Oconee Federal Financial (OFED) 10-Q 13 Feb 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2018	Feb. 06, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Oconee Federal Financial Corp.
Entity Central Index Key	1,501,078
Trading Symbol	ofed
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Entity's Reporting Status Current	Yes
Entity Common Stock, Shares Outstanding		5,760,435
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,019
Entity Small Business	true
Entity Emerging Growth Company	false

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
ASSETS
Cash and due from banks	$ 4,215	$ 3,681
Interest-earning deposits	6,837	6,193
Fed funds sold	132	36
Total cash and cash equivalents	11,184	9,910
Securities available-for-sale	109,500	115,146
Loans	356,844	327,758
Allowance for loan losses	(1,227)	(1,097)
Net loans	355,617	326,661
Loans held for sale, at fair value	154
Premises and equipment, net	7,657	6,817
Real estate owned, net	823	1,074
Accrued interest receivable
Loans	1,064	961
Investments	586	615
Restricted equity securities, at cost	2,398	1,639
Bank owned life insurance	18,782	18,554
Goodwill	2,593	2,593
Core deposit intangible	358	417
Loan servicing rights	1,017	1,093
Deferred tax assets	1,882	1,982
Other assets	433	497
Total assets	514,048	487,959
Deposits
Noninterest - bearing	30,138	31,189
Interest - bearing	363,811	356,399
Total deposits	393,949	387,588
FHLB advances	32,500	14,500
Accrued interest payable and other liabilities	1,608	1,006
Total liabilities	428,057	403,094
SHAREHOLDERS' EQUITY
Common stock, $0.01 par value, 100,000,000 shares authorized; 6,495,066 and 6,488,975 shares outstanding, respectively	65	65
Treasury stock, at par, 733,825 and 714,386 shares, respectively	(7)	(7)
Additional paid-in capital	11,625	12,000
Retained earnings	76,862	76,136
Accumulated other comprehensive loss	(1,852)	(2,528)
Unearned ESOP shares	(702)	(801)
Total shareholders' equity	85,991	84,865
Total liabilities and shareholders' equity	$ 514,048	$ 487,959

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Dec. 31, 2018	Jun. 30, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	6,495,066	6,488,975
Treasury stock, shares	733,825	714,386

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Interest and dividend income:
Loans, including fees	$ 4,050	$ 3,621	$ 7,817	$ 7,176
Securities, taxable	401	398	816	768
Securities, tax-exempt	205	214	414	420
Other interest-earning assets	43	26	73	78
Total interest income	4,699	4,259	9,120	8,442
Interest expense:
Deposits	656	363	1,221	725
Other borrowings	161	51	246	62
Total interest expense	817	414	1,467	787
Net interest income	3,882	3,845	7,653	7,655
Provision for loan losses	76	9	148	56
Net interest income after provision for loan losses	3,806	3,836	7,505	7,599
Noninterest income:
Service charges on deposit accounts	113	112	213	220
Income on bank owned life insurance	115	120	229	239
Mortgage servicing income	55	53	109	121
Gain on sale of mortgage loans	20	14	49	14
ATM & debit card income	80	71	154	139
Gain on sale of securities, net			1	10
Gain on disposition of purchase credit impaired loans	22		22
Other	7	7	43	21
Total noninterest income	412	377	820	764
Noninterest expense:
Salaries and employee benefits	1,727	1,653	3,413	3,209
Occupancy and equipment	462	443	877	840
Data processing	201	252	456	474
ATM & debit card expense	51	45	105	97
Professional and supervisory fees	204	251	400	457
Office expense	59	66	104	108
Advertising	60	83	109	128
FDIC deposit insurance	30	34	63	68
Foreclosed assets, net	12	(22)	24	28
Change in loan servicing asset	33	65	76	117
Other	212	217	420	428
Total noninterest expense	3,051	3,087	6,047	5,954
Income before income taxes	1,167	1,126	2,278	2,409
Income tax expense	220	1,185	447	1,611
Net income/(loss)	947	(59)	1,831	798
Other comprehensive income/(loss)
Unrealized gains/(losses) on securities available-for-sale	1,522	(723)	857	(587)
Tax effect	(321)	314	(180)	264
Reclassification adjustment for gains realized in net income			(1)	(10)
Tax effect		1		5
Total other comprehensive income/(loss)	1,201	(408)	676	(328)
Comprehensive income/(loss)	$ 2,148	$ (467)	$ 2,507	$ 470
Basic net income/(loss) per share: (in dollars per share)	$ 0.17	$ (0.01)	$ 0.32	$ 0.14
Diluted net income/(loss) per share: (in dollars per share)	0.16	(0.01)	0.31	0.14
Dividends declared per share: (in dollars per share)	$ 0.1	$ 0.1	$ 0.2	$ 0.2

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands		Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (loss) [Member]	Unearned ESOP Shares [Member ]	Total
Balance at Jun. 30, 2017		$ 65	$ (7)	$ 11,940	$ 75,169	$ (202)	$ (1,004)	$ 85,961
Net income					798			798
Other comprehensive loss						(328)		(328)
Purchase of shares of treasury stock	[1]			(377)				(377)
Stock-based compensation expense				13				13
Dividends	[2]			44	(1,107)			(1,063)
ESOP Shares earned				199			104	303
Balance at Dec. 31, 2017		65	(7)	11,819	74,860	(530)	(900)	85,307
Balance at Jun. 30, 2018		65	(7)	12,000	76,136	(2,528)	(801)	84,865
Net income					1,831			1,831
Other comprehensive loss						676		676
Purchase of shares of treasury stock	[3]			(615)				(615)
Stock-based compensation expense				72				72
Dividends	[4]			42	(1,105)			(1,063)
ESOP Shares earned				126			99	225
Balance at Dec. 31, 2018		$ 65	$ (7)	$ 11,625	$ 76,862	$ (1,852)	$ (702)	$ 85,991
[1]	The weighted average cost of treasury shares purchased during the three months ended was $27.46 per share. Treasury stock repurchases were accounted for using the par value method.
[2]	Approximately $93 of cash dividends paid on shares in the ESOP was used as an additional principal reduction on the ESOP debt, resulting in the release of approximately 7,800 additional shares. The portion of the dividend paid on allocated shares of approximately $44 and resulting release of approximately 4,100 shares, and was treated as a dividend. The portion of the dividend paid on unallocated shares of approximately $49 and resulting release of approximately 3,700 shares, and was accounted for as additional compensation expense for the six months ended December 31, 2017.
[3]	The weighted average cost of treasury shares purchased during the six months ended was $27.15 per share. Treasury stock repurchases were accounted for using the par value method.
[4]	Approximately $85 of cash dividends paid on shares in the ESOP was used as an additional principal reduction on the ESOP debt, resulting in the release of approximately 7,700 additional shares. The portion of the dividend paid on allocated shares of approximately $49 and resulting release of approximately 4,200 shares, was treated as a dividend. The portion of the dividend paid on unallocated shares of approximately $36 and resulting release of approximately 3,500 shares, and was accounted for as additional compensation expense for the six months ended December 31, 2018.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stock (in shares)	19,439	13,241
Weighted average cost of treasury shares (in dollars per share)	$ 27.15	$ 28.52
Cash dividends paid	$ 85	$ 93
Additional shares under ESOP debt	7,700	7,800
Amount of dividend paid on allocated shares	$ 49	$ 44
Number of share issued for dividend	4,200	4,100
Number of shares remaining for dividend payment	3,500	3,700
Additional compensation expense	$ 36	$ 49

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows From Operating Activities
Net income	$ 1,831	$ 798
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	148	56
Provision for real estate owned	18	26
Depreciation and amortization, net	598	669
Net (accretion)/amortization of purchase accounting adjustments	(98)	102
Deferred income tax expense/(benefit)	(80)	961
Net gain on sale of real estate owned	(12)	(62)
Net gain on sale of fixed assets	(29)
Change in loan servicing asset	76	117
Net gain on sales of securities	(1)	(10)
Mortgage loans originated for sale	(2,823)	(1,831)
Mortgage loans sold	2,718	1,820
Gain on sales of mortgage loans	(49)	(14)
Increase in cash surrender value of bank owned life insurance	(228)	(239)
Gain on disposition of purchased credit impaired loans	(22)
ESOP compensation expense	225	303
Stock based compensation expense	72	13
Net change in operating assets and liabilities:
Accrued interest receivable and other assets	(10)	197
Accrued interest payable and other liabilities	602	611
Net cash provided by operating activities	2,936	3,517
Cash Flows From Investing Activities
Purchases of premises and equipment	(1,080)	(383)
Disposal of premises and equipment	29
Purchases of securities available-for-sale	(1,173)	(16,359)
Proceeds from maturities, paydowns and calls of securities available-for-sale	6,184	7,543
Proceeds from sales of securities available-for-sale	1,193	3,997
Purchases of restricted equity securities	(910)	(849)
Redemptions of restricted equity securities	151
Proceeds from sale of real estate owned	293	281
Loan originations and repayments, net	(29,032)	(9,877)
Net cash used in investing activities	(24,345)	(15,647)
Cash Flows from Financing Activities
Net change in deposits	6,361	(23,207)
Net increase in short term borrowings		2,814
Proceeds from notes payable to FHLB	54,100	28,000
Repayment of notes payable to FHLB	(36,100)	(8,000)
Dividends paid	(1,063)	(1,063)
Purchase of treasury stock	(615)	(377)
Net cash (used in)/provided by financing activities	22,683	(1,833)
Change in cash and cash equivalents	1,274	(13,963)
Cash and cash equivalents, beginning of period	9,910	20,745
Cash and cash equivalents, end of period	$ 11,184	$ 6,782

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	(1) BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Oconee Federal Financial Corp., which include the accounts of its wholly owned subsidiary Oconee Federal Savings and Loan Association (the “Association”) (referred to herein as “the Company,” “we,” “us,” or “our”), have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Intercompany accounts and transactions are eliminated during consolidation. The Company is majority owned (72.28%) by Oconee Federal, MHC. These financial statements do not include the transactions and balances of Oconee Federal, MHC. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the Company’s financial position as of December 31, 2018 and June 30, 2018 and the results of operations and cash flows for the interim periods ended December 31, 2018 and 2017. All interim amounts have not been audited, and the results of operations for the interim periods herein are not necessarily indicative of the results of operations to be expected for the year ending June 30, 2019 or any other period. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2018. Certain amounts have been reclassified to conform to the current period presentation. The reclassifications had no effect on net income or shareholders’ equity as previously reported. Cash Flows: Use of Estimates:

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	6 Months Ended
	Dec. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING STANDARDS	(2) NEW ACCOUNTING STANDARDS Accounting Standards Update (“ASU”) 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement”. Issued in August 2018, ASU 2018-13 provides guidance about fair value measurement disclosures. The amendment requires numerous removals, modifications and additions of fair value disclosure information. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years; early adoption is permitted. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. The Company does not expect these amendments to have a material effect on its consolidated financial statements. ASU 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”. Issued in February 2018, ASU 2018-02 provides guidance with regard to the reclassification from accumulated other comprehensive income (“AOCI”) to retained earnings for certain stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years; early adoption is permitted. The Company adopted this standard effective March 31, 2018 and elected to reclassify the income tax effects of the Tax Cuts and Jobs Act from AOCI to retained earnings. ASU 2017-09, “Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting”. Issued in May 2017, ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The amendments are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The amendments should be applied prospectively to an award modified on or after the adoption date. The Company has determined that this guidance does not have a material effect on its consolidated financial statements. ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities”. Issued in March 2017, ASU 2017-08 amends the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. If an entity early adopts in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The amendments should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is assessing the impact of ASU 2017-08 on its consolidated financial statements. ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”. Issued in January 2017, ASU 2017-04 amendments eliminate Step 2 from the goodwill impairment test. The amendments also eliminate the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The guidance is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. ASU 2017-04 should be adopted on a prospective basis. The Company does not believe that this new guidance will have a material effect on its consolidated financial statements. ASU 2016-15, “Statement of Cash Flows (Topic 230)”. Issued in August 2016, ASU 2016-15 provides guidance on the classification of certain cash receipts and cash payments for presentation in the statement of cash flows. The amendment is effective for the Company for fiscal years beginning after December 15, 2017, and interim periods within those years. The amendments will be applied using a retrospective transition method to each period presented unless impracticable. The Company has determined that this guidance does not have a material effect on its consolidated financial statements. ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. Issued in June 2016, ASU 2016-13 provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other commitments to extend credit held by a reporting entity at each reporting date. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 eliminate the probable incurred loss recognition in current GAAP and reflect an entity’s current estimate of all expected credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets. For purchased financial assets with a more-than-insignificant amount of credit deterioration since origination (“PCD assets”) that are measured at amortized cost, the initial allowance for credit losses is added to the purchase price rather than being reported as a credit loss expense. Subsequent changes in the allowance for credit losses on PCD assets are recognized through the statement of income as a credit loss expense. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company has formed a management committee to address this issue, including consideration of third party vendor support. The Company is currently evaluating the impact of ASU 2016-13 on its consolidated financial statements. ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities”. Issued in January 2016, ASU 2016-01 addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The ASU affects public and private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities. This ASU is now effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company has determined that this guidance does not have a material effect on its consolidated financial statements. However, the Company measured the fair value of its loan portfolio as of December 31, 2018 using an exit price notion. ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. Issued in May 2014, ASU 2014-09 provides a framework for revenue recognition that replaces the existing industry and transaction specific requirements under the existing standards. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. On July 9, 2015, the Financial Accounting Standards Board (“FASB”) approved amendments deferring the effective date by one year. ASU 2014-09 is now effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. In March and April 2016, the FASB issued final amendments (ASU 2016-08 and ASU 2016-10) to clarify the implementation guidance for principal versus agent considerations, identifying performance obligations and the accounting for licenses of intellectual property. In May 2016, the FASB issued final amendments (ASU-11) to clarify guidance related to collectability, noncash considerations, presentation of sales tax, and transition. The amendments can be applied retrospectively to each prior reporting period or retrospectively with the cumulative effect of initially applying this Update recognized at the date of initial application. The Company adopted the new guidance effective July 1, 2018 and intends to utilize the modified retrospective method. Under the modified retrospective method the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. Since the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the Company does not expect the new guidance to have a material impact on revenue most closely associated with financial instruments, including interest income and expense. The Company has completed its overall assessment of revenue streams and review of related contracts potentially affected by the ASU, including deposit related fees, interchange fees, and merchant income. Based on this assessment, the Company concluded that ASU 2014-09 does not materially change the method in which the Company currently recognizes revenue for these revenue streams. The Company also completed its evaluation of certain costs related to these revenue streams to determine whether such costs should be presented as expenses or contra-revenue (i.e., gross vs. net). Based on its evaluation, the Company determined that the classification of certain debit and credit card related revenues should change (i.e., revenue previously recorded as contra-expense will be recorded as revenue). These classification changes are expected to result in an immaterial net increase of both revenue and expense. This change is not expected to have a material effect to noninterest income or expense. The Company adopted ASU 2014-09 as of its required effective date of July 1, 2018 utilizing the modified retrospective approach. Since there was no net income impact upon adoption of the new guidance, a cumulative effect adjustment to opening retained earnings was not deemed necessary. The Company did reclassify prior period amounts for the debit and credit card costs noted above. There have been no accounting standards that have been issued or proposed by the FASB or other standards-setting bodies during this quarter that are expected to have a material impact on the Company’s financial position, results of operations or cash flows. The Company continues to evaluate the impact of standards previously issued and not yet effective, and have no changes in our assessment to disclose since filing of the Form 10-K.

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)	6 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE ("EPS")	(3) EARNINGS PER SHARE (“EPS”) Basic EPS is based on the weighted average number of common shares outstanding and is adjusted for ESOP shares not yet committed to be released. Unvested restricted stock awards, which contain rights to non-forfeitable dividends, are considered participating securities and the two-class method of computing basic and diluted EPS is applied. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as outstanding stock options, were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is calculated by adjusting the weighted average number of shares of common stock outstanding to include the effect of contracts or securities exercisable (such as stock options) or which could be converted into common stock, if dilutive, using the treasury stock method. The factors used in the earnings per common share computation follow: Three Months Ended Six Months Ended December 31, December 31, December 31, December 31, Earnings per share Net income/(loss) $ 947 $ (59 ) $ 1,831 $ 798 Less: distributed earnings allocated to participating securities (1 ) (2 ) (3 ) (4 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities (2 ) 2 (2 ) 1 Net earnings/(loss) available to common shareholders $ 944 $ (59 ) $ 1,826 $ 795 Weighted average common shares outstanding including participating securities 5,762,678 5,786,109 5,768,419 5,797,217 Less: participating securities (15,355 ) (21,910 ) (15,355 ) (21,910 ) Less: average unearned ESOP shares (61,926 ) (70,950 ) (55,760 ) (77,480 ) Weighted average common shares outstanding 5,685,397 5,693,249 5,697,304 5,697,827 Basic earnings/(loss) per share $ 0.17 $ (0.01 ) $ 0.32 $ 0.14 Weighted average common shares outstanding 5,685,397 5,693,249 5,697,304 5,697,827 Add: dilutive effects of assumed exercises of stock options 119,788 130,658 123,711 127,844 Average shares and dilutive potential common shares 5,805,185 5,823,907 5,821,015 5,825,671 Diluted earnings/(loss) per share $ 0.16 $ (0.01 ) $ 0.31 $ 0.14 During the three and six months ended December 31, 2018 and 2017, 22,400 shares were considered anti-dilutive as the exercise price was in excess of the average market price for the respective periods.

SECURITIES AVAILABLE-FOR-SALE

SECURITIES AVAILABLE-FOR-SALE	6 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
SECURITIES AVAILABLE-FOR-SALE	(4) SECURITIES AVAILABLE-FOR-SALE Debt, mortgage-backed and equity securities have been classified in the consolidated balance sheets according to management’s intent. U.S. Government agency mortgage-backed securities consist of securities issued by U.S. Government agencies and U.S. Government sponsored enterprises. Investment securities at December 31, 2018 and June 30, 2018 are as follows: Gross Gross Amortized Unrealized Unrealized Fair December 31, 2018 Cost Gains Losses Value Available-for-sale: FHLMC common stock $ 20 $ 66 $ — $ 86 Certificates of deposit 4,739 — (90 ) 4,649 Municipal securities 42,020 25 (880 ) 41,165 SBA loan pools 47 1 — 48 CMOs 9,514 — (276 ) 9,238 U.S. Government agency mortgage-backed securities 41,484 12 (844 ) 40,652 U.S. Government agency bonds 14,019 — (357 ) 13,662 Total available-for-sale $ 111,843 $ 104 $ (2,447 ) $ 109,500 Gross Gross Amortized Unrealized Unrealized Fair June 30, 2018 Cost Gains Losses Value Available-for-sale: FHLMC common stock $ 20 $ 109 $ — $ 129 Certificates of deposit 5,485 — (94 ) 5,391 Municipal securities 43,393 14 (1,069 ) 42,338 SBA loan pools 401 2 — 403 CMOs 10,529 — (445 ) 10,084 U.S. Government agency mortgage-backed securities 44,490 6 (1,206 ) 43,290 U.S. Government agency bonds 14,027 — (516 ) 13,511 Total available-for-sale $ 118,345 $ 131 $ (3,330 ) $ 115,146 Securities pledged at December 31, 2018 and June 30, 2018 had fair values of $69,117 and $42,098, respectively. These securities were pledged to secure public deposits and FHLB advances. At December 31, 2018 and June 30, 2018, there were no holdings of securities of any one issuer, other than U.S. Government agencies and U.S. Government sponsored enterprises, in an amount greater than 10% of shareholders’ equity. The following tables show the fair value and unrealized loss of securities that have been in unrealized loss positions for less than twelve months and for twelve months or more at December 31, 2018 and June 30, 2018. The tables also show the number of securities in an unrealized loss position for each category of investment security as of the respective dates. Less than 12 Months 12 Months or More Total Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) December 31, 2018 Available-for-sale: Certificates of deposit $ 1,965 $ (31 ) 8 $ 2,684 $ (59 ) 11 $ 4,649 $ (90 ) 19 Municipal securities 10,926 (98 ) 32 26,348 (782 ) 63 37,274 (880 ) 95 CMOs — — — 9,238 (276 ) 16 9,238 (276 ) 16 U.S. Government agency mortgage-backed securities 7,350 (44 ) 12 32,000 (800 ) 45 39,350 (844 ) 57 U.S. Government agency bonds — — — 12,235 (357 ) 13 12,235 (357 ) 13 $ 20,241 $ (173 ) 52 $ 82,505 $ (2,274 ) 148 $ 102,746 $ (2,447 ) 200 Less than 12 Months 12 Months or More Total Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) June 30, 2018 Available-for-sale: Certificates of deposit $ 5,391 $ (94 ) 22 $ — $ — — $ 5,391 $ (94 ) 22 Municipal securities 28,305 (587 ) 75 10,789 (482 ) 25 39,094 (1,069 ) 100 CMOs 1,334 (38 ) 2 8,750 (407 ) 14 10,084 (445 ) 16 U.S. Government agency mortgage-backed securities 30,997 (773 ) 43 10,887 (433 ) 13 41,884 (1,206 ) 56 U.S. Government agency bonds 5,789 (177 ) 7 7,722 (339 ) 7 13,511 (516 ) 14 $ 71,816 $ (1,669 ) 149 $ 38,148 $ (1,661 ) 59 $ 109,964 $ (3,330 ) 208 (1) Actual amounts. The Company evaluates securities for other-than-temporary impairments (“OTTI”) at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. The Company considers the length of time and the extent to which the fair value has been less than amortized cost and the financial condition and near-term prospects of the issuer. Additionally, the Company considers its intent to sell or whether it will be more likely than not it will be required to sell the security prior to the security's anticipated recovery in fair value. In analyzing an issuer's financial condition, the Company may consider whether the securities are issued by federal Government agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer's financial condition. None of the unrealized losses at December 31, 2018 were recognized into net income for the three or six months ended December 31, 2018 because the issuers’ bonds are of high credit quality, management does not intend to sell and it is more likely than not that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates. The fair value of these securities is expected to recover as they approach their maturity date or reset date. None of the unrealized losses at June 30, 2018 were recognized as having OTTI during the year ended June 30, 2018. The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at December 31, 2018 and June 30, 2018 by contractual maturity. December 31, 2018 June 30, 2018 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ 3,245 $ 3,216 $ 1,004 $ 1,003 Due from one to five years 21,602 21,218 19,415 19,049 Due after five years to ten years 26,685 26,104 33,186 32,230 Due after ten years 9,293 8,986 9,701 9,361 Mortgage-backed securities, CMOs and FHLMC stock (1) 51,018 49,976 55,039 53,503 Total available for sale $ 111,843 $ 109,500 $ 118,345 $ 115,146 (1) Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. FHLMC common stock is not scheduled because it has no contractual maturity date. The following table presents the gross proceeds from sales of securities available-for-sale and gains or losses recognized for the three and six months ended December 31, 2018 and 2017: Three Months Ended Six Months Ended Available-for-sale: December 31, December 31, December 31, December 31, Proceeds $ — $ — $ 1,193 $ 3,997 Gross gains — — 3 11 Gross losses — — (2 ) (1 ) The tax provision related to these net realized gains for the six months ended December 31, 2018 was less than $1, and for the six months ended December 31, 2017 was $2.

LOANS

LOANS	6 Months Ended
	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]
LOANS	(5) LOANS The components of loans at December 31, 2018 and June 30, 2018 were as follows: December 31, June 30, Real estate loans: One-to-four family $ 284,569 $ 269,868 Multi-family 1,677 1,735 Home equity 4,304 3,914 Nonresidential 23,442 17,591 Agricultural 1,199 1,272 Construction and land 35,047 27,513 Total real estate loans 350,238 321,893 Commercial and industrial 1,296 326 Consumer and other loans 5,310 5,539 Total loans $ 356,844 $ 327,758 The following table presents the activity in the allowance for loan losses for the three and six months ended December 31, 2018 by portfolio segment: Three Months Ended December 31, 2018 Beginning Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 956 $ 29 $ — $ — $ 985 Multi-family 4 — — — 4 Home equity 13 2 — — 15 Nonresidential 69 35 — — 104 Agricultural 1 — — — 1 Construction and land 98 (1 ) — — 97 Total real estate loans 1,141 65 — — 1,206 Commercial and industrial 3 15 — — 18 Consumer and other loans 7 (4 ) — — 3 Total loans $ 1,151 $ 76 $ — $ — $ 1,227 Six Months Ended December 31, 2018 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 939 $ 64 $ (18 ) $ — $ 985 Multi-family 4 — — — 4 Home equity 8 7 — — 15 Nonresidential 66 38 — — 104 Agricultural 1 — — — 1 Construction and land 74 23 — — 97 Total real estate loans 1,092 132 (18 ) — 1,206 Commercial and industrial 4 14 — — 18 Consumer and other loans 1 2 — — 3 Total loans $ 1,097 $ 148 $ (18 ) $ — $ 1,227 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at December 31, 2018: Ending Allowance on Loans: Loans: At December 31, 2018 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 985 $ 2,369 $ 282,200 Multi-family — 4 — 1,677 Home equity — 15 — 4,304 Nonresidential — 104 642 22,800 Agricultural — 1 413 786 Construction and land — 97 — 35,047 Total real estate loans — 1,206 3,424 346,814 Commercial and industrial — 18 — 1,296 Consumer and other loans — 3 — 5,310 Total loans $ — $ 1,227 $ 3,424 $ 353,420 The following table presents the activity in the allowance for loan losses for the three and six months ended December 31, 2017 by portfolio segment: Three Months ended December 31, 2017 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 889 $ (1 ) $ — $ — $ 888 Multi-family 4 — — — 4 Home equity 3 1 — — 4 Nonresidential 60 (1 ) — — 59 Agricultural 1 (1 ) — — — Construction and land 55 19 (1 ) — 73 Total real estate loans 1,012 17 (1 ) — 1,028 Commercial and industrial 6 (2 ) — — 4 Consumer and other loans 6 (6 ) — — — Total loans $ 1,024 $ 9 $ (1 ) $ — $ 1,032 Six Months ended December 31, 2017 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 900 $ (12 ) $ — $ — $ 888 Multi-family 4 — — — 4 Home equity 2 15 (13 ) — 4 Nonresidential 63 (4 ) — — 59 Agricultural 1 (1 ) — — — Construction and land 35 64 (26 ) — 73 Total real estate loans 1,005 62 (39 ) — 1,028 Commercial and industrial 4 — — — 4 Consumer and other loans 7 (6 ) (1 ) — — Total loans $ 1,016 $ 56 $ (40 ) $ — $ 1,032 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at June 30, 2018: Ending Allowance on Loans: Loans: At June 30, 2018 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 939 $ 2,434 $ 267,434 Multi-family — 4 — 1,735 Home equity — 8 — 3,914 Nonresidential — 66 671 16,920 Agricultural — 1 424 848 Construction and land — 74 — 27,513 Total real estate loans — 1,092 3,529 318,364 Commercial and industrial — 4 — 326 Consumer and other loans — 1 — 5,539 Total loans $ — $ 1,097 $ 3,529 $ 324,229 The tables below present loans that were individually evaluated for impairment by portfolio segment at December 31, 2018 and June 30, 2018, including the average recorded investment balance and interest earned for the six months ended December 31, 2018 and the year ended June 30, 2018: December 31, 2018 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 2,443 $ 2,369 $ — $ 2,402 $ — Multi-family — — — — — Home equity — — — — — Nonresidential 677 642 — 657 — Agricultural 962 413 — 419 — Construction and land — — — — — Total real estate loans 4,082 3,424 — 3,478 — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 4,082 $ 3,424 $ — $ 3,478 $ — With recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ — $ — Multi-family — — — — — Home equity — — — — — Nonresidential — — — — — Agricultural — — — — — Construction and land — — — — — Total real estate loans — — — — — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ — $ — $ — $ — $ — Totals: Real estate loans $ 4,082 $ 3,424 $ — $ 3,478 $ — Consumer and other loans — — — — — Total $ 4,082 $ 3,424 $ — $ 3,478 $ — June 30, 2018 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 2,516 $ 2,434 $ — $ 2,251 $ 67 Multi-family — — — — — Home equity — — — — — Nonresidential 707 671 — 336 3 Agricultural 972 424 — 436 7 Construction and land — — — 131 — Total real estate loans 4,195 3,529 — 3,154 77 Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 4,195 $ 3,529 $ — $ 3,154 $ 77 With recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ 484 $ — Multi-family — — — — — Home equity — — — — — Nonresidential — — — — — Agricultural — — — — — Construction and land — — — — — Total real estate loans — — — 484 — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ — $ — $ — $ 484 $ — Totals: Real estate loans $ 4,195 $ 3,529 $ — $ 3,638 $ 77 Consumer and other loans — — — — — Total $ 4,195 $ 3,529 $ — $ 3,638 $ 77 The following tables present the aging of past due loans as well as nonaccrual loans. Nonaccrual loans and accruing loans past due 90 days or more include both smaller balance homogenous loans and larger balance loans that are evaluated either collectively or individually for impairment. Total past due loans and nonaccrual loans at December 31, 2018: 30-59 60-89 90 Days Total Current Total Nonaccrual Accruing Real estate loans: One-to-four family $ 6,268 $ 2,089 $ 591 $ 8,948 $ 275,621 $ 284,569 $ 3,005 $ — Multi-family — — — — 1,677 1,677 — — Home equity 121 — 124 245 4,059 4,304 124 — Nonresidential 329 185 158 672 22,770 23,442 1,022 — Agricultural — — 413 413 786 1,199 413 — Construction and land 27 33 15 75 34,972 35,047 40 — Total real estate loans 6,745 2,307 1,301 10,353 339,885 350,238 4,604 — Commercial and industrial — — — — 1,296 1,296 — — Consumer and other loans 1 — — 1 5,309 5,310 — — Total $ 6,746 $ 2,307 $ 1,301 $ 10,354 $ 346,490 $ 356,844 $ 4,604 $ — Total past due and nonaccrual loans by portfolio segment at June 30, 2018: 30-59 60-89 90 Days Total Current Total Nonaccrual Accruing Real estate loans: One-to-four family $ 5,180 $ 1,787 $ 897 $ 7,864 $ 262,004 $ 269,868 $ 3,969 $ — Multi-family — — — — 1,735 1,735 — — Home equity 106 84 40 230 3,684 3,914 40 — Nonresidential 376 179 — 555 17,036 17,591 908 — Agricultural — 424 — 424 848 1,272 445 — Construction and land 50 34 — 84 27,429 27,513 19 — Total real estate loans 5,712 2,508 937 9,157 312,736 321,893 5,381 — Commercial and industrial — — — — 326 326 — — Consumer and other loans — — — — 5,539 5,539 1 — Total $ 5,712 $ 2,508 $ 937 $ 9,157 $ 318,601 $ 327,758 $ 5,382 $ — Troubled Debt Restructurings: At December 31, 2018 and June 30, 2018, total loans that have been modified as troubled debt restructurings were $3,008 and $3,016, respectively, which consisted of one construction loan, one agricultural loan, two nonresidential real estate and five one-to-four family first lien loans at December 31, 2018 and one construction loan, two agricultural loans, two non-residential real estate loans and four one-to-four family first lien loans at June 30, 2018. There was no specific allowance for loss established for these loans at December 31, 2018 or June 30, 2018. Additionally, there were no commitments to lend any additional amounts on any loan after the modification. The one-to-four family first lien troubled debt restructured during the six months ended December 31, 2018 involved renewing an existing loan with a term concession. No loans modified as troubled debt restructurings during the twelve months ended December 31, 2018 have defaulted since restructuring. All of these loans are on non-accrual at December 31, 2018 and June 30, 2018. At December 31, 2018 and June 30, 2018, $2,423 and $2,521, respectively, were individually evaluated for impairment. Loan Grades: The Company utilizes a grading system whereby all loans are assigned a grade based on the risk profile of each loan. Loan grades are determined based on an evaluation of relevant 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. All loans, regardless of size, are analyzed and are given a grade based upon the management’s assessment of the ability of borrowers to service their debts. Pass: Loan assets of this grade conform to a preponderance of our underwriting criteria and are acceptable as a credit risk, based upon the current net worth and paying capacity of the obligor. Loans in this category also include loans secured by liquid assets and secured loans to borrowers with unblemished credit histories. Pass-Watch: Loan assets of this grade represent our minimum level of acceptable credit risk. This grade may also represent obligations previously rated “Pass”, but with significantly deteriorating trends or previously rated. Special Mention: Loan assets of this grade have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loan assets of this grade are inadequately protected by the current net worth and paying 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. Portfolio Segments: One-to-four family: For traditional homes, the Company may originate loans with loan-to-value ratios in excess of 80% if the borrower obtains mortgage insurance or provides readily marketable collateral. The Company may make exceptions for special loan programs that we offer. The Company also originates residential mortgage loans for non-owner-occupied homes with loan-to-value ratios of up to 80%. The Company historically originated residential mortgage loans with loan-to-value ratios of up to 75% for manufactured or modular homes. The Company no longer offers residential mortgage loans for manufactured or modular homes as of December 1, 2014. However, renewals of existing performing credits that meet the Company’s underwriting requirements will be considered. The Company requires lower loan-to-value ratios for manufactured and modular homes because such homes tend to depreciate over time. Manufactured or modular homes must be permanently affixed to a lot to make them more difficult to move without the Company’s permission. Such homes must be "de-titled" by the State of South Carolina or Georgia so that they are taxed and must be transferred as residential homes rather than vehicles. The Company also obtains a mortgage on the real estate to which such homes are affixed. Multi-family: Multi-family real estate loans generally present a higher level of risk than loans secured by one-to-four family residences. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income-producing properties and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family residential real estate is typically dependent upon the successful operation of the related real estate project. Home Equity: Nonresidential Real Estate: Loans secured by nonresidential real estate generally are larger than one-to-four family residential loans and involve greater credit risk. Nonresidential real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Repayment of these loans depends to a large degree on the results of operations and management of the properties securing the loans or the businesses conducted on such property, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general, including the current adverse conditions. Our nonresidential real estate lending includes a significant amount of loans to churches. Because a church's financial stability often depends on donations from congregation members rather than income from business operations, repayment may be affected by economic conditions that affect individuals located both in our market area and in other market areas with which we are not as familiar. In addition, due to the unique nature of church buildings and properties, the real estate securing church loans may be less marketable than other nonresidential real estate. The Company considers a number of factors in originating nonresidential real estate loans. The Company evaluates the qualifications and financial condition of the borrower, including credit history, cash flows, the applicable business plan, the financial resources of the borrower, the borrower's experience in owning or managing similar property and the borrower's payment history with the Company and other financial institutions. In evaluating the property securing the loan, the factors the Company considers include the net operating income of the mortgaged property before debt service and depreciation, the ratio of the loan amount to the appraised value of the mortgaged property and the debt service coverage ratio (the ratio of net operating income to debt service). For church loans, the Company also considers the length of time the church has been in existence, the size and financial strength of the denomination with which it is affiliated, attendance figures and growth projections and current operating budgets. The collateral underlying all nonresidential real estate loans is appraised by outside independent appraisers approved by our board of directors. Personal guarantees may be obtained from the principals of nonresidential real estate borrowers, and in the case of church loans, guarantees from the applicable denomination may be obtained. Agricultural: Loans secured by agricultural real estate generally are larger than one-to-four family residential loans and involve greater credit risk. Agricultural real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Repayment of these loans depends to a large degree on the results of operations and management of the properties securing the loans or the businesses conducted on such property, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general, including the current adverse conditions. Construction and Land: The Company also makes interim construction loans for nonresidential properties. In addition, the Company occasionally makes loans for the construction of homes "on speculation," but the Company generally permits a borrower to have only two such loans at a time. These loans generally have a maximum term of eight months, and upon completion of construction convert to conventional amortizing nonresidential real estate loans. These construction loans have rates and terms comparable to permanent loans secured by property of the type being constructed that we originate. Generally, the maximum loan-to-value ratio of these construction loans is 85%. Commercial and Industrial Loans: Commercial and industrial loans and leases typically are underwritten on the basis of the borrower’s or lessee’s ability to make repayment from the cash flow of its business and generally are collateralized by business assets. As a result, such loans and leases involve additional complexities, variables and risks and require more thorough underwriting and servicing than other types of loans and leases. Consumer and Other Loans: Consumer loans may entail greater credit risk than residential mortgage loans, particularly in the case of consumer loans that are unsecured or are secured by rapidly depreciable assets, such as automobiles. In addition, consumer loan collections are dependent on the borrower's continuing financial stability, and thus are more likely to be affected by adverse personal circumstances. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. Based on the most recent analysis performed, the risk grade of loans by portfolio segment are presented in the following tables. Total loans by risk grade and portfolio segment at December 31, 2018: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 269,686 $ 5,026 $ 3,260 $ 6,597 $ — $ 284,569 Multi-family 1,677 — — — — 1,677 Home equity 3,667 340 125 172 — 4,304 Nonresidential 19,449 1,747 1,117 1,129 — 23,442 Agricultural 194 337 255 413 — 1,199 Construction and land 34,104 750 111 82 — 35,047 Total real estate loans 328,777 8,200 4,868 8,393 — 350,238 Commercial and industrial 1,296 — — — — 1,296 Consumer and other loans 5,310 — — — — 5,310 Total $ 335,383 $ 8,200 $ 4,868 $ 8,393 $ — $ 356,844 Total loans by risk grade and portfolio segment at June 30, 2018: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 254,721 $ 5,051 $ 3,350 $ 6,746 $ — $ 269,868 Multi-family 1,735 — — — — 1,735 Home equity 3,298 311 129 176 — 3,914 Nonresidential 13,462 1,802 1,143 1,184 — 17,591 Agricultural 217 349 261 445 — 1,272 Construction and land 26,551 771 115 76 — 27,513 Total real estate loans 299,984 8,284 4,998 8,627 — 321,893 Commercial and industrial 326 — — — — 326 Consumer and other loans 5,539 — — — — 5,539 Total $ 305,849 $ 8,284 $ 4,998 $ 8,627 $ — $ 327,758 At December 31, 2018, loans totaling $796 were in formal foreclosure proceedings and are included in one-to-four family, nonresidential and agricultural loan categories.

BORROWINGS

BORROWINGS	6 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
BORROWINGS	(6) BORROWINGS At December 31, 2018 and June 30, 2018, advances from the Federal Home Loan Bank were as follows: December 31, 2018 Balance Stated Interest Rate FHLB advances due January 2019 through $ 32,500 2.47% - 2.78% Total $ 32,500 June 30, 2018 Balance Stated Interest Rate FHLB advances due September 2018 through November 2018 $ 14,500 2.09% - 2.23% Total $ 14,500 The average interest rate of all outstanding FHLB advances was 2.64% and 2.14% on December 31, 2018 and June 30, 2018, respectively. Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $69,117 and $36,248 of investment securities at December 31, 2018 and June 30, 2018, respectively. The Association has also pledged as collateral FHLB stock and has entered into a blanket collateral agreement whereby qualifying mortgages, free of other encumbrances and at various discounted values as determined by the FHLB, will be maintained. Based on this collateral, the Association is eligible to borrow up to a total of $124,665 at December 31, 2018. Payments over the next five years are as follows: 2019 $32,500 There were no overnight borrowings at December 31, 2018 or June 30, 2018.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	(7) FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Investment Securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals, which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for both collateral-dependent impaired loans and real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. Loan Servicing Rights: Fair value is determined based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data and results in a Level 3 classification. Assets and liabilities measured at fair value on a recurring basis at December 31, 2018 and June 30, 2018 are summarized below: Fair Value Measurements December 31, 2018 June 30, 2018 (Level 2) (Level 3) (Level 2) (Level 3) Financial assets: Securities available-for-sale: FHLMC common stock $ 86 $ — $ 129 $ — Certificates of deposit 4,649 — 5,391 — Municipal securities 41,165 — 42,338 — SBA loan pools 48 — 403 — CMOs 9,238 — 10,084 — U.S. Government agency mortgage-backed securities 40,652 — 43,290 — U.S. Government agency bonds 13,662 — 13,511 — Total securities available-for-sale 109,500 — 115,146 — Loan servicing rights — 1,017 — 1,093 Total financial assets $ 109,500 $ 1,017 $ 115,146 $ 1,093 Presented in the table below are assets measured at fair value on a nonrecurring basis using level 3 inputs at December 31, 2018 and June 30, 2018: Fair Value Measurements December 31, 2018 June 30, 2018 (Level 3) (Level 3) Financial assets: Impaired loans, with specific allocations: One-to-four family $ — $ — Nonresidential — — Construction and land — — Total financial assets — — Non-financial assets: Real estate owned, net: One-to-four family 89 91 Nonresidential 464 983 Construction and land 270 — Total non-financial assets 823 1,074 Total assets measured at fair value on a non-recurring basis $ 823 $ 1,074 The Company's impaired loans at December 31, 2018 and June 30, 2018 were measured at fair value based primarily upon the estimated value of real estate collateral less costs to sell. There were no such loans as of December 31, 2018 or June 30, 2018. Real estate owned is carried at the lower of carrying value or fair value less costs to sell. The carrying value of real estate owned at December 31, 2018 and June 30, 2018 were $823 and $1,074, respectively. There was no valuation allowances associated with these properties at December 31, 2018 or June 30, 2018. The table below presents a reconciliation of all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs for the three and six months ended December 31, 2018 and 2017: Fair Value Measurements (Level 3) Three Months Ended Six Months Ended December 31, December 31, December 31 December 31, Loan Servicing Rights Loan Servicing Rights Loan Servicing Rights Loan Servicing Rights Balance at beginning of period: $ 1,050 $ 1,089 $ 1,093 $ 1,141 Purchases — — — — Unrealized net losses included in net income (33 ) (65 ) (76 ) (117 ) Balance at end of period: $ 1,017 $ 1,024 $ 1,017 $ 1,024 The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2018 and June 30, 2018. Level 3 Quantitative Information December 31, June 30, Valuation Technique Unobservable Inputs Range Fair Value Fair Value Loan servicing rights $ 1,017 $ 1,093 Discounted cash flows Discount rate, estimated timing of cash flows 10.13% to 10.25% Real estate owned net: Sales comparison approach Adjustment for differences between the comparable sales One-to-four family $ 89 $ 91 0% to 20% Nonresidential $ 464 $ 983 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Construction and land $ 270 $ — Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Many of the Company’s assets and liabilities are short-term financial instruments whose carrying amounts reported in the consolidated balance sheets approximate fair value. These items include cash and cash equivalents, bank owned life insurance, accrued interest receivable and payable balances, variable rate loan and deposits that re-price frequently and fully. The estimated fair values of the Company’s remaining on-balance sheet financial instruments at December 31, 2018 and June 30, 2018 are summarized below: December 31, 2018 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 109,500 $ — $ 109,500 $ — $ 109,500 Loans, net (1) 355,617 — — 350,247 350,247 Loans held for sale (2) 154 — — 154 154 Loan servicing rights 1,017 — — 1,017 1,017 Restricted equity securities 2,398 N/A N/A N/A N/A Financial liabilities Deposits $ 393,949 $ 171,602 $ 215,435 $ — $ 387,037 FHLB Advances 32,500 — 32,405 — 32,405 June 30, 2018 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 115,146 $ — $ 115,146 $ — $ 115,146 Loans, net (1) 326,661 — — 319,958 319,958 Loans held for sale (2) — — — — — Loan servicing rights 1,093 — — 1,093 1,093 Restricted equity securities 1,639 N/A N/A N/A N/A Financial liabilities Deposits $ 387,588 $ 174,192 $ 208,967 $ — $ 383,159 FHLB Advances 14,500 — 14,494 — 14,494 (1) Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 3 classification. (2) Carrying amount of loans is net of unearned income and the allowance. In accordance with the adoption of ASU No. 2016-01, the fair value of loans as of December 31, 2018 was measured using an exit price notion. The fair value of loans as of June 30, 2018 was measured using an entry price notion.

EMPLOYEE STOCK OWNERSHIP PLAN

EMPLOYEE STOCK OWNERSHIP PLAN	6 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EMPLOYEE STOCK OWNERSHIP PLAN	(8) EMPLOYEE STOCK OWNERSHIP PLAN Employees participate in an Employee Stock Ownership Plan (“ESOP”). The ESOP borrowed from the Company to purchase 248,842 shares of the Company’s common stock at $10.00 per share during 2011. The Company makes discretionary contributions to the ESOP and pays dividends on unallocated shares to the ESOP, and the ESOP uses funds it receives to repay the loan. When loan payments are made, ESOP shares are allocated to participants based on relative compensation and expense is recorded. Dividends on allocated shares increase participant accounts. Participants receive the shares at the end of employment. The Company makes contributions to the ESOP each December. There were no discretionary contributions made to the ESOP for debt retirement in 2018 or 2017. Total ESOP compensation expense for the three and six months ended December 31, 2018 was $110 and $225, respectively, and for the three and six months ended December 31, 2017 was $155 and $303, respectively. Shares held by the ESOP at December 31, 2018 and June 30, 2018 were as follows: December 31, June 30, Committed to be released to participants 24,230 10,769 Allocated to participants 127,985 130,249 Unearned 46,180 77,672 Total ESOP shares 198,395 218,690 Fair value of unearned shares $ 1,150 $ 2,333

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Dec. 31, 2018
Share-based Compensation [Abstract]
STOCK BASED COMPENSATION	(9) STOCK BASED COMPENSATION On April 5, 2012, the shareholders of Oconee Federal Financial Corp. approved the Oconee Federal Financial Corp. 2012 Equity Incentive Plan (the “Plan”) for employees and directors of the Company. The Plan authorizes the issuance of up to 435,472 shares of the Company’s common stock, with no more than 124,420 of shares as restricted stock awards and 311,052 as stock options, either incentive stock options or non-qualified stock options. The exercise price of options granted under the Plan may not be less than the fair market value on the date the stock option is granted. The compensation committee of the board of directors has sole discretion to determine the amount and to whom equity incentive awards are granted. There have been no stock options or restricted stock issued in fiscal 2019. In fiscal 2018, on December 22, 2017, the compensation committee of the board of directors approved the issuance of 22,400 stock options to purchase Company stock to officers. Stock options and restricted stock have vesting periods of five years or seven years, a percentage of which vests annually on each anniversary of the grant date. The weighted average vesting period of stock options granted in fiscal 2018 was seven years. Apart from the vesting schedule for both stock options and restricted stock, there are no performance-based conditions or any other material conditions applicable to the awards issued. The following table summarizes stock option activity for the six months ended December 31, 2018: Options Weighted- Average Exercise Price/Share Aggregate Intrinsic (1) Outstanding - June 30, 2018 241,209 $ 14.18 — Granted — — — Exercised (15,552 ) 11.58 — Forfeited — — — Outstanding - December 31, 2018 225,657 $ 14.36 $ 2,379 Fully vested and exercisable at December 31, 2018 177,548 $ 12.39 $ 2,221 Expected to vest in future periods 48,109 Fully vested and expected to vest - December 31, 2018 225,657 $ 14.36 $ 2,379 (1) The fair value for each option grant is estimated on the date of grant using the Black-Scholes-Merton option pricing model that uses the following assumptions. The Company uses the U.S. Treasury yield curve in effect at the time of the grant to determine the risk-free interest rate. The expected dividend yield is estimated using the projected annual dividend level and recent stock price of the Company’s common stock at the date of grant. Expected stock volatility is based on historical volatilities of the SNL Financial Index of Thrift MHCs. The expected life of the options is calculated based on the “simplified” method as provided for under generally accepted accounting principles. The weighted-average fair value of options granted and assumptions used in the Black-Scholes-Merton option pricing model in the fiscal years granted are listed below: There have been no stock options granted in fiscal year 2019. Fiscal Years Granted 2018 Risk-free interest rate 2.43 % Expected dividend yield 1.36 % Expected stock volatility 15.03 % Expected life (years) 8 Fair value $ 5.41 Stock options are assumed to be earned ratably over their respective vesting periods and charged to compensation expense based upon their grant date fair value and the number of options assumed to be earned. There were 8,070 and 4,035 options that were earned during the six months ended December 31, 2018 and 2017, respectively. Stock-based compensation expense for stock options for the three and six months ended December 31, 2018 was $11 and $21, respectively, and for the three and six months ended December 31, 2017 was $7 and $13, respectively. Total unrecognized compensation cost related to stock options was $143 at December 31, 2018 and is expected to be recognized over a weighted-average period of 3.5 years. The following table summarizes non-vested restricted stock activity for the six months ended December 31, 2018: December 31, Balance - beginning of year 15,355 Granted — Forfeited — Vested — Balance - end of period 15,355 Weighted average grant date fair value $ 13.09 The fair value of the restricted stock awards is amortized to compensation expense over their respective vesting periods and is based on the market price of the Company’s common stock at the date of grant multiplied by the number of shares granted that are expected to vest. Stock-based compensation expense for restricted stock included in noninterest expense for the three and six months ended December 31, 2018 was $25 and $51, respectively, and for the three and six months ended December 31, 2017 was $25 and $51, respectively. Unrecognized compensation expense for non-vested restricted stock awards was $188 at December 31, 2018 and is expected to be recognized over a weighted-average period of 2.5 years.

LOAN SERVICING RIGHTS

LOAN SERVICING RIGHTS	6 Months Ended
	Dec. 31, 2018
Transfers and Servicing [Abstract]
LOAN SERVICING RIGHTS	(10) LOAN SERVICING RIGHTS Mortgage loans serviced for others are not reported as assets; however, the underlying mortgage servicing rights associated with servicing these mortgage loans serviced for others is recorded as an asset in the consolidated balance sheet. The principal balances of those loans at December 31, 2018 and June 30, 2018 are as follows: December 31, June 30, Mortgage loan portfolio serviced for: FHLMC $ 88,669 $ 94,779 Custodial escrow balances maintained in connection with serviced loans were $378 and $799 at December 31, 2018 and June 30, 2018. Activity for loan servicing rights for the three and six months ended December 31, 2018 and 2017 is as follows: Three Months Ended Six Months Ended December 31, December 31, December 31, December 31, Loan servicing rights: Beginning of period: $ 1,050 $ 1,089 $ 1,093 $ 1,141 Additions — — — — Change in fair value (33 ) (65 ) (76 ) (117 ) End of period: $ 1,017 $ 1,024 $ 1,017 $ 1,024 Fair value at December 31, 2018 was determined using a discount rate of 10.25%, prepayment speed assumptions ranging from 4.7% to 13.7% Conditional Prepayment Rate (“CPR”) depending on the loans’ coupon, term and seasoning, and a weighted average default rate of 0.40%. Fair value at December 31, 2017 was determined using a discount rate of 9.63%, prepayment speed assumptions ranging from 5.2% to 19.3% CPR depending on the loans’ coupon, term and seasoning, and a weighted average default rate of 0.61%.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	(11) SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for the six months ended December 31, 2018 and 2017 is as follows: December 31, 2018 December 31, 2017 Cash paid during the period for: Interest paid $ 1,465 $ 785 Income taxes paid $ 218 $ 328 Supplemental noncash disclosures: Transfers from loans to real estate owned $ 48 $ 230

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	(12) SUBSEQUENT EVENTS On January 24, 2019, the Board of Directors of Oconee Federal Financial Corp. declared a quarterly cash dividend of $0.10 per share of Oconee Federal Financial Corp.’s common stock. The dividend is payable to stockholders of record as of February 7, 2019, and will be paid on or about February 21, 2019.

EARNINGS PER SHARE (EPS) (Table

EARNINGS PER SHARE (EPS) (Tables)	6 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of factors used in the earnings per common share computation	The factors used in the earnings per common share computation follow: Three Months Ended Six Months Ended December 31, December 31, December 31, December 31, Earnings per share Net income/(loss) $ 947 $ (59 ) $ 1,831 $ 798 Less: distributed earnings allocated to participating securities (1 ) (2 ) (3 ) (4 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities (2 ) 2 (2 ) 1 Net earnings/(loss) available to common shareholders $ 944 $ (59 ) $ 1,826 $ 795 Weighted average common shares outstanding including participating securities 5,762,678 5,786,109 5,768,419 5,797,217 Less: participating securities (15,355 ) (21,910 ) (15,355 ) (21,910 ) Less: average unearned ESOP shares (61,926 ) (70,950 ) (55,760 ) (77,480 ) Weighted average common shares outstanding 5,685,397 5,693,249 5,697,304 5,697,827 Basic earnings/(loss) per share $ 0.17 $ (0.01 ) $ 0.32 $ 0.14 Weighted average common shares outstanding 5,685,397 5,693,249 5,697,304 5,697,827 Add: dilutive effects of assumed exercises of stock options 119,788 130,658 123,711 127,844 Average shares and dilutive potential common shares 5,805,185 5,823,907 5,821,015 5,825,671 Diluted earnings/(loss) per share $ 0.16 $ (0.01 ) $ 0.31 $ 0.14

SECURITIES AVAILABLE-FOR-SALE (

SECURITIES AVAILABLE-FOR-SALE (Tables)	6 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of investment securities	Investment securities at December 31, 2018 and June 30, 2018 are as follows: Gross Gross Amortized Unrealized Unrealized Fair December 31, 2018 Cost Gains Losses Value Available-for-sale: FHLMC common stock $ 20 $ 66 $ — $ 86 Certificates of deposit 4,739 — (90 ) 4,649 Municipal securities 42,020 25 (880 ) 41,165 SBA loan pools 47 1 — 48 CMOs 9,514 — (276 ) 9,238 U.S. Government agency mortgage-backed securities 41,484 12 (844 ) 40,652 U.S. Government agency bonds 14,019 — (357 ) 13,662 Total available-for-sale $ 111,843 $ 104 $ (2,447 ) $ 109,500 Gross Gross Amortized Unrealized Unrealized Fair June 30, 2018 Cost Gains Losses Value Available-for-sale: FHLMC common stock $ 20 $ 109 $ — $ 129 Certificates of deposit 5,485 — (94 ) 5,391 Municipal securities 43,393 14 (1,069 ) 42,338 SBA loan pools 401 2 — 403 CMOs 10,529 — (445 ) 10,084 U.S. Government agency mortgage-backed securities 44,490 6 (1,206 ) 43,290 U.S. Government agency bonds 14,027 — (516 ) 13,511 Total available-for-sale $ 118,345 $ 131 $ (3,330 ) $ 115,146
Schedule of securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position	The tables also show the number of securities in an unrealized loss position for each category of investment security as of the respective dates. Less than 12 Months 12 Months or More Total Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) December 31, 2018 Available-for-sale: Certificates of deposit $ 1,965 $ (31 ) 8 $ 2,684 $ (59 ) 11 $ 4,649 $ (90 ) 19 Municipal securities 10,926 (98 ) 32 26,348 (782 ) 63 37,274 (880 ) 95 CMOs — — — 9,238 (276 ) 16 9,238 (276 ) 16 U.S. Government agency mortgage-backed securities 7,350 (44 ) 12 32,000 (800 ) 45 39,350 (844 ) 57 U.S. Government agency bonds — — — 12,235 (357 ) 13 12,235 (357 ) 13 $ 20,241 $ (173 ) 52 $ 82,505 $ (2,274 ) 148 $ 102,746 $ (2,447 ) 200 Less than 12 Months 12 Months or More Total Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) June 30, 2018 Available-for-sale: Certificates of deposit $ 5,391 $ (94 ) 22 $ — $ — — $ 5,391 $ (94 ) 22 Municipal securities 28,305 (587 ) 75 10,789 (482 ) 25 39,094 (1,069 ) 100 CMOs 1,334 (38 ) 2 8,750 (407 ) 14 10,084 (445 ) 16 U.S. Government agency mortgage-backed securities 30,997 (773 ) 43 10,887 (433 ) 13 41,884 (1,206 ) 56 U.S. Government agency bonds 5,789 (177 ) 7 7,722 (339 ) 7 13,511 (516 ) 14 $ 71,816 $ (1,669 ) 149 $ 38,148 $ (1,661 ) 59 $ 109,964 $ (3,330 ) 208 (1) Actual amounts.
Schedule of contractual maturity	The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at December 31, 2018 and June 30, 2018 by contractual maturity. December 31, 2018 June 30, 2018 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ 3,245 $ 3,216 $ 1,004 $ 1,003 Due from one to five years 21,602 21,218 19,415 19,049 Due after five years to ten years 26,685 26,104 33,186 32,230 Due after ten years 9,293 8,986 9,701 9,361 Mortgage-backed securities, CMOs and FHLMC stock (1) 51,018 49,976 55,039 53,503 Total available for sale $ 111,843 $ 109,500 $ 118,345 $ 115,146 (1) Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. FHLMC common stock is not scheduled because it has no contractual maturity date.
Schedule of proceeds from sales of securities available-for-sale and gains or losses recognized	The following table presents the gross proceeds from sales of securities available-for-sale and gains or losses recognized for the three and six months ended December 31, 2018 and 2017: Three Months Ended Six Months Ended Available-for-sale: December 31, December 31, December 31, December 31, Proceeds $ — $ — $ 1,193 $ 3,997 Gross gains — — 3 11 Gross losses — — (2 ) (1 )

LOANS (Tables)

LOANS (Tables)	6 Months Ended
	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]
Schedule of components of loans	The components of loans at December 31, 2018 and June 30, 2018 were as follows: December 31, June 30, Real estate loans: One-to-four family $ 284,569 $ 269,868 Multi-family 1,677 1,735 Home equity 4,304 3,914 Nonresidential 23,442 17,591 Agricultural 1,199 1,272 Construction and land 35,047 27,513 Total real estate loans 350,238 321,893 Commercial and industrial 1,296 326 Consumer and other loans 5,310 5,539 Total loans $ 356,844 $ 327,758
Schedule of activity in the allowance for loan losses	The following table presents the activity in the allowance for loan losses for the three and six months ended December 31, 2018 by portfolio segment: Three Months Ended December 31, 2018 Beginning Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 956 $ 29 $ — $ — $ 985 Multi-family 4 — — — 4 Home equity 13 2 — — 15 Nonresidential 69 35 — — 104 Agricultural 1 — — — 1 Construction and land 98 (1 ) — — 97 Total real estate loans 1,141 65 — — 1,206 Commercial and industrial 3 15 — — 18 Consumer and other loans 7 (4 ) — — 3 Total loans $ 1,151 $ 76 $ — $ — $ 1,227 Six Months Ended December 31, 2018 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 939 $ 64 $ (18 ) $ — $ 985 Multi-family 4 — — — 4 Home equity 8 7 — — 15 Nonresidential 66 38 — — 104 Agricultural 1 — — — 1 Construction and land 74 23 — — 97 Total real estate loans 1,092 132 (18 ) — 1,206 Commercial and industrial 4 14 — — 18 Consumer and other loans 1 2 — — 3 Total loans $ 1,097 $ 148 $ (18 ) $ — $ 1,227 The following table presents the activity in the allowance for loan losses for the three and six months ended December 31, 2017 by portfolio segment: Three Months ended December 31, 2017 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 889 $ (1 ) $ — $ — $ 888 Multi-family 4 — — — 4 Home equity 3 1 — — 4 Nonresidential 60 (1 ) — — 59 Agricultural 1 (1 ) — — — Construction and land 55 19 (1 ) — 73 Total real estate loans 1,012 17 (1 ) — 1,028 Commercial and industrial 6 (2 ) — — 4 Consumer and other loans 6 (6 ) — — — Total loans $ 1,024 $ 9 $ (1 ) $ — $ 1,032 Six Months ended December 31, 2017 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 900 $ (12 ) $ — $ — $ 888 Multi-family 4 — — — 4 Home equity 2 15 (13 ) — 4 Nonresidential 63 (4 ) — — 59 Agricultural 1 (1 ) — — — Construction and land 35 64 (26 ) — 73 Total real estate loans 1,005 62 (39 ) — 1,028 Commercial and industrial 4 — — — 4 Consumer and other loans 7 (6 ) (1 ) — — Total loans $ 1,016 $ 56 $ (40 ) $ — $ 1,032
Schedule of recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment	The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at December 31, 2018: Ending Allowance on Loans: Loans: At December 31, 2018 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 985 $ 2,369 $ 282,200 Multi-family — 4 — 1,677 Home equity — 15 — 4,304 Nonresidential — 104 642 22,800 Agricultural — 1 413 786 Construction and land — 97 — 35,047 Total real estate loans — 1,206 3,424 346,814 Commercial and industrial — 18 — 1,296 Consumer and other loans — 3 — 5,310 Total loans $ — $ 1,227 $ 3,424 $ 353,420 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at June 30, 2018: Ending Allowance on Loans: Loans: At June 30, 2018 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 939 $ 2,434 $ 267,434 Multi-family — 4 — 1,735 Home equity — 8 — 3,914 Nonresidential — 66 671 16,920 Agricultural — 1 424 848 Construction and land — 74 — 27,513 Total real estate loans — 1,092 3,529 318,364 Commercial and industrial — 4 — 326 Consumer and other loans — 1 — 5,539 Total loans $ — $ 1,097 $ 3,529 $ 324,229
Schedule of loans individually evaluated for impairment by portfolio segment	The tables below present loans that were individually evaluated for impairment by portfolio segment at December 31, 2018 and June 30, 2018, including the average recorded investment balance and interest earned for the six months ended December 31, 2018 and the year ended June 30, 2018: December 31, 2018 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 2,443 $ 2,369 $ — $ 2,402 $ — Multi-family — — — — — Home equity — — — — — Nonresidential 677 642 — 657 — Agricultural 962 413 — 419 — Construction and land — — — — — Total real estate loans 4,082 3,424 — 3,478 — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 4,082 $ 3,424 $ — $ 3,478 $ — With recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ — $ — Multi-family — — — — — Home equity — — — — — Nonresidential — — — — — Agricultural — — — — — Construction and land — — — — — Total real estate loans — — — — — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ — $ — $ — $ — $ — Totals: Real estate loans $ 4,082 $ 3,424 $ — $ 3,478 $ — Consumer and other loans — — — — — Total $ 4,082 $ 3,424 $ — $ 3,478 $ — June 30, 2018 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 2,516 $ 2,434 $ — $ 2,251 $ 67 Multi-family — — — — — Home equity — — — — — Nonresidential 707 671 — 336 3 Agricultural 972 424 — 436 7 Construction and land — — — 131 — Total real estate loans 4,195 3,529 — 3,154 77 Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 4,195 $ 3,529 $ — $ 3,154 $ 77 With recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ 484 $ — Multi-family — — — — — Home equity — — — — — Nonresidential — — — — — Agricultural — — — — — Construction and land — — — — — Total real estate loans — — — 484 — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ — $ — $ — $ 484 $ — Totals: Real estate loans $ 4,195 $ 3,529 $ — $ 3,638 $ 77 Consumer and other loans — — — — — Total $ 4,195 $ 3,529 $ — $ 3,638 $ 77
Schedule of total past due loans and nonaccrual loans	Total past due loans and nonaccrual loans at December 31, 2018: 30-59 60-89 90 Days Total Current Total Nonaccrual Accruing Real estate loans: One-to-four family $ 6,268 $ 2,089 $ 591 $ 8,948 $ 275,621 $ 284,569 $ 3,005 $ — Multi-family — — — — 1,677 1,677 — — Home equity 121 — 124 245 4,059 4,304 124 — Nonresidential 329 185 158 672 22,770 23,442 1,022 — Agricultural — — 413 413 786 1,199 413 — Construction and land 27 33 15 75 34,972 35,047 40 — Total real estate loans 6,745 2,307 1,301 10,353 339,885 350,238 4,604 — Commercial and industrial — — — — 1,296 1,296 — — Consumer and other loans 1 — — 1 5,309 5,310 — — Total $ 6,746 $ 2,307 $ 1,301 $ 10,354 $ 346,490 $ 356,844 $ 4,604 $ — Total past due and nonaccrual loans by portfolio segment at June 30, 2018: 30-59 60-89 90 Days Total Current Total Nonaccrual Accruing Real estate loans: One-to-four family $ 5,180 $ 1,787 $ 897 $ 7,864 $ 262,004 $ 269,868 $ 3,969 $ — Multi-family — — — — 1,735 1,735 — — Home equity 106 84 40 230 3,684 3,914 40 — Nonresidential 376 179 — 555 17,036 17,591 908 — Agricultural — 424 — 424 848 1,272 445 — Construction and land 50 34 — 84 27,429 27,513 19 — Total real estate loans 5,712 2,508 937 9,157 312,736 321,893 5,381 — Commercial and industrial — — — — 326 326 — — Consumer and other loans — — — — 5,539 5,539 1 — Total $ 5,712 $ 2,508 $ 937 $ 9,157 $ 318,601 $ 327,758 $ 5,382 $ —
Schedule of total loans by risk grade and portfolio segment	Total loans by risk grade and portfolio segment at December 31, 2018: Pass Pass-Watch Special Mention Substandard Doubtful Total Real estate loans: One-to-four family $ 269,686 $ 5,026 $ 3,260 $ 6,597 $ — $ 284,569 Multi-family 1,677 — — — — 1,677 Home equity 3,667 340 125 172 — 4,304 Nonresidential 19,449 1,747 1,117 1,129 — 23,442 Agricultural 194 337 255 413 — 1,199 Construction and land 34,104 750 111 82 — 35,047 Total real estate loans 328,777 8,200 4,868 8,393 — 350,238 Commercial and industrial 1,296 — — — — 1,296 Consumer and other loans 5,310 — — — — 5,310 Total $ 335,383 $ 8,200 $ 4,868 $ 8,393 $ — $ 356,844 Total loans by risk grade and portfolio segment at June 30, 2018: Pass Pass-Watch Special Mention Substandard Doubtful Total Real estate loans: One-to-four family $ 254,721 $ 5,051 $ 3,350 $ 6,746 $ — $ 269,868 Multi-family 1,735 — — — — 1,735 Home equity 3,298 311 129 176 — 3,914 Nonresidential 13,462 1,802 1,143 1,184 — 17,591 Agricultural 217 349 261 445 — 1,272 Construction and land 26,551 771 115 76 — 27,513 Total real estate loans 299,984 8,284 4,998 8,627 — 321,893 Commercial and industrial 326 — — — — 326 Consumer and other loans 5,539 — — — — 5,539 Total $ 305,849 $ 8,284 $ 4,998 $ 8,627 $ — $ 327,758

BORROWINGS (Tables)

BORROWINGS (Tables)	6 Months Ended
	Dec. 31, 2018
Borrowings
Schedule of advances from the federal home loan bank	At December 31, 2018 and June 30, 2018, advances from the Federal Home Loan Bank were as follows: December 31, 2018 Balance Stated Interest Rate FHLB advances due January 2019 through December 2019 $ 32,500 2.47% - 2.78% Total $ 32,500 June 30, 2018 Balance Stated Interest Rate FHLB advances due September 2018 through November 2018 $ 14,500 2.09% - 2.23% Total $ 14,500
Schedule of Payments over the next five years	Payments over the next five years are as follows: 2019 $32,500

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis at December 31, 2018 and June 30, 2018 are summarized below: Fair Value Measurements December 31, 2018 June 30, 2018 (Level 2) (Level 3) (Level 2) (Level 3) Financial assets: Securities available-for-sale: FHLMC common stock $ 86 $ — $ 129 $ — Certificates of deposit 4,649 — 5,391 — Municipal securities 41,165 — 42,338 — SBA loan pools 48 — 403 — CMOs 9,238 — 10,084 — U.S. Government agency mortgage-backed securities 40,652 — 43,290 — U.S. Government agency bonds 13,662 — 13,511 — Total securities available-for-sale 109,500 — 115,146 — Loan servicing rights — 1,017 — 1,093 Total financial assets $ 109,500 $ 1,017 $ 115,146 $ 1,093
Schedule of assets measured at fair value on a non-recurring basis using Level 3 inputs	Presented in the table below are assets measured at fair value on a nonrecurring basis using level 3 inputs at December 31, 2018 and June 30, 2018: Fair Value Measurements December 31, 2018 June 30, 2018 (Level 3) (Level 3) Financial assets: Impaired loans, with specific allocations: One-to-four family $ — $ — Nonresidential — — Construction and land — — Total financial assets — — Non-financial assets: Real estate owned, net: One-to-four family 89 91 Nonresidential 464 983 Construction and land 270 — Total non-financial assets 823 1,074 Total assets measured at fair value on a non-recurring basis $ 823 $ 1,074
Schedule of reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs Level 3	The table below presents a reconciliation of all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs for the three and six months ended December 31, 2018 and 2017: Fair Value Measurements (Level 3) Three Months Ended Six Months Ended December 31, December 31, December 31 December 31, Loan Servicing Rights Loan Servicing Rights Loan Servicing Rights Loan Servicing Rights Balance at beginning of period: $ 1,050 $ 1,089 $ 1,093 $ 1,141 Purchases — — — — Unrealized net losses included in net income (33 ) (65 ) (76 ) (117 ) Balance at end of period: $ 1,017 $ 1,024 $ 1,017 $ 1,024
Schedule of valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis	The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2018 and June 30, 2018. Level 3 Quantitative Information December 31, June 30, Valuation Technique Unobservable Inputs Range Fair Value Fair Value Loan servicing rights $ 1,017 $ 1,093 Discounted cash flows Discount rate, estimated timing of cash flows 10.13% to 10.25% Real estate owned net: Sales comparison approach Adjustment for differences between the comparable sales One-to-four family $ 89 $ 91 0% to 20% Nonresidential $ 464 $ 983 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Construction and land $ 270 $ — Sales comparison approach Adjustment for differences between the comparable sales 0% to 20%
Schedule of carrying amounts and estimated fair values of on-balance sheet financial instruments	The estimated fair values of the Company’s remaining on-balance sheet financial instruments at December 31, 2018 and June 30, 2018 are summarized below: December 31, 2018 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 109,500 $ — $ 109,500 $ — $ 109,500 Loans, net (1) 355,617 — — 350,247 350,247 Loans held for sale (2) 154 — — 154 154 Loan servicing rights 1,017 — — 1,017 1,017 Restricted equity securities 2,398 N/A N/A N/A N/A Financial liabilities Deposits $ 393,949 $ 171,602 $ 215,435 $ — $ 387,037 FHLB Advances 32,500 — 32,405 — 32,405 June 30, 2018 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 115,146 $ — $ 115,146 $ — $ 115,146 Loans, net (1) 326,661 — — 319,958 319,958 Loans held for sale (2) — — — — — Loan servicing rights 1,093 — — 1,093 1,093 Restricted equity securities 1,639 N/A N/A N/A N/A Financial liabilities Deposits $ 387,588 $ 174,192 $ 208,967 $ — $ 383,159 FHLB Advances 14,500 — 14,494 — 14,494 (1) Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 3 classification. (2) Carrying amount of loans is net of unearned income and the allowance. In accordance with the adoption of ASU No. 2016-01, the fair value of loans as of December 31, 2018 was measured using an exit price notion. The fair value of loans as of June 30, 2018 was measured using an entry price notion.

EMPLOYEE STOCK OWNERSHIP PLAN (

EMPLOYEE STOCK OWNERSHIP PLAN (Tables)	6 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of employee stock ownership plan (ESOP)	Shares held by the ESOP at December 31, 2018 and June 30, 2018 were as follows: December 31, June 30, Committed to be released to participants 24,230 10,769 Allocated to participants 127,985 130,249 Unearned 46,180 77,672 Total ESOP shares 198,395 218,690 Fair value of unearned shares $ 1,150 $ 2,333

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	6 Months Ended
	Dec. 31, 2018
Share-based Compensation [Abstract]
Schedule of stock option activity	The following table summarizes stock option activity for the six months ended December 31, 2018: Options Weighted- Average Exercise Price/Share Aggregate Intrinsic (1) Outstanding - June 30, 2018 241,209 $ 14.18 — Granted — — — Exercised (15,552 ) 11.58 — Forfeited — — — Outstanding - December 31, 2018 225,657 $ 14.36 $ 2,379 Fully vested and exercisable at December 31, 2018 177,548 $ 12.39 $ 2,221 Expected to vest in future periods 48,109 Fully vested and expected to vest - December 31, 2018 225,657 $ 14.36 $ 2,379 (1) The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The current market price was based on the closing price of common stock of $24.90 per share on December 31, 2018.
Schedule of weighted-average fair value of options granted and assumptions used in the Black-Scholes-Merton option pricing model	The weighted-average fair value of options granted and assumptions used in the Black-Scholes-Merton option pricing model in the fiscal years granted are listed below: Fiscal Years Granted 2018 Risk-free interest rate 2.43 % Expected dividend yield 1.36 % Expected stock volatility 15.03 % Expected life (years) 8 Fair value $ 5.41
Schedule of non-vested restricted stock activity	The following table summarizes non-vested restricted stock activity for the six months ended December 31, 2018: December 31, Balance - beginning of year 15,355 Granted — Forfeited — Vested — Balance - end of period 15,355 Weighted average grant date fair value $ 13.09

LOAN SERVICING RIGHTS (Tables)

LOAN SERVICING RIGHTS (Tables)	6 Months Ended
	Dec. 31, 2018
Transfers and Servicing [Abstract]
Schedule of principal balances of mortgage loans serviced	The principal balances of those loans at December 31, 2018 and June 30, 2018 are as follows: December 31, June 30, Mortgage loan portfolio serviced for: FHLMC $ 88,669 $ 94,779
Schedule of activity for loan servicing rights	Activity for loan servicing rights for the three and six months ended December 31, 2018 and 2017 is as follows: Three Months Ended Six Months Ended December 31, December 31, December 31, December 31, Loan servicing rights: Beginning of period: $ 1,050 $ 1,089 $ 1,093 $ 1,141 Additions — — — — Change in fair value (33 ) (65 ) (76 ) (117 ) End of period: $ 1,017 $ 1,024 $ 1,017 $ 1,024

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	Supplemental cash flow information for the six months ended December 31, 2018 and 2017 is as follows: December 31, 2018 December 31, 2017 Cash paid during the period for: Interest paid $ 1,465 $ 785 Income taxes paid $ 218 $ 328 Supplemental noncash disclosures: Transfers from loans to real estate owned $ 48 $ 230

BASIS OF PRESENTATION (Detail T

BASIS OF PRESENTATION (Detail Textuals)	Dec. 31, 2018
Basis Of Presentation
Percentage of ownership in the entity	72.28%

EARNINGS PER SHARE (Detail Text

EARNINGS PER SHARE (Detail Textuals) - shares	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Antidilutive shares	22,400	0

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Earnings per share
Net income/(loss)	$ 947	$ (59)	$ 1,831	$ 798
Less: distributed earnings allocated to participating securities	(1)	(2)	(3)	(4)
Less: (undistributed income) dividends in excess of earnings allocated to participating securities	(2)	2	(2)	1
Net earnings/(loss) available to common shareholders	$ 944	$ (59)	$ 1,826	$ 795
Weighted average common shares outstanding including participating securities	5,762,678	5,786,109	5,768,419	5,797,217
Less: participating securities	(15,355)	(21,910)	(15,355)	(21,910)
Less: average unearned ESOP shares	(61,926)	(70,950)	(55,760)	(77,480)
Weighted average common shares outstanding	5,685,397	5,693,249	5,697,304	5,697,827
Basic earnings/(loss) per share (in dollars per share)	$ 0.17	$ (0.01)	$ 0.32	$ 0.14
Weighted average common shares outstanding	5,685,397	5,693,249	5,697,304	5,697,827
Add: dilutive effects of assumed exercises of stock options	119,788	130,658	123,711	127,844
Average shares and dilutive potential common shares	5,805,185	5,823,907	5,821,015	5,825,671
Diluted earnings/(loss) per share (in dollars per share)	$ 0.16	$ (0.01)	$ 0.31	$ 0.14

SECURITIES AVAILABLE-FOR-SALE_2

SECURITIES AVAILABLE-FOR-SALE (Detail Textuals) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Securities pledged to secure public deposits	$ 69,117		$ 42,098
Percentage holdings of securities greater than shareholders' equity	10.00%		10.00%
Tax provision related to net realized gains	$ 1	$ 2

SECURITIES AVAILABLE-FOR-SALE_3

SECURITIES AVAILABLE-FOR-SALE (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Available-for-sale:
Amortized Cost	$ 111,843	$ 118,345
Gross Unrealized Gains	104	131
Gross Unrealized Losses	(2,447)	(3,330)
Fair Value	109,500	115,146
FHLMC Common Stock [Member]
Available-for-sale:
Amortized Cost	20	20
Gross Unrealized Gains	66	109
Fair Value	86	129
Certificates of Deposit [Member]
Available-for-sale:
Amortized Cost	4,739	5,485
Gross Unrealized Losses	(90)	(94)
Fair Value	4,649	5,391
Municipal Securities [Member]
Available-for-sale:
Amortized Cost	42,020	43,393
Gross Unrealized Gains	25	14
Gross Unrealized Losses	(880)	(1,069)
Fair Value	41,165	42,338
SBA Loan Pools [Member]
Available-for-sale:
Amortized Cost	47	401
Gross Unrealized Gains	1	2
Fair Value	48	403
Collateralized Mortgage Obligations [Member]
Available-for-sale:
Amortized Cost	9,514	10,529
Gross Unrealized Losses	(276)	(445)
Fair Value	9,238	10,084
US Government Agency Mortgage-Backed Securities [Member]
Available-for-sale:
Amortized Cost	41,484	44,490
Gross Unrealized Gains	12	6
Gross Unrealized Losses	(844)	(1,206)
Fair Value	40,652	43,290
U.S. Government Agency Bonds [Member]
Available-for-sale:
Amortized Cost	14,019	14,027
Gross Unrealized Losses	(357)	(516)
Fair Value	$ 13,662	$ 13,511

SECURITIES AVAILABLE-FOR-SALE_4

SECURITIES AVAILABLE-FOR-SALE (Details 1) $ in Thousands		Dec. 31, 2018USD ($)Number	Jun. 30, 2018USD ($)Number
Investment Holdings [Line Items]
Less than 12 Months, Fair Value		$ 20,241	$ 71,816
Less than 12 Months, Unrealized Loss		$ (173)	$ (1,669)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	52	149
12 Months or More, Fair Value		$ 82,505	$ 38,148
12 Months or More, Unrealized Loss		$ (2,274)	$ (1,661)
12 Months or More, Number in Unrealized Loss | Number	[1]	148	59
Total, Fair Value		$ 102,746	$ 109,964
Total, Unrealized Loss		$ (2,447)	$ (3,330)
Total, Number in Unrealized Loss | Number	[1]	200	208
Certificates of Deposit [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value		$ 1,965	$ 5,391
Less than 12 Months, Unrealized Loss		$ (31)	$ (94)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	8	22
12 Months or More, Fair Value		$ 2,684
12 Months or More, Unrealized Loss		$ (59)
12 Months or More, Number in Unrealized Loss | Number		11
Total, Fair Value		$ 4,649	$ 5,391
Total, Unrealized Loss		$ (90)	$ (94)
Total, Number in Unrealized Loss | Number	[1]	19	22
Municipal Securities [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value		$ 10,926	$ 28,305
Less than 12 Months, Unrealized Loss		$ (98)	$ (587)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	32	75
12 Months or More, Fair Value		$ 26,348	$ 10,789
12 Months or More, Unrealized Loss		$ (782)	$ (482)
12 Months or More, Number in Unrealized Loss | Number	[1]	63	25
Total, Fair Value		$ 37,274	$ 39,094
Total, Unrealized Loss		$ (880)	$ (1,069)
Total, Number in Unrealized Loss | Number	[1]	95	100
Collateralized Mortgage Obligations [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value			$ 1,334
Less than 12 Months, Unrealized Loss			$ (38)
Less than 12 Months, Number in Unrealized Loss | Number	[1]		2
12 Months or More, Fair Value		$ 9,238	$ 8,750
12 Months or More, Unrealized Loss		$ (276)	$ (407)
12 Months or More, Number in Unrealized Loss | Number	[1]	16	14
Total, Fair Value		$ 9,238	$ 10,084
Total, Unrealized Loss		$ (276)	$ (445)
Total, Number in Unrealized Loss | Number	[1]	16	16
US Government Agency Mortgage-Backed Securities [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value		$ 7,350	$ 30,997
Less than 12 Months, Unrealized Loss		$ (44)	$ (773)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	12	43
12 Months or More, Fair Value		$ 32,000	$ 10,887
12 Months or More, Unrealized Loss		$ (800)	$ (433)
12 Months or More, Number in Unrealized Loss | Number	[1]	45	13
Total, Fair Value		$ 39,350	$ 41,884
Total, Unrealized Loss		$ (844)	$ (1,206)
Total, Number in Unrealized Loss | Number	[1]	57	56
U.S. Government Agency Bonds [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value			$ 5,789
Less than 12 Months, Unrealized Loss			$ (177)
Less than 12 Months, Number in Unrealized Loss | Number	[1]		7
12 Months or More, Fair Value		$ 12,235	$ 7,722
12 Months or More, Unrealized Loss		$ (357)	$ (339)
12 Months or More, Number in Unrealized Loss | Number	[1]	13	7
Total, Fair Value		$ 12,235	$ 13,511
Total, Unrealized Loss		$ (357)	$ (516)
Total, Number in Unrealized Loss | Number	[1]	13	14
[1]	Actual amounts.

SECURITIES AVAILABLE-FOR-SALE_5

SECURITIES AVAILABLE-FOR-SALE (Details 2) - USD ($) $ in Thousands		Dec. 31, 2018	Jun. 30, 2018
Amortized Cost
Less than one year		$ 3,245	$ 1,004
Due from one to five years		21,602	19,415
Due after five years to ten years		26,685	33,186
Due after ten years		9,293	9,701
Mortgage-backed securities, CMOs and FHLMC stock	[1]	51,018	55,039
Total available for sale		111,843	118,345
Fair Value
Less than one year		3,216	1,003
Due from one to five years		21,218	19,049
Due after five years to ten years		26,104	32,230
Due after ten years		8,986	9,361
Mortgage-backed securities, CMOs and FHLMC stock	[1]	49,976	53,503
Total available for sale		$ 109,500	$ 115,146
[1]	Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. FHLMC common stock is not scheduled because it has no contractual maturity date.

SECURITIES AVAILABLE-FOR-SALE_6

SECURITIES AVAILABLE-FOR-SALE (Details 3) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Available-for-sale:
Proceeds	$ 1,193	$ 3,997
Gross gains	3	11
Gross losses	$ (2)	$ (1)

LOANS (Detail Textuals)

LOANS (Detail Textuals) $ in Thousands	6 Months Ended
	Dec. 31, 2018USD ($)Number	Jun. 30, 2018USD ($)Number
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for loan losses | $	$ 2,423	$ 2,521
Recorded investment in troubled debt restructuring | $	$ 3,082	$ 3,016
Real Estate Loans [Member] | One to Four Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans	5	5
Consumer mortgage loans secured by residential real estate properties in formal foreclosure proceedings | $	$ 796
Real Estate Loans [Member] | Nonresidential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans	2	2
Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans	1	2
Real Estate Loans [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans	1	1

LOANS (Details)

LOANS (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Total loans	$ 356,844	$ 327,758
Real Estate Loans [Member]
Total loans	350,238	321,893
Real Estate Loans [Member] | One to Four Family [Member]
Total loans	284,569	269,868
Real Estate Loans [Member] | Multi Family [Member]
Total loans	1,677	1,735
Real Estate Loans [Member] | Home Equity [Member]
Total loans	4,304	3,914
Real Estate Loans [Member] | Nonresidential [Member]
Total loans	23,442	17,591
Real Estate Loans [Member] | Agricultural [Member]
Total loans	1,199	1,272
Real Estate Loans [Member] | Construction and Land [Member]
Total loans	35,047	27,513
Commercial and Industrial [Member]
Total loans	1,296	326
Consumer and Other Loans [Member]
Total loans	$ 5,310	$ 5,539

LOANS (Details 1)

LOANS (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Change in allowance for loan losses during the period
Beginning Balance	$ 1,151	$ 1,024	$ 1,097	$ 1,016
Provision	76	9	148	56
Charge-offs		(1)	(18)	(40)
Ending Balance	1,227	1,032	1,227	1,032
Real Estate Loans [Member]
Change in allowance for loan losses during the period
Beginning Balance	1,141	1,012	1,092	1,005
Provision	65	17	132	62
Charge-offs		(1)	(18)	(39)
Ending Balance	1,206	1,028	1,206	1,028
Real Estate Loans [Member] | One to Four Family [Member]
Change in allowance for loan losses during the period
Beginning Balance	956	889	939	900
Provision	29	(1)	64	(12)
Charge-offs			(18)
Ending Balance	985	888	985	888
Real Estate Loans [Member] | Multi Family [Member]
Change in allowance for loan losses during the period
Beginning Balance	4	4	4	4
Ending Balance	4	4	4	4
Real Estate Loans [Member] | Home Equity [Member]
Change in allowance for loan losses during the period
Beginning Balance	13	3	8	2
Provision	2	1	7	15
Charge-offs				(13)
Ending Balance	15	4	15	4
Real Estate Loans [Member] | Nonresidential [Member]
Change in allowance for loan losses during the period
Beginning Balance	69	60	66	63
Provision	35	(1)	38	(4)
Ending Balance	104	59	104	59
Real Estate Loans [Member] | Agricultural [Member]
Change in allowance for loan losses during the period
Beginning Balance	1	1	1	1
Provision		(1)		(1)
Ending Balance	1		1
Real Estate Loans [Member] | Construction and Land [Member]
Change in allowance for loan losses during the period
Beginning Balance	98	55	74	35
Provision	(1)	19	23	64
Charge-offs		(1)		(26)
Ending Balance	97	73	97	73
Commercial and Industrial [Member]
Change in allowance for loan losses during the period
Beginning Balance	3	6	4	4
Provision	15	(2)	14
Ending Balance	18	4	18	4
Consumer and Other Loans [Member]
Change in allowance for loan losses during the period
Beginning Balance	7	6	1	7
Provision	(4)	$ (6)	2	(6)
Charge-offs				$ (1)
Ending Balance	$ 3		$ 3

LOANS (Details 2)

LOANS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Ending Allowance on Loans:
Collectively Evaluated for Impairment	$ 1,227	$ 1,097
Loans:
Individually Evaluated for Impairment	3,424	3,529
Collectively Evaluated for Impairment	353,420	324,229
Consumer and Other Loans [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	3	1
Loans:
Collectively Evaluated for Impairment	5,310	5,539
Commercial and Industrial [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	18	4
Loans:
Collectively Evaluated for Impairment	1,296	326
Real Estate Loans [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	1,206	1,092
Loans:
Individually Evaluated for Impairment	3,424	3,529
Collectively Evaluated for Impairment	346,814	318,364
Real Estate Loans [Member] | Construction and Land [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	97	74
Loans:
Collectively Evaluated for Impairment	35,047	27,513
Real Estate Loans [Member] | Agricultural [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	1	1
Loans:
Individually Evaluated for Impairment	413	424
Collectively Evaluated for Impairment	786	848
Real Estate Loans [Member] | Nonresidential [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	104	66
Loans:
Individually Evaluated for Impairment	642	671
Collectively Evaluated for Impairment	22,800	16,920
Real Estate Loans [Member] | Home Equity [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	15	8
Loans:
Collectively Evaluated for Impairment	4,304	3,914
Real Estate Loans [Member] | Multi Family [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	4	4
Loans:
Collectively Evaluated for Impairment	1,677	1,735
Real Estate Loans [Member] | One to Four Family [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	985	939
Loans:
Individually Evaluated for Impairment	2,369	2,434
Collectively Evaluated for Impairment	$ 282,200	$ 267,434

LOANS (Details 3)

LOANS (Details 3) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2018
With no recorded allowance:
Unpaid Principal Balance	$ 4,082	$ 4,195
Recorded Investment	3,424	3,529
Average Recorded Investment	3,478	3,154
Interest Income Recognized		77
With recorded allowance:
Average Recorded Investment		484
Total:
Unpaid Principal Balance	4,082	4,195
Recorded Investment	3,424	3,529
Average Recorded Investment	3,478	3,638
Interest Income Recognized		77
Real Estate Loans [Member]
With no recorded allowance:
Unpaid Principal Balance	4,082	4,195
Recorded Investment	3,424	3,529
Average Recorded Investment	3,478	3,154
Interest Income Recognized		77
With recorded allowance:
Average Recorded Investment		484
Total:
Unpaid Principal Balance	4,082	4,195
Recorded Investment	3,424	3,529
Average Recorded Investment	3,478	3,638
Interest Income Recognized		77
Real Estate Loans [Member] | One to Four Family [Member]
With no recorded allowance:
Unpaid Principal Balance	2,443	2,516
Recorded Investment	2,369	2,434
Average Recorded Investment	2,402	2,251
Interest Income Recognized		67
With recorded allowance:
Average Recorded Investment		484
Real Estate Loans [Member] | Nonresidential [Member]
With no recorded allowance:
Unpaid Principal Balance	677	707
Recorded Investment	642	671
Average Recorded Investment	657	336
Interest Income Recognized		3
Real Estate Loans [Member] | Agricultural [Member]
With no recorded allowance:
Unpaid Principal Balance	962	972
Recorded Investment	413	424
Average Recorded Investment	$ 419	436
Interest Income Recognized		7
Real Estate Loans [Member] | Construction and Land [Member]
With no recorded allowance:
Average Recorded Investment		$ 131

LOANS (Details 4)

LOANS (Details 4) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 10,354	$ 9,157
Current	346,490	318,601
Total loans	356,844	327,758
Nonaccrual loans	4,604	5,382
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,301	937
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,307	2,508
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6,746	5,712
Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	10,353	9,157
Current	339,885	312,736
Total loans	350,238	321,893
Nonaccrual loans	4,604	5,381
Real Estate Loans [Member] | Home Equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	245	230
Current	4,059	3,684
Total loans	4,304	3,914
Nonaccrual loans	124	40
Real Estate Loans [Member] | One to Four Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	8,948	7,864
Current	275,621	262,004
Total loans	284,569	269,868
Nonaccrual loans	3,005	3,969
Real Estate Loans [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	75	84
Current	34,972	27,429
Total loans	35,047	27,513
Nonaccrual loans	40	19
Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	413	424
Current	786	848
Total loans	1,199	1,272
Nonaccrual loans	413	445
Real Estate Loans [Member] | Nonresidential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	672	555
Current	22,770	17,036
Total loans	23,442	17,591
Nonaccrual loans	1,022	908
Real Estate Loans [Member] | Multi Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,677	1,735
Total loans	1,677	1,735
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,301	937
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	124	40
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One to Four Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	591	897
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Agricultural [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	413
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Nonresidential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	158
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction And Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	15
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,307	2,508
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		84
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,089	1,787
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	33	34
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Agricultural [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		424
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Nonresidential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	185	179
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6,745	5,712
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	121	106
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6,268	5,180
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	27	50
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Nonresidential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	329	376
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,296	326
Total loans	1,296	326
Consumer and Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1
Current	5,309	5,539
Total loans	5,310	5,539
Nonaccrual loans		$ 1
Consumer and Other Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1

LOANS (Details 5)

LOANS (Details 5) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 356,844	$ 327,758
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,393	8,627
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,868	4,998
Pass Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,200	8,284
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	335,383	5,051
Consumer and Other Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	5,310	5,539
Consumer and Other Loans [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	5,310	305,849
Real Estate Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	350,238	321,893
Real Estate Loans [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,393	8,627
Real Estate Loans [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,868	4,998
Real Estate Loans [Member] | Pass Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,200	8,284
Real Estate Loans [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	328,777	326
Real Estate Loans [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	35,047	27,513
Real Estate Loans [Member] | Construction and Land [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	82	76
Real Estate Loans [Member] | Construction and Land [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	111	115
Real Estate Loans [Member] | Construction and Land [Member] | Pass Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	750	26,551
Real Estate Loans [Member] | Construction and Land [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	34,104	299,984
Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,199	1,272
Real Estate Loans [Member] | Agricultural [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	413	445
Real Estate Loans [Member] | Agricultural [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	255	261
Real Estate Loans [Member] | Agricultural [Member] | Pass Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	337	771
Real Estate Loans [Member] | Agricultural [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	194	217
Real Estate Loans [Member] | Nonresidential [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	23,442	17,591
Real Estate Loans [Member] | Nonresidential [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,129	1,184
Real Estate Loans [Member] | Nonresidential [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,117	1,143
Real Estate Loans [Member] | Nonresidential [Member] | Pass Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,747	349
Real Estate Loans [Member] | Nonresidential [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	19,449	13,462
Real Estate Loans [Member] | Home Equity [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,304	3,914
Real Estate Loans [Member] | Home Equity [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	172	176
Real Estate Loans [Member] | Home Equity [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	125	129
Real Estate Loans [Member] | Home Equity [Member] | Pass Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	340	1,802
Real Estate Loans [Member] | Home Equity [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	3,667	3,298
Real Estate Loans [Member] | One to Four Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	284,569	269,868
Real Estate Loans [Member] | One to Four Family [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	6,597	6,746
Real Estate Loans [Member] | One to Four Family [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	3,260	3,350
Real Estate Loans [Member] | One to Four Family [Member] | Pass Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	5,026	311
Real Estate Loans [Member] | One to Four Family [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	269,686	254,721
Real Estate Loans [Member] | Multi Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,677	1,735
Real Estate Loans [Member] | Multi Family [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,677	1,735
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,296	326
Commercial and Industrial [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 1,296	$ 5,539

BORROWINGS (Detail Textuals)

BORROWINGS (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Banking and Thrift [Abstract]
FHLB Advances	$ 32,500	$ 14,500
Stated percentage of Federal Home Loan Bank Advances	2.64%	2.14%
Federal Home Loan Bank with remaining availability	$ 124,665

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
FHLB Advances	$ 32,500	$ 14,500
Stated percentage of Federal Home Loan Bank Advances	2.64%	2.14%
Minimum [Member]
Stated percentage of Federal Home Loan Bank Advances	2.47%	2.09%
Maximum [Member]
Stated percentage of Federal Home Loan Bank Advances	2.78%	2.23%

BORROWINGS (Details 1)

BORROWINGS (Details 1) $ in Thousands	Dec. 31, 2018USD ($)
Banking and Thrift [Abstract]
2,019	$ 32,500

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Carrying value of real estate owned	$ 823	$ 1,074

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017
Financial assets:
Securities available-for-sale	$ 109,500		$ 115,146
Loan servicing rights	1,017	$ 1,050	1,093	$ 1,024	$ 1,089	$ 1,141
Level 2 [Member]
Financial assets:
Securities available-for-sale	109,500		115,146
FHLMC Common Stock [Member]
Financial assets:
Securities available-for-sale	86		129
Certificates of Deposit [Member]
Financial assets:
Securities available-for-sale	4,649		5,391
Municipal Securities [Member]
Financial assets:
Securities available-for-sale	41,165		42,338
SBA Loan Pools [Member]
Financial assets:
Securities available-for-sale	48		403
Collateralized Mortgage Obligations [Member]
Financial assets:
Securities available-for-sale	9,238		10,084
US Government Agency Mortgage-Backed Securities [Member]
Financial assets:
Securities available-for-sale	40,652		43,290
U.S. Government Agency Bonds [Member]
Financial assets:
Securities available-for-sale	13,662		13,511
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Financial assets:
Securities available-for-sale	109,500		115,146
Total financial assets	109,500		115,146
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Financial assets:
Loan servicing rights	1,017		1,093
Total financial assets	1,017		1,093
Fair Value, Measurements, Recurring [Member] | FHLMC Common Stock [Member] | Level 2 [Member]
Financial assets:
Securities available-for-sale	86		129
Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | Level 2 [Member]
Financial assets:
Securities available-for-sale	4,649		5,391
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 2 [Member]
Financial assets:
Securities available-for-sale	41,165		42,338
Fair Value, Measurements, Recurring [Member] | SBA Loan Pools [Member] | Level 2 [Member]
Financial assets:
Securities available-for-sale	48		403
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Level 2 [Member]
Financial assets:
Securities available-for-sale	9,238		10,084
Fair Value, Measurements, Recurring [Member] | US Government Agency Mortgage-Backed Securities [Member] | Level 2 [Member]
Financial assets:
Securities available-for-sale	40,652		43,290
Fair Value, Measurements, Recurring [Member] | U.S. Government Agency Bonds [Member] | Level 2 [Member]
Financial assets:
Securities available-for-sale	$ 13,662		$ 13,511

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 1) - Fair Value, Measurements, Nonrecurring [Member] - Level 3 [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total non-financial assets	$ 823	$ 1,074
Total assets measured at fair value on a non-recurring basis	823	1,074
One to Four Family [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate owned, net	89	91
Nonresidential [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate owned, net	464	$ 983
Construction And Land [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate owned, net	$ 270

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) - Fair Value, Measurements, Recurring [Member] - Level 3 [Member] - Loan Servicing Rights [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Balance at beginning of period:	$ 1,050	$ 1,089	$ 1,093	$ 1,141
Change in fair value	(33)	(65)	(76)	(117)
Balance at end of period:	$ 1,017	$ 1,024	$ 1,017	$ 1,024

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) - Level 3 [Member] - USD ($) $ in Thousands		Dec. 31, 2018	Jun. 30, 2018
Loan servicing rights		$ 1,017	$ 1,093
Impaired real estate loans net, with specific allocations	[1]	350,247	319,958
Fair Value, Measurements, Nonrecurring [Member] | Discounted Cash Flows [Member]
Loan servicing rights		1,017	1,093
Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | One to Four Family [Member]
Real estate owned		89	91
Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Nonresidential [Member]
Real estate owned		464	$ 983
Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Construction And Land [Member]
Real estate owned		$ 270
[1]	Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 3 classification.

FAIR VALUE OF FINANCIAL INSTR_8

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) - USD ($) $ in Thousands		Dec. 31, 2018	Jun. 30, 2018
Financial assets
Securities available-for-sale		$ 109,500	$ 115,146
Level 1 [Member]
Financial liabilities
Deposits		171,602	174,192
Level 2 [Member]
Financial assets
Securities available-for-sale		109,500	115,146
Financial liabilities
Deposits		215,435	208,967
FHLB Advances		32,405	14,494
Level 3 [Member]
Financial assets
Loans, net	[1]	350,247	319,958
Loans held for sale	[2]	154
Loan servicing rights		1,017	1,093
Carrying Amount [Member]
Financial assets
Securities available-for-sale		109,500	115,146
Loans, net	[1]	355,617	326,661
Loans held for sale	[2]	154
Loan servicing rights		1,017	1,093
Restricted equity securities		2,398	1,639
Financial liabilities
Deposits		393,949	387,588
FHLB Advances		32,500	14,500
Total Fair Value [Member]
Financial assets
Securities available-for-sale		109,500	115,146
Loans, net	[1]	350,247	319,958
Loans held for sale	[2]	154
Loan servicing rights		1,017	1,093
Financial liabilities
Deposits		387,037	383,159
FHLB Advances		$ 32,405	$ 14,494
[1]	Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 3 classification.
[2]	Carrying amount of loans is net of unearned income and the allowance. In accordance with the adoption of ASU No. 2016-01, the fair value of loans as of December 31, 2018 was measured using an exit price notion. The fair value of loans as of June 30, 2018 was measured using an entry price notion.

EMPLOYEE STOCK OWNERSHIP PLAN_2

EMPLOYEE STOCK OWNERSHIP PLAN (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee stock ownership plan, employer loan for shares (in shares)					248,842
Common stock share price (in dollars per share)					$ 10
ESOP compensation expense recognized	$ 155	$ 303	$ 225	$ 303

EMPLOYEE STOCK OWNERSHIP PLAN_3

EMPLOYEE STOCK OWNERSHIP PLAN (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Shares held by the ESOP
Committed to be released to participants	24,230	10,769
Allocated to participants	127,985	130,249
Unearned	46,180	77,672
Total ESOP shares	198,395	218,690
Fair value of unearned shares	$ 1,150	$ 2,333

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	Dec. 22, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Apr. 05, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price of common stock (in dollars per share)		$ 24.90		$ 24.90
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)						435,472
Employee and Directors Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)						311,052
Options earned (in shares)				8,070	4,035
Stock-based compensation expense		$ 11	$ 7	$ 21	$ 13
Total unrecognized compensation cost related to stock options		143		$ 143
Expected period for recognition				3 years 10 months 24 days
Employee and Directors Stock Options [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	22,400
Expiration period	7 years
Employee and Directors Stock Options [Member] | Minimum [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Employee and Directors Stock Options [Member] | Maximum [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	7 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		25	$ 25	$ 51	$ 51
Unrecognized compensation expense for nonvested restricted stock awards		$ 188		$ 188
Expected period for recognition				2 years 6 months
Restricted Stock [Member] | Minimum [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)						124,420
Restricted Stock [Member] | Maximum [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	7 years

STOCK BASED COMPENSATION (Det_2

STOCK BASED COMPENSATION (Details) - Employee and Directors Stock Options [Member] $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Options
Outstanding - June 30, 2018 (in shares)	241,209
Exercised (in shares)	(15,552)
Outstanding - September 30, 2018 (in shares)	225,657
Fully vested and exercisable at September 30, 2018 (in shares)	177,548
Expected to vest in future periods (in shares)	48,109
Fully vested and expected to vest - September 30, 2018 (in shares)	225,657
Weighted-Average Exercise Price/Share
Outstanding - June 30, 2018 (in dollars per share) | $ / shares	$ 14.18
Exercised (in dollars per share) | $ / shares	11.58
Outstanding - September 30, 2018 (in dollars per share) | $ / shares	14.36
Fully vested and exercisable at September 30, 2018 (in dollars per share) | $ / shares	12.39
Fully vested and expected to vest - September 30, 2018 (in dollars per share) | $ / shares	$ 14.36
Aggregate Intrinsic Value
Outstanding - June 30, 2018 | $	$ 2,379	[1]
Fully vested and exercisable at September 30, 2018 | $	2,221	[1]
Fully vested and expected to vest - September 30, 2018 | $	$ 2,379	[1]
[1]	The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The current market price was based on the closing price of common stock of $24.90 per share on December 31, 2018.

STOCK BASED COMPENSATION (Det_3

STOCK BASED COMPENSATION (Details 1) - Employee and Directors Stock Options [Member] - Weighted Average [Member]	6 Months Ended
	Dec. 31, 2018$ / shares
Weighted average assumptions
Risk-free interest rate (as a percent)	2.43%
Expected dividend yield (as a percent)	1.36%
Expected stock volatility (as a percent)	15.03%
Expected life (years)	8 years
Fair value (in dollars per share)	$ 5.41

STOCK BASED COMPENSATION (Det_4

STOCK BASED COMPENSATION (Details 2) - Restricted Stock [Member]	6 Months Ended
	Dec. 31, 2018$ / sharesshares
Non-vested stock activity
Balance - beginning of year (in shares)	15,355
Granted (in shares)	0
Forfeited (in shares)	0
Vested (in shares)	0
Balance - end of period (in shares)	15,355
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 13.09

LOAN SERVICING RIGHTS (Detail T

LOAN SERVICING RIGHTS (Detail Textuals) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2018
Servicing Assets at Fair Value [Line Items]
Discount rate	10.25%	9.63%
Weighted average default rate	0.40%	0.61%
Custodial escrow balances	$ 378		$ 799
Minimum [Member]
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	4.70%	5.20%
Maximum [Member]
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	13.70%	19.30%

LOAN SERVICING RIGHTS (Details)

LOAN SERVICING RIGHTS (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
US Government Agency Mortgage-Backed Securities [Member]
Mortgage loan portfolio serviced: FHLMC	$ 88,669	$ 94,779

LOAN SERVICING RIGHTS (Details

LOAN SERVICING RIGHTS (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Loan servicing rights:
Beginning of period:	$ 1,050	$ 1,089	$ 1,093	$ 1,141
Change in fair value	(33)	(65)	(43)	(52)
End of period:	$ 1,017	$ 1,024	$ 1,017	$ 1,024

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash paid during the period for:
Interest paid	$ 1,465	$ 785
Income taxes paid	218	328
Supplemental noncash disclosures:
Transfers from loans to real estate owned	$ 48	$ 230

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals) - $ / shares	Jan. 24, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Dividends declared per share (in dollars per share)		$ 0.1	$ 0.1	$ 0.2	$ 0.2
Subsequent Event [Member]
Dividends declared per share (in dollars per share)	$ 0.10
Dividends payable, date declared	Jan. 24, 2019
Dividends payable, date of record	Feb. 7, 2019
Dividends payable, date paid	Feb. 21, 2019