | Three Months Ended | Six Months Ended | ||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | ||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||
Commercial business | $ | 7 | $ | 7 | $ | - | $ | 8 | $ | - | $ | 8 | $ | - | ||||||||||
Commercial real estate | 6,240 | 6,329 | - | 6,245 | 19 | 6,341 | 38 | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 75 | 75 | - | 266 | - | 266 | 10 | |||||||||||||||||
Home equity loans and lines of | 32 | 32 | - | 33 | 1 | 33 | 1 | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total with no allowance recorded | $ | 6,354 | $ | 6,443 | $ | - | $ | 6,552 | $ | 20 | $ | 6,648 | $ | 49 | ||||||||||
With an Allowance Recorded: | ||||||||||||||||||||||||
Commercial business | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Commercial real estate | - | - | - | - | - | - | - | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 970 | 970 | 149 | 971 | 14 | 972 | 20 | |||||||||||||||||
Home equity loans and lines of | - | - | - | - | - | - | - | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total with allowance recorded | $ | 970 | $ | 970 | $ | 149 | $ | 971 | $ | 14 | $ | 972 | $ | 20 | ||||||||||
Total: | ||||||||||||||||||||||||
Commercial business | $ | 7 | $ | 7 | $ | - | $ | 8 | $ | - | $ | 8 | $ | - | ||||||||||
Commercial real estate | 6,240 | 6,329 | - | 6,245 | 19 | 6,341 | 38 | |||||||||||||||||
Commercial construction | - | - | - | - | - | - | - | |||||||||||||||||
Residential mortgage | 1,045 | 1,045 | 149 | 1,237 | 14 | 1,238 | 30 | |||||||||||||||||
Home equity loans and lines of | 32 | 32 | - | 33 | 1 | 33 | 1 | |||||||||||||||||
credit | ||||||||||||||||||||||||
Total | $ | 7,324 | $ | 7,413 | $ | 149 | $ | 7,523 | $ | 34 | $ | 7,620 | $ | 69 | ||||||||||
30-Jun-13 | ||||||||||||||||||||||||
At June 30, 2013 | For the year ended | |||||||||||||||||||||||
Unpaid | Average | Interest | ||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||
Commercial business loans | $ | 121 | $ | 121 | $ | - | $ | 65 | $ | - | ||||||||||||||
Commercial real estate | 1,329 | 1,418 | - | 3,886 | - | |||||||||||||||||||
Commercial construction | - | - | - | - | - | |||||||||||||||||||
Residential mortgages | 551 | 551 | - | 542 | 33 | |||||||||||||||||||
Home equity loans and lines | 428 | 428 | - | 230 | - | |||||||||||||||||||
of credit | ||||||||||||||||||||||||
Total with no allowance recorded | $ | 2,429 | $ | 2,518 | $ | - | $ | 4,723 | $ | 33 | ||||||||||||||
With an Allowance Recorded: | ||||||||||||||||||||||||
Commercial business loans | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||
Commercial real estate | - | - | - | - | 72 | |||||||||||||||||||
Commercial construction | - | - | - | - | - | |||||||||||||||||||
Residential mortgages | 964 | 964 | 148 | 895 | 13 | |||||||||||||||||||
Home equity loans and lines of credit | - | - | - | - | 2 | |||||||||||||||||||
Total with allowance recorded | $ | 964 | $ | 964 | $ | 148 | $ | 895 | $ | 87 | ||||||||||||||
Total: | ||||||||||||||||||||||||
Commercial business loans | $ | 121 | $ | 121 | $ | - | $ | 65 | $ | - | ||||||||||||||
Commercial real estate | 1,329 | 1,418 | - | 3,886 | 72 | |||||||||||||||||||
Commercial construction | - | - | - | - | - | |||||||||||||||||||
Residential mortgages | 1,515 | 1,515 | 148 | 1,437 | 46 | |||||||||||||||||||
Home equity loans and lines of credit | 428 | 428 | - | 230 | 2 | |||||||||||||||||||
Total | $ | 3,393 | $ | 3,482 | $ | 148 | $ | 5,618 | $ | 120 | ||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents troubled debt restructurings occurring during the three and six month periods listed below: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | Number of Contracts | Pre-Modification Outstanding Recorded Investments | Post-Modification Outstanding Recorded Investments | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Three months ended December 31: | ||||||||||||||||||||||||
Commercial business | - | $ | - | $ | - | - | $ | - | $ | - | ||||||||||||||
Commercial real estate | 1 | 1,188 | 1,202 | - | - | - | ||||||||||||||||||
Residential mortgage | - | - | - | - | - | - | ||||||||||||||||||
Total Troubled Debt | 1 | $ | 1,188 | $ | 1,202 | - | $ | - | $ | - | ||||||||||||||
Restructurings | ||||||||||||||||||||||||
Six months ended December 31: | ||||||||||||||||||||||||
Commercial business | - | $ | - | $ | - | - | $ | - | $ | - | ||||||||||||||
Commercial real estate | 1 | 1,188 | 1,202 | - | - | - | ||||||||||||||||||
Residential mortgage | - | - | - | - | - | - | ||||||||||||||||||
Total Troubled Debt | 1 | $ | 1,188 | $ | 1,202 | - | $ | - | $ | - | ||||||||||||||
Restructurings | ||||||||||||||||||||||||
Fair_Value_Measurements_and_Di1
Fair Value Measurements and Disclosures (Tables) | 6 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Fair Value Measurements and Disclosures [Abstract] | ' | |||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||
For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at the dates listed are as follows: | ||||||||||||||||||
(In thousands) | (Level 1) | |||||||||||||||||
Quoted Prices | (Level 2) | |||||||||||||||||
in Active | Significant | (Level 3) | ||||||||||||||||
Markets for | Other | Significant | ||||||||||||||||
December 31, | Identical | Observable | Unobservable | |||||||||||||||
Description | 2013 | Assets | Inputs | Inputs | ||||||||||||||
Residential mortgage-backed securities (1) | $ | 43,736 | $ | - | $ | 43,736 | $ | - | ||||||||||
Trust preferred security | 32 | - | - | 32 | ||||||||||||||
Equity securities | 50 | - | 50 | - | ||||||||||||||
Securities available for sale | $ | 43,818 | $ | - | $ | 43,786 | $ | 32 | ||||||||||
(Level 1) | ||||||||||||||||||
Quoted Prices | (Level 2) | |||||||||||||||||
in Active | Significant | (Level 3) | ||||||||||||||||
Markets for | Other | Significant | ||||||||||||||||
June 30, | Identical | Observable | Unobservable | |||||||||||||||
Description | 2013 | Assets | Inputs | Inputs | ||||||||||||||
Residential mortgage-backed securities (1) | $ | 37,084 | $ | - | $ | 37,084 | $ | - | ||||||||||
Trust preferred security | 40 | - | - | 40 | ||||||||||||||
Equity securities | 50 | - | 50 | - | ||||||||||||||
Securities available for sale | $ | 37,174 | $ | - | $ | 37,134 | $ | 40 | ||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||
December 31, | December 31, | |||||||||||||||||
(In thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Beginning balance | $ | 37 | $ | 54 | $ | 40 | $ | 54 | ||||||||||
Principal repayments | -5 | -18 | -8 | -22 | ||||||||||||||
Unrealized gains included in other comprehensive income | - | 12 | - | 16 | ||||||||||||||
Ending balance | $ | 32 | $ | 48 | $ | 32 | $ | 48 | ||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | |||||||||||||||||
(In thousands) | (Level 1) | |||||||||||||||||
Quoted Prices | (Level 2) | |||||||||||||||||
in Active | Significant | (Level 3) | ||||||||||||||||
Markets for | Other | Significant | ||||||||||||||||
December 31, | Identical | Observable | Unobservable | |||||||||||||||
Description | 2013 | Assets | Inputs | Inputs | ||||||||||||||
Impaired loans | $ | 811 | $ | - | $ | - | $ | 811 | ||||||||||
(Level 1) | ||||||||||||||||||
Quoted Prices | (Level 2) | |||||||||||||||||
in Active | Significant | (Level 3) | ||||||||||||||||
Markets for | Other | Significant | ||||||||||||||||
June 30, | Identical | Observable | Unobservable | |||||||||||||||
Description | 2013 | Assets | Inputs | Inputs | ||||||||||||||
Impaired loans | $ | 816 | $ | - | $ | - | $ | 816 | ||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | ' | |||||||||||||||||
Quantitative information about Level 3 Fair Value Measurement is included in the tables below: | ||||||||||||||||||
(In thousands) | Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Estimated | ||||||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||||||
31-Dec-13 | Estimate | Techniques | Inputs | (weighted average) | ||||||||||||||
Impaired loans | $ | 811 | Appraisal of | Appraisal | 0.0% to -25.0% | |||||||||||||
collateral | adjustments | (-6.5%) | ||||||||||||||||
Liquidation | -3.0% to -5.0% | |||||||||||||||||
expenses | (-3.3%) | |||||||||||||||||
(In thousands) | Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Estimated | ||||||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||||||
30-Jun-13 | Estimate | Techniques | Inputs | (weighted average) | ||||||||||||||
Impaired loans | $ | 816 | Appraisal of | Appraisal | 0.0% to -25.0% | |||||||||||||
collateral | adjustments | (-6.5%) | ||||||||||||||||
Liquidation | -3.0% to -5.0% | |||||||||||||||||
expenses | (-3.3%) | |||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||||||
The estimated fair values of the Company’s financial instruments were as follows: | ||||||||||||||||||
Fair Value Hierarchy at | ||||||||||||||||||
31-Dec-13 | ||||||||||||||||||
Quoted Prices in | ||||||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||||||
31-Dec-13 | For Identical | Observable | Unobservable | |||||||||||||||
Carrying | Fair | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | $ | 15,858 | $ | 15,858 | $ | 15,858 | $ | - | $ | - | ||||||||
Interest bearing deposits with other banks | 4,456 | 4,456 | 4,456 | - | - | |||||||||||||
Securities available for sale | 43,818 | 43,818 | - | 43,786 | 32 | |||||||||||||
Securities held to maturity | 1,211 | 1,286 | - | 1,286 | - | |||||||||||||
Federal Home Loan Bank stock | 1,160 | 1,160 | - | 1,160 | - | |||||||||||||
Loans held for sale | - | - | - | - | - | |||||||||||||
Loans receivable, net | 300,424 | 306,252 | - | - | 306,252 | |||||||||||||
Accrued interest receivable | 1,069 | 1,069 | - | 1,069 | - | |||||||||||||
Mortgage servicing rights | 25 | 25 | - | - | 25 | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | 289,178 | 289,168 | - | 289,168 | - | |||||||||||||
Securities sold under agreements to repurchase | 6,672 | 6,671 | - | 6,671 | - | |||||||||||||
Federal Home Loan Bank Advances | 15,560 | 16,948 | - | 16,948 | - | |||||||||||||
Accrued interest payable | 117 | 117 | - | 117 | - | |||||||||||||
Off-Balance sheet financial instruments | - | - | - | - | - | |||||||||||||
Fair Value Hierarchy at | ||||||||||||||||||
30-Jun-13 | ||||||||||||||||||
Quoted Prices in | ||||||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||||||
30-Jun-13 | For Identical | Observable | Unobservable | |||||||||||||||
Carrying | Fair | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | $ | 16,173 | $ | 16,173 | $ | 16,173 | $ | - | $ | - | ||||||||
Interest bearing deposits with other banks | 6,692 | 6,692 | 6,692 | - | - | |||||||||||||
Securities available for sale | 37,174 | 37,174 | - | 37,134 | 40 | |||||||||||||
Securities held to maturity | 1,445 | 1,520 | - | 1,520 | - | |||||||||||||
Federal Home Loan Bank stock | 1,160 | 1,160 | - | 1,160 | - | |||||||||||||
Loans held for sale | 414 | 414 | - | - | 414 | |||||||||||||
Loans receivable, net | 299,803 | 303,770 | - | - | 303,770 | |||||||||||||
Accrued interest receivable | 1,111 | 1,111 | - | 1,111 | - | |||||||||||||
Mortgage servicing rights | 28 | 28 | - | - | 28 | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | 283,263 | 283,215 | - | 283,215 | - | |||||||||||||
Securities sold under agreements to repurchase | 8,544 | 8,543 | - | 8,543 | - | |||||||||||||
Federal Home Loan Bank Advances | 15,623 | 17,223 | - | 17,223 | - | |||||||||||||
Accrued interest payable | 111 | 111 | - | 111 | - | |||||||||||||
Off-Balance sheet financial instruments | - | - | - | - | - | |||||||||||||
Employee_Stock_Ownership_Plan_
Employee Stock Ownership Plan (Tables) | 6 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Employee Stock Ownership Plan [Abstract] | ' | |||||||
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | ' | |||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Allocated shares | 71,586 | 53,945 | ||||||
Unallocated shares | 296,240 | 314,755 | ||||||
Total ESOP shares | 367,826 | 368,700 | ||||||
Fair value of unallocated shares, in thousands | $ | 5,392 | $ | 5,537 | ||||
Share_Based_Compensation_Table
Share Based Compensation (Tables) | 6 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Share Based Compensation [Abstract] | ' | |||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||||
Weighted | ||||||||||||||||||
average | Remaining | |||||||||||||||||
exercise | contractual | |||||||||||||||||
Options | price | life (years) | ||||||||||||||||
Options outstanding at June 30, 2013 | 281,150 | $ | 14.92 | |||||||||||||||
Granted | - | - | ||||||||||||||||
Exercised | - | - | ||||||||||||||||
Forfeited | - | - | ||||||||||||||||
Expired | - | - | ||||||||||||||||
Options outstanding at December 31, 2013 | 281,150 | $ | 14.92 | 7.6 | ||||||||||||||
- | ||||||||||||||||||
Weighted | ||||||||||||||||||
average | Remaining | |||||||||||||||||
exercise | contractual | |||||||||||||||||
Options | price | life (years) | ||||||||||||||||
Options outstanding at June 30, 2012 | 272,150 | $ | 14.79 | |||||||||||||||
Granted | - | - | ||||||||||||||||
Exercised | - | - | ||||||||||||||||
Forfeited | - | - | ||||||||||||||||
Expired | - | - | ||||||||||||||||
Options outstanding at December 31, 2012 | 272,150 | $ | 14.79 | 8.6 | ||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | |||||||||||||||||
Service-Based | Weighted | Performance-Based | Weighted | Total | Weighted | |||||||||||||
Restricted | average | Restricted | average | Restricted | average | |||||||||||||
stock | grant date | stock | grant date | stock | grant date | |||||||||||||
awards | fair value | awards | fair value | awards | fair value | |||||||||||||
Non-vested at June 30, 2013 | 111,596 | $ | 14.86 | 88,872 | $ | 14.81 | 200,468 | $ | 14.84 | |||||||||
Granted | - | - | - | - | ||||||||||||||
Vested | 27,767 | $ | 14.84 | 22,218 | $ | 14.81 | 49,985 | $ | 14.83 | |||||||||
Forfeited | - | - | - | - | - | - | ||||||||||||
Non-vested at December 31, 2013 | 83,829 | $ | 14.87 | 66,654 | $ | 14.81 | 150,483 | $ | 14.84 | |||||||||
Service-Based | Weighted | Performance-Based | Weighted | Total | Weighted | |||||||||||||
Restricted | average | Restricted | average | Restricted | average | |||||||||||||
stock | grant date | stock | grant date | stock | grant date | |||||||||||||
awards | fair value | awards | fair value | awards | fair value | |||||||||||||
Non-vested at June 30, 2012 | 136,363 | $ | 14.77 | 111,090 | $ | 14.81 | 247,453 | $ | 14.79 | |||||||||
Granted | - | - | - | - | ||||||||||||||
Vested | 27,267 | $ | 14.77 | 22,218 | $ | 14.81 | 49,485 | $ | 14.79 | |||||||||
Forfeited | - | - | - | - | - | - | ||||||||||||
Non-vested at December 31, 2012 | 109,096 | $ | 14.77 | 88,872 | $ | 14.81 | 197,968 | $ | 14.79 | |||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||
December 31, | December 31, | |||||||||||||
(Dollars in thousands, except share data) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Net income | $ | 311 | $ | 397 | $ | 625 | $ | 657 | ||||||
Weighted average number of shares used in: | ||||||||||||||
Basic earnings per share | 3,737,188 | 3,799,778 | 3,736,005 | 3,812,501 | ||||||||||
Diluted common stock equivalents | 40,755 | 71,761 | 39,264 | 50,024 | ||||||||||
Diluted earnings per share | 3,777,943 | 3,871,539 | 3,775,269 | 3,862,525 | ||||||||||
Net income per common share, basic | $ | 0.08 | $ | 0.10 | $ | 0.17 | $ | 0.17 | ||||||
Net income per common share, diluted | $ | 0.08 | $ | 0.10 | $ | 0.17 | $ | 0.17 | ||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Tables) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 |
Summary of Significant Accounting Policies [Abstract] | ' | ' |
Unrealized gains (losses) on available for sale securities | ($128) | $102 |
Tax effect | -50 | 40 |
Total | ($78) | $62 |
Securities_Schedule_of_Availab
Securities (Schedule of Available-for-sale And Held-to-maturity Securities Reconciliation) (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 | ||
Available-for-sale Securities, Amortized Cost | $43,946 | $37,072 | ||
Available-for-sale Securities, Gross Unrealized Gain | 601 | 616 | ||
Available-for-sale Securities, Gross Unrealized Losses | -729 | -514 | ||
Available-for-sale Securities, Fair Value | 43,818 | 37,174 | ||
Securities held to maturity, Carrying Amount | 1,211 | 1,445 | ||
Held-to-maturity Securities, Fair Value | 1,286 | 1,520 | ||
Investment Securities, Amortized Cost | 45,157 | 38,517 | ||
Investment Securities, Gross Unrealized Gains | 676 | 691 | ||
Investment Securities, Gross Unrealized Losses | -729 | -514 | ||
Investment Securities, Fair Value | 45,104 | 38,694 | ||
Residential Mortgage Backed Securities [Member] | ' | ' | ||
Available-for-sale Securities, Amortized Cost | 43,863 | [1] | 36,981 | [1] |
Available-for-sale Securities, Gross Unrealized Gain | 601 | [1] | 616 | [1] |
Available-for-sale Securities, Gross Unrealized Losses | -728 | [1] | -513 | [1] |
Available-for-sale Securities, Fair Value | 43,736 | [1] | 37,084 | [1] |
Securities held to maturity, Carrying Amount | 1,211 | [1] | 1,445 | [1] |
Held-to-maturity Securities, Gross Unrealized Gains | 75 | [1] | 75 | [1] |
Held-to-maturity Securities, Fair Value | 1,286 | [1] | 1,520 | [1] |
Trust Preferred Securities [Member] | ' | ' | ||
Available-for-sale Securities, Amortized Cost | 33 | 41 | ||
Available-for-sale Securities, Gross Unrealized Losses | -1 | -1 | ||
Available-for-sale Securities, Fair Value | 32 | 40 | ||
Debt Securities [Member] | ' | ' | ||
Available-for-sale Securities, Amortized Cost | 43,896 | 37,022 | ||
Available-for-sale Securities, Gross Unrealized Gain | 601 | 616 | ||
Available-for-sale Securities, Gross Unrealized Losses | -729 | -514 | ||
Available-for-sale Securities, Fair Value | 43,768 | 37,124 | ||
Securities held to maturity, Carrying Amount | 1,211 | 1,445 | ||
Held-to-maturity Securities, Gross Unrealized Gains | 75 | 75 | ||
Held-to-maturity Securities, Fair Value | 1,286 | 1,520 | ||
Equity Securities [Member] | ' | ' | ||
Available-for-sale Securities, Amortized Cost | 50 | 50 | ||
Available-for-sale Securities, Fair Value | $50 | $50 | ||
[1] | All residential mortgage-backed securities were issued by FNMA, FHLMC, or GNMA. |
Securities_Investments_Classif
Securities (Investments Classified by Contractual Maturity Date) (Details) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Securities [Abstract] | ' | ' |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | $33 | ' |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | 43,863 | ' |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis | 43,896 | ' |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 32 | ' |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | 43,736 | ' |
Available-for-sale Securities, Debt Securities | 43,768 | ' |
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Net Carrying Amount | 1,211 | ' |
Securities held to maturity, Carrying Amount | 1,211 | 1,445 |
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Fair Value | 1,286 | ' |
Held-to-maturity Securities, Fair Value | $1,286 | $1,520 |
Securities_Schedule_of_Unreali
Securities (Schedule of Unrealized Loss on Investments) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 |
security | security | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | $620 | $514 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 26,059 | 18,910 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 109 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,196 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 729 | 514 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 28,255 | 18,910 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 10 | 7 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 619 | 513 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 26,027 | 18,870 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 109 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,196 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 728 | 513 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 28,223 | 18,870 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 9 | 6 |
Trust Preferred Securities [Member] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 1 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 32 | 40 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 1 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $32 | $40 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | 1 |
Securities_Narrative_Details
Securities (Narrative) (Details) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Securities [Abstract] | ' | ' |
Available-for-sale Securities Pledged as Collateral | $16,300 | $12,500 |
Credit_Quality_of_Loans_and_Pr1
Credit Quality of Loans and Provision and Allowance of Loan Losses (Loans Receivable, Net Components) (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross | $303,946 | ' | $303,334 | ' | ' | ' |
Net deferred commercial loan fees | -267 | ' | -320 | ' | ' | ' |
Net deferred home equity costs | 239 | ' | 262 | ' | ' | ' |
Loans net of deferred (fees) costs | 303,918 | ' | 303,276 | ' | ' | ' |
Allowance for loan losses | -3,494 | -3,479 | -3,473 | -3,125 | -3,140 | -3,035 |
Net loans | 300,424 | ' | 299,803 | ' | ' | ' |
Commercial Business [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross | 38,441 | ' | 42,321 | ' | ' | ' |
Allowance for loan losses | -417 | -421 | -429 | -782 | -698 | -670 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross | 153,020 | ' | 140,104 | ' | ' | ' |
Allowance for loan losses | -1,689 | -1,608 | -1,573 | -1,077 | -1,156 | -955 |
Construction [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross | 11,787 | ' | 13,044 | ' | ' | ' |
Allowance for loan losses | -116 | -98 | -122 | -13 | -6 | -7 |
Residential Mortgages [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross | 74,972 | ' | 80,529 | ' | ' | ' |
Allowance for loan losses | -798 | -820 | -847 | -718 | -815 | -772 |
Home Equity Loans And Lines Of Credit [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross | 25,726 | ' | 27,336 | ' | ' | ' |
Allowance for loan losses | ($273) | ($281) | ($270) | ($375) | ($380) | ($390) |
Credit_Quality_of_Loans_and_Pr2
Credit Quality of Loans and Provision and Allowance for Loan Losses (Loan Portfolio, Summarized By Rating) (Details) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | $303,946 | $303,334 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 292,678 | 290,130 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 1,272 | 4,955 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 9,996 | 8,249 |
Commercial Business [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 38,441 | 42,321 |
Commercial Business [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 35,796 | 38,149 |
Commercial Business [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 1,197 | 3,302 |
Commercial Business [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 1,448 | 870 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 153,020 | 140,104 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 146,628 | 133,711 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | ' | 1,578 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 6,392 | 4,815 |
Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 11,787 | 13,044 |
Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 11,787 | 13,044 |
Residential Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 74,972 | 80,529 |
Residential Mortgages [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 72,847 | 78,393 |
Residential Mortgages [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 2,125 | 2,136 |
Home Equity Loans And Lines Of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 25,726 | 27,336 |
Home Equity Loans And Lines Of Credit [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 25,620 | 26,833 |
Home Equity Loans And Lines Of Credit [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | 75 | 75 |
Home Equity Loans And Lines Of Credit [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable, gross | $31 | $428 |
Credit_Quality_of_Loans_and_Pr3
Credit Quality of Loans and Provision and Allowance for Loan Losses (Past Due Financing Receivables) (Details) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
31-60 Days Past Due | $506 | $157 |
Over 90 Days Past Due | 622 | 622 |
Total Past Due | 1,128 | 779 |
Current | 302,818 | 302,555 |
Total Loans Receivable | 303,946 | 303,334 |
Total Non-Accrual Loans | 697 | 697 |
Commercial Business [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 38,441 | 42,321 |
Total Loans Receivable | 38,441 | 42,321 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
31-60 Days Past Due | ' | 82 |
Total Past Due | ' | 82 |
Current | 153,020 | 140,022 |
Total Loans Receivable | 153,020 | 140,104 |
Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 11,787 | 13,044 |
Total Loans Receivable | 11,787 | 13,044 |
Residential Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
31-60 Days Past Due | 317 | ' |
Over 90 Days Past Due | 622 | 622 |
Total Past Due | 939 | 622 |
Current | 74,033 | 79,907 |
Total Loans Receivable | 74,972 | 80,529 |
Total Non-Accrual Loans | 622 | 622 |
Home Equity Loans And Lines Of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
31-60 Days Past Due | 189 | 75 |
Total Past Due | 189 | 75 |
Current | 25,537 | 27,261 |
Total Loans Receivable | 25,726 | 27,336 |
Total Non-Accrual Loans | $75 | $75 |
Credit_Quality_of_Loans_and_Pr4
Credit Quality of Loans and Provision and Allowance for Loan Losses (Schedule of the Allowance For Loan Losses) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of year | $3,479 | $3,140 | $3,473 | $3,035 | ' |
Provision for loan losses | 15 | -17 | 20 | 95 | ' |
Charged-off | ' | ' | ' | -8 | ' |
Recoveries | ' | 2 | 1 | 3 | ' |
Balance at end of year | 3,494 | 3,125 | 3,494 | 3,125 | ' |
Allowance for Loan Losses: Ending allowance balance related to loans: Individually evaluated for impairment | 147 | ' | 147 | ' | 148 |
Allowance for Loan Losses: Ending allowance balance related to loans: Collectively evaluated for impairment | 3,347 | ' | 3,347 | ' | 3,325 |
Total ending allowance balance | 3,494 | ' | 3,494 | ' | 3,473 |
Loans receivable: Ending loan balance Individually evaluated for impairment | 4,188 | ' | 4,188 | ' | 3,393 |
Loans receivable: Ending loan balance Collectively evaluated for impairment | 299,758 | ' | 299,758 | ' | 299,941 |
Total Loans Receivable | 303,946 | ' | 303,946 | ' | 303,334 |
Commercial Business [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of year | 421 | 698 | 429 | 670 | ' |
Provision for loan losses | -4 | 84 | -12 | 112 | ' |
Balance at end of year | 417 | 782 | 417 | 782 | ' |
Allowance for Loan Losses: Ending allowance balance related to loans: Collectively evaluated for impairment | 417 | ' | 417 | ' | 429 |
Total ending allowance balance | 417 | ' | 417 | ' | 429 |
Loans receivable: Ending loan balance Individually evaluated for impairment | 117 | ' | 117 | ' | 121 |
Loans receivable: Ending loan balance Collectively evaluated for impairment | 38,324 | ' | 38,324 | ' | 42,200 |
Total Loans Receivable | 38,441 | ' | 38,441 | ' | 42,321 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of year | 1,608 | 1,156 | 1,573 | 955 | ' |
Provision for loan losses | 81 | -81 | 115 | 127 | ' |
Charged-off | ' | ' | ' | -8 | ' |
Recoveries | ' | 2 | 1 | 3 | ' |
Balance at end of year | 1,689 | 1,077 | 1,689 | 1,077 | ' |
Allowance for Loan Losses: Ending allowance balance related to loans: Collectively evaluated for impairment | 1,689 | ' | 1,689 | ' | 1,573 |
Total ending allowance balance | 1,689 | ' | 1,689 | ' | 1,573 |
Loans receivable: Ending loan balance Individually evaluated for impairment | 2,536 | ' | 2,536 | ' | 1,329 |
Loans receivable: Ending loan balance Collectively evaluated for impairment | 150,484 | ' | 150,484 | ' | 138,775 |
Total Loans Receivable | 153,020 | ' | 153,020 | ' | 140,104 |
Construction [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of year | 98 | 6 | 122 | 7 | ' |
Provision for loan losses | 18 | 7 | -6 | 6 | ' |
Balance at end of year | 116 | 13 | 116 | 13 | ' |
Allowance for Loan Losses: Ending allowance balance related to loans: Collectively evaluated for impairment | 116 | ' | 116 | ' | 122 |
Total ending allowance balance | 116 | ' | 116 | ' | 122 |
Loans receivable: Ending loan balance Collectively evaluated for impairment | 11,787 | ' | 11,787 | ' | 13,044 |
Total Loans Receivable | 11,787 | ' | 11,787 | ' | 13,044 |
Residential Mortgages [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of year | 820 | 815 | 847 | 772 | ' |
Provision for loan losses | -22 | -97 | -49 | -54 | ' |
Balance at end of year | 798 | 718 | 798 | 718 | ' |
Allowance for Loan Losses: Ending allowance balance related to loans: Individually evaluated for impairment | 147 | ' | 147 | ' | 148 |
Allowance for Loan Losses: Ending allowance balance related to loans: Collectively evaluated for impairment | 651 | ' | 651 | ' | 699 |
Total ending allowance balance | 798 | ' | 798 | ' | 847 |
Loans receivable: Ending loan balance Individually evaluated for impairment | 1,504 | ' | 1,504 | ' | 1,515 |
Loans receivable: Ending loan balance Collectively evaluated for impairment | 73,468 | ' | 73,468 | ' | 79,014 |
Total Loans Receivable | 74,972 | ' | 74,972 | ' | 80,529 |
Home Equity Loans And Lines Of Credit [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of year | 281 | 380 | 270 | 390 | ' |
Provision for loan losses | -8 | -5 | 3 | -15 | ' |
Balance at end of year | 273 | 375 | 273 | 375 | ' |
Allowance for Loan Losses: Ending allowance balance related to loans: Collectively evaluated for impairment | 273 | ' | 273 | ' | 270 |
Total ending allowance balance | 273 | ' | 273 | ' | 270 |
Loans receivable: Ending loan balance Individually evaluated for impairment | 31 | ' | 31 | ' | 428 |
Loans receivable: Ending loan balance Collectively evaluated for impairment | 25,695 | ' | 25,695 | ' | 26,908 |
Total Loans Receivable | 25,726 | ' | 25,726 | ' | 27,336 |
Unallocated Financing Receivables [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance at beginning of year | 251 | 85 | 232 | 241 | ' |
Provision for loan losses | -50 | 75 | -31 | -81 | ' |
Balance at end of year | 201 | 160 | 201 | 160 | ' |
Allowance for Loan Losses: Ending allowance balance related to loans: Collectively evaluated for impairment | 201 | ' | 201 | ' | 232 |
Total ending allowance balance | $201 | ' | $201 | ' | $232 |
Credit_Quality_of_Loans_and_Pr5
Credit Quality of Loans and Provision and Allowance for Loan Losses (Impaired Loans By Loan Portfolio Class) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $3,230 | $6,354 | $3,230 | $6,354 | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 958 | 970 | 958 | 970 | ' |
Impaired Financing Receivable, Recorded Investment | 4,188 | 7,324 | 4,188 | 7,324 | ' |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 3,319 | 6,443 | 3,319 | 6,443 | ' |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 958 | 970 | 958 | 970 | ' |
Impaired Financing Receivable, Unpaid Principal Balance | 4,277 | 7,413 | 4,277 | 7,413 | ' |
Impaired Financing Receivable, Related Allowance | 147 | 149 | 147 | 149 | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2,821 | 6,552 | 2,829 | 6,648 | ' |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 960 | 971 | 887 | 972 | ' |
Impaired Financing Receivable, Average Recorded Investment | 3,781 | 7,523 | 3,716 | 7,620 | ' |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 25 | 20 | 60 | 49 | ' |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 13 | 14 | 20 | 20 | ' |
Impaired Financing Receivable, Interest Income, Accrual Method | 38 | 34 | 80 | 69 | ' |
Commercial Business [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 117 | 7 | 117 | 7 | 121 |
Impaired Financing Receivable, Recorded Investment | 117 | 7 | 117 | 7 | 121 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 117 | 7 | 117 | 7 | 121 |
Impaired Financing Receivable, Unpaid Principal Balance | 117 | 7 | 117 | 7 | 121 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 118 | 8 | 119 | 8 | 65 |
Impaired Financing Receivable, Average Recorded Investment | 118 | 8 | 119 | 8 | 65 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,536 | 6,240 | 2,536 | 6,240 | 1,329 |
Impaired Financing Receivable, Recorded Investment | 2,536 | 6,240 | 2,536 | 6,240 | 1,329 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,625 | 6,329 | 2,625 | 6,329 | 1,418 |
Impaired Financing Receivable, Unpaid Principal Balance | 2,625 | 6,329 | 2,625 | 6,329 | 1,418 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,926 | 6,245 | 1,932 | 6,341 | 3,886 |
Impaired Financing Receivable, Average Recorded Investment | 1,926 | 6,245 | 1,932 | 6,341 | 3,886 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 19 | 19 | 38 | 38 | ' |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | ' | ' | ' | ' | 72 |
Impaired Financing Receivable, Interest Income, Accrual Method | 19 | 19 | 38 | 38 | 72 |
Residential Mortgages [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 546 | 75 | 546 | 75 | 551 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 958 | 970 | 958 | 970 | 964 |
Impaired Financing Receivable, Recorded Investment | 1,504 | 1,045 | 1,504 | 1,045 | 1,515 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 546 | 75 | 546 | 75 | 551 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 958 | 970 | 958 | 970 | 964 |
Impaired Financing Receivable, Unpaid Principal Balance | 1,504 | 1,045 | 1,504 | 1,045 | 1,515 |
Impaired Financing Receivable, Related Allowance | 147 | 149 | 147 | 149 | 148 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 547 | 266 | 548 | 266 | 542 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 960 | 971 | 887 | 972 | 895 |
Impaired Financing Receivable, Average Recorded Investment | 1,507 | 1,237 | 1,435 | 1,238 | 1,437 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 6 | ' | 19 | 10 | 33 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 13 | 14 | 20 | 20 | 13 |
Impaired Financing Receivable, Interest Income, Accrual Method | 19 | 14 | 39 | 30 | 46 |
Home Equity Loans And Lines Of Credit [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 31 | 32 | 31 | 32 | 428 |
Impaired Financing Receivable, Recorded Investment | 31 | 32 | 31 | 32 | 428 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 31 | 32 | 31 | 32 | 428 |
Impaired Financing Receivable, Unpaid Principal Balance | 31 | 32 | 31 | 32 | 428 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 230 | 33 | 230 | 33 | 230 |
Impaired Financing Receivable, Average Recorded Investment | 230 | 33 | 230 | 33 | 230 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | ' | 1 | 3 | 1 | ' |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | ' | ' | ' | ' | 2 |
Impaired Financing Receivable, Interest Income, Accrual Method | ' | $1 | $3 | $1 | $2 |
Credit_Quality_of_Loans_and_Pr6
Credit Quality of Loans and Provision and Allowance for Loan Losses (Troubled Debt Restructurings on Financing Receivables) (Details) (USD $) | 3 Months Ended | 6 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 |
loan | loan | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 1 | 1 |
Pre-Modification Outstanding Recorded Investments | $1,188 | $1,188 |
Post-Modification Outstanding Recorded Investments | 1,202 | 1,202 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 1 | 1 |
Pre-Modification Outstanding Recorded Investments | 1,188 | 1,188 |
Post-Modification Outstanding Recorded Investments | $1,202 | $1,202 |
Fair_Value_Fair_Value_Measurem
Fair Value (Fair Value Measurements, Recurring and Nonrecurring) (Details) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | ||
In Thousands, unless otherwise specified | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Residential Mortgage Backed Securities [Member] | Trust Preferred Securities [Member] | Trust Preferred Securities [Member] | Trust Preferred Securities [Member] | Trust Preferred Securities [Member] | Debt Securities [Member] | Debt Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | Equity Securities [Member] | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Securities available for sale | $43,818 | $37,174 | $43,786 | $37,134 | $32 | $48 | $32 | $48 | $43,736 | [1] | $37,084 | [1] | $43,736 | $37,084 | $32 | $40 | $32 | $40 | $43,768 | $37,124 | $50 | $50 | $50 | $50 |
Beginning balance | 43,818 | 37,174 | 43,786 | 37,134 | 37 | 54 | 40 | 54 | 43,736 | [1] | 37,084 | [1] | 43,736 | 37,084 | 32 | 40 | 32 | 40 | 43,768 | 37,124 | 50 | 50 | 50 | 50 |
Principal repayments | ' | ' | ' | ' | -5 | -18 | -8 | -22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Unrealized gains included in other comprehensive income | ' | ' | ' | ' | ' | 12 | ' | 16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Ending balance | $43,818 | $37,174 | $43,786 | $37,134 | $32 | $48 | $32 | $48 | $43,736 | [1] | $37,084 | [1] | $43,736 | $37,084 | $32 | $40 | $32 | $40 | $43,768 | $37,124 | $50 | $50 | $50 | $50 |
[1] | All residential mortgage-backed securities were issued by FNMA, FHLMC, or GNMA. |
Fair_Value_Qualitative_Informa
Fair Value (Qualitative Information About Level 3 Fair Value Measurements) (Details) (Impaired Loans [Member], USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 811 | 816 |
Appraisal Adjustments [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Measurements, Valuation Techniques | 'Appraisal of collateral | 'Appraisal of collateral |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings, Description | 'Appraisal adjustments | 'Appraisal adjustments |
Liquidation Expenses [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings, Description | 'Liquidation expenses | 'Liquidation expenses |
Minimum [Member] | Appraisal Adjustments [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | 0.00% | 0.00% |
Minimum [Member] | Liquidation Expenses [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | -3.00% | -3.00% |
Maximum [Member] | Appraisal Adjustments [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | -25.00% | -25.00% |
Maximum [Member] | Liquidation Expenses [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | -5.00% | -5.00% |
Average [Member] | Appraisal Adjustments [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | -6.50% | -6.50% |
Average [Member] | Liquidation Expenses [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | -3.30% | -3.30% |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 811 | 816 |
Fair_Value_Fair_Value_By_Balan
Fair Value (Fair Value, By Balance Sheet Grouping) (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | ||||||
Cash and cash equivalents, Carrying Amount | $15,858 | ' | $16,173 | $11,962 | ' | $31,525 |
Cash and cash equivalents, Fair Value | 15,858 | ' | 16,173 | ' | ' | ' |
Interest bearing deposits with other banks, Carrying Amount | 4,456 | ' | 6,692 | ' | ' | ' |
Interest bearing deposits with other banks, Fair Value | 4,456 | ' | 6,692 | ' | ' | ' |
Securities available for sale | 43,818 | ' | 37,174 | ' | ' | ' |
Securities held to maturity, Carrying Amount | 1,211 | ' | 1,445 | ' | ' | ' |
Securities held to maturity, Fair Value | 1,286 | ' | 1,520 | ' | ' | ' |
Federal Home Loan Bank stock, Carrying Amount | 1,160 | ' | 1,160 | ' | ' | ' |
Federal Home Loan Bank stock, Fair Value | 1,160 | ' | 1,160 | ' | ' | ' |
Loans held for sale, Carrying Amount | ' | ' | 414 | ' | ' | ' |
Loans held for sale, Fair Value | ' | ' | 414 | ' | ' | ' |
Loans receivable, net, Carrying Amount | 300,424 | ' | 299,803 | ' | ' | ' |
Loans receivable, net, Fair Value | 306,252 | ' | 303,770 | ' | ' | ' |
Accrued interest receivable, Carrying Amount | 1,069 | ' | 1,111 | ' | ' | ' |
Accrued interest receivable, Fair Value | 1,069 | ' | 1,111 | ' | ' | ' |
Mortgage servicing rights, Carrying Amount | 25 | ' | 28 | ' | ' | ' |
Mortgage servicing rights, Fair Value | 25 | ' | 28 | ' | ' | ' |
Deposits, Carrying Amount | 289,178 | ' | 283,263 | ' | ' | ' |
Deposits, Fair Value | 289,168 | ' | 283,215 | ' | ' | ' |
Securities sold under agreements to repurchase, Carrying Amount | 6,672 | ' | 8,544 | ' | ' | ' |
Securities sold under agreements to repurchase, Fair Value | 6,671 | ' | 8,543 | ' | ' | ' |
Federal Home Loan Bank Advances, Carrying Amount | 15,560 | ' | 15,623 | ' | ' | ' |
Federal Home Loan Bank Advances, Fair Value | 16,948 | ' | 17,223 | ' | ' | ' |
Accrued interest payable, Carrying Amount | 117 | ' | 111 | ' | ' | ' |
Accrued interest payable, Fair Value | 117 | ' | 111 | ' | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents, Fair Value | 15,858 | ' | 16,173 | ' | ' | ' |
Interest bearing deposits with other banks, Fair Value | 4,456 | ' | 6,692 | ' | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ' | ' |
Securities available for sale | 43,786 | ' | 37,134 | ' | ' | ' |
Securities held to maturity, Fair Value | 1,286 | ' | 1,520 | ' | ' | ' |
Federal Home Loan Bank stock, Fair Value | 1,160 | ' | 1,160 | ' | ' | ' |
Accrued interest receivable, Fair Value | 1,069 | ' | 1,111 | ' | ' | ' |
Deposits, Fair Value | 289,168 | ' | 283,215 | ' | ' | ' |
Securities sold under agreements to repurchase, Fair Value | 6,671 | ' | 8,543 | ' | ' | ' |
Federal Home Loan Bank Advances, Fair Value | 16,948 | ' | 17,223 | ' | ' | ' |
Accrued interest payable, Fair Value | 117 | ' | 111 | ' | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' |
Securities available for sale | 32 | 37 | 40 | 48 | 54 | 54 |
Loans held for sale, Fair Value | ' | ' | 414 | ' | ' | ' |
Loans receivable, net, Fair Value | 306,252 | ' | 303,770 | ' | ' | ' |
Mortgage servicing rights, Fair Value | $25 | ' | $28 | ' | ' | ' |
Guarantees_Narrative_Details
Guarantees (Narrative) (Details) (Standby Letters of Credit [Member], USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Standby Letters of Credit [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Standby Letter of Credit Outstanding | $1.20 |
Employee_Stock_Ownership_Plan_1
Employee Stock Ownership Plan (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jan. 01, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Stock Ownership Plan [Abstract] | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Debt Structure, Direct Loan, Amount | $3,700,000 | ' | ' | ' | ' |
Shares Acquired by ESOP from the Company | 370,300 | ' | ' | ' | ' |
Common Stock, Shares Issued, Overall Percent | 8.00% | ' | ' | ' | ' |
Share Price | $10 | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Compensation Expense | ' | $88,000 | $77,000 | $173,000 | $146,000 |
Employee_Stock_Ownership_Plan_2
Employee Stock Ownership Plan (Tables) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Employee Stock Ownership Plan [Abstract] | ' | ' |
Allocated shares | 71,586 | 53,945 |
Unallocated shares | 296,240 | 314,755 |
Total ESOP shares | 367,826 | 368,700 |
Fair value of unallocated shares, in thousands | $5,392 | $5,537 |
Share_Based_Compensation_Narra
Share Based Compensation (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '5 years | ' |
Share-based Compensation | $239,000 | $234,000 | $478,000 | $469,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 528,000 | ' | 528,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | ' | ' | 56,230 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 1,900,000 | ' | 1,900,000 | ' |
Employee Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation | 52,000 | 49,000 | 103,000 | 99,000 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation | $187,000 | $185,000 | $375,000 | $370,000 |
Maximum [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 648,025 | ' | 648,025 | ' |
Share_Based_Compensation_Optio
Share Based Compensation (Option Activity Tables) (Details) (USD $) | 6 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share Based Compensation [Abstract] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | 281,150 | 272,150 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 281,150 | 272,150 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $14.92 | $14.79 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $14.92 | $14.79 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '7 years 7 months 6 days | '8 years 7 months 6 days |
Share_Based_Compensation_Restr
Share Based Compensation (Restricted Shares Activity) (Details) (USD $) | 6 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance | 200,468 | 247,453 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 49,985 | 49,485 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 150,483 | 197,968 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance | $14.84 | $14.79 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $14.83 | $14.79 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance | $14.84 | $14.79 |
Service-Based [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance | 111,596 | 136,363 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 27,767 | 27,267 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 83,829 | 109,096 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance | $14.86 | $14.77 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $14.84 | $14.77 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance | $14.87 | $14.77 |
Performance-Based [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance | 88,872 | 111,090 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 22,218 | 22,218 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 66,654 | 88,872 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance | $14.81 | $14.81 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $14.81 | $14.81 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance | $14.81 | $14.81 |
Earnings_Per_Share_Schedule_of
Earnings Per Share (Schedule of Earnings Per Share Reconciliation) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net income | $311 | $397 | $625 | $657 |
Weighted average number of shares used in: Basic earnings per share | 3,737,188 | 3,799,778 | 3,736,005 | 3,812,501 |
Diluted common stock equivalents: Stock options and restricted stock units | 40,755 | 71,761 | 39,264 | 50,024 |
Weighted average number of shares used in: Diluted earnings per share | 3,777,943 | 3,871,539 | 3,775,269 | 3,862,525 |
Net income per common share, basic | $0.08 | $0.10 | $0.17 | $0.17 |
Net income per common share, diluted | $0.08 | $0.10 | $0.17 | $0.17 |