Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Mar. 31, 2016 | May. 11, 2016 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Home Federal Bancorp, Inc. of Louisiana | |
Entity Central Index Key | 1,500,375 | |
Current Fiscal Year End Date | --06-30 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 1,988,580 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
ASSETS | ||
Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of $5,044 and $16,105 for March 31, 2016 and June 30, 2015, Respectively) | $ 7,547 | $ 21,166 |
Securities Available-for-Sale | 42,486 | 44,885 |
Securities Held-to-Maturity | 1,509 | 2,010 |
Loans Held-for-Sale | 7,284 | 14,203 |
Loans Receivable, Net of Allowance for Loan Losses of $2,749 and $2,515, Respectively | 282,365 | 268,427 |
Accrued Interest Receivable | 976 | 927 |
Premises and Equipment, Net | 12,221 | 10,188 |
Bank Owned Life Insurance | 6,485 | 6,365 |
Deferred Tax Asset | 1,047 | 824 |
Other Real Estate Owned | 0 | 40 |
Other Assets | 679 | 798 |
Total Assets | 362,599 | 369,833 |
LIABILITIES | ||
Deposits | 290,653 | 286,238 |
Advances from Borrowers for Taxes and Insurance | 478 | 578 |
Advances from Federal Home Loan Bank of Dallas | 27,227 | 38,411 |
Other Accrued Expenses and Liabilities | 1,363 | 1,220 |
Total Liabilities | 319,721 | 326,447 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock - 10,000,000 Shares of $.01 Par Value Authorized; None Issued and Outstanding | 0 | 0 |
Common Stock - 40,000,000 Shares of $.01 Par Value Authorized; 1,996,880 and 2,109,606 shares Issued and Outstanding at March 31, 2016 and June 30, 2015, respectively | 24 | 25 |
Additional Paid-in Capital | 33,765 | 33,375 |
Unearned ESOP Stock | (1,359) | (1,445) |
Unearned RRP Trust Stock | (266) | (333) |
Retained Earnings | 10,838 | 11,664 |
Accumulated Other Comprehensive Income | (124) | 100 |
Total Stockholders' Equity | 42,878 | 43,386 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 362,599 | $ 369,833 |
CONSOLIDATED STATEMENTS OF FIN3
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
ASSETS | ||
Interest-Bearing Deposits with Other Banks | $ 5,044 | $ 16,105 |
Loans Receivable, Allowance for Loan Losses | $ 2,749 | $ 2,515 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock, Authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, Issued (in shares) | 0 | 0 |
Preferred Stock, Outstanding (in shares) | 0 | 0 |
Common Stock, Authorized (in shares) | 40,000,000 | 40,000,000 |
Common Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Issued (in shares) | 1,996,880 | 2,109,606 |
Common Stock, Outstanding (in shares) | 1,996,880 | 2,109,606 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
INTEREST INCOME | ||||
Loans, Including Fees | $ 3,644 | $ 3,457 | $ 10,821 | $ 10,201 |
Investment Securities | 4 | 2 | 7 | 5 |
Mortgage-Backed Securities | 195 | 246 | 579 | 773 |
Other Interest-Earning Assets | 19 | 1 | 52 | 6 |
Total Interest Income | 3,862 | 3,706 | 11,459 | 10,985 |
INTEREST EXPENSE | ||||
Deposits | 573 | 560 | 1,777 | 1,647 |
Federal Home Loan Bank Borrowings | 61 | 66 | 186 | 178 |
Other Bank Borrowings | 11 | 3 | 18 | 3 |
Total Interest Expense | 645 | 629 | 1,981 | 1,828 |
Net Interest Income | 3,217 | 3,077 | 9,478 | 9,157 |
PROVISION FOR LOAN LOSSES | 90 | 90 | 181 | 210 |
Net Interest Income after Provision for Loan Losses | 3,127 | 2,987 | 9,297 | 8,947 |
NON-INTEREST INCOME | ||||
Gain on Sale of Loans | 590 | 781 | 1,744 | 1,668 |
Gain on Sale of Securities | 0 | 0 | 0 | 10 |
Income on Bank Owned Life Insurance | 39 | 40 | 120 | 123 |
Service Charges on deposit accounts | 138 | 116 | 410 | 329 |
Other Income | 8 | 9 | 34 | 40 |
Total Non-Interest Income | 775 | 946 | 2,308 | 2,170 |
NON-INTEREST EXPENSE | ||||
Compensation and Benefits | 1,749 | 1,669 | 5,059 | 4,616 |
Occupancy and Equipment | 275 | 280 | 789 | 778 |
Data Processing | 140 | 133 | 417 | 377 |
Audit and Examination Fees | 56 | 66 | 189 | 167 |
Franchise and Bank Shares Tax | 83 | 72 | 266 | 193 |
Advertising | 55 | 48 | 181 | 183 |
Legal Fees | 133 | 81 | 351 | 284 |
Loan Collection | 74 | 144 | 191 | 261 |
Deposit Insurance Premium | 45 | 45 | 165 | 119 |
Other Expense | 140 | 139 | 443 | 412 |
Total Non-Interest Expense | 2,750 | 2,677 | 8,051 | 7,390 |
Income Before Income Taxes | 1,152 | 1,256 | 3,554 | 3,727 |
PROVISION FOR INCOME TAX EXPENSE | 378 | 413 | 1,158 | 1,226 |
Net Income | $ 774 | $ 843 | $ 2,396 | $ 2,501 |
EARNINGS PER COMMON SHARE: | ||||
Basic (in dollars per share) | $ 0.42 | $ 0.43 | $ 1.27 | $ 1.26 |
Diluted (in dollars per share) | 0.40 | 0.42 | 1.22 | 1.22 |
DIVIDENDS DECLARED (in dollars per share) | $ 0.08 | $ 0.07 | $ 0.24 | $ 0.21 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract] | ||||
Net Income | $ 774 | $ 843 | $ 2,396 | $ 2,501 |
Other Comprehensive Income (Loss), Net of Tax | ||||
Unrealized Holding Gain (Loss) on Securities Available-for-Sale, Net of Tax of $14 and $116 in 2016, respectively, and $104 and $131 in 2015, respectively | 27 | (1) | (224) | (29) |
Reclassification Adjustment for Gain Included in Net Income, Net of Tax of $0 and $0 in 2016 and $0 and $3 in 2015, respectively | 0 | 0 | 0 | (7) |
Net Other Comprehensive Income (Loss) | 27 | (1) | (224) | (36) |
Total Comprehensive Income | $ 801 | $ 842 | $ 2,172 | $ 2,465 |
CONSOLIDATED STATEMENTS OF COM6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract] | ||||
Unrealized Holding Gain (Loss) on Securities Available-for-Sale, Tax | $ 14 | $ 104 | $ 116 | $ 131 |
Reclassification Adjustment for Gain Included in Net Income, Tax | $ 0 | $ 0 | $ 0 | $ 3 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-In Capital [Member] | Unearned ESOP Stock [Member] | Unearned RRP Trust Stock [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Beginning Balance at Jun. 30, 2014 | $ 34 | $ 32,853 | $ (1,561) | $ (609) | $ 27,588 | $ (15,698) | $ 172 | $ 42,779 |
Net Income | 0 | 0 | 0 | 0 | 2,501 | 0 | 0 | 2,501 |
Changes in Unrealized Gain on Securities Available-for-Sale, Net of Tax Effects | 0 | 0 | 0 | 0 | 0 | 0 | (36) | (36) |
RRP Shares Earned | 0 | 0 | 0 | 276 | 0 | 0 | 0 | 276 |
Stock Options Vested | 0 | 134 | 0 | 0 | 0 | 0 | 0 | 134 |
Common Stock Issuance for Stock Option Exercises | 0 | 96 | 0 | 0 | 0 | 0 | 0 | 96 |
ESOP Compensation Earned | 0 | 81 | 86 | 0 | 0 | 0 | 0 | 167 |
Company Stock Purchased | 0 | 0 | 0 | 0 | 0 | (2,305) | 0 | (2,305) |
Reclassification of Treasury Stock per Louisiana Law | (9) | 0 | 0 | 0 | (17,994) | 18,003 | 0 | 0 |
Dividends Declared | 0 | 0 | 0 | 0 | (463) | 0 | 0 | (463) |
Ending Balance at Mar. 31, 2015 | 25 | 33,164 | (1,475) | (333) | 11,632 | 0 | 136 | 43,149 |
Beginning Balance at Jun. 30, 2015 | 25 | 33,375 | (1,445) | (333) | 11,664 | 0 | 100 | 43,386 |
Net Income | 0 | 0 | 0 | 0 | 2,396 | 0 | 0 | 2,396 |
Changes in Unrealized Gain on Securities Available-for-Sale, Net of Tax Effects | 0 | 0 | 0 | 0 | 0 | 0 | (224) | (224) |
RRP Shares Earned | 0 | 36 | 0 | 67 | 0 | 0 | 0 | 103 |
Stock Options Vested | 0 | 155 | 0 | 0 | 0 | 0 | 0 | 155 |
Common Stock Issuance for Stock Option Exercises | 0 | 91 | 0 | 0 | 0 | 0 | 0 | 91 |
ESOP Compensation Earned | 0 | 108 | 86 | 0 | 0 | 0 | 0 | 194 |
Company Stock Purchased | (1) | 0 | 0 | 0 | (2,722) | 0 | 0 | (2,723) |
Dividends Declared | 0 | 0 | 0 | 0 | (500) | 0 | 0 | (500) |
Ending Balance at Mar. 31, 2016 | $ 24 | $ 33,765 | $ (1,359) | $ (266) | $ 10,838 | $ 0 | $ (124) | $ 42,878 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ 2,396 | $ 2,501 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | ||
Net Amortization and Accretion on Securities | 12 | 33 |
Gain on Sale of Securities | 0 | (10) |
Gain on Sale of Loans | (1,744) | (1,668) |
Amortization of Deferred Loan Fees | (53) | (120) |
Depreciation of Premises and Equipment | 313 | 278 |
ESOP Expense | 194 | 167 |
Stock Option Expense | 155 | 134 |
RRP and Share Award Expense | 232 | 176 |
Deferred Income Tax | (107) | (43) |
Provision for Loan Losses | 181 | 210 |
Increase in Cash Surrender Value on Bank Owned Life Insurance | (120) | (123) |
Bad Debt Recovery | 53 | 0 |
Changes in Assets and Liabilities: | ||
Loans Held-for-Sale - Originations and Purchases | (69,078) | (64,344) |
Loans Held-for-Sale - Sale and Principal Repayments | 77,741 | 65,093 |
Accrued Interest Receivable | (49) | 15 |
Other Operating Assets | 159 | (339) |
Other Operating Liabilities | (21) | (125) |
Net Cash Provided by Operating Activities | 10,264 | 1,835 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Loan Originations and Purchases, Net of Principal Collections | (14,141) | (26,041) |
Deferred Loan Fees Collected | 22 | 14 |
Acquisition of Premises and Equipment | (2,346) | (1,994) |
Activity in Available-for-Sale Securities: | ||
Proceeds from Sales of Securities | 0 | 1,963 |
Principal Payments on Mortgage-Backed Securities | 8,038 | 7,895 |
Purchases of Securities | (5,992) | (9,843) |
Activity in Held-to-Maturity Securities: | ||
Redemption Proceeds | 509 | 462 |
Purchases of Securities | (8) | (941) |
Net Cash Used in Investing Activities | (13,918) | (28,485) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net Increase in Deposits | 4,415 | 2,511 |
Proceeds from Federal Home Loan Bank Advances | 70,500 | 809,800 |
Repayments of Advances from Federal Home Loan Bank | (81,684) | (784,226) |
Net Increase in Advances from Borrowers for Taxes and Insurance | (100) | (26) |
Dividends Paid | (500) | (463) |
Company Stock Purchased | (2,717) | (2,284) |
Proceeds from Stock Options Exercised | 85 | 76 |
Proceeds from Other Bank Borrowings | 1,800 | 550 |
Repayment of Other Bank Borrowings | (1,800) | (550) |
Recognition and Retention Plan Share Distributions | 36 | 0 |
Net Cash (Used In) Provided by Financing Activities | (9,965) | 25,388 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (13,619) | (1,262) |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 21,166 | 13,633 |
CASH AND CASH EQUIVALENTS - END OF PERIOD | 7,547 | 12,371 |
SUPPLEMENTARY CASH FLOW INFORMATION | ||
Interest Paid on Deposits and Borrowed Funds | 1,987 | 1,804 |
Income Taxes Paid | 1,223 | 1,089 |
Market Value Adjustment for Loss on Securities Available-for-Sale | $ (341) | $ (55) |
Summary of Accounting Policies
Summary of Accounting Policies | 9 Months Ended |
Mar. 31, 2016 | |
Summary of Accounting Policies [Abstract] | |
Summary of Accounting Policies | 1. Summary of Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of Home Federal Bancorp, Inc. of Louisiana (the "Company") and its subsidiary, Home Federal Bank ("Home Federal Bank" or the "Bank"). These consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the nine month period ended March 31, 2016, is not necessarily indicative of the results which may be expected for the fiscal year ending June 30, 2016. The Company follows accounting standards set by the Financial Accounting Standards Board (the "FASB"). The FASB sets generally accepted accounting principles ("GAAP") that we follow to ensure we consistently report our financial condition, results of operations and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification (the "Codification" or the "ASC"). In accordance with the subsequent events topic of the ASC, the Company evaluates events and transactions that occur after the balance sheet date for potential recognition in the financial statements. The effect of all subsequent events that provide additional evidence of conditions that existed at the balance sheet date are recognized in the financial statements as of March 31, 2016. In preparing these financial statements, the Company evaluated the events and transactions that occurred through the date these financial statements were issued. Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Statements of Financial Condition and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses. Nature of Operations Home Federal Bancorp, Inc. of Louisiana, a Louisiana corporation, is the fully public stock holding company for Home Federal Bank located in Shreveport, Louisiana. The Bank is a federally chartered, stock savings and loan association and is subject to federal regulation by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (the "OCC"). The Company is a savings and loan holding company regulated by the Board of Governors of the Federal Reserve System. Services are provided to the Bank's customers by five full service banking offices and home office, located in Caddo and Bossier Parishes, Louisiana. A Cash and Cash Equivalents For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, balances due from banks, and federal funds sold, all of which mature within ninety days. Securities The Company classifies its debt and equity investment securities into one of three categories: held-to-maturity, available-for-sale, or trading. Investments in nonmarketable equity securities and debt securities, in which the Company has the positive intent and ability to hold to maturity, are classified as held-to-maturity and carried at amortized cost. Investments in debt securities that are not classified as held-to-maturity and marketable equity securities that have readily determinable fair values are classified as either trading or available-for-sale securities. Securities that are acquired and held principally for the purpose of selling in the near term are classified as trading securities. Investments in securities not classified as trading or held-to-maturity are classified as available-for-sale. Trading account and available-for-sale securities are carried at fair value. Unrealized holding gains and losses on trading securities are included in earnings while net unrealized holding gains and losses on available-for-sale securities are excluded from earnings and reported in other comprehensive income. Purchase premiums and discounts are recognized in interest income using the interest method over the term of the securities. Declines in the fair value of held-to-maturity and available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. Loans Held-for-Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Loans Loans receivable are stated at unpaid principal balances, less allowances for loan losses and unamortized deferred loan fees. Net nonrefundable fees (loan origination fees, commitment fees, discount points) and costs associated with lending activities are being deferred and subsequently amortized into income as an adjustment of yield on the related interest earning assets using the interest method. Interest income on contractual loans receivable is recognized on the accrual method. Unearned discount on property improvement and automobile loans is deferred and amortized on the interest method over the life of the loan. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of the underlying collateral and prevailing economic conditions. The evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. A loan is considered impaired when, based on current information or events, it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. When a loan is impaired, the measurement of such impairment is based upon the present value of expected future cash flows or the fair value of the collateral of the loan. If the present value of expected future cash flows or fair value of the collateral is less than the recorded investment in the loan, the Bank will recognize the impairment by creating a valuation allowance with a corresponding charge against earnings. An allowance is also established for uncollectible interest on loans classified as substandard. The allowance is established by a charge to interest income equal to all interest previously accrued and income is subsequently recognized only to the extent that cash payments are received. When, in management's judgment, the borrower's ability to make periodic interest and principal payments is back to normal, the loan is returned to accrual status. It should be understood that estimates of future loan losses involve an exercise of judgment. While it is possible that in particular periods the Company may sustain losses which are substantial relative to the allowance for loan losses, it is the judgment of management that the allowance for loan losses reflected in the accompanying statements of condition is adequate to absorb possible losses in the existing loan portfolio. Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Bank has entered into commitments to extend credit. Such financial instruments are recorded when they are funded. Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are transferred to other real estate owned at the lower of cost or current fair value minus estimated cost to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Income Taxes The Company and its wholly-owned subsidiary file a consolidated Federal income tax return on a fiscal year basis. Each entity pays its pro-rata share of income taxes in accordance with a written tax-sharing agreement. The Company accounts for income taxes on the asset and liability method. Deferred tax assets and liabilities are recorded based on the difference between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable. While the Bank is exempt from Louisiana income tax, it is subject to the Louisiana Ad Valorem Tax, commonly referred to as the Louisiana Shares Tax, which is based on stockholders' equity and net income. Comprehensive Income Accounting principles generally accepted in the United States of America require 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 equity section of the Consolidated Statements of Financial Condition, such items, along with net income, are components of comprehensive income. Stockholders' Equity On January 1, 2015, the Louisiana Business Corporation Act (the Act) became effective. Under the provisions of the Act, there is no concept of "Treasury Shares". Rather, shares purchased by the Company constitute authorized but unissued shares. Under Accounting Standards Codification (ASC) 505-30, Treasury Stock, Recent Accounting Pronouncements In January 2014, the FASB issued ASU 2014-04, Reclassification of Residential Real Estate – Collateralized Consumer Mortgage Loans upon Foreclosure In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers. Revenue Recognition, after In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. In June 2014, the FASB issued ASU 2014-12, Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In August 2014, the FASB issued ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity. In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40). In January 2015, the FASB issued ASU 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): In January 2016, the FASB issued ASU 2016-01, Financial Instruments Fair Value Measurement The provisions within this Update require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option. This amendment excludes from net income gains or losses that the entity may not realize because those financial liabilities are not usually transferred or settled at their fair values before maturity. The amendments in this Update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or in the accompanying notes to the financial statements. The amendments in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. |
Securities
Securities | 9 Months Ended |
Mar. 31, 2016 | |
Securities [Abstract] | |
Securities | 2. Securities The amortized cost and fair value of securities, with gross unrealized gains and losses, follows: March 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Securities Available-for-Sale Debt Securities FHLMC Mortgage-Backed Certificates $ 234 $ 11 $ -- $ 245 FNMA Mortgage-Backed Certificates 28,846 488 307 29,027 GNMA Mortgage-Backed Certificates 13,595 4 385 13,214 Total Debt Securities 42,675 503 692 42,486 Total Securities Available-for-Sale $ 42,675 $ 503 $ 692 $ 42,486 Securities Held-to-Maturity Equity Securities (Non-Marketable) $ 1,259 $ -- $ -- $ 1,259 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 1,509 -- -- 1,509 Total Securities Held-to-Maturity $ 1,509 $ -- $ -- $ 1,509 June 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Securities Available-for-Sale Debt Securities FHLMC Mortgage-Backed Certificates $ 267 $ 17 $ -- $ 284 FNMA Mortgage-Backed Certificates 27,263 605 61 27,807 GNMA Mortgage-Backed Certificates 17,203 5 414 16,794 Total Debt Securities 44,733 627 475 44,885 Total Securities Available-for-Sale $ 44,733 $ 627 $ 475 $ 44,885 Securities Held-to-Maturity Equity Securities (Non-Marketable) 17,600 Shares – Federal Home Loan Bank $ 1,760 $ -- $ -- $ 1,760 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,010 -- -- 2,010 Total Securities Held-to-Maturity $ 2,010 $ -- $ -- $ 2,010 T he amortized cost and fair value of securities by contractual maturity at March 31, 2016, follows: Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Debt Securities Within One Year or Less $ 1 $ 1 $ -- $ -- One through Five Years 131 132 -- -- After Five through Ten Years 71 73 -- -- Over Ten Years 42,472 42,280 -- -- 42,675 42,486 -- -- Other Equity Securities -- -- 1,509 1,509 Total $ 42,675 $ 42,486 $ 1,509 $ 1,509 There were no sales of available-for-sale securities during the nine months ended March 31, 2016. The following tables show information pertaining to gross unrealized losses on securities available-for-sale for at March 31, 2016 and at June 30, 2015 aggregated by investment category and length of time that individual securities have been in a continuous loss position. March 31, 2016 Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In Thousands) Securities Available-for-Sale Debt Securities Mortgage-Backed Securities $ 65 $ 5,872 $ 627 $ 25,098 Total Securities Available-for-Sale $ 65 $ 5,872 $ 627 $ 25,098 June 30, 2015 Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In Thousands) Securities Available-for-Sale Debt Securities Mortgage-Backed Securities $ 61 $ 10,345 $ 414 $ 16,683 Total Securities Available-for-Sale $ 61 $ 10,345 $ 414 $ 16,683 The Company's investment in equity securities consists primarily of FHLB stock and shares of First National Bankers Bankshares, Inc. ("FNBB"). Management monitors its investment portfolio to determine whether any investment securities that have unrealized losses should be considered other than temporarily impaired. At March 31, 2016, securities with a carrying value of $ 1.4 million 166.3 |
Loans Receivable
Loans Receivable | 9 Months Ended |
Mar. 31, 2016 | |
Loans Receivable [Abstract] | |
Loans Receivable | 3. Loans Receivable Loans receivable are summarized as follows: March 31, 2016 June 30, 2015 (In Thousands) Loans Secured by Mortgages on Real Estate One- to Four-Family Residential $ 112,304 $ 103,332 Commercial 69,316 62,080 Multi-Family Residential 15,451 15,246 Land 24,317 19,866 Construction 15,589 17,620 Equity and Second Mortgage 1,528 2,460 Equity Lines of Credit 17,097 22,187 255,602 242,791 Commercial Loans 29,028 28,019 Consumer Loans Loans on Savings Accounts 549 209 Automobile and Other Consumer Loans 91 110 Total Consumer and Other Loans 640 319 Total Loans 285,270 271,129 Less: Allowance for Loan Losses (2,749 ) (2,515 ) Unamortized Loan Fees (156 ) (187 ) Net Loans Receivable $ 282,365 $ 268,427 Following is a summary of changes in the allowance for loan losses: Nine Months Ended March 31, 2016 2015 (In Thousands) Balance - Beginning of Period $ 2,515 $ 2,396 Provision for Loan Losses 181 210 Loan Charge-Offs -- (151 ) Recoveries 53 -- Balance - End of Period $ 2,749 $ 2,455 Credit Quality Indicators The Company segregates loans into risk categories based on the pertinent information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans according to credit risk. Loans classified as substandard or identified as special mention are reviewed quarterly by management to evaluate the level of deterioration, improvement, and impairment, if any, as well as assign the appropriate risk category. Loans excluded from the scope of the quarterly review process above are generally identified as pass credits until: (a) they become past due; (b) management becomes aware of deterioration in the credit worthiness of the borrower; or (c) the customer contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification and the need to allocate reserves or charge-off. The Company uses the following definitions for risk ratings: Special Mention - Loans identified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. Substandard - Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss - This classification includes those loans that are considered uncollectible and of such little value that their continuance as loans is not warranted. Even though partial recovery may be possible in the future, it is not practical or desirable to defer writing off these basically worthless loans. Accordingly, these loans are charged-off before period end. The following tables present the grading of loans, segregated by class of loans, as of March 31, 2016 and June 30, 2015: March 31, 2016 Pass Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 112,044 $ 145 $ 115 $ -- $ 112,304 Commercial 68,712 339 265 -- 69,316 Multi-Family Residential 15,451 -- -- -- 15,451 Land 24,317 -- -- -- 24,317 Construction 15,589 -- -- -- 15,589 Equity and Second Mortgage 1,528 -- -- -- 1,528 Equity Lines of Credit 17,097 -- -- -- 17,097 Commercial Loans 26,243 2,785 -- -- 29,028 Consumer Loans 640 -- -- -- 640 Total $ 281,621 $ 3,269 $ 380 $ -- $ 285,270 June 30, 2015 Pass Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 103,207 $ 112 $ 13 $ -- $ 103,332 Commercial 61,542 538 -- -- 62,080 Multi-Family Residential 15,246 -- -- -- 15,246 Land 19,866 -- -- -- 19,866 Construction 17,620 -- -- -- 17,620 Equity and Second Mortgage 2,460 -- -- -- 2,460 Equity Lines of Credit 22,163 -- 24 -- 22,187 Commercial Loans 28,019 -- -- -- 28,019 Consumer Loans 319 -- -- -- 319 Total $ 270,442 $ 650 $ 37 $ -- $ 271,129 Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when contractually due. Loans that experience insignificant payment delays or payment shortfalls are generally not classified as impaired. On a case-by-case basis, management determines the significance of payment delays and payment shortfalls, taking into consideration all of the circumstances related to the loan, including: the length of the payment delay, the reasons for the delay, the borrower's prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The following tables present an aging analysis of past due loans, segregated by class of loans, as of March 31, 2016 and June 30, 2015: March 31, 2016 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 1,543 $ 1,165 $ 218 $ 2,926 $ 109,378 $ 112,304 $ 206 Commercial -- -- -- -- 69,316 69,316 -- Multi-Family Residential -- -- -- -- 15,451 15,451 -- Land -- -- -- -- 24,317 24,317 -- Construction -- -- -- -- 15,589 15,589 -- Equity and Second Mortgage -- -- -- -- 1,528 1,528 -- Equity Lines of Credit 4 -- -- 4 17,093 17,097 -- Commercial Loans -- -- -- -- 29,028 29,028 -- Consumer Loans -- -- -- -- 640 640 -- $ 1,547 $ 1,165 $ 218 $ 2,930 $ 282,340 $ 285,270 $ 206 June 30, 2015 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 2,137 $ 1,100 $ 80 $ 3,317 $ 100,015 $ 103,332 $ 67 Commercial -- -- -- -- 62,080 62,080 -- Multi-Family Residential -- -- -- -- 15,246 15,246 -- Land -- -- -- -- 19,866 19,866 -- Construction -- -- -- -- 17,620 17,620 -- Equity and Second Mortgage -- -- -- -- 2,460 2,460 -- Equity Lines of Credit -- -- -- -- 22,187 22,187 -- Commercial Loans -- -- -- -- 28,019 28,019 -- Consumer Loans 3 -- -- 3 316 319 -- Total $ 2,140 $ 1,100 $ 80 $ 3,320 $ 267,809 $ 271,129 $ 67 Loans, for which the terms have been modified, and for which the borrower is experiencing financial difficulties are considered troubled debt restructurings and designated as impaired. There were no troubled debt restructurings as of March 31, 2016 or June 30, 2015. The change in the allowance for loan losses by loan portfolio class and recorded investment in loans for the nine months ended March 31, 2016 was as follows: Real Estate Loans March 31, 2016 1-4 Family Residential Commercial Multi- Family Land Construction Home Equity Loans And Lines of Credit Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,195 $ 415 $ 103 $ 154 $ 146 $ 192 $ 305 $ 5 $ 2,515 Charge-Offs -- -- -- -- -- -- -- -- -- Recoveries 53 -- -- -- -- -- -- -- 53 Current Provision 251 (88 ) (20 ) 47 (10 ) (77 ) 72 6 181 Ending Balances $ 1,499 $ 327 $ 83 $ 201 $ 136 $ 115 $ 377 $ 11 $ 2,749 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,499 327 83 201 136 115 377 11 2,749 Loans Receivable: Ending Balances - Total $ 112,304 $ 69,316 $ 15,451 $ 24,317 $ 15,589 $ 18,625 $ 29,028 $ 640 $ 285,270 Ending Balances: Evaluated for Impairment: Individually 260 604 -- -- -- -- 2,785 -- 3,649 Collectively $ 112,044 $ 68,712 $ 15,451 $ 24,317 $ 15,589 $ 18,625 $ 26,243 $ 640 $ 281,621 The change in the allowance for loan losses by loan portfolio class and recorded investment in loans for the year ended June 30, 2015 and the nine months ended March 31, 2015, was as follows: Real Estate Loans June 30, 2015 1-4 Family Residential Commercial Multi-Family Land Construction Home Equity Loans And Lines of Credit Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,224 $ 464 $ 128 $ 168 $ 105 $ 99 $ 202 $ 6 $ 2,396 Charge-Offs (181 ) -- -- -- -- -- -- -- (181 ) Recoveries -- -- -- -- -- -- -- -- -- Current Provision 152 (49 ) (25 ) (14 ) 41 93 103 (1 ) 300 Ending Balances $ 1,195 $ 415 $ 103 $ 154 $ 146 $ 192 $ 305 $ 5 $ 2,515 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,195 415 103 154 146 192 305 5 2,515 Loans Receivable: Ending Balances - Total $ 103,332 $ 62,080 $ 15,246 $ 19,866 $ 17,620 $ 24,647 $ 28,019 $ 319 $ 271,129 Ending Balances: Evaluated for Impairment: Individually 125 537 -- -- -- 25 -- -- 687 Collectively $ 103,207 $ 61,543 $ 15,246 $ 19,866 $ 17,620 $ 24,622 $ 28,019 $ 319 $ 270,442 Real Estate Loans March 31, 2015 1-4 Family Residential Commercial Multi- Family Land Construction Home Equity Loans And Lines of Credit Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,224 $ 464 $ 128 $ 168 $ 105 $ 99 $ 202 $ 6 $ 2,396 Charge-Offs (151 ) -- -- -- -- -- -- -- (151 ) Recoveries -- -- -- -- -- -- -- -- -- Current Provision 152 (83 ) (51 ) 16 45 71 61 (1 ) 210 Ending Balances $ 1,225 $ 381 $ 77 $ 184 $ 150 $ 170 $ 263 $ 5 $ 2,455 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,225 381 77 184 150 170 263 5 2,455 Loans Receivable: Ending Balances - Total $ 98,923 $ 55,011 $ 15,845 $ 23,666 $ 18,179 $ 26,595 $ 29,587 $ 341 $ 268,147 Ending Balances: Evaluated for Impairment: Individually 126 605 -- -- -- 24 -- -- 755 Collectively $ 98,797 $ 54,406 $ 15,845 $ 23,666 $ 18,179 $ 26,571 $ 29,587 $ 341 $ 267,392 The following tables present loans individually evaluated for impairment, segregated by class of loans, as of March 31, 2016 and June 30, 2015: March 31, 2016 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Recorded Investment (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 260 $ 260 $ -- $ 260 $ -- $ 271 Commercial 604 604 -- 604 -- 592 Multi-Family Residential -- -- -- -- -- -- Land -- -- -- -- -- -- Construction -- -- -- -- -- -- Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit -- -- -- -- -- -- Commercial Loans 2,785 2,785 -- 2,785 -- 3,055 Consumer Loans -- -- -- -- -- -- Total $ 3,649 $ 3,649 $ -- $ 3,649 $ -- $ 3,918 June 30, 2015 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Recorded Investment (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 125 $ 125 $ -- $ 125 $ -- $ 133 Commercial 537 537 -- 537 -- 556 Multi-Family Residential -- -- -- -- -- -- Land -- -- -- -- -- -- Construction -- -- -- -- -- -- Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit 25 25 -- 25 -- 25 Commercial Loans -- -- -- -- -- -- Consumer Loans -- -- -- -- -- -- Total $ 687 $ 687 $ -- $ 687 $ -- $ 714 The Bank has no commitments to loan additional funds to borrowers whose loans were previously in non-accrual status. There was no interest income recognized on non-accrual loans for the nine months ended March 30, 2016 or 2015. If the non-accrual loans had been accruing interest at their original contracted rates, gross interest income that would have been recorded for the nine months ended March 31, 2016 and 2015 was $776 |
Deposits
Deposits | 9 Months Ended |
Mar. 31, 2016 | |
Deposits [Abstract] | |
Deposits | 4. Deposits Deposits at March 31, 2016 and June 30, 2015 consist of the following classifications: March 31, 2016 June 30, 2015 (In Thousands) Non-Interest Bearing $ 44,090 $ 45,024 NOW Accounts 36,081 31,214 Money Market 47,334 45,593 Passbook Savings 26,407 18,435 153,912 140,266 Certificates of Deposit 136,741 145,972 Total Deposits $ 290,653 $ 286,238 |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 5. Earnings Per Share Basic earnings per common share are computed based on the weighted average number of shares outstanding. Diluted earnings per share is computed based on the weighted average number of shares outstanding and common share equivalents that would arise from the exercise of dilutive securities. Earnings per share for the three and nine months ended March 31, 2016 and 2015 were calculated as follows: Three Months Ended March 31, Nine Months Ended March 31, 2016 2015 2016 2015 (In Thousands, Except Per Share Data) Net income $ 774 $ 843 $ 2,396 $ 2,501 Weighted average shares outstanding - basic 1,851 1,970 1,892 1,991 Effect of dilutive common stock equivalents 63 54 66 54 Adjusted weighted average shares outstanding - diluted 1,914 2,024 1,958 2,045 Basic earnings per share $ 0.42 $ 0.43 $ 1.27 $ 1.26 Diluted earnings per share $ 0.40 $ 0.42 $ 1.22 $ 1.22 For the three months ended March 31, 2016 and 2015, there were outstanding options to purchase 304,952 The following table presents the components of weighted average outstanding shares for purposes of calculating earnings per share Three Months Ended March 31, Nine Months Ended March 31, 2016 2015 2016 2015 (In Thousands) Average common shares issued 3,062 3,062 3,062 3,062 Average unearned ESOP shares (137 ) (148 ) (140 ) (152 ) Average unearned RRP shares (25 ) (41 ) (32 ) (47 ) Average treasury shares (1,049 ) (903 ) (998 ) (872 ) Weighted average shares outstanding 1,851 1,970 1,892 1,991 |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Mar. 31, 2016 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | 6. Stock-Based Compensation Recognition and Retention Plan On August 10, 2005, the shareholders of the Company approved the establishment of the Home Federal Bancorp, Inc. of Louisiana 2005 Recognition and Retention Plan and Trust Agreement (the "2005 Recognition Plan") as an incentive to retain personnel of experience and ability in key positions. The aggregate number of shares of the Company's common stock subject to award under the 2005 Recognition Plan totaled 63,547 shares (as adjusted for the exchange ratio of 0.9110 on December 22, 2010). As the shares were acquired for the 2005 Recognition Plan, the purchase price of these shares was recorded as a contra equity account. As the shares are distributed, the contra equity account is reduced. The 2005 Recognition Plan terminated on June 8, 2015 and the remaining 564 shares vested on August 19, 2015. On December 23, 2011, the shareholders of the Company approved the establishment of the Home Federal Bancorp, Inc. of Louisiana 2011 Recognition and Retention Plan and Trust Agreement (the "2011 Recognition Plan", together with the 2005 Recognition Plan, the "Recognition Plan") as an incentive to retain personnel of experience and ability in key positions. The aggregate number of shares of the Company's common stock available for award under the 2011 Recognition Plan totaled 77,808 shares, all of which were awarded as of March 31, 2016. Recognition Plan shares are earned by recipients at a rate of 20% of the aggregate number of shares covered by the Recognition Plan award over five years. Generally, if the employment of an employee or service as a non-employee director is terminated prior to the fifth anniversary of the date of grant of Recognition Plan share award, the recipient shall forfeit the right to any shares subject to the award that have not been earned. In the case of death or disability of the recipient or a change in control of the Company, the Recognition Plan awards will be vested and shall be distributed as soon as practicable thereafter. The Recognition Plan cost is recognized over the five year vesting period. During the nine months ended March 31, 2016, the Company recognized Stock Option Plan On August 10, 2005, the shareholders of the Company approved the establishment of the Home Federal Bancorp, Inc. of Louisiana 2005 Stock Option Plan (the "2005 Option Plan") for the benefit of directors, officers, and other key employees. The aggregate number of shares of common stock reserved for issuance under the 2005 Option Plan totaled 158,868 (as adjusted for the exchange ratio). Both incentive stock options and non-qualified stock options may be granted under the 2005 Option Plan. The 2005 Stock Option Plan terminated on June 8, 2015; however, outstanding stock options will remain in effect for the remainder of their original ten year terms. On December 23, 2011, the shareholders of the Company approved the establishment of the Home Federal Bancorp, Inc. of Louisiana 2011 Stock Option Plan (the "2011 Option Plan", together with the 2005 Option Plan, the "Option Plans") for the benefit of directors, officers, and other key employees. The aggregate number of shares of common stock reserved for issuance under the 2011 Option Plan totaled 194,522. Both incentive stock options and non-qualified stock options may be granted under the 2011 Option Plan, all of which were awarded as of March 31, 2016. Under the Option Plans, the exercise price of each option cannot be less than the fair market value of the underlying common stock as of the date of the option grant and the maximum term is ten years. Incentive stock options and non-qualified stock options granted under the Option Plans become vested and exercisable at a rate of 20% per year over five years, commencing one year from the date of the grant, with an additional 20% vesting on each successive anniversary of the date the option was granted. No vesting shall occur after an employee's employment or service as a director is terminated. In the event of the death or disability of an employee or director or change in control of the Company, the unvested options shall become vested and exercisable. The Company accounts for the Option Plans under the guidance of FASB ASC Topic 718, Compensation – Stock Compensation. Stock Incentive Plan On November 12, 2014, the shareholders of the Company approved the adoption of the Company's 2014 Stock Incentive Plan (the "Stock Incentive Plan") for the benefit of employees and non-employee directors as an incentive to contribute to the success of the Company and reward employees for outstanding performance and the attainment of targeted goals. The Stock Incentive Plan covers a total of 150,000 shares, of which no more than 37,500 shares, or 25% of the plan, may be share awards. The balance of the plan is reserved for stock option awards which would total 112,500 stock options assuming all the share awards are issued. There are a maximum of 3,000 unawarded share awards under the 2014 Stock Incentive Plan. All incentive stock options granted under the Stock Incentive Plan are intended to comply with the requirements of Section 422 of the Internal Revenue Code. On October 26, 2015, the Company granted a total of 34,500 plan share awards and 103,500 stock options to directors, officers, and other key employees vesting ratably over five years. The Stock Incentive Plan cost is recognized over the five year vesting period. For the nine months ended March 31, 2016, the Company recognized $58,000 in expenses related to the Stock Incentive Plan. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 7. Related Party Transactions Certain directors and executive officers were indebted to the Bank in the approximate aggregate amounts of $4.0 |
Fair Value Disclosures
Fair Value Disclosures | 9 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | 8. Fair Value Disclosures The following disclosure is made in accordance with the requirements of ASC 825, Financial Instruments ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. These disclosures should not be interpreted as representing an aggregate measure of the underlying value of the Company. The following methods and assumptions were used by the Company in estimating fair values of financial instruments: Cash and Cash Equivalents The carrying amount approximates the fair value of cash and cash equivalents. Securities to be Held-to-Maturity and Available-for-Sale Fair values for investment securities, including mortgage-backed securities, are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. The carrying values of restricted or non-marketable equity securities approximate their fair values. The carrying amount of accrued investment income approximates its fair value. Mortgage Loans Held-for-Sale Because these loans are normally disposed of within ninety days of origination, their carrying value closely approximates the fair value of such loans. Loans Receivable For variable-rate loans that re-price frequently and with no significant changes in credit risk, fair value approximates the carrying value. Fair values for other loans are estimated using the discounted value of expected future cash flows. Interest rates used are those being offered currently for loans with similar terms to borrowers of similar credit quality. The carrying amount of accrued interest receivable approximates its fair value. Deposit Liabilities The fair values for demand deposit accounts are, by definition, equal to the amount payable on demand at the reporting date, that is, their carrying amounts. Fair values for other deposit accounts are estimated using the discounted value of expected future cash flows. The discount rate is estimated using the rates currently offered for deposits of similar maturities. Advances from Federal Home Loan Bank The carrying amount of short-term borrowings approximates their fair value. The fair value of long-term debt is estimated using discounted cash flow analyses based on current incremental borrowing rates for similar borrowing arrangements. Off-Balance Sheet Credit-Related Instruments Fair values for outstanding mortgage loan commitments to lend are based on fees currently charged to enter into similar agreements, taking into account the remaining term of the agreements, customer credit quality, and changes in lending rates. The fair value of interest rate floors and caps contained in some loan servicing agreements and variable rate mortgage loan contracts are considered immaterial within the context of fair value disclosure requirements. Accordingly, no fair value estimate is provided for these instruments. The carrying amount and estimated fair values of the Company's financial instruments were as follows: March 31, 2016 June 30, 2015 Carrying Estimated Carrying Estimated Value Fair Value Value Fair Value (In Thousands) Financial Assets Cash and Cash Equivalents $ 7,547 $ 7,547 $ 21,166 $ 21,166 Securities Available-for-Sale 42,486 42,486 44,885 44,885 Securities to be Held-to-Maturity 1,509 1,509 2,010 2,010 Loans Held-for-Sale 7,284 7,284 14,203 14,203 Loans Receivable 282,365 282,236 268,427 267,157 Financial Liabilities Deposits 290,653 288,990 268,238 266,412 Advances from FHLB 27,227 27,353 38,411 38,751 Off-Balance Sheet Items Mortgage Loan Commitments 247 247 290 290 The estimated fair values presented above could be materially different than net realizable value and are only indicative of the individual financial instrument's fair value. Accordingly, these estimates should not be considered an indication of the fair value of the Company taken as a whole. The Company follows the guidance of FASB ASC Topic 820, Fair Value Measurements and Disclosures ● Defines fair value as the price that would be received to sell an asset or paid to transfer a liability, in either case, through an orderly transaction between market participants at a measurement date and establishes a framework for measuring fair value; ● Establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date; ● Nullifies the guidance in EITF 02-3, which required the deferral of profit at inception of a transaction involving a derivative financial instrument in the absence of observable data supporting the valuation technique; ● Eliminates large position discounts for financial instruments quoted in active markets and requires consideration of the company's creditworthiness when valuing liabilities; and ● Expands disclosures about instrument that are measured at fair value. The standard establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy favors the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: ● Level 1 – Fair value is based upon quoted prices (unadjusted) for identical assets or liabilities in active markets in which the Company can participate. ● Level 2 – Fair value is based upon (a) quoted prices for similar assets or liabilities in active markets; (b) quoted prices for identical or similar assets or liabilities in markets that are not active, that is, markets in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly; (c) inputs other than quoted prices that are observable for the asset or liability or (d) inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Fair value is based upon A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Fair values of assets and liabilities measured on a recurring basis at March 31, 2016 and June 30, 2015 are as follows: Fair Value Measurements Using: March 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 245 $ -- $ 245 FNMA -- 29,027 -- 29,027 GNMA -- 13,214 -- 13,214 Total $ -- $ 42,486 $ -- $ 42,486 Fair Value Measurements Using: June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 284 $ -- $ 284 FNMA -- 27,807 -- 27,807 GNMA -- 16,794 -- 16,794 Total $ -- $ 44,885 $ -- $ 44,885 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | 9. Subsequent Events In accordance with FASB ASC 855, Subsequent Events |
Summary of Accounting Policies
Summary of Accounting Policies (Policies) | 9 Months Ended |
Mar. 31, 2016 | |
Summary of Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The consolidated financial statements include the accounts of Home Federal Bancorp, Inc. of Louisiana (the "Company") and its subsidiary, Home Federal Bank ("Home Federal Bank" or the "Bank"). These consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the nine month period ended March 31, 2016, is not necessarily indicative of the results which may be expected for the fiscal year ending June 30, 2016. The Company follows accounting standards set by the Financial Accounting Standards Board (the "FASB"). The FASB sets generally accepted accounting principles ("GAAP") that we follow to ensure we consistently report our financial condition, results of operations and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification (the "Codification" or the "ASC"). In accordance with the subsequent events topic of the ASC, the Company evaluates events and transactions that occur after the balance sheet date for potential recognition in the financial statements. The effect of all subsequent events that provide additional evidence of conditions that existed at the balance sheet date are recognized in the financial statements as of March 31, 2016. In preparing these financial statements, the Company evaluated the events and transactions that occurred through the date these financial statements were issued. |
Use of Estimates | Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Statements of Financial Condition and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses. |
Nature of Operations | Nature of Operations Home Federal Bancorp, Inc. of Louisiana, a Louisiana corporation, is the fully public stock holding company for Home Federal Bank located in Shreveport, Louisiana. The Bank is a federally chartered, stock savings and loan association and is subject to federal regulation by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (the "OCC"). The Company is a savings and loan holding company regulated by the Board of Governors of the Federal Reserve System. Services are provided to the Bank's customers by five full service banking offices and home office, located in Caddo and Bossier Parishes, Louisiana. A |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, balances due from banks, and federal funds sold, all of which mature within ninety days. |
Securities | Securities The Company classifies its debt and equity investment securities into one of three categories: held-to-maturity, available-for-sale, or trading. Investments in nonmarketable equity securities and debt securities, in which the Company has the positive intent and ability to hold to maturity, are classified as held-to-maturity and carried at amortized cost. Investments in debt securities that are not classified as held-to-maturity and marketable equity securities that have readily determinable fair values are classified as either trading or available-for-sale securities. Securities that are acquired and held principally for the purpose of selling in the near term are classified as trading securities. Investments in securities not classified as trading or held-to-maturity are classified as available-for-sale. Trading account and available-for-sale securities are carried at fair value. Unrealized holding gains and losses on trading securities are included in earnings while net unrealized holding gains and losses on available-for-sale securities are excluded from earnings and reported in other comprehensive income. Purchase premiums and discounts are recognized in interest income using the interest method over the term of the securities. Declines in the fair value of held-to-maturity and available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. |
Loans Held-for-Sale | Loans Held-for-Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. |
Loans | Loans Loans receivable are stated at unpaid principal balances, less allowances for loan losses and unamortized deferred loan fees. Net nonrefundable fees (loan origination fees, commitment fees, discount points) and costs associated with lending activities are being deferred and subsequently amortized into income as an adjustment of yield on the related interest earning assets using the interest method. Interest income on contractual loans receivable is recognized on the accrual method. Unearned discount on property improvement and automobile loans is deferred and amortized on the interest method over the life of the loan. |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of the underlying collateral and prevailing economic conditions. The evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. A loan is considered impaired when, based on current information or events, it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. When a loan is impaired, the measurement of such impairment is based upon the present value of expected future cash flows or the fair value of the collateral of the loan. If the present value of expected future cash flows or fair value of the collateral is less than the recorded investment in the loan, the Bank will recognize the impairment by creating a valuation allowance with a corresponding charge against earnings. An allowance is also established for uncollectible interest on loans classified as substandard. The allowance is established by a charge to interest income equal to all interest previously accrued and income is subsequently recognized only to the extent that cash payments are received. When, in management's judgment, the borrower's ability to make periodic interest and principal payments is back to normal, the loan is returned to accrual status. It should be understood that estimates of future loan losses involve an exercise of judgment. While it is possible that in particular periods the Company may sustain losses which are substantial relative to the allowance for loan losses, it is the judgment of management that the allowance for loan losses reflected in the accompanying statements of condition is adequate to absorb possible losses in the existing loan portfolio. |
Off-Balance Sheet Credit Related Financial Instruments | Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Bank has entered into commitments to extend credit. Such financial instruments are recorded when they are funded. |
Foreclosed Assets | Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are transferred to other real estate owned at the lower of cost or current fair value minus estimated cost to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. |
Premises and Equipment | Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. |
Income Taxes | Income Taxes The Company and its wholly-owned subsidiary file a consolidated Federal income tax return on a fiscal year basis. Each entity pays its pro-rata share of income taxes in accordance with a written tax-sharing agreement. The Company accounts for income taxes on the asset and liability method. Deferred tax assets and liabilities are recorded based on the difference between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable. While the Bank is exempt from Louisiana income tax, it is subject to the Louisiana Ad Valorem Tax, commonly referred to as the Louisiana Shares Tax, which is based on stockholders' equity and net income. |
Comprehensive Income | Comprehensive Income Accounting principles generally accepted in the United States of America require 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 equity section of the Consolidated Statements of Financial Condition, such items, along with net income, are components of comprehensive income. |
Stockholders' Equity | Stockholders' Equity On January 1, 2015, the Louisiana Business Corporation Act (the Act) became effective. Under the provisions of the Act, there is no concept of "Treasury Shares". Rather, shares purchased by the Company constitute authorized but unissued shares. Under Accounting Standards Codification (ASC) 505-30, Treasury Stock, |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In January 2014, the FASB issued ASU 2014-04, Reclassification of Residential Real Estate – Collateralized Consumer Mortgage Loans upon Foreclosure In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers. Revenue Recognition, after In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. In June 2014, the FASB issued ASU 2014-12, Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In August 2014, the FASB issued ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity. In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40). In January 2015, the FASB issued ASU 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): In January 2016, the FASB issued ASU 2016-01, Financial Instruments Fair Value Measurement The provisions within this Update require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option. This amendment excludes from net income gains or losses that the entity may not realize because those financial liabilities are not usually transferred or settled at their fair values before maturity. The amendments in this Update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or in the accompanying notes to the financial statements. The amendments in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Securities [Abstract] | |
Amortized cost and fair value of securities, with gross unrealized gains and losses | The amortized cost and fair value of securities, with gross unrealized gains and losses, follows: March 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Securities Available-for-Sale Debt Securities FHLMC Mortgage-Backed Certificates $ 234 $ 11 $ -- $ 245 FNMA Mortgage-Backed Certificates 28,846 488 307 29,027 GNMA Mortgage-Backed Certificates 13,595 4 385 13,214 Total Debt Securities 42,675 503 692 42,486 Total Securities Available-for-Sale $ 42,675 $ 503 $ 692 $ 42,486 Securities Held-to-Maturity Equity Securities (Non-Marketable) $ 1,259 $ -- $ -- $ 1,259 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 1,509 -- -- 1,509 Total Securities Held-to-Maturity $ 1,509 $ -- $ -- $ 1,509 June 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) Securities Available-for-Sale Debt Securities FHLMC Mortgage-Backed Certificates $ 267 $ 17 $ -- $ 284 FNMA Mortgage-Backed Certificates 27,263 605 61 27,807 GNMA Mortgage-Backed Certificates 17,203 5 414 16,794 Total Debt Securities 44,733 627 475 44,885 Total Securities Available-for-Sale $ 44,733 $ 627 $ 475 $ 44,885 Securities Held-to-Maturity Equity Securities (Non-Marketable) 17,600 Shares – Federal Home Loan Bank $ 1,760 $ -- $ -- $ 1,760 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,010 -- -- 2,010 Total Securities Held-to-Maturity $ 2,010 $ -- $ -- $ 2,010 |
Amortized cost and fair value of debt securities by contractual maturity | T he amortized cost and fair value of securities by contractual maturity at March 31, 2016, follows: Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Debt Securities Within One Year or Less $ 1 $ 1 $ -- $ -- One through Five Years 131 132 -- -- After Five through Ten Years 71 73 -- -- Over Ten Years 42,472 42,280 -- -- 42,675 42,486 -- -- Other Equity Securities -- -- 1,509 1,509 Total $ 42,675 $ 42,486 $ 1,509 $ 1,509 |
Information pertaining to securities with gross unrealized losses, continuous loss position | The following tables show information pertaining to gross unrealized losses on securities available-for-sale for at March 31, 2016 and at June 30, 2015 aggregated by investment category and length of time that individual securities have been in a continuous loss position. March 31, 2016 Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In Thousands) Securities Available-for-Sale Debt Securities Mortgage-Backed Securities $ 65 $ 5,872 $ 627 $ 25,098 Total Securities Available-for-Sale $ 65 $ 5,872 $ 627 $ 25,098 June 30, 2015 Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In Thousands) Securities Available-for-Sale Debt Securities Mortgage-Backed Securities $ 61 $ 10,345 $ 414 $ 16,683 Total Securities Available-for-Sale $ 61 $ 10,345 $ 414 $ 16,683 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Loans Receivable [Abstract] | |
Summary of loans receivable | Loans receivable are summarized as follows: March 31, 2016 June 30, 2015 (In Thousands) Loans Secured by Mortgages on Real Estate One- to Four-Family Residential $ 112,304 $ 103,332 Commercial 69,316 62,080 Multi-Family Residential 15,451 15,246 Land 24,317 19,866 Construction 15,589 17,620 Equity and Second Mortgage 1,528 2,460 Equity Lines of Credit 17,097 22,187 255,602 242,791 Commercial Loans 29,028 28,019 Consumer Loans Loans on Savings Accounts 549 209 Automobile and Other Consumer Loans 91 110 Total Consumer and Other Loans 640 319 Total Loans 285,270 271,129 Less: Allowance for Loan Losses (2,749 ) (2,515 ) Unamortized Loan Fees (156 ) (187 ) Net Loans Receivable $ 282,365 $ 268,427 |
Analysis of allowance for loan losses | Following is a summary of changes in the allowance for loan losses: Nine Months Ended March 31, 2016 2015 (In Thousands) Balance - Beginning of Period $ 2,515 $ 2,396 Provision for Loan Losses 181 210 Loan Charge-Offs -- (151 ) Recoveries 53 -- Balance - End of Period $ 2,749 $ 2,455 |
Grading of loans, segregated by class of loans | The following tables present the grading of loans, segregated by class of loans, as of March 31, 2016 and June 30, 2015: March 31, 2016 Pass Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 112,044 $ 145 $ 115 $ -- $ 112,304 Commercial 68,712 339 265 -- 69,316 Multi-Family Residential 15,451 -- -- -- 15,451 Land 24,317 -- -- -- 24,317 Construction 15,589 -- -- -- 15,589 Equity and Second Mortgage 1,528 -- -- -- 1,528 Equity Lines of Credit 17,097 -- -- -- 17,097 Commercial Loans 26,243 2,785 -- -- 29,028 Consumer Loans 640 -- -- -- 640 Total $ 281,621 $ 3,269 $ 380 $ -- $ 285,270 June 30, 2015 Pass Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 103,207 $ 112 $ 13 $ -- $ 103,332 Commercial 61,542 538 -- -- 62,080 Multi-Family Residential 15,246 -- -- -- 15,246 Land 19,866 -- -- -- 19,866 Construction 17,620 -- -- -- 17,620 Equity and Second Mortgage 2,460 -- -- -- 2,460 Equity Lines of Credit 22,163 -- 24 -- 22,187 Commercial Loans 28,019 -- -- -- 28,019 Consumer Loans 319 -- -- -- 319 Total $ 270,442 $ 650 $ 37 $ -- $ 271,129 |
Aging analysis of past due loans segregated by class of loans | The following tables present an aging analysis of past due loans, segregated by class of loans, as of March 31, 2016 and June 30, 2015: March 31, 2016 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 1,543 $ 1,165 $ 218 $ 2,926 $ 109,378 $ 112,304 $ 206 Commercial -- -- -- -- 69,316 69,316 -- Multi-Family Residential -- -- -- -- 15,451 15,451 -- Land -- -- -- -- 24,317 24,317 -- Construction -- -- -- -- 15,589 15,589 -- Equity and Second Mortgage -- -- -- -- 1,528 1,528 -- Equity Lines of Credit 4 -- -- 4 17,093 17,097 -- Commercial Loans -- -- -- -- 29,028 29,028 -- Consumer Loans -- -- -- -- 640 640 -- $ 1,547 $ 1,165 $ 218 $ 2,930 $ 282,340 $ 285,270 $ 206 June 30, 2015 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 2,137 $ 1,100 $ 80 $ 3,317 $ 100,015 $ 103,332 $ 67 Commercial -- -- -- -- 62,080 62,080 -- Multi-Family Residential -- -- -- -- 15,246 15,246 -- Land -- -- -- -- 19,866 19,866 -- Construction -- -- -- -- 17,620 17,620 -- Equity and Second Mortgage -- -- -- -- 2,460 2,460 -- Equity Lines of Credit -- -- -- -- 22,187 22,187 -- Commercial Loans -- -- -- -- 28,019 28,019 -- Consumer Loans 3 -- -- 3 316 319 -- Total $ 2,140 $ 1,100 $ 80 $ 3,320 $ 267,809 $ 271,129 $ 67 |
Allowance for loan losses and recorded investment in loans | The change in the allowance for loan losses by loan portfolio class and recorded investment in loans for the nine months ended March 31, 2016 was as follows: Real Estate Loans March 31, 2016 1-4 Family Residential Commercial Multi- Family Land Construction Home Equity Loans And Lines of Credit Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,195 $ 415 $ 103 $ 154 $ 146 $ 192 $ 305 $ 5 $ 2,515 Charge-Offs -- -- -- -- -- -- -- -- -- Recoveries 53 -- -- -- -- -- -- -- 53 Current Provision 251 (88 ) (20 ) 47 (10 ) (77 ) 72 6 181 Ending Balances $ 1,499 $ 327 $ 83 $ 201 $ 136 $ 115 $ 377 $ 11 $ 2,749 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,499 327 83 201 136 115 377 11 2,749 Loans Receivable: Ending Balances - Total $ 112,304 $ 69,316 $ 15,451 $ 24,317 $ 15,589 $ 18,625 $ 29,028 $ 640 $ 285,270 Ending Balances: Evaluated for Impairment: Individually 260 604 -- -- -- -- 2,785 -- 3,649 Collectively $ 112,044 $ 68,712 $ 15,451 $ 24,317 $ 15,589 $ 18,625 $ 26,243 $ 640 $ 281,621 The change in the allowance for loan losses by loan portfolio class and recorded investment in loans for the year ended June 30, 2015 and the nine months ended March 31, 2015, was as follows: Real Estate Loans June 30, 2015 1-4 Family Residential Commercial Multi-Family Land Construction Home Equity Loans And Lines of Credit Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,224 $ 464 $ 128 $ 168 $ 105 $ 99 $ 202 $ 6 $ 2,396 Charge-Offs (181 ) -- -- -- -- -- -- -- (181 ) Recoveries -- -- -- -- -- -- -- -- -- Current Provision 152 (49 ) (25 ) (14 ) 41 93 103 (1 ) 300 Ending Balances $ 1,195 $ 415 $ 103 $ 154 $ 146 $ 192 $ 305 $ 5 $ 2,515 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,195 415 103 154 146 192 305 5 2,515 Loans Receivable: Ending Balances - Total $ 103,332 $ 62,080 $ 15,246 $ 19,866 $ 17,620 $ 24,647 $ 28,019 $ 319 $ 271,129 Ending Balances: Evaluated for Impairment: Individually 125 537 -- -- -- 25 -- -- 687 Collectively $ 103,207 $ 61,543 $ 15,246 $ 19,866 $ 17,620 $ 24,622 $ 28,019 $ 319 $ 270,442 Real Estate Loans March 31, 2015 1-4 Family Residential Commercial Multi- Family Land Construction Home Equity Loans And Lines of Credit Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,224 $ 464 $ 128 $ 168 $ 105 $ 99 $ 202 $ 6 $ 2,396 Charge-Offs (151 ) -- -- -- -- -- -- -- (151 ) Recoveries -- -- -- -- -- -- -- -- -- Current Provision 152 (83 ) (51 ) 16 45 71 61 (1 ) 210 Ending Balances $ 1,225 $ 381 $ 77 $ 184 $ 150 $ 170 $ 263 $ 5 $ 2,455 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,225 381 77 184 150 170 263 5 2,455 Loans Receivable: Ending Balances - Total $ 98,923 $ 55,011 $ 15,845 $ 23,666 $ 18,179 $ 26,595 $ 29,587 $ 341 $ 268,147 Ending Balances: Evaluated for Impairment: Individually 126 605 -- -- -- 24 -- -- 755 Collectively $ 98,797 $ 54,406 $ 15,845 $ 23,666 $ 18,179 $ 26,571 $ 29,587 $ 341 $ 267,392 |
Loans individually evaluated for impairment segregated by class of loans | The following tables present loans individually evaluated for impairment, segregated by class of loans, as of March 31, 2016 and June 30, 2015: March 31, 2016 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Recorded Investment (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 260 $ 260 $ -- $ 260 $ -- $ 271 Commercial 604 604 -- 604 -- 592 Multi-Family Residential -- -- -- -- -- -- Land -- -- -- -- -- -- Construction -- -- -- -- -- -- Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit -- -- -- -- -- -- Commercial Loans 2,785 2,785 -- 2,785 -- 3,055 Consumer Loans -- -- -- -- -- -- Total $ 3,649 $ 3,649 $ -- $ 3,649 $ -- $ 3,918 June 30, 2015 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Recorded Investment (In Thousands) Real Estate Loans: One- to Four-Family Residential $ 125 $ 125 $ -- $ 125 $ -- $ 133 Commercial 537 537 -- 537 -- 556 Multi-Family Residential -- -- -- -- -- -- Land -- -- -- -- -- -- Construction -- -- -- -- -- -- Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit 25 25 -- 25 -- 25 Commercial Loans -- -- -- -- -- -- Consumer Loans -- -- -- -- -- -- Total $ 687 $ 687 $ -- $ 687 $ -- $ 714 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Deposits [Abstract] | |
Interest expense on deposits | Deposits at March 31, 2016 and June 30, 2015 consist of the following classifications: March 31, 2016 June 30, 2015 (In Thousands) Non-Interest Bearing $ 44,090 $ 45,024 NOW Accounts 36,081 31,214 Money Market 47,334 45,593 Passbook Savings 26,407 18,435 153,912 140,266 Certificates of Deposit 136,741 145,972 Total Deposits $ 290,653 $ 286,238 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Calculation of earnings per share | Earnings per share for the three and nine months ended March 31, 2016 and 2015 were calculated as follows: Three Months Ended March 31, Nine Months Ended March 31, 2016 2015 2016 2015 (In Thousands, Except Per Share Data) Net income $ 774 $ 843 $ 2,396 $ 2,501 Weighted average shares outstanding - basic 1,851 1,970 1,892 1,991 Effect of dilutive common stock equivalents 63 54 66 54 Adjusted weighted average shares outstanding - diluted 1,914 2,024 1,958 2,045 Basic earnings per share $ 0.42 $ 0.43 $ 1.27 $ 1.26 Diluted earnings per share $ 0.40 $ 0.42 $ 1.22 $ 1.22 |
Components of average outstanding common shares | The following table presents the components of weighted average outstanding shares for purposes of calculating earnings per share Three Months Ended March 31, Nine Months Ended March 31, 2016 2015 2016 2015 (In Thousands) Average common shares issued 3,062 3,062 3,062 3,062 Average unearned ESOP shares (137 ) (148 ) (140 ) (152 ) Average unearned RRP shares (25 ) (41 ) (32 ) (47 ) Average treasury shares (1,049 ) (903 ) (998 ) (872 ) Weighted average shares outstanding 1,851 1,970 1,892 1,991 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Carrying amount and estimated fair values of financial instruments | The carrying amount and estimated fair values of the Company's financial instruments were as follows: March 31, 2016 June 30, 2015 Carrying Estimated Carrying Estimated Value Fair Value Value Fair Value (In Thousands) Financial Assets Cash and Cash Equivalents $ 7,547 $ 7,547 $ 21,166 $ 21,166 Securities Available-for-Sale 42,486 42,486 44,885 44,885 Securities to be Held-to-Maturity 1,509 1,509 2,010 2,010 Loans Held-for-Sale 7,284 7,284 14,203 14,203 Loans Receivable 282,365 282,236 268,427 267,157 Financial Liabilities Deposits 290,653 288,990 268,238 266,412 Advances from FHLB 27,227 27,353 38,411 38,751 Off-Balance Sheet Items Mortgage Loan Commitments 247 247 290 290 |
Fair values of assets and liabilities measured on a recurring basis | Fair values of assets and liabilities measured on a recurring basis at March 31, 2016 and June 30, 2015 are as follows: Fair Value Measurements Using: March 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 245 $ -- $ 245 FNMA -- 29,027 -- 29,027 GNMA -- 13,214 -- 13,214 Total $ -- $ 42,486 $ -- $ 42,486 Fair Value Measurements Using: June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 284 $ -- $ 284 FNMA -- 27,807 -- 27,807 GNMA -- 16,794 -- 16,794 Total $ -- $ 44,885 $ -- $ 44,885 |
Summary of Accounting Policie24
Summary of Accounting Policies (Details) | 9 Months Ended |
Mar. 31, 2016OfficeSubsidiary | |
Nature of Operations [Abstract] | |
Number of wholly-owned subsidiaries | Subsidiary | 1 |
Shreveport [Member] | |
Nature of Operations [Abstract] | |
Number of full-service banking offices and home office | Office | 5 |
Securities, Amortized Cost and
Securities, Amortized Cost and Fair Value of Securities, with Gross Unrealized Gains and Losses (Details) - USD ($) shares in Thousands, $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 42,675 | $ 44,733 |
Gross Unrealized Gains | 503 | 627 |
Gross Unrealized Losses | 692 | 475 |
Fair Value | 42,486 | 44,885 |
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 42,675 | 44,733 |
Gross Unrealized Gains | 503 | 627 |
Gross Unrealized Losses | 692 | 475 |
Fair value | 42,486 | 44,885 |
Held-to-maturity Equity Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 1,509 | 2,010 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 1,509 | 2,010 |
Held-to-Maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 1,509 | 2,010 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 1,509 | 2,010 |
Federal Home Loan Bank [Member] | ||
Held-to-maturity Equity Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 1,259 | 1,760 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 1,259 | $ 1,760 |
Number of equity securities (in shares) | 12,586 | 17,600 |
First National Bankers Bankshares, Inc. [Member] | ||
Held-to-maturity Equity Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 250 | $ 250 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 250 | $ 250 |
Number of equity securities (in shares) | 630 | 630 |
FHLMC Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 234 | $ 267 |
Gross Unrealized Gains | 11 | 17 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 245 | 284 |
FNMA Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 28,846 | 27,263 |
Gross Unrealized Gains | 488 | 605 |
Gross Unrealized Losses | 307 | 61 |
Fair Value | 29,027 | 27,807 |
GNMA Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 13,595 | 17,203 |
Gross Unrealized Gains | 4 | 5 |
Gross Unrealized Losses | 385 | 414 |
Fair Value | $ 13,214 | $ 16,794 |
Securities, Securities by Contr
Securities, Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2016 | Jun. 30, 2015 | |
Available-for-Sale, Amortized Cost [Abstract] | ||
Within One Year or Less | $ 1 | |
One through Five Years | 131 | |
After Five through Ten Years | 71 | |
Over Ten Years | 42,472 | |
Amortized Cost | 42,675 | $ 44,733 |
Other Equity Securities | 0 | |
Amortized Cost | 42,675 | 44,733 |
Available-for-Sale, Fair Value [Abstract] | ||
Within One Year or Less | 1 | |
One through Five Years | 132 | |
After Five through Ten Years | 73 | |
Over Ten Years | 42,280 | |
Fair Value | 42,486 | 44,885 |
Other Equity Securities | 0 | |
Fair Value | 42,486 | 44,885 |
Proceeds from sale of securities available-for-sale | 0 | |
Held-to-Maturity, Amortized Cost [Abstract] | ||
Within One Year or Less | 0 | |
One through Five Years | 0 | |
After Five through Ten Years | 0 | |
Over Ten Years | 0 | |
Amortized Cost | 0 | |
Other Equity Securities | 1,509 | 2,010 |
Amortized Cost | 1,509 | 2,010 |
Held-to-Maturity, Fair Value [Abstract] | ||
Within One Year or Less | 0 | |
One through Five Years | 0 | |
After Five through Ten Years | 0 | |
Over Ten Years | 0 | |
Fair Value | 0 | |
Other Equity Securities | 1,509 | |
Fair Value | $ 1,509 | $ 2,010 |
Securities, Securities with Gro
Securities, Securities with Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Securities Available-for-sale Securities, Gross Unrealized Losses [Abstract] | ||
Less Than Twelve Months | $ 65 | $ 61 |
Over Twelve Months | 627 | 414 |
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Less than Twelve Months | 5,872 | 10,345 |
Over Twelve Months | 25,098 | 16,683 |
Public Deposits [Member] | ||
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Securities pledged with carrying value | 1,400 | |
FHLB Advances [Member] | ||
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Securities pledged with carrying value | 166,300 | |
Mortgage-Backed Securities [Member] | ||
Securities Available-for-sale Securities, Gross Unrealized Losses [Abstract] | ||
Less Than Twelve Months | 65 | 61 |
Over Twelve Months | 627 | 414 |
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Less than Twelve Months | 5,872 | 10,345 |
Over Twelve Months | $ 25,098 | $ 16,683 |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | 9 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Jun. 30, 2015 | Mar. 31, 2015 | |
Loan receivable [Abstract] | |||||
Gross Loans Receivable | $ 285,270 | $ 271,129 | $ 268,147 | ||
Less: Allowance for Loan Losses | $ (2,749) | $ (2,396) | (2,749) | (2,515) | (2,455) |
Unamortized Loan Fees | (156) | (187) | |||
Net Loans Receivable | 282,365 | 268,427 | |||
Summary of changes in the allowance for loan losses [Roll Forward] | |||||
Balance - Beginning of Period | 2,515 | 2,396 | |||
Provision for Loan Losses | 181 | 210 | |||
Loan Charge-Offs | 0 | (151) | |||
Recoveries | 53 | 0 | |||
Balance - End of Period | $ 2,749 | $ 2,455 | |||
Real Estate Loans [Member] | One- to Four-Family Residential [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 112,304 | 103,332 | |||
Real Estate Loans [Member] | Commercial [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 69,316 | 62,080 | 55,011 | ||
Real Estate Loans [Member] | Multi-Family Residential [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 15,451 | 15,246 | 15,845 | ||
Real Estate Loans [Member] | Land [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 24,317 | 19,866 | 23,666 | ||
Real Estate Loans [Member] | Construction [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 15,589 | 17,620 | 18,179 | ||
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 1,528 | 2,460 | |||
Real Estate Loans [Member] | Equity Lines of Credit [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 17,097 | 22,187 | |||
Real Estate Loans [Member] | Mortgage Loans [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 255,602 | 242,791 | |||
Commercial Loans [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 29,028 | 28,019 | 29,587 | ||
Consumer Loans [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 640 | 319 | $ 341 | ||
Consumer Loans [Member] | Loans on Savings Accounts [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 549 | 209 | |||
Consumer Loans [Member] | Automobile and Other Consumer Loans [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | 91 | 110 | |||
Consumer Loans [Member] | Consumer and Other Loans [Member] | |||||
Loan receivable [Abstract] | |||||
Gross Loans Receivable | $ 640 | $ 319 |
Loans Receivable, Credit Qualit
Loans Receivable, Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 | Mar. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | $ 285,270 | $ 271,129 | $ 268,147 |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 281,621 | 270,442 | |
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 3,269 | 650 | |
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 380 | 37 | |
Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | One- to Four-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 112,304 | 103,332 | |
Real Estate Loans [Member] | Commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 69,316 | 62,080 | 55,011 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 15,451 | 15,246 | 15,845 |
Real Estate Loans [Member] | Land [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 24,317 | 19,866 | 23,666 |
Real Estate Loans [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 15,589 | 17,620 | 18,179 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 1,528 | 2,460 | |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 17,097 | 22,187 | |
Real Estate Loans [Member] | Pass [Member] | One- to Four-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 112,044 | 103,207 | |
Real Estate Loans [Member] | Pass [Member] | Commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 68,712 | 61,542 | |
Real Estate Loans [Member] | Pass [Member] | Multi-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 15,451 | 15,246 | |
Real Estate Loans [Member] | Pass [Member] | Land [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 24,317 | 19,866 | |
Real Estate Loans [Member] | Pass [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 15,589 | 17,620 | |
Real Estate Loans [Member] | Pass [Member] | Equity and Second Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 1,528 | 2,460 | |
Real Estate Loans [Member] | Pass [Member] | Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 17,097 | 22,163 | |
Real Estate Loans [Member] | Special Mention [Member] | One- to Four-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 145 | 112 | |
Real Estate Loans [Member] | Special Mention [Member] | Commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 339 | 538 | |
Real Estate Loans [Member] | Special Mention [Member] | Multi-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Special Mention [Member] | Land [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Special Mention [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Special Mention [Member] | Equity and Second Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Special Mention [Member] | Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Substandard [Member] | One- to Four-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 115 | 13 | |
Real Estate Loans [Member] | Substandard [Member] | Commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 265 | 0 | |
Real Estate Loans [Member] | Substandard [Member] | Multi-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Substandard [Member] | Land [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Substandard [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Substandard [Member] | Equity and Second Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Substandard [Member] | Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 24 | |
Real Estate Loans [Member] | Doubtful [Member] | One- to Four-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Doubtful [Member] | Commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Doubtful [Member] | Multi-Family Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Doubtful [Member] | Land [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Doubtful [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Doubtful [Member] | Equity and Second Mortgage [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Real Estate Loans [Member] | Doubtful [Member] | Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Commercial Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 29,028 | 28,019 | 29,587 |
Commercial Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 26,243 | 28,019 | |
Commercial Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 2,785 | 0 | |
Commercial Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Commercial Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Consumer Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 640 | 319 | $ 341 |
Consumer Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 640 | 319 | |
Consumer Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Consumer Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | 0 | 0 | |
Consumer Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Gross loans receivable | $ 0 | $ 0 |
Loans Receivable, Aging Analysi
Loans Receivable, Aging Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 | Mar. 31, 2015 |
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | $ 2,930 | $ 3,320 | |
Current | 282,340 | 267,809 | |
Total Loans Receivable | 285,270 | 271,129 | $ 268,147 |
Recorded Investment > 90 Days and Accruing | 206 | 67 | |
30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 1,547 | 2,140 | |
60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 1,165 | 1,100 | |
Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 218 | 80 | |
Real Estate Loans [Member] | One- to Four-Family Residential [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 2,926 | 3,317 | |
Current | 109,378 | 100,015 | |
Total Loans Receivable | 112,304 | 103,332 | |
Recorded Investment > 90 Days and Accruing | 206 | 67 | |
Real Estate Loans [Member] | One- to Four-Family Residential [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 1,543 | 2,137 | |
Real Estate Loans [Member] | One- to Four-Family Residential [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 1,165 | 1,100 | |
Real Estate Loans [Member] | One- to Four-Family Residential [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 218 | 80 | |
Real Estate Loans [Member] | Commercial [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Current | 69,316 | 62,080 | |
Total Loans Receivable | 69,316 | 62,080 | 55,011 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Real Estate Loans [Member] | Commercial [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Commercial [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Commercial [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Multi-Family Residential [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Current | 15,451 | 15,246 | |
Total Loans Receivable | 15,451 | 15,246 | 15,845 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Real Estate Loans [Member] | Multi-Family Residential [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Multi-Family Residential [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Land [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Current | 24,317 | 19,866 | |
Total Loans Receivable | 24,317 | 19,866 | 23,666 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Real Estate Loans [Member] | Land [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Land [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Land [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Construction [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Current | 15,589 | 17,620 | |
Total Loans Receivable | 15,589 | 17,620 | 18,179 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Real Estate Loans [Member] | Construction [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Construction [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Construction [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Current | 1,528 | 2,460 | |
Total Loans Receivable | 1,528 | 2,460 | |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 4 | 0 | |
Current | 17,093 | 22,187 | |
Total Loans Receivable | 17,097 | 22,187 | |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 4 | 0 | |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Commercial Loans [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Current | 29,028 | 28,019 | |
Total Loans Receivable | 29,028 | 28,019 | 29,587 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Commercial Loans [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Commercial Loans [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Commercial Loans [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Consumer Loans [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 3 | |
Current | 640 | 316 | |
Total Loans Receivable | 640 | 319 | $ 341 |
Recorded Investment > 90 Days and Accruing | 0 | 0 | |
Consumer Loans [Member] | 30-59 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 3 | |
Consumer Loans [Member] | 60-89 Days Past Due [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | 0 | 0 | |
Consumer Loans [Member] | Greater Than 90 Days [Member] | |||
Aging analysis of past due loans segregated by class of loans [Abstract] | |||
Total Past Due | $ 0 | $ 0 |
Loans Receivable, Allowance for
Loans Receivable, Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2015 | |
Allowance for loan losses [Abstract] | |||||
Beginning Balances | $ 2,515 | $ 2,396 | $ 2,396 | ||
Charge-Offs | 0 | (151) | (181) | ||
Recoveries | 53 | 0 | 0 | ||
Current Provision | $ 90 | $ 90 | 181 | 210 | 300 |
Ending Balances | 2,749 | 2,455 | 2,749 | 2,455 | 2,515 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 2,749 | 2,455 | 2,749 | 2,455 | 2,515 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 285,270 | 268,147 | 285,270 | 268,147 | 271,129 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 3,649 | 755 | 3,649 | 755 | 687 |
Collectively | 281,621 | 267,392 | 281,621 | 267,392 | 270,442 |
Real Estate Loans [Member] | 1-4 Family Residential [Member] | |||||
Allowance for loan losses [Abstract] | |||||
Beginning Balances | 1,195 | 1,224 | 1,224 | ||
Charge-Offs | 0 | (151) | (181) | ||
Recoveries | 53 | 0 | 0 | ||
Current Provision | 251 | 152 | 152 | ||
Ending Balances | 1,499 | 1,225 | 1,499 | 1,225 | 1,195 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 1,499 | 1,225 | 1,499 | 1,225 | 1,195 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 112,304 | 98,923 | 112,304 | 98,923 | 103,332 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 260 | 126 | 260 | 126 | 125 |
Collectively | 112,044 | 98,797 | 112,044 | 98,797 | 103,207 |
Real Estate Loans [Member] | Commercial [Member] | |||||
Allowance for loan losses [Abstract] | |||||
Beginning Balances | 415 | 464 | 464 | ||
Charge-Offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Current Provision | (88) | (83) | (49) | ||
Ending Balances | 327 | 381 | 327 | 381 | 415 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 327 | 381 | 327 | 381 | 415 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 69,316 | 55,011 | 69,316 | 55,011 | 62,080 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 604 | 605 | 604 | 605 | 537 |
Collectively | 68,712 | 54,406 | 68,712 | 54,406 | 61,543 |
Real Estate Loans [Member] | Multi Family [Member] | |||||
Allowance for loan losses [Abstract] | |||||
Beginning Balances | 103 | 128 | 128 | ||
Charge-Offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Current Provision | (20) | (51) | (25) | ||
Ending Balances | 83 | 77 | 83 | 77 | 103 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 83 | 77 | 83 | 77 | 103 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 15,451 | 15,845 | 15,451 | 15,845 | 15,246 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 15,451 | 15,845 | 15,451 | 15,845 | 15,246 |
Real Estate Loans [Member] | Land [Member] | |||||
Allowance for loan losses [Abstract] | |||||
Beginning Balances | 154 | 168 | 168 | ||
Charge-Offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Current Provision | 47 | 16 | (14) | ||
Ending Balances | 201 | 184 | 201 | 184 | 154 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 201 | 184 | 201 | 184 | 154 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 24,317 | 23,666 | 24,317 | 23,666 | 19,866 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 24,317 | 23,666 | 24,317 | 23,666 | 19,866 |
Real Estate Loans [Member] | Construction [Member] | |||||
Allowance for loan losses [Abstract] | |||||
Beginning Balances | 146 | 105 | 105 | ||
Charge-Offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Current Provision | (10) | 45 | 41 | ||
Ending Balances | 136 | 150 | 136 | 150 | 146 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 136 | 150 | 136 | 150 | 146 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 15,589 | 18,179 | 15,589 | 18,179 | 17,620 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 15,589 | 18,179 | 15,589 | 18,179 | 17,620 |
Real Estate Loans [Member] | Home Equity Loans And Lines of Credit [Member] | |||||
Allowance for loan losses [Abstract] | |||||
Beginning Balances | 192 | 99 | 99 | ||
Charge-Offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Current Provision | (77) | 71 | 93 | ||
Ending Balances | 115 | 170 | 115 | 170 | 192 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 115 | 170 | 115 | 170 | 192 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 18,625 | 26,595 | 18,625 | 26,595 | 24,647 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 0 | 24 | 0 | 24 | 25 |
Collectively | 18,625 | 26,571 | 18,625 | 26,571 | 24,622 |
Commercial Loans [Member] | |||||
Allowance for loan losses [Abstract] | |||||
Beginning Balances | 305 | 202 | 202 | ||
Charge-Offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Current Provision | 72 | 61 | 103 | ||
Ending Balances | 377 | 263 | 377 | 263 | 305 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 377 | 263 | 377 | 263 | 305 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 29,028 | 29,587 | 29,028 | 29,587 | 28,019 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 2,785 | 0 | 2,785 | 0 | 0 |
Collectively | 26,243 | 29,587 | 26,243 | 29,587 | 28,019 |
Consumer Loans [Member] | |||||
Allowance for loan losses [Abstract] | |||||
Beginning Balances | 5 | 6 | 6 | ||
Charge-Offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Current Provision | 6 | (1) | (1) | ||
Ending Balances | 11 | 5 | 11 | 5 | 5 |
Evaluated for Impairment [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | 11 | 5 | 11 | 5 | 5 |
Loans Receivable [Abstract] | |||||
Ending Balances - Total | 640 | 341 | 640 | 341 | 319 |
Evaluated for Impairment, Ending Balances [Abstract] | |||||
Individually | 0 | 0 | 0 | 0 | 0 |
Collectively | $ 640 | $ 341 | $ 640 | $ 341 | $ 319 |
Loans Receivable, Loans Individ
Loans Receivable, Loans Individually Evaluated for Impairment (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2015 | |
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | $ 3,649,000 | $ 687,000 | |
Recorded Investment With No Allowance | 3,649,000 | 687,000 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 3,649,000 | 687,000 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 3,918,000 | 714,000 | |
Loan receivables on non-accrual loans | 0 | 0 | |
Interest income recognized on non-accrual loans | 0 | 0 | |
Estimated gross interest income | 776 | $ 2,700 | |
Real Estate Loans [Member] | One- to Four-Family Residential [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 260,000 | 125,000 | |
Recorded Investment With No Allowance | 260,000 | 125,000 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 260,000 | 125,000 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 271,000 | 133,000 | |
Real Estate Loans [Member] | Commercial [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 604,000 | 537,000 | |
Recorded Investment With No Allowance | 604,000 | 537,000 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 604,000 | 537,000 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 592,000 | 556,000 | |
Real Estate Loans [Member] | Multi-Family Residential [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment With No Allowance | 0 | 0 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Real Estate Loans [Member] | Land [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment With No Allowance | 0 | 0 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Real Estate Loans [Member] | Construction [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment With No Allowance | 0 | 0 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment With No Allowance | 0 | 0 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 0 | 25,000 | |
Recorded Investment With No Allowance | 0 | 25,000 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 0 | 25,000 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 25,000 | |
Commercial Loans [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 2,785,000 | 0 | |
Recorded Investment With No Allowance | 2,785,000 | 0 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 2,785,000 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 3,055,000 | 0 | |
Consumer Loans [Member] | |||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | |||
Unpaid Principal Balance | 0 | 0 | |
Recorded Investment With No Allowance | 0 | 0 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | $ 0 | $ 0 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Summary of Deposits [Abstract] | ||
Non-Interest Bearing | $ 44,090 | $ 45,024 |
NOW Accounts | 36,081 | 31,214 |
Money Market | 47,334 | 45,593 |
Passbook Savings | 26,407 | 18,435 |
Deposits in transaction accounts | 153,912 | 140,266 |
Certificates of Deposit | 136,741 | 145,972 |
Total Deposits | $ 290,653 | $ 286,238 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Calculation of earnings per share [Abstract] | ||||
Net income | $ 774 | $ 843 | $ 2,396 | $ 2,501 |
Weighted average shares outstanding - basic (in shares) | 1,851,000 | 1,970,000 | 1,892,000 | 1,991,000 |
Effect of dilutive common stock equivalents (in shares) | 63,000 | 54,000 | 66,000 | 54,000 |
Adjusted weighted average shares outstanding- diluted (in shares) | 1,914,000 | 2,024,000 | 1,958,000 | 2,045,000 |
Basic earnings per share (in dollars per share) | $ 0.42 | $ 0.43 | $ 1.27 | $ 1.26 |
Diluted earnings per share (in dollars per share) | $ 0.40 | $ 0.42 | $ 1.22 | $ 1.22 |
Outstanding options to purchase shares (in shares) | 304,952 | 222,933 | 263,014 | 226,011 |
Per share price of outstanding options (in dollars per share) | $ 17.79 | $ 14.77 | $ 16.88 | $ 14.71 |
Components of average outstanding common shares [Abstract] | ||||
Average common shares issued (in shares) | 3,062,000 | 3,062,000 | 3,062,000 | 3,062,000 |
Average unearned ESOP shares (in shares) | (137,000) | (148,000) | (140,000) | (152,000) |
Average unearned RRP shares (in shares) | (25,000) | (41,000) | (32,000) | (47,000) |
Average treasury shares (in shares) | (1,049,000) | (903,000) | (998,000) | (872,000) |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) | Oct. 26, 2015 | Mar. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Period of incentive stock options and non-qualified stock options, vested and exercisable | 5 years | |
Expected Term | 10 years | |
Incentive stock options and non-qualified stock options, vested and exercisable | 20.00% | |
Commencement period of incentive and non-qualified options | 1 year | |
Additional percentage vested on each successive anniversary | 20.00% | |
Number of Shares [Abstract] | ||
Granted (in shares) | 34,500 | |
2005 Recognition and Retention Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Aggregate number of shares of common stock (in shares) | 63,547 | |
Remaining shares under the plan (in shares) | 564 | |
Exchange ratio | 0.9110 | |
Termination date | Jun. 8, 2015 | |
2011 Recognition and Retention Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Aggregate number of shares of common stock (in shares) | 77,808 | |
Recognition Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares earned by recipients expressed in percentage of aggregate number of shares | 20.00% | |
Period of plan | 5 years | |
Period of cost recognized | 5 years | |
Compensation expense | $ 174,000 | |
2005 Stock Option Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Aggregate number of shares of common stock reserved for issuance (in shares) | 158,868 | |
Termination date | Jun. 8, 2015 | |
Period of incentive stock options and non-qualified stock options, vested and exercisable | 10 years | |
2011 Stock Option Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Aggregate number of shares of common stock reserved for issuance (in shares) | 194,522 | |
2014 Stock Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Percentage of shares available for grant | 25.00% | |
Compensation expense | $ 58,000 | |
Number of shares authorized under plan (in shares) | 150,000 | |
Aggregate number of shares of common stock reserved for issuance (in shares) | 112,500 | |
Stock incentive plan, vesting period | 5 years | |
2014 Stock Incentive Plan [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Aggregate number of shares of common stock (in shares) | 37,500 | |
2014 Stock Incentive Plan [Member] | Maximum [Member] | Unawarded Shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares authorized under plan (in shares) | 3,000 | |
Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock incentive plan, vesting period | 5 years | |
Number of Shares [Abstract] | ||
Granted (in shares) | 103,500 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Jun. 30, 2015 |
Related Party Transactions [Abstract] | ||
Loan made to directors and executive officers | $ 4 | $ 3.8 |
Fair Value Disclosures (Details
Fair Value Disclosures (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Financial Assets [Abstract] | ||
Securities Available-for-Sale | $ 42,486 | $ 44,885 |
Securities to be Held-to-Maturity | 1,509 | 2,010 |
Carrying Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and Cash Equivalents | 7,547 | 21,166 |
Securities Available-for-Sale | 42,486 | 44,885 |
Securities to be Held-to-Maturity | 1,509 | 2,010 |
Loans Held-for-Sale | 7,284 | 14,203 |
Loans Receivable | 282,365 | 268,427 |
Financial Liabilities [Abstract] | ||
Deposits | 290,653 | 268,238 |
Advances from FHLB | 27,227 | 38,411 |
Off-Balance Sheet Items [Abstract] | ||
Mortgage Loan Commitments | 247 | 290 |
Estimated Fair Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and Cash Equivalents | 7,547 | 21,166 |
Securities Available-for-Sale | 42,486 | 44,885 |
Securities to be Held-to-Maturity | 1,509 | 2,010 |
Loans Held-for-Sale | 7,284 | 14,203 |
Loans Receivable | 282,236 | 267,157 |
Financial Liabilities [Abstract] | ||
Deposits | 288,990 | 266,412 |
Advances from FHLB | 27,353 | 38,751 |
Off-Balance Sheet Items [Abstract] | ||
Mortgage Loan Commitments | $ 247 | $ 290 |
Fair Value Disclosures, Recurri
Fair Value Disclosures, Recurring (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Available for sale debt securities [Abstract] | ||
Fair Value | $ 42,486 | $ 44,885 |
Recurring [Member] | ||
Available for sale debt securities [Abstract] | ||
FHLMC | 245 | 284 |
FNMA | 29,027 | 27,807 |
GNMA | 13,214 | 16,794 |
Fair Value | 42,486 | 44,885 |
Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Available for sale debt securities [Abstract] | ||
FHLMC | 0 | 0 |
FNMA | 0 | 0 |
GNMA | 0 | 0 |
Fair Value | 0 | 0 |
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Available for sale debt securities [Abstract] | ||
FHLMC | 245 | 284 |
FNMA | 29,027 | 27,807 |
GNMA | 13,214 | 16,794 |
Fair Value | 42,486 | 44,885 |
Recurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Available for sale debt securities [Abstract] | ||
FHLMC | 0 | 0 |
FNMA | 0 | 0 |
GNMA | 0 | 0 |
Fair Value | $ 0 | $ 0 |