Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Jun. 30, 2019 | Sep. 24, 2019 | Dec. 31, 2018 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Home Federal Bancorp, Inc. of Louisiana | ||
Entity Central Index Key | 0001500375 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Shell Company | false | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Ex Transition Period | false | ||
Entity Public Float | $ 39.1 | ||
Entity Common Stock, Shares Outstanding | 1,790,480 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jun. 30, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Entity Address, State or Province | LA |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
ASSETS | ||
Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of $10,632 and $11,974 for 2019 and 2018, Respectively) | $ 18,108 | $ 15,867 |
Debt Securities Available-for-Sale | 41,655 | 29,324 |
Securities Held-to-Maturity (fair value of $25,532 and $27,818, Respectively) | 25,349 | 28,888 |
Loans Held-for-Sale | 8,608 | 6,762 |
Loans Receivable, Net of Allowance for Loan Losses of $3,452 and $3,425 for 2019 and 2018, Respectively | 324,134 | 317,493 |
Accrued Interest Receivable | 1,172 | 1,146 |
Premises and Equipment, Net | 13,554 | 12,243 |
Bank Owned Life Insurance | 6,948 | 6,808 |
Deferred Tax Asset | 849 | 1,102 |
Other Real Estate Owned | 1,366 | 1,177 |
Other Assets | 710 | 840 |
Total Assets | 442,453 | 421,650 |
LIABILITIES | ||
Deposits | 388,164 | 360,260 |
Advances from Borrowers for Taxes and Insurance | 584 | 725 |
Short-term Federal Home Loan Bank Advances | 295 | 5,282 |
Long-term Federal Home Loan Bank Advances | 1,060 | 6,355 |
Other Borrowings | 450 | 300 |
Other Accrued Expenses and Liabilities | 1,558 | 1,691 |
Total Liabilities | 392,111 | 374,613 |
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; 1,845,482 and 1,894,081 Shares Issued and Outstanding at June 30, 2019 and 2018, Respectively | 23 | 23 |
Additional Paid-in Capital | 35,914 | 35,057 |
Unearned ESOP Stock | (985) | (1,100) |
Unearned RRP Trust Stock | 0 | (22) |
Retained Earnings | 15,370 | 14,125 |
Accumulated Other Comprehensive Income (Loss) | 20 | (1,046) |
Total Stockholders' Equity | 50,342 | 47,037 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 442,453 | $ 421,650 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
ASSETS | ||
Interest-Bearing Deposits with Other Banks | $ 10,632 | $ 11,974 |
Securities Held-to-Maturity, Fair Value | 25,532 | 27,818 |
Loans Receivable, Allowance for Loan Losses | $ 3,452 | $ 3,425 |
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) | 1,845,482 | 1,894,081 |
Common Stock, Outstanding (in shares) | 1,845,482 | 1,894,081 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
INTEREST INCOME | ||
Loans, Including Fees | $ 18,058 | $ 17,106 |
Mortgage-Backed Securities | 1,398 | 1,129 |
Investment Securities | 62 | 47 |
Other Interest-Earning Assets | 328 | 141 |
Total Interest Income | 19,846 | 18,423 |
INTEREST EXPENSE | ||
Deposits | 4,380 | 3,046 |
Federal Home Loan Bank Borrowings | 143 | 445 |
Other Borrowings | 9 | 4 |
Total Interest Expense | 4,532 | 3,495 |
Net Interest Income | 15,314 | 14,928 |
PROVISION FOR LOAN LOSSES | 600 | 1,050 |
Net Interest Income after Provision for Loan Losses | 14,714 | 13,878 |
NON-INTEREST INCOME | ||
Gain on Sale of Loans | 1,555 | 1,767 |
Loss on Sale of Real Estate and Fixed Assets | (345) | (1) |
Realized Gain on Sale of Securities | 0 | 94 |
Income on Bank Owned Life Insurance | 140 | 140 |
Service Charges on Deposit Accounts | 975 | 883 |
Other Income | 60 | 105 |
Total Non-Interest Income | 2,385 | 2,988 |
NON-INTEREST EXPENSE | ||
Compensation and Benefits | 6,443 | 6,500 |
Occupancy and Equipment | 1,359 | 1,345 |
Franchise and Bank Shares Tax | 392 | 392 |
Advertising | 362 | 185 |
Data Processing | 533 | 662 |
Audit and Examination Fees | 242 | 254 |
Legal Fees | 544 | 557 |
Loan and Collection Expense | 290 | 269 |
Deposit Insurance Premiums | 88 | 125 |
Other Expenses | 820 | 757 |
Total Non-Interest Expense | 11,073 | 11,046 |
Income Before Income Taxes | 6,026 | 5,820 |
PROVISION FOR INCOME TAX EXPENSE | 1,283 | 2,252 |
Net Income | $ 4,743 | $ 3,568 |
EARNINGS PER SHARE: | ||
Basic (in dollars per share) | $ 2.68 | $ 1.98 |
Diluted (in dollars per share) | $ 2.50 | $ 1.87 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||
Net Income | $ 4,743 | $ 3,568 |
Other Comprehensive Income (Loss), Net of Tax | ||
Unrealized Holding Gains (Losses) on Debt Securities Available for Sale Arising During the Period | 1,066 | (694) |
Total Comprehensive Income | $ 5,809 | $ 2,874 |
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, 2017 | $ 23 | $ 34,516 | $ (1,215) | $ (46) | $ 13,320 | $ (352) | $ 46,246 |
Share Awards Earned | 0 | 134 | 0 | 0 | 0 | 0 | 134 |
ESOP Compensation Earned | 0 | 214 | 115 | 0 | 0 | 0 | 329 |
Stock Options Exercised | 0 | 53 | 0 | 0 | 0 | 0 | 53 |
Distribution of RRP Trust Stock | 0 | 4 | 0 | 24 | 0 | 0 | 28 |
Dividends Paid | 0 | 0 | 0 | 0 | (924) | 0 | (924) |
Stock Options Vested | 0 | 136 | 0 | 0 | 0 | 0 | 136 |
Company Stock Purchased | 0 | 0 | 0 | 0 | (1,955) | 0 | (1,955) |
Net Income | 0 | 0 | 0 | 0 | 3,568 | 0 | 3,568 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Debt Securities, Net of Tax | 0 | 0 | 0 | 0 | 116 | (694) | (578) |
Ending Balance at Jun. 30, 2018 | 23 | 35,057 | (1,100) | (22) | 14,125 | (1,046) | 47,037 |
Share Awards Earned | 0 | 134 | 0 | 0 | 0 | 0 | 134 |
ESOP Compensation Earned | 0 | 253 | 115 | 0 | 0 | 0 | 368 |
Stock Options Exercised | 0 | 325 | 0 | 0 | 0 | 0 | 325 |
Distribution of RRP Trust Stock | 0 | 2 | 0 | 22 | 0 | 0 | 24 |
Dividends Paid | 0 | 0 | 0 | 0 | (1,051) | 0 | (1,051) |
Stock Options Vested | 0 | 143 | 0 | 0 | 0 | 0 | 143 |
Company Stock Purchased | 0 | 0 | 0 | 0 | (2,447) | 0 | (2,447) |
Net Income | 0 | 0 | 0 | 0 | 4,743 | 0 | 4,743 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Debt Securities, Net of Tax | 0 | 0 | 0 | 0 | 0 | 1,066 | 1,066 |
Ending Balance at Jun. 30, 2019 | $ 23 | $ 35,914 | $ (985) | $ 0 | $ 15,370 | $ 20 | $ 50,342 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ 4,743 | $ 3,568 |
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities | ||
Gain on Sale of Loans | (1,555) | (1,767) |
Realized Gain on Sale of Securities | 0 | (94) |
Net Amortization and Accretion on Securities | 109 | 165 |
Amortization of Deferred Loan Fees | (188) | (162) |
Provision for Loan Losses | 600 | 1,050 |
Real Estate Owned Valuation Adjustment | 75 | 60 |
Depreciation of Premises and Equipment | 536 | 503 |
Loss on Sale of Real Estate and Fixed Assets | 345 | 1 |
ESOP Compensation Expense | 368 | 329 |
Deferred Income Tax (Benefit) Expense | (30) | 499 |
Stock Options Expense | 135 | 136 |
Recognition and Retention Plan and Share Awards Expense | 167 | 162 |
Increase in Cash Surrender Value on Bank Owned Life Insurance | (140) | (140) |
Bad Debt Recovery | 13 | 25 |
Changes in Assets and Liabilities: | ||
Origination and Purchase of Loans Held-for-Sale | (60,120) | (74,961) |
Sale and Principal Repayments on Loans Held-for-Sale | 59,829 | 83,757 |
Accrued Interest Receivable | (26) | (52) |
Other Operating Assets | 130 | 44 |
Other Operating Liabilities | (133) | (19) |
Net Cash Provided by Operating Activities | 4,858 | 13,104 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Loan Originations and Principal Collections, Net | (7,977) | (6,676) |
Deferred Loan Fees Collected | 99 | 228 |
Acquisition of Premises and Equipment | (2,611) | (516) |
Proceeds from Sale of Fixed Assets | 540 | 0 |
Improvements to Real Estate Owned Prior to Disposition | (52) | (63) |
Activity in Available-for-Sale Securities: | ||
Principal Payments on Mortgage-Backed Securities | 8,476 | 8,165 |
Sale of Securities | 0 | 3,555 |
Purchases of Securities | (18,496) | (7,717) |
Activity in Held-to-Maturity Securities: | ||
Principal Payments on Mortgage-Backed Securities | 2,530 | 3,437 |
Purchases of Securities | 0 | (1,174) |
Net Cash Used in Investing Activities | (17,491) | (761) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net Increase in Deposits | 27,904 | 31,250 |
Proceeds from Advances from Federal Home Loan Bank | 0 | 183,476 |
Repayments of Advances from Federal Home Loan Bank | (10,282) | (220,746) |
Dividends Paid | (1,051) | (924) |
Company Stock Purchased | (2,447) | (1,955) |
Net Decrease in Advances from Borrowers for Taxes and Insurance | 141 | 27 |
Proceeds from Other Bank Borrowings | 900 | 800 |
Repayment of Other Bank Borrowings | (750) | (500) |
Proceeds from Stock Options Exercised | 325 | 53 |
Recognition and Retention Plan Share Distributions | 134 | 138 |
Net Cash Provided by/(Used In) Financing Activities | 14,874 | (8,381) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 2,241 | 3,962 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 15,867 | 11,905 |
CASH AND CASH EQUIVALENTS, END OF YEAR | 18,108 | 15,867 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Interest Paid on Deposits and Borrowed Funds | 3,584 | 3,485 |
Income Taxes Paid | 1,286 | 1,576 |
Market Value Adjustment for Unrealized Gain (Loss) on Debt Securities Available For Sale | 1,349 | (790) |
Loan Originations to Finance Sale of Real Estate | $ 896 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2019 | |
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 seven branch offices, five 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 of Estimates 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 Most of the Company’s activities are provided to customers of the Bank by seven branch offices, five 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, 2019 and 2018, cash and cash equivalents consisted of the following: 2019 2018 (In Thousands) Cash on Hand $ 1,004 $ 861 Demand Deposits at Other Institutions 14,329 6,206 Federal Funds Sold 2,775 8,800 Total $ 18,108 $ 15,867 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, 2019 and 2018. 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 Receivable 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. Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are carried at the lower of cost or current fair value minus estimated cost to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management, and the assets are carried at the lower of carrying amount or fair value less cost to sell. Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. 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 $362,000 and $ 185,000 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, 2019 and 2018, 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 consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss). The components of other comprehensive income (loss) and related tax effects are as follows: 2019 2018 (In Thousands) Gross Unrealized Holding Gains/(Losses) Arising During the Period $ 1,349 $ (790 ) Tax Effect (283 ) 96 Net Unrealized Holding Gains/(Losses) Arising During the Period $ 1,066 $ (694 ) The components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows: 2019 2018 (In Thousands) Net Unrealized Gain (Loss) on Securities Available-for-Sale $ 26 $ (1,323 ) Tax Effect (6 ) 277 Net-of-Tax Amount $ 20 $ (1,046 ) Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued ASU 2016-01, Financial Instruments Technical Corrections and Improvements to Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities 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 did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases 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 June 2016, the FASB issued ASU 2016-13, 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 In November 2017, the FASB issued ASU 2017-14, Income Statement – Reporting Comprehensive Income Revenue Recognition Revenue from Contracts with Customers In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income In May 2018, the FASB issued ASU 2018-06, Codification Improvements to Topic 942, Financial Services – Depository and Lending In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement.” The ASU removes, modifies, and adds certain disclosure requirements for fair value measurements. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019. In addition, entities may early adopt the modified or eliminated disclosure requirements and delay adoption of the additional disclosure requirements until effective date. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. |
Securities
Securities | 12 Months Ended |
Jun. 30, 2019 | |
Securities [Abstract] | |
Securities | Note 2. Securities The amortized cost and fair value of securities, with gross unrealized gains and losses, follows: June 30, 2019 Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Debt Securities FHLMC Mortgage-Backed Certificates $ 8,168 $ 43 $ 131 $ 8,080 FNMA Mortgage-Backed Certificates 25,071 355 149 25,277 GNMA Mortgage-Backed Certificates 8,390 19 111 8,298 Total Debt Securities 41,629 417 391 41,655 Total Securities Available-for-Sale $ 41,629 $ 417 $ 391 $ 41,655 Securities Held-to-Maturity Debt Securities GNMA Mortgage-Backed Certificates $ 1,134 $ -- $ 18 $ 1,116 FNMA Mortgage-Backed Certificates 21,308 338 137 21,509 Total Debt Securities 22,442 338 155 22,625 Equity Securities (Non-Marketable) 26,571 2,657 -- -- 2,657 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,907 -- -- 2,907 Total Securities Held-to-Maturity $ 25,349 $ 338 $ 414 $ 25,532 June 30, 2018 Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Debt Securities FHLMC Mortgage-Backed Certificates $ 7,601 $ 2 $ 518 $ 7,085 FNMA Mortgage-Backed Certificates 12,465 1 554 11,912 GNMA Mortgage-Backed Certificates 10,581 2 256 10,327 Total Debt Securities 30,647 5 1,328 29,324 Total Securities Available-for-Sale $ 30,647 $ 5 $ 1,328 $ 29,324 Securities Held-to-Maturity Debt Securities GNMA Mortgage-Backed Securities $ 1,160 $ -- $ 45 $ 1,115 FNMA Mortgage-Backed Securities 24,882 -- 1,025 23,857 Total Debt Securities 26,042 -- 1,070 24,972 Equity Securities (Non-Marketable) 25,959 Shares – Federal Home Loan Bank 2,596 -- -- 2,596 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,846 -- -- 2,846 Total Securities Held-to-Maturity $ 28,888 $ -- $ 1,070 $ 27,818 The amortized cost and fair value of securities by contractual maturity at June 30, 2019, follows: Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In Thousands) Debt Securities Within One Year or Less $ 31 $ 32 $ -- $ -- One through Five Years 14,245 14,168 -- -- After Five through Ten Years 16,819 16,685 -- -- Over Ten Years 10,534 10,770 22,442 22,625 41,629 41,655 22,442 22,625 Other Equity Securities -- -- 2,907 2,907 Total $ 41,629 $ 41,655 $ 25,349 $ 25,532 Information pertaining to securities with gross unrealized losses at June 30, 2019 and 2018, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: June 30, 2019 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In Thousands) Securities Available-for-Sale Mortgage-Backed Securities $ -- $ -- $ 391 $ 19,149 Total Securities Available-for-Sale $ -- $ -- $ 391 $ 19,149 June 30, 2018 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In Thousands) Securities Available-for-Sale Mortgage-Backed Securities $ 71 $ 4,709 $ 1,257 $ 24,547 Total Securities Available-for-Sale $ 71 $ 4,709 $ 1,257 $ 24,547 The unrealized losses on the Company’s investment in mortgage-backed securities at June 30, 2019 and 2018 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, 2019. At June 30, 2019 and 2018, securities with a carrying value of $2.3 million |
Loans Receivable
Loans Receivable | 12 Months Ended |
Jun. 30, 2019 | |
Loans Receivable [Abstract] | |
Loans Receivable | Note 3. Loans Receivable Loans receivable at June 30, 2019 and 2018, are summarized as follows: 2019 2018 (In Thousands) Loans Secured by Mortgages on Real Estate One-to-Four Family Residential $ 118,945 $ 121,257 Commercial 83,397 74,416 Multi-Family Residential 46,171 38,079 Land 16,106 20,474 Construction 9,502 11,921 Equity and Second Mortgage 1,262 1,541 Equity Lines of Credit 15,619 17,387 Total Mortgage Loans 291,002 285,075 Commercial Loans 35,990 35,458 Consumer Loans Loans on Savings Accounts 439 462 Other Consumer Loans 329 185 Total Consumer Other Loans 768 647 Total Loans 327,760 321,180 Less: Allowance for Loan Losses (3,452 ) (3,425 ) Unamortized Loan Fees (174 ) (262 ) Net Loans Receivable $ 324,134 $ 317,493 An analysis of the allowance for loan losses follows: 2019 2018 (In Thousands) Balance - Beginning of Year $ 3,425 $ 3,729 Provision for Loan Losses 600 1,050 Recoveries 13 26 Loan Charge-Offs (586 ) (1,380 ) Balance – End of Year $ 3,452 $ 3,425 Fixed rate loans receivable, as of June 30, 2019, are scheduled to mature and adjustable rate loans are scheduled to re-price as follows (in thousands) Under Over One Over Five Over One to Five to Ten Ten Year Years Years Years Total Loans Secured by One-to-Four (In Thousands) Family Residential Fixed Rate $ 6,364 $ 42,923 $ 6,465 $ 30,634 $ 86,386 Adjustable Rate 1,337 11,280 8,349 11,593 32,559 Other Loans Secured by Real Estate Fixed Rate 29,867 68,282 29,210 4,550 131,909 Adjustable Rate 19,743 9,357 -- 11,048 40,148 All Other Loans Fixed Rate 3,624 16,846 712 -- 21,182 Adjustable Rate 15,576 -- -- -- 15,576 Total $ 76,511 $ 148,688 $ 44,736 $ 57,825 $ 327,760 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 partial recovery may be possible in the future, it is not practical or desirable to defer writing off these though 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, 2019 and 2018: June 30, 2019 Pass and Pass Watch Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 118,459 $ 17 $ 469 $ -- $ 118,945 Commercial 80,087 -- 3,310 -- 83,397 Multi-Family Residential 46,171 -- -- -- 46,171 Land 13,126 -- 2,980 -- 16,106 Construction 9,502 -- -- -- 9,502 Equity and Second Mortgage 1,168 64 30 -- 1,262 Equity Lines of Credit 15,619 -- -- -- 15,619 Commercial Loans 35,367 -- 623 -- 35,990 Consumer Loans 768 -- -- -- 768 Total $ 320,267 $ 81 $ 7,412 $ -- $ 327,760 June 30, 2018 Pass and Pass Watch Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 120,317 $ 652 $ 996 $ -- $ 121,257 Commercial 74,416 -- 4,060 -- 74,416 Multi-Family Residential 38,079 -- -- -- 38,079 Land 20,474 -- -- -- 20,474 Construction 11,921 -- -- -- 11,921 Equity and Second Mortgage 1,541 -- -- -- 1,541 Equity Lines of Credit 17,300 -- 87 -- 17,387 Commercial Loans 29,817 -- 873 -- 35,458 Consumer Loans 647 -- -- -- 647 Total $ 314,512 $ 652 $ 6,016 $ -- $ 321,180 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, 2019 and 2018, is as follows: June 30, 2019 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 $ 2,204 $ 715 $ 596 $ 3,515 $ 115,430 $ 118,945 $ 420 Commercial -- -- -- -- 83,397 83,397 -- Multi-Family Residential -- -- -- -- 46,171 46,171 -- Land -- -- 2,981 2,981 13,125 16,106 -- Construction -- -- -- -- 9,502 9,502 -- Equity and Second Mortgage 120 -- -- 120 1,142 1,262 -- Equity Lines of Credit -- 49 -- 49 15,570 15,619 -- Commercial Loans -- -- 215 215 35,775 35,990 49 Consumer Loans -- -- -- -- 768 768 -- Total $ 2,324 $ 764 $ 3,792 $ 6,880 $ 320,880 $ 327,760 $ 469 June 30, 2018 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 $ 1,481 $ 230 $ 1,954 $ 3,665 $ 117,592 $ 121,257 $ 680 Commercial -- -- -- -- 74,416 74,416 -- Multi-Family Residential -- -- -- -- 38,079 38,079 -- Land -- -- -- -- 20,474 20,474 -- Construction -- -- -- -- 11,921 11,921 -- Equity and Second Mortgage -- -- -- -- 1,541 1,541 -- Equity Lines of Credit 134 59 117 310 17,077 17,387 30 Commercial Loans -- -- 416 416 35,042 35,458 -- Consumer Loans -- -- -- -- 647 647 -- Total $ 1,615 $ 289 $ 2,487 $ 4,391 $ 316,789 $ 321,180 $ 710 The allowance for loan losses and recorded investment in loans for the year ended June 30, 2019 and 2018 was as follows: Real Estate Loans June 30, 2019 Residential Commercial Multi-Family Land Construction Other Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,166 $ 436 $ 256 $ 161 $ 163 $ 311 $ 929 $ 3 $ 3,425 Charge-Offs (277 ) -- -- (289 ) -- (20 ) -- -- (586 ) Recoveries -- -- -- -- -- 13 -- -- 13 Current Provision 128 72 82 228 (48 ) ( 160 ) 298 -- 600 Ending Balances $ 1,017 $ 508 $ 338 $ 100 $ 115 $ 144 $ 1,227 $ 3 $ 3,452 Evaluated for Impairment: Individually -- 238 -- -- -- -- -- -- 238 Collectively 1, 017 270 338 100 115 144 1,227 3 3,214 Loans Receivable: Ending Balances - Total $ 118,945 $ 83,397 $ 46,171 $ 16,106 $ 9,502 $ 16,881 $ 35,990 $ 768 $ 327,760 Ending Balances: Evaluated for Impairment: Individually 469 3,310 -- 2,980 -- 30 623 -- 7,412 Collectively $ 118,476 $ 80,087 $ 46,171 $ 13,126 $ 9,502 $ 16,851 $ 35,367 $ 768 $ 320,348 Real Estate Loans June 30, 2018 Residential Commercial Multi- Family Land Construction Other Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,822 $ 353 $ 73 $ 203 $ 147 $ 142 $ 979 $ 10 $ 3,729 Charge-Offs (797 ) -- -- (109 ) -- (217 ) (250 ) (7 ) (1,380 ) Recoveries 5 -- -- 20 -- 1 -- -- 26 Current Provision 136 83 183 47 16 385 200 -- 1,050 Ending Balances $ 1,166 $ 436 $ 256 $ 161 $ 163 $ 311 $ 929 $ 3 $ 3,425 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1, 166 436 256 161 163 311 929 3 3,425 Loans Receivable: Ending Balances – Total $ 121,257 $ 74,416 $ 38,079 $ 20,474 $ 11,921 $ 18,928 $ 35,458 $ 647 $ 321,180 Ending Balances: Evaluated for Impairment: Individually 1,648 4,060 -- -- -- 87 873 -- 6,668 Collectively $ 119,609 $ 70,356 $ 38,079 $ 20,474 $ 11,921 $ 18,841 $ 34,585 $ 647 $ 314,512 The following table’s present loans individually evaluated for impairment, segregated by class of loans, as of June 30, 2019 and 2018: June 30, 2019 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 $ 469 $ 469 $ -- $ 469 $ -- $ 474 Commercial 3,310 -- 3,310 3,310 238 3,877 Multi-Family Residential -- -- -- -- -- -- Land 2,980 2,980 -- 2,980 -- 2,951 Construction -- -- -- -- -- -- Equity and Second Mortgage 30 30 -- 30 -- 30 Equity Lines of Credit -- -- -- -- -- -- Commercial Loans 623 623 -- 623 -- 630 Consumer Loans -- -- -- -- -- -- Total $ 7,412 $ 4,102 $ 3,310 $ 7,412 $ 238 $ 7,962 June 30, 2018 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 $ 1,648 $ 1,648 $ -- $ 1,648 $ -- $ 1,687 Commercial 4,060 4,060 -- 4,060 -- 4,186 Multi-Family Residential -- -- -- -- -- -- Land -- -- -- -- -- -- Construction -- -- -- -- -- -- Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit 87 87 -- 87 -- 87 Commercial Loans 873 873 -- 873 -- 877 Consumer Loans -- -- -- -- -- -- Total $ 6,668 $ 6,668 $ -- $ 6,668 $ -- $ 6,837 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, 2019 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial business $ 457 $ 122 $ 122 $ 579 1-4 Family Residential 76 -- -- 76 Commercial real estate 3,310 -- -- 3,310 June 30, 2018 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial business $ 4,943 $ 416 $ 416 $ 5,359 1-4 Family Residential 1,943 -- -- 1,943 During the year ended June 30, 2019 there were four loan relationships with a pre-modification balance of $4.7 million identified as TDRs after conversion of the loans’ interest rates and payment term modifications. 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. As of June 30, 2019, there were no commitments to lend additional funds to debtors owing sums to the Company whose terms have been modified in TDRs. For each of the years ended June 30, 2019 and 2018, approximately $274,000 2019 2018 (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 295 $ 2,586 Commercial 3,310 5,359 Multi-Family Residential -- -- Land 2,980 -- Construction -- -- Equity and Second Mortgage -- -- Equity Lines of Credit 30 87 Commercial Loans 623 416 Consumer Loans -- -- Total $ 7,238 $ 8,448 |
Accrued Interest Receivable
Accrued Interest Receivable | 12 Months Ended |
Jun. 30, 2019 | |
Accrued Interest Receivable [Abstract] | |
Accrued Interest Receivable | Note 4. Accrued Interest Receivable Accrued interest receivable at June 30, 2019 and 2018 consisted of the following: 2019 2018 (In Thousands) Accrued Interest on: Mortgage Loans $ 391 $ 554 Other Loans 654 487 Investments 2 3 Mortgage-Backed Securities 125 102 Total $ 1,172 $ 1,146 |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Jun. 30, 2019 | |
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: 2019 2018 (In Thousands) Land $ 4,594 $ 3,746 Buildings 10,590 8,614 Equipment 2,031 1,468 Construction in Progress 140 1,681 17,355 15,509 Accumulated Depreciation (3,801 ) (3,266 ) Total $ 13,554 $ 12,243 Depreciation expense charged against operations for the years ended June 30, 2019 and 2018 was $536,000 |
Deposits
Deposits | 12 Months Ended |
Jun. 30, 2019 | |
Deposits [Abstract] | |
Deposits | Note 6. Deposits Deposits at June 30, 2019 and 2018 are summarized as follows: Weighted Average Rate at Weighted Average Rate at 2019 2018 6/30/2019 6/30/2018 Amount Percent Amount Percent (Dollars in Thousands) Non-Interest Bearing 0.00 % 0.00 % $ 59,351 15.29 % $ 58,001 16.10 % NOW Accounts 0.55 % 0.67 % 31,045 8.00 34,576 9.60 Money Market 1.21 % 0.84 % 74,934 19.31 70,175 19.48 Passbook Savings 0.77 % 0.53 % 39,569 10.19 36,241 10.06 204,899 52.79 198,993 55.24 Certificates of Deposit 2.07 % 1.56 % 183,265 47.21 161,267 44.76 Total Deposits $ 388,164 100.00 % $ 360,260 100.00 % The composition of certificates of deposit accounts by interest rate is as follows: 2019 2018 Amount Percent Amount Percent (Dollars in Thousands) 0.00% to 0.99% $ 12,627 6.89 % $ 15,310 9.49 % 1.00% to 1.99% 65,745 35.87 121,572 75.39 2.00% to 2.99% 102,767 56.08 24,234 15.03 3.00% to 3.99% 2,126 1.16 151 0.09 Total Deposits $ 183,265 100.00 % $ 161,267 100.00 % Maturities of certificates of deposit accounts at June 30, 2019 are scheduled as follows: Year Ending June 30, Amount Percent Weighted Average Rate (Dollars in Thousands) 2020 $ 97,610 53.26 % 1.95 % 2021 41,627 22.72 2.00 2022 25,850 14.11 2.27 2023 7,336 4.00 2.13 2024 10,375 5.66 2.80 2025 467 0.25 2.98 Total $ 183,265 100.00 % 2.07 % Interest expense on deposits for the years ended June 30, 2019 and 2018 was as follows: 2019 2018 (In Thousands) NOW and Money Market $ 927 $ 458 Passbook Savings 195 194 Certificates of Deposit 3,258 2,394 Total $ 4,380 $ 3,046 The aggregate amount of time deposits in denominations of $100,000 or more at June 30, 2019 and 2018 was $131.9 million and $114.2 million, respectively . At June 30, 2019 and 2018, the Bank had brokered certificates of deposit totaling $11.2 million |
Advances from Federal Home Loan
Advances from Federal Home Loan Bank of Dallas | 12 Months Ended |
Jun. 30, 2019 | |
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 $143,000 445,000 Advances at June 30, 2019 and 2018 consisted of the following: Advance Total Contract Rate 2019 2018 (In Thousands) 0.00% to 0.99% $ -- $ -- 1.00% to 1.99% -- -- 2.00% to 2.99% -- 10,000 3.00% to 3.99% -- -- 4.00% to 4.99% 1,355 1,637 Total $ 1,355 $ 11,637 Maturities of advances at June 30, 2019 are as follows (in thousands): Year Ending June 30, Amount 2020 $ 295 2021 192 2022 34 2023 36 2024 798 Thereafter -- Total $ 1,355 |
Other Borrowings
Other Borrowings | 12 Months Ended |
Jun. 30, 2019 | |
Other Borrowings [Abstract] | |
Other Borrowings | Note 8. Other Borrowings At June 30, 2019 and 2018, the Company had available a $1.0 million line of credit agreement with First National Bankers Bank with the latest line maturing September 29, 2019. The line is secured by shares of the subsidiary Bank’s common stock and bears interest at an initial rate of 5.0%, subject to change when adjustments are made to Wall Street Journal Prime. At June 30, 2019, the line had an outstanding balance of $450,000. Interest expense amounted to $9,000 |
Commitments
Commitments | 12 Months Ended |
Jun. 30, 2019 | |
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 2020 $ 52 2021 48 Total $ 100 Total rent expense paid under the terms of these leases for the years ended June 30, 2019 and 2018 amounted to $88,000 Contractual Commitment The Bank has an agreement with a third-party to provide on-line data processing services. The agreement, which expires May 31, 2024, contains minimum monthly service charges of $28,821. 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) 2020 $ 346 2021 346 2022 346 2023 346 2024 317 Total $ 1,701 Employment Contracts The Company and the Bank have employment contract with a 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) 2020 $ 194 2021 194 2022 194 Total $ 582 Letters of Credit At June 30, 2019, the Company had secured letters of credit in the aggregate amount of $27.7 |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 and 2018 is summarized as follows: 2019 2018 (In Thousands) Current $ 1,313 $ 1,753 Deferred (30 ) 499 Total $ 1,283 $ 2,252 The effective federal income tax rate for the years ended June 30, 2019 and 2018 was 21.3% and 38.7%, respectively. Reconciliations of income tax expense at the statutory rate to the Company’s effective rates are as follows: 2019 2018 (In Thousands) Computed at Expected Statutory Rate $ 1,265 $ 2,322 Non-Taxable Income -- (46 ) Other 18 (24 ) Provision for Income Tax Expense $ 1,283 $ 2,252 At June 30, 2019 and 2018, 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, 2019 and 2018: 2019 2018 (In Thousands) Deferred Tax Assets Market Value Adjustment to Available-for-Sale Securities $ (5 ) $ 278 Stock Option and SERP Compensation 223 199 Loans Receivable - Bad Debt Loss Allowance 659 653 Capital Losses 92 45 969 1,175 Valuation Allowance (120 ) (73 ) Net Deferred Tax Assets $ 849 $ 1,102 Included in retained earnings at June 30, 2019 and 2018 is approximately $3.3 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, 2019 | |
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 2019, participating employees may make elective salary reduction contributions of up to $19,000 of their eligible compensation. The Bank will contribute a basic “safe harbor” contribution of 3% of participant plan salary and will match 100% 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, 2019 and 2018 were $199,000 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, 2019 and 2018, there were no obligations requiring accrual for this plan. The Bank adopted a Supplemental Executive Retirement Agreement 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 retirement. Mr. Herndon was 100% vested after December 31, 2017. In the event of his death after a separation from service on or after December 31, 2017, and prior to receipt of eight 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. The Bank adopted a Supplemental Executive Retirement Agreement on December 13, 2017 for the benefit of Mr. James R. Barlow as President and Chief Executive Officer of the Company and the Bank effective as of January 1, 2018 (Effective Date). Under the terms of the agreement, after the target retirement date of December 31, 2033, Mr. Barlow will receive annual retirement benefits of $120,000, payable in equal annual installments over ten years. In the event of a separation from service prior to December 31, 2033, other than as a result of death and without cause, Mr. Barlow would receive his accrued benefits through such date payable in a lump sum. If Mr. Barlow has a separation from service either concurrently with or within two years following a change in control, he will be credited with five additional years of service following the date of his separation from service for purposes of calculating his accrued amount. In the event of death while in active service, his designated beneficiaries would receive a lump sum payment of the full retirement benefit. In the event of death after retirement, but before all payments have been made, any remaining benefits will be paid to the designated beneficiaries until all the annual installments have been paid. The retirement benefits are vesting ratably at 6.25% per year for sixteen years beginning with the calendar year ending December 31, 2018. For the years ended June 30, 2019 and 2018, the Company recorded compensation expense totaling $38,506 |
Employee Stock Ownership Plan
Employee Stock Ownership Plan | 12 Months Ended |
Jun. 30, 2019 | |
Employee Stock Ownership Plan [Abstract] | |
Employee Stock Ownership Plan | Note 12. Employee Stock Ownership Plan During fiscal 2009, 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 December 22, 2010, the ESOP purchased 116,713 shares of the Company, which represented 6.0% of the shares sold in the offering. This purchase was facilitated by a loan from the Company to the ESOP in the amount of $1.2 million. The corresponding note is being repaid in 80 quarterly debt service payments of $20,000 on the last business day of each quarter, beginning March 31, 2011, at the rate of 3.2%. 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, 2019 and 2018, was approximately $368,000 The ESOP shares as of June 30, 2019 and 2018, were as follows: 2019 2018 Allocated and Committed to be Released Shares, Beginning of Year 110,228 99,205 Shares Allocated and Committed to be Released During the Year 11,023 11,023 Unallocated and Unreleased Shares, as of Year End 95,642 106,665 Total ESOP Shares 216,893 216,893 Fair Value of Unreleased Shares (In Thousands) $ 3,180 $ 3,355 Stock Price $ 33.25 $ 31.45 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Jun. 30, 2019 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | Note 13. Stock-Based Compensation Recognition and Retention Plans 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 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 2011 Recognition Plan is based on a share price of $18.92 on July 31, 2014, which represents the fair market price of the Company’s stock on the date on which the 2011 Recognition Plan shares were granted. The cost of the 2011 Recognition Plan is being recognized over the five year vesting period. 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 the 12,705 outstanding stock options as of June 30, 2019 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, 2019, 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. 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 y ears. On February 5, 2019, the Company granted a total of 3,000 plan share awards and 13,500 stock options to key employees vesting ratably over five years. The Stock Incentive Plan cost is recognized over the five year vesting period Share Awards Following is a summary of the status of the share awards outstanding under the 2011 Recognition Plan and Stock Incentive Plan during the fiscal years ended June 30, 2019 and 2018: Awarded Shares 2019 2018 Balance - Beginning of Year 23,527 31,937 Granted -- -- Forfeited -- -- Earned and Issued (8,410 ) (8,410 ) Balance - End of Year 15,117 23,527 Compensation expense pertaining to the 2011 Recognition Plan and the share awards under the Stock Incentive Plan was approximately $167,000 and $162,000 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, 2019 and 2018: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value Outstanding at June 30, 2018 292,050 $ 17.79 5.05 $ 3,986,887 Granted 13,500 31.25 Exercised (20,918 ) 15.35 Forfeited -- -- Outstanding at June 30, 2019 284,632 $ 18.65 4.40 $ 4,138,129 Options Exercisable at June 30, 2019 225,265 $ 17.12 3.73 $ 3,642,423 Outstanding at June 30, 2017 300,150 $ 17.83 6.07 Granted -- -- Exercised (3,600 ) 14.70 Forfeited (4,500 ) 14.70 Outstanding at June 30, 2018 292,050 $ 17.79 5.05 $ 3,986,887 Options Exercisable at June 30, 2018 220,122 $ 16.32 4.38 $ 3,327,981 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 2014 Stock Incentive Plan 2011 Option Plan February 5, 2019 October 26, 2015 July 31, 2014 Dividend Yield 1.79 % 1.39 % 1.50 % Expected Term 10 years 10 years 10 years Risk-Free Interest Rate 2.71 % 2.07 % 2.58 % Expected Life 10 years 10 years 10 years Expected Volatility (1) 16.17 % 20.38 % 9.56 % (1) Weekly volatility is annualized by multiplying by the square root of 52. Stock Options A summary of the status of the Company’s nonvested options as of June 30, 2019 and changes during the year ended June 30, 2019 is as follows: Number of Shares Weighted Average Exercise Price Nonvested at June 30, 2018 71,928 $ 22.29 Granted 13,500 31.25 Vested (26,061 ) 22.02 Forfeited -- -- Nonvested at June 30, 2019 59,367 $ 24.45 For the years ended June 30, 2019 and 2018, compensation expense charged to operations for stock options granted under the Option Plan and the Stock Incentive Plan was $135,000 and $136,000, respectively. |
Off-Balance Sheet Activities
Off-Balance Sheet Activities | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 and 2018, the following financial instruments were outstanding: Contract Amount 2019 2018 (In Thousands) Commitments to Grant Loans $ 40,582 $ 43,595 Unfunded Commitments Under Lines of Credit 8,981 11,142 $ 49,563 $ 54,737 Fixed Rate Loans (3.75% - 5.50 $ 49,563 $ 54,737 Variable Rate Loans ( -- -- -- $ 49,563 $ 54,737 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. At June 30, 2019, we had $15.1 million in cash deposits over the insured limit of $250,000. 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 collectibility 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, 2019 and 2018, the balance of the loans outstanding being serviced by these entities was $4.8 million and $5.8 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, 2019, the Bank’s loan portfolio contained approximately $32.6 million of loans in which the loan contracts or servicing agreements possessed interest rate floors and caps. Of this amount, $4.8 million consisted of purchased loans, which were originated by third-party mortgage originators. |
Related Party Events
Related Party Events | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 and 2018: 2019 2018 (In Thousands) Balance – Beginning of Year $ 2,602 $ 2,842 Additions 1,071 236 Principal Payments (846 ) (476 ) Balance – End of Year $ 2,827 $ 2,602 Deposits from related parties held by the Bank at June 30, 2019 and 2018, amounted to $3.9 million and $3.5 million, respectively. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 and 2018, that the Bank met all OCC capital adequacy requirements to which it is subject. As of June 30, 2019, 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, 2019. The Bank’s actual and required capital amounts and ratios for OCC regulatory capital adequacy purposes are presented below as of June 30, 2019 and 2018: Actual Required for Capital Adequacy Purposes Amount Ratio Amount Ratio (Dollars in Thousands) June 30, 2019 Core Capital (1 ) $ 50,171 11.37 % $ 13,235 3.00 % Common Equity Tier 1 (2 ) 50,171 16.51 13,678 4.50 Tangible Capital (1 ) 50,171 11.37 6,618 1.50 Total Risk-Based Capital (2 ) 53,623 17.64 24,316 8.00 June 30, 2018 Core Capital (1 ) $ 47,981 11.36 % $ 12,675 3.00 % Common Equity Tier 1 (2 ) 47,981 16.65 12,969 4.50 Tangible Capital (1 ) 47,981 11.36 6,337 1.50 Total Risk-Based Capital (2 ) 51,406 17.84 23,057 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, 2019 and 2018: Actual Required to be Well Capitalized Amount Ratio Amount Ratio (Dollars in Thousands) June 30, 2019 Tier 1 Leverage Capital (1 ) $ 50,171 11.37 % $ 22,059 5.00 % Common Equity Tier 1 (2 ) 50,171 16.51 19,756 6.50 Tier 1 Risk-Based Capital (2 ) 50,171 16.51 24,316 8.00 Total Risk-Based Capital (2 ) 53,623 17.64 30,395 10.00 June 30, 2018 Tier 1 Leverage Capital (1 ) $ 47,981 11.36 % $ 21,125 5.00 % Common Equity Tier 1 (2 ) 47,981 16.65 18,734 6.50 Tier 1 Risk-Based Capital (2 ) 47,981 16.65 23,057 8.00 Total Risk-Based Capital (2 ) 51,406 17.84 28,821 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, 2019 and 2018 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, 2019 Ratio Amount Ratio Amount (Dollars in Thousands) Total Equity, and Ratio to Average Total Assets 11.39 % $ 50,559 Investments in and Advances to Nonincludable Subsidiaries (118 ) Unrealized Gains on Securities Available-for-Sale (20 ) Non-significant investments Capital Stock (250 ) Tangible Capital, and Ratio to Adjusted Total Assets 11.37 % $ 50,171 1.50 % $ 6,618 Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets 11.37 % $ 50,171 3.00 % 13,235 Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets 16.51 % 50,171 4.50 % 13,678 Allowance for Loan Losses 3,452 Excess Allowance for Loan Losses -- Total Risk-Based Capital, and Ratio to Risk-Weighted Assets 17.64 % $ 53,623 8.00 % $ 24,316 Average Total Assets $ 441,564 Adjusted Total Assets $ 441,176 Risk-Weighted Assets $ 303,946 Actual Minimum for Capital Adequacy Purposes June 30, 2018 Ratio Amount Ratio Amount (Dollars in Thousands) Total Equity, and Ratio to Average Total Assets 11.10 % $ 46,775 Investments in and Advances to Nonincludable Subsidiaries (119 ) Unrealized Gains on Securities Available-for-Sale 1,325 Tangible Capital, and Ratio to Adjusted Total Assets 11.36 % $ 47,981 1.50 % $ 6,337 Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets 11.36 % $ 47,981 3.00 % 12,675 Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets 16.65 % 47,981 4.50 % 12,969 Allowance for Loan Losses 3,425 Excess Allowance for Loan Losses -- Total Risk-Based Capital, and Ratio to Risk-Weighted Assets 17.84 % $ 51,406 8.00 % $ 23,057 Average Total Assets $ 421,548 Adjusted Total Assets $ 422,504 Risk-Weighted Assets $ 288,208 |
Restrictions on Dividends
Restrictions on Dividends | 12 Months Ended |
Jun. 30, 2019 | |
Restrictions on Dividends [Abstract] | |
Restrictions on Dividends | Note 17. Restrictions on Dividends Banking regulations place certain restrictions on dividends paid by the Bank to the Company. The Company is dependent upon dividends from the Bank to provide funds for the payment of dividends to the Company’s shareholders, interest payments on the subordinated debt and other general corporate purposes. The Bank’s ability to pay cash dividends directly or indirectly to the Company is governed by federal law, regulations and related guidance. These include the requirement that the Bank must receive approval to declare a dividend if the total amount of all dividends, including the proposed dividend, declared by the Bank in any current year exceeds the total of the Bank’s net income for the current year to date, combined with its retained net income for the previous two years. The term “retained net income” as defined by federal regulations means the Bank’s net income for a specified period less the total amount of all dividends declared in that period. The Bank may not pay dividends to the Company if, after paying those dividends, it would fail to meet the required minimum levels under risk-based capital guidelines or if the bank regulators have notified the Bank that it is in need of more than normal supervision. Under the Federal Deposit Insurance Act, an insured depository institution such as the Bank is prohibited from making capital distributions, including the payment of dividends, if, after making such distribution, the institution would become “undercapitalized” (as such term is used in the Federal Deposit Insurance Act). Payment of dividends by the Bank also may be restricted at any time at the discretion of the appropriate regulator if it deems the payment to constitute an unsafe and unsound banking practice. For the years ended June 30, 2019 and 2018, the Bank paid a total of $2.5 million and $2.0 million, respectively, in cash dividends to the Company. At June 30, 2019, the Bank’s retained net income for the calendar years ended December 31, 2018 and 2017 and six months ended June 30, 2019, less the dividends declared and paid during those periods, totaled $5.3 million. |
Fair Value Disclosures
Fair Value Disclosures | 12 Months Ended |
Jun. 30, 2019 | |
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 values for investment securities, including mortgage-backed securities, are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. The carrying values of restricted or non-marketable equity securities approximate their fair values. The carrying amount of accrued investment income approximates its fair value. Mortgage Loans Held-for-Sale Because these loans are normally disposed of within ninety days of origination, their carrying value closely approximates the fair value of such loans. Loans Receivable For variable-rate loans that re-price frequently and with no significant changes in credit risk, fair value approximates the carrying value. Fair values for other loans are estimated using the discounted value of expected future cash flows. Interest rates used are those being offered currently for loans with similar terms to borrowers of similar credit quality. The carrying amount of accrued interest receivable approximates its fair value. Deposit Liabilities The fair values for demand deposit accounts are, by definition, equal to the amount payable on demand at the reporting date, that is, their carrying amounts. Fair values for other deposit accounts are estimated using the discounted value of expected future cash flows. The discount rate is estimated using the rates currently offered for deposits of similar maturities. Advances from Federal Home Loan Bank The carrying amount of short-term borrowings approximates their fair value. The fair value of long-term debt is estimated using discounted cash flow analyses based on current incremental borrowing rates for similar borrowing arrangements. Off-Balance Sheet Credit-Related Instruments Fair values for outstanding mortgage loan commitments to lend are based on fees currently charged to enter into similar agreements, taking into account the remaining term of the agreements, customer credit quality, and changes in lending rates. The fair value of interest rate floors and caps contained in some loan servicing agreements and variable rate mortgage loan contracts are considered immaterial within the context of fair value disclosure requirements. Accordingly, no fair value estimate is provided for these instruments. At June 30, 2019 and 2018, the carrying amount and estimated fair values of the Company’s financial instruments were as follows: 2019 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (In Thousands) Financial Assets Cash and Cash Equivalents $ 18,108 $ 18,108 $ 15,867 $ 15,867 Securities Available-for-Sale 41,655 41,655 29,324 29,324 Securities to be Held-to-Maturity 25,349 25,532 28,888 27,818 Loans Held-for-Sale 8,608 8,608 6,762 6,762 Loans Receivable $ 324,134 $ 310,812 $ 317,493 $ 314,724 Financial Liabilities Deposits $ 388,164 $ 368,212 $ 360,260 $ 345,347 Advances from FHLB 1,355 1,246 11,637 11,517 Off-Balance Sheet Items Mortgage Loan Commitments $ 8,981 $ 8,981 $ 5,827 $ 5,827 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, 2019. Fair values of assets and liabilities measured on a recurring basis at June 30, 2019 and 2018 are as follows: Fair Value Measurements June 30, 2019 (Level 1) (Level 2) (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 8,080 $ -- $ 8,080 FNMA -- 25,277 -- 25,277 GNMA -- 8,298 -- 8,298 Total $ -- $ 41,655 $ -- $ 41,655 Fair Value Measurements June 30, 2018 (Level 1) (Level 2) (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 7,085 $ -- $ 7,085 FNMA -- 11,912 -- 11,912 GNMA -- 10,327 -- 10,327 Total $ -- $ 29,324 $ -- $ 29,324 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, 2019 or 2018. The following tables present the Company’s assets and liabilities measured at fair value on a non-recurring basis at June 30, 2019 and 2018. Fair Value Measurements June 30, 2019 (Level 1) (Level 2) (Level 3) Total (In Thousands) Assets: Impaired Loans, Net of Allowance $ -- $ -- $ 7,000 $ 7,000 Other Real Estate Owned -- -- 1,366 1,366 Total $ -- $ -- $ 8,366 $ 8,366 Fair Value Measurements June 30, 2018 (Level 1) (Level 2) (Level 3) Total (In Thousands) Assets: Impaired Loans, Net of Allowance $ -- $ -- $ 8,448 $ 8,448 Other Real Estate Owned -- -- 1,177 1,177 Total $ -- $ -- $ 9,625 $ 9,625 |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 and 2018: 2019 2018 Average Common Shares Issued 1,873,789 1,918,831 Average Unearned ESOP Shares (104,195 ) (115,724 ) Average Unearned RRP Trust Shares (1,858 ) (3,572 ) Weighted Average Number of Common Shares Used in Basic EPS 1,767,736 1,799,535 Effect of Dilutive Securities Stock Options 126,275 111,592 Weighted Average Number of Common Shares and Dilutive Potential Common Shares Used in Dilutive EPS 1,894,011 1,911,127 Earnings per share are computed using the weighted average number of shares outstanding as prescribed in GAAP. For the years ended June 30, 2019 and 2018, there were outstanding options to purchase 284,465 and 292,050 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 | |
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, 2019 and 2018 is as follows: HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Balance Sheets June 30, 2019 and 2018 June 30, 2019 2018 (In Thousands) Assets Cash and Cash Equivalents $ 64 $ 128 Investment in Subsidiary 50,559 47,024 Other Assets 209 213 Total Assets $ 50,832 $ 47,365 Liabilities and Stockholders' Equity Borrowings $ 450 $ 300 Other Liabilities 40 28 Stockholders' Equity 50,342 47,037 Total Liabilities and Stockholders' Equity $ 50,832 $ 47,365 HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Operations For the Years Ended June 30, 2019 and 2018 For the Years Ended June 30, 2019 2018 (In Thousands) Equity in Undistributed Earnings of Subsidiary $ 4,968 $ 3,791 Interest Income 68 74 Total Income 5,036 3,865 Operating Expenses 344 377 Interest Expense 9 4 Total Expense 353 381 Income Before Income Tax Benefit 4,683 3,484 Income Tax Benefit (60 ) (84 ) Net Income $ 4,743 $ 3,568 HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Cash Flows For the Years Ended June 30, 2019 and 2018 For the Years Ended June 30, 2019 2018 (In Thousands) Operating Activities Net Income $ 4,743 $ 3568 Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Equity in Undistributed Earnings of Subsidiary (4,968 ) (3,791 ) Decrease (Increase) in Other Assets 4 62 (Decrease) Increase in Other Liabilities 11 (11 ) Net Cash Used in Operating Activities (210 ) (172 ) Financing Activities Distribution from Subsidiary 2,500 2,000 Proceeds from Stock Options Exercised 325 53 Proceeds of Borrowings 900 800 Repayment of Borrowings (750 ) (500 ) Proceeds Received from Subsidiary on Stock Compensation Programs 669 629 Company Stock Purchased (2,447 ) (1,955 ) Dividends Paid (1,051 ) (924 ) Net Cash Provided by Financing Activities 146 103 Decrease in Cash and Cash Equivalents (64 ) (69 ) Cash and Cash Equivalents, Beginning of Year 128 197 Cash and Cash Equivalents, End of Year $ 64 $ 128 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2019 | |
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 seven branch offices, five 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 of Estimates 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 Group Concentrations of Credit Risk Most of the Company’s activities are provided to customers of the Bank by seven branch offices, five 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, 2019 and 2018, cash and cash equivalents consisted of the following: 2019 2018 (In Thousands) Cash on Hand $ 1,004 $ 861 Demand Deposits at Other Institutions 14,329 6,206 Federal Funds Sold 2,775 8,800 Total $ 18,108 $ 15,867 |
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, 2019 and 2018. 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 Receivable | Loans Receivable 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. |
Other Real Estate Owned | Other Real Estate Owned Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are carried at the lower of cost or current fair value minus estimated cost to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management, and the assets are carried at the lower of carrying amount or fair value less cost to sell. |
Premises and Equipment | Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. 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 $362,000 and $ 185,000 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, 2019 and 2018, 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 consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss). The components of other comprehensive income (loss) and related tax effects are as follows: 2019 2018 (In Thousands) Gross Unrealized Holding Gains/(Losses) Arising During the Period $ 1,349 $ (790 ) Tax Effect (283 ) 96 Net Unrealized Holding Gains/(Losses) Arising During the Period $ 1,066 $ (694 ) The components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows: 2019 2018 (In Thousands) Net Unrealized Gain (Loss) on Securities Available-for-Sale $ 26 $ (1,323 ) Tax Effect (6 ) 277 Net-of-Tax Amount $ 20 $ (1,046 ) |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued ASU 2016-01, Financial Instruments Technical Corrections and Improvements to Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities 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 did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases 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 June 2016, the FASB issued ASU 2016-13, 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 In November 2017, the FASB issued ASU 2017-14, Income Statement – Reporting Comprehensive Income Revenue Recognition Revenue from Contracts with Customers In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income In May 2018, the FASB issued ASU 2018-06, Codification Improvements to Topic 942, Financial Services – Depository and Lending In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement.” The ASU removes, modifies, and adds certain disclosure requirements for fair value measurements. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019. In addition, entities may early adopt the modified or eliminated disclosure requirements and delay adoption of the additional disclosure requirements until effective date. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Summary of Significant Accounting Policies [Abstract] | |
Cash and Cash Equivalents | At June 30, 2019 and 2018, cash and cash equivalents consisted of the following: 2019 2018 (In Thousands) Cash on Hand $ 1,004 $ 861 Demand Deposits at Other Institutions 14,329 6,206 Federal Funds Sold 2,775 8,800 Total $ 18,108 $ 15,867 |
Estimated Useful Lives | 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) and related tax effects are as follows: 2019 2018 (In Thousands) Gross Unrealized Holding Gains/(Losses) Arising During the Period $ 1,349 $ (790 ) Tax Effect (283 ) 96 Net Unrealized Holding Gains/(Losses) Arising During the Period $ 1,066 $ (694 ) |
Components of Accumulated Other Comprehensive Income Included in Stockholders' Equity | The components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows: 2019 2018 (In Thousands) Net Unrealized Gain (Loss) on Securities Available-for-Sale $ 26 $ (1,323 ) Tax Effect (6 ) 277 Net-of-Tax Amount $ 20 $ (1,046 ) |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Debt Securities FHLMC Mortgage-Backed Certificates $ 8,168 $ 43 $ 131 $ 8,080 FNMA Mortgage-Backed Certificates 25,071 355 149 25,277 GNMA Mortgage-Backed Certificates 8,390 19 111 8,298 Total Debt Securities 41,629 417 391 41,655 Total Securities Available-for-Sale $ 41,629 $ 417 $ 391 $ 41,655 Securities Held-to-Maturity Debt Securities GNMA Mortgage-Backed Certificates $ 1,134 $ -- $ 18 $ 1,116 FNMA Mortgage-Backed Certificates 21,308 338 137 21,509 Total Debt Securities 22,442 338 155 22,625 Equity Securities (Non-Marketable) 26,571 2,657 -- -- 2,657 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,907 -- -- 2,907 Total Securities Held-to-Maturity $ 25,349 $ 338 $ 414 $ 25,532 June 30, 2018 Securities Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Debt Securities FHLMC Mortgage-Backed Certificates $ 7,601 $ 2 $ 518 $ 7,085 FNMA Mortgage-Backed Certificates 12,465 1 554 11,912 GNMA Mortgage-Backed Certificates 10,581 2 256 10,327 Total Debt Securities 30,647 5 1,328 29,324 Total Securities Available-for-Sale $ 30,647 $ 5 $ 1,328 $ 29,324 Securities Held-to-Maturity Debt Securities GNMA Mortgage-Backed Securities $ 1,160 $ -- $ 45 $ 1,115 FNMA Mortgage-Backed Securities 24,882 -- 1,025 23,857 Total Debt Securities 26,042 -- 1,070 24,972 Equity Securities (Non-Marketable) 25,959 Shares – Federal Home Loan Bank 2,596 -- -- 2,596 630 Shares – First National Bankers Bankshares, Inc. 250 -- -- 250 Total Equity Securities 2,846 -- -- 2,846 Total Securities Held-to-Maturity $ 28,888 $ -- $ 1,070 $ 27,818 |
Amortized Cost and Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities by contractual maturity at June 30, 2019, follows: Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In Thousands) Debt Securities Within One Year or Less $ 31 $ 32 $ -- $ -- One through Five Years 14,245 14,168 -- -- After Five through Ten Years 16,819 16,685 -- -- Over Ten Years 10,534 10,770 22,442 22,625 41,629 41,655 22,442 22,625 Other Equity Securities -- -- 2,907 2,907 Total $ 41,629 $ 41,655 $ 25,349 $ 25,532 |
Information Pertaining to Securities with Gross Unrealized Losses, Continuous Loss Position | Information pertaining to securities with gross unrealized losses at June 30, 2019 and 2018, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: June 30, 2019 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In Thousands) Securities Available-for-Sale Mortgage-Backed Securities $ -- $ -- $ 391 $ 19,149 Total Securities Available-for-Sale $ -- $ -- $ 391 $ 19,149 June 30, 2018 Less Than Twelve Months Over Twelve Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In Thousands) Securities Available-for-Sale Mortgage-Backed Securities $ 71 $ 4,709 $ 1,257 $ 24,547 Total Securities Available-for-Sale $ 71 $ 4,709 $ 1,257 $ 24,547 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Loans Receivable [Abstract] | |
Loans Receivable | Loans receivable at June 30, 2019 and 2018, are summarized as follows: 2019 2018 (In Thousands) Loans Secured by Mortgages on Real Estate One-to-Four Family Residential $ 118,945 $ 121,257 Commercial 83,397 74,416 Multi-Family Residential 46,171 38,079 Land 16,106 20,474 Construction 9,502 11,921 Equity and Second Mortgage 1,262 1,541 Equity Lines of Credit 15,619 17,387 Total Mortgage Loans 291,002 285,075 Commercial Loans 35,990 35,458 Consumer Loans Loans on Savings Accounts 439 462 Other Consumer Loans 329 185 Total Consumer Other Loans 768 647 Total Loans 327,760 321,180 Less: Allowance for Loan Losses (3,452 ) (3,425 ) Unamortized Loan Fees (174 ) (262 ) Net Loans Receivable $ 324,134 $ 317,493 |
Analysis of Allowance for Loan Losses | An analysis of the allowance for loan losses follows: 2019 2018 (In Thousands) Balance - Beginning of Year $ 3,425 $ 3,729 Provision for Loan Losses 600 1,050 Recoveries 13 26 Loan Charge-Offs (586 ) (1,380 ) Balance – End of Year $ 3,452 $ 3,425 |
Fixed Rate Loans and Adjustable Rate Loans Receivable | Fixed rate loans receivable, as of June 30, 2019, are scheduled to mature and adjustable rate loans are scheduled to re-price as follows (in thousands) Under Over One Over Five Over One to Five to Ten Ten Year Years Years Years Total Loans Secured by One-to-Four (In Thousands) Family Residential Fixed Rate $ 6,364 $ 42,923 $ 6,465 $ 30,634 $ 86,386 Adjustable Rate 1,337 11,280 8,349 11,593 32,559 Other Loans Secured by Real Estate Fixed Rate 29,867 68,282 29,210 4,550 131,909 Adjustable Rate 19,743 9,357 -- 11,048 40,148 All Other Loans Fixed Rate 3,624 16,846 712 -- 21,182 Adjustable Rate 15,576 -- -- -- 15,576 Total $ 76,511 $ 148,688 $ 44,736 $ 57,825 $ 327,760 |
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, 2019 and 2018: June 30, 2019 Pass and Pass Watch Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 118,459 $ 17 $ 469 $ -- $ 118,945 Commercial 80,087 -- 3,310 -- 83,397 Multi-Family Residential 46,171 -- -- -- 46,171 Land 13,126 -- 2,980 -- 16,106 Construction 9,502 -- -- -- 9,502 Equity and Second Mortgage 1,168 64 30 -- 1,262 Equity Lines of Credit 15,619 -- -- -- 15,619 Commercial Loans 35,367 -- 623 -- 35,990 Consumer Loans 768 -- -- -- 768 Total $ 320,267 $ 81 $ 7,412 $ -- $ 327,760 June 30, 2018 Pass and Pass Watch Special Mention Substandard Doubtful Total (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 120,317 $ 652 $ 996 $ -- $ 121,257 Commercial 74,416 -- 4,060 -- 74,416 Multi-Family Residential 38,079 -- -- -- 38,079 Land 20,474 -- -- -- 20,474 Construction 11,921 -- -- -- 11,921 Equity and Second Mortgage 1,541 -- -- -- 1,541 Equity Lines of Credit 17,300 -- 87 -- 17,387 Commercial Loans 29,817 -- 873 -- 35,458 Consumer Loans 647 -- -- -- 647 Total $ 314,512 $ 652 $ 6,016 $ -- $ 321,180 |
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, 2019 and 2018, is as follows: June 30, 2019 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 $ 2,204 $ 715 $ 596 $ 3,515 $ 115,430 $ 118,945 $ 420 Commercial -- -- -- -- 83,397 83,397 -- Multi-Family Residential -- -- -- -- 46,171 46,171 -- Land -- -- 2,981 2,981 13,125 16,106 -- Construction -- -- -- -- 9,502 9,502 -- Equity and Second Mortgage 120 -- -- 120 1,142 1,262 -- Equity Lines of Credit -- 49 -- 49 15,570 15,619 -- Commercial Loans -- -- 215 215 35,775 35,990 49 Consumer Loans -- -- -- -- 768 768 -- Total $ 2,324 $ 764 $ 3,792 $ 6,880 $ 320,880 $ 327,760 $ 469 June 30, 2018 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 $ 1,481 $ 230 $ 1,954 $ 3,665 $ 117,592 $ 121,257 $ 680 Commercial -- -- -- -- 74,416 74,416 -- Multi-Family Residential -- -- -- -- 38,079 38,079 -- Land -- -- -- -- 20,474 20,474 -- Construction -- -- -- -- 11,921 11,921 -- Equity and Second Mortgage -- -- -- -- 1,541 1,541 -- Equity Lines of Credit 134 59 117 310 17,077 17,387 30 Commercial Loans -- -- 416 416 35,042 35,458 -- Consumer Loans -- -- -- -- 647 647 -- Total $ 1,615 $ 289 $ 2,487 $ 4,391 $ 316,789 $ 321,180 $ 710 |
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, 2019 and 2018 was as follows: Real Estate Loans June 30, 2019 Residential Commercial Multi-Family Land Construction Other Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,166 $ 436 $ 256 $ 161 $ 163 $ 311 $ 929 $ 3 $ 3,425 Charge-Offs (277 ) -- -- (289 ) -- (20 ) -- -- (586 ) Recoveries -- -- -- -- -- 13 -- -- 13 Current Provision 128 72 82 228 (48 ) ( 160 ) 298 -- 600 Ending Balances $ 1,017 $ 508 $ 338 $ 100 $ 115 $ 144 $ 1,227 $ 3 $ 3,452 Evaluated for Impairment: Individually -- 238 -- -- -- -- -- -- 238 Collectively 1, 017 270 338 100 115 144 1,227 3 3,214 Loans Receivable: Ending Balances - Total $ 118,945 $ 83,397 $ 46,171 $ 16,106 $ 9,502 $ 16,881 $ 35,990 $ 768 $ 327,760 Ending Balances: Evaluated for Impairment: Individually 469 3,310 -- 2,980 -- 30 623 -- 7,412 Collectively $ 118,476 $ 80,087 $ 46,171 $ 13,126 $ 9,502 $ 16,851 $ 35,367 $ 768 $ 320,348 Real Estate Loans June 30, 2018 Residential Commercial Multi- Family Land Construction Other Commercial Loans Consumer Loans Total (In Thousands) Allowance for loan losses: Beginning Balances $ 1,822 $ 353 $ 73 $ 203 $ 147 $ 142 $ 979 $ 10 $ 3,729 Charge-Offs (797 ) -- -- (109 ) -- (217 ) (250 ) (7 ) (1,380 ) Recoveries 5 -- -- 20 -- 1 -- -- 26 Current Provision 136 83 183 47 16 385 200 -- 1,050 Ending Balances $ 1,166 $ 436 $ 256 $ 161 $ 163 $ 311 $ 929 $ 3 $ 3,425 Evaluated for Impairment: Individually -- -- -- -- -- -- -- -- -- Collectively 1, 166 436 256 161 163 311 929 3 3,425 Loans Receivable: Ending Balances – Total $ 121,257 $ 74,416 $ 38,079 $ 20,474 $ 11,921 $ 18,928 $ 35,458 $ 647 $ 321,180 Ending Balances: Evaluated for Impairment: Individually 1,648 4,060 -- -- -- 87 873 -- 6,668 Collectively $ 119,609 $ 70,356 $ 38,079 $ 20,474 $ 11,921 $ 18,841 $ 34,585 $ 647 $ 314,512 |
Loans Individually Evaluated for Impairment Segregated by Class of Loans | The following table’s present loans individually evaluated for impairment, segregated by class of loans, as of June 30, 2019 and 2018: June 30, 2019 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 $ 469 $ 469 $ -- $ 469 $ -- $ 474 Commercial 3,310 -- 3,310 3,310 238 3,877 Multi-Family Residential -- -- -- -- -- -- Land 2,980 2,980 -- 2,980 -- 2,951 Construction -- -- -- -- -- -- Equity and Second Mortgage 30 30 -- 30 -- 30 Equity Lines of Credit -- -- -- -- -- -- Commercial Loans 623 623 -- 623 -- 630 Consumer Loans -- -- -- -- -- -- Total $ 7,412 $ 4,102 $ 3,310 $ 7,412 $ 238 $ 7,962 June 30, 2018 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 $ 1,648 $ 1,648 $ -- $ 1,648 $ -- $ 1,687 Commercial 4,060 4,060 -- 4,060 -- 4,186 Multi-Family Residential -- -- -- -- -- -- Land -- -- -- -- -- -- Construction -- -- -- -- -- -- Equity and Second Mortgage -- -- -- -- -- -- Equity Lines of Credit 87 87 -- 87 -- 87 Commercial Loans 873 873 -- 873 -- 877 Consumer Loans -- -- -- -- -- -- Total $ 6,668 $ 6,668 $ -- $ 6,668 $ -- $ 6,837 |
Information about TDRs | Information about the Company’s TDRs is as follows (in thousands): June 30, 2019 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial business $ 457 $ 122 $ 122 $ 579 1-4 Family Residential 76 -- -- 76 Commercial real estate 3,310 -- -- 3,310 June 30, 2018 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial business $ 4,943 $ 416 $ 416 $ 5,359 1-4 Family Residential 1,943 -- -- 1,943 |
Impaired Loans Segregated by Class of Loans | Impaired loans, segregated by class of loans, were as follows: 2019 2018 (In Thousands) Real Estate Loans: One-to-Four Family Residential $ 295 $ 2,586 Commercial 3,310 5,359 Multi-Family Residential -- -- Land 2,980 -- Construction -- -- Equity and Second Mortgage -- -- Equity Lines of Credit 30 87 Commercial Loans 623 416 Consumer Loans -- -- Total $ 7,238 $ 8,448 |
Accrued Interest Receivable (Ta
Accrued Interest Receivable (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Accrued Interest Receivable [Abstract] | |
Accrued Interest Receivable | Accrued interest receivable at June 30, 2019 and 2018 consisted of the following: 2019 2018 (In Thousands) Accrued Interest on: Mortgage Loans $ 391 $ 554 Other Loans 654 487 Investments 2 3 Mortgage-Backed Securities 125 102 Total $ 1,172 $ 1,146 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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: 2019 2018 (In Thousands) Land $ 4,594 $ 3,746 Buildings 10,590 8,614 Equipment 2,031 1,468 Construction in Progress 140 1,681 17,355 15,509 Accumulated Depreciation (3,801 ) (3,266 ) Total $ 13,554 $ 12,243 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Deposits [Abstract] | |
Deposits | Deposits at June 30, 2019 and 2018 are summarized as follows: Weighted Average Rate at Weighted Average Rate at 2019 2018 6/30/2019 6/30/2018 Amount Percent Amount Percent (Dollars in Thousands) Non-Interest Bearing 0.00 % 0.00 % $ 59,351 15.29 % $ 58,001 16.10 % NOW Accounts 0.55 % 0.67 % 31,045 8.00 34,576 9.60 Money Market 1.21 % 0.84 % 74,934 19.31 70,175 19.48 Passbook Savings 0.77 % 0.53 % 39,569 10.19 36,241 10.06 204,899 52.79 198,993 55.24 Certificates of Deposit 2.07 % 1.56 % 183,265 47.21 161,267 44.76 Total Deposits $ 388,164 100.00 % $ 360,260 100.00 % |
Composition of Certificates of Deposit Accounts by Interest Rate | The composition of certificates of deposit accounts by interest rate is as follows: 2019 2018 Amount Percent Amount Percent (Dollars in Thousands) 0.00% to 0.99% $ 12,627 6.89 % $ 15,310 9.49 % 1.00% to 1.99% 65,745 35.87 121,572 75.39 2.00% to 2.99% 102,767 56.08 24,234 15.03 3.00% to 3.99% 2,126 1.16 151 0.09 Total Deposits $ 183,265 100.00 % $ 161,267 100.00 % |
Maturities of Certificates of Deposit Accounts | Maturities of certificates of deposit accounts at June 30, 2019 are scheduled as follows: Year Ending June 30, Amount Percent Weighted Average Rate (Dollars in Thousands) 2020 $ 97,610 53.26 % 1.95 % 2021 41,627 22.72 2.00 2022 25,850 14.11 2.27 2023 7,336 4.00 2.13 2024 10,375 5.66 2.80 2025 467 0.25 2.98 Total $ 183,265 100.00 % 2.07 % |
Interest Expense on Deposits | Interest expense on deposits for the years ended June 30, 2019 and 2018 was as follows: 2019 2018 (In Thousands) NOW and Money Market $ 927 $ 458 Passbook Savings 195 194 Certificates of Deposit 3,258 2,394 Total $ 4,380 $ 3,046 |
Advances from Federal Home Lo_2
Advances from Federal Home Loan Bank of Dallas (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Advances from Federal Home Loan Bank of Dallas [Abstract] | |
Advances | Advances at June 30, 2019 and 2018 consisted of the following: Advance Total Contract Rate 2019 2018 (In Thousands) 0.00% to 0.99% $ -- $ -- 1.00% to 1.99% -- -- 2.00% to 2.99% -- 10,000 3.00% to 3.99% -- -- 4.00% to 4.99% 1,355 1,637 Total $ 1,355 $ 11,637 |
Maturities of Advances | Maturities of advances at June 30, 2019 are as follows (in thousands): Year Ending June 30, Amount 2020 $ 295 2021 192 2022 34 2023 36 2024 798 Thereafter -- Total $ 1,355 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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 2020 $ 52 2021 48 Total $ 100 |
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) 2020 $ 346 2021 346 2022 346 2023 346 2024 317 Total $ 1,701 |
Future Minimum Commitments for Employment Contracts | The future minimum commitments for employment contracts are as follows : Year Ending June 30, Amount (In Thousands) 2020 $ 194 2021 194 2022 194 Total $ 582 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Income Taxes [Abstract] | |
Income Tax Expense | Income tax expense for the years ended June 30, 2019 and 2018 is summarized as follows: 2019 2018 (In Thousands) Current $ 1,313 $ 1,753 Deferred (30 ) 499 Total $ 1,283 $ 2,252 |
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: 2019 2018 (In Thousands) Computed at Expected Statutory Rate $ 1,265 $ 2,322 Non-Taxable Income -- (46 ) Other 18 (24 ) Provision for Income Tax Expense $ 1,283 $ 2,252 |
Net Deferred Income Tax Asset and Liability | The net deferred income tax asset and liability consisted of the following components at June 30, 2019 and 2018: 2019 2018 (In Thousands) Deferred Tax Assets Market Value Adjustment to Available-for-Sale Securities $ (5 ) $ 278 Stock Option and SERP Compensation 223 199 Loans Receivable - Bad Debt Loss Allowance 659 653 Capital Losses 92 45 969 1,175 Valuation Allowance (120 ) (73 ) Net Deferred Tax Assets $ 849 $ 1,102 |
Employee Stock Ownership Plan (
Employee Stock Ownership Plan (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Employee Stock Ownership Plan [Abstract] | |
ESOP Shares | The ESOP shares as of June 30, 2019 and 2018, were as follows: 2019 2018 Allocated and Committed to be Released Shares, Beginning of Year 110,228 99,205 Shares Allocated and Committed to be Released During the Year 11,023 11,023 Unallocated and Unreleased Shares, as of Year End 95,642 106,665 Total ESOP Shares 216,893 216,893 Fair Value of Unreleased Shares (In Thousands) $ 3,180 $ 3,355 Stock Price $ 33.25 $ 31.45 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Stock-Based Compensation [Abstract] | |
Summary of Status of Share Awards Outstanding | Following is a summary of the status of the share awards outstanding under the 2011 Recognition Plan and Stock Incentive Plan during the fiscal years ended June 30, 2019 and 2018: Awarded Shares 2019 2018 Balance - Beginning of Year 23,527 31,937 Granted -- -- Forfeited -- -- Earned and Issued (8,410 ) (8,410 ) Balance - End of Year 15,117 23,527 |
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, 2019 and 2018: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value Outstanding at June 30, 2018 292,050 $ 17.79 5.05 $ 3,986,887 Granted 13,500 31.25 Exercised (20,918 ) 15.35 Forfeited -- -- Outstanding at June 30, 2019 284,632 $ 18.65 4.40 $ 4,138,129 Options Exercisable at June 30, 2019 225,265 $ 17.12 3.73 $ 3,642,423 Outstanding at June 30, 2017 300,150 $ 17.83 6.07 Granted -- -- Exercised (3,600 ) 14.70 Forfeited (4,500 ) 14.70 Outstanding at June 30, 2018 292,050 $ 17.79 5.05 $ 3,986,887 Options Exercisable at June 30, 2018 220,122 $ 16.32 4.38 $ 3,327,981 |
Assumptions Used in Estimating Fair Value of Each Option Granted | 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 2014 Stock Incentive Plan 2011 Option Plan February 5, 2019 October 26, 2015 July 31, 2014 Dividend Yield 1.79 % 1.39 % 1.50 % Expected Term 10 years 10 years 10 years Risk-Free Interest Rate 2.71 % 2.07 % 2.58 % Expected Life 10 years 10 years 10 years Expected Volatility (1) 16.17 % 20.38 % 9.56 % (1) Weekly volatility is annualized by multiplying by the square root of 52. |
Summary of Status of Nonvested Options | A summary of the status of the Company’s nonvested options as of June 30, 2019 and changes during the year ended June 30, 2019 is as follows: Number of Shares Weighted Average Exercise Price Nonvested at June 30, 2018 71,928 $ 22.29 Granted 13,500 31.25 Vested (26,061 ) 22.02 Forfeited -- -- Nonvested at June 30, 2019 59,367 $ 24.45 |
Off-Balance Sheet Activities (T
Off-Balance Sheet Activities (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Off-Balance Sheet Activities [Abstract] | |
Financial Instruments Outstanding | At June 30, 2019 and 2018, the following financial instruments were outstanding: Contract Amount 2019 2018 (In Thousands) Commitments to Grant Loans $ 40,582 $ 43,595 Unfunded Commitments Under Lines of Credit 8,981 11,142 $ 49,563 $ 54,737 Fixed Rate Loans (3.75% - 5.50 $ 49,563 $ 54,737 Variable Rate Loans ( -- -- -- $ 49,563 $ 54,737 |
Related Party Events (Tables)
Related Party Events (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Related Party Events [Abstract] | |
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, 2019 and 2018: 2019 2018 (In Thousands) Balance – Beginning of Year $ 2,602 $ 2,842 Additions 1,071 236 Principal Payments (846 ) (476 ) Balance – End of Year $ 2,827 $ 2,602 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 and 2018: Actual Required for Capital Adequacy Purposes Amount Ratio Amount Ratio (Dollars in Thousands) June 30, 2019 Core Capital (1 ) $ 50,171 11.37 % $ 13,235 3.00 % Common Equity Tier 1 (2 ) 50,171 16.51 13,678 4.50 Tangible Capital (1 ) 50,171 11.37 6,618 1.50 Total Risk-Based Capital (2 ) 53,623 17.64 24,316 8.00 June 30, 2018 Core Capital (1 ) $ 47,981 11.36 % $ 12,675 3.00 % Common Equity Tier 1 (2 ) 47,981 16.65 12,969 4.50 Tangible Capital (1 ) 47,981 11.36 6,337 1.50 Total Risk-Based Capital (2 ) 51,406 17.84 23,057 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, 2019 and 2018: Actual Required to be Well Capitalized Amount Ratio Amount Ratio (Dollars in Thousands) June 30, 2019 Tier 1 Leverage Capital (1 ) $ 50,171 11.37 % $ 22,059 5.00 % Common Equity Tier 1 (2 ) 50,171 16.51 19,756 6.50 Tier 1 Risk-Based Capital (2 ) 50,171 16.51 24,316 8.00 Total Risk-Based Capital (2 ) 53,623 17.64 30,395 10.00 June 30, 2018 Tier 1 Leverage Capital (1 ) $ 47,981 11.36 % $ 21,125 5.00 % Common Equity Tier 1 (2 ) 47,981 16.65 18,734 6.50 Tier 1 Risk-Based Capital (2 ) 47,981 16.65 23,057 8.00 Total Risk-Based Capital (2 ) 51,406 17.84 28,821 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, 2019 and 2018 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, 2019 Ratio Amount Ratio Amount (Dollars in Thousands) Total Equity, and Ratio to Average Total Assets 11.39 % $ 50,559 Investments in and Advances to Nonincludable Subsidiaries (118 ) Unrealized Gains on Securities Available-for-Sale (20 ) Non-significant investments Capital Stock (250 ) Tangible Capital, and Ratio to Adjusted Total Assets 11.37 % $ 50,171 1.50 % $ 6,618 Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets 11.37 % $ 50,171 3.00 % 13,235 Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets 16.51 % 50,171 4.50 % 13,678 Allowance for Loan Losses 3,452 Excess Allowance for Loan Losses -- Total Risk-Based Capital, and Ratio to Risk-Weighted Assets 17.64 % $ 53,623 8.00 % $ 24,316 Average Total Assets $ 441,564 Adjusted Total Assets $ 441,176 Risk-Weighted Assets $ 303,946 Actual Minimum for Capital Adequacy Purposes June 30, 2018 Ratio Amount Ratio Amount (Dollars in Thousands) Total Equity, and Ratio to Average Total Assets 11.10 % $ 46,775 Investments in and Advances to Nonincludable Subsidiaries (119 ) Unrealized Gains on Securities Available-for-Sale 1,325 Tangible Capital, and Ratio to Adjusted Total Assets 11.36 % $ 47,981 1.50 % $ 6,337 Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets 11.36 % $ 47,981 3.00 % 12,675 Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets 16.65 % 47,981 4.50 % 12,969 Allowance for Loan Losses 3,425 Excess Allowance for Loan Losses -- Total Risk-Based Capital, and Ratio to Risk-Weighted Assets 17.84 % $ 51,406 8.00 % $ 23,057 Average Total Assets $ 421,548 Adjusted Total Assets $ 422,504 Risk-Weighted Assets $ 288,208 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Carrying Amount and Estimated Fair Values of Financial Instruments | At June 30, 2019 and 2018, the carrying amount and estimated fair values of the Company’s financial instruments were as follows: 2019 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (In Thousands) Financial Assets Cash and Cash Equivalents $ 18,108 $ 18,108 $ 15,867 $ 15,867 Securities Available-for-Sale 41,655 41,655 29,324 29,324 Securities to be Held-to-Maturity 25,349 25,532 28,888 27,818 Loans Held-for-Sale 8,608 8,608 6,762 6,762 Loans Receivable $ 324,134 $ 310,812 $ 317,493 $ 314,724 Financial Liabilities Deposits $ 388,164 $ 368,212 $ 360,260 $ 345,347 Advances from FHLB 1,355 1,246 11,637 11,517 Off-Balance Sheet Items Mortgage Loan Commitments $ 8,981 $ 8,981 $ 5,827 $ 5,827 |
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, 2019 and 2018 are as follows: Fair Value Measurements June 30, 2019 (Level 1) (Level 2) (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 8,080 $ -- $ 8,080 FNMA -- 25,277 -- 25,277 GNMA -- 8,298 -- 8,298 Total $ -- $ 41,655 $ -- $ 41,655 Fair Value Measurements June 30, 2018 (Level 1) (Level 2) (Level 3) Total (In Thousands) Available-for-Sale Debt Securities FHLMC $ -- $ 7,085 $ -- $ 7,085 FNMA -- 11,912 -- 11,912 GNMA -- 10,327 -- 10,327 Total $ -- $ 29,324 $ -- $ 29,324 |
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, 2019 and 2018. Fair Value Measurements June 30, 2019 (Level 1) (Level 2) (Level 3) Total (In Thousands) Assets: Impaired Loans, Net of Allowance $ -- $ -- $ 7,000 $ 7,000 Other Real Estate Owned -- -- 1,366 1,366 Total $ -- $ -- $ 8,366 $ 8,366 Fair Value Measurements June 30, 2018 (Level 1) (Level 2) (Level 3) Total (In Thousands) Assets: Impaired Loans, Net of Allowance $ -- $ -- $ 8,448 $ 8,448 Other Real Estate Owned -- -- 1,177 1,177 Total $ -- $ -- $ 9,625 $ 9,625 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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, 2019 and 2018: 2019 2018 Average Common Shares Issued 1,873,789 1,918,831 Average Unearned ESOP Shares (104,195 ) (115,724 ) Average Unearned RRP Trust Shares (1,858 ) (3,572 ) Weighted Average Number of Common Shares Used in Basic EPS 1,767,736 1,799,535 Effect of Dilutive Securities Stock Options 126,275 111,592 Weighted Average Number of Common Shares and Dilutive Potential Common Shares Used in Dilutive EPS 1,894,011 1,911,127 |
Parent Company Financial Stat_2
Parent Company Financial Statements (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Parent Company Financial Statements [Abstract] | |
Condensed Balance Sheets | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Balance Sheets June 30, 2019 and 2018 June 30, 2019 2018 (In Thousands) Assets Cash and Cash Equivalents $ 64 $ 128 Investment in Subsidiary 50,559 47,024 Other Assets 209 213 Total Assets $ 50,832 $ 47,365 Liabilities and Stockholders' Equity Borrowings $ 450 $ 300 Other Liabilities 40 28 Stockholders' Equity 50,342 47,037 Total Liabilities and Stockholders' Equity $ 50,832 $ 47,365 |
Condensed Statements of Operations | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Operations For the Years Ended June 30, 2019 and 2018 For the Years Ended June 30, 2019 2018 (In Thousands) Equity in Undistributed Earnings of Subsidiary $ 4,968 $ 3,791 Interest Income 68 74 Total Income 5,036 3,865 Operating Expenses 344 377 Interest Expense 9 4 Total Expense 353 381 Income Before Income Tax Benefit 4,683 3,484 Income Tax Benefit (60 ) (84 ) Net Income $ 4,743 $ 3,568 |
Condensed Statements of Cash Flows | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Cash Flows For the Years Ended June 30, 2019 and 2018 For the Years Ended June 30, 2019 2018 (In Thousands) Operating Activities Net Income $ 4,743 $ 3568 Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Equity in Undistributed Earnings of Subsidiary (4,968 ) (3,791 ) Decrease (Increase) in Other Assets 4 62 (Decrease) Increase in Other Liabilities 11 (11 ) Net Cash Used in Operating Activities (210 ) (172 ) Financing Activities Distribution from Subsidiary 2,500 2,000 Proceeds from Stock Options Exercised 325 53 Proceeds of Borrowings 900 800 Repayment of Borrowings (750 ) (500 ) Proceeds Received from Subsidiary on Stock Compensation Programs 669 629 Company Stock Purchased (2,447 ) (1,955 ) Dividends Paid (1,051 ) (924 ) Net Cash Provided by Financing Activities 146 103 Decrease in Cash and Cash Equivalents (64 ) (69 ) Cash and Cash Equivalents, Beginning of Year 128 197 Cash and Cash Equivalents, End of Year $ 64 $ 128 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands | Dec. 22, 2010USD ($)$ / sharesshares | Jun. 30, 2019USD ($)Branch$ / shares | Jun. 30, 2018USD ($)$ / shares |
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 | ||
Significant Group Concentrations of Credit Risk [Abstract] | |||
Number of branch offices that provide services | Branch | 7 | ||
Cash and Cash Equivalents [Abstract] | |||
Cash on Hand | $ 1,004 | $ 861 | |
Demand Deposits at Other Institutions | 14,329 | 6,206 | |
Federal Funds Sold | 2,775 | 8,800 | |
Total | 18,108 | 15,867 | |
Securities [Abstract] | |||
Trading securities | 0 | 0 | |
Non-Direct Response Advertising [Abstract] | |||
Non-direct response advertising costs | 362 | 185 | |
Direct-response advertising costs | 0 | 0 | |
Other Comprehensive Income (Loss), Net of Tax | |||
Gross Unrealized Holding Gains/(Losses) Arising During the Period | 1,349 | (790) | |
Tax Effect | (283) | 96 | |
Net Unrealized Holding Gains/(Losses) Arising During the Period | 1,066 | (694) | |
Components of accumulated other comprehensive income (loss) included in Stockholders' Equity [Abstract] | |||
Net Unrealized Gain (Loss) on Securities Available-for-Sale | 26 | (1,323) | |
Tax Effect | (6) | 277 | |
Net-of-Tax Amount | $ 20 | $ (1,046) | |
Concentrations of Credit Risk [Member] | |||
Significant Group Concentrations of Credit Risk [Abstract] | |||
Number of branch offices that provide services | Branch | 7 | ||
Buildings and Improvements [Member] | Minimum [Member] | |||
Premises and Equipment [Abstract] | |||
Estimated useful lives | 10 years | ||
Buildings and Improvements [Member] | Maximum [Member] | |||
Premises and Equipment [Abstract] | |||
Estimated useful lives | 40 years | ||
Furniture and Equipment [Member] | Minimum [Member] | |||
Premises and Equipment [Abstract] | |||
Estimated useful lives | 3 years | ||
Furniture and Equipment [Member] | Maximum [Member] | |||
Premises and Equipment [Abstract] | |||
Estimated useful lives | 10 years | ||
Shreveport [Member] | |||
Significant Group Concentrations of Credit Risk [Abstract] | |||
Number of branch offices that provide services | Branch | 5 | ||
Shreveport [Member] | Concentrations of Credit Risk [Member] | |||
Significant Group Concentrations of Credit Risk [Abstract] | |||
Number of branch offices that provide services | Branch | 5 | ||
Bossier City [Member] | |||
Significant Group Concentrations of Credit Risk [Abstract] | |||
Number of branch offices that provide services | Branch | 2 | ||
Bossier City [Member] | Concentrations of Credit Risk [Member] | |||
Significant Group Concentrations of Credit Risk [Abstract] | |||
Number of branch offices that provide services | Branch | 2 |
Securities, Available-for-sale
Securities, Available-for-sale Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Available-for-sale Debt Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 41,629 | $ 30,647 |
Gross Unrealized Gains | 417 | 5 |
Gross Unrealized Losses | 391 | 1,328 |
Fair Value | 41,655 | 29,324 |
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 41,629 | 30,647 |
Gross Unrealized Gains | 417 | 5 |
Gross Unrealized Losses | 391 | 1,328 |
Fair Value | 41,655 | 29,324 |
FHLMC Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 8,168 | 7,601 |
Gross Unrealized Gains | 43 | 2 |
Gross Unrealized Losses | 131 | 518 |
Fair Value | 8,080 | 7,085 |
FNMA Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 25,071 | 12,465 |
Gross Unrealized Gains | 355 | 1 |
Gross Unrealized Losses | 149 | 554 |
Fair Value | 25,277 | 11,912 |
GNMA Mortgage-Backed Certificates [Member] | ||
Available-for-sale Debt Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 8,390 | 10,581 |
Gross Unrealized Gains | 19 | 2 |
Gross Unrealized Losses | 111 | 256 |
Fair Value | $ 8,298 | $ 10,327 |
Securities, Held-to-maturity Se
Securities, Held-to-maturity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | $ 25,349 | $ 28,888 |
Gross Unrealized Gains | 338 | 0 |
Gross Unrealized Losses | 414 | 1,070 |
Fair Value | 25,532 | 27,818 |
Debt Securities [Member] | ||
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 22,442 | 26,042 |
Gross Unrealized Gains | 338 | 0 |
Gross Unrealized Losses | 155 | 1,070 |
Fair Value | 22,625 | 24,972 |
GNMA Mortgage-Backed Securities [Member] | ||
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 1,134 | 1,160 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 18 | 45 |
Fair Value | 1,116 | 1,115 |
FNMA Mortgage-Backed Securities [Member] | ||
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 21,308 | 24,882 |
Gross Unrealized Gains | 338 | 0 |
Gross Unrealized Losses | 137 | 1,025 |
Fair Value | 21,509 | 23,857 |
Equity Securities (Non-Marketable) [Member] | ||
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 2,907 | 2,846 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 2,907 | 2,846 |
Federal Home Loan Bank [Member] | ||
Held-to-maturity Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized Cost | 2,657 | 2,596 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 2,657 | $ 2,596 |
Number of equity shares (in shares) | 26,571 | 25,959 |
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 |
Securities, Securities by Contr
Securities, Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Available-for-Sale, Amortized Cost [Abstract] | ||
Within One Year or Less | $ 31 | |
One through Five Years | 14,245 | |
After Five through Ten Years | 16,819 | |
Over Ten Years | 10,534 | |
Amortized Cost | 41,629 | $ 30,647 |
Other Equity Securities | 0 | |
Amortized Cost | 41,629 | 30,647 |
Available-for-Sale, Fair Value [Abstract] | ||
Within One Year or Less | 32 | |
One through Five Years | 14,168 | |
After Five through Ten Years | 16,685 | |
Over Ten Years | 10,770 | |
Fair Value | 41,655 | 29,324 |
Other Equity Securities | 0 | |
Fair Value | 41,655 | 29,324 |
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 | 22,442 | |
Amortized Cost | 22,442 | |
Other Equity Securities | 2,907 | |
Amortized Cost | 25,349 | 28,888 |
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 | 22,625 | |
Fair Value | 22,625 | |
Other Equity Securities | 2,907 | |
Fair Value | $ 25,532 | $ 27,818 |
Securities, Securities with Gro
Securities, Securities with Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Securities Available-for-sale Securities, Gross Unrealized Losses [Abstract] | ||
Less Than Twelve Months | $ 0 | $ 71 |
Over Twelve Months | 391 | 1,257 |
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Less Than Twelve Months | 0 | 4,709 |
Over Twelve Months | 19,149 | 24,547 |
Public Deposits [Member] | ||
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Securities pledged with carrying value | 2,300 | 1,200 |
FHLB Advances [Member] | ||
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Securities pledged with carrying value | 152,200 | 144,500 |
Mortgage-Backed Securities [Member] | ||
Securities Available-for-sale Securities, Gross Unrealized Losses [Abstract] | ||
Less Than Twelve Months | 0 | 71 |
Over Twelve Months | 391 | 1,257 |
Securities Available-for-sale Securities, Fair Value [Abstract] | ||
Less Than Twelve Months | 0 | 4,709 |
Over Twelve Months | $ 19,149 | $ 24,547 |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 |
Loan receivable [Abstract] | |||
Total Loans | $ 327,760 | $ 321,180 | |
Less: Allowance for Loan Losses | (3,452) | (3,425) | $ (3,729) |
Unamortized Loan Fees | (174) | (262) | |
Net Loans Receivable | 324,134 | 317,493 | |
Loans Secured by Mortgages on Real Estate Loans [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 291,002 | 285,075 | |
Loans Secured by Mortgages on Real Estate Loans [Member] | One-to-Four-Family Residential [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 118,945 | 121,257 | |
Loans Secured by Mortgages on Real Estate Loans [Member] | Commercial [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 83,397 | 74,416 | |
Less: Allowance for Loan Losses | (508) | (436) | (353) |
Loans Secured by Mortgages on Real Estate Loans [Member] | Multi-Family Residential [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 46,171 | 38,079 | |
Less: Allowance for Loan Losses | (338) | (256) | (73) |
Loans Secured by Mortgages on Real Estate Loans [Member] | Land [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 16,106 | 20,474 | |
Less: Allowance for Loan Losses | (100) | (161) | (203) |
Loans Secured by Mortgages on Real Estate Loans [Member] | Construction [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 9,502 | 11,921 | |
Less: Allowance for Loan Losses | (115) | (163) | (147) |
Loans Secured by Mortgages on Real Estate Loans [Member] | Equity and Second Mortgage [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 1,262 | 1,541 | |
Loans Secured by Mortgages on Real Estate Loans [Member] | Equity Lines of Credit [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 15,619 | 17,387 | |
Commercial Loans [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 35,990 | 35,458 | |
Less: Allowance for Loan Losses | (1,227) | (929) | (979) |
Consumer Loans [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 768 | 647 | |
Less: Allowance for Loan Losses | (3) | (3) | $ (10) |
Consumer Loans [Member] | Loans on Savings Accounts [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | 439 | 462 | |
Consumer Loans [Member] | Other Consumer Loans [Member] | |||
Loan receivable [Abstract] | |||
Total Loans | $ 329 | $ 185 |
Loans Receivable, Analysis of A
Loans Receivable, Analysis of Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Summary of changes in the allowance for loan losses [Roll Forward] | ||
Beginning Balances | $ 3,425 | $ 3,729 |
Provision for Loan Losses | 600 | 1,050 |
Recoveries | 13 | 26 |
Loan Charge-Offs | (586) | (1,380) |
Ending Balances | $ 3,452 | $ 3,425 |
Loans Receivable, Fixed Rate Lo
Loans Receivable, Fixed Rate Loans Receivable (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Fixed rate loans receivable [Abstract] | |
Under One Year | $ 76,511 |
Over One to Five Years | 148,688 |
Over Five to Ten Years | 44,736 |
Over Ten Years | 57,825 |
Total | 327,760 |
Loans Secured by One-to-Four Family Residential [Member] | Fixed Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Under One Year | 6,364 |
Over One to Five Years | 42,923 |
Over Five to Ten Years | 6,465 |
Over Ten Years | 30,634 |
Total | 86,386 |
Loans Secured by One-to-Four Family Residential [Member] | Adjustable Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Under One Year | 1,337 |
Over One to Five Years | 11,280 |
Over Five to Ten Years | 8,349 |
Over Ten Years | 11,593 |
Total | 32,559 |
Other Loans Secured by Real Estate [Member] | Fixed Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Under One Year | 29,867 |
Over One to Five Years | 68,282 |
Over Five to Ten Years | 29,210 |
Over Ten Years | 4,550 |
Total | 131,909 |
Other Loans Secured by Real Estate [Member] | Adjustable Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Under One Year | 19,743 |
Over One to Five Years | 9,357 |
Over Five to Ten Years | 0 |
Over Ten Years | 11,048 |
Total | 40,148 |
All Other Loans [Member] | Fixed Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Under One Year | 3,624 |
Over One to Five Years | 16,846 |
Over Five to Ten Years | 712 |
Over Ten Years | 0 |
Total | 21,182 |
All Other Loans [Member] | Adjustable Rate [Member] | |
Fixed rate loans receivable [Abstract] | |
Under One Year | 15,576 |
Over One to Five Years | 0 |
Over Five to Ten Years | 0 |
Over Ten Years | 0 |
Total | $ 15,576 |
Loans Receivable, Grading of Lo
Loans Receivable, Grading of Loans, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | $ 327,760 | $ 321,180 |
Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 320,267 | 314,512 |
Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 81 | 652 |
Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 7,412 | 6,016 |
Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 291,002 | 285,075 |
Real Estate Loans [Member] | One-to-Four-Family Residential [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 118,945 | 121,257 |
Real Estate Loans [Member] | One-to-Four-Family Residential [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 118,459 | 120,317 |
Real Estate Loans [Member] | One-to-Four-Family Residential [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 17 | 652 |
Real Estate Loans [Member] | One-to-Four-Family Residential [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 469 | 996 |
Real Estate Loans [Member] | One-to-Four-Family Residential [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Commercial [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 83,397 | 74,416 |
Real Estate Loans [Member] | Commercial [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 80,087 | 74,416 |
Real Estate Loans [Member] | Commercial [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Commercial [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 3,310 | 4,060 |
Real Estate Loans [Member] | Commercial [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 46,171 | 38,079 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 46,171 | 38,079 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 16,106 | 20,474 |
Real Estate Loans [Member] | Land [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 13,126 | 20,474 |
Real Estate Loans [Member] | Land [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 2,980 | 0 |
Real Estate Loans [Member] | Land [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Construction [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 9,502 | 11,921 |
Real Estate Loans [Member] | Construction [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 9,502 | 11,921 |
Real Estate Loans [Member] | Construction [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Construction [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Construction [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 1,262 | 1,541 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 1,168 | 1,541 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 64 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 30 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 15,619 | 17,387 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 15,619 | 17,300 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 87 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Commercial Loans [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 35,990 | 35,458 |
Commercial Loans [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 35,367 | 29,817 |
Commercial Loans [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Commercial Loans [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 623 | 873 |
Commercial Loans [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Consumer Loans [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 768 | 647 |
Consumer Loans [Member] | Pass and Pass Watch [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 768 | 647 |
Consumer Loans [Member] | Special Mention [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Consumer Loans [Member] | Substandard [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | 0 | 0 |
Consumer Loans [Member] | Doubtful [Member] | ||
Grading of Loans, Segregated by Class of Loans [Abstract] | ||
Gross loans receivable | $ 0 | $ 0 |
Loans Receivable, Aging Analysi
Loans Receivable, Aging Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | $ 6,880 | $ 4,391 |
Current | 320,880 | 316,789 |
Total Loans Receivable | 327,760 | 321,180 |
Recorded Investment > 90 Days and Accruing | 469 | 710 |
30-59 Days Past Due [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 2,324 | 1,615 |
60-89 Days Past Due [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 764 | 289 |
90 Days or More [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 3,792 | 2,487 |
Real Estate Loans [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Loans Receivable | 291,002 | 285,075 |
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 | 3,515 | 3,665 |
Current | 115,430 | 117,592 |
Total Loans Receivable | 118,945 | 121,257 |
Recorded Investment > 90 Days and Accruing | 420 | 680 |
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 | 2,204 | 1,481 |
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 | 715 | 230 |
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 | 596 | 1,954 |
Real Estate Loans [Member] | Commercial [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 0 | 0 |
Current | 83,397 | 74,416 |
Total Loans Receivable | 83,397 | 74,416 |
Recorded Investment > 90 Days and Accruing | 0 | 0 |
Real Estate Loans [Member] | Commercial [Member] | 30-59 Days Past Due [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 0 | 0 |
Real Estate Loans [Member] | Commercial [Member] | 60-89 Days Past Due [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 0 | 0 |
Real Estate Loans [Member] | Commercial [Member] | 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 | 46,171 | 38,079 |
Total Loans Receivable | 46,171 | 38,079 |
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 | 2,981 | 0 |
Current | 13,125 | 20,474 |
Total Loans Receivable | 16,106 | 20,474 |
Recorded Investment > 90 Days and Accruing | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | 30-59 Days Past Due [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | 60-89 Days Past Due [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | 90 Days or More [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 2,981 | 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 | 9,502 | 11,921 |
Total Loans Receivable | 9,502 | 11,921 |
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 | 120 | 0 |
Current | 1,142 | 1,541 |
Total Loans Receivable | 1,262 | 1,541 |
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 | 120 | 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 | 49 | 310 |
Current | 15,570 | 17,077 |
Total Loans Receivable | 15,619 | 17,387 |
Recorded Investment > 90 Days and Accruing | 0 | 30 |
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 | 0 | 134 |
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 | 49 | 59 |
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 | 0 | 117 |
Commercial Loans [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 215 | 416 |
Current | 35,775 | 35,042 |
Total Loans Receivable | 35,990 | 35,458 |
Recorded Investment > 90 Days and Accruing | 49 | 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 | 215 | 416 |
Consumer Loans [Member] | ||
Aging analysis of past due loans segregated by class of loans [Abstract] | ||
Total Past Due | 0 | 0 |
Current | 768 | 647 |
Total Loans Receivable | 768 | 647 |
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, 2019 | Jun. 30, 2018 | |
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | $ 3,425 | $ 3,729 |
Charge-Offs | (586) | (1,380) |
Recoveries | 13 | 26 |
Current Provision | 600 | 1,050 |
Ending Balances | 3,452 | 3,425 |
Evaluated for Impairment [Abstract] | ||
Individually | 238 | 0 |
Collectively | 3,214 | 3,425 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 327,760 | 321,180 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 7,412 | 6,668 |
Collectively | 320,348 | 314,512 |
Real Estate Loans [Member] | ||
Loans Receivable [Abstract] | ||
Ending Balances - Total | 291,002 | 285,075 |
Real Estate Loans [Member] | Residential [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 1,166 | 1,822 |
Charge-Offs | (277) | (797) |
Recoveries | 0 | 5 |
Current Provision | 128 | 136 |
Ending Balances | 1,017 | 1,166 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 1,017 | 1,166 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 118,945 | 121,257 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 469 | 1,648 |
Collectively | 118,476 | 119,609 |
Real Estate Loans [Member] | Commercial [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 436 | 353 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Current Provision | 72 | 83 |
Ending Balances | 508 | 436 |
Evaluated for Impairment [Abstract] | ||
Individually | 238 | 0 |
Collectively | 270 | 436 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 83,397 | 74,416 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 3,310 | 4,060 |
Collectively | 80,087 | 70,356 |
Real Estate Loans [Member] | Multi-Family [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 256 | 73 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Current Provision | 82 | 183 |
Ending Balances | 338 | 256 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 338 | 256 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 46,171 | 38,079 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 46,171 | 38,079 |
Real Estate Loans [Member] | Land [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 161 | 203 |
Charge-Offs | (289) | (109) |
Recoveries | 0 | 20 |
Current Provision | 228 | 47 |
Ending Balances | 100 | 161 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 100 | 161 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 16,106 | 20,474 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 2,980 | 0 |
Collectively | 13,126 | 20,474 |
Real Estate Loans [Member] | Construction [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 163 | 147 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Current Provision | (48) | 16 |
Ending Balances | 115 | 163 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 115 | 163 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 9,502 | 11,921 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 9,502 | 11,921 |
Real Estate Loans [Member] | Other [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 311 | 142 |
Charge-Offs | (20) | (217) |
Recoveries | 13 | 1 |
Current Provision | (160) | 385 |
Ending Balances | 144 | 311 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 144 | 311 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 16,881 | 18,928 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 30 | 87 |
Collectively | 16,851 | 18,841 |
Commercial Loans [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 929 | 979 |
Charge-Offs | 0 | (250) |
Recoveries | 0 | 0 |
Current Provision | 298 | 200 |
Ending Balances | 1,227 | 929 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 1,227 | 929 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 35,990 | 35,458 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 623 | 873 |
Collectively | 35,367 | 34,585 |
Consumer Loans [Member] | ||
Allowance for loan losses [Roll Forward] | ||
Beginning Balances | 3 | 10 |
Charge-Offs | 0 | (7) |
Recoveries | 0 | 0 |
Current Provision | 0 | 0 |
Ending Balances | 3 | 3 |
Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | 3 | 3 |
Loans Receivable [Abstract] | ||
Ending Balances - Total | 768 | 647 |
Ending Balances, Evaluated for Impairment [Abstract] | ||
Individually | 0 | 0 |
Collectively | $ 768 | $ 647 |
Loans Receivable, Loans Individ
Loans Receivable, Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | $ 7,412 | $ 6,668 |
Recorded Investment With No Allowance | 4,102 | 6,668 |
Recorded Investment With Allowance | 3,310 | 0 |
Total Recorded Investment | 7,412 | 6,668 |
Related Allowance | 238 | 0 |
Average Recorded Investment | 7,962 | 6,837 |
Real Estate Loans [Member] | One-to-Four-Family Residential [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 469 | 1,648 |
Recorded Investment With No Allowance | 469 | 1,648 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 469 | 1,648 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 474 | 1,687 |
Real Estate Loans [Member] | Commercial [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 3,310 | 4,060 |
Recorded Investment With No Allowance | 0 | 4,060 |
Recorded Investment With Allowance | 3,310 | 0 |
Total Recorded Investment | 3,310 | 4,060 |
Related Allowance | 238 | 0 |
Average Recorded Investment | 3,877 | 4,186 |
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 | 2,980 | 0 |
Recorded Investment With No Allowance | 2,980 | 0 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 2,980 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,951 | 0 |
Real Estate Loans [Member] | Construction [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 0 | 0 |
Recorded Investment With No Allowance | 0 | 0 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 30 | 0 |
Recorded Investment With No Allowance | 30 | 0 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 30 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 30 | 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 | 87 |
Recorded Investment With No Allowance | 0 | 87 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 0 | 87 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 87 |
Commercial Loans [Member] | ||
Loans individually evaluated for impairment, segregated by class of loans [Abstract] | ||
Unpaid Principal Balance | 623 | 873 |
Recorded Investment With No Allowance | 623 | 873 |
Recorded Investment With Allowance | 0 | 0 |
Total Recorded Investment | 623 | 873 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 630 | 877 |
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, 2019USD ($)Contract | Jun. 30, 2018USD ($) | |
Troubled Debt Restructurings [Abstract] | ||
Commitments to loan additional funds to borrowers whose loans were previously in non-accrual status | $ 0 | $ 0 |
Commercial Business Loans [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | $ 579 | 5,359 |
Commercial Business Loans [Member] | Interest Rate and Payment Term Modification [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Number of contracts | Contract | 4 | |
Pre-modification recorded investment | $ 4,700 | |
Commercial Business Loans [Member] | Nonaccrual [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 122 | 416 |
Commercial Business Loans [Member] | Current [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 457 | 4,943 |
Commercial Business Loans [Member] | Past Due Greater than 30 Days [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 122 | 416 |
Real Estate Loans [Member] | 1-4 Family Residential [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 76 | 1,943 |
Real Estate Loans [Member] | 1-4 Family Residential [Member] | Nonaccrual [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 0 | 0 |
Real Estate Loans [Member] | 1-4 Family Residential [Member] | Current [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 76 | 1,943 |
Real Estate Loans [Member] | 1-4 Family Residential [Member] | Past Due Greater than 30 Days [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 0 | $ 0 |
Real Estate Loans [Member] | Commercial Real Estate [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 3,310 | |
Real Estate Loans [Member] | Commercial Real Estate [Member] | Nonaccrual [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 0 | |
Real Estate Loans [Member] | Commercial Real Estate [Member] | Current [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | 3,310 | |
Real Estate Loans [Member] | Commercial Real Estate [Member] | Past Due Greater than 30 Days [Member] | ||
Troubled Debt Restructurings [Abstract] | ||
Total TDRs | $ 0 |
Loans Receivable, Impaired Loan
Loans Receivable, Impaired Loans Segregated by Class of Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Interest foregone on non accrual loans | $ 274 | $ 126 |
Loan receivables on nonaccrual status | 7,238 | 8,448 |
Real Estate Loans [Member] | One-to-Four-Family Residential [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | 295 | 2,586 |
Real Estate Loans [Member] | Commercial [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | 3,310 | 5,359 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Real Estate Loans [Member] | Land [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | 2,980 | 0 |
Real Estate Loans [Member] | Construction [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Real Estate Loans [Member] | Equity and Second Mortgage [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | 0 | 0 |
Real Estate Loans [Member] | Equity Lines of Credit [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | 30 | 87 |
Commercial Loans [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | 623 | 416 |
Consumer Loans [Member] | ||
Impaired Loans, Segregated by Class of Loans [Abstract] | ||
Loan receivables on nonaccrual status | $ 0 | $ 0 |
Accrued Interest Receivable (De
Accrued Interest Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Accrued Interest Receivable [Abstract] | ||
Total | $ 1,172 | $ 1,146 |
Mortgage Loans [Member] | ||
Accrued Interest Receivable [Abstract] | ||
Total | 391 | 554 |
Other Loans [Member] | ||
Accrued Interest Receivable [Abstract] | ||
Total | 654 | 487 |
Investments [Member] | ||
Accrued Interest Receivable [Abstract] | ||
Total | 2 | 3 |
Mortgage-Backed Securities [Member] | ||
Accrued Interest Receivable [Abstract] | ||
Total | $ 125 | $ 102 |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | $ 17,355 | $ 15,509 |
Accumulated Depreciation | (3,801) | (3,266) |
Total | 13,554 | 12,243 |
Depreciation expense | 536 | 503 |
Land [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 4,594 | 3,746 |
Buildings [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 10,590 | 8,614 |
Equipment [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 2,031 | 1,468 |
Construction in Progress [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | $ 140 | $ 1,681 |
Deposits, Summary of Deposits (
Deposits, Summary of Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Rate [Abstract] | ||
Non-Interest Bearing | 0.00% | 0.00% |
NOW Accounts | 0.55% | 0.67% |
Money Market | 1.21% | 0.84% |
Passbook Savings | 0.77% | 0.53% |
Certificates of Deposit | 2.07% | 1.56% |
Amount [Abstract] | ||
Non-Interest Bearing | $ 59,351 | $ 58,001 |
NOW Accounts | 31,045 | 34,576 |
Money Markets | 74,934 | 70,175 |
Passbook Savings | 39,569 | 36,241 |
Total transaction accounts | 204,899 | 198,993 |
Certificates of Deposit | 183,265 | 161,267 |
Total Deposits | $ 388,164 | $ 360,260 |
Percent [Abstract] | ||
Non-Interest Bearing | 15.29% | 16.10% |
NOW Accounts | 8.00% | 9.60% |
Money Market | 19.31% | 19.48% |
Passbook Savings | 10.19% | 10.06% |
Total transaction accounts | 52.79% | 55.24% |
Certificates of Deposit | 47.21% | 44.76% |
Total Deposits | 100.00% | 100.00% |
Deposits, Composition of Certif
Deposits, Composition of Certificates of Deposit Accounts by Interest Rate (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 183,265 | $ 161,267 |
Total Deposits, Percent | 100.00% | 100.00% |
0.00% to 0.99% [Member] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 12,627 | $ 15,310 |
Total Deposits, Percent | 6.89% | 9.49% |
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] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 65,745 | $ 121,572 |
Total Deposits, Percent | 35.87% | 75.39% |
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] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 102,767 | $ 24,234 |
Total Deposits, Percent | 56.08% | 15.03% |
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] | ||
Composition of certificates of deposit accounts by interest rate [Abstract] | ||
Total Deposits, Amount | $ 2,126 | $ 151 |
Total Deposits, Percent | 1.16% | 0.09% |
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% |
Deposits, Maturities of Certifi
Deposits, Maturities of Certificates of Deposit Accounts (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Amount [Abstract] | ||
2020 | $ 97,610 | |
2021 | 41,627 | |
2022 | 25,850 | |
2023 | 7,336 | |
2024 | 10,375 | |
2025 | 467 | |
Total | $ 183,265 | $ 161,267 |
Percent [Abstract] | ||
2020 | 53.26% | |
2021 | 22.72% | |
2022 | 14.11% | |
2023 | 4.00% | |
2024 | 5.66% | |
2025 | 0.25% | |
Total | 100.00% | 100.00% |
Weighted Average Rate [Abstract] | ||
2020 | 1.95% | |
2021 | 2.00% | |
2022 | 2.27% | |
2023 | 2.13% | |
2024 | 2.80% | |
2025 | 2.98% | |
Total | 2.07% |
Deposits, Interest Expense on D
Deposits, Interest Expense on Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Interest expense on deposits [Abstract] | ||
NOW and Money Market | $ 927 | $ 458 |
Passbook Savings | 195 | 194 |
Certificates of Deposits | 3,258 | 2,394 |
Total | 4,380 | 3,046 |
Aggregate amount of time deposits in denominations of $100,000 or more | 131,900 | 114,200 |
Brokered certificates of deposits | $ 11,200 | $ 8,700 |
Period of brokered certificate of deposits | 12 months |
Advances from Federal Home Lo_3
Advances from Federal Home Loan Bank of Dallas (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Advances from Federal Home Loan Bank of Dallas [Abstract] | ||
Total interest expense recognized | $ 143 | $ 445 |
Advances [Abstract] | ||
Advances from Federal Home Loan Bank of Dallas, Total | 1,355 | 11,637 |
Maturities of advances [Abstract] | ||
2020 | 295 | |
2021 | 192 | |
2022 | 34 | |
2023 | 36 | |
2024 | 798 | |
Thereafter | 0 | |
Total | 1,355 | |
0.00% to 0.99% [Member] | ||
Advances [Abstract] | ||
Advances from Federal Home Loan Bank of Dallas, Total | $ 0 | 0 |
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 | $ 0 | 0 |
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 | 10,000 |
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 | $ 1,355 | $ 1,637 |
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, 2019 | Jun. 30, 2018 | |
Other Borrowings [Abstract] | ||
Amount available under line of credit agreement | $ 1,000 | |
Line of credit facility, maturing date | Sep. 29, 2018 | |
Initial interest rate of secured line of credit during period | 5.00% | |
Line of credit outstanding | $ 450 | $ 300 |
Line of credit, interest expense | $ 9 | $ 4 |
Commitments (Details)
Commitments (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019USD ($)Branch | Jun. 30, 2018USD ($) | |
Lease Commitments [Abstract] | ||
Number of branch facilities leased | Branch | 2 | |
Future minimum rental payments resulting from non-cancelable term of leases [Abstract] | ||
2020 | $ 52 | |
2021 | 48 | |
Total | 100 | |
Total rent expense paid under the terms of leases | 88 | $ 86 |
Contractual Commitment [Abstract] | ||
Minimum monthly on-line data processing service charge | $ 28,821 | |
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] | ||
2020 | $ 346 | |
2021 | 346 | |
2022 | 346 | |
2023 | 346 | |
2024 | 317 | |
Total | 1,701 | |
Future minimum commitments for employment contracts [Abstract] | ||
2020 | 194 | |
2021 | 194 | |
2022 | 194 | |
Total | 582 | |
Federal Home Loan Bank [Member] | ||
Letter of Credit [Abstract] | ||
Letter of credit outstanding | 27,700 | |
Letter of credit aggregate amount expiring within one year | 27,700 | |
Outstanding borrowings associated with letters of credit | $ 0 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Summarized income tax expense [Abstract] | ||
Current | $ 1,313 | $ 1,753 |
Deferred | (30) | 499 |
Total | $ 1,283 | $ 2,252 |
Effective federal income tax rate | 21.30% | 38.70% |
Reconciliations of income tax expense at the statutory rate [Abstract] | ||
Computed at Expected Statutory Rate | $ 1,265 | $ 2,322 |
Non-Taxable Income | 0 | (46) |
Other | 18 | (24) |
Total | 1,283 | 2,252 |
Deferred Tax Assets [Abstract] | ||
Market Value Adjustment to Available-for-Sale Securities | (5) | |
Market Value Adjustment to Available-for-Sale Securities | 278 | |
Stock Option and SERP Compensation | 223 | 199 |
Loans Receivable - Bad Debt Loss Allowance | 659 | 653 |
Capital Losses | 92 | 45 |
Gross Deferred Tax Assets | 969 | 1,175 |
Valuation Allowance | (120) | (73) |
Net Deferred Tax Assets | 849 | 1,102 |
Retained earnings appropriated to deferred federal income tax liability | 3,300 | 3,300 |
Unrecorded deferred income tax liability | $ 693 | $ 693 |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) | Dec. 31, 2017 | Jun. 30, 2019USD ($)Age | Jun. 30, 2018USD ($) |
Defined Contribution Plan [Abstract] | |||
Defined contribution plan, type [Extensible List] | us-gaap:PensionPlansDefinedBenefitMember | ||
Defined contribution plan, plan name | Home Federal Bank Employees’ Savings and Profit Sharing Plan and Trust | ||
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 | $ 19,000 | ||
Contribution of participant plan salary, percentage | 3.00% | ||
Bank matching contribution of first 6% of plan salary elective deferrals, percentage | 100.00% | ||
Pension costs including administrative fees | $ 199,000 | $ 175,000 | |
Other Pension Plan [Member] | Survivor Benefit Plan [Member] | |||
Defined Benefit Plan [Abstract] | |||
Defined benefit plan, funding status [Extensible List] | us-gaap:UnfundedPlanMember | ||
Amount of obligations requiring accrual for plan | $ 0 | 0 | |
Supplemental Employee Retirement Plan [Member] | SERP [Member] | |||
Defined Benefit Plan [Abstract] | |||
Compensation expense | 38,506 | $ 93,789 | |
Supplemental Employee Retirement Plan [Member] | SERP [Member] | Former Chief Executive Officer [Member] | |||
Defined Benefit Plan [Abstract] | |||
Retirement benefits payable in equal annual installments | $ 75,000 | ||
Number of consecutive years for which retirement benefits will be payable | 8 years | ||
Vesting percentage of retirement benefits upon retirement | 100.00% | ||
Period considered for lump sum payment following date of death | 30 days | ||
Supplemental Employee Retirement Plan [Member] | SERP [Member] | President and Chief Executive Officer [Member] | |||
Defined Benefit Plan [Abstract] | |||
Retirement benefits payable in equal annual installments | $ 120,000 | ||
Number of consecutive years for which retirement benefits will be payable | 10 years | ||
Period considered for credit of additional years of service following change in control | 2 years | ||
Additional period of service credited upon separation from service in the event of a change in control | 5 years | ||
Annual vesting percentage | 6.25% | ||
Vesting period | 16 years | ||
Period considered for lump sum payment following date of death | 30 days |
Employee Stock Ownership Plan_2
Employee Stock Ownership Plan (Details) | 12 Months Ended | ||
Jun. 30, 2019USD ($)Ageqtr$ / sharesshares | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2005USD ($)qtr | |
Employee Stock Ownership Plan (ESOP) [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 | ||
ESOP shares sold, percentage | 6.00% | ||
ESOP Compensation Expense | $ | $ 368,000 | $ 329,000 | |
ESOP shares [Abstract] | |||
Allocated and Committed to be Released Shares, Beginning of Year (in shares) | 110,228 | 99,205 | |
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) | 95,642 | 106,665 | |
Total ESOP Shares (in shares) | 216,893 | 216,893 | |
Fair Value of Unreleased Shares | $ | $ 3,180,000 | $ 3,355,000 | |
Stock Price (in dollars per share) | $ / shares | $ 33.25 | $ 31.45 | |
Loans Receivable [Member] | |||
Employee Stock Ownership Plan (ESOP) [Abstract] | |||
Loan facilitated to ESOP | $ | $ 1,200,000 | $ 1,100,000 | |
Number of quarterly debt service payments | qtr | 80 | 80 | |
Amount of quarterly debt service payments for corresponding note | $ | $ 20,000 | $ 23,000 | |
Interest rate for corresponding note | 3.20% | 5.25% |
Stock-Based Compensation, Recog
Stock-Based Compensation, Recognition and Retention Plan (Details) - $ / shares | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jul. 31, 2014 | |
Recognition and Retention Plans [Abstract] | |||
Share price (in dollars per share) | $ 33.25 | $ 31.45 | |
2011 Recognition and Retention Plan [Member] | |||
Recognition and Retention Plans [Abstract] | |||
Aggregate number of shares of common stock (in shares) | 77,808 | ||
Shares earned by recipients expressed in percentage of aggregate number of shares | 20.00% | ||
Period of plan | 5 years | ||
Share price (in dollars per share) | $ 18.92 | ||
Period of cost recognized | 5 years |
Stock-Based Compensation, Stock
Stock-Based Compensation, Stock Option Plans (Details) - USD ($) $ / shares in Units, $ in Thousands | Jul. 31, 2014 | Jan. 31, 2012 | Aug. 19, 2010 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 23, 2011 | Aug. 10, 2005 |
Stock Option Plans [Abstract] | ||||||||
Outstanding stock options (in shares) | 284,632 | 292,050 | 300,150 | |||||
Number of Shares [Abstract] | ||||||||
Granted (in shares) | 13,500 | 0 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Exercised (in dollars per share) | $ 15.35 | $ 14.70 | ||||||
Stock Options [Member] | ||||||||
Stock Option Plans [Abstract] | ||||||||
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 | $ 135 | $ 136 | ||||||
2005 Stock Option Plan [Member] | ||||||||
Stock Option Plans [Abstract] | ||||||||
Aggregate number of shares of common stock reserved for issuance (in shares) | 158,868 | |||||||
Termination date | Jun. 8, 2015 | |||||||
Outstanding stock options (in shares) | 12,705 | |||||||
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] | ||||||||
Stock Option Plans [Abstract] | ||||||||
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 |
Stock-Based Compensation, Sto_2
Stock-Based Compensation, Stock Incentive Plan (Details) - shares | Feb. 05, 2019 | Oct. 26, 2015 | Nov. 12, 2014 | Jun. 30, 2019 | Jun. 30, 2018 |
Stock Incentive Plan [Abstract] | |||||
Granted (in shares) | 13,500 | 0 | |||
Stock Options [Member] | |||||
Stock Incentive Plan [Abstract] | |||||
Award vesting period | 5 years | ||||
2014 Stock Incentive Plan [Member] | |||||
Stock Incentive Plan [Abstract] | |||||
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 | ||||
Award vesting period | 5 years | ||||
2014 Stock Incentive Plan [Member] | Maximum [Member] | |||||
Stock Incentive Plan [Abstract] | |||||
Aggregate number of shares of common stock (in shares) | 37,500 | ||||
2014 Stock Incentive Plan [Member] | Share Awards [Member] | |||||
Stock Incentive Plan [Abstract] | |||||
Granted (in shares) | 3,000 | 34,500 | |||
2014 Stock Incentive Plan [Member] | Stock Options [Member] | |||||
Stock Incentive Plan [Abstract] | |||||
Granted (in shares) | 13,500 | 103,500 | |||
Award vesting period | 5 years |
Stock-Based Compensation, Share
Stock-Based Compensation, Share Awards (Details) - 2011 Recognition Plan and Stock Incentive Plan [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Summary of status of the share awards outstanding [Abstract] | ||
Compensation expense | $ 167 | $ 162 |
Awarded Shares [Member] | ||
Summary of status of the share awards outstanding [Abstract] | ||
Balance - Beginning of Year (in shares) | 23,527 | 31,937 |
Granted (in shares) | 0 | 0 |
Forfeited (in shares) | 0 | 0 |
Earned and Issued (in shares) | (8,410) | (8,410) |
Balance - End of Year (in shares) | 15,117 | 23,527 |
Stock-Based Compensation, Sto_3
Stock-Based Compensation, Stock Options (Details) - USD ($) | Feb. 05, 2019 | Oct. 26, 2015 | Jul. 31, 2014 | Jan. 31, 2012 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Number of Shares [Abstract] | ||||||||
Outstanding, Beginning Balance (in shares) | 292,050 | 300,150 | ||||||
Granted (in shares) | 13,500 | 0 | ||||||
Exercised (in shares) | (20,918) | (3,600) | ||||||
Forfeited (in shares) | 0 | (4,500) | ||||||
Outstanding, Ending Balance (in shares) | 284,632 | 292,050 | 300,150 | |||||
Options Exercisable, Ending Balance (in shares) | 225,265 | 220,122 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Outstanding, Beginning Balance (in dollars per share) | $ 17.79 | $ 17.83 | ||||||
Granted (in dollars per share) | 31.25 | 0 | ||||||
Exercised (in dollars per share) | 15.35 | 14.70 | ||||||
Forfeited (in dollars per share) | 0 | 14.70 | ||||||
Outstanding, Ending Balance (in dollars per share) | 18.65 | 17.79 | $ 17.83 | |||||
Options Exercisable, Ending Balance (in dollars per share) | $ 17.12 | $ 16.32 | ||||||
Weighted Average Remaining Contract Term [Abstract] | ||||||||
Outstanding, Ending Balance | 4 years 4 months 24 days | 5 years 18 days | 6 years 25 days | |||||
Options Exercisable, Ending Balance | 3 years 8 months 23 days | 4 years 4 months 17 days | ||||||
Aggregate Intrinsic Value [Abstract] | ||||||||
Outstanding, Ending Balance | $ 4,138,129 | $ 3,986,887 | ||||||
Options Exercisable, Ending Balance | $ 3,642,423 | $ 3,327,981 | ||||||
Stock Options [Member] | ||||||||
Number of Shares [Abstract] | ||||||||
Nonvested, Beginning Balance (in shares) | 71,928 | |||||||
Granted (in shares) | 13,500 | |||||||
Vested (in shares) | (26,061) | |||||||
Forfeited (in shares) | 0 | |||||||
Nonvested, Ending Balance (in shares) | 59,367 | 71,928 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Nonvested, Beginning Balance (in dollars per share) | $ 22.29 | |||||||
Granted (in dollars per share) | 31.25 | |||||||
Vested (in dollars per share) | 22.02 | |||||||
Forfeited (in dollars per share) | 0 | |||||||
Nonvested, Ending Balance (in dollars per share) | $ 24.45 | $ 22.29 | ||||||
Compensation expense | $ 135,000 | $ 136,000 | ||||||
2014 Stock Incentive Plan [Member] | ||||||||
Fair value of option granted [Abstract] | ||||||||
Dividend Yield | 1.79% | 1.39% | ||||||
Expected Term | 10 years | 10 years | ||||||
Risk-Free Interest Rate | 2.71% | 2.07% | ||||||
Expected Life | 10 years | 10 years | ||||||
Expected Volatility | [1] | 16.17% | 20.38% | |||||
2014 Stock Incentive Plan [Member] | Stock Options [Member] | ||||||||
Number of Shares [Abstract] | ||||||||
Granted (in shares) | 13,500 | 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 | [1] | 9.56% | ||||||
[1] | Weekly volatility is annualized by multiplying by the square root of 52. |
Off-Balance Sheet Activities (D
Off-Balance Sheet Activities (Details) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019USD ($)mi | Jun. 30, 2018USD ($) | |
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ||
Financial instruments outstanding, contract amount | $ 49,563 | $ 54,737 |
Cash Deposits [Abstract] | ||
Cash deposits over insured limit | $ 15,100 | |
Regional Credit Concentration [Abstract] | ||
Number of miles within which banks lending activities are located | mi | 100 | |
Other Credit Concentrations [Abstract] | ||
Balance of loans outstanding | $ 4,800 | $ 5,800 |
Interest Rate Floors and Caps [Abstract] | ||
Amount of loan portfolio | 32,600 | |
Amount of purchased loans | $ 4,800 | |
Minimum [Member] | ||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ||
Percentage of Fixed Rate Loans | 3.75% | 4.00% |
Percentage of Variable Rate Loans | 0.00% | 0.00% |
Maximum [Member] | ||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ||
Percentage of Fixed Rate Loans | 5.50% | 5.75% |
Percentage of Variable Rate Loans | 0.00% | 0.00% |
Commitments to Grant Loans [Member] | ||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ||
Financial instruments outstanding, contract amount | $ 40,582 | $ 43,595 |
Unfunded Commitments Under Lines of Credit [Member] | ||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ||
Financial instruments outstanding, contract amount | 8,981 | 11,142 |
Fixed Rate Loans [Member] | ||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ||
Financial instruments outstanding, contract amount | 49,563 | 54,737 |
Variable Rate Loans [Member] | ||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ||
Financial instruments outstanding, contract amount | $ 0 | $ 0 |
Related Party Events (Details)
Related Party Events (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Summarized analysis of activity in loans made to borrowers [Roll Forward] | ||
Balance - Beginning of Year | $ 2,602 | $ 2,842 |
Additions | 1,071 | 236 |
Principal Payments | (846) | (476) |
Balance - End of Year | 2,827 | 2,602 |
Deposits from related parties held by the Bank | $ 3,900 | $ 3,500 |
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, 2019 | Jun. 30, 2018 | |
Actual Amount [Abstract] | |||
Core Capital | [1] | $ 50,171 | $ 47,981 |
Common Equity Tier 1 | [2] | 50,171 | 47,981 |
Tangible Capital | [1] | 50,171 | 47,981 |
Total Risk-Based Capital | [2] | $ 53,623 | $ 51,406 |
Actual Ratio [Abstract] | |||
Core Capital | [1] | 11.37% | 11.36% |
Common Equity Tier 1 | [2] | 16.51% | 16.65% |
Tangible Capital | [1] | 11.37% | 11.36% |
Total Risk-Based Capital | [2] | 17.64% | 17.84% |
Required for Capital Adequacy Purposes, Amount [Abstract] | |||
Core Capital | [1] | $ 13,235 | $ 12,675 |
Common Equity Tier 1 | [2] | 13,678 | 12,969 |
Tangible Capital | [1] | 6,618 | 6,337 |
Total Risk-Based Capital | [2] | $ 24,316 | $ 23,057 |
Required for Capital Adequacy Purposes, Ratio [Abstract] | |||
Core Capital | [1] | 3.00% | 3.00% |
Common Equity Tier 1 | [2] | 4.50% | 4.50% |
Tangible Capital | [1] | 1.50% | 1.50% |
Total Risk-Based Capital | [2] | 8.00% | 8.00% |
[1] | Amounts and Ratios to Adjusted Total Assets | ||
[2] | Amounts and Ratios to Total Risk-Weighted Assets |
Regulatory Matters, Actual an_2
Regulatory Matters, Actual and Required Capital Amounts and Ratios to be Well Capitalized under Prompt Corrective Action Provisions (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 | |
Actual Amount [Abstract] | |||
Tier 1 Leverage Capital | [1] | $ 50,171 | $ 47,981 |
Common Equity Tier 1 | [2] | 50,171 | 47,981 |
Tier 1 Risk-Based Capital | [2] | 50,171 | 47,981 |
Total Risk-Based Capital | [2] | $ 53,623 | $ 51,406 |
Actual Ratio [Abstract] | |||
Tier 1 Leverage Capital | [1] | 11.37% | 11.36% |
Common Equity Tier 1 | [2] | 16.51% | 16.65% |
Tier 1 Risk-Based Capital | [2] | 16.51% | 16.65% |
Total Risk-Based Capital | [2] | 17.64% | 17.84% |
Required to be Well Capitalized, Amount [Abstract] | |||
Tier 1 Leverage Capital | [1] | $ 22,059 | $ 21,125 |
Common Equity Tier 1 | [2] | 19,756 | 18,734 |
Tier 1 Risk-Based Capital | [2] | 24,316 | 23,057 |
Total Risk-Based Capital | [2] | $ 30,395 | $ 28,821 |
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 an_3
Regulatory Matters, Actual and Required Capital Amounts and Ratios Applicable to the Bank (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 | |
Actual Ratio [Abstract] | |||
Total Equity, and Ratio to Average Total Assets | 11.39% | 11.10% | |
Tangible Capital, and Ratio to Adjusted Total Assets | [1] | 11.37% | 11.36% |
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets | [1] | 11.37% | 11.36% |
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets | [2] | 16.51% | 16.65% |
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets | [2] | 17.64% | 17.84% |
Actual Amount [Abstract] | |||
Total Equity, and Ratio to Total Assets | $ 50,559 | $ 46,775 | |
Investments in and Advances to Nonincludable Subsidiaries | (118) | (119) | |
Unrealized Gains on Securities Available-for-Sale | (20) | 1,325 | |
Non-significant investments Capital Stock | (250) | ||
Tangible Capital, and Ratio to Adjusted Total Assets | [1] | 50,171 | 47,981 |
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets | [1] | 50,171 | 47,981 |
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets | [2] | 50,171 | 47,981 |
Allowance for Loan Losses | 3,452 | 3,425 | |
Excess Allowance for Loan Losses | 0 | 0 | |
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets | [2] | 53,623 | 51,406 |
Average Total Assets | 441,564 | 421,548 | |
Adjusted Total Assets | 441,176 | 422,504 | |
Risk-Weighted Assets | $ 303,946 | $ 288,208 | |
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 | [1] | 3.00% | 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 | [2] | 8.00% | 8.00% |
Minimum for Capital Adequacy Purposes, Amount [Abstract] | |||
Tangible Capital, and Ratio to Adjusted Total Assets | [1] | $ 6,618 | $ 6,337 |
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets | [1] | 13,235 | 12,675 |
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets | 13,678 | 12,969 | |
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets | [2] | $ 24,316 | $ 23,057 |
[1] | Amounts and Ratios to Adjusted Total Assets | ||
[2] | Amounts and Ratios to Total Risk-Weighted Assets |
Restrictions on Dividends (Deta
Restrictions on Dividends (Details) - USD ($) $ in Millions | 12 Months Ended | 30 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | |
Restrictions on Dividends [Abstract] | |||
Retained net income less dividend declared and paid | $ 5.3 | ||
The Bank [Member] | |||
Restrictions on Dividends [Abstract] | |||
Dividends received from subsidiary bank | $ 2.5 | $ 2 |
Fair Value Disclosures (Details
Fair Value Disclosures (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
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 | $ 41,655 | $ 29,324 |
Carrying Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and Cash Equivalents | 18,108 | 15,867 |
Securities Available-for-Sale | 41,655 | 29,324 |
Securities to be Held-to-Maturity | 25,349 | 28,888 |
Loans Held-for-Sale | 8,608 | 6,762 |
Loans Receivable | 324,134 | 317,493 |
Financial Liabilities [Abstract] | ||
Deposits | 388,164 | 360,260 |
Advances from FHLB | 1,355 | 11,637 |
Off-Balance Sheet Items [Abstract] | ||
Mortgage Loan Commitments | 8,981 | 5,827 |
Estimated Fair Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and Cash Equivalents | 18,108 | 15,867 |
Securities Available-for-Sale | 41,655 | 29,324 |
Securities to be Held-to-Maturity | 25,532 | 27,818 |
Loans Held-for-Sale | 8,608 | 6,762 |
Loans Receivable | 310,812 | 314,724 |
Financial Liabilities [Abstract] | ||
Deposits | 368,212 | 345,347 |
Advances from FHLB | 1,246 | 11,517 |
Off-Balance Sheet Items [Abstract] | ||
Mortgage Loan Commitments | $ 8,981 | $ 5,827 |
Fair Value Disclosures, Recurri
Fair Value Disclosures, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | $ 41,655 | $ 29,324 |
FHLMC [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 8,080 | 7,085 |
FNMA [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 25,277 | 11,912 |
GNMA [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 8,298 | 10,327 |
Recurring [Member] | ||
Fair values of assets and liabilities measured on a recurring basis [Abstract] | ||
Available-for-sale debt securities | 41,655 | 29,324 |
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 | 41,655 | 29,324 |
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 | 8,080 | 7,085 |
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 | 8,080 | 7,085 |
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 | 25,277 | 11,912 |
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 | 25,277 | 11,912 |
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 | 8,298 | 10,327 |
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 | 8,298 | 10,327 |
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 | 7,000 | 8,448 |
Other Real Estate Owned | 1,366 | 1,177 |
Total | 8,366 | 9,625 |
Non-recurring [Member] | Level 1 [Member] | ||
Assets [Abstract] | ||
Impaired Loans, Net of Allowance | 0 | 0 |
Other Real Estate Owned | 0 | 0 |
Total | 0 | 0 |
Non-recurring [Member] | Level 2 [Member] | ||
Assets [Abstract] | ||
Impaired Loans, Net of Allowance | 0 | 0 |
Other Real Estate Owned | 0 | 0 |
Total | 0 | 0 |
Non-recurring [Member] | Level 3 [Member] | ||
Assets [Abstract] | ||
Impaired Loans, Net of Allowance | 7,000 | 8,448 |
Other Real Estate Owned | 1,366 | 1,177 |
Total | $ 8,366 | $ 9,625 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - $ / shares | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Components of average outstanding common shares [Abstract] | ||
Average Common Shares Issued (in shares) | 1,873,789 | 1,918,831 |
Average Unearned ESOP Shares (in shares) | (104,195) | (115,724) |
Average Unearned RRP Trust Shares (in shares) | (1,858) | (3,572) |
Weighted Average Number of Common Shares Used in Basic EPS (in shares) | 1,767,736 | 1,799,535 |
Effect of Dilutive Securities Stock Options (in shares) | 126,275 | 111,592 |
Weighted Average Number of Common Shares and Dilutive Potential Common Shares Used in Dilutive EPS (in shares) | 1,894,011 | 1,911,127 |
Outstanding options to purchase shares (in shares) | 284,465 | 292,050 |
Weighted average price per share of outstanding options (in dollars per share) | $ 18.07 | $ 17.87 |
Parent Company Financial Stat_3
Parent Company Financial Statements, Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Assets [Abstract] | ||
Cash and Cash Equivalents | $ 18,108 | $ 15,867 |
Other Assets | 710 | 840 |
Total Assets | 442,453 | 421,650 |
Liabilities and Stockholders' Equity [Abstract] | ||
Borrowings | 450 | 300 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 442,453 | 421,650 |
Parent Company [Member] | ||
Assets [Abstract] | ||
Cash and Cash Equivalents | 64 | 128 |
Investment in Subsidiary | 50,559 | 47,024 |
Other Assets | 209 | 213 |
Total Assets | 50,832 | 47,365 |
Liabilities and Stockholders' Equity [Abstract] | ||
Borrowings | 450 | 300 |
Other Liabilities | 40 | 28 |
Stockholders' Equity | 50,342 | 47,037 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 50,832 | $ 47,365 |
Parent Company Financial Stat_4
Parent Company Financial Statements, Condensed Statements of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Condensed Statements of Operations [Abstract] | ||
Interest Income | $ 19,846 | $ 18,423 |
Interest Expense | 4,532 | 3,495 |
Income Before Income Taxes | 6,026 | 5,820 |
Income Tax Benefit | 1,283 | 2,252 |
Net Income | 4,743 | 3,568 |
Parent Company [Member] | ||
Condensed Statements of Operations [Abstract] | ||
Equity in Undistributed Earnings of Subsidiary | 4,968 | 3,791 |
Interest Income | 68 | 74 |
Total Income | 5,036 | 3,865 |
Operating Expenses | 344 | 377 |
Interest Expense | 9 | 4 |
Total Expense | 353 | 381 |
Income Before Income Taxes | 4,683 | 3,484 |
Income Tax Benefit | (60) | (84) |
Net Income | $ 4,743 | $ 3,568 |
Parent Company Financial Stat_5
Parent Company Financial Statements, Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Operating Activities [Abstract] | ||
Net Income | $ 4,743 | $ 3,568 |
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities [Abstract] | ||
Decrease (Increase) in Other Assets | 130 | 44 |
(Decrease) Increase in Other Liabilities | (133) | (19) |
Net Cash Provided by Operating Activities | 4,858 | 13,104 |
Financing Activities [Abstract] | ||
Proceeds from Stock Options Exercised | 325 | 53 |
Proceeds of Borrowings | 900 | 800 |
Repayment of Borrowings | (750) | (500) |
Dividends Paid | (1,051) | (924) |
Net Cash Provided by/(Used In) Financing Activities | 14,874 | (8,381) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 2,241 | 3,962 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 15,867 | 11,905 |
CASH AND CASH EQUIVALENTS, END OF YEAR | 18,108 | 15,867 |
Parent Company [Member] | ||
Operating Activities [Abstract] | ||
Net Income | 4,743 | 3,568 |
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities [Abstract] | ||
Equity in Undistributed Earnings of Subsidiary | (4,968) | (3,791) |
Decrease (Increase) in Other Assets | 4 | 62 |
(Decrease) Increase in Other Liabilities | 11 | (11) |
Net Cash Provided by Operating Activities | (210) | (172) |
Financing Activities [Abstract] | ||
Distribution from Subsidiary | 2,500 | 2,000 |
Proceeds from Stock Options Exercised | 325 | 53 |
Proceeds of Borrowings | 900 | 800 |
Repayment of Borrowings | (750) | (500) |
Proceeds Received from Subsidiary on Stock Compensation Programs | 669 | 629 |
Company Stock Purchased | (2,447) | (1,955) |
Dividends Paid | (1,051) | (924) |
Net Cash Provided by/(Used In) Financing Activities | 146 | 103 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (64) | (69) |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 128 | 197 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $ 64 | $ 128 |