Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Jun. 30, 2017 | Sep. 19, 2017 | Dec. 31, 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 Public Float | $ 36.4 | ||
Entity Common Stock, Shares Outstanding | 1,927,053 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jun. 30, 2017 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
ASSETS | ||
Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of $8,212 and $2,529 for 2017 and 2016, Respectively) | $ 11,905 | $ 4,756 |
Securities Available-for-Sale | 36,935 | 50,173 |
Securities Held-to-Maturity (fair value of $27,989 and $2,349, Respectively) | 28,357 | 2,349 |
Loans Held-for-Sale | 13,631 | 11,919 |
Loans Receivable, Net of Allowance for Loan Losses of $3,729 and $2,845 for 2017 and 2016, Respectively | 312,772 | 290,827 |
Accrued Interest Receivable | 1,094 | 1,024 |
Premises and Equipment, Net | 12,219 | 12,366 |
Bank Owned Life Insurance | 6,668 | 6,523 |
Deferred Tax Asset | 1,601 | 984 |
Other Real Estate Owned | 540 | 0 |
Other Assets | 884 | 780 |
Total Assets | 426,606 | 381,701 |
LIABILITIES | ||
Deposits | 329,045 | 287,822 |
Advances from Borrowers for Taxes and Insurance | 698 | 716 |
Short-term Federal Home Loan Bank advances | 37,000 | 23,500 |
Long-term Federal Home Loan Bank advances | 11,907 | 24,165 |
Other Borrowings | 0 | 400 |
Other Accrued Expenses and Liabilities | 1,710 | 1,706 |
Total Liabilities | 380,360 | 338,309 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock - $.01 Par Value; 10,000,000 Shares Authorized; None Issued and Outstanding | 0 | 0 |
Common Stock - $.01 Par Value; 40,000,000 Shares Authorized; 1,953,066 and 1,967,955 Shares Issued and Outstanding at June 30, 2017 and 2016, Respectively | 23 | 23 |
Additional Paid-in Capital | 34,516 | 33,863 |
Unearned ESOP Stock | (1,215) | (1,331) |
Unearned RRP Trust Stock | (46) | (265) |
Retained Earnings | 13,320 | 11,018 |
Accumulated Other Comprehensive (Loss) Income | (352) | 84 |
Total Stockholders' Equity | 46,246 | 43,392 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 426,606 | $ 381,701 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
ASSETS | ||
Interest-Bearing Deposits with Other Banks | $ 8,212 | $ 2,529 |
Securities Held-to-Maturity, Fair Value | 27,989 | 2,349 |
Loans Receivable, Allowance for Loan Losses | $ 3,729 | $ 2,845 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, Authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred Stock, Issued (in shares) | 0 | 0 |
Preferred Stock, Outstanding (in shares) | 0 | 0 |
Common Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Authorized (in shares) | 40,000,000 | 40,000,000 |
Common Stock, Issued (in shares) | 1,953,066 | 1,967,955 |
Common Stock, Outstanding (in shares) | 1,953,066 | 1,967,955 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
INTEREST INCOME | ||
Loans, Including Fees | $ 15,763 | $ 14,628 |
Mortgage-Backed Securities | 1,059 | 763 |
Investment Securities | 34 | 11 |
Other Interest-Earning Assets | 36 | 56 |
Total Interest Income | 16,892 | 15,458 |
INTEREST EXPENSE | ||
Deposits | 2,356 | 2,329 |
Federal Home Loan Bank Borrowings | 433 | 263 |
Other Borrowings | 14 | 18 |
Total Interest Expense | 2,803 | 2,610 |
Net Interest Income | 14,089 | 12,848 |
PROVISION FOR LOAN LOSSES | 900 | 271 |
Net Interest Income after Provision for Loan Losses | 13,189 | 12,577 |
NON-INTEREST INCOME | ||
Gain on Sale of Loans | 2,775 | 2,492 |
Gain on Sale of Real Estate and Fixed Assets | 164 | 0 |
Income on Bank Owned Life Insurance | 145 | 157 |
Service Charges on Deposit Accounts | 759 | 559 |
Other Income | 50 | 46 |
Total Non-Interest Income | 3,893 | 3,254 |
NON-INTEREST EXPENSE | ||
Compensation and Benefits | 7,154 | 6,814 |
Occupancy and Equipment | 1,252 | 1,091 |
Franchise and Bank Shares Tax | 383 | 349 |
Advertising | 423 | 236 |
Data Processing | 611 | 562 |
Audit and Examination Fees | 245 | 246 |
Legal Fees | 495 | 412 |
Loan and Collection Expense | 327 | 281 |
Deposit Insurance Premiums | 142 | 207 |
Other Expenses | 640 | 612 |
Total Non-Interest Expense | 11,672 | 10,810 |
Income Before Income Taxes | 5,410 | 5,021 |
PROVISION FOR INCOME TAX EXPENSE | 1,758 | 1,644 |
Net Income | $ 3,652 | $ 3,377 |
EARNINGS PER SHARE: | ||
Basic (in dollars per share) | $ 2.01 | $ 1.80 |
Diluted (in dollars per share) | $ 1.91 | $ 1.74 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||
Net Income | $ 3,652 | $ 3,377 |
Other Comprehensive Loss, Net of Tax | ||
Unrealized Holding Loss Arising During the Period | (436) | (16) |
Total Comprehensive Income | $ 3,216 | $ 3,361 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-In Capital [Member] | Unearned ESOP Stock [Member] | Unearned RRP Trust Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Beginning Balance at Jun. 30, 2015 | $ 25 | $ 33,375 | $ (1,445) | $ (333) | $ 11,664 | $ 100 | $ 43,386 |
ESOP Compensation Earned | 0 | 144 | 114 | 0 | 0 | 0 | 258 |
Stock Options Exercised | 0 | 96 | 0 | 0 | 0 | 0 | 96 |
Distribution of RRP Trust Stock | 0 | 36 | 0 | 68 | 0 | 0 | 104 |
Dividends Paid | 0 | 0 | 0 | 0 | (660) | 0 | (660) |
Stock Options Vested | 0 | 212 | 0 | 0 | 0 | 0 | 212 |
Company Stock Purchased | (2) | 0 | 0 | 0 | (3,363) | 0 | (3,365) |
Net Income | 0 | 0 | 0 | 0 | 3,377 | 0 | 3,377 |
Other Comprehensive Loss, Net of Applicable Deferred Income Taxes | 0 | 0 | 0 | 0 | 0 | (16) | (16) |
Ending Balance at Jun. 30, 2016 | 23 | 33,863 | (1,331) | (265) | 11,018 | 84 | 43,392 |
Share Awards Earned | 0 | 154 | 0 | 0 | 0 | 0 | 154 |
ESOP Compensation Earned | 0 | 182 | 116 | 0 | 0 | 0 | 298 |
Stock Options Exercised | 0 | 61 | 0 | 0 | 0 | 0 | 61 |
Distribution of RRP Trust Stock | 0 | 9 | 0 | 219 | 0 | 0 | 228 |
Dividends Paid | 0 | 0 | 0 | 0 | (705) | 0 | (705) |
Stock Options Vested | 0 | 247 | 0 | 0 | 0 | 0 | 247 |
Company Stock Purchased | 0 | 0 | 0 | 0 | (645) | 0 | (645) |
Net Income | 0 | 0 | 0 | 0 | 3,652 | 0 | 3,652 |
Other Comprehensive Loss, Net of Applicable Deferred Income Taxes | 0 | 0 | 0 | 0 | 0 | (436) | (436) |
Ending Balance at Jun. 30, 2017 | $ 23 | $ 34,516 | $ (1,215) | $ (46) | $ 13,320 | $ (352) | $ 46,246 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ 3,652 | $ 3,377 |
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities | ||
Gain on Sale of Loans | (2,775) | (2,492) |
Net Amortization and Accretion on Securities | 36 | 18 |
Amortization of Deferred Loan Fees | (77) | (72) |
Provision for Loan Losses | 900 | 271 |
Depreciation of Premises and Equipment | 505 | 441 |
Gain on Sale of Real Estate and Fixed Assets | (164) | 0 |
ESOP Compensation Expense | 298 | 258 |
Deferred Income Tax Benefit | (393) | (151) |
Stock Option Expense | 247 | 212 |
Recognition and Retention Plan Expense | 147 | 232 |
Increase in Cash Surrender Value on Bank Owned Life Insurance | (145) | (157) |
Bad Debt Recovery | 14 | 59 |
Share Awards Expense | 152 | 92 |
Changes in Assets and Liabilities: | ||
Origination and Purchase of Loans Held-for-Sale | (112,883) | (99,012) |
Sale and Principal Repayments on Loans Held-for-Sale | 113,946 | 103,787 |
Accrued Interest Receivable | (71) | (97) |
Other Operating Assets | (101) | 57 |
Other Operating Liabilities | 87 | 229 |
Net Cash Provided By Operating Activities | 3,375 | 7,052 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Loan Originations and Principal Collections, Net | (22,866) | (22,706) |
Deferred Loan Fees Collected | 110 | 48 |
Acquisition of Premises and Equipment | (671) | (2,620) |
Improvements to Real Estate Owned Prior to Disposition | (90) | 0 |
Activity in Available-for-Sale Securities: | ||
Principal Payments on Mortgage-Backed Securities | 12,564 | 11,392 |
Purchases | 0 | (16,722) |
Activity in Held-to-Maturity Securities: | ||
Principal Payments on Mortgage-Backed Securities | 1,654 | 0 |
Redemption Proceeds | 0 | 509 |
Purchases | (27,684) | (848) |
Net Cash Used In Investing Activities | (36,983) | (30,947) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net Increase in Deposits | 41,223 | 1,584 |
Proceeds from Advances from Federal Home Loan Bank | 776,501 | 703,700 |
Repayments of Advances from Federal Home Loan Bank | (775,259) | (694,446) |
Dividends Paid | (705) | (660) |
Company Stock Purchased | (645) | (3,353) |
Net (Increase) Decrease in Advances from Borrowers for Taxes and Insurance | (19) | 139 |
Proceeds from Other Bank Borrowings | 300 | 2,200 |
Repayment of Other Bank Borrowings | (700) | (1,800) |
Proceeds from Stock Options Exercised | 61 | 85 |
Recognition and Retention Plan Share Distributions | 0 | 36 |
Net Cash Provided by (Used In) Financing Activities | 40,757 | 7,485 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 7,149 | (16,410) |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 4,756 | 21,166 |
CASH AND CASH EQUIVALENTS, END OF YEAR | 11,905 | 4,756 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Interest Paid on Deposits and Borrowed Funds | 2,778 | 2,612 |
Income Taxes Paid | 2,114 | 1,762 |
Market Value Adjustment for Loss on Securities | (660) | (24) |
Loan Originations to Finance Sale of Real Estate | $ 3,782 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 1. Summary of Significant Accounting Policies Nature of Operations On December 22, 2010, Home Federal Mutual Holding Company completed its second step conversion from the mutual holding company form of organization to the fully public stock holding company structure pursuant to a Plan of Conversion and Reorganization. Upon completion of the conversion, Home Federal Bancorp, Inc. of Louisiana, a newly formed Louisiana chartered corporation (the Company), became the holding company for Home Federal Bank (the Bank), and Home Federal Mutual Holding Company of Louisiana and Home Federal Bancorp, Inc. of Louisiana, a federally chartered corporation, (the Mid-Tier Company) ceased to exist. As part of the conversion, all outstanding shares of the Mid-Tier Company common stock (other than those owned by Home Federal Mutual Holding Company) were converted into the right to receive 0.9110 of a share of the newly formed Home Federal Bancorp, Inc. of Louisiana common stock resulting in approximately 1,100,609 shares issued in the exchange and cash in lieu of fractional shares. In addition, a total of 1,945,220 shares of common stock, par value $0.01 per share, of Home Federal Bancorp, Inc. of Louisiana were sold in subscription, community, and syndicated community offerings to certain depositors and borrowers of the Bank, the Bank’s Employee Stock Ownership Plan, and other investors for $10.00 per share, or $19.5 million in aggregate. Treasury stock held was cancelled in the conversion. The net proceeds of the offering were approximately $18.0 million after offering expenses. 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 Bank provides financial services to individuals, corporate entities, and other organizations through the origination of loans and the acceptance of deposits in the form of passbook savings, certificates of deposit, and demand deposit accounts. Services are provided by six branch offices, four of which are located in Shreveport, Louisiana and two in Bossier City, Louisiana. The Bank’s home office is located in Shreveport, Louisiana. The Bank is subject to competition from other financial institutions and to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. Basis of Presentation and Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Home Federal Bank. All significant intercompany balances and transactions have been eliminated. Use In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting periods. 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 and deferred taxes. Significant Most of the Company’s activities are provided to customers of the Bank by six branch offices, four of which are located in the city of Shreveport, Louisiana and two in Bossier City, Louisiana. The area served by the Bank is primarily the Shreveport-Bossier City metropolitan area; however, loan and deposit customers are found dispersed in a wider geographical area covering much of northwest Louisiana. 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 have an original maturity date of ninety days or less. At June 30, 2017 and 2016, cash and cash equivalents consisted of the following: 2017 2016 (In Thousands) Cash on Hand $ 871 $ 2,027 Demand Deposits at Other Institutions 5,259 2,529 Federal Funds Sold 5,775 200 Total $ 11,905 $ 4,756 Securities Securities are being accounted for in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 320, Investments - Debt and Equity Securities. Investments in non-marketable 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 cost, adjusted for amortization of the related premiums, and accretion of discounts, using the interest method. 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. The Company held no trading securities as of June 30, 2017 and 2016. 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 Company 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 non-refundable 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 discounts are 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 uncollectibility 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 fair value of the collateral of the loan. If the 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. A loan is considered a troubled debt restructuring (“TDR”) if the Company, for economic or legal reasons related to a debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Concessions granted under a TDR typically involve a temporary or permanent reduction in payments or interest rate or an extension of a loan’s stated maturity date at less than a current market rate of interest. Loans identified as TDRs are designated as impaired. 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 known and inherent losses in the existing loan portfolio both probable and reasonable to estimate. 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 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. Estimated useful lives are as follows: Buildings and Improvements 10 - 40 Years Furniture and Equipment 3 - 10 Years Bank-Owned Life Insurance The Company has purchased life insurance contracts on the lives of certain key employees. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in non-interest income. Income Taxes The Company and its wholly-owned subsidiary file a consolidated federal income tax return on a fiscal year basis. Each entity will pay 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. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable. The Company follows the provisions of the Income Taxes 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. Earnings per Share Earnings per share are computed based upon the weighted average number of common shares outstanding during the year. Non-Direct Response Advertising The Company expenses all advertising costs, except for direct-response advertising, as incurred. Non-direct response advertising costs were $423,000 and $236,000 for the years ended June 30, 2017 and 2016, respectively. In the event the Company incurs expense for material direct-response advertising, it will be amortized over the estimated benefit period. Direct-response advertising consists of advertising whose primary purpose is to elicit sales to customers who could be shown to have responded specifically to the advertising and results in probable future benefits. For the years ended June 30, 2017 and 2016, the Company did not incur any amount of direct-response advertising. Stock-Based Compensation GAAP requires all share-based payments to employees, including grants of employee stock options and recognition and retention share awards, to be recognized as expense in the statement of operations based on their fair values. The amount of compensation is measured at the fair value of the options or recognition and retention share awards when granted, and this cost is expensed over the required service period, which is normally the vesting period of the options or recognition and retention awards. This guidance applies to awards granted or modified after January 1, 2006, or any unvested awards outstanding prior to that date. Reclassification Certain financial statement balances included in the prior year consolidated financial statements have been reclassified to conform to the current year presentation. Comprehensive Income Accounting principles generally 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 c b s (loss). The components of other comprehensive income (loss) 2017 2016 (In Thousands) Unrealized Holding Loss on Available-for-Sale Securities $ (660 ) $ (24 ) Tax Effect 224 8 Net-of-Tax Amount $ (436 ) $ (16 ) The components of accumulated other comprehensive income, included in stockholders’ equity, are as follows: 2017 2016 (In Thousands) Net Unrealized (Loss) Gain on Securities Available-for-Sale $ (533 ) $ 128 Tax Effect 181 (44 ) Net-of-Tax Amount $ (352 ) $ 84 Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers. The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of ASU 2014-09 requires an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration of which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of ASU 2014-09 making it effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. In April 2016, the FASB issued ASU 2016-10 which does not change the core principle of the guidance in Topic 606. The amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. In May 2016, the FASB issued ASU 2016-12 which does not change the core principle of the guidance in Topic 606. The amendments in this Update affect only certain narrow aspects of Topic 606. Management is currently assessing the impact to the Company’s consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. This ASU eliminates the requirement to retrospectively account for changes to provisional amounts initially recorded in a business combination. ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined, including the effect of the change in provisional amount as if the accounting had been completed at the acquisition date. The provisions of this ASU are effective for fiscal years beginning after December 15, 2015, and should be applied prospectively to adjustments to provisional amounts that occur after the effective date. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, which simplifies the presentation of deferred taxes by requiring deferred tax assets and liabilities to be classified as non-current on the balance sheet. This update is effective for fiscal years beginning after December 15, 2017. The guidance may be adopted prospectively or retrospectively and early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments. The amendments in this Update supersede the guidance to classify equity securities with readily determinable fair values into different categories and require equity securities to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of impairment. The amendments in this Update also simplify the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. In addition, the amendments in this Update exempt all entities that are not public business entities from disclosing fair value information for financial instruments measured at amortized cost. In addition, for public business entities, the amendments supersede the requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required to be disclosed for financial instruments measured at amortized cost on the balance sheet. The amendments in this Update require public business entities that are required to disclose fair value of financial instruments measured at amortized cost on the balance sheet to measure that fair value using the exit price notion consistent with Topic 820, 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. For public business entities, 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 standard is not expected to have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. From the lessee’s perspective, the new standard establishes a right-of-use (ROU) model that requires a lessee to record ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting pattern of expense recognition in the income statement for a lessee. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This Update is being issued as part of the Simplification Initiative. The areas of simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some areas only apply to nonpublic entities. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this Update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public business entities that are SEC filers, the amendments in this Update are effective for fiscal years beginning after December 15, 2019, including interim periods with those fiscal years. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments – Equity Method and Joint Ventures Revenue from Contracts with Customers Leases Financial Instruments-Credit Losses In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation |
Securities
Securities | 12 Months Ended |
Jun. 30, 2017 | |
Securities [Abstract] | |
Securities | Note 2. Securities The amortized cost and fair value of securities, with gross unrealized gains and losses, follows: June 30, 2017 Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Debt Securities FHLMC Mortgage-Backed Certificates $ 9,140 $ 5 $ 297 $ 8,848 FNMA Mortgage-Backed Certificates 19,986 256 285 19,957 GNMA Mortgage-Backed Certificates 8,342 3 215 8,130 Total Debt Securities 37,468 264 797 36,935 Total Securities Available-for-Sale $ 37,468 $ 264 $ 797 $ 36,935 Securities Held-to-Maturity Debt Securities FNMA Mortgage-Backed Securities $ 25,558 $ 2 $ 370 $ 25,190 Equity Securities (Non-Marketable) 25,488 Shares – Federal Home Loan Bank 2,549 -- -- 2,549 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,799 -- -- 2,799 Total Securities Held-to-Maturity $ 28,357 $ 2 $ 370 $ 27,989 June 30, 2016 Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Debt Securities FHLMC Mortgage-Backed Certificates $ 10,928 $ 12 $ 147 $ 10,793 FNMA Mortgage-Backed Certificates 26,610 613 -- 27,223 GNMA Mortgage-Backed Certificates 12,507 4 354 12,157 Total Debt Securities 50,045 629 501 50,173 Total Securities Available-for-Sale $ 50,045 $ 629 $ 501 $ 50,173 Securities Held-to-Maturity Equity Securities (Non-Marketable) 20,989 Shares – Federal Home Loan Bank $ 2,099 $ -- $ -- $ 2,099 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,349 -- -- 2,349 Total Securities Held-to-Maturity $ 2,349 $ -- $ -- $ 2,349 The amortized cost and fair value of securities by contractual maturity at June 30, 2017, follows: Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In Thousands) Debt Securities Within One Year or Less $ 10 $ 11 $ -- $ -- One through Five Years 60 61 -- -- After Five through Ten Years 43 43 -- -- Over Ten Years 37,355 36,820 25,558 25,190 37,468 36,935 25,558 25,190 Other Equity Securities -- -- 2,799 2,799 Total $ 37,468 $ 36,935 $ 28,357 $ 27,989 There were no securities sold during the years ended June 30, 2017 and 2016. Information pertaining to securities with gross unrealized losses at June 30, 2017 and 2016, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: June 30, 2017 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In Thousands) Securities Available-for-Sale Debt Securities Mortgage-Backed Securities $ 144 $ 10,278 $ 653 $ 21,719 Marketable Equity Securities -- -- -- -- Total Securities Available-for-Sale $ 144 $ 10,278 $ 653 $ 21,719 June 30, 2016 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In Thousands) Securities Available-for-Sale Debt Securities Mortgage-Backed Securities $ 147 $ 17,852 $ 354 $ 12,066 Marketable Equity Securities -- -- -- -- Total Securities Available-for-Sale $ 147 $ 17,852 $ 354 $ 12,066 The unrealized losses on the Company’s investment in mortgage-backed securities at June 30, 2017 and 2016 were caused by interest rate changes. The contractual cash flows of these investments are guaranteed by agencies of the U.S. government. Accordingly, it is expected that these securities would not be settled at a price less than the amortized cost of the Company’s investment. Because the decline in market value is attributable to changes in interest rates and not credit quality and because the Company has the ability and intent to hold these investments until a recovery of fair value, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2017. At June 30, 2017 and 2016, securities with a carrying value of $303,000 and $1.2 million, respectively, were pledged to secure public deposits, and securities and mortgage loans with a carrying value of $145.7 million and $127.0 million, respectively, were pledged to secure FHLB advances. |
Loans Receivable
Loans Receivable | 12 Months Ended |
Jun. 30, 2017 | |
Loans Receivable [Abstract] | |
Loans Receivable | Note 3. Loans Receivable Loans receivable at June 30, 2017 and 2016, are summarized as follows: 2017 2016 (In Thousands) Loans Secured by Mortgages on Real Estate One-to-Four Family Residential $ 125,306 $ 118,035 Commercial 77,945 69,197 Multi-Family Residential 21,281 20,661 Land 25,038 24,308 Construction 9,529 14,442 Equity and Second Mortgage 1,710 1,526 Equity Lines of Credit 20,976 17,290 Total Mortgage Loans 281,785 265,459 Commercial Loans 34,429 27,886 Consumer Loans Loans on Savings Accounts 420 404 Other Consumer Loans 63 86 Total Consumer Other Loans 483 490 Total Loans 316,697 293,835 Less: Allowance for Loan Losses (3,729 ) (2,845 ) Unamortized Loan Fees (196 ) (163 ) Net Loans Receivable $ 312,772 $ 290,827 An analysis of the allowance for loan losses follows: 2017 2016 (In Thousands) Balance - Beginning of Year $ 2,845 $ 2,515 Provision for Loan Losses 900 271 Recoveries 14 59 Loan Charge-Offs (30 ) -- Balance - End of Year $ 3,729 $ 2,845 Fixed rate loans receivable, as of June 30, 2017, are scheduled to mature and adjustable rate loans are scheduled to re-price as follows (in thousands) Under One Year Over One to Five Years Over Five to Ten Years Over Ten Years Total Loans Secured by One-to-Four (In Thousands) Family Residential Fixed Rate $ 15,145 $ 35,540 $ 14,944 $ 36,108 $ 101,737 Adjustable Rate 1,556 7,135 7,288 7,590 23,569 Other Loans Secured by Real Estate Fixed Rate 12,604 46,991 32,293 7,261 99,149 Adjustable Rate 57,233 97 -- -- 57,330 All Other Loans Fixed Rate 2,259 12,814 3,163 -- 18,236 Adjustable Rate 16,676 -- -- -- 16,676 Total $ 105,473 $ 102,577 $ 57,688 $ 50,959 $ 316,697 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 a 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: Pass - Loans classified as pass are well protected by the current net worth or paying capacity of the obligor or by the fair value, less cost to acquire and sell the underlying collateral in a timely manner. Pass Watch – Loans are considered marginal, meaning some weakness has been identified which could cause future impairment of repayment. However, these relationships are currently protected from any apparent loss by collateral. 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 which 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 June 30, 2017 and 2016: June 30, 2017 Pass Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 124,450 $ 303 $ 553 $ -- $ 125,306 Commercial 77,690 -- 255 -- 77,945 Multi-Family Residential 21,281 -- -- -- 21,281 Land 24,915 123 -- -- 25,038 Construction 9,232 297 -- -- 9,529 Equity and Second Mortgage 1,710 -- -- -- 1,710 Equity Lines of Credit 20,976 -- -- -- 20,976 Commercial Loans 31,916 -- 2,503 -- 34,429 Consumer Loans 483 -- -- -- 483 Total $ 312,653 $ 723 $ 3,311 $ -- $ 316,697 June 30, 2016 Pass Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 117,881 $ 40 $ 114 $ -- $ 118,035 Commercial 68,899 30 268 -- 69,197 Multi-Family Residential 20,661 -- -- -- 20,661 Land 23,753 555 -- -- 24,308 Construction 14,442 -- -- -- 14,442 Equity and Second Mortgage 1,526 -- -- -- 1,526 Equity Lines of Credit 17,290 -- -- -- 17,290 Commercial Loans 25,896 -- 1,990 -- 27,886 Consumer Loans 490 -- -- -- 490 Total $ 290,838 $ 625 $ 2,372 $ -- $ 293,835 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. An aging analysis of past due loans, segregated by class of loans, as of June 30, 2017 and 2016, is as follows: June 30, 2017 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 1,650 $ 350 $ 662 $ 2,662 $ 122,644 $ 125,306 $ 181 Commercial 8 -- -- 8 77,937 77,945 -- Multi-Family Residential -- -- -- -- 21,281 21,281 -- Land -- -- -- -- 25,038 25,038 -- Construction -- -- -- -- 9,529 9,529 -- Equity and Second Mortgage -- -- -- -- 1,710 1,710 -- Equity Lines of Credit 194 -- 4 198 20,778 20,976 4 Commercial Loans -- -- 2,503 2,503 31,926 34,429 -- Consumer Loans -- -- -- -- 483 483 -- Total $ 1,852 $ 350 $ 3,169 $ 5,371 $ 311,326 $ 316,697 $ 185 June 30, 2016 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 2,646 $ 1,674 $ 114 $ 4,434 $ 113,601 $ 118,035 $ 101 Commercial -- -- -- -- 69,197 69,197 -- Multi-Family Residential -- -- -- -- 20,661 20,661 -- Land -- 555 -- 555 23,753 24,308 -- Construction -- -- -- -- 14,442 14,442 -- Equity and Second Mortgage -- -- -- -- 1,526 1,526 -- Equity Lines of Credit 78 15 -- 93 17,197 17,290 -- Commercial Loans -- -- -- -- 27,886 27,886 -- Consumer Loans -- -- -- -- 490 490 -- Total $ 2,724 $ 2,244 $ 114 $ 5,082 $ 288,753 $ 293,835 $ 101 The allowance for loan losses and recorded investment in loans for the year ended June 30, 2017 and 2016 was as follows: Real Estate Loans June 30, 2017 Residential Commercial Multi- Family Land Construction Other Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,517 $ 321 $ 111 $ 201 $ 126 $ 117 $ 444 $ 8 $ 2,845 Charge-Offs -- -- -- (16 ) -- (14 ) -- -- (30 ) Recoveries 14 -- -- -- -- -- -- -- 14 Current Provision 291 32 (38 ) 18 21 39 535 2 900 Ending Balances $ 1,822 $ 353 $ 73 $ 203 $ 147 $ 142 $ 979 $ 10 $ 3,729 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,822 353 73 203 147 142 979 10 3,729 Loans Receivable: Ending Balances - Total $ 125,306 $ 77,945 $ 21,281 $ 25,038 $ 9,529 $ 22,686 $ 34,429 $ 483 $ 316,697 Ending Balances: Evaluated for Impairment: Individually 856 255 -- 123 297 -- 2,513 -- 4,044 Collectively $ 124,450 $ 77,690 $ 21,281 $ 24,915 $ 9,232 $ 22,686 $ 31,916 $ 483 $ 312,653 Real Estate Loans June 30, 2016 Residential Commercial Multi- Family Land Construction Other 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 59 -- -- -- -- -- -- -- 59 Current Provision 263 (94 ) 8 47 (20 ) (75 ) 139 3 271 Ending Balances $ 1,517 $ 321 $ 111 $ 201 $ 126 $ 117 $ 444 $ 8 $ 2,845 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,517 321 111 201 126 117 444 8 2,845 Loans Receivable: Ending Balances – Total $ 118,035 $ 69,197 $ 20,661 $ 24,308 $ 14,442 $ 18,816 $ 27,886 $ 490 $ 293,835 Ending Balances: Evaluated for Impairment: Individually 154 298 -- 555 -- -- 1,990 -- 2,997 Collectively $ 117,881 $ 68,899 $ 20,661 $ 23,753 $ 14,442 $ 18,816 $ 25,896 $ 490 $ 290,838 The following tables present loans individually evaluated for impairment, segregated by class of loans, as of June 30, 2017 and 2016: June 30, 2017 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 $ 856 $ 856 $ -- $ 856 $ -- $ 861 Commercial 255 255 -- 255 -- 261 Multi-Family Residential -- -- -- -- -- -- Land 123 123 -- 123 -- 125 Construction 297 297 -- 297 -- 299 Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit -- -- -- -- -- -- Commercial Loans 2,513 2,513 -- 2,513 -- 2,649 Consumer Loans -- -- -- -- -- -- Total $ 4,044 $ 4,044 $ -- $ 4,044 $ -- $ 4,195 June 30, 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 $ 154 $ 154 $ -- $ 154 $ -- $ 162 Commercial 298 298 -- 298 -- 274 Multi-Family Residential -- -- -- -- -- -- Land 555 555 -- 555 -- 586 Construction -- -- -- -- -- -- Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit -- -- -- -- -- -- Commercial Loans 1,990 1,990 -- 1,990 -- 2,460 Consumer Loans -- -- -- -- -- -- Total $ 2,997 $ 2,997 $ -- $ 2,997 $ -- $ 3,482 A troubled debt restructuring (“TDR”) is a restructuring of a debt made by the Company to a debtor for economic or legal reasons related to the debtor’s financial difficulties that it would not otherwise consider. The Company grants the concession in an attempt to protect as much of its investment as possible. Information about the Company’s TDRs is as follows (in thousands): June 30, 2017 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial business $ - $ 1,717 $ 1,717 $ 1,717 June 30, 2016 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial business $ 1,989 $ - $ - $ 1,989 During the year ended June 30, 2017, there was two loan relationships with a pre-modification balance of $4.7 million identified as a TDR after conversion of the loans’ interest rates and payment term modifications. These TDRs subsequently defaulted on the modified terms and totaled $2.9 million at the date they were converted to other real estate owned. During the year ended June 30, 2016, there was one loan relationship with a pre-modification balance of $2.0 million identified as a TDR after conversion of the loans to interest only for a limited amount of time. This one TDR subsequently defaulted on the modified terms and totaled $1.9 million at June 30, 2016. For purposes of the determination of an allowance for loan losses on these TDRs, as an identified TDR, the Company considers a loss probable on the loan and, as a result, the loan is reviewed for specific impairment in accordance with the Company’s allowance for loan loss methodology. If it is determined losses are probable on such TDRs, either because of delinquency or other credit quality indicator, the Company establishes specific reserves for these loans. For each of the years ended June 30, 2017 and 2016, approximately $79,000 and $1,000, respectively, of interest was foregone on non-accrual loans. Impaired loans consisted of non-accruing loans at June 30, 2017 and 2016, and TDRs at June 30, 2017 and 2017 2016 (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 317 $ 13 Commercial -- -- Multi-Family Residential -- -- Land -- -- Construction -- -- Equity and Second Mortgage -- -- Equity Lines of Credit -- -- Commercial Loans 2,503 1,990 Consumer Loans -- -- Total $ 2,820 $ 2,003 |
Accrued Interest Receivable
Accrued Interest Receivable | 12 Months Ended |
Jun. 30, 2017 | |
Accrued Interest Receivable [Abstract] | |
Accrued Interest Receivable | Note 4. Accrued Interest Receivable Accrued interest receivable at June 30, 2017 and 2016 consisted of the following: 2017 2016 (In Thousands) Accrued Interest on: Mortgage Loans $ 760 $ 872 Other Loans 215 58 Investments 3 3 Mortgage-Backed Securities 116 91 Total $ 1,094 $ 1,024 |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Jun. 30, 2017 | |
Premises and Equipment [Abstract ] | |
Premises and Equipment | Note 5. Premises and Equipment A summary of the cost and accumulated depreciation of premises and equipment follows: 2017 2016 (In Thousands) Land $ 3,746 $ 4,043 Buildings 8,494 8,328 Equipment 1,447 1,368 Construction in Progress 1,307 926 14,994 14,665 Accumulated Depreciation (2,775 ) (2,299 ) Total $ 12,219 $ 12,366 Depreciation expense charged against operations for the years ended June 30, 2017 and 2016 was $505,000 and $441,000, respectively. |
Deposits
Deposits | 12 Months Ended |
Jun. 30, 2017 | |
Deposits [Abstract] | |
Deposits | Note 6. Deposits Deposits at June 30, 2017 and 2016 are summarized as follows: Weighted Average Rate at Weighted Average Rate at 2017 2016 6/30/2017 6/30/2016 Amount Percent Amount Percent (Dollars in Thousands) Non-Interest Bearing 0.00 % 0.00 % $ 54,420 16.54 % $ 39,280 13.65 % NOW Accounts 0.55 % 0.58 % 34,500 10.48 37,761 13.12 Money Market 0.36 % 0.32 % 42,439 12.90 49,251 17.11 Passbook Savings 0.52 % 0.42 % 35,050 10.65 29,033 10.09 166,409 50.57 155,325 53.97 Certificates of Deposit 1.37 % 1.26 % 162,636 49.43 132,497 46.03 Total Deposits $ 329,045 100.00 % $ 287,822 100.00 % The composition of certificates of deposit accounts by interest rate is as follows: 2017 2016 Amount Percent Amount Percent (Dollars in Thousands) 0.00% to 0.99% $ 28,293 17.40 % $ 46,544 35.13 % 1.00% to 1.99% 123,037 75.65 70,606 53.29 2.00% to 2.99% 11,306 6.95 14,961 11.29 3.00% to 3.99% -- -- 386 0.29 Total Deposits $ 162,636 100.00 % $ 132,497 100.00 % Maturities of certificates of deposit accounts at June 30, 2017 are scheduled as follows: Year Ending June 30, Amount Percent Weighted Average Rate (Dollars in Thousands) 2018 $ 68,488 42.11 % 1.02 % 2019 32,101 19.74 1.38 2020 36,332 22.34 1.74 2021 11,901 7.32 1.62 2022 13,017 8.00 1.93 2023 797 0.49 1.98 Total $ 162,636 100.00 % 1.37 % Interest expense on deposits for the years ended June 30, 2017 and 2016 was as follows: 2017 2016 (In Thousands) NOW and Money Market $ 335 $ 431 Passbook Savings 160 93 Certificates of Deposit 1,861 1,805 Total $ 2,356 $ 2,329 The aggregate amount of time deposits in denominations of $100,000 or more at June 30, 2017 and 2016 was $113.2 million and $85.7 million, respectively . At June 30, 2017 and 2016, the Bank had brokered certificates of deposit totaling $11.5 and $8.2 million, respectively. The brokered certificates of deposit are callable by the Bank after twelve months. |
Advances from Federal Home Loan
Advances from Federal Home Loan Bank of Dallas | 12 Months Ended |
Jun. 30, 2017 | |
Advances from Federal Home Loan Bank of Dallas [Abstract] | |
Advances from Federal Home Loan Bank of Dallas | Note 7. Advances from Federal Home Loan Bank of Dallas Pursuant to collateral agreements with the Federal Home Loan Bank of Dallas (FHLB), advances are secured by a blanket floating lien on first mortgage loans. Total interest expense recognized amounted to $433,000 and $263,000 for fiscal years 2017 and 2016, respectively. Advances at June 30, 2017 and 2016 consisted of the following: Advance Total Contract Rate 2017 2016 (In Thousands) 0.00% to 0.99% $ 5,000 $ 41,500 1.00% to 1.99% 42,000 4,000 2.00% to 2.99% -- -- 3.00% to 3.99% -- -- 4.00% to 4.99% 1,907 2,165 Total $ 48,907 $ 47,665 Maturities of advances at June 30, 2017 are as follows (in thousands): Year Ending June 30, Amount 2018 $ 37,270 2019 5,282 2020 5,295 2021 193 2022 35 Thereafter 832 Total $ 48,907 |
Other Borrowings
Other Borrowings | 12 Months Ended |
Jun. 30, 2017 | |
Other Borrowings [Abstract] | |
Other Borrowings | Note 8. Other Borrowings At June 30, 2017 and 2016, the Company had available a $3.0 million line of credit agreement with First National Bankers Bank with the latest line maturing June 29, 2018. The line is secured by 100 shares of the subsidiary Bank’s common stock and bears interest at an initial rate of 3.5%. At June 30, 2017, there were no amounts drawn on this line of credit. At June 30, 2016, there was $400,000 drawn on this line of credit. Interest expense amounted to $14,000 and $18,000 for the years ended June 30, 2017 and 2016, respectively. |
Commitments
Commitments | 12 Months Ended |
Jun. 30, 2017 | |
Commitments [Abstract] | |
Commitments | Note 9. Commitments Lease Commitments The Bank leases property for two branch facilities expiring in various years through May 2021. Future minimum rental payments resulting from the non-cancelable term of these leases are as follows (in thousands) Year Ending June 30, Amount 2018 $ 78 2019 63 2020 52 2021 47 Total $ 240 Total rent expense paid under the terms of these leases for the years ended June 30, 2017 and 2016 amounted to $84,000 and $81,000, respectively. Contractual Commitment The Bank has an agreement with a third-party to provide on-line data processing services. The agreement, which expires May 31, 2019, contains minimum monthly service charges of $19,548. At the end of this term, the agreement will automatically continue for successive periods of five years unless terminated upon written notice given at least six months prior to the end of the present term. The future minimum commitments for the on-line processing services are as follows (in thousands) Year Ending June 30, Amount (In Thousands) 2018 $ 235 2019 215 Total $ 450 Employment Contracts The Company and the Bank have employment contracts with certain key employees. These contracts provide for compensation and termination benefits. The future minimum commitments for employment contracts are as follows (in thousands) Year Ending June 30, Amount (In Thousands) 2018 $ 274 2019 97 Total $ 371 Letters of Credit At June 30, 2017, the Company had secured letters of credit in the aggregate amount of $21.7 million outstanding with the Federal Home Loan Bank, all expiring within one year. These letters of credit were issued to secure public body deposits. There were no outstanding borrowings associated with these letters of credit at June 30, 2017. |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2017 | |
Income Taxes [Abstract] | |
Income Taxes | Note 10. Income Taxes The Company and its subsidiary file consolidated federal income tax returns. The current provision for federal and state income taxes is calculated on pretax accounting income adjusted by items considered to be permanent differences between book and taxable income. Income tax expense for the years ended June 30, 2017 and 2016 is summarized as follows: 2017 2016 (In Thousands) Current $ 2,151 $ 1,795 Deferred (393 ) (151 ) Total $ 1,758 $ 1,644 The effective federal income tax rate for the years ended June 30, 2017 and 2016 was 32.5% and 32.7%, respectively. Reconciliations of income tax expense at the statutory rate to the Company’s effective rates are as follows: 2017 2016 (In Thousands) Computed at Expected Statutory Rate $ 1,839 $ 1,707 Non-Taxable Income (50 ) (54 ) Other (31 ) (9 ) Provision for Income Tax Expense $ 1,758 $ 1,644 At June 30, 2017 and 2016, temporary differences between the financial statement carrying amount and tax bases of assets that gave rise to deferred tax recognition were related to the effect of loan bad debt deduction differences for tax and book purposes, deferred stock option compensation, and supplemental employee retirement benefits. The deferred tax expense or benefit related to securities available-for-sale has no effect on the Company’s income tax provision since it is charged or credited to the Company’s other comprehensive income or loss equity component. A valuation allowance has been established to eliminate the deferred tax benefit of capital losses due to the uncertainty as to whether the tax benefits would be realized in future periods. The net deferred income tax asset and liability consisted of the following components at June 30, 2017 and 2016: 2017 2016 (In Thousands) Deferred Tax Assets Market Value Adjustment to Available-for-Sale Securities $ 181 $ -- Stock Option and SERP Compensation 259 166 Loans Receivable - Bad Debt Loss Allowance 1,161 861 Capital Losses 73 110 1,674 1,137 Valuation Allowance (73 ) (110 ) Net Deferred Tax Assets 1,601 1,027 Deferred Tax Liabilities Market Value Adjustment to Available-for-Sale Securities -- (43 ) Net Deferred Tax Assets $ 1,601 $ 984 Included in retained earnings at June 30, 2017 and 2016 is approximately $3.3 million for which no deferred Federal income tax liability has been recorded. This amount consists of the total amount of bad debt reserves deducted for income tax reporting purposes prior to January 1, 1988. Under current tax law, these pre-1988 bad debt reserves are subject to recapture into taxable income if the Bank were to (a) make certain “non-dividend distributions,” which include distributions in excess of the Bank’s current and accumulated earnings and profits, distributions in redemption of stock, and distributions in partial or complete liquidation or (b) cease to maintain a bank or thrift charter. The unrecorded deferred tax liability was approximately $1.1 million at June 30, 2017 and 2016. Accounting principles generally accepted in the United States of America provide accounting and disclosure guidance about positions taken by an entity in its tax returns that might be uncertain. The Company believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements. Penalties and interest assessed by income taxing authorities, if any, would be included in income tax expense. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Jun. 30, 2017 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | Note 11. Employee Benefit Plans Effective November 15, 2004, the Bank adopted the Home Federal Bank Employees’ Savings and Profit Sharing Plan and Trust. This plan complies with the requirements of Section 401(k) of the Internal Revenue Code. Those eligible for this defined contribution plan must have completed twelve months of full time service and attained age 21. For 2017, participating employees may make elective salary reduction contributions of up to $18,000 of their eligible compensation. The Bank will contribute a basic “safe harbor” contribution of 3% of participant plan salary and will match 50% of the first 6% of plan salary elective deferrals. The Bank is also permitted to make discretionary contributions to be allocated to participant accounts. Pension costs, including administrative fees, attributable to the Bank’s 401(k) safe harbor plan for the years ended June 30, 2017 and 2016 were $149,000 for both periods. During fiscal year 2011, The Company established a Survivor Benefit Plan for the benefit of selected executives. The purpose of the plan is to provide benefits to designated beneficiaries, if a participant dies while employed by the Company. The plan is considered an unfunded plan for tax and ERISA purposes, and all obligations arising under the plan are payable from the general assets of the Company. At June 30, 2017 and 2016, there were no obligations requiring accrual for this plan. The Bank adopted a Supplemental Executive Retirement Agreement ("SERP") on December 27, 2012 (Effective Date) for its then Chief Executive Officer, Daniel R. Herndon. The agreement provides for retirement benefits payable in equal annual installments of $75,000 for eight consecutive years after Mr. Herndon s The Bank adopted a Supplemental Executive Retirement Agreement ("SERP") effective as of January 1, 2013 (Effective Date) for its then Chief Financial Officer, Clyde D. Patterson. The agreement provides for supplemental retirement benefits payable in equal annual installments of $25,000 for ten consecutive years after Mr. Patterson’s retirement. Mr. Patterson will be 100% vested after an additional five years of service following the Effective Date and shall vest ratably (i.e. 20% per year for five years) in the full retirement benefit for each year of service credit earned following the Effective Date. In the event of his death after a separation from service on or after December 31, 2017, and prior to receipt of ten years of Supplemental Retirement Benefits, the remainder will be payable each year to his designated beneficiary. In the event of his death while in active service, the designated beneficiary shall receive the full Supplemental Retirement Benefit in a single lump sum payment within thirty days following the date of death. In the event of his separation from service prior to December 31, 2017, whether with or without cause, Mr. Patterson shall be entitled to receive his accrued benefit payable in a lump sum on the first day of the next calendar quarter. Mr. Patterson shall be 100% vested in his accrued benefit at all times. For the years ended June 30, 2017 and 2016, the Company recorded compensation expense totaling $147,224 and $142,246, respectively, to accrue the benefits required by the SERP agreements. The Bank’s future compensation expense under these agreements is approximately $85,000 through December 2017. |
Employee Stock Ownership Plan
Employee Stock Ownership Plan | 12 Months Ended |
Jun. 30, 2017 | |
Employee Stock Ownership Plan [Abstract] | |
Employee Stock Ownership Plan | Note 12. Employee Stock Ownership Plan During fiscal 2007, the Company instituted an employee stock ownership plan. The Home Federal Bank Employee Stock Ownership Plan (ESOP) enables all eligible employees of the Bank to share in the growth of the Company through the acquisition of stock. Employees are generally eligible to participate in the ESOP after completion of one year of service and attaining the age of 21. The ESOP purchased the statutory limit of eight percent of the shares sold in our initial public offering completed on January 18, 2005, excluding shares issued to Home Federal Mutual Holding Company of Louisiana. This purchase was facilitated by a loan from the Company to the ESOP in the amount of $1.1 million. The corresponding note is being repaid in 80 quarterly debt service payments of $23,000 on the last business day of each quarter, beginning March 31, 2005, at the rate of 5.25%. As part of our second step conversion completed on The loans are secured by a pledge of the ESOP shares. The shares pledged as collateral are reported as unearned ESOP shares in the consolidated balance sheets. The notes payable and the corresponding notes receivable have been eliminated in consolidation. The Company may contribute to the ESOP, in the form of debt service, at the discretion of its board of directors. Cash dividends on the Company’s unallocated stock shall be used to either repay the loan or be distributed to the participants in the ESOP. If dividends are used to repay the loan, additional shares will be released from the suspense account and allocated to participants. Shares are released for allocation to ESOP participants based on principal and interest payments of the note. Compensation expense is recognized based on the number of shares allocated to ESOP participants each year and the average market price of the stock for the current year. Released ESOP shares become outstanding for earnings per share computations. As compensation expense is incurred, the unearned ESOP shares account is reduced based on the original cost of the stock. The difference between the cost and the average market price of shares released for allocation is applied to additional paid-in capital. ESOP compensation expense for the years ended June 30, 2017 and 2016, was $298,000 and $258,000, respectively. The ESOP shares as of June 30, 2017 and 2016, were as follows: 2017 2016 Allocated and Committed to be Released Shares, Beginning of Year 88,182 77,159 Shares Allocated and Committed to be Released During the Year 11,023 11,023 Unallocated and Unreleased Shares, as of Year End 117,688 128,711 Total ESOP Shares 216,893 216,893 Fair Value of Unreleased Shares (In Thousands) $ 3,172 $ 2,761 Stock Price $ 26.95 $ 21.45 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Jun. 30, 2017 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | Note 13. Stock-Based Compensation Recognition and Retention Plans 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. As a result of the second step conversion, the 2005 Recognition Plan became a stock benefit plan of the Company, and the Mid-Tier Company’s common stock was exchanged for stock of the Company. The aggregate number of shares of the Company’s common stock subject to award under the 2005 Recognition Plan totaled 63,547 (as adjusted for the conversion described in Note 1). As 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 under the 2011 Recognition Plan totaled 77,808 shares, all of which have been awarded. 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. 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 for any reason other than the recipient’s death, disability, or following a change in control of the Company, the recipient shall forfeit the right to any shares subject to the awards that have not been earned. The cost associated with the 2005 Recognition Plan is based on a share price of $10.93 (as adjusted), which represents the market price of the Company’s stock on the date on which the 2005 Recognition Plan shares were granted, August 19, 2010. The cost associated with the 2011 Recognition Plan is based on share prices of $14.70 and $18.92 on January 31, 2012 and July 31, 2014, respectively, which represents the fair market price of the Company’s stock on the dates on which the 2011 Recognition Plan shares were granted. The cost of the Recognition Plan is being recognized over the five year vesting period. Compensation expense pertaining to the Recognition Plan was $147,000 and $232,000, for the years ended June 30, 2017 and 2016, respectively. A summary of the changes in restricted stock follows: Awarded Shares 2017 2016 Balance - Beginning of Year 20,730 36,282 Granted -- -- Forfeited -- -- Earned and Issued (15,593 ) (15,552 ) Balance - End of Year 5,137 20,730 Stock Option Plans 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 employees. The aggregate number of shares of common stock reserved for issuance under the Option Plan totaled 158,868 (as adjusted). Both incentive stock options and non-qualified stock options may be granted under the 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 Plan) for the benefit of directors, officers, and other 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 Option Plan. On August 19, 2010 and July 31, 2014, the Company granted 21,616 options and 2,133 options, respectively, under the 2005 Option Plan that were previously forfeited (as adjusted for the conversion) at an exercise price of $10.93 and $18.92 per share, respectively. On January 31, 2012 and July 31, 2014, 165,344 options and 29,178 options, respectively, were granted to directors and employees at an exercise price of $14.70 and $18.92 per share, respectively, under the 2011 Option Plan. As of June 30, 2017, there were 389 stock options available for future grant under the 2011 Option Plan. Incentive stock options and non-qualified stock options granted under the Option Plan 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 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 recognizes compensation expense during the vesting period based on the fair value of the option on the date of the grant. At June 30, 2017 and 2016, compensation expense charged to operations was $105,000 and $170,000, respectively. 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 to 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. 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 year ended June 30, 2017 and 2016, the Company recognized $293,000 and $134,000, respectively, in expenses related to the Stock Incentive Plan. Stock Options Following is a summary of the status of the options outstanding under the Option Plan and Stock Incentive Plan during the fiscal years ended June 30, 2017 and 2016: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value Outstanding at June 30, 2016 304,477 $ 17.79 7.05 Granted -- -- Exercised (3,937 ) 14.70 Forfeited (389) 14.70 Outstanding at June 30, 2017 300,151 $ 17.83 6.07 $ 2,735,976 Options Exercisable at June 30, 2017 202,164 $ 15.70 5.10 $ 2,272,277 Outstanding at June 30, 2015 208,461 $ 15.03 Granted 103,500 23.00 Exercised (7,484 ) 12.86 Forfeited -- -- Outstanding at June 30, 2016 304,477 $ 17.79 7.05 $ 1,274,770 Options Exercisable at June 30, 2016 142,860 $ 14.53 5.57 $ 988,183 The fair value of each option granted is estimated on the grant date using the Black-Scholes model. The following assumptions were made in estimating fair value. 2014 Stock Incentive Plan 2011 Option Plan October 26, 2015 July 31, 2014 Dividend Yield 1.39 % 1.50 % Expected Term 10 years 10 years Risk-Free Interest Rate 2.07 % 2.58 % Expected Life 10 years 10 years Expected Volatility 20.38 % 9.56 % A summary of the status of the Company’s nonvested options as of June 30, 2017 and changes during the year ended June 30, 2017 is as follows: Number of Shares Weighted Average Exercise Price Nonvested at June 30, 2016 161,617 $ 20.67 Granted -- -- Vested ( 63,241 ) 18.31 Forfeited (389 ) 14.70 Nonvested at June 30, 2017 97,987 $ 22.22 |
Off-Balance Sheet Activities
Off-Balance Sheet Activities | 12 Months Ended |
Jun. 30, 2017 | |
Off-Balance Sheet Activities [Abstract] | |
Off-Balance Sheet Activities | Note 14. Off-Balance Sheet Activities Credit Related Financial Instruments The Bank is a party to credit related financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments consist primarily of commitments to extend credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Bank’s exposure to credit loss in the event of non-performance by the other party to loan commitments is represented by the contractual amount of the commitment. The Bank follows the same credit policies in making commitments as it does for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require a payment of a fee. The commitments for equity lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount and type of collateral obtained, if deemed necessary by the Bank upon extension of credit, varies and is based on management’s credit evaluation of the counterparty. No material gains or losses are anticipated as a result of these transactions. At June 30, 2017 and 2016, the following financial instruments were outstanding: Contract Amount 2017 2016 (In Thousands) Commitments to Grant Loans $ 45,679 $ 29,621 Unfunded Commitments Under Lines of Credit 9,905 10,948 $ 55,584 $ 40,569 Fixed Rate Loans (3.25% - 5.00% in 2017; 3.13% - 5.25% in 2016) $ 55,584 $ 40,262 Variable Rate Loans (2.88% - 4.75% in 2016) -- 307 $ 55,584 $ 40,569 Cash Deposits The Company periodically maintains cash balances in financial institutions that are in excess of insured amounts. The Company has not experienced any losses and does not believe that significant credit risk exists as a result of this practice. Regional Credit Concentration A substantial portion of the Bank’s lending activity is with customers located within a 100 mile radius of the Shreveport, Louisiana metropolitan area, which includes areas of northwest Louisiana, northeast Texas and southwest Arkansas. Although concentrated within the region, the Bank has a diversified loan portfolio, which should preclude the Bank from being dependent upon the well-being of any particular economic sector to ensure collectability of any significant portion of its debtors’ loan contracts. Other Credit Concentrations The Bank has purchased, with recourse from the seller, a significant number of loans from third-party mortgage originators. These loans are serviced by these entities. At June 30, 2017 and 2016, the balance of the loans outstanding being serviced by these entities was $6.6 million and $7.6 million, respectively. Interest Rate Floors and Caps The Bank writes interest rate floors and caps into its variable rate mortgage loan contracts and loan servicing agreements in an attempt to manage its interest rate exposure. Such floors and caps enable customers to transfer, modify, or reduce their interest rate risk, which, in turn, creates an off-balance sheet market risk to the Bank. At June 30, 2017, the Bank's loan portfolio contained approximately $29.9 million of loans in which the loan contracts or servicing agreements possessed interest rate floors and caps. Of this amount, $6.6 million consisted of purchased loans, which were originated by third-party mortgage originators. |
Related Party Events
Related Party Events | 12 Months Ended |
Jun. 30, 2017 | |
Related Party Events [Abstract] | |
Related Party Events | Note 15. Related Party Events In the ordinary course of business, the Bank makes loans to its directors and officers. These loans are made on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with other customers and do not involve more than normal credit risk or present other unfavorable features. An analysis of the activity in loans made to such borrowers (both direct and indirect), including lines of credit, is summarized as follows for the years ended June 30, 2017 and 2016: 2017 2016 (In Thousands) Balance – Beginning of Year $ 3,772 $ 3,761 Additions 299 507 Principal Payments (1,229 ) (496 ) Balance – End of Year $ 2,842 $ 3,772 Deposits from related parties held by the Bank at June 30, 2017 and 2016, amounted to $3.0 million and $3.7 million, respectively. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Jun. 30, 2017 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | Note 16. Regulatory Matters The Bank is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly other discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital requirements that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items, as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Bank is required to maintain minimum capital ratios under OCC regulatory guidelines in order to ensure capital adequacy. Management believes, as of June 30, 2017 and 2016, that the Bank met all OCC capital adequacy requirements to which it is subject. As of June 30, 2017, the most recent notification from the OCC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum capital ratios, which are different than those required to meet OCC capital adequacy requirements. There are no conditions or events since that notification that management believes may have changed the Bank’s category. The Bank was also classified as well capitalized at June 30, 2017. The Bank’s actual and required capital amounts and ratios for OCC regulatory capital adequacy purposes are presented below as of June 30, 2017 and 2016: Actual Required for Capital Adequacy Purposes Amount Ratio Amount Ratio (Dollars in Thousands) June 30, 2017 Core Capital (1 ) $ 45,977 11.06 % $ 12,475 3.00 % Common Equity Tier 1 (2 ) 45,977 16.14 12,821 4.50 Tangible Capital (1 ) 45,977 11.06 6,237 1.50 Total Risk-Based Capital (2 ) 49,545 17.39 22,793 8.00 June 30, 2016 Core Capital (1 ) $ 42,863 11.81 % $ 10,893 3.00 % Common Equity Tier 1 (2 ) 42,863 16.66 11,574 4.50 Tangible Capital (1 ) 42,863 11.81 5,446 1.50 Total Risk-Based Capital (2 ) 45,708 17.77 20,577 8.00 (1) Amounts and Ratios to Adjusted Total Assets (2) Amounts and Ratios to Total Risk-Weighted Assets The Bank’s actual and required capital amounts and ratios to be well capitalized under prompt corrective action provisions are presented below as of June 30, 2017 and 2016: Actual Required to be Well Capitalized Amount Ratio Amount Ratio (Dollars in Thousands) June 30, 2017 Tier 1 Leverage Capital (1 ) $ 45,977 11.06 % $ 20,790 5.00 % Common Equity Tier 1 (2 ) 45,977 16.14 18,519 6.50 Tier 1 Risk-Based Capital (2 ) 45,977 16.14 22,793 8.00 Total Risk-Based Capital (2 ) 49,545 17.39 28,492 10.00 June 30, 2016 Tier 1 Leverage Capital (1 ) $ 42,863 11.81 % $ 18,154 5.00 % Common Equity Tier 1 (2 ) 42,863 16.66 16,719 6.50 Tier 1 Risk-Based Capital (2 ) 42,863 16.66 20,576 8.00 Total Risk-Based Capital (2 ) 45,708 17.77 25,721 10.00 (1) Amounts and Ratios to Adjusted Total Assets (2) Amounts and Ratios to Total Risk-Weighted Assets The actual and required capital amounts and ratios applicable to the Bank for the years ended June 30, 2017 and 2016 are presented in the following tables, including a reconciliation of capital under generally accepted accounting principles (GAAP) to such amounts reported for regulatory purposes: Actual Minimum for Capital Adequacy Purposes June 30, 2017 Ratio Amount Ratio Amount (Dollars in Thousands) Total Equity, and Ratio to Total Assets 10.96 % $ 45,563 Investments in and Advances to Nonincludable Subsidiaries (119 ) Unrealized Gains on Securities Available-for-Sale 533 Tangible Capital, and Ratio to Adjusted Total Assets 11.06 % $ 45,977 1.50 % $ 6,237 Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets 11.06 % $ 45,977 3.00 % 12,475 Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets 16.14 % 45,977 4.50 % 12,821 Allowance for Loan Losses 3,728 Excess Allowance for Loan Losses (160 ) Total Risk-Based Capital, and Ratio to Risk-Weighted Assets 17.39 % $ 49,545 8.00 % $ 22,793 Total Assets $ 415,652 Adjusted Total Assets $ 415,817 Risk-Weighted Assets $ 284,918 Actual Minimum for Capital Adequacy Purposes June 30, 2016 Ratio Amount Ratio Amount (Dollars in Thousands) Total Equity, and Ratio to Total Assets 11.87 % $ 43,110 Investments in and Advances to Nonincludable Subsidiaries (119 ) Unrealized Gains on Securities Available-for-Sale (128 ) Tangible Capital, and Ratio to Adjusted Total Assets 11.81 % $ 42,863 1.5 % $ 5,446 Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets 11.81 % $ 42,863 3.0 % $ 10,893 Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets 16.66 % 42,863 4.5 % $ 11,574 Allowance for Loan Losses 2,845 Total Risk-Based Capital, and Ratio to Risk-Weighted Assets 17.77 % $ 45,708 8.0 % $ 20,577 Total Assets $ 363,585 Adjusted Total Assets $ 363,088 Risk-Weighted Assets $ 257,211 |
Restrictions on Dividends
Restrictions on Dividends | 12 Months Ended |
Jun. 30, 2017 | |
Restrictions on Dividends [Abstract] | |
Restrictions on Dividends | Note 17. Restrictions on Dividends Federal banking regulations place certain restrictions on dividends paid by the Bank to the Company. The total amount of dividends which may be paid is generally limited to the net income of the Bank for the year to date plus the retained net income for the preceding two years. |
Fair Value Disclosures
Fair Value Disclosures | 12 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Note 18. 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. Investment Securities Fair 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. At June 30, 2017 and 2016, the carrying amount and estimated fair values of the Company’s financial instruments were as follows: 2017 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (In Thousands) Financial Assets Cash and Cash Equivalents $ 11,905 $ 11,905 $ 4,756 $ 4,756 Securities Available-for-Sale 36,935 36,935 50,173 50,173 Securities to be Held-to-Maturity 28,357 27,989 2,349 2,349 Loans Held-for-Sale 13,631 13,631 11,919 11,919 Loans Receivable 312,772 301,741 290,827 290,339 Financial Liabilities Deposits $ 329,045 $ 313,514 $ 287,822 $ 285,503 Advances from FHLB 48,907 48,918 47,665 47,802 Off-Balance Sheet Items Mortgage Loan Commitments $ 457 $ 457 $ 296 $ 296 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 ASC 820, Fair Value Measurements · 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 instruments 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. The preceding methods described may produce a fair value calculation that may not be indicative of the net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used during the year ended June 30, 2017. Fair values of assets and liabilities measured on a recurring basis at June 30, 2017 and 2016 are as follows: Fair Value Measurements June 30, 2017 (Level 1) (Level 2) (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 8,848 $ -- $ 8,848 FNMA -- 19,957 -- 19,957 GNMA -- 8,130 -- 8,130 Total $ -- $ 36,935 $ -- $ 36,935 Fair Value Measurements June 30, 2016 (Level 1) (Level 2) (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 10,793 $ -- $ 10,793 FNMA -- 27,223 -- 27,223 GNMA -- 12,157 -- 12,157 Total $ -- $ 50,173 $ -- $ 50,173 The Company did not record any liabilities at fair market value for which measurement of the fair value was made on a recurring basis at June 30, 2017 or 2016. The following tables present the Company’s assets and liabilities measured at fair value on a non-recurring basis at June 30, 2017 and 2016. Fair Value Measurements June 30, 2017 (Level 1) (Level 2) (Level 3) Total (In Thousands) Assets: Impaired Loans, Net of Allowance $ -- $ -- $ 282 $ 282 Other Real Estate Owned -- -- 540 -- Total $ -- $ -- $ 822 $ 282 Fair Value Measurements June 30, 2016 (Level 1) (Level 2) (Level 3) Total (In Thousands) Assets: Impaired Loans, Net of Allowance $ -- $ -- $ 13 $ 13 Total $ -- $ -- $ 13 $ 13 |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Jun. 30, 2017 | |
Earnings Per Common Share [Abstract] | |
Earnings Per Common Share | Note 19. Earnings Per Common Share The following table presents the components of average outstanding common shares for the years ended June 30, 2017 and 2016: 2017 2016 Average Common Shares Issued 1,957,859 2,045,179 Average Unearned ESOP Shares (127,254 ) (138,784 ) Average Unearned RRP Trust Shares (13,456 ) (29,007 ) Weighted Average Number of Common Shares Used in Basic EPS 1,817,149 1,877,388 Effect of Dilutive Securities Stock Options 92,318 64,314 Weighted Average Number of Common Shares and Dilutive Potential Common Shares Used in Dilutive EPS 1,909,467 1,941,702 Earnings per share are computed using the weighted average number of shares outstanding as prescribed in GAAP. For the years ended June 30, 2017 and 2016, there were outstanding options to purchase 300,151 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 20. Subsequent Events In accordance with FASB ASC 855, Subsequent Events |
Parent Company Financial Statem
Parent Company Financial Statements | 12 Months Ended |
Jun. 30, 2017 | |
Parent Company Financial Statements [Abstract] | |
Parent Company Financial Statements | Note 21. Parent Company Financial Statements Financial information pertaining only to Home Federal Bancorp, Inc. of Louisiana as of June 30, 2017 and 2016 is as follows: HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Balance Sheets June 30, 2017 and 2016 June 30, 2017 2016 (In Thousands) Assets Cash and Cash Equivalents $ 197 $ 90 Investment in Subsidiary 45,813 43,360 Other Assets 275 409 Total Assets $ 46,285 $ 43,859 Liabilities and Stockholders' Equity Borrowings $ -- $ 400 Other Liabilities 39 67 Stockholders' Equity 46,246 43,392 Total Liabilities and Stockholders' Equity $ 46,285 $ 43,859 HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Operations For the Years Ended June 30, 2017 and 2016 For the Years Ended June 30, 2017 2016 (In Thousands) Equity in Undistributed Earnings of Subsidiary $ 3,888 $ 3,612 Interest Income 80 85 Total Income 3,968 3,697 Operating Expenses 424 423 Interest Expense 14 18 Total Expense 438 441 Income Before Income Tax Benefit 3,530 3,256 Income Tax Benefit (122 ) (121 ) Net Income $ 3,652 $ 3,377 HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Cash Flows For the Years Ended June 30, 2017 and 2016 For the Years Ended June 30, 2017 2016 (In Thousands) Operating Activities Net Income $ 3,652 $ 3,377 Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities (3,888 ) (3,612 ) Decrease (Increase) in Other Assets 134 (162 ) (Decrease) Increase in Other Liabilities (28 ) 54 Net Cash Used in Operating Activities (130 ) (343 ) Financing Activities Distribution from Subsidiary 1,000 3,000 Proceeds from Stock Options Exercised 61 85 Proceeds of Borrowings 300 2,200 Repayment of Borrowings (700 ) (1,800 ) Proceeds Received from Subsidiary on Stock Compensation Programs Company Stock Purchased (645 ) (3,353 ) Dividends Paid (705 ) (660 ) Net Cash Provided by Financing Activities 237 45 Increase (Decrease) in Cash and Cash Equivalents 107 (298 ) Cash and Cash Equivalents, Beginning of Year 90 388 Cash and Cash Equivalents, End of Year $ 197 $ 90 |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations On December 22, 2010, Home Federal Mutual Holding Company completed its second step conversion from the mutual holding company form of organization to the fully public stock holding company structure pursuant to a Plan of Conversion and Reorganization. Upon completion of the conversion, Home Federal Bancorp, Inc. of Louisiana, a newly formed Louisiana chartered corporation (the Company), became the holding company for Home Federal Bank (the Bank), and Home Federal Mutual Holding Company of Louisiana and Home Federal Bancorp, Inc. of Louisiana, a federally chartered corporation, (the Mid-Tier Company) ceased to exist. As part of the conversion, all outstanding shares of the Mid-Tier Company common stock (other than those owned by Home Federal Mutual Holding Company) were converted into the right to receive 0.9110 of a share of the newly formed Home Federal Bancorp, Inc. of Louisiana common stock resulting in approximately 1,100,609 shares issued in the exchange and cash in lieu of fractional shares. In addition, a total of 1,945,220 shares of common stock, par value $0.01 per share, of Home Federal Bancorp, Inc. of Louisiana were sold in subscription, community, and syndicated community offerings to certain depositors and borrowers of the Bank, the Bank’s Employee Stock Ownership Plan, and other investors for $10.00 per share, or $19.5 million in aggregate. Treasury stock held was cancelled in the conversion. The net proceeds of the offering were approximately $18.0 million after offering expenses. 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 Bank provides financial services to individuals, corporate entities, and other organizations through the origination of loans and the acceptance of deposits in the form of passbook savings, certificates of deposit, and demand deposit accounts. Services are provided by six branch offices, four of which are located in Shreveport, Louisiana and two in Bossier City, Louisiana. The Bank’s home office is located in Shreveport, Louisiana. The Bank is subject to competition from other financial institutions and to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. |
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Home Federal Bank. All significant intercompany balances and transactions have been eliminated. |
Use of Estimates | Use In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting periods. 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 and deferred taxes. |
Significant Group Concentrations of Credit Risk | Significant Most of the Company’s activities are provided to customers of the Bank by six branch offices, four of which are located in the city of Shreveport, Louisiana and two in Bossier City, Louisiana. The area served by the Bank is primarily the Shreveport-Bossier City metropolitan area; however, loan and deposit customers are found dispersed in a wider geographical area covering much of northwest Louisiana. |
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 have an original maturity date of ninety days or less. At June 30, 2017 and 2016, cash and cash equivalents consisted of the following: 2017 2016 (In Thousands) Cash on Hand $ 871 $ 2,027 Demand Deposits at Other Institutions 5,259 2,529 Federal Funds Sold 5,775 200 Total $ 11,905 $ 4,756 |
Securities | Securities Securities are being accounted for in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 320, Investments - Debt and Equity Securities. Investments in non-marketable 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 cost, adjusted for amortization of the related premiums, and accretion of discounts, using the interest method. 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. The Company held no trading securities as of June 30, 2017 and 2016. 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 Company 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 non-refundable 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 discounts are 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 uncollectibility 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 fair value of the collateral of the loan. If the 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. A loan is considered a troubled debt restructuring (“TDR”) if the Company, for economic or legal reasons related to a debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Concessions granted under a TDR typically involve a temporary or permanent reduction in payments or interest rate or an extension of a loan’s stated maturity date at less than a current market rate of interest. Loans identified as TDRs are designated as impaired. 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 known and inherent losses in the existing loan portfolio both probable and reasonable to estimate. |
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 |
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. Estimated useful lives are as follows: Buildings and Improvements 10 - 40 Years Furniture and Equipment 3 - 10 Years |
Bank-Owned Life Insurance | Bank-Owned Life Insurance The Company has purchased life insurance contracts on the lives of certain key employees. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in non-interest income. |
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 will pay 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. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable. The Company follows the provisions of the Income Taxes 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. |
Earnings per Share | Earnings per Share Earnings per share are computed based upon the weighted average number of common shares outstanding during the year. |
Non-Direct Response Advertising | Non-Direct Response Advertising The Company expenses all advertising costs, except for direct-response advertising, as incurred. Non-direct response advertising costs were $423,000 and $236,000 for the years ended June 30, 2017 and 2016, respectively. In the event the Company incurs expense for material direct-response advertising, it will be amortized over the estimated benefit period. Direct-response advertising consists of advertising whose primary purpose is to elicit sales to customers who could be shown to have responded specifically to the advertising and results in probable future benefits. For the years ended June 30, 2017 and 2016, the Company did not incur any amount of direct-response advertising. |
Stock-Based Compensation | Stock-Based Compensation GAAP requires all share-based payments to employees, including grants of employee stock options and recognition and retention share awards, to be recognized as expense in the statement of operations based on their fair values. The amount of compensation is measured at the fair value of the options or recognition and retention share awards when granted, and this cost is expensed over the required service period, which is normally the vesting period of the options or recognition and retention awards. This guidance applies to awards granted or modified after January 1, 2006, or any unvested awards outstanding prior to that date. |
Reclassification | Reclassification Certain financial statement balances included in the prior year consolidated financial statements have been reclassified to conform to the current year presentation. |
Comprehensive Income | Comprehensive Income Accounting principles generally 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 c b s (loss). The components of other comprehensive income (loss) 2017 2016 (In Thousands) Unrealized Holding Loss on Available-for-Sale Securities $ (660 ) $ (24 ) Tax Effect 224 8 Net-of-Tax Amount $ (436 ) $ (16 ) The components of accumulated other comprehensive income, included in stockholders’ equity, are as follows: 2017 2016 (In Thousands) Net Unrealized (Loss) Gain on Securities Available-for-Sale $ (533 ) $ 128 Tax Effect 181 (44 ) Net-of-Tax Amount $ (352 ) $ 84 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers. The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of ASU 2014-09 requires an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration of which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of ASU 2014-09 making it effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. In April 2016, the FASB issued ASU 2016-10 which does not change the core principle of the guidance in Topic 606. The amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. In May 2016, the FASB issued ASU 2016-12 which does not change the core principle of the guidance in Topic 606. The amendments in this Update affect only certain narrow aspects of Topic 606. Management is currently assessing the impact to the Company’s consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. This ASU eliminates the requirement to retrospectively account for changes to provisional amounts initially recorded in a business combination. ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined, including the effect of the change in provisional amount as if the accounting had been completed at the acquisition date. The provisions of this ASU are effective for fiscal years beginning after December 15, 2015, and should be applied prospectively to adjustments to provisional amounts that occur after the effective date. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, which simplifies the presentation of deferred taxes by requiring deferred tax assets and liabilities to be classified as non-current on the balance sheet. This update is effective for fiscal years beginning after December 15, 2017. The guidance may be adopted prospectively or retrospectively and early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments. The amendments in this Update supersede the guidance to classify equity securities with readily determinable fair values into different categories and require equity securities to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of impairment. The amendments in this Update also simplify the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. In addition, the amendments in this Update exempt all entities that are not public business entities from disclosing fair value information for financial instruments measured at amortized cost. In addition, for public business entities, the amendments supersede the requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required to be disclosed for financial instruments measured at amortized cost on the balance sheet. The amendments in this Update require public business entities that are required to disclose fair value of financial instruments measured at amortized cost on the balance sheet to measure that fair value using the exit price notion consistent with Topic 820, 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. For public business entities, 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 standard is not expected to have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. From the lessee’s perspective, the new standard establishes a right-of-use (ROU) model that requires a lessee to record ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting pattern of expense recognition in the income statement for a lessee. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This Update is being issued as part of the Simplification Initiative. The areas of simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some areas only apply to nonpublic entities. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this Update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public business entities that are SEC filers, the amendments in this Update are effective for fiscal years beginning after December 15, 2019, including interim periods with those fiscal years. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments – Equity Method and Joint Ventures Revenue from Contracts with Customers Leases Financial Instruments-Credit Losses In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation |
Summary of Significant Accoun30
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
Components of Cash and Cash Equivalents | At June 30, 2017 and 2016, cash and cash equivalents consisted of the following: 2017 2016 (In Thousands) Cash on Hand $ 871 $ 2,027 Demand Deposits at Other Institutions 5,259 2,529 Federal Funds Sold 5,775 200 Total $ 11,905 $ 4,756 |
Estimated Useful Lives | Estimated useful lives are as follows: Buildings and Improvements 10 - 40 Years Furniture and Equipment 3 - 10 Years |
Components of Other Comprehensive Income (Loss) and Related Tax Effects | The components of other comprehensive income (loss) 2017 2016 (In Thousands) Unrealized Holding Loss on Available-for-Sale Securities $ (660 ) $ (24 ) Tax Effect 224 8 Net-of-Tax Amount $ (436 ) $ (16 ) |
Components of Accumulated Other Comprehensive Income Included in Stockholders' Equity | The components of accumulated other comprehensive income, included in stockholders’ equity, are as follows: 2017 2016 (In Thousands) Net Unrealized (Loss) Gain on Securities Available-for-Sale $ (533 ) $ 128 Tax Effect 181 (44 ) Net-of-Tax Amount $ (352 ) $ 84 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
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: June 30, 2017 Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Debt Securities FHLMC Mortgage-Backed Certificates $ 9,140 $ 5 $ 297 $ 8,848 FNMA Mortgage-Backed Certificates 19,986 256 285 19,957 GNMA Mortgage-Backed Certificates 8,342 3 215 8,130 Total Debt Securities 37,468 264 797 36,935 Total Securities Available-for-Sale $ 37,468 $ 264 $ 797 $ 36,935 Securities Held-to-Maturity Debt Securities FNMA Mortgage-Backed Securities $ 25,558 $ 2 $ 370 $ 25,190 Equity Securities (Non-Marketable) 25,488 Shares – Federal Home Loan Bank 2,549 -- -- 2,549 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,799 -- -- 2,799 Total Securities Held-to-Maturity $ 28,357 $ 2 $ 370 $ 27,989 June 30, 2016 Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Debt Securities FHLMC Mortgage-Backed Certificates $ 10,928 $ 12 $ 147 $ 10,793 FNMA Mortgage-Backed Certificates 26,610 613 -- 27,223 GNMA Mortgage-Backed Certificates 12,507 4 354 12,157 Total Debt Securities 50,045 629 501 50,173 Total Securities Available-for-Sale $ 50,045 $ 629 $ 501 $ 50,173 Securities Held-to-Maturity Equity Securities (Non-Marketable) 20,989 Shares – Federal Home Loan Bank $ 2,099 $ -- $ -- $ 2,099 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,349 -- -- 2,349 Total Securities Held-to-Maturity $ 2,349 $ -- $ -- $ 2,349 |
Amortized Cost and Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities by contractual maturity at June 30, 2017, follows: Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In Thousands) Debt Securities Within One Year or Less $ 10 $ 11 $ -- $ -- One through Five Years 60 61 -- -- After Five through Ten Years 43 43 -- -- Over Ten Years 37,355 36,820 25,558 25,190 37,468 36,935 25,558 25,190 Other Equity Securities -- -- 2,799 2,799 Total $ 37,468 $ 36,935 $ 28,357 $ 27,989 |
Information Pertaining to Securities with Gross Unrealized Losses, Continuous Loss Position | Information pertaining to securities with gross unrealized losses at June 30, 2017 and 2016, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: June 30, 2017 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In Thousands) Securities Available-for-Sale Debt Securities Mortgage-Backed Securities $ 144 $ 10,278 $ 653 $ 21,719 Marketable Equity Securities -- -- -- -- Total Securities Available-for-Sale $ 144 $ 10,278 $ 653 $ 21,719 June 30, 2016 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In Thousands) Securities Available-for-Sale Debt Securities Mortgage-Backed Securities $ 147 $ 17,852 $ 354 $ 12,066 Marketable Equity Securities -- -- -- -- Total Securities Available-for-Sale $ 147 $ 17,852 $ 354 $ 12,066 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Loans Receivable [Abstract] | |
Summary of Loans Receivable | Loans receivable at June 30, 2017 and 2016, are summarized as follows: 2017 2016 (In Thousands) Loans Secured by Mortgages on Real Estate One-to-Four Family Residential $ 125,306 $ 118,035 Commercial 77,945 69,197 Multi-Family Residential 21,281 20,661 Land 25,038 24,308 Construction 9,529 14,442 Equity and Second Mortgage 1,710 1,526 Equity Lines of Credit 20,976 17,290 Total Mortgage Loans 281,785 265,459 Commercial Loans 34,429 27,886 Consumer Loans Loans on Savings Accounts 420 404 Other Consumer Loans 63 86 Total Consumer Other Loans 483 490 Total Loans 316,697 293,835 Less: Allowance for Loan Losses (3,729 ) (2,845 ) Unamortized Loan Fees (196 ) (163 ) Net Loans Receivable $ 312,772 $ 290,827 |
Analysis of Allowance for Loan Losses | An analysis of the allowance for loan losses follows: 2017 2016 (In Thousands) Balance - Beginning of Year $ 2,845 $ 2,515 Provision for Loan Losses 900 271 Recoveries 14 59 Loan Charge-Offs (30 ) -- Balance - End of Year $ 3,729 $ 2,845 |
Fixed Rate Loans and Adjustable Rate Loans Receivable | Fixed rate loans receivable, as of June 30, 2017, are scheduled to mature and adjustable rate loans are scheduled to re-price as follows (in thousands) Under One Year Over One to Five Years Over Five to Ten Years Over Ten Years Total Loans Secured by One-to-Four (In Thousands) Family Residential Fixed Rate $ 15,145 $ 35,540 $ 14,944 $ 36,108 $ 101,737 Adjustable Rate 1,556 7,135 7,288 7,590 23,569 Other Loans Secured by Real Estate Fixed Rate 12,604 46,991 32,293 7,261 99,149 Adjustable Rate 57,233 97 -- -- 57,330 All Other Loans Fixed Rate 2,259 12,814 3,163 -- 18,236 Adjustable Rate 16,676 -- -- -- 16,676 Total $ 105,473 $ 102,577 $ 57,688 $ 50,959 $ 316,697 |
Grading of Loans, Segregated by Class of Loans | The following tables present the grading of loans, segregated by class of loans, as of June 30, 2017 and 2016: June 30, 2017 Pass Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 124,450 $ 303 $ 553 $ -- $ 125,306 Commercial 77,690 -- 255 -- 77,945 Multi-Family Residential 21,281 -- -- -- 21,281 Land 24,915 123 -- -- 25,038 Construction 9,232 297 -- -- 9,529 Equity and Second Mortgage 1,710 -- -- -- 1,710 Equity Lines of Credit 20,976 -- -- -- 20,976 Commercial Loans 31,916 -- 2,503 -- 34,429 Consumer Loans 483 -- -- -- 483 Total $ 312,653 $ 723 $ 3,311 $ -- $ 316,697 June 30, 2016 Pass Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 117,881 $ 40 $ 114 $ -- $ 118,035 Commercial 68,899 30 268 -- 69,197 Multi-Family Residential 20,661 -- -- -- 20,661 Land 23,753 555 -- -- 24,308 Construction 14,442 -- -- -- 14,442 Equity and Second Mortgage 1,526 -- -- -- 1,526 Equity Lines of Credit 17,290 -- -- -- 17,290 Commercial Loans 25,896 -- 1,990 -- 27,886 Consumer Loans 490 -- -- -- 490 Total $ 290,838 $ 625 $ 2,372 $ -- $ 293,835 |
Aging Analysis of Past Due Loans Segregated by Class of Loans | An aging analysis of past due loans, segregated by class of loans, as of June 30, 2017 and 2016, is as follows: June 30, 2017 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 1,650 $ 350 $ 662 $ 2,662 $ 122,644 $ 125,306 $ 181 Commercial 8 -- -- 8 77,937 77,945 -- Multi-Family Residential -- -- -- -- 21,281 21,281 -- Land -- -- -- -- 25,038 25,038 -- Construction -- -- -- -- 9,529 9,529 -- Equity and Second Mortgage -- -- -- -- 1,710 1,710 -- Equity Lines of Credit 194 -- 4 198 20,778 20,976 4 Commercial Loans -- -- 2,503 2,503 31,926 34,429 -- Consumer Loans -- -- -- -- 483 483 -- Total $ 1,852 $ 350 $ 3,169 $ 5,371 $ 311,326 $ 316,697 $ 185 June 30, 2016 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Total Past Due Current Total Loans Receivable Recorded Investment > 90 Days and Accruing (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 2,646 $ 1,674 $ 114 $ 4,434 $ 113,601 $ 118,035 $ 101 Commercial -- -- -- -- 69,197 69,197 -- Multi-Family Residential -- -- -- -- 20,661 20,661 -- Land -- 555 -- 555 23,753 24,308 -- Construction -- -- -- -- 14,442 14,442 -- Equity and Second Mortgage -- -- -- -- 1,526 1,526 -- Equity Lines of Credit 78 15 -- 93 17,197 17,290 -- Commercial Loans -- -- -- -- 27,886 27,886 -- Consumer Loans -- -- -- -- 490 490 -- Total $ 2,724 $ 2,244 $ 114 $ 5,082 $ 288,753 $ 293,835 $ 101 |
Allowance for Loan Losses and Recorded Investment in Loans | The allowance for loan losses and recorded investment in loans for the year ended June 30, 2017 and 2016 was as follows: Real Estate Loans June 30, 2017 Residential Commercial Multi- Family Land Construction Other Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,517 $ 321 $ 111 $ 201 $ 126 $ 117 $ 444 $ 8 $ 2,845 Charge-Offs -- -- -- (16 ) -- (14 ) -- -- (30 ) Recoveries 14 -- -- -- -- -- -- -- 14 Current Provision 291 32 (38 ) 18 21 39 535 2 900 Ending Balances $ 1,822 $ 353 $ 73 $ 203 $ 147 $ 142 $ 979 $ 10 $ 3,729 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,822 353 73 203 147 142 979 10 3,729 Loans Receivable: Ending Balances - Total $ 125,306 $ 77,945 $ 21,281 $ 25,038 $ 9,529 $ 22,686 $ 34,429 $ 483 $ 316,697 Ending Balances: Evaluated for Impairment: Individually 856 255 -- 123 297 -- 2,513 -- 4,044 Collectively $ 124,450 $ 77,690 $ 21,281 $ 24,915 $ 9,232 $ 22,686 $ 31,916 $ 483 $ 312,653 Real Estate Loans June 30, 2016 Residential Commercial Multi- Family Land Construction Other 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 59 -- -- -- -- -- -- -- 59 Current Provision 263 (94 ) 8 47 (20 ) (75 ) 139 3 271 Ending Balances $ 1,517 $ 321 $ 111 $ 201 $ 126 $ 117 $ 444 $ 8 $ 2,845 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1,517 321 111 201 126 117 444 8 2,845 Loans Receivable: Ending Balances – Total $ 118,035 $ 69,197 $ 20,661 $ 24,308 $ 14,442 $ 18,816 $ 27,886 $ 490 $ 293,835 Ending Balances: Evaluated for Impairment: Individually 154 298 -- 555 -- -- 1,990 -- 2,997 Collectively $ 117,881 $ 68,899 $ 20,661 $ 23,753 $ 14,442 $ 18,816 $ 25,896 $ 490 $ 290,838 |
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 June 30, 2017 and 2016: June 30, 2017 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 $ 856 $ 856 $ -- $ 856 $ -- $ 861 Commercial 255 255 -- 255 -- 261 Multi-Family Residential -- -- -- -- -- -- Land 123 123 -- 123 -- 125 Construction 297 297 -- 297 -- 299 Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit -- -- -- -- -- -- Commercial Loans 2,513 2,513 -- 2,513 -- 2,649 Consumer Loans -- -- -- -- -- -- Total $ 4,044 $ 4,044 $ -- $ 4,044 $ -- $ 4,195 June 30, 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 $ 154 $ 154 $ -- $ 154 $ -- $ 162 Commercial 298 298 -- 298 -- 274 Multi-Family Residential -- -- -- -- -- -- Land 555 555 -- 555 -- 586 Construction -- -- -- -- -- -- Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit -- -- -- -- -- -- Commercial Loans 1,990 1,990 -- 1,990 -- 2,460 Consumer Loans -- -- -- -- -- -- Total $ 2,997 $ 2,997 $ -- $ 2,997 $ -- $ 3,482 |
Information about TDRs | Information about the Company’s TDRs is as follows (in thousands): June 30, 2017 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial business $ - $ 1,717 $ 1,717 $ 1,717 June 30, 2016 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial business $ 1,989 $ - $ - $ 1,989 |
Impaired Loans Segregated by Class of Loans | Impaired loans, segregated by class of loans, were as follows: 2017 2016 (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 317 $ 13 Commercial -- -- Multi-Family Residential -- -- Land -- -- Construction -- -- Equity and Second Mortgage -- -- Equity Lines of Credit -- -- Commercial Loans 2,503 1,990 Consumer Loans -- -- Total $ 2,820 $ 2,003 |
Accrued Interest Receivable (Ta
Accrued Interest Receivable (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Accrued Interest Receivable [Abstract] | |
Components of Accrued Interest Receivable | Accrued interest receivable at June 30, 2017 and 2016 consisted of the following: 2017 2016 (In Thousands) Accrued Interest on: Mortgage Loans $ 760 $ 872 Other Loans 215 58 Investments 3 3 Mortgage-Backed Securities 116 91 Total $ 1,094 $ 1,024 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Premises and Equipment [Abstract ] | |
Summary of Cost and Accumulated Depreciation of Premises and Equipment | A summary of the cost and accumulated depreciation of premises and equipment follows: 2017 2016 (In Thousands) Land $ 3,746 $ 4,043 Buildings 8,494 8,328 Equipment 1,447 1,368 Construction in Progress 1,307 926 14,994 14,665 Accumulated Depreciation (2,775 ) (2,299 ) Total $ 12,219 $ 12,366 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Deposits [Abstract] | |
Summary of Deposits | Deposits at June 30, 2017 and 2016 are summarized as follows: Weighted Average Rate at Weighted Average Rate at 2017 2016 6/30/2017 6/30/2016 Amount Percent Amount Percent (Dollars in Thousands) Non-Interest Bearing 0.00 % 0.00 % $ 54,420 16.54 % $ 39,280 13.65 % NOW Accounts 0.55 % 0.58 % 34,500 10.48 37,761 13.12 Money Market 0.36 % 0.32 % 42,439 12.90 49,251 17.11 Passbook Savings 0.52 % 0.42 % 35,050 10.65 29,033 10.09 166,409 50.57 155,325 53.97 Certificates of Deposit 1.37 % 1.26 % 162,636 49.43 132,497 46.03 Total Deposits $ 329,045 100.00 % $ 287,822 100.00 % |
Composition of Certificates of Deposit Accounts by Interest Rate | The composition of certificates of deposit accounts by interest rate is as follows: 2017 2016 Amount Percent Amount Percent (Dollars in Thousands) 0.00% to 0.99% $ 28,293 17.40 % $ 46,544 35.13 % 1.00% to 1.99% 123,037 75.65 70,606 53.29 2.00% to 2.99% 11,306 6.95 14,961 11.29 3.00% to 3.99% -- -- 386 0.29 Total Deposits $ 162,636 100.00 % $ 132,497 100.00 % |
Maturities of Certificates of Deposit Accounts | Maturities of certificates of deposit accounts at June 30, 2017 are scheduled as follows: Year Ending June 30, Amount Percent Weighted Average Rate (Dollars in Thousands) 2018 $ 68,488 42.11 % 1.02 % 2019 32,101 19.74 1.38 2020 36,332 22.34 1.74 2021 11,901 7.32 1.62 2022 13,017 8.00 1.93 2023 797 0.49 1.98 Total $ 162,636 100.00 % 1.37 % |
Interest Expense on Deposits | Interest expense on deposits for the years ended June 30, 2017 and 2016 was as follows: 2017 2016 (In Thousands) NOW and Money Market $ 335 $ 431 Passbook Savings 160 93 Certificates of Deposit 1,861 1,805 Total $ 2,356 $ 2,329 |
Advances from Federal Home Lo36
Advances from Federal Home Loan Bank of Dallas (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Advances from Federal Home Loan Bank of Dallas [Abstract] | |
Advances | Advances at June 30, 2017 and 2016 consisted of the following: Advance Total Contract Rate 2017 2016 (In Thousands) 0.00% to 0.99% $ 5,000 $ 41,500 1.00% to 1.99% 42,000 4,000 2.00% to 2.99% -- -- 3.00% to 3.99% -- -- 4.00% to 4.99% 1,907 2,165 Total $ 48,907 $ 47,665 |
Maturities of Advances | Maturities of advances at June 30, 2017 are as follows (in thousands): Year Ending June 30, Amount 2018 $ 37,270 2019 5,282 2020 5,295 2021 193 2022 35 Thereafter 832 Total $ 48,907 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Commitments [Abstract] | |
Future Minimum Rental Payments Resulting from Non-cancelable Term of Leases | Future minimum rental payments resulting from the non-cancelable term of these leases are as follows (in thousands) Year Ending June 30, Amount 2018 $ 78 2019 63 2020 52 2021 47 Total $ 240 |
Future Minimum Commitments for On-line Processing Services | The future minimum commitments for the on-line processing services are as follows (in thousands) Year Ending June 30, Amount (In Thousands) 2018 $ 235 2019 215 Total $ 450 |
Future Minimum Commitments for Employment Contracts | The future minimum commitments for employment contracts are as follows (in thousands) Year Ending June 30, Amount (In Thousands) 2018 $ 274 2019 97 Total $ 371 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Income Taxes [Abstract] | |
Summarized Income Tax Expense | Income tax expense for the years ended June 30, 2017 and 2016 is summarized as follows: 2017 2016 (In Thousands) Current $ 2,151 $ 1,795 Deferred (393 ) (151 ) Total $ 1,758 $ 1,644 |
Reconciliations of Income Tax Expense at Statutory Rate to Company's Effective Rates | Reconciliations of income tax expense at the statutory rate to the Company’s effective rates are as follows: 2017 2016 (In Thousands) Computed at Expected Statutory Rate $ 1,839 $ 1,707 Non-Taxable Income (50 ) (54 ) Other (31 ) (9 ) Provision for Income Tax Expense $ 1,758 $ 1,644 |
Components of Net Deferred Income Tax Asset and Liability | The net deferred income tax asset and liability consisted of the following components at June 30, 2017 and 2016: 2017 2016 (In Thousands) Deferred Tax Assets Market Value Adjustment to Available-for-Sale Securities $ 181 $ -- Stock Option and SERP Compensation 259 166 Loans Receivable - Bad Debt Loss Allowance 1,161 861 Capital Losses 73 110 1,674 1,137 Valuation Allowance (73 ) (110 ) Net Deferred Tax Assets 1,601 1,027 Deferred Tax Liabilities Market Value Adjustment to Available-for-Sale Securities -- (43 ) Net Deferred Tax Assets $ 1,601 $ 984 |
Employee Stock Ownership Plan (
Employee Stock Ownership Plan (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Employee Stock Ownership Plan [Abstract] | |
ESOP Shares | The ESOP shares as of June 30, 2017 and 2016, were as follows: 2017 2016 Allocated and Committed to be Released Shares, Beginning of Year 88,182 77,159 Shares Allocated and Committed to be Released During the Year 11,023 11,023 Unallocated and Unreleased Shares, as of Year End 117,688 128,711 Total ESOP Shares 216,893 216,893 Fair Value of Unreleased Shares (In Thousands) $ 3,172 $ 2,761 Stock Price $ 26.95 $ 21.45 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Stock-Based Compensation [Abstract] | |
Summary of Changes in Restricted Stock | A summary of the changes in restricted stock follows: Awarded Shares 2017 2016 Balance - Beginning of Year 20,730 36,282 Granted -- -- Forfeited -- -- Earned and Issued (15,593 ) (15,552 ) Balance - End of Year 5,137 20,730 |
Summary of Status of Option Plan | Following is a summary of the status of the options outstanding under the Option Plan and Stock Incentive Plan during the fiscal years ended June 30, 2017 and 2016: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value Outstanding at June 30, 2016 304,477 $ 17.79 7.05 Granted -- -- Exercised (3,937 ) 14.70 Forfeited (389) 14.70 Outstanding at June 30, 2017 300,151 $ 17.83 6.07 $ 2,735,976 Options Exercisable at June 30, 2017 202,164 $ 15.70 5.10 $ 2,272,277 Outstanding at June 30, 2015 208,461 $ 15.03 Granted 103,500 23.00 Exercised (7,484 ) 12.86 Forfeited -- -- Outstanding at June 30, 2016 304,477 $ 17.79 7.05 $ 1,274,770 Options Exercisable at June 30, 2016 142,860 $ 14.53 5.57 $ 988,183 |
Assumptions Used in Estimating Fair Value of Each Option Granted | The following assumptions were made in estimating fair value. 2014 Stock Incentive Plan 2011 Option Plan October 26, 2015 July 31, 2014 Dividend Yield 1.39 % 1.50 % Expected Term 10 years 10 years Risk-Free Interest Rate 2.07 % 2.58 % Expected Life 10 years 10 years Expected Volatility 20.38 % 9.56 % |
Summary of Status of Nonvested Options | A summary of the status of the Company’s nonvested options as of June 30, 2017 and changes during the year ended June 30, 2017 is as follows: Number of Shares Weighted Average Exercise Price Nonvested at June 30, 2016 161,617 $ 20.67 Granted -- -- Vested ( 63,241 ) 18.31 Forfeited (389 ) 14.70 Nonvested at June 30, 2017 97,987 $ 22.22 |
Off-Balance Sheet Activities (T
Off-Balance Sheet Activities (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Off-Balance Sheet Activities [Abstract] | |
Financial Instruments Outstanding | At June 30, 2017 and 2016, the following financial instruments were outstanding: Contract Amount 2017 2016 (In Thousands) Commitments to Grant Loans $ 45,679 $ 29,621 Unfunded Commitments Under Lines of Credit 9,905 10,948 $ 55,584 $ 40,569 Fixed Rate Loans (3.25% - 5.00% in 2017; 3.13% - 5.25% in 2016) $ 55,584 $ 40,262 Variable Rate Loans (2.88% - 4.75% in 2016) -- 307 $ 55,584 $ 40,569 |
Related Party Events (Tables)
Related Party Events (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Related Party Events [Abstract] | |
Summarized Analysis of Activity in Loans Made to Borrowers | An analysis of the activity in loans made to such borrowers (both direct and indirect), including lines of credit, is summarized as follows for the years ended June 30, 2017 and 2016: 2017 2016 (In Thousands) Balance – Beginning of Year $ 3,772 $ 3,761 Additions 299 507 Principal Payments (1,229 ) (496 ) Balance – End of Year $ 2,842 $ 3,772 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Regulatory Matters [Abstract] | |
Actual and Required Capital Amounts and Ratios for OCC Regulatory Capital Adequacy Purposes | The Bank’s actual and required capital amounts and ratios for OCC regulatory capital adequacy purposes are presented below as of June 30, 2017 and 2016: Actual Required for Capital Adequacy Purposes Amount Ratio Amount Ratio (Dollars in Thousands) June 30, 2017 Core Capital (1 ) $ 45,977 11.06 % $ 12,475 3.00 % Common Equity Tier 1 (2 ) 45,977 16.14 12,821 4.50 Tangible Capital (1 ) 45,977 11.06 6,237 1.50 Total Risk-Based Capital (2 ) 49,545 17.39 22,793 8.00 June 30, 2016 Core Capital (1 ) $ 42,863 11.81 % $ 10,893 3.00 % Common Equity Tier 1 (2 ) 42,863 16.66 11,574 4.50 Tangible Capital (1 ) 42,863 11.81 5,446 1.50 Total Risk-Based Capital (2 ) 45,708 17.77 20,577 8.00 (1) Amounts and Ratios to Adjusted Total Assets (2) Amounts and Ratios to Total Risk-Weighted Assets |
Actual and Required Capital Amounts and Ratios to be Well Capitalized under Prompt Corrective Action Provisions | The Bank’s actual and required capital amounts and ratios to be well capitalized under prompt corrective action provisions are presented below as of June 30, 2017 and 2016: Actual Required to be Well Capitalized Amount Ratio Amount Ratio (Dollars in Thousands) June 30, 2017 Tier 1 Leverage Capital (1 ) $ 45,977 11.06 % $ 20,790 5.00 % Common Equity Tier 1 (2 ) 45,977 16.14 18,519 6.50 Tier 1 Risk-Based Capital (2 ) 45,977 16.14 22,793 8.00 Total Risk-Based Capital (2 ) 49,545 17.39 28,492 10.00 June 30, 2016 Tier 1 Leverage Capital (1 ) $ 42,863 11.81 % $ 18,154 5.00 % Common Equity Tier 1 (2 ) 42,863 16.66 16,719 6.50 Tier 1 Risk-Based Capital (2 ) 42,863 16.66 20,576 8.00 Total Risk-Based Capital (2 ) 45,708 17.77 25,721 10.00 (1) Amounts and Ratios to Adjusted Total Assets (2) Amounts and Ratios to Total Risk-Weighted Assets |
Actual and Required Capital Amounts and Ratios Applicable to the Bank | The actual and required capital amounts and ratios applicable to the Bank for the years ended June 30, 2017 and 2016 are presented in the following tables, including a reconciliation of capital under generally accepted accounting principles (GAAP) to such amounts reported for regulatory purposes: Actual Minimum for Capital Adequacy Purposes June 30, 2017 Ratio Amount Ratio Amount (Dollars in Thousands) Total Equity, and Ratio to Total Assets 10.96 % $ 45,563 Investments in and Advances to Nonincludable Subsidiaries (119 ) Unrealized Gains on Securities Available-for-Sale 533 Tangible Capital, and Ratio to Adjusted Total Assets 11.06 % $ 45,977 1.50 % $ 6,237 Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets 11.06 % $ 45,977 3.00 % 12,475 Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets 16.14 % 45,977 4.50 % 12,821 Allowance for Loan Losses 3,728 Excess Allowance for Loan Losses (160 ) Total Risk-Based Capital, and Ratio to Risk-Weighted Assets 17.39 % $ 49,545 8.00 % $ 22,793 Total Assets $ 415,652 Adjusted Total Assets $ 415,817 Risk-Weighted Assets $ 284,918 Actual Minimum for Capital Adequacy Purposes June 30, 2016 Ratio Amount Ratio Amount (Dollars in Thousands) Total Equity, and Ratio to Total Assets 11.87 % $ 43,110 Investments in and Advances to Nonincludable Subsidiaries (119 ) Unrealized Gains on Securities Available-for-Sale (128 ) Tangible Capital, and Ratio to Adjusted Total Assets 11.81 % $ 42,863 1.5 % $ 5,446 Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets 11.81 % $ 42,863 3.0 % $ 10,893 Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets 16.66 % 42,863 4.5 % $ 11,574 Allowance for Loan Losses 2,845 Total Risk-Based Capital, and Ratio to Risk-Weighted Assets 17.77 % $ 45,708 8.0 % $ 20,577 Total Assets $ 363,585 Adjusted Total Assets $ 363,088 Risk-Weighted Assets $ 257,211 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Carrying Amount and Estimated Fair Values of Financial Instruments | At June 30, 2017 and 2016, the carrying amount and estimated fair values of the Company’s financial instruments were as follows: 2017 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (In Thousands) Financial Assets Cash and Cash Equivalents $ 11,905 $ 11,905 $ 4,756 $ 4,756 Securities Available-for-Sale 36,935 36,935 50,173 50,173 Securities to be Held-to-Maturity 28,357 27,989 2,349 2,349 Loans Held-for-Sale 13,631 13,631 11,919 11,919 Loans Receivable 312,772 301,741 290,827 290,339 Financial Liabilities Deposits $ 329,045 $ 313,514 $ 287,822 $ 285,503 Advances from FHLB 48,907 48,918 47,665 47,802 Off-Balance Sheet Items Mortgage Loan Commitments $ 457 $ 457 $ 296 $ 296 |
Fair Values of Assets and Liabilities Measured on a Recurring Basis | Fair values of assets and liabilities measured on a recurring basis at June 30, 2017 and 2016 are as follows: Fair Value Measurements June 30, 2017 (Level 1) (Level 2) (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 8,848 $ -- $ 8,848 FNMA -- 19,957 -- 19,957 GNMA -- 8,130 -- 8,130 Total $ -- $ 36,935 $ -- $ 36,935 Fair Value Measurements June 30, 2016 (Level 1) (Level 2) (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 10,793 $ -- $ 10,793 FNMA -- 27,223 -- 27,223 GNMA -- 12,157 -- 12,157 Total $ -- $ 50,173 $ -- $ 50,173 |
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | The following tables present the Company’s assets and liabilities measured at fair value on a non-recurring basis at June 30, 2017 and 2016. Fair Value Measurements June 30, 2017 (Level 1) (Level 2) (Level 3) Total (In Thousands) Assets: Impaired Loans, Net of Allowance $ -- $ -- $ 282 $ 282 Other Real Estate Owned -- -- 540 -- Total $ -- $ -- $ 822 $ 282 Fair Value Measurements June 30, 2016 (Level 1) (Level 2) (Level 3) Total (In Thousands) Assets: Impaired Loans, Net of Allowance $ -- $ -- $ 13 $ 13 Total $ -- $ -- $ 13 $ 13 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Earnings Per Common Share [Abstract] | |
Components of Weighted Average Outstanding Shares | The following table presents the components of average outstanding common shares for the years ended June 30, 2017 and 2016: 2017 2016 Average Common Shares Issued 1,957,859 2,045,179 Average Unearned ESOP Shares (127,254 ) (138,784 ) Average Unearned RRP Trust Shares (13,456 ) (29,007 ) Weighted Average Number of Common Shares Used in Basic EPS 1,817,149 1,877,388 Effect of Dilutive Securities Stock Options 92,318 64,314 Weighted Average Number of Common Shares and Dilutive Potential Common Shares Used in Dilutive EPS 1,909,467 1,941,702 |
Parent Company Financial Stat46
Parent Company Financial Statements (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Parent Company Financial Statements [Abstract] | |
Condensed Balance Sheets | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Balance Sheets June 30, 2017 and 2016 June 30, 2017 2016 (In Thousands) Assets Cash and Cash Equivalents $ 197 $ 90 Investment in Subsidiary 45,813 43,360 Other Assets 275 409 Total Assets $ 46,285 $ 43,859 Liabilities and Stockholders' Equity Borrowings $ -- $ 400 Other Liabilities 39 67 Stockholders' Equity 46,246 43,392 Total Liabilities and Stockholders' Equity $ 46,285 $ 43,859 |
Condensed Statements of Operations | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Operations For the Years Ended June 30, 2017 and 2016 For the Years Ended June 30, 2017 2016 (In Thousands) Equity in Undistributed Earnings of Subsidiary $ 3,888 $ 3,612 Interest Income 80 85 Total Income 3,968 3,697 Operating Expenses 424 423 Interest Expense 14 18 Total Expense 438 441 Income Before Income Tax Benefit 3,530 3,256 Income Tax Benefit (122 ) (121 ) Net Income $ 3,652 $ 3,377 |
Condensed Statements of Cash Flows | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Cash Flows For the Years Ended June 30, 2017 and 2016 For the Years Ended June 30, 2017 2016 (In Thousands) Operating Activities Net Income $ 3,652 $ 3,377 Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities (3,888 ) (3,612 ) Decrease (Increase) in Other Assets 134 (162 ) (Decrease) Increase in Other Liabilities (28 ) 54 Net Cash Used in Operating Activities (130 ) (343 ) Financing Activities Distribution from Subsidiary 1,000 3,000 Proceeds from Stock Options Exercised 61 85 Proceeds of Borrowings 300 2,200 Repayment of Borrowings (700 ) (1,800 ) Proceeds Received from Subsidiary on Stock Compensation Programs Company Stock Purchased (645 ) (3,353 ) Dividends Paid (705 ) (660 ) Net Cash Provided by Financing Activities 237 45 Increase (Decrease) in Cash and Cash Equivalents 107 (298 ) Cash and Cash Equivalents, Beginning of Year 90 388 Cash and Cash Equivalents, End of Year $ 197 $ 90 |
Summary of Significant Accoun47
Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands | Dec. 22, 2010USD ($)$ / sharesshares | Jun. 30, 2017USD ($)Branch$ / shares | Jun. 30, 2016USD ($)$ / shares | Jun. 30, 2015USD ($) |
Nature of Operations [Abstract] | ||||
Exchange ratio of common stock | 0.9110 | |||
Common stock shares issued in exchange (in shares) | shares | 1,100,609 | |||
Common stock shares sold in subscription (in shares) | shares | 1,945,220 | |||
Common stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | |
Common stock sold (in dollars per share) | $ / shares | $ 10 | |||
Common stock subscriptions value | $ 19,500 | |||
Net proceeds of offerings | $ 18,000 | |||
Schedule of Branch By Locations [Line Items] | ||||
Number of branch offices that provide services | Branch | 6 | |||
Cash and Cash Equivalents [Abstract] | ||||
Cash on Hand | $ 871 | $ 2,027 | ||
Demand Deposits at Other Institutions | 5,259 | 2,529 | ||
Federal Funds Sold | 5,775 | 200 | ||
Total | 11,905 | 4,756 | $ 21,166 | |
Securities [Abstract] | ||||
Trading securities | 0 | 0 | ||
Non-Direct Response Advertising [Abstract] | ||||
Non-direct response advertising costs | 423 | 236 | ||
Direct-response advertising costs | 0 | 0 | ||
Other comprehensive income (loss), net of tax [Abstract] | ||||
Unrealized Holding Loss on Available-for-Sale Securities | (660) | (24) | ||
Tax Effect | 224 | 8 | ||
Net-of-Tax Amount | (436) | (16) | ||
Components of accumulated other comprehensive income included in Stockholders' Equity [Abstract] | ||||
Net Unrealized (Loss) Gain on Securities Available-for-Sale | (533) | 128 | ||
Tax Effect | 181 | (44) | ||
Net-of-Tax Amount | $ (352) | $ 84 | ||
Concentrations of Credit Risk [Member] | ||||
Schedule of Branch By Locations [Line Items] | ||||
Number of branch offices that provide services | Branch | 6 | |||
Buildings and Improvements [Member] | Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful lives | 10 years | |||
Buildings and Improvements [Member] | Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful lives | 40 years | |||
Furniture and Equipment [Member] | Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful lives | 3 years | |||
Furniture and Equipment [Member] | Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful lives | 10 years | |||
Shreveport [Member] | ||||
Schedule of Branch By Locations [Line Items] | ||||
Number of branch offices that provide services | Branch | 4 | |||
Shreveport [Member] | Concentrations of Credit Risk [Member] | ||||
Schedule of Branch By Locations [Line Items] | ||||
Number of branch offices that provide services | Branch | 4 | |||
Bossier City [Member] | ||||
Schedule of Branch By Locations [Line Items] | ||||
Number of branch offices that provide services | Branch | 2 | |||
Bossier City [Member] | Concentrations of Credit Risk [Member] | ||||
Schedule of Branch By Locations [Line Items] | ||||
Number of branch offices that provide services | Branch | 2 |
Securities, Amortized Cost and
Securities, Amortized Cost and Fair Value of Securities, with Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 37,468 | $ 50,045 |
Gross Unrealized Gains | 264 | 629 |
Gross Unrealized Losses | 797 | 501 |
Fair Value | 36,935 | 50,173 |
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 37,468 | 50,045 |
Gross Unrealized Gains | 264 | 629 |
Gross Unrealized Losses | 797 | 501 |
Fair Value | 36,935 | 50,173 |
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 28,357 | 2,349 |
Gross Unrealized Gains | 2 | 0 |
Gross Unrealized Losses | 370 | 0 |
Fair Value | 27,989 | 2,349 |
FNMA Mortgage-Backed Certificates [Member] | ||
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 25,558 | |
Gross Unrealized Gains | 2 | |
Gross Unrealized Losses | 370 | |
Fair Value | 25,190 | |
Equity Securities (Non-Marketable) [Member] | ||
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 2,799 | 2,349 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 2,799 | 2,349 |
Federal Home Loan Bank [Member] | ||
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 2,549 | 2,099 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 2,549 | $ 2,099 |
Number of equity shares (in shares) | 25,488 | 20,989 |
First National Bankers Bankshares, Inc. [Member] | ||
Held-to-maturity Securities, Fair Value to 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 shares (in shares) | 630 | 630 |
FHLMC Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 9,140 | $ 10,928 |
Gross Unrealized Gains | 5 | 12 |
Gross Unrealized Losses | 297 | 147 |
Fair Value | 8,848 | 10,793 |
FNMA Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 19,986 | 26,610 |
Gross Unrealized Gains | 256 | 613 |
Gross Unrealized Losses | 285 | 0 |
Fair Value | 19,957 | 27,223 |
GNMA Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract] | ||
Amortized Cost | 8,342 | 12,507 |
Gross Unrealized Gains | 3 | 4 |
Gross Unrealized Losses | 215 | 354 |
Fair Value | $ 8,130 | $ 12,157 |
Securities, Securities by Contr
Securities, Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Available-for-Sale, Amortized Cost [Abstract] | ||
Within One Year or Less | $ 10 | |
One through Five Years | 60 | |
After Five through Ten Years | 43 | |
Over Ten Years | 37,355 | |
Amortized Cost | 37,468 | $ 50,045 |
Other Equity Securities | 0 | |
Amortized Cost | 37,468 | 50,045 |
Available-for-Sale, Fair Value [Abstract] | ||
Within One Year or Less | 11 | |
One through Five Years | 61 | |
After Five through Ten Years | 43 | |
Over Ten Years | 36,820 | |
Fair Value | 36,935 | 50,173 |
Other Equity Securities | 0 | |
Fair Value | 36,935 | 50,173 |
Proceeds from sale of securities available-for-sale | 0 | 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 | 25,558 | |
Amortized Cost | 25,558 | |
Other Equity Securities | 2,799 | |
Amortized Cost | 28,357 | 2,349 |
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 | 25,190 | |
Fair Value | 25,190 | |
Other Equity Securities | 2,799 | |
Fair Value | $ 27,989 | $ 2,349 |
Securities, Securities with Gro
Securities, Securities with Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Securities Available-for-sale Securities, Gross Unrealized Losses [Abstract] | ||
Less Than Twelve Months | $ 144 | $ 147 |
Over Twelve Months | 653 | 354 |
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Less Than Twelve Months | 10,278 | 17,852 |
Over Twelve Months | 21,719 | 12,066 |
Public Deposits [Member] | ||
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Securities pledged with carrying value | 303 | 1,200 |
FHLB Advances [Member] | ||
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Securities pledged with carrying value | 145,700 | 127,000 |
Mortgage-Backed Securities [Member] | ||
Securities Available-for-sale Securities, Gross Unrealized Losses [Abstract] | ||
Less Than Twelve Months | 144 | 147 |
Over Twelve Months | 653 | 354 |
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Less Than Twelve Months | 10,278 | 17,852 |
Over Twelve Months | 21,719 | 12,066 |
Marketable Equity Securities [Member] | ||
Securities Available-for-sale Securities, Gross Unrealized Losses [Abstract] | ||
Less Than Twelve Months | 0 | 0 |
Over Twelve Months | 0 | 0 |
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Less Than Twelve Months | 0 | 0 |
Over Twelve Months | $ 0 | $ 0 |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Loan receivable [Abstract] | |||
Total Loans | $ 316,697 | $ 293,835 | |
Less: Allowance for Loan Losses | (3,729) | (2,845) | $ (2,515) |
Unamortized Loan Fees | (196) | (163) | |
Net Loans Receivable | 312,772 | 290,827 | |
Loans Secured by Mortgages on Real Estate Loans [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 281,785 | 265,459 | |
Loans Secured by Mortgages on Real Estate Loans [Member] | One-to-Four Family Residential [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 125,306 | 118,035 | |
Loans Secured by Mortgages on Real Estate Loans [Member] | Commercial [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 77,945 | 69,197 | |
Less: Allowance for Loan Losses | (353) | (321) | (415) |
Loans Secured by Mortgages on Real Estate Loans [Member] | Multi-Family Residential [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 21,281 | 20,661 | |
Less: Allowance for Loan Losses | (73) | (111) | (103) |
Loans Secured by Mortgages on Real Estate Loans [Member] | Land [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 25,038 | 24,308 | |
Less: Allowance for Loan Losses | (203) | (201) | (154) |
Loans Secured by Mortgages on Real Estate Loans [Member] | Construction [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 9,529 | 14,442 | |
Less: Allowance for Loan Losses | (147) | (126) | (146) |
Loans Secured by Mortgages on Real Estate Loans [Member] | Equity and Second Mortgage [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 1,710 | 1,526 | |
Loans Secured by Mortgages on Real Estate Loans [Member] | Equity Lines of Credit [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 20,976 | 17,290 | |
Commercial Loans [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 34,429 | 27,886 | |
Less: Allowance for Loan Losses | (979) | (444) | (305) |
Consumer Loans [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 483 | 490 | |
Less: Allowance for Loan Losses | (10) | (8) | $ (5) |
Consumer Loans [Member] | Loans on Savings Accounts [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 420 | 404 | |
Consumer Loans [Member] | Other Consumer Loans [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | $ 63 | $ 86 |
Loans Receivable, Analysis of A
Loans Receivable, Analysis of Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Summary of changes in the allowance for loan losses [Roll Forward] | ||
Beginning Balances | $ 2,845 | $ 2,515 |
Provision for Loan Losses | 900 | 271 |
Recoveries | 14 | 59 |
Loan Charge-Offs | (30) | 0 |
Ending Balances | $ 3,729 | $ 2,845 |
Loans Receivable, Fixed Rate Lo
Loans Receivable, Fixed Rate Loans Receivable (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Fixed rate loans receivable [Abstract] | |
Fixed rate loans receivable, Under One Year | $ 105,473 |
Fixed rate loans receivable, Over One to Five Years | 102,577 |
Fixed rate loans receivable, Over Five to Ten Years | 57,688 |
Fixed rate loans receivable, Over Ten Years | 50,959 |
Fixed rate loans receivable, Total | 316,697 |
One-to-Four Family Residential [Member] | Fixed Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Fixed rate loans receivable, Under One Year | 15,145 |
Fixed rate loans receivable, Over One to Five Years | 35,540 |
Fixed rate loans receivable, Over Five to Ten Years | 14,944 |
Fixed rate loans receivable, Over Ten Years | 36,108 |
Fixed rate loans receivable, Total | 101,737 |
One-to-Four Family Residential [Member] | Adjustable Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Fixed rate loans receivable, Under One Year | 1,556 |
Fixed rate loans receivable, Over One to Five Years | 7,135 |
Fixed rate loans receivable, Over Five to Ten Years | 7,288 |
Fixed rate loans receivable, Over Ten Years | 7,590 |
Fixed rate loans receivable, Total | 23,569 |
Other Loans Secured by Real Estate [Member] | Fixed Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Fixed rate loans receivable, Under One Year | 12,604 |
Fixed rate loans receivable, Over One to Five Years | 46,991 |
Fixed rate loans receivable, Over Five to Ten Years | 32,293 |
Fixed rate loans receivable, Over Ten Years | 7,261 |
Fixed rate loans receivable, Total | 99,149 |
Other Loans Secured by Real Estate [Member] | Adjustable Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Fixed rate loans receivable, Under One Year | 57,233 |
Fixed rate loans receivable, Over One to Five Years | 97 |
Fixed rate loans receivable, Over Five to Ten Years | 0 |
Fixed rate loans receivable, Over Ten Years | 0 |
Fixed rate loans receivable, Total | 57,330 |
All Other Loans [Member] | Fixed Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Fixed rate loans receivable, Under One Year | 2,259 |
Fixed rate loans receivable, Over One to Five Years | 12,814 |
Fixed rate loans receivable, Over Five to Ten Years | 3,163 |
Fixed rate loans receivable, Over Ten Years | 0 |
Fixed rate loans receivable, Total | 18,236 |
All Other Loans [Member] | Adjustable Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Fixed rate loans receivable, Under One Year | 16,676 |
Fixed rate loans receivable, Over One to Five Years | 0 |
Fixed rate loans receivable, Over Five to Ten Years | 0 |
Fixed rate loans receivable, Over Ten Years | 0 |
Fixed rate loans receivable, Total | $ 16,676 |
Loans Receivable, Credit Qualit
Loans Receivable, Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 316,697 | $ 293,835 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 312,653 | 290,838 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 723 | 625 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,311 | 2,372 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 281,785 | 265,459 |
Real Estate Loans [Member] | One-to-Four Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 125,306 | 118,035 |
Real Estate Loans [Member] | One-to-Four Family Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 124,450 | 117,881 |
Real Estate Loans [Member] | One-to-Four Family Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 303 | 40 |
Real Estate Loans [Member] | One-to-Four Family Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 553 | 114 |
Real Estate Loans [Member] | One-to-Four Family Residential [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 77,945 | 69,197 |
Real Estate Loans [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 77,690 | 68,899 |
Real Estate Loans [Member] | Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 30 |
Real Estate Loans [Member] | Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 255 | 268 |
Real Estate Loans [Member] | Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 21,281 | 20,661 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 21,281 | 20,661 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 25,038 | 24,308 |
Real Estate Loans [Member] | Land [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 24,915 | 23,753 |
Real Estate Loans [Member] | Land [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 123 | 555 |
Real Estate Loans [Member] | Land [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 9,529 | 14,442 |
Real Estate Loans [Member] | Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 9,232 | 14,442 |
Real Estate Loans [Member] | Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 297 | 0 |
Real Estate Loans [Member] | Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,710 | 1,526 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,710 | 1,526 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 20,976 | 17,290 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 20,976 | 17,290 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 34,429 | 27,886 |
Commercial Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 31,916 | 25,896 |
Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,503 | 1,990 |
Commercial Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 483 | 490 |
Consumer Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 483 | 490 |
Consumer Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Consumer Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Consumer Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 0 | $ 0 |
Loans Receivable, Aging Analysi
Loans Receivable, Aging Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | $ 5,371 | $ 5,082 |
Current | 311,326 | 288,753 |
Total Loans Receivable | 316,697 | 293,835 |
Recorded Investment > 90 Days and Accruing | 185 | 101 |
30-59 Days Past Due [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 1,852 | 2,724 |
60-89 Days Past Due [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 350 | 2,244 |
90 Days or More [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 3,169 | 114 |
Real Estate Loans [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Loans Receivable | 281,785 | 265,459 |
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 | 2,662 | 4,434 |
Current | 122,644 | 113,601 |
Total Loans Receivable | 125,306 | 118,035 |
Recorded Investment > 90 Days and Accruing | 181 | 101 |
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 | 1,650 | 2,646 |
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 | 350 | 1,674 |
Real Estate Loans [Member] | One-to-Four Family Residential [Member] | 90 Days or More [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 662 | 114 |
Real Estate Loans [Member] | Commercial [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 8 | 0 |
Current | 77,937 | 69,197 |
Total Loans Receivable | 77,945 | 69,197 |
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 | 8 | 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] | 90 Days or More [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 | 21,281 | 20,661 |
Total Loans Receivable | 21,281 | 20,661 |
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] | 90 Days or More [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 | 555 |
Current | 25,038 | 23,753 |
Total Loans Receivable | 25,038 | 24,308 |
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 | 555 |
Real Estate Loans [Member] | Land [Member] | 90 Days or More [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 | 9,529 | 14,442 |
Total Loans Receivable | 9,529 | 14,442 |
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] | 90 Days or More [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 | 1,710 | 1,526 |
Total Loans Receivable | 1,710 | 1,526 |
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] | 90 Days or More [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 | 198 | 93 |
Current | 20,778 | 17,197 |
Total Loans Receivable | 20,976 | 17,290 |
Recorded Investment > 90 Days and Accruing | 4 | 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 | 194 | 78 |
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 | 15 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | 90 Days or More [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 4 | 0 |
Commercial Loans [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 2,503 | 0 |
Current | 31,926 | 27,886 |
Total Loans Receivable | 34,429 | 27,886 |
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] | 90 Days or More [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 2,503 | 0 |
Consumer Loans [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 0 | 0 |
Current | 483 | 490 |
Total Loans Receivable | 483 | 490 |
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 | 0 |
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] | 90 Days or More [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 | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | $ 2,845 | $ 2,515 |
Charge-Offs | (30) | 0 |
Recoveries | 14 | 59 |
Current Provision | 900 | 271 |
Ending Balances | 3,729 | 2,845 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 3,729 | 2,845 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 316,697 | 293,835 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 4,044 | 2,997 |
Collectively | 312,653 | 290,838 |
Real Estate Loans [Member] | ||
Loans Receivable [Abstract] | ||
Total Loans Receivable | 281,785 | 265,459 |
Real Estate Loans [Member] | Residential [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 1,517 | 1,195 |
Charge-Offs | 0 | 0 |
Recoveries | 14 | 59 |
Current Provision | 291 | 263 |
Ending Balances | 1,822 | 1,517 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 1,822 | 1,517 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 125,306 | 118,035 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 856 | 154 |
Collectively | 124,450 | 117,881 |
Real Estate Loans [Member] | Commercial [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 321 | 415 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Current Provision | 32 | (94) |
Ending Balances | 353 | 321 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 353 | 321 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 77,945 | 69,197 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 255 | 298 |
Collectively | 77,690 | 68,899 |
Real Estate Loans [Member] | Multi-Family [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 111 | 103 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Current Provision | (38) | 8 |
Ending Balances | 73 | 111 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 73 | 111 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 21,281 | 20,661 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 0 | 0 |
Collectively | 21,281 | 20,661 |
Real Estate Loans [Member] | Land [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 201 | 154 |
Charge-Offs | (16) | 0 |
Recoveries | 0 | 0 |
Current Provision | 18 | 47 |
Ending Balances | 203 | 201 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 203 | 201 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 25,038 | 24,308 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 123 | 555 |
Collectively | 24,915 | 23,753 |
Real Estate Loans [Member] | Construction [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 126 | 146 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Current Provision | 21 | (20) |
Ending Balances | 147 | 126 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 147 | 126 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 9,529 | 14,442 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 297 | 0 |
Collectively | 9,232 | 14,442 |
Real Estate Loans [Member] | Other [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 117 | 192 |
Charge-Offs | (14) | 0 |
Recoveries | 0 | 0 |
Current Provision | 39 | (75) |
Ending Balances | 142 | 117 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 142 | 117 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 22,686 | 18,816 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 0 | 0 |
Collectively | 22,686 | 18,816 |
Commercial Loans [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 444 | 305 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Current Provision | 535 | 139 |
Ending Balances | 979 | 444 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 979 | 444 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 34,429 | 27,886 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 2,513 | 1,990 |
Collectively | 31,916 | 25,896 |
Consumer Loans [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 8 | 5 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Current Provision | 2 | 3 |
Ending Balances | 10 | 8 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 10 | 8 |
Loans Receivable [Abstract] | ||
Total Loans Receivable | 483 | 490 |
Evaluated for Impairment, Ending Balances [Abstract] | ||
Individually | 0 | 0 |
Collectively | $ 483 | $ 490 |
Loans Receivable, Loans Individ
Loans Receivable, Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | $ 4,044 | $ 2,997 |
Recorded Investment With No Allowance | 4,044 | 2,997 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 4,044 | 2,997 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 4,195 | 3,482 |
Real Estate Loans [Member] | One-to-Four Family Residential [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 856 | 154 |
Recorded Investment With No Allowance | 856 | 154 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 856 | 154 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 861 | 162 |
Real Estate Loans [Member] | Commercial [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 255 | 298 |
Recorded Investment With No Allowance | 255 | 298 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 255 | 298 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 261 | 274 |
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 | 123 | 555 |
Recorded Investment With No Allowance | 123 | 555 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 123 | 555 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 125 | 586 |
Real Estate Loans [Member] | Construction [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 297 | 0 |
Recorded Investment With No Allowance | 297 | 0 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 297 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 299 | 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 | 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 |
Commercial Loans [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 2,513 | 1,990 |
Recorded Investment With No Allowance | 2,513 | 1,990 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 2,513 | 1,990 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,649 | 2,460 |
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 |
Loans Receivable, Troubled Debt
Loans Receivable, Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Commitments to loan additional funds to borrowers whose loans were previously in non-accrual status | $ 0 | $ 0 |
Commercial Business Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | $ 1,717 | $ 1,989 |
Commercial Business Loans [Member] | Interest Rate and Payment Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 2 | 1 |
Pre-modification recorded investment | $ 4,700 | $ 2,000 |
Troubled debt restructurings that subsequently defaulted, recorded investment | 2,900 | 1,900 |
Commercial Business Loans [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 1,717 | 0 |
Commercial Business Loans [Member] | Current [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 1,989 |
Commercial Business Loans [Member] | Past Due Greater than 30 Days [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | $ 1,717 | $ 0 |
Loans Receivable, Impaired Loan
Loans Receivable, Impaired Loans Segregated by Class of Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Interest foregone on non accrual loans | $ 79 | $ 1 |
Loan receivables on nonaccrual status | 2,820 | 2,003 |
Real Estate Loans [Member] | One-to-Four Family Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | 317 | 13 |
Real Estate Loans [Member] | Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Real Estate Loans [Member] | Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | 2,503 | 1,990 |
Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loan receivables on nonaccrual status | $ 0 | $ 0 |
Accrued Interest Receivable (De
Accrued Interest Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Accrued Interest Receivable [Line Items] | ||
Total | $ 1,094 | $ 1,024 |
Mortgage Loans [Member] | ||
Accrued Interest Receivable [Line Items] | ||
Total | 760 | 872 |
Other Loans [Member] | ||
Accrued Interest Receivable [Line Items] | ||
Total | 215 | 58 |
Investments [Member] | ||
Accrued Interest Receivable [Line Items] | ||
Total | 3 | 3 |
Mortgage-Backed Securities [Member] | ||
Accrued Interest Receivable [Line Items] | ||
Total | $ 116 | $ 91 |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | $ 14,994 | $ 14,665 |
Accumulated Depreciation | (2,775) | (2,299) |
Total | 12,219 | 12,366 |
Depreciation expense | 505 | 441 |
Land [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 3,746 | 4,043 |
Buildings [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 8,494 | 8,328 |
Equipment [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 1,447 | 1,368 |
Construction in Progress [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | $ 1,307 | $ 926 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Rate [Abstract] | ||
Non-Interest Bearing | 0.00% | 0.00% |
NOW Accounts | 0.55% | 0.58% |
Money Market | 0.36% | 0.32% |
Passbook Savings | 0.52% | 0.42% |
Certificates of Deposit | 1.37% | 1.26% |
Amount [Abstract] | ||
Non-Interest Bearing | $ 54,420 | $ 39,280 |
NOW Accounts | 34,500 | 37,761 |
Money Markets | 42,439 | 49,251 |
Passbook Savings | 35,050 | 29,033 |
Total transaction accounts | 166,409 | 155,325 |
Certificates of Deposit | 162,636 | 132,497 |
Total Deposits | $ 329,045 | $ 287,822 |
Percent [Abstract] | ||
Non-Interest Bearing | 16.54% | 13.65% |
NOW Accounts | 10.48% | 13.12% |
Money Market | 12.90% | 17.11% |
Passbook Savings | 10.65% | 10.09% |
Total transaction accounts | 50.57% | 53.97% |
Certificates of Deposit | 49.43% | 46.03% |
Total Deposits | 100.00% | 100.00% |
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 162,636 | $ 132,497 |
Total Deposits, Percent | 100.00% | 100.00% |
Amount [Abstract] | ||
2,018 | $ 68,488 | |
2,019 | 32,101 | |
2,020 | 36,332 | |
2,021 | 11,901 | |
2,022 | 13,017 | |
2,023 | 797 | |
Total | $ 162,636 | $ 132,497 |
Percent [Abstract] | ||
2,018 | 42.11% | |
2,019 | 19.74% | |
2,020 | 22.34% | |
2,021 | 7.32% | |
2,022 | 8.00% | |
2,023 | 0.49% | |
Total | 100.00% | 100.00% |
Weighted Average Rate [Abstract] | ||
2,017 | 1.02% | |
2,018 | 1.38% | |
2,019 | 1.74% | |
2,020 | 1.62% | |
2,021 | 1.93% | |
2,022 | 1.98% | |
Total | 1.37% | |
Interest expense on deposits [Abstract] | ||
NOW and Money Market | $ 335 | $ 431 |
Passbook Savings | 160 | 93 |
Certificates of Deposits | 1,861 | 1,805 |
Total | 2,356 | 2,329 |
Aggregate amount of time deposits in denominations of $100,000 or more | 113,200 | 85,700 |
Brokered certificates of deposits | $ 11,500 | 8,200 |
Period of brokered certificate of deposits | 12 months | |
0.00% to 0.99% [Member] | ||
Amount [Abstract] | ||
Certificates of Deposit | $ 28,293 | 46,544 |
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 28,293 | $ 46,544 |
Total Deposits, Percent | 17.40% | 35.13% |
Amount [Abstract] | ||
Total | $ 28,293 | $ 46,544 |
Percent [Abstract] | ||
Total | 17.40% | 35.13% |
0.00% to 0.99% [Member] | Minimum [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Contract rate | 0.00% | |
0.00% to 0.99% [Member] | Maximum [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Contract rate | 0.99% | |
1.00% to 1.99% [Member] | ||
Amount [Abstract] | ||
Certificates of Deposit | $ 123,037 | $ 70,606 |
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 123,037 | $ 70,606 |
Total Deposits, Percent | 75.65% | 53.29% |
Amount [Abstract] | ||
Total | $ 123,037 | $ 70,606 |
Percent [Abstract] | ||
Total | 75.65% | 53.29% |
1.00% to 1.99% [Member] | Minimum [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Contract rate | 1.00% | |
1.00% to 1.99% [Member] | Maximum [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Contract rate | 1.99% | |
2.00% to 2.99% [Member] | ||
Amount [Abstract] | ||
Certificates of Deposit | $ 11,306 | $ 14,961 |
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 11,306 | $ 14,961 |
Total Deposits, Percent | 6.95% | 11.29% |
Amount [Abstract] | ||
Total | $ 11,306 | $ 14,961 |
Percent [Abstract] | ||
Total | 6.95% | 11.29% |
2.00% to 2.99% [Member] | Minimum [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Contract rate | 2.00% | |
2.00% to 2.99% [Member] | Maximum [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Contract rate | 2.99% | |
3.00% to 3.99 [Member] | ||
Amount [Abstract] | ||
Certificates of Deposit | $ 0 | $ 386 |
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 0 | $ 386 |
Total Deposits, Percent | 0.00% | 0.29% |
Amount [Abstract] | ||
Total | $ 0 | $ 386 |
Percent [Abstract] | ||
Total | 0.00% | 0.29% |
3.00% to 3.99 [Member] | Minimum [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Contract rate | 3.00% | |
3.00% to 3.99 [Member] | Maximum [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Contract rate | 3.99% |
Advances from Federal Home Lo63
Advances from Federal Home Loan Bank of Dallas (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Advances from Federal Home Loan Bank of Dallas [Abstract] | ||
Total interest expense recognized | $ 433 | $ 263 |
Advances [Abstract] | ||
Advances from Federal Home Loan Bank of Dallas, Total | 48,907 | 47,665 |
Maturities of advances [Abstract] | ||
2,018 | 37,270 | |
2,019 | 5,282 | |
2,020 | 5,295 | |
2,021 | 193 | |
2,022 | 35 | |
Thereafter | 832 | |
Total | 48,907 | |
0.00% to 0.99% [Member] | ||
Advances [Abstract] | ||
Advances from Federal Home Loan Bank of Dallas, Total | $ 5,000 | 41,500 |
0.00% to 0.99% [Member] | Minimum [Member] | ||
Advances [Abstract] | ||
Contract rate | 0.00% | |
0.00% to 0.99% [Member] | Maximum [Member] | ||
Advances [Abstract] | ||
Contract rate | 0.99% | |
1.00% to 1.99% [Member] | ||
Advances [Abstract] | ||
Advances from Federal Home Loan Bank of Dallas, Total | $ 42,000 | 4,000 |
1.00% to 1.99% [Member] | Minimum [Member] | ||
Advances [Abstract] | ||
Contract rate | 1.00% | |
1.00% to 1.99% [Member] | Maximum [Member] | ||
Advances [Abstract] | ||
Contract rate | 1.99% | |
2.00% to 2.99% [Member] | ||
Advances [Abstract] | ||
Advances from Federal Home Loan Bank of Dallas, Total | $ 0 | 0 |
2.00% to 2.99% [Member] | Minimum [Member] | ||
Advances [Abstract] | ||
Contract rate | 2.00% | |
2.00% to 2.99% [Member] | Maximum [Member] | ||
Advances [Abstract] | ||
Contract rate | 2.99% | |
3.00% to 3.99 [Member] | ||
Advances [Abstract] | ||
Advances from Federal Home Loan Bank of Dallas, Total | $ 0 | 0 |
3.00% to 3.99 [Member] | Minimum [Member] | ||
Advances [Abstract] | ||
Contract rate | 3.00% | |
3.00% to 3.99 [Member] | Maximum [Member] | ||
Advances [Abstract] | ||
Contract rate | 3.99% | |
4.00% to 4.99% [Member] | ||
Advances [Abstract] | ||
Advances from Federal Home Loan Bank of Dallas, Total | $ 1,907 | $ 2,165 |
4.00% to 4.99% [Member] | Minimum [Member] | ||
Advances [Abstract] | ||
Contract rate | 4.00% | |
4.00% to 4.99% [Member] | Maximum [Member] | ||
Advances [Abstract] | ||
Contract rate | 4.99% |
Other Borrowings (Details)
Other Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Other Borrowings [Abstract] | ||
Amount available under line of credit agreement | $ 3,000 | |
Line of credit facility, maturing date | Jun. 29, 2018 | |
Line of credit secured by shares (in shares) | 100 | |
Initial interest rate of secured line of credit during period | 3.50% | |
Line of credit outstanding | $ 0 | $ 400 |
Line of credit, interest expense | $ 14 | $ 18 |
Commitments (Details)
Commitments (Details) | 12 Months Ended | |
Jun. 30, 2017USD ($)Branch | Jun. 30, 2016USD ($) | |
Lease Commitments [Abstract] | ||
Number of branch facilities leased | Branch | 2 | |
Future minimum rental payments resulting from non-cancelable term of leases [Abstract] | ||
2,018 | $ 78,000 | |
2,019 | 63,000 | |
2,020 | 52,000 | |
2,021 | 47,000 | |
Total | 240,000 | |
Total rent expense paid under the terms of leases | 84,000 | $ 81,000 |
Contractual Commitment [Abstract] | ||
Minimum monthly on-line data processing service charge | $ 19,548 | |
Number of successive periods an agreement will continue | 5 years | |
Number of months required prior to termination of agreement, minimum | 6 months | |
Future minimum commitments for on-line processing services [Abstract] | ||
2,018 | $ 235,000 | |
2,019 | 215,000 | |
Total | 450,000 | |
Future minimum commitments for employment contracts [Abstract] | ||
2,018 | 274,000 | |
2,019 | 97,000 | |
Total | 371,000 | |
Federal Home Loan Bank [Member] | ||
Letter of Credit [Abstract] | ||
Letter of credit outstanding | 21,700,000 | |
Outstanding borrowings associated with letters of credit | $ 0 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Summarized income tax expense [Abstract] | ||
Current | $ 2,151 | $ 1,795 |
Deferred | (393) | (151) |
Total | $ 1,758 | $ 1,644 |
Effective federal income tax rate | 32.50% | 32.70% |
Reconciliations of income tax expense at the statutory rate [Abstract] | ||
Computed at Expected Statutory Rate | $ 1,839 | $ 1,707 |
Non-Taxable Income | (50) | (54) |
Other | (31) | (9) |
Total | 1,758 | 1,644 |
Deferred Tax Assets [Abstract] | ||
Market Value Adjustment to Available-for-Sale Securities | 181 | 0 |
Stock Option and SERP Compensation | 259 | 166 |
Loans Receivable - Bad Debt Loss Allowance | 1,161 | 861 |
Capital Losses | 73 | 110 |
Gross Deferred Tax Assets | 1,674 | 1,137 |
Valuation Allowance | (73) | (110) |
Net Deferred Tax Assets | 1,601 | 1,027 |
Deferred Tax Liabilities [Abstract] | ||
Market Value Adjustment to Available-for-Sale Securities | 0 | (43) |
Net Deferred Tax Assets | 1,601 | 984 |
Retained earnings appropriated to federal insurance reserve | 3,300 | 3,300 |
Unrecorded deferred income tax liability | $ 1,100 | $ 1,100 |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) | 12 Months Ended | |
Jun. 30, 2017USD ($)Age | Jun. 30, 2016USD ($) | |
Employee Benefit Plans [Abstract] | ||
Number of months after which employees eligible to participate in defined contribution plan, minimum | 12 months | |
Attainable age for employees to participate in defined contribution plan, minimum | Age | 21 | |
Participating employees contribution of their eligible compensation | $ 18,000 | |
Contribution of participant plan salary, percentage | 3.00% | |
Bank matching contribution of first 6% of plan salary elective deferrals, percentage | 50.00% | |
Pension costs including administrative fees | $ 149,000 | $ 149,000 |
Amount of obligations requiring accrual for plan | 0 | 0 |
SERP [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Compensation expense | 147,224 | $ 142,246 |
Future compensation expense per year through December 2017 | 85,000 | |
SERP [Member] | Chief Executive Officer [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Retirement benefits payable in equal quarterly installments | $ 75,000 | |
Number of consecutive years for which retirement benefits will be payable | 8 years | |
Vesting percentage considered for additional year of service | 100.00% | |
Period considered for vesting | 5 years | |
Annual vesting percentage | 20.00% | |
Period considered for lump sum payment | 30 days | |
SERP [Member] | Chief Financial Officer [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Retirement benefits payable in equal quarterly installments | $ 25,000 | |
Number of consecutive years for which retirement benefits will be payable | 10 years | |
Vesting percentage considered for additional year of service | 100.00% | |
Period considered for vesting | 5 years | |
Annual vesting percentage | 20.00% | |
Period considered for lump sum payment | 30 days |
Employee Stock Ownership Plan68
Employee Stock Ownership Plan (Details) | 12 Months Ended | ||
Jun. 30, 2017USD ($)AgeQuarter$ / sharesshares | Jun. 30, 2016USD ($)$ / sharesshares | Jun. 30, 2005USD ($)Quarter | |
Employee Stock Ownership Plan [Abstract] | |||
Number of years after which employees eligible to participate in ESOP, minimum | 1 year | ||
Attainable age for employees to participate in ESOP, minimum | Age | 21 | ||
Statutory limit purchased by ESOP | 8.00% | ||
Shares purchased, ESOP (in shares) | 116,713 | ||
Loan facilitated to ESOP | $ | $ 1,200,000 | $ 1,100,000 | |
Number of quarterly debt service payments | Quarter | 80 | 80 | |
Amount of quarterly debt service payments for corresponding note | $ | $ 20,000 | $ 23,000 | |
Interest rate for corresponding note | 3.20% | 5.25% | |
ESOP shares sold, percentage | 6.00% | ||
ESOP Compensation Expense | $ | $ 298,000 | $ 258,000 | |
ESOP shares [Abstract] | |||
Allocated and Committed to be Released Shares, Beginning of Year (in shares) | 88,182 | 77,159 | |
Shares Allocated and Committed to be Released During the Year (in shares) | 11,023 | 11,023 | |
Unallocated and Unreleased Shares, as of Year End (in shares) | 117,688 | 128,711 | |
Total ESOP Shares (in shares) | 216,893 | 216,893 | |
Fair Value of Unreleased Shares | $ | $ 3,172,000 | $ 2,761,000 | |
Stock Price (in dollars per share) | $ / shares | $ 26.95 | $ 21.45 |
Stock-Based Compensation, Recog
Stock-Based Compensation, Recognition and Retention Plan (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Aug. 19, 2015 | Jul. 31, 2014 | Jan. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share price (in dollars per share) | $ 26.95 | $ 21.45 | |||
Awarded Shares [Member] | |||||
Summary of the changes in restricted stock [Abstract] | |||||
Balance - Beginning of Year (in shares) | 20,730 | 36,282 | |||
Granted (in shares) | 0 | 0 | |||
Forfeited (in shares) | 0 | 0 | |||
Earned and Issued (in shares) | (15,593) | (15,552) | |||
Balance - End of Year (in shares) | 5,137 | 20,730 | |||
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 | ||||
Termination date | Jun. 8, 2015 | ||||
Shares vested (in shares) | 564 | ||||
Share price (in dollars per share) | $ 10.93 | ||||
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 | ||||
Share price (in dollars per share) | $ 18.92 | $ 14.70 | |||
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 | $ 147 | $ 232 |
Stock-Based Compensation, Stock
Stock-Based Compensation, Stock Option Plan (Details) - USD ($) $ / shares in Units, $ in Thousands | Jul. 31, 2014 | Jan. 31, 2012 | Aug. 19, 2010 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 23, 2011 | Aug. 10, 2005 |
Number of Shares [Abstract] | |||||||
Granted (in shares) | 0 | 103,500 | |||||
Weighted Average Exercise Price [Abstract] | |||||||
Exercised (in dollars per share) | $ 14.70 | $ 12.86 | |||||
Stock Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Incentive stock options and non-qualified stock options, vested and exercisable | 20.00% | ||||||
Award vesting period | 5 years | ||||||
Commencement period of incentive and non-qualified options | 1 year | ||||||
Additional percentage vested on each successive anniversary | 20.00% | ||||||
Weighted Average Exercise Price [Abstract] | |||||||
Compensation expense | $ 105 | $ 170 | |||||
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 | ||||||
Term of share-based payment award | 10 years | ||||||
Number of Shares [Abstract] | |||||||
Granted (in shares) | 2,133 | 21,616 | |||||
Weighted Average Exercise Price [Abstract] | |||||||
Exercised (in dollars per share) | $ 18.92 | $ 10.93 | |||||
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) | 389 | 194,522 | |||||
Number of Shares [Abstract] | |||||||
Granted (in shares) | 29,178 | 165,344 | |||||
Weighted Average Exercise Price [Abstract] | |||||||
Exercised (in dollars per share) | $ 18.92 | $ 14.70 | |||||
Recognition Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Award vesting period | 5 years | ||||||
Weighted Average Exercise Price [Abstract] | |||||||
Compensation expense | $ 147 | $ 232 |
Stock-Based Compensation, Sto71
Stock-Based Compensation, Stock Incentive Plan (Details) - USD ($) $ in Thousands | Oct. 26, 2015 | Nov. 12, 2014 | Jun. 30, 2017 | Jun. 30, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted (in shares) | 0 | 103,500 | ||
Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 5 years | |||
Compensation expense | $ 105 | $ 170 | ||
2014 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized under plan (in shares) | 150,000 | |||
Percentage of shares available for grant | 25.00% | |||
Aggregate number of shares of common stock reserved for issuance (in shares) | 112,500 | |||
Granted (in shares) | 34,500 | |||
Compensation expense | $ 293 | $ 134 | ||
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] | Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted (in shares) | 103,500 | |||
Award vesting period | 5 years |
Stock-Based Compensation, Sto72
Stock-Based Compensation, Stock Options (Details) - USD ($) | Oct. 26, 2015 | Jul. 31, 2014 | Jan. 31, 2012 | Jun. 30, 2017 | Jun. 30, 2016 |
Number of Shares [Abstract] | |||||
Outstanding, Beginning Balance (in shares) | 304,477 | 208,461 | |||
Granted (in shares) | 0 | 103,500 | |||
Exercised (in shares) | (3,937) | (7,484) | |||
Forfeited (in shares) | (389) | 0 | |||
Outstanding, Ending Balance (in shares) | 300,151 | 304,477 | |||
Options Exercisable, Ending Balance (in shares) | 202,164 | 142,860 | |||
Weighted Average Exercise Price [Abstract] | |||||
Outstanding, Beginning Balance (in dollars per share) | $ 17.79 | $ 15.03 | |||
Granted (in dollars per share) | 0 | 23 | |||
Exercised (in dollars per share) | 14.70 | 12.86 | |||
Forfeited (in dollars per share) | 14.70 | 0 | |||
Outstanding, Ending Balance (in dollars per share) | 17.83 | 17.79 | |||
Options Exercisable, Ending Balance (in dollars per share) | $ 15.70 | $ 14.53 | |||
Weighted Average Remaining Contract Term [Abstract] | |||||
Outstanding, Ending Balance (Period End) | 6 years 25 days | 7 years 18 days | |||
Options Exercisable , Ending Balance (Period End) | 5 years 1 month 6 days | 5 years 6 months 25 days | |||
Aggregate Intrinsic Value [Abstract] | |||||
Outstanding, Ending Balance | $ 2,735,976 | $ 1,274,770 | |||
Options Exercisable , Ending Balance | $ 2,272,277 | $ 988,183 | |||
Number of Shares [Abstract] | |||||
Nonvested, Beginning Balance (in shares) | 161,617 | ||||
Granted (in shares) | 0 | ||||
Vested (in shares) | (63,241) | ||||
Forfeited (in shares) | (389) | ||||
Nonvested, Ending Balance (in shares) | 97,987 | 161,617 | |||
Weighted Average Exercise Price [Abstract] | |||||
Nonvested, Beginning Balance (in dollars per share) | $ 20.67 | ||||
Granted (in dollars per share) | 0 | ||||
Vested (in dollars per share) | 18.31 | ||||
Forfeited (in dollars per share) | 14.70 | ||||
Nonvested, Ending Balance (in dollars per share) | $ 22.22 | $ 20.67 | |||
2014 Stock Incentive Plan [Member] | |||||
Number of Shares [Abstract] | |||||
Granted (in shares) | 34,500 | ||||
Fair value of option granted [Abstract] | |||||
Dividend Yield | 1.39% | ||||
Expected Term | 10 years | ||||
Risk-Free Interest Rate | 2.07% | ||||
Expected Life | 10 years | ||||
Expected Volatility | 20.38% | ||||
2014 Stock Incentive Plan [Member] | Stock Option [Member] | |||||
Number of Shares [Abstract] | |||||
Granted (in shares) | 103,500 | ||||
2011 Stock Option Plan [Member] | |||||
Number of Shares [Abstract] | |||||
Granted (in shares) | 29,178 | 165,344 | |||
Weighted Average Exercise Price [Abstract] | |||||
Exercised (in dollars per share) | $ 18.92 | $ 14.70 | |||
Fair value of option granted [Abstract] | |||||
Dividend Yield | 1.50% | ||||
Expected Term | 10 years | ||||
Risk-Free Interest Rate | 2.58% | ||||
Expected Life | 10 years | ||||
Expected Volatility | 9.56% |
Off-Balance Sheet Activities (D
Off-Balance Sheet Activities (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017USD ($)mi | Jun. 30, 2016USD ($) | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments outstanding, contract amount | $ 55,584 | $ 40,569 |
Regional Credit Concentration [Abstract] | ||
Number of miles within which banks lending activities are located | mi | 100 | |
Other Credit Concentrations [Abstract] | ||
Balance of loans outstanding | $ 6,600 | $ 7,600 |
Interest Rate Floors and Caps [Abstract] | ||
Amount of loan portfolio | 29,900 | |
Amount of purchased loans | $ 6,600 | |
Minimum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Percentage of Fixed Rate Loans | 3.25% | 3.13% |
Percentage of Variable Rate Loans | 2.88% | |
Maximum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Percentage of Fixed Rate Loans | 5.00% | 5.25% |
Percentage of Variable Rate Loans | 4.75% | |
Commitments to Grant Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments outstanding, contract amount | $ 45,679 | $ 29,621 |
Unfunded Commitments Under Lines of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments outstanding, contract amount | 9,905 | 10,948 |
Fixed Rate Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments outstanding, contract amount | 55,584 | 40,262 |
Variable Rate Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments outstanding, contract amount | $ 0 | $ 307 |
Related Party Events (Details)
Related Party Events (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Summarized analysis of activity in loans made to borrowers [Roll Forward] | ||
Balance - Beginning of Year | $ 3,772 | $ 3,761 |
Additions | 299 | 507 |
Principal Payments | (1,229) | (496) |
Balance - End of Year | 2,842 | 3,772 |
Deposits from related parties held by the Bank | $ 3,000 | $ 3,700 |
Regulatory Matters, Actual and
Regulatory Matters, Actual and Required Capital Amounts and Ratios for OCC Regulatory Capital Adequacy Purposes (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 | ||
Actual Amount [Abstract] | ||||
Core Capital | [1] | $ 45,977 | $ 42,863 | |
Common Equity Tier 1 | [2] | 45,977 | 42,863 | |
Tangible Capital | [1] | 45,977 | 42,863 | |
Total Risk-Based Capital | [2] | $ 49,545 | $ 45,708 | |
Actual Ratio [Abstract] | ||||
Core Capital | [1] | 11.06% | 11.81% | |
Common Equity Tier 1 | [2] | 16.14% | 16.66% | |
Tangible Capital | [1] | 11.06% | 11.81% | |
Total Risk-Based Capital | [2] | 17.39% | 17.77% | |
Required for Capital Adequacy Purposes, Amount [Abstract] | ||||
Core Capital | [1] | $ 12,475 | $ 10,893 | |
Common Equity Tier 1 | [2] | 12,821 | 11,574 | |
Tangible Capital | [1] | 6,237 | 5,446 | |
Total Risk-Based Capital | [2] | $ 22,793 | $ 20,577 | |
Required for Capital Adequacy Purposes, Ratio [Abstract] | ||||
Core Capital | 3.00% | [1] | 3.00% | |
Common Equity Tier 1 | [2] | 4.50% | 4.50% | |
Tangible Capital | [1] | 1.50% | 1.50% | |
Total Risk-Based Capital | 8.00% | [2] | 8.00% | |
[1] | Amounts and Ratios to Adjusted Total Assets | |||
[2] | Amounts and Ratios to Total Risk-Weighted Assets |
Regulatory Matters, Actual an76
Regulatory Matters, Actual and Required Capital Amounts and Ratios to be Well Capitalized under Prompt Corrective Action Provisions (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 | |
Actual Amount [Abstract] | |||
Tier 1 Leverage Capital | [1] | $ 45,977 | $ 42,863 |
Common Equity Tier 1 | [2] | 45,977 | 42,863 |
Tier 1 Risk-Based Capital | [2] | 45,977 | 42,863 |
Total Risk-Based Capital | [2] | $ 49,545 | $ 45,708 |
Actual Ratio [Abstract] | |||
Tier 1 Leverage Capital | [1] | 11.06% | 11.81% |
Common Equity Tier 1 | [2] | 16.14% | 16.66% |
Tier 1 Risk-Based Capital | [2] | 16.14% | 16.66% |
Total Risk-Based Capital | [2] | 17.39% | 17.77% |
Required to be Well Capitalized, Amount [Abstract] | |||
Tier 1 Leverage Capital | [1] | $ 20,790 | $ 18,154 |
Common Equity Tier 1 | [2] | 18,519 | 16,719 |
Tier 1 Risk-Based Capital | [2] | 22,793 | 20,576 |
Total Risk-Based Capital | [2] | $ 28,492 | $ 25,721 |
Required to be Well Capitalized, Ratio [Abstract] | |||
Tier 1 Leverage Capital | [1] | 5.00% | 5.00% |
Common Equity Tier 1 | [2] | 6.50% | 6.50% |
Tier 1 Risk-Based Capital | [2] | 8.00% | 8.00% |
Total Risk-Based Capital | [2] | 10.00% | 10.00% |
[1] | Amounts and Ratios to Adjusted Total Assets | ||
[2] | Amounts and Ratios to Total Risk-Weighted Assets |
Regulatory Matters, Actual an77
Regulatory Matters, Actual and Required Capital Amounts and Ratios Applicable to the Bank (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 | ||
Actual Ratio [Abstract] | ||||
Total Equity, and Ratio to Total Assets | 10.96% | 11.87% | ||
Tangible Capital, and Ratio to Adjusted Total Assets | [1] | 11.06% | 11.81% | |
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets | [1] | 11.06% | 11.81% | |
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets | [2] | 16.14% | 16.66% | |
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets | [2] | 17.39% | 17.77% | |
Actual Amount [Abstract] | ||||
Total Equity, and Ratio to Total Assets | $ 45,563 | $ 43,110 | ||
Investments in and Advances to Nonincludable Subsidiaries | (119) | (119) | ||
Unrealized Gains on Securities Available-for-Sale | 533 | (128) | ||
Tangible Capital, and Ratio to Adjusted Total Assets | [1] | 45,977 | 42,863 | |
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets | [1] | 45,977 | 42,863 | |
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets | [2] | 45,977 | 42,863 | |
Allowance for Loan Losses | 3,728 | 2,845 | ||
Excess Allowance for Loan Losses | (160) | |||
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets | [2] | 49,545 | 45,708 | |
Total Assets | 415,652 | 363,585 | ||
Adjusted Total Assets | 415,817 | 363,088 | ||
Risk-Weighted Assets | $ 284,918 | $ 257,211 | ||
Minimum for Capital Adequacy Purposes, Ratio [Abstract] | ||||
Tangible Capital, and Ratio to Adjusted Total Assets | [1] | 1.50% | 1.50% | |
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets | 3.00% | [1] | 3.00% | |
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets | 4.50% | 4.50% | ||
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets | 8.00% | [2] | 8.00% | |
Minimum for Capital Adequacy Purposes, Amount [Abstract] | ||||
Tangible Capital, and Ratio to Adjusted Total Assets | [1] | $ 6,237 | $ 5,446 | |
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets | [1] | 12,475 | 10,893 | |
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets | 12,821 | 11,574 | ||
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets | [2] | $ 22,793 | $ 20,577 | |
[1] | Amounts and Ratios to Adjusted Total Assets | |||
[2] | Amounts and Ratios to Total Risk-Weighted Assets |
Fair Value Disclosures (Details
Fair Value Disclosures (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Mortgage Loans Held-for-Sale [Abstract] | ||
Number of days from origination to dispose Mortgage Loans Held-for-Sale, maximum | 90 days | |
Financial Assets [Abstract] | ||
Securities Available-for-Sale | $ 36,935 | $ 50,173 |
Securities to be Held-to-Maturity | 27,989 | 2,349 |
Carrying Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and Cash Equivalents | 11,905 | 4,756 |
Securities Available-for-Sale | 36,935 | 50,173 |
Securities to be Held-to-Maturity | 28,357 | 2,349 |
Loans Held-for-Sale | 13,631 | 11,919 |
Loans Receivable | 312,772 | 290,827 |
Financial Liabilities [Abstract] | ||
Deposits | 329,045 | 287,822 |
Advances from FHLB | 48,907 | 47,665 |
Off-Balance Sheet Items [Abstract] | ||
Off-balance sheet liabilities | 457 | 296 |
Estimated Fair Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and Cash Equivalents | 11,905 | 4,756 |
Securities Available-for-Sale | 36,935 | 50,173 |
Securities to be Held-to-Maturity | 27,989 | 2,349 |
Loans Held-for-Sale | 13,631 | 11,919 |
Loans Receivable | 301,741 | 290,339 |
Financial Liabilities [Abstract] | ||
Deposits | 313,514 | 285,503 |
Advances from FHLB | 48,918 | 47,802 |
Off-Balance Sheet Items [Abstract] | ||
Off-balance sheet liabilities | $ 457 | $ 296 |
Fair Value Disclosures, Recurri
Fair Value Disclosures, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Jun. 30, 2016 |
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | $ 36,935 | $ 50,173 |
FHLMC [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 8,848 | 10,793 |
FNMA [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 19,957 | 27,223 |
GNMA [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 8,130 | 12,157 |
Recurring [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 36,935 | 50,173 |
Recurring [Member] | Level 1 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 0 | 0 |
Recurring [Member] | Level 2 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 36,935 | 50,173 |
Recurring [Member] | Level 3 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 0 | 0 |
Recurring [Member] | FHLMC [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 8,848 | 10,793 |
Recurring [Member] | FHLMC [Member] | Level 1 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 0 | 0 |
Recurring [Member] | FHLMC [Member] | Level 2 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 8,848 | 10,793 |
Recurring [Member] | FHLMC [Member] | Level 3 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 0 | 0 |
Recurring [Member] | FNMA [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 19,957 | 27,223 |
Recurring [Member] | FNMA [Member] | Level 1 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 0 | 0 |
Recurring [Member] | FNMA [Member] | Level 2 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 19,957 | 27,223 |
Recurring [Member] | FNMA [Member] | Level 3 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 0 | 0 |
Recurring [Member] | GNMA [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 8,130 | 12,157 |
Recurring [Member] | GNMA [Member] | Level 1 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 0 | 0 |
Recurring [Member] | GNMA [Member] | Level 2 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 8,130 | 12,157 |
Recurring [Member] | GNMA [Member] | Level 3 [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 0 | 0 |
Non-recurring [Member] | ||
Assets [Abstract] | ||
Impaired loans, net of allowance | 282 | 13 |
Other Real Estate Owned | 0 | |
Total | 282 | 13 |
Non-recurring [Member] | Level 1 [Member] | ||
Assets [Abstract] | ||
Impaired loans, net of allowance | 0 | 0 |
Other Real Estate Owned | 0 | |
Total | 0 | 0 |
Non-recurring [Member] | Level 2 [Member] | ||
Assets [Abstract] | ||
Impaired loans, net of allowance | 0 | 0 |
Other Real Estate Owned | 0 | |
Total | 0 | 0 |
Non-recurring [Member] | Level 3 [Member] | ||
Assets [Abstract] | ||
Impaired loans, net of allowance | 282 | 13 |
Other Real Estate Owned | 540 | |
Total | $ 822 | $ 13 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - $ / shares | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Components of average outstanding common shares [Abstract] | ||
Average Common Shares Issued (in shares) | 1,957,859 | 2,045,179 |
Average Unearned ESOP Shares (in shares) | (127,254) | (138,784) |
Average Unearned RRP Trust Shares (in shares) | (13,456) | (29,007) |
Weighted Average Number of Common Shares Used in Basic EPS (in shares) | 1,817,149 | 1,877,388 |
Effect of Dilutive Securities Stock Options (in shares) | 92,318 | 64,314 |
Weighted Average Number of Common Shares and Diluted Potential Common Shares Used in Dilutive EPS (in shares) | 1,909,467 | 1,941,702 |
Outstanding options to purchase shares (in shares) | 300,151 | 304,477 |
Weighted average price per share of outstanding options (in dollars per share) | $ 17.83 | $ 17.79 |
Parent Company Financial Stat81
Parent Company Financial Statements (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Assets [Abstract] | ||||
Cash and Cash Equivalents | $ 4,756 | $ 4,756 | $ 11,905 | $ 4,756 |
Other Assets | 884 | 780 | ||
Total Assets | 426,606 | 381,701 | ||
Liabilities and Stockholders' Equity [Abstract] | ||||
Borrowings | 0 | 400 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 426,606 | 381,701 | ||
Condensed Statements of Operations [Abstract] | ||||
Interest Income | 16,892 | 15,458 | ||
Interest Expense | 2,803 | 2,610 | ||
Income Before Income Taxes | 5,410 | 5,021 | ||
Income Tax Benefit | 1,758 | 1,644 | ||
Net Income | 3,652 | 3,377 | ||
Operating Activities [Abstract] | ||||
Net Income | 3,652 | 3,377 | ||
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities [Abstract] | ||||
Decrease (Increase) in Other Assets | (101) | 57 | ||
(Decrease) Increase in Other Liabilities | 87 | 229 | ||
Net Cash Provided By Operating Activities | 3,375 | 7,052 | ||
Financing Activities [Abstract] | ||||
Proceeds from Stock Options Exercised | 61 | 85 | ||
Proceeds of Borrowings | 300 | 2,200 | ||
Repayment of Borrowings | (700) | (1,800) | ||
Company Stock Purchased | (645) | (3,353) | ||
Dividends Paid | (705) | (660) | ||
Net Cash Provided by (Used In) Financing Activities | 40,757 | 7,485 | ||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 7,149 | (16,410) | ||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 4,756 | 21,166 | ||
CASH AND CASH EQUIVALENTS, END OF YEAR | 11,905 | 4,756 | ||
Parent Company [Member] | ||||
Assets [Abstract] | ||||
Cash and Cash Equivalents | 197 | 90 | 197 | 90 |
Investment in Subsidiary | 45,813 | 43,360 | ||
Other Assets | 275 | 409 | ||
Total Assets | 46,285 | 43,859 | ||
Liabilities and Stockholders' Equity [Abstract] | ||||
Borrowings | 0 | 400 | ||
Other Liabilities | 39 | 67 | ||
Stockholders' Equity | 46,246 | 43,392 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 46,285 | $ 43,859 | ||
Condensed Statements of Operations [Abstract] | ||||
Equity in Undistributed Earnings of Subsidiary | 3,888 | 3,612 | ||
Interest Income | 80 | 85 | ||
Total Income | 3,968 | 3,697 | ||
Operating Expenses | 424 | 423 | ||
Interest Expense | 14 | 18 | ||
Total Expense | 438 | 441 | ||
Income Before Income Taxes | 3,530 | 3,256 | ||
Income Tax Benefit | (122) | (121) | ||
Net Income | 3,652 | 3,377 | ||
Operating Activities [Abstract] | ||||
Net Income | 3,652 | 3,377 | ||
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities [Abstract] | ||||
Equity in Undistributed Earnings of Subsidiary | (3,888) | (3,612) | ||
Decrease (Increase) in Other Assets | 134 | (162) | ||
(Decrease) Increase in Other Liabilities | (28) | 54 | ||
Net Cash Provided By Operating Activities | (130) | (343) | ||
Financing Activities [Abstract] | ||||
Distribution from Subsidiary | 1,000 | 3,000 | ||
Proceeds from Stock Options Exercised | 61 | 85 | ||
Proceeds of Borrowings | 300 | 2,200 | ||
Repayment of Borrowings | (700) | (1,800) | ||
Proceeds Received from Subsidiary on Stock Compensation Programs | 926 | 573 | ||
Company Stock Purchased | (645) | (3,353) | ||
Dividends Paid | (705) | (660) | ||
Net Cash Provided by (Used In) Financing Activities | 237 | 45 | ||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 107 | (298) | ||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 90 | 388 | ||
CASH AND CASH EQUIVALENTS, END OF YEAR | $ 197 | $ 90 |