Oconee Federal Financial (OFED) 10-Q 15 May 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 31, 2015	15-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	Oconee Federal Financial Corp.
Entity Central Index Key	1501078
Trading Symbol	ofed
Current Fiscal Year End Date	-24
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,882,140
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
ASSETS
Cash and due from banks	$1,774	$1,365	[1]
Interest-bearing deposits	23,693	10,525	[1]
Total cash and cash equivalents	25,467	11,890	[1]
Securities available-for-sale	103,513	103,806	[1]
Loans	322,351	230,786	[1]
Allowance for loan losses	-869	-855	[1]
Net loans	321,482	229,931	[1]
Loans held for sale	733
Premises and equipment, net	7,073	2,993	[1]
Real estate owned, net	2,499	744	[1]
Accrued interest receivable
Loans	1,126	811	[1]
Investments	346	251	[1]
Restricted equity securities	440	325	[1]
Bank owned life insurance	8,978	8,758	[1]
Goodwill	2,870
Core deposit intangible	900
Loan servicing rights	1,319
Deferred tax assets	5,046	650	[1]
Other assets	909	342	[1]
Total assets	482,701	360,501	[1]
Deposits
Non-interest bearing	17,999	7,075	[1]
Interest bearing	382,778	273,940	[1]
Total deposits	400,777	281,015	[1]
Accrued interest payable and other liabilities	1,373	2,505	[1]
Total liabilities	402,150	283,520	[1]
SHAREHOLDERS' EQUITY
Common stock, $0.01 par value, 100,000,000 shares authorized; 5,882,140 and 5,834,395 shares outstanding, respectively	65	64	[1]
Treasury stock, at par 589,899 and 600,699 shares, respectively	-6	-6	[1]
Additional paid-in capital	13,238	12,186	[1]
Retained earnings	68,294	66,705	[1]
Accumulated other comprehensive income (loss)	557	-147	[1]
Unearned ESOP shares	-1,597	-1,821	[1]
Total shareholders' equity	80,551	76,981	[1]
Total liabilities and shareholders' equity	$482,701	$360,501	[1]
[1]	Derived from audited consolidated financial statements

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Mar. 31, 2015	Jun. 30, 2014
CONSOLIDATED BALANCE SHEETS
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	5,882,140	5,834,395
Treasury stock, shares	589,899	600,699

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Interest and dividend income:
Loans, including fees	$4,047	$2,820	$10,267	$8,542
Securities, taxable	404	388	1,155	1,139
Securities, tax-exempt	50	2	126	2
Interest-bearing deposits and other	16	11	39	40
Total interest income	4,517	3,221	11,587	9,723
Interest expense:
Deposits	309	345	932	1,156
Total interest expense	309	345	932	1,156
Net interest income	4,208	2,876	10,655	8,567
Provision for loan losses	7	41	16	82
Net interest income after provision for loan losses	4,201	2,835	10,639	8,485
Noninterest income:
Service charges on deposit accounts	111	19	211	56
Income on bank owned life insurance	82	50	221	203
Mortgage banking income	147		181
Gain on sales of securities	120	70	149	215
Gain (loss) on sales of real estate owned	27	3	63	-11
Other	-1	37	1	35
Total noninterest income	486	179	826	498
Noninterest expense:
Salaries and employee benefits	1,596	876	3,738	2,730
Occupancy and equipment	319	176	716	496
Data processing	135	71	309	200
Professional and supervisory fees	234	230	575	485
Office expense	109	80	196	109
Advertising	29	19	71	57
FDIC deposit insurance	78	40	154	118
Provision for real estate owned and related expenses	167	113	206	166
Other	214	68	408	270
Total noninterest expense	2,881	1,673	6,373	4,631
Income before income taxes	1,806	1,341	5,092	4,352
Income tax expense	610	486	1,825	1,567
Net income	1,196	855	3,267	2,785
Other comprehensive income (loss)
Unrealized gain on securities available-for-sale	993	854	1,280	87
Tax effect	-374	-325	-483	-33
Reclassification adjustment for gains realized in net income	-120	-70	-149	-215
Tax effect	45	27	56	82
Total other comprehensive gain (loss)	544	486	704	-79
Comprehensive income	$1,740	$1,341	$3,971	$2,706
Basic net income per share: (Note 2) (in dollars per share)	$0.21	$0.15	$0.58	$0.49
Diluted net income per share: (Note 2) (in dollars per share)	$0.21	$0.15	$0.57	$0.49
Dividends declared per share: (in dollars per share)	$0.10	$0.10	$0.30	$0.30

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (USD $)		Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (loss)	Unearned ESOP Shares	Total
In Thousands, unless otherwise specified
Balance at Jun. 30, 2013		$64	($5)	$13,413	$65,315	($559)	($2,066)	$76,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					2,785			2,785
Other comprehensive income (loss)						-79		-79
Transfers of securities from classified as held-to-maturity to available-for-sale						28		28
Purchase of 89,900 and 1,800 shares of treasury stock for March 31, 2014 and 2015 respectively	[1]		-1	-1,599				-1,600
Issuance of 12,600 shares of restricted stock	[2]
Stock-based compensation expense				184				184
Dividends	[3],[4]				-1,650			-1,650
ESOP shares earned	[4]			121	-14		198	305
Balance at Mar. 31, 2014		64	-6	12,119	66,436	-610	-1,868	76,135
Balance at Jun. 30, 2014		64	-6	12,186	66,705	-147	-1,821	76,981	[5]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					3,267			3,267
Other comprehensive income (loss)						704		704
Purchase of 89,900 and 1,800 shares of treasury stock for March 31, 2014 and 2015 respectively	[6]			-35				-35
Issuance of 12,600 shares of restricted stock	[7]
Stock-based compensation expense				203				203
Common stock issued, 36,945 shares	[8]	1		699				700
Dividends	[10],[9]			25	-1,678			-1,653
ESOP shares earned	[9]			160			224	384
Balance at Mar. 31, 2015		$65	($6)	$13,238	$68,294	$557	($1,597)	$80,551
[1]	The weighted average cost of treasury shares purchased during the nine months ended was $16.02 per share. Treasury stock repurchases were accounted for using the par value method.
[2]	On November 13, 2013, the Company granted 12,600 shares of restricted stock. The grant date fair value of these shares was $17.16.
[3]	Cash dividends declared on July 25, 2013 were paid on August 29, 2013. Cash dividends declared on October 24, 2013 were paid on November 21, 2013. Cash dividends declared on January 30, 2014 were paid on February 27, 2014.
[4]	Approximately $99 of cash dividends paid on shares in the ESOP was used as additional principal reduction on the ESOP debt, resulting in the release of approximately 8,000 additional shares. The portion of the dividend paid on allocated shares of approximately $14 was treated as a dividend. The remaining portion of the dividend payment and resulting release of approximately 7,000 shares was accounted for as additional compensation expense of approximately $63 for the nine months ended March 31, 2014.
[5]	Derived from audited consolidated financial statements
[6]	The weighted average cost of treasury shares purchased during the nine months ended was $19.81 per share. Treasury stock repurchases were accounted for using the par value method.
[7]	On January 25, 2015, the Company granted 12,600 shares of restricted stock. The grant date fair value of these shares was $20.01.
[8]	36,945 shares issued to Oconee MHC at approximately $18.95 per share for the acquisition of Stephens Federal Bank.
[9]	Approximately $99 of cash dividends paid on shares in the ESOP was used as additional principal reduction on the ESOP debt, resulting in the release of approximately 8,000 additional shares. The portion of the dividend paid on allocated shares of approximately $25 was treated as a dividend. The remaining portion of the dividend payment and resulting release of approximately 8,000 shares was accounted for as additional compensation expense of approximately $74 for the nine months ended March 31, 2015.
[10]	Cash dividends declared on July 24, 2014 were paid on August 21, 2014. Cash dividends declared on October 23, 2014 were paid on November 20, 2014. Cash dividends declared on January 29, 2015 were paid on February 26, 2015.

CONSOLIDATED_STATEMENTS_OF_CHA1

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parentheticals)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Purchase of treasury stock (in shares)	1,800	89,900
Issuance of restricted stock (in shares)	12,600	12,600
Common stock issued (in shares)	36,945

CONSOLIDATED_STATEMENTS_OF_CHA2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parentheticals 1) (USD $)	1 Months Ended	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Jan. 25, 2015	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock granted		12,600	12,600
Weighted average cost of treasury shares		$19.81	$16.02
Cash dividends on ESOP shares		$99	$99
Number of additional shares released		8,000	8,000
Dividend paid on allocated shares		25	14
Release of shares upon dividend payment		8,000	7,000
Additional compensation expense		$74	$63
Shares issued for acquisition		36,945
Shares issued price per share		$18.95
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock granted		12,600	12,600
Grant date fair value of restricted stock	$20.01	$13.15	$17.16
Weighted average cost of treasury shares

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Cash Flows From Operating Activities
Net income	$3,267		$2,785
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	16		82
Provision for real estate owned	112		87
Depreciation and amortization, net	782		681
Deferred loan fees, net	-3		16
Deferred income tax expense	18
(Gain) loss on sale of real estate owned	-63		11
Change in loan servicing asset	50
Gain on sales of securities	-149		-215
Mortgage loans originated for sale	-1,734
Mortgage loans sold	1,492
Gain on sales of mortgage loans	81
Increase in cash surrender value of bank owned life insurance	-221		-203
ESOP compensation expense	384		305
Stock based compensation expense	203		184
Net change in operating assets and liabilities:
Accrued interest receivable	-34		-29
Accrued interest payable			-2
Other	-1,403		-462
Net cash provided by operating activities	2,798		3,240
Cash Flows From Investing Activities
Net cash received from acquisition of Stephens Federal	24,079
Purchases of premises and equipment	-340		-134
Purchases of securities held-to-maturity			-3,486
Purchases of securities available-for-sale	-23,009		-28,553
Proceeds from maturities, paydowns and calls of securities available-for-sale	14,654		10,402
Proceeds from maturities, paydowns and calls of securities held-to-maturity
Proceeds from sales of securities available-for-sale	11,025		14,278
Redemptions of restricted equity securities	27		129
Proceeds from sale of securities held-to-maturity			2,270
Proceeds from sale of real estate owned	1,750		197
Loan originations and repayments, net	3,732		-4,485
Net cash provided by (used in) investing activities	31,918		-9,382
Cash Flows from Financing Activities
Net change in deposits	-19,451		-10,026
Dividends paid	-1,653		-1,650
Purchase of treasury stock	-35		-1,600
Net cash used in financing activities	-21,139		-13,276
Change in cash and cash equivalents	13,577		-19,418
Cash and cash equivalents, beginning of year	11,890	[1]	37,942
Cash and cash equivalents, end of period	$25,467		$18,524
[1]	Derived from audited consolidated financial statements

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2015
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 (70.80%) by Oconee Federal, MHC. These financial statements do not include the transactions and balances of Oconee Federal, MHC. On December 1, 2014, the Company completed its acquisition of Stephens Federal Bank. The consolidated financial statements include the results of operations of Stephen Federal Bank since the acquisition date.
	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 March 31, 2015 and June 30, 2014 and the results of operations and cash flows for the interim periods ended March 31, 2015 and 2014. 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. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Form 10-K Annual Report of Oconee Federal Financial Corp. for the year ended June 30, 2014.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES		-2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Loans Held for Sale: Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans held for sale, for which the fair value option has been elected, are recorded at fair value as of each balance sheet date. The fair value includes the servicing value of the loans as well as any accrued interest.
	Mortgage loans held for sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold.
	Purchased Credit Impaired Loans: The Company purchases individual loans and groups of loans, some of which have shown evidence of credit deterioration since origination. These purchased credit impaired loans are recorded at the amount paid, such that there is no carryover of the seller’s allowance for loan losses. After acquisition, losses are recognized by an increase in the allowance for loan losses. Purchased credit impaired loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each loan, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan (accretable yield). The excess of the loans’ contractual principal and interest over expected cash flows is not recorded (nonaccretable difference).
	Over the life of the loans expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income.
	Purchased Performing Loans: The Company accounts for purchased performing loans at acquisition at fair value, which includes a credit discount. The resulting fair value (premium/discount) is amortized/accreted on a level yield basis over the estimated lives of the loans. There is no allowance for loan losses established for purchased performing loans, however a provision for loan losses is recorded for any further deterioration in these loans subsequent to the acquisition.
	Loan servicing rights: When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income.
	Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports changes in fair value of servicing assets in earnings in the period in which the changes occur, and are included with mortgage banking income on the Consolidated Statements of Income and Comprehensive Income. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses.
	Goodwill and Core Deposit Intangible: Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill acquired in a purchase business combination is not amortized, but tested for impairment at least annually or more frequently if events and circumstances exists that indicate that a goodwill impairment test should be performed. Goodwill will be tested for impairment as of April 1, 2016 and annually thereafter on each fiscal year ended date, unless evidence exists to warrant more frequent testing.
	Core deposit intangibles represent the estimated value of long-term deposit core deposit relationships acquired in a business combination. This value is amortized over the weighted-average estimated useful lives of deposit accounts using a method that we believe reasonably approximates the anticipated benefit stream from this intangible. The estimated useful lives are periodically reviewed for reasonableness. The core deposit intangible acquired will be amortized over 15 years using the original projections of future benefit stream of cash flows, adjusted periodically, if needed for potential impairment of the remaining unamortized balance of the core deposit intangible.
	The fair value of the core deposit intangible at the acquisition date of December 1, 2014 was $959. Amortization expense of $44 and $59 was recognized for the three and nine months ended March 31, 2015. The remaining carrying amount of the core deposit intangible, net of accumulated amortization of $59 was $900.
	Derivative Instruments and Hedging: The Company recognizes all derivatives as either assets or liabilities in the balance sheet, and measures those instruments at fair value. Changes in the fair value of those derivatives are reported in current earnings or other comprehensive income depending on the purpose for which the derivative is held and whether the derivative qualifies for hedge accounting. Loan commitments related to the origination or acquisition of mortgage loans that will be held for sale must be accounted for as derivative instruments. The Company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (rate lock commitments). The Company also enters into forward sales commitments for the mortgage loans underlying the rate lock commitments. The fair values of these two derivative financial instruments are collectively insignificant to the consolidated financial statements.
	Reclassifications: Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation.

ACQUISITION

ACQUISITION	9 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
ACQUISITION	-3	ACQUISITION
	On December 1, 2014, the Company and its parent company, Oconee Federal, MHC (“Oconee MHC”), completed the acquisition of Stephens Federal Bank (“Stephens Federal”). The acquisition was consummated in accordance with the Agreement and Plan of Merger by and among the Company, Oconee MHC, Oconee Federal and Stephens Federal dated February 26, 2014, as amended on May 6, 2014 (the “Merger Agreement”), pursuant to which Stephens Federal merged with and into the Association, with the Association as the surviving institution.
	Pursuant to the terms of the Merger Agreement, Stephens Federal completed a voluntary supervisory conversion from a federally chartered mutual savings association to a federally chartered stock savings association immediately prior to the merger with the Association. Accordingly, no consideration was paid by the Association or the Company in connection with the acquisition of Stephens Federal; however, upon completion of the acquisition, the Company issued 36,945 shares of Company common stock to Oconee MHC, which is equal to the quotient of (i) the valuation of Stephens Federal, which was $700, as determined by an independent third party, divided by (ii) the average closing price of the Company’s common stock as reported on the NASDAQ for the 20 consecutive trading days ending on the third trading day preceding the effective date of the acquisition, or approximately $18.95 per share, rounded.
	A summary of assets received and liabilities assumed for Stephens Federal, as well as the initial, December 1, 2014, and subsequent fair value adjustments at March 31, 2015, are as follows:
			As Recorded				Initial Fair				Subsequent				As Recorded
			by Stephens				Value and				Fair Value and				by the
			Federal				Other				Other				Company
							Adjustments				Adjustments
	Consideration
	Common stock at $18.95 per share, 36,945 shares										$	-			$	700
	Assets
	Cash and cash equivalents		$	24,079			$	-			$	-			$	24,079
	Securities available-for-sale			2,720				-				-				2,720
	Loans			103,166				(6,742	)	-1		(965	)	-7		95,459
	Mortgage loans held for sale			572				-				-				572
	Premises and equipment, net			5,308				(1,324	)	-2		-				3,984
	Real estate owned, net			6,198				(2,806	)	-3		-				3,392
	Accrued interest receivable			376				-				-				376
	Restricted equity securities			143				-				-				143
	Core deposit intangible			-				-				959		-8		959
	Loan servicing rights			1,409				(40	)	-4		-				1,369
	Other assets			141				4,091		-5		700		-9		4,932
	Total assets acquired		$	144,112			$	(6,821	)			694				137,985
	Liabilities
	Deposits		$	139,160			$	54		-6	$	-			$	139,214
	Other liabilities			1,035				-				(94	)	-10		941
	Total liabilities assumed		$	140,195			$	54				(94	)			140,155
	Net liabilities assumed											788				(2,170	)
	Goodwill										$	(788	)	-11	$	2,870
	Explanation of fair value adjustments:
		-1	The net fair value adjustment includes a total gross fair value adjustment of $8,892 to the unpaid principle balances of loans acquired, net of the existing allowance of $1,979, and deferred loans fees of $171. The gross fair value adjustment includes both credit, interest and liquidity components that comprise the entire discount. The fair value adjustment related to PCI loans was $6,676, and the fair value adjustment on purchased performing loans was $2,216. Based on an evaluation of the expected future cash flows for PCI loans, the accretable difference expected to be recognized into income as a yield adjustment on loans was $642. The entire discount on purchased performing loans will be accreted to income on a level-yield basis over each loan’s contractual life.
		-2	Premises and equipment were adjusted to reflect recently appraised values of the land and buildings for each branch acquired and the Company’s estimates of the fair value of furniture, fixtures and equipment.
		-3	The net adjustment reflects the fair value of real estate properties, less estimated costs to sell.
		-4	The adjustment reflects the fair value of loan servicing rights based upon the net present value of future servicing cash flows net of costs.
		-5	Represents adjustments in the net deferred tax assets resulting from the fair value adjustments related to the acquired assets and liabilities, identifiable intangibles and other deferred tax items. The fair value adjustment of the net deferred tax asset assumes an effective tax rate of approximately 36%.
		-6	The value adjustment to time deposits reflecting the differences in the contractual interest rates and those currently offered. The premium will be amortized into interest expense over a 3.7 year life using the straight line method.
		-7	Additional loans were identified as PCI, resulting in a net $578 increase in the fair value discount of those loans. Additionally, fair value estimates were updated on certain loans, increasing the fair value discount approximately $387.
		-8	The value for the core deposit intangible at December 1, 2014.
		-9	Change in other assets relate to changes in deferred taxes associated with the fair value discounts on PCI loans.
		-10	This adjustment represents an adjustment to amounts determined to be over accrued by Stephens Federal for FDIC premiums owed.
		-11	Changes to goodwill are a direct result of the adjustments to net assets acquired.
	The Company has determined the above noted acquisition constitutes a business combination as defined by generally accepted accounting principles. As such, the Company has recorded the assets purchased and liabilities assumed at their estimated fair values.
	The estimated fair values are subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair value becomes available. During this one year period, the causes of any changes in cash flow estimates are considered to determine whether the change results from circumstances that existed at the acquisition date or if the change results from an event that occurred after the date of acquisition.
	With this acquisition, the Company expanded its presence in the northeast corner of Georgia in Stephens and Rabun Counties through the addition of three branches, which enhances our ability to grow by expanding our footprint into these nearby counties. None of the goodwill associated with this acquisition is deductible for income tax purposes.
	The Company incurred transaction-related costs of $809, of which $103 and $238, respectively, were incurred in the three and nine months ended March 31, 2015. Transaction-related costs are expensed as incurred as a component of noninterest expense. Transaction-related costs primarily include professional services and data processing fees. Additionally, expenses related to systems conversions and other costs of integration are expected to be recorded throughout the remaining portion of our fiscal year 2015.
	The following table discloses the impact of the merger with Stephens Federal since the acquisition on December 1, 2014 through March 31, 2015. The table also presents certain pro forma information as if Stephens Federal had been acquired on July 1, 2014 or July 1, 2013. These results combine the historical results of Stephens Federal in the Company's Consolidated Statement of Income and Comprehensive Income and, while certain adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place on July 1, 2014 or July 1, 2013. Transaction-related costs as noted above are not included in the pro forma statements below. Additionally, the Company expects to achieve further operating cost savings as a result of the acquisition, which are not reflected in the pro forma amounts below:
		Actual from			Pro-forma for				Pro-forma for nine months
		acquisition date			three months				ended
		through March 31,			ended				March 31,
					March 31,
		2015			2014				2015			2014
	Net interest income	$	1,577		$	4,140			$	12,660		$	12,362
	Noninterest income		374			215				1,255			1,219
	Net income		404			1,229				4,161			3,553
	Net income available to common shareholders	$	404		$	1,217			$	4,117		$	4,482
	Pro-forma earnings per share:
	Basic				$	0.19			$	0.73		$	0.75
	Diluted				$	0.19			$	0.73		$	0.71

EARNINGS_PER_SHARE_EPS

EARNINGS PER SHARE ("EPS")	9 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE ("EPS")		-4	EARNINGS PER SHARE (“EPS”)
	Basic EPS is determined by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding for the period. ESOP shares are considered outstanding for this calculation unless unearned. The factors used in the earnings per common share computation follow:
			Three Months Ended						Nine Months Ended
			March 31,			March 31,			March 31,			March 31,
			2015			2014			2015			2014
	Earnings per share
	Net income		$	1,196		$	855		$	3,267		$	2,785
	Less: distributed earnings allocated to participating securities			(8	)		(8	)		(22	)		(25	)
	Less: (undistributed income) dividends in excess of earnings allocated to participating securities			(8	)		(4	)		(22	)		(17	)
	Net earnings available to common shareholders		$	1,180		$	843		$	3,223		$	2,743
	Weighted average common shares outstanding including participating securities			5,880,480			5,844,087			5,853,577			5,844,865
	Less: participating securities			(78,499	)		(83,695	)		(78,499	)		(83,695	)
	Less: average unearned ESOP shares			(161,110	)		(188,754	)		(170,051	)		(196,568	)
	Weighted average common shares outstanding			5,640,871			5,571,638			5,605,027			5,564,602
	Basic earnings per share		$	0.21		$	0.15		$	0.58		$	0.49
	Weighted average common shares outstanding			5,640,871			5,571,638			5,605,027			5,564,602
	Add: dilutive effects of assumed exercises of stock options			76,901			55,607			68,256			51,379
	Average shares and dilutive potential common shares			5,717,772			5,627,245			5,673,283			5,615,981
	Diluted earnings per share		$	0.21		$	0.15		$	0.57		$	0.49
	During the three and nine months ended March 31, 2015, 7,700 and 15,400 shares, respectively, were considered anti-dilutive. During the three and nine months ended March 31, 2014, 7,700 shares were considered anti-dilutive.

SECURITIES_AVAILABLEFORSALE_AN

SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY	9 Months Ended
	Mar. 31, 2015
SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY
SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY		-5	SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY
	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 March 31, 2015 and June 30, 2014 are as follows:
					Gross			Gross
			Amortized		Unrealized			Unrealized			Fair
	31-Mar-15		Cost		Gains			Losses			Value
	Available-for-sale:
	FHLMC common stock		$	20	$	165		$	-		$	185
	Certificates of deposit			6,225		35			(2	)		6,258
	Municipal securities			9,539		87			(25	)		9,601
	SBA loan pools			2,511		19			-			2,530
	U.S. Government agency mortgage-backed securities			61,428		804			(274	)		61,958
	U.S. Government agency bonds			22,899		129			(47	)		22,981
	Total available-for-sale		$	102,622	$	1,239		$	(348	)	$	103,513
					Gross			Gross
			Amortized		Unrealized			Unrealized			Fair
	30-Jun-14		Cost		Gains			Losses			Value
	Available-for-sale:
	FHLMC common stock		$	20	$	294		$	-		$	314
	Preferred stock (1)			271		27			-			298
	Certificates of deposit			7,221		24			(8	)		7,237
	Municipal securities			5,846		2			(39	)		5,809
	U.S. Government agency mortgage-backed securities			60,742		428			(730	)		60,440
	U.S. Government agency bonds			29,946		181			(419	)		29,708
	Total available-for-sale		$	104,046	$	956		$	(1,196	)	$	103,806
	(1) Consists of 300 shares of Southern First Bancshares, Inc. cumulative perpetual preferred stock, series T.
	Securities pledged at March 31, 2015 had a carrying amount of $5,972 and were pledged to secure public deposits. No securities were pledge at June 30, 2014.
	At March 31, 2015 and June 30, 2014, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, 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 more than twelve months at March 31, 2015 and June 30, 2014. The table also shows 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		Unrealized			Number in			Fair			Unrealized			Number in		Fair		Unrealized			Number in
			Value		Loss			Unrealized			Value			Loss			Unrealized		Value		Loss			Unrealized
								Loss (1)									Loss (1)							Loss (1)
	31-Mar-15
	Available-for-sale:
	Certificates of deposit		$	497	$	(1	)		2		$	248		$	(1	)		1	$	745	$	(2	)		3
	Municipal securities			2,370		(25	)		7			-			-			-		2,370		(25	)		7
	SBA loan pools			-		-			-			-			-			-		-		-			-
	U.S. Government agency mortgage-backed securities			6,117		(23	)		4			12,105			(251	)		12		18,222		(274	)		16
	U.S. Government agency bonds			-		-			-			6,947			(47	)		4		6,947		(47	)		4
			$	8,984	$	(49	)		13		$	19,300		$	(299	)		17	$	28,284	$	(348	)		30
			Less than 12 Months								12 Months or More								Total
			Fair		Unrealized			Number in			Fair			Unrealized			Number in		Fair		Unrealized			Number in
			Value		Loss			Unrealized			Value			Loss			Unrealized		Value		Loss			Unrealized
								Loss (1)									Loss (1)							Loss (1)
	30-Jun-14
	Available-for-sale:
	Certificates of deposit		$	1,237	$	(8	)		5		$	-		$	-			-	$	1,237	$	(8	)		5
	Municipal securities			4,263		(39	)		11			-			-			-		4,263		(39	)		11
	U.S. Government agency mortgage-backed securities			7,241		(24	)		6			21,464			(706	)		18		28,705		(730	)		24
	U.S. Government agency bonds			3,467		(5	)		3			12,574			(414	)		8		16,041		(419	)		11
			$	16,208	$	(76	)		25		$	34,038		$	(1,120	)		26	$	50,246	$	(1,196	)		51
		-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 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 the 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 March 31, 2015 were recognized into net income for the three and nine months ended March 31, 2015 because the issuer’s bonds are of high credit quality, management does not intend to sell and it is likely 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, 2014 were recognized as having OTTI during the three and nine months ended March 31, 2015.
	The amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2015 and June 30, 2014 by contractual maturity are summarized as follows:
			31-Mar-15					30-Jun-14
			Amortized		Fair			Amortized			Fair
			Cost		Value			Cost			Value
	Less than one year		$	3,748	$	3,772		$	4,002		$	4,029
	Due from one to five years			11,969		12,027			18,717			18,836
	Due from five to ten years			19,605		19,694			13,297			13,047
	Due after ten years			3,341		3,347			6,997			6,842
	Mortgage-backed securities			63,939		64,488			60,742			60,440
	Total		$	102,602	$	103,328		$	103,755		$	103,194
The following table presents the gross proceeds from sales of securities available-for-sale and held-to-maturity and gains or losses recognized for the three and nine months ended March 31, 2015 and 2014:
		Three Months Ended					Nine Months Ended
		March 31,		March 31,			March 31,			March 31,
		2015		2014			2015			2014
Available-for-sale:
Proceeds		$	4,604	$	3,420		$	11,025		$	14,278
Gross gains			120		70			149			163
Gross losses			-		-			-			(30	)
Held-to-maturity:
Proceeds			-		-			-			2,270
Gross gains			-		-			-			82
Gross losses			-		-			-			-
Total:
Proceeds		$	4,604	$	3,420		$	11,025		$	16,548
Gross gains		$	120	$	70		$	149		$	245
Gross losses		$	-	$	-		$	-		$	(30	)
During the nine months ended March 31, 2014, the Company sold two securities classified as held-to-maturity. One of those securities was a GNMA mortgage-backed security for which at least 85 percent of its original principal amount had been repaid. The second security was also a GNMA mortgage-backed security. Because the Company determined that it no longer had the positive intent to hold its investment in securities classified as held-to-maturity for an indefinite period of time because of the Company’s desire to have more flexibility in managing the investment portfolio, all of the Company’s securities classified as held-to-maturity were transferred to the available-for-sale category. The securities transferred had a total amortized cost of $7,800 and unrealized gross gains of $56 and unrealized gross losses of $11 at the time of transfer. The net unrealized gain of $45 was added to other comprehensive income at the time of transfer.

LOANS

LOANS	9 Months Ended
	Mar. 31, 2015
LOANS
LOANS		-6	LOANS
	The components of loans at March 31, 2015 and June 30, 2014 were as follows:
			March 31,			June 30,
			2015			2014
	Real estate loans:
	One-to-four family		$	265,810		$	214,735
	Multi-family			2,606			254
	Home equity			8,778			227
	Nonresidential			23,650			8,408
	Agricultural			4,178			-
	Construction and land			14,830			7,661
	Total real estate loans			319,852			231,285
	Commercial and industrial			920			-
	Consumer and other loans			2,822			747
	Total loans			323,594			232,032
	Deferred net loan fees			(1,243	)		(1,246	)
	Total loans net of deferred loan fees		$	322,351		$	230,786
	The following tables present the activity in the allowance for loan losses for the three and nine months ended March 31, 2015 by portfolio segment:
	Three Months Ended March 31, 2015		Beginning			Provision			Charge-offs			Recoveries			Ending
			Balance												Balance
	Real estate loans:
	One-to-four family		$	782		$	7		$	-		$	-		$	789
	Multi-family			4			-			-			-			4
	Home equity			1			-			-			-			1
	Nonresidential			50			(1	)		-			-			49
	Agricultural			-			-			-			-			-
	Construction and land			26			(1	)		-			-			25
	Total real estate loans			863			5			-			-			868
	Commercial and industrial			-			-			-			-			-
	Consumer and other loans			1			2			(2	)		-			1
	Total loans		$	864		$	7		$	(2	)	$	-		$	869
	Nine Months Ended March 31, 2015		Beginning			Provision			Charge-offs			Recoveries			Ending
			Balance												Balance
	Real estate loans:
	One-to-four family		$	736		$	53		$	-		$	-		$	789
	Multi-family			4			-			-			-			4
	Home equity			1			-			-			-			1
	Nonresidential			52			(3	)		-			-			49
	Agricultural			-			-			-			-			-
	Construction and land			59			(34	)		-			-			25
	Total real estate loans			852			16			-			-			868
	Commercial and industrial			-			-			-			-			-
	Consumer and other loans			3			-			(2	)		-			1
	Total loans		$	855		$	16		$	(2	)	$	-		$	869
	The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at March 31, 2015:
			Ending Allowance on Loans:						Loans:
	At March 31, 2015		Individually			Collectively			Individually			Collectively
			Evaluated for			Evaluated for			Evaluated for			Evaluated for
			Impairment			Impairment			Impairment			Impairment
	Real estate loans:
	One-to-four family		$	63		$	727		$	6,772		$	259,038
	Multi-family			-			4			-			2,606
	Home equity			-			1			160			8,618
	Nonresidential			3			46			2,852			20,798
	Agricultural			-			-			1,476			2,702
	Construction and land			-			24			808			14,022
	Total real estate loans			66			802			12,068			307,784
	Commercial and industrial			-			-			-			920
	Consumer and other loans			-			1			-			2,822
	Total loans		$	66		$	803		$	12,068		$	311,526
	The following tables present the activity in the allowance for loan losses for the three and nine months ended March 31, 2014 by portfolio segment:
	Three Months Ended March 31, 2014		Beginning			Provision			Charge-offs			Recoveries			Ending
			Balance												Balance
	Real estate loans:
One-to-four family		$	701		$	39		$	-		$	-		$	740
Multi-family			4			-			-			-			4
Home equity			1			-			-			-			1
Nonresidential			51			-			-			-			51
Agricultural			-			-			-			-			-
Construction and land			30			1			-			-			31
Total real estate loans			787			40			-			-			827
Commercial and industrial			-			-			-			-			-
Consumer and other loans			1			1			-			-			2
Total loans		$	788		$	41		$	-		$	-		$	829
Nine Months Ended March 31, 2014		Beginning			Provision			Charge-offs			Recoveries			Ending
		Balance												Balance
Real estate loans:
One-to-four family		$	665		$	79		$	(4	)	$	-		$	740
Multi-family			4			-			-			-			4
Home equity			1			-			-			-			1
Nonresidential			52			(1	)		-			-			51
Agricultural			-			-			-			-			-
Construction and land			27			4			-			-			31
Total real estate loans			749			82			(4	)		-			827
Commercial and industrial			-			-			-			-			-
Consumer and other loans			2			-			-			-			2
Total loans		$	751		$	82		$	(4	)	$	-		$	829
The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at March 31, 2014:
		Ending Allowance on Loans:						Loans:
At March 31, 2014		Individually			Collectively			Individually			Collectively
		Evaluated for			Evaluated for			Evaluated for			Evaluated for
		Impairment			Impairment			Impairment			Impairment
Real estate loans:
One-to-four family		$	81		$	659		$	2,470		$	205,331
Multi-family			-			4			-			253
Home equity			-			1			-			239
Nonresidential			-			51			-			8,567
Agricultural			-			-			-			-
Construction and land			-			31			-			9,997
Total real estate loans			81			746			2,470			224,387
Commercial and industrial			-			-			-			-
Consumer and other loans			-			2			-			683
Total loans		$	81		$	748		$	2,470		$	225,070
The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at June 30, 2014:
		Ending Allowance on Loans:						Loans:
At June 30, 2014		Individually			Collectively			Individually			Collectively
		Evaluated for			Evaluated for			Evaluated for			Evaluated for
		Impairment			Impairment			Impairment			Impairment
Real estate loans:
One-to-four family		$	52		$	684		$	1,647		$	213,088
Multi-family			-			4			-			254
Home equity			-			1			-			227
Nonresidential			-			52			-			8,408
Agricultural			-			-			-			-
Construction and land			-			59			-			7,661
Total real estate loans			52			800			1,647			229,638
Commercial and industrial			-			-			-			-
Consumer and other loans			-			3			-			747
Total loans		$	52		$	803		$	1,647		$	230,385
The tables below present loans that were individually evaluated for impairment by portfolio segment at March 31, 2015 and June 30, 2014, including the average recorded investment balance and interest earned for the nine months ended March 31, 2015 and year ended June 30, 2014:
		31-Mar-15
		Unpaid			Recorded			Related			Average			Interest
		Principal			Investment			Allowance			Recorded			Income
		Balance									Investment			Recognized
With no recorded allowance:
Real estate loans:
One-to-four family		$	7,414		$	6,008		$	-		$	3,191		$	59
Multi-family			-			-			-			-			-
Home equity			256			160			-			80			1
Nonresidential			3,836			1,931			-			966			26
Agricultural			2,912			1,476			-			738			25
Construction and land			1,473			809			-			405			14
Total real estate loans			15,891			10,384			-			5,380			125
Commercial and industrial			-			-			-			-			-
Consumer and other loans			-			-			-			-			-
Total		$	15,891		$	10,384		$	-		$	5,380		$	125
With recorded allowance:
Real estate loans:
One-to-four family		$	992		$	764		$	63		$	1,019		$	24
Multi-family			-			-			-			-			-
Home equity			-			-			-			-			-
Nonresidential			1,451			920			3			460			21
Agricultural			-			-			-			-			-
Construction and land			-			-			-			-			-
Total real estate loans			2,443			1,684			66			1,479			45
Commercial and industrial			-			-			-			-			-
Consumer and other loans			-			-			-			-			-
Total		$	2,443		$	1,684		$	66		$	1,479		$	45
Totals:
Real estate loans		$	18,334		$	12,068		$	66		$	6,859		$	172
Consumer and other loans			-			-			-			-			-
Total		$	18,334		$	12,068		$	66		$	6,859		$	172
		30-Jun-14
		Unpaid			Recorded			Related			Average			Interest
		Principal			Investment			Allowance			Recorded			Income
		Balance									Investment			Recognized
With no recorded allowance:
Real estate loans:
One-to-four family		$	374		$	374		$	-		$	1,054		$	8
Multi-family			-			-			-			-			-
Home equity			-			-			-			-			-
Nonresidential			-			-			-			-			-
Agricultural			-			-			-			-			-
Construction and land			-			-			-			-			-
Total real estate loans			374			374			-			1,054			8
Commercial and industrial			-			-			-			-			-
Consumer and other loans			-			-			-			-			-
Total		$	374		$	374		$	-		$	1,054		$	8
With recorded allowance:
Real estate loans:
One-to-four family		$	1,273		$	1,273		$	52		$	763		$	9
Multi-family			-			-			-			-			-
Home equity			-			-			-			-			-
Nonresidential			-			-			-			-			-
Agricultural			-			-			-			-			-
Construction and land			-			-			-			-			-
Total real estate loans			1,273			1,273			52			763			9
Commercial and industrial			-			-			-			-			-
Consumer and other loans			-			-			-			-			-
Total		$	1,273		$	1,273		$	52		$	763		$	9
Totals:
Real estate loans		$	1,647		$	1,647		$	52		$	1,817		$	17
Consumer and other loans			-			-			-			-			-
Total		$	1,647		$	1,647		$	52		$	1,817		$	17
The following table presents the aging of the recorded investment in past due loans at March 31, 2015 and June 30, 2014 by portfolio segment of loans:
31-Mar-15
																		Accruing
		30-59			60-89			90 Days										Loans
		Days			Days			or More			Total					Total		Past Due 90
		Past Due			Past Due			Past Due			Past Due			Current		Loans		Days or More
Real estate loans:
One-to-four family		$	4,893		$	1,110		$	3,565		$	9,568		$	256,242	$	265,810	$	-
Multi-family			-			-			-			-			2,606		2,606		-
Home equity			102			35			27			164			8,614		8,778		-
Nonresidential			632			500			806			1,938			21,712		23,650		-
Agricultural			-			-			-			-			4,178		4,178		-
Construction and land			178			-			190			368			14,462		14,830		-
Total real estate loans			5,805			1,645			4,588			12,038			307,814		319,852		-
Commercial and industrial			-			-			-			-			920		920		-
Consumer and other loans			1			-			-			1			2,821		2,822		-
Total		$	5,806		$	1,645		$	4,588		$	12,039		$	311,555	$	323,594	$	-
30-Jun-14
																		Accruing
		30-59			60-89			90 Days										Loans
		Days			Days			or More			Total					Total		Past Due 90
		Past Due			Past Due			Past Due			Past Due			Current		Loans		Days or More
Real estate loans:
One-to-four family		$	4,856		$	893		$	1,053		$	6,802		$	207,933	$	214,735	$	-
Multi-family			-			-			-			-			254		254		-
Home equity			-			-			-			-			227		227		-
Nonresidential			87			-			-			87			8,321		8,408		-
Construction and land			-			-			-			-			7,661		7,661		-
Total real estate loans			4,943			893			1,053			6,889			224,396		231,285		-
Consumer and other loans			-			-			-			-			747		747		-
Total		$	4,943		$	893		$	1,053		$	6,889		$	225,143	$	232,032	$	-
At March 31, 2015, nonaccrual loans were $4,768, of which $4,588 are classified in the “90 Days or More” category, and two loans for $180 in the “60 to 89” day category. Nonaccrual loans at June 30, 2014 were $1,647. All of these loans are disclosed by portfolio segment above in the "90 days or more past due" column at June 30, 2014, except one loan in the "60-89 days past due" category with a carrying amount of $220 and one loan in the "30-59 days past due" category with a carrying amount of $374.
Troubled Debt Restructurings:
As of March 31, 2015, the Company had a recorded investment in a troubled debt restructuring for an agricultural loan of $501. There were no troubled debt restructurings at June 30, 2014. This loan was acquired as a purchased credit impaired loan at December 1, 2014 at an unpaid principal amount of $1,156. The fair value discount allocated to this loan at that time was $656. The terms of this loan were modified to include a permanent reduction in its principal amount of $159, and both the principal and nonaccretable discount on this loan were adjusted accordingly. No provision for loan loss for this impairment was required. There are no commitments to lend any additional amounts under this loan. Additionally, under the terms of the restructuring, the term of the loan was extended approximately 29 months. Given that both the outstanding contractual principal receivable and the nonaccretable discount on the loan were reduced by the same amount, the pre-modified and post-modified balance of this loan remained unchanged. There were no defaults on this loan during the three months ended March 31, 2015. The first payment due under the new terms is April 1, 2015.
All loans graded pass, pass-watch, special mention, substandard and doubtful not specifically evaluated for impairment are collectively evaluated for impairment by portfolio segment. To develop and document a systematic methodology for determining the portion of the allowance for loan losses for loans evaluated collectively, the Company has divided the loan portfolio into eight portfolio segments, each with different risk characteristics and methodologies for assessing risk, and the Company utilizes a loan grading system whereby all loans within each portfolio segment are assigned a risk grade based on the risk profile of each loan. Loan risk 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 assigned a grade based upon management’s assessment of the ability of borrowers to service their debts. The following describes each of the Company’s loan grades and general information as to the risk profile of each of the Company’s loan portfolio segments:
Loan Grades:
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: One-to-four family residential loans consist primarily of loans secured by first or second deeds of trust on primary residences, and are originated as adjustable-rate or fixed-rate loans for the construction, purchase or refinancing of a one-to-four family residence. These loans are collateralized by owner-occupied properties located in the Company's market area. We currently originate residential mortgage loans for our portfolio with loan-to-value ratios of up to 80% for traditional owner-occupied homes.
Multi-family: Multi-family real estate loans generally have a maximum term of 5 years with a 30 year amortization period and a final balloon payment and are secured by properties containing five or more units in the Company's market area. These loans are generally made in amounts of up to 75% of the lesser of the appraised value or the purchase price of the property with an appropriate projected debt service coverage ratio. The Company's underwriting analysis includes considering the borrower's expertise and requires verification of the borrower's credit history, income and financial statements, banking relationships, independent appraisals, references and income projections for the property. The Company generally obtains personal guarantees on these loans.
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: The Company offers home equity loans and lines of credit secured by first or second deeds of trust on primary residences in the Company's market area. Our home equity loans and lines of credit are limited to an 80% loan-to-value ratio (including all prior liens). Standard residential mortgage underwriting requirements are used to evaluate these loans. The Company offers adjustable-rate and fixed-rate options for these loans with a maximum term of 10 years. The repayment terms on lines of credit are interest only monthly with principle due at maturity. Home equity loans have a more traditional repayment structure with principle and interest due monthly. The maximum term on home equity loans is 10 years with an amortization schedule not exceed 20 years.
Nonresidential Real Estate: Nonresidential loans include those secured by real estate mortgages on churches, owner-occupied and non-owner-occupied commercial buildings of various types, retail and office buildings, hotels, and other business and industrial properties. The nonresidential real estate loans that we originate generally have terms of 5 to 20 years with amortization periods up to 20 years. The maximum loan-to-value ratio of our nonresidential real estate loans is generally 75%.
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. In addition, because a church's financial stability often depends on donations from congregation members, some of whom may not reside in our market area, 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.
Agricultural: As a result of the Stephens Federal acquisition, we acquired agricultural real estate loans. These loans are secured by farmland and related improvements in the Company’s market area. These loans generally have terms of 5 to 20 years with amortization periods up to 20 years. The maximum loan-to-value ratio of these loans is generally 75%. The Company is managing a small number of these loans in our portfolio. We continue to closely monitor our existing relationships.
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: We make construction loans to individuals for the construction of their primary residences and interim construction loans for non-residential properties. These loans generally have maximum terms of eight months, and upon completion of construction convert to conventional amortizing mortgage loans. These construction loans have rates and terms comparable to one-to-four family residential mortgage loans that we originate. During the construction phase, the borrower generally pays interest only. The maximum loan-to-value ratio of our owner-occupied construction loans is 80%. Residential construction loans are generally underwritten pursuant to the same guidelines used for originating permanent residential mortgage loans. Finally, we make loans secured by land to complement our construction and nonresidential lending activities. These loans generally have terms of up to 10 years, and maximum loan-to-value ratios of 75% for improved lots and 65% for unimproved land.
To the extent our construction loans are not made to owner-occupants of single-family homes, they are more vulnerable to changes in economic conditions and the concentration of credit with a limited number of borrowers. Further, the nature of these loans is such that they are more difficult to evaluate and monitor. Our risk of loss on a construction or land loan is dependent largely upon the accuracy of the initial estimate of the property's value upon completion of the project and the estimated cost (including interest) of the project. If the estimate of value proves to be inaccurate, we may be confronted, at or prior to the maturity of the loan, with a project with a value which is insufficient to assure full repayment and/or the possibility of having to make substantial investments to complete and sell the project. Because defaults in repayment may not occur during the construction period, it may be difficult to identify problem loans at an early stage.
Commercial and Industrial Loans: As a result of the Stephens Federal acquisition, we acquired commercial and industrial loans. These loans are offered to businesses and professionals in the Company’s market area. These loans generally have short and medium terms on both a collateralized and uncollateralized basis. The structure of these loans are largely determined by the loan purpose and collateral. Sources of collateral can include a lien on furniture, fixtures, equipment, inventory, receivables and other assets of the company. A UCC-1 is typically filed to perfect our lien on these assets.
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: We offer installment loans for various consumer purposes to individuals for household, family and other personal expenditures. The maximum terms of consumer loans is 36 months for unsecured loans, 12 months for loans secured by marketable securities and 18-60 months for loans secured by a vehicle, depending on the age of the vehicle. We generally only extend consumer loans to existing customers or their immediate family members, and these loans generally have relatively low limits.
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.
To separate acquired loans from originated loans for presentation purposes, the Company has prepared the following tables showing each portfolio segment by risk grade for originated and for acquired loans at March 31, 2015. Loan risk grades were determined based on an analysis performed at March 31, 2015.
Originated loans:
31-Mar-15		Pass			Pass- Watch			Special			Substandard			Doubtful		Total
								Mention
Real estate loans:
One-to-four family		$	212,137		$	1,626		$	225		$	2,586		$	-	$	216,574
Multi-family			250			-			-			-			-		250
Home equity			155			11			-			-			-		166
Nonresidential			7,697			-			-			-			-		7,697
Agricultural			-			-			-			-			-		-
Construction and land			7,389			17			-			-			-		7,406
Total real estate loans			227,628			1,654			225			2,586			-		232,093
Commercial and industrial			-			-			-			-			-		-
Consumer and other loans			1,338			-			-			-			-		1,338
Total		$	228,966		$	1,654		$	225		$	2,586		$	-	$	233,431
Acquired loans:
31-Mar-15		Pass			Pass-Watch			Special			Substandard			Doubtful		Total
								Mention
Real estate loans:
One-to-four family		$	38,064		$	5,437		$	1,405		$	4,186		$	-	$	49,092
Multi-family			2,356			-			-			-			-		2,356
Home equity			8,063			214			174			160			-		8,611
Nonresidential			6,513			4,961			1,627			2,567			283		15,951
Agricultural			1,239			433			1,030			1,476			-		4,178
Construction and land			5,358			914			490			808			-		7,570
Total real estate loans			61,593			11,959			4,726			9,197			283		87,758
Commercial and industrial			902			16			2			-			-		920
Consumer and other loans			1,462			6			9			8			-		1,485
Total		$	63,957		$	11,981		$	4,737		$	9,205		$	283	$	90,163
The following table present total loans by segment and loan risk grade at June 30, 2014:
30-Jun-14		Pass			Pass-Watch			Special			Substandard			Doubtful		Total
								Mention
Real estate loans:
One-to-four family		$	213,088		$	-		$	-		$	-		$	1,647	$	214,735
Multi-family			254			-			-			-			-		254
Home equity			227			-			-			-			-		227
Nonresidential			8,408			-			-			-			-		8,408
Agricultural			-			-			-			-			-		-
Construction and land			7,661			-			-			-			-		7,661
Total real estate loans			229,638			-			-			-			1,647		231,285
Commercial and industrial			-			-			-			-			-		-
Consumer and other loans			747			-			-			-			-		747
Total		$	230,385		$	-		$	-		$	-		$	1,647	$	232,032
Purchased Credit Impaired Loans:
The following table presents the acquired purchased credit impaired loans, net of related discount, at March 31, 2015:
		March 31,
		2015
Real estate loans:
One-to-four family		$	3,800
Multi-family			-
Home equity			134
Nonresidential			2,849
Agricultural			1,476
Construction and land			808
Total real estate loans			9,067
Commercial and industrial			-
Consumer and other loans			-
Total loans		$	9,067
Carrying amounts listed above are net of an allowance for loan losses of $4.
The following table presents the changes in the carrying value and the accretable yield on purchased credit impaired loans for the three and nine months ended March 31, 2015:
		Three Months Ended						Nine Months Ended
		Accretable			Carrying			Accretable			Carrying
		Yield			Value			Yield			Value
Balance at beginning of period		$	(630	)	$	9,615		$	(642	)	$	9,671
Subsequent adjustments			22			1,272			22			1,272
Liquidations			-			(1,708	)		-			(1,708	)
Reductions from payments			-			(53	)		-			(121	)
Income			119			(55	)		131			(43	)
Change in the allowance			-			(4	)		-			(4	)
Balance at end of period		$	(489	)	$	9,067		$	(489	)	$	9,067
The following table presents loans acquired during the nine months ended March 31, 2015, at acquisition date, accounted for as purchased credit impaired loans:
		December 1,
		2014
Contractually required payments receivable		$	21,774
Contractual cash flows not expected to be collected (nonaccretable)			(10,213	)
Expected cash flows			11,561
Accretable yield			(620	)
Fair value of acquired loans		$	10,941
The following table presents the carrying amount of purchased credit impaired loans for which future cash flows could not be reasonably estimated. Income is not recognized on these loans.
		March 31,
		2015
Balance at beginning of period:		$	3,743
Reductions from payments and liquidations			(1,745	)
Balance at end of period:		$	1,998
Interest income recognized on a cost recovery basis for loans for which future cash flows could not be reasonably estimated was $4 for the three and nine months ended March 31, 2015.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Mar. 31, 2015
FAIR VALUE OF FINANCIAL INSTRUMENTS
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 (exit price) 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). The Company’s preferred stock investments are not actively traded; therefore, management estimates the fair value of its preferred stock using estimations provided by external dealer quotes.
	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.
	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.
	Real estate owned:
	Nonrecurring adjustments to certain commercial and residential real estate properties classified as real estate owned are measured at the lower of carrying amount or fair value, less costs to sell. Fair values are generally based on third party appraisals of the property, resulting in a Level 3 classification. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized.
	Assets and liabilities measured at fair value on a recurring basis at March 31, 2015 and June 30, 2014 are summarized below:
			Fair Value Measurements
			(Level 2)			(Level 3)			(Level 2)
			31-Mar-15						June 30,
									2014
	Financial assets:
	Securities available-for-sale		$	103,513		$	-		$	103,806
	Loan servicing rights			-			1,319			-
	Total financial assets		$	103,513		$	1,319		$	103,806
	Presented in the table below are assets measured at fair value on a nonrecurring basis using level 3 inputs at March 31, 2015 and June 30, 2014:
			Fair Value Measurements
			(Level 3)			(Level 3)
			March 31,			June 30,
			2015			2014
	Financial assets:
	Impaired real estate loans, with specific allocations:
	One-to-four-family		$	764		$	1,221
	Non-financial assets:
	Real estate owned, net:
	One-to-four-family			1,366			744
	Nonresidential			365			-
	Construction and land			768			-
	Total non-financial assets			2,499			744
	Total assets measured at fair value on a non-recurring basis		$	3,263		$	1,965
	The Company's impaired loans at March 31, 2015 and June 30, 2014, which were measured for impairment using the fair value of collateral less costs to sell, had carrying amounts of $764 and $1,221, respectively. The carrying value included a valuation allowance of $63 and $52, respectively. The impact to the provision for loan losses from the change in the valuation allowance for the nine months ended March 31, 2015 was an increase of $16.
	Real estate owned is carried at the lower of carrying value or fair value less costs to sell. The outstanding balances of real estate owned and their respective valuation allowances at March 31, 2015 and June 30, 2014 were $2,499 and $80 and $744 and $164, respectively. There were write downs of legacy real estate owned of $112 thousand for the three and nine months ended March 31, 2015. As a result of the acquisition, the Company acquired $3,392 in real estate owned accounted for at fair value. No impairments in value were recorded for these properties for the three or nine months ended March 31, 2015.
	The table below presents a reconciliation of loan servicing rights, which are measured at fair value on a recurring basis using significant unobservable inputs for Level 3 for the three and nine months ended March 31, 2015:
			Fair Value Measurements
			(Level 3)
			Three Months			Nine Months
			Ended			Ended
	Balance at beginning of period:		$	1,341		$	-
	Purchases			-			1,369
	Total losses included in earnings			(22	)		(50	)
	Balance at end of period:		$	1,319		$	1,319
	The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at March 31, 2015 and June 30, 2014.
			Level 3 Quantitative Information
			31-Mar-15			June 30,			Valuation Technique		Unobservable Inputs	Range (Weighted
						2014						Average)
				Fair Value			Fair Value
	Impaired real estate loans net, with specific allocations:		$	764		$	1,221		Sales comparison approach		Adjustment for differences between the comparable sales	0% to 30% (15%)
	One-to-four family
	Real estate owned net:
	One-to-four-family		$	1,366		$	744		Sales comparison approach		Adjustment for differences between the comparable sales	0% to 20% (10%)
	Nonresidential			365			-		Sales comparison approach		Adjustment for differences between the comparable sales	0% to 20% (10%)
	Construction and land			768			-		Sales comparison approach		Adjustment for differences between the comparable sales	0% to 20% (10%)
	Many of the Company’s assets and liabilities are short-term financial instruments whose carrying amounts reported in the consolidated balance sheet approximate fair value. These items include cash and cash equivalents, 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 March 31, 2015 and June 30, 2014 are summarized below:
			31-Mar-15
			Carrying			Fair Value
			Amount			(Level 1)			(Level 2)			(Level 3)		Total
	Financial assets
Securities available-for-sale		$	103,513		$	-		$	103,513		$	-	$	103,513
Loans, net			322,351			-			-			324,177		324,177
Loans held for sale (2)			733			-			-			733		733
Loan servicing rights			1,319			-			-			1,319		1,319
Restricted equity securities (1)			440			N/A			N/A			N/A		N/A
Financial liabilities
Deposits		$	400,777		$	135,731		$	265,197		$	-	$	400,928
		30-Jun-14
		Carrying			Fair Value
		Amount			(Level 1)			(Level 2)			(Level 3)		Total
Financial assets
Securities available-for-sale		$	103,806		$	-		$	103,806		$	-	$	103,806
Loans, net			229,931			-			-			233,176		233,176
Restricted equity securities (1)			325			N/A			N/A			N/A		N/A
Financial liabilities
Deposits		$	281,015		$	80,904		$	200,662		$	-	$	281,566
	-1	It was not practicable to determine fair value of restricted equity securities due to restrictions placed on transferability.
	-2	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 2 classification.

EMPLOYEE_STOCK_OWNERSHIP_PLAN

EMPLOYEE STOCK OWNERSHIP PLAN	9 Months Ended
	Mar. 31, 2015
EMPLOYEE STOCK OWNERSHIP PLAN
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 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. An additional $100 discretionary contribution was paid to the ESOP for additional debt retirement during the nine months ended March 31, 2015, which resulted in the release of additional shares and recognition of additional compensation expense of $140. No contributions to the ESOP were made during the three months ended March 31, 2015. The expense recognized for the three months and nine months ended March 31, 2015 and 2014 was $91 and $384, and $76 and $305, respectively.
	Shares held by the ESOP at March 31, 2015 and June 30, 2014 were as follows:
		March 31,		June 30,
		2015		2014
	Committed to be released to participants		4,969		9,464
	Allocated to participants		85,248		57,902
	Unearned		158,625		181,476
	Total ESOP shares		248,842		248,842
	Fair value of unearned shares	$	3,183,609	$	3,277,457

STOCK_BASED_COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Mar. 31, 2015
STOCK BASED COMPENSATION
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.
	On April 27, 2012, the compensation committee of the board of directors approved the issuance of 62,208 stock options to purchase Company stock and 24,884 shares of restricted stock to its directors. In addition, a total of 171,078 stock options and 62,210 shares of restricted stock were granted to officers. Stock options and restricted stock have vesting periods of 5 years or 7 years, a percentage of which vests annually on each anniversary date of grant. The weighted average vesting period of stock options and restricted stock granted was 5.7 years and 5.6 years, respectively. Stock options expire ten years after issuance. 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.
	On November 13, 2013, the compensation committee of the board of directors approved the issuance of 7,700 stock options to purchase Company stock and 12,600 shares of restricted stock to one of the Company’s officers. Stock options and restricted stock have vesting periods of 7 years, a percentage of which and vests annually at each anniversary date of grant. Stock options expire ten years after issuance. 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.
	On January 23, 2015, the compensation committee of the board of directors approved the issuance of 7,700 stock options to purchase Company stock and 12,600 shares of restricted stock to one of the Company’s officers. Stock options and restricted stock have vesting periods of 7 years, a percentage of which and vests annually at each anniversary date of grant. Stock options expire ten years after issuance. 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 nine months ended March 31, 2015:
		Options			Weighted-			Weighted-			Aggregate
					Average			Average			Intrinsic
					Exercise			Remaining			Value (1)
					Price/Share			Contractual
								Life (in years)
	Outstanding - July 1, 2014		240,986		$	11.58
	Granted		7,700			20.01
	Exercised		-			-
	Forfeited		-			-
	Outstanding - March 31, 2015		248,686		$	11.84			7.12		$	2,046,433
	Fully vested and exercisable at March 31, 2015		85,528		$	11.58			7.12		$	726,133
	Expected to vest in future periods		163,158
	Fully vested and expected to vest - March 31, 2015		248,686		$	11.84			7.12		$	2,046,433
	(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 $20.07 per share on March 31, 2015.
	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 Thrifts. 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:
		Fiscal Years Granted
		2015			2014			2012
	Risk-free interest rate		1.68	%		2.32	%		1.54	%
	Expected dividend yield		2	%		2.33	%		3.45	%
	Expected stock volatility		15.91			15.5			15.3
	Expected life (years)		8			8			8
	Fair value	$	2.86		$	2.46		$	1
	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 21,835 and 32,105 options that were earned during the nine months ended March 31, 2015 and 2014, respectively. Stock-based compensation expense for stock options for the three and nine months ended March 31, 2015 and 2014 was $12 and $34, and $11 and $33, respectively. Total unrecognized compensation cost related to stock options was $143 at March 31, 2015 and is expected to be recognized over a weighted-average period of 3.0 years.
	The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2015:
		March 31,
		2015
	Balance - beginning of year		67,699
	Granted		12,600
	Forfeited		-
	Vested		(1,800	)
	Balance - end of period		78,499
	Weighted average grant date fair value	$	13.15
	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. The weighted-average grant date fair value of restricted stock granted on April 27, 2012 was $11.58 per share or $1,009. The weighted-average grant date fair value of restricted stock granted on November 13, 2013 was $17.16 per share or $216. The weighted-average grant date fair value of restricted stock granted on January 23, 2015 was $20.01 per share or $252. Stock-based compensation expense for restricted stock included in noninterest expense for the three and nine months ended March 31, 2015 and 2014 was $60 and $169, and $53 and $151, respectively. Unrecognized compensation expense for nonvested restricted stock awards was $872 at March 31, 2015 and is expected to be recognized over a weighted-average period of 4.6 years.

LOAN_SERVICING_RIGHTS

LOAN SERVICING RIGHTS	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015 are as follows:
			March 31,
			2015
	Mortgage loan portfolio serviced for:
	FHLMC		$	141,653
	Custodial escrow balances maintained in connection with serviced loans were $301 at March 31, 2015.
	Activity for loan servicing rights for the three months ended March 31, 2015 is as follows:
			Three Months
			Ended
			31-Mar-15
	Loan servicing rights:
	Beginning of period:		$	1,341
	Additions			-
	Change in fair value			(22	)
	End of period:		$	1,319
	Fair value at March 31, 2015 was determined using a discount rate of 9.50%, prepayment speed assumptions ranging from 7.0% to 19.8% CPR depending on the loans’ coupon, term and seasoning, and a weighted average default rate of 0.61%.

SUPPLEMENTAL_CASH_FLOW_INFORMA

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Mar. 31, 2015
Supplemental Cash FlowInformation [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	-11	SUPPLEMENTAL CASH FLOW INFORMATION
	Supplemental cash flow information for the nine months ended March 31, 2015 and 2014:
			March 31,		March 31,
			2015		2014
	Cash paid during the period for:
	Interest paid		$	932	$	1,158
	Income taxes paid		$	1,240	$	1,955
	Supplemental noncash disclosures:
	Transfers from loans to real estate owned		$	163	$	69
	Unrealized gains (losses) on securities available-for-sale, net		$	704	$	(79	)
	Transfer from securities held-to-maturity to available-for-sale		$	-	$	7,805
	Unrealized gains on securities held-to-maturity, transferred to available for sale		$	-	$	45
	Acquisition:
	Assets acquired (excluding goodwill of $2,870)		$	137,985	$	-
	Liabilities assumed		$	140,155	$	-
	Acquisition price (common stock issued to OFED, MHC)		$	700	$	-
	Goodwill recorded		$	2,870	$	-

REGULATORY_CAPITAL

REGULATORY CAPITAL	3 Months Ended
	Mar. 31, 2015
Regulatory Capital [Abstract]
REGULATORY CAPITAL		-12	REGULATORY CAPITAL
	Effective January 1, 2015 (with a phase-in period of two to four years for certain components), the Association became subject to new capital regulations adopted by the Board of Governors of the Federal Reserve System (“FRB”) and the FDIC, which implement the Basel III regulatory capital reforms and the changes required by the Dodd-Frank Act. The new regulations require a new common equity Tier 1 (“CETI”) capital ratio of 4.5%, increase the minimum Tier 1 capital to risk-weighted assets ratio to 6.0% from 4.0%, require a minimum total capital to risk-weighted assets ratio of 8.0% and require a minimum Tier 1 leverage ratio of 4.0%. CETI generally consists of common stock and retained earnings, subject to applicable adjustments and deductions. Under new prompt corrective action regulations, in order to be considered “well capitalized,” the Association must maintain a CETI capital ratio of 6.5% (new) and a Tier 1 ratio of 8.0% (increased from 6.0%), a total risk based capital ratio of 10.0% (unchanged) and a Tier 1 leverage ratio of 5.0% (unchanged). In addition, the regulations establish a capital conservation buffer above the required capital ratios that phases in beginning January 1, 2016 at 0.625% of risk-weighted assets and increases each year by 0.625% until it is fully phased in at 2.5% effective January 1, 2019. Beginning January 1, 2016, failure to maintain the capital conservation buffer will limit the ability of the Association and the Company to pay dividends, repurchase shares or pay discretionary bonuses.
	The new regulations implemented changes to what constitutes regulatory capital. Certain instruments will no longer constitute qualifying capital, subject to phase-out periods. In addition, Tier 2 capital is no longer limited to the amount of Tier 1 capital included in total capital. Mortgage servicing rights, certain deferred tax assets and investments in unconsolidated subsidiaries over designated percentages of CETI will be deducted from capital. The Association has elected to permanently opt out of the inclusion of accumulated other comprehensive income in capital calculations, as permitted by the regulations. This opt-out will reduce the impact of market volatility on our regulatory capital ratios.
	The new regulations also changed the risk weights of certain assets, including an increase in the risk weight of certain high volatility commercial real estate acquisition, development and construction loans and non-residential mortgage loans that are 90 days past due or on nonaccrual status to 150% from 100%, a credit conversion factor for the unused portion of commitments with maturities of less than one year that are not cancellable to 20% from 0%, an increase in the risk weight for mortgage servicing g and deferred tax assets that are not deducted from capital to 250% from 100%, and an increase in the risk weight for equity exposures to 600% from 0%.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS		-13	SUBSEQUENT EVENTS
	On April 30, 2015, the Board of Directors of Oconee Federal Financial Corp. (the “Company”) declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend is payable to stockholders of record as of May 14, 2015, and will be paid on or about May 28, 2015.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Loans Held for Sale	Loans Held for Sale: Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans held for sale, for which the fair value option has been elected, are recorded at fair value as of each balance sheet date. The fair value includes the servicing value of the loans as well as any accrued interest.
	Mortgage loans held for sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold.
Purchased Credit Impaired Loans	Purchased Credit Impaired Loans: The Company purchases individual loans and groups of loans, some of which have shown evidence of credit deterioration since origination. These purchased credit impaired loans are recorded at the amount paid, such that there is no carryover of the seller’s allowance for loan losses. After acquisition, losses are recognized by an increase in the allowance for loan losses. Purchased credit impaired loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each loan, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan (accretable yield). The excess of the loans’ contractual principal and interest over expected cash flows is not recorded (nonaccretable difference).
	Over the life of the loans expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income.
Purchased Performing Loans	Purchased Performing Loans: The Company accounts for purchased performing loans at acquisition at fair value, which includes a credit discount. The resulting fair value (premium/discount) is amortized/accreted on a level yield basis over the estimated lives of the loans. There is no allowance for loan losses established for purchased performing loans, however a provision for loan losses is recorded for any further deterioration in these loans subsequent to the acquisition.
Loan servicing rights	Loan servicing rights: When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income.
	Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports changes in fair value of servicing assets in earnings in the period in which the changes occur, and are included with mortgage banking income on the Consolidated Statements of Income and Comprehensive Income. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses.
Goodwill and Core Deposit Intangible	Goodwill and Core Deposit Intangible: Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill acquired in a purchase business combination is not amortized, but tested for impairment at least annually or more frequently if events and circumstances exists that indicate that a goodwill impairment test should be performed. Goodwill will be tested for impairment as of April 1, 2016 and annually thereafter on each fiscal year ended date, unless evidence exists to warrant more frequent testing.
	Core deposit intangibles represent the estimated value of long-term deposit core deposit relationships acquired in a business combination. This value is amortized over the weighted-average estimated useful lives of deposit accounts using a method that we believe reasonably approximates the anticipated benefit stream from this intangible. The estimated useful lives are periodically reviewed for reasonableness. The core deposit intangible acquired will be amortized over 15 years using the original projections of future benefit stream of cash flows, adjusted periodically, if needed for potential impairment of the remaining unamortized balance of the core deposit intangible.
	The fair value of the core deposit intangible at the acquisition date of December 1, 2014 was $959. Amortization expense of $44 and $59 was recognized for the three and nine months ended March 31, 2015. The remaining carrying amount of the core deposit intangible, net of accumulated amortization of $59 was $900.
Derivative Instruments and Hedging	Derivative Instruments and Hedging: The Company recognizes all derivatives as either assets or liabilities in the balance sheet, and measures those instruments at fair value. Changes in the fair value of those derivatives are reported in current earnings or other comprehensive income depending on the purpose for which the derivative is held and whether the derivative qualifies for hedge accounting. Loan commitments related to the origination or acquisition of mortgage loans that will be held for sale must be accounted for as derivative instruments. The Company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (rate lock commitments). The Company also enters into forward sales commitments for the mortgage loans underlying the rate lock commitments. The fair values of these two derivative financial instruments are collectively insignificant to the consolidated financial statements.
Reclassifications	Reclassifications: Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation.

ACQUISITION_Tables

ACQUISITION (Tables)	9 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Summary of assets received and liabilities
			As Recorded				Initial Fair				Subsequent				As Recorded
			by Stephens				Value and				Fair Value and				by the
			Federal				Other				Other				Company
							Adjustments				Adjustments
	Consideration
	Common stock at $18.95 per share, 36,945 shares										$	-			$	700
	Assets
	Cash and cash equivalents		$	24,079			$	-			$	-			$	24,079
	Securities available-for-sale			2,720				-				-				2,720
	Loans			103,166				(6,742	)	-1		(965	)	-7		95,459
	Mortgage loans held for sale			572				-				-				572
	Premises and equipment, net			5,308				(1,324	)	-2		-				3,984
	Real estate owned, net			6,198				(2,806	)	-3		-				3,392
	Accrued interest receivable			376				-				-				376
	Restricted equity securities			143				-				-				143
	Core deposit intangible			-				-				959		-8		959
	Loan servicing rights			1,409				(40	)	-4		-				1,369
	Other assets			141				4,091		-5		700		-9		4,932
	Total assets acquired		$	144,112			$	(6,821	)			694				137,985
	Liabilities
	Deposits		$	139,160			$	54		-6	$	-			$	139,214
	Other liabilities			1,035				-				(94	)	-10		941
	Total liabilities assumed		$	140,195			$	54				(94	)			140,155
	Net liabilities assumed											788				(2,170	)
	Goodwill										$	(788	)	-11	$	2,870
	Explanation of fair value adjustments:
		-1	The net fair value adjustment includes a total gross fair value adjustment of $8,892 to the unpaid principle balances of loans acquired, net of the existing allowance of $1,979, and deferred loans fees of $171. The gross fair value adjustment includes both credit, interest and liquidity components that comprise the entire discount. The fair value adjustment related to PCI loans was $6,676, and the fair value adjustment on purchased performing loans was $2,216. Based on an evaluation of the expected future cash flows for PCI loans, the accretable difference expected to be recognized into income as a yield adjustment on loans was $642. The entire discount on purchased performing loans will be accreted to income on a level-yield basis over each loan’s contractual life.
		-2	Premises and equipment were adjusted to reflect recently appraised values of the land and buildings for each branch acquired and the Company’s estimates of the fair value of furniture, fixtures and equipment.
		-3	The net adjustment reflects the fair value of real estate properties, less estimated costs to sell.
		-4	The adjustment reflects the fair value of loan servicing rights based upon the net present value of future servicing cash flows net of costs.
		-5	Represents adjustments in the net deferred tax assets resulting from the fair value adjustments related to the acquired assets and liabilities, identifiable intangibles and other deferred tax items. The fair value adjustment of the net deferred tax asset assumes an effective tax rate of approximately 36%.
		-6	The value adjustment to time deposits reflecting the differences in the contractual interest rates and those currently offered. The premium will be amortized into interest expense over a 3.7 year life using the straight line method.
		-7	Additional loans were identified as PCI, resulting in a net $578 increase in the fair value discount of those loans. Additionally, fair value estimates were updated on certain loans, increasing the fair value discount approximately $387.
		-8	The value for the core deposit intangible at December 1, 2014.
		-9	Change in other assets relate to changes in deferred taxes associated with the fair value discounts on PCI loans.
		-10	This adjustment represents an adjustment to amounts determined to be over accrued by Stephens Federal for FDIC premiums owed.
		-11	Changes to goodwill are a direct result of the adjustments to net assets acquired.
Schedule of impact of the merger		Actual from			Pro-forma for				Pro-forma for nine months
		acquisition date			three months				ended
		through March 31,			ended				March 31,
					March 31,
		2015			2014				2015			2014
	Net interest income	$	1,577		$	4,140			$	12,660		$	12,362
	Noninterest income		374			215				1,255			1,219
	Net income		404			1,229				4,161			3,553
	Net income available to common shareholders	$	404		$	1,217			$	4,117		$	4,482
	Pro-forma earnings per share:
	Basic				$	0.19			$	0.73		$	0.75
	Diluted				$	0.19			$	0.73		$	0.71

EARNINGS_PER_SHARE_EPS_Tables

EARNINGS PER SHARE ("EPS") (Tables)	9 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted		Three Months Ended						Nine Months Ended
		March 31,			March 31,			March 31,			March 31,
		2015			2014			2015			2014
	Earnings per share
	Net income	$	1,196		$	855		$	3,267		$	2,785
	Less:  distributed earnings allocated to participating securities		(8	)		(8	)		(22	)		(25	)
	Less:  (undistributed income) dividends in excess of earnings allocated to participating securities		(8	)		(4	)		(22	)		(17	)
	Net earnings available to common shareholders	$	1,180		$	843		$	3,223		$	2,743
	Weighted average common shares outstanding including participating securities		5,880,480			5,844,087			5,853,577			5,844,865
	Less:  participating securities		(78,499	)		(83,695	)		(78,499	)		(83,695	)
	Less: average unearned ESOP shares		(161,110	)		(188,754	)		(170,051	)		(196,568	)
	Weighted average common shares outstanding		5,640,871			5,571,638			5,605,027			5,564,602
	Basic earnings per share	$	0.21		$	0.15		$	0.58		$	0.49
	Weighted average common shares outstanding		5,640,871			5,571,638			5,605,027			5,564,602
	Add:  dilutive effects of assumed exercises of stock options		76,901			55,607			68,256			51,379
	Average shares and dilutive potential common shares		5,717,772			5,627,245			5,673,283			5,615,981
	Diluted earnings per share	$	0.21		$	0.15		$	0.57		$	0.49

SECURITIES_AVAILABLEFORSALE_AN1

SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY (Tables)	9 Months Ended
	Mar. 31, 2015
SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY
Schedule of unrealized gain (loss) on investments					Gross			Gross
			Amortized		Unrealized			Unrealized			Fair
	31-Mar-15		Cost		Gains			Losses			Value
	Available-for-sale:
	FHLMC common stock		$	20	$	165		$	-		$	185
	Certificates of deposit			6,225		35			(2	)		6,258
	Municipal securities			9,539		87			(25	)		9,601
	SBA loan pools			2,511		19			-			2,530
	U.S. Government agency mortgage-backed securities			61,428		804			(274	)		61,958
	U.S. Government agency bonds			22,899		129			(47	)		22,981
	Total available-for-sale		$	102,622	$	1,239		$	(348	)	$	103,513
					Gross			Gross
			Amortized		Unrealized			Unrealized			Fair
	30-Jun-14		Cost		Gains			Losses			Value
	Available-for-sale:
	FHLMC common stock		$	20	$	294		$	-		$	314
	Preferred stock (1)			271		27			-			298
	Certificates of deposit			7,221		24			(8	)		7,237
	Municipal securities			5,846		2			(39	)		5,809
	U.S. Government agency mortgage-backed securities			60,742		428			(730	)		60,440
	U.S. Government agency bonds			29,946		181			(419	)		29,708
	Total available-for-sale		$	104,046	$	956		$	(1,196	)	$	103,806
	(1) Consists of 300 shares of Southern First Bancshares, Inc. cumulative perpetual preferred stock, series T.
Schedule of unrealized loss on investments
			Less than 12 Months								12 Months or More								Total
			Fair		Unrealized			Number in			Fair			Unrealized			Number in		Fair		Unrealized			Number in
			Value		Loss			Unrealized			Value			Loss			Unrealized		Value		Loss			Unrealized
								Loss (1)									Loss (1)							Loss (1)
	31-Mar-15
	Available-for-sale:
	Certificates of deposit		$	497	$	(1	)		2		$	248		$	(1	)		1	$	745	$	(2	)		3
	Municipal securities			2,370		(25	)		7			-			-			-		2,370		(25	)		7
	SBA loan pools			-		-			-			-			-			-		-		-			-
	U.S. Government agency mortgage-backed securities			6,117		(23	)		4			12,105			(251	)		12		18,222		(274	)		16
	U.S. Government agency bonds			-		-			-			6,947			(47	)		4		6,947		(47	)		4
			$	8,984	$	(49	)		13		$	19,300		$	(299	)		17	$	28,284	$	(348	)		30
			Less than 12 Months								12 Months or More								Total
			Fair		Unrealized			Number in			Fair			Unrealized			Number in		Fair		Unrealized			Number in
			Value		Loss			Unrealized			Value			Loss			Unrealized		Value		Loss			Unrealized
								Loss (1)									Loss (1)							Loss (1)
	30-Jun-14
	Available-for-sale:
	Certificates of deposit		$	1,237	$	(8	)		5		$	-		$	-			-	$	1,237	$	(8	)		5
	Municipal securities			4,263		(39	)		11			-			-			-		4,263		(39	)		11
	U.S. Government agency mortgage-backed securities			7,241		(24	)		6			21,464			(706	)		18		28,705		(730	)		24
	U.S. Government agency bonds			3,467		(5	)		3			12,574			(414	)		8		16,041		(419	)		11
			$	16,208	$	(76	)		25		$	34,038		$	(1,120	)		26	$	50,246	$	(1,196	)		51
		-1	Actual amounts.
Schedule of contractual maturity			31-Mar-15					30-Jun-14
			Amortized		Fair			Amortized			Fair
			Cost		Value			Cost			Value
	Less than one year		$	3,748	$	3,772		$	4,002		$	4,029
	Due from one to five years			11,969		12,027			18,717			18,836
	Due from five to ten years			19,605		19,694			13,297			13,047
	Due after ten years			3,341		3,347			6,997			6,842
	Mortgage-backed securities			63,939		64,488			60,742			60,440
	Total		$	102,602	$	103,328		$	103,755		$	103,194
Schedule of proceeds from sales of securities available-for-sale and held-to-maturity and gains or losses recognized			Three Months Ended					Nine Months Ended
			March 31,		March 31,			March 31,			March 31,
			2015		2014			2015			2014
	Available-for-sale:
	Proceeds		$	4,604	$	3,420		$	11,025		$	14,278
	Gross gains			120		70			149			163
	Gross losses			-		-			-			(30	)
	Held-to-maturity:
	Proceeds			-		-			-			2,270
	Gross gains			-		-			-			82
	Gross losses			-		-			-			-
	Total:
	Proceeds		$	4,604	$	3,420		$	11,025		$	16,548
	Gross gains		$	120	$	70		$	149		$	245
	Gross losses		$	-	$	-		$	-		$	(30	)

LOANS_Tables

LOANS (Tables)	9 Months Ended
	Mar. 31, 2015
LOANS
Schedule of components of loans		March 31,			June 30,
		2015			2014
	Real estate loans:
	One-to-four family	$	265,810		$	214,735
	Multi-family		2,606			254
	Home equity		8,778			227
	Nonresidential		23,650			8,408
	Agricultural		4,178			-
	Construction and land		14,830			7,661
	Total real estate loans		319,852			231,285
	Commercial and industrial		920			-
	Consumer and other loans		2,822			747
	Total loans		323,594			232,032
	Deferred net loan fees		(1,243	)		(1,246	)
	Total loans net of deferred loan fees	$	322,351		$	230,786
Schedule of activity in the allowance for loan losses	Three Months Ended March 31, 2015	Beginning			Provision			Charge-offs			Recoveries			Ending
		Balance												Balance
	Real estate loans:
	One-to-four family	$	782		$	7		$	-		$	-		$	789
	Multi-family		4			-			-			-			4
	Home equity		1			-			-			-			1
	Nonresidential		50			(1	)		-			-			49
	Agricultural		-			-			-			-			-
	Construction and land		26			(1	)		-			-			25
	Total real estate loans		863			5			-			-			868
	Commercial and industrial		-			-			-			-			-
	Consumer and other loans		1			2			(2	)		-			1
	Total loans	$	864		$	7		$	(2	)	$	-		$	869
	Nine Months Ended March 31, 2015	Beginning			Provision			Charge-offs			Recoveries			Ending Balance
		Balance
	Real estate loans:
	One-to-four family	$	736		$	53		$	-		$	-		$	789
	Multi-family		4			-			-			-			4
	Home equity		1			-			-			-			1
	Nonresidential		52			(3	)		-			-			49
	Agricultural		-			-			-			-			-
	Construction and land		59			(34	)		-			-			25
	Total real estate loans		852			16			-			-			868
	Commercial and industrial		-			-			-			-			-
	Consumer and other loans		3			-			(2	)		-			1
	Total loans	$	855		$	16		$	(2	)	$	-		$	869
	Three Months Ended March 31, 2014	Beginning			Provision			Charge-offs			Recoveries			Ending
		Balance												Balance
	Real estate loans:
	One-to-four family	$	701		$	39		$	-		$	-		$	740
	Multi-family		4			-			-			-			4
	Home equity		1			-			-			-			1
	Nonresidential		51			-			-			-			51
	Agricultural		-			-			-			-			-
	Construction and land		30			1			-			-			31
	Total real estate loans		787			40			-			-			827
	Commercial and industrial		-			-			-			-			-
	Consumer and other loans		1			1			-			-			2
	Total loans	$	788		$	41		$	-		$	-		$	829
	Nine Months Ended March 31, 2014	Beginning			Provision			Charge-offs			Recoveries			Ending
		Balance												Balance
	Real estate loans:
	One-to-four family	$	665		$	79		$	(4	)	$	-		$	740
	Multi-family		4			-			-			-			4
	Home equity		1			-			-			-			1
	Nonresidential		52			(1	)		-			-			51
	Agricultural		-			-			-			-			-
	Construction and land		27			4			-			-			31
	Total real estate loans		749			82			(4	)		-			827
	Commercial and industrial		-			-			-			-			-
	Consumer and other loans		2			-			-			-			2
	Total loans	$	751		$	82		$	(4	)	$	-		$	829
Schedule of recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment		Ending Allowance on Loans:						Loans:
	At March 31, 2015	Individually			Collectively			Individually			Collectively
		Evaluated for			Evaluated for			Evaluated for			Evaluated for
		Impairment			Impairment			Impairment			Impairment
	Real estate loans:
	One-to-four family	$	63		$	727		$	6,772		$	259,038
	Multi-family		-			4			-			2,606
	Home equity		-			1			160			8,618
	Nonresidential		3			46			2,852			20,798
	Agricultural		-			-			1,476			2,702
	Construction and land		-			24			808			14,022
	Total real estate loans		66			802			12,068			307,784
	Commercial and industrial		-			-			-			920
	Consumer and other loans		-			1			-			2,822
	Total loans	$	66		$	803		$	12,068		$	311,526
		Ending Allowance on Loans:						Loans:
	At March 31, 2014	Individually			Collectively			Individually			Collectively
		Evaluated for			Evaluated for			Evaluated for			Evaluated for
		Impairment			Impairment			Impairment			Impairment
	Real estate loans:
	One-to-four family	$	81		$	659		$	2,470		$	205,331
	Multi-family		-			4			-			253
	Home equity		-			1			-			239
	Nonresidential		-			51			-			8,567
	Agricultural		-			-			-			-
	Construction and land		-			31			-			9,997
	Total real estate loans		81			746			2,470			224,387
	Commercial and industrial		-			-			-			-
	Consumer and other loans		-			2			-			683
	Total loans	$	81		$	748		$	2,470		$	225,070
		Ending Allowance on Loans:						Loans:
	At June 30, 2014	Individually			Collectively			Individually			Collectively
		Evaluated for			Evaluated for			Evaluated for			Evaluated for
		Impairment			Impairment			Impairment			Impairment
	Real estate loans:
	One-to-four family	$	52		$	684		$	1,647		$	213,088
	Multi-family		-			4			-			254
	Home equity		-			1			-			227
	Nonresidential		-			52			-			8,408
	Agricultural		-			-			-			-
	Construction and land		-			59			-			7,661
	Total real estate loans		52			800			1,647			229,638
	Commercial and industrial		-			-			-			-
	Consumer and other loans		-			3			-			747
	Total loans	$	52		$	803		$	1,647		$	230,385
Schedule of individually evaluated for impairment by portfolio segment
		31-Mar-15
		Unpaid			Recorded			Related			Average			Interest
		Principal			Investment			Allowance			Recorded			Income
		Balance									Investment			Recognized
	With no recorded allowance:
	Real estate loans:
	One-to-four family	$	7,414		$	6,008		$	-		$	3,191		$	59
	Multi-family		-			-			-			-			-
	Home equity		256			160			-			80			1
	Nonresidential		3,836			1,931			-			966			26
	Agricultural		2,912			1,476			-			738			25
	Construction and land		1,473			809			-			405			14
	Total real estate loans		15,891			10,384			-			5,380			125
	Commercial and industrial		-			-			-			-			-
	Consumer and other loans		-			-			-			-			-
	Total	$	15,891		$	10,384		$	-		$	5,380		$	125
	With recorded allowance:
	Real estate loans:
	One-to-four family	$	992		$	764		$	63		$	1,019		$	24
	Multi-family		-			-			-			-			-
	Home equity		-			-			-			-			-
	Nonresidential		1,451			920			3			460			21
	Agricultural		-			-			-			-			-
	Construction and land		-			-			-			-			-
	Total real estate loans		2,443			1,684			66			1,479			45
	Commercial and industrial		-			-			-			-			-
	Consumer and other loans		-			-			-			-			-
	Total	$	2,443		$	1,684		$	66		$	1,479		$	45
	Totals:
	Real estate loans	$	18,334		$	12,068		$	66		$	6,859		$	172
	Consumer and other loans		-			-			-			-			-
	Total	$	18,334		$	12,068		$	66		$	6,859		$	172
		30-Jun-14
		Unpaid			Recorded			Related			Average			Interest
		Principal			Investment			Allowance			Recorded			Income
		Balance									Investment			Recognized
	With no recorded allowance:
	Real estate loans:
	One-to-four family	$	374		$	374		$	-		$	1,054		$	8
	Multi-family		-			-			-			-			-
	Home equity		-			-			-			-			-
	Nonresidential		-			-			-			-			-
	Agricultural		-			-			-			-			-
	Construction and land		-			-			-			-			-
	Total real estate loans		374			374			-			1,054			8
	Commercial and industrial		-			-			-			-			-
	Consumer and other loans		-			-			-			-			-
	Total	$	374		$	374		$	-		$	1,054		$	8
	With recorded allowance:
	Real estate loans:
	One-to-four family	$	1,273		$	1,273		$	52		$	763		$	9
	Multi-family		-			-			-			-			-
	Home equity		-			-			-			-			-
	Nonresidential		-			-			-			-			-
	Agricultural		-			-			-			-			-
	Construction and land		-			-			-			-			-
	Total real estate loans		1,273			1,273			52			763			9
	Commercial and industrial		-			-			-			-			-
	Consumer and other loans		-			-			-			-			-
	Total	$	1,273		$	1,273		$	52		$	763		$	9
	Totals:
	Real estate loans	$	1,647		$	1,647		$	52		$	1,817		$	17
	Consumer and other loans		-			-			-			-			-
Total	$	1,647		$	1,647		$	52		$	1,817		$	17
Schedule of the aging of the recorded investment in past due loans	31-Mar-15
																		Accruing
		30-59			60-89			90 Days										Loans
		Days			Days			or More			Total					Total		Past Due 90
		Past Due			Past Due			Past Due			Past Due			Current		Loans		Days or More
	Real estate loans:
	One-to-four family	$	4,893		$	1,110		$	3,565		$	9,568		$	256,242	$	265,810	$	-
	Multi-family		-			-			-			-			2,606		2,606		-
	Home equity		102			35			27			164			8,614		8,778		-
	Nonresidential		632			500			806			1,938			21,712		23,650		-
	Agricultural		-			-			-			-			4,178		4,178		-
	Construction and land		178			-			190			368			14,462		14,830		-
	Total real estate loans		5,805			1,645			4,588			12,038			307,814		319,852		-
	Commercial and industrial		-			-			-			-			920		920		-
	Consumer and other loans		1			-			-			1			2,821		2,822		-
	Total	$	5,806		$	1,645		$	4,588		$	12,039		$	311,555	$	323,594	$	-
	30-Jun-14
																		Accruing
		30-59			60-89			90 Days										Loans
		Days			Days			or More			Total					Total		Past Due 90
		Past Due			Past Due			Past Due			Past Due			Current		Loans		Days or More
	Real estate loans:
	One-to-four family	$	4,856		$	893		$	1,053		$	6,802		$	207,933	$	214,735	$	-
	Multi-family		-			-			-			-			254		254		-
	Home equity		-			-			-			-			227		227		-
	Nonresidential		87			-			-			87			8,321		8,408		-
	Construction and land		-			-			-			-			7,661		7,661		-
	Total real estate loans		4,943			893			1,053			6,889			224,396		231,285		-
	Consumer and other loans		-			-			-			-			747		747		-
	Total	$	4,943		$	893		$	1,053		$	6,889		$	225,143	$	232,032	$	-
Schedule of portfolio segment by risk grade for originated and for acquired loans	Originated loans:
	31-Mar-15	Pass			Pass- Watch			Special			Substandard			Doubtful		Total
								Mention
	Real estate loans:
	One-to-four family	$	212,137		$	1,626		$	225		$	2,586		$	-	$	216,574
	Multi-family		250			-			-			-			-		250
	Home equity		155			11			-			-			-		166
	Nonresidential		7,697			-			-			-			-		7,697
	Agricultural		-			-			-			-			-		-
	Construction and land		7,389			17			-			-			-		7,406
	Total real estate loans		227,628			1,654			225			2,586			-		232,093
	Commercial and industrial		-			-			-			-			-		-
	Consumer and other loans		1,338			-			-			-			-		1,338
	Total	$	228,966		$	1,654		$	225		$	2,586		$	-	$	233,431
	Acquired loans:
	31-Mar-15	Pass			Pass-Watch			Special			Substandard			Doubtful		Total
								Mention
	Real estate loans:
	One-to-four family	$	38,064		$	5,437		$	1,405		$	4,186		$	-	$	49,092
	Multi-family		2,356			-			-			-			-		2,356
	Home equity		8,063			214			174			160			-		8,611
	Nonresidential		6,513			4,961			1,627			2,567			283		15,951
	Agricultural		1,239			433			1,030			1,476			-		4,178
	Construction and land		5,358			914			490			808			-		7,570
	Total real estate loans		61,593			11,959			4,726			9,197			283		87,758
	Commercial and industrial		902			16			2			-			-		920
	Consumer and other loans		1,462			6			9			8			-		1,485
	Total	$	63,957		$	11,981		$	4,737		$	9,205		$	283	$	90,163
	30-Jun-14	Pass			Pass-Watch			Special			Substandard			Doubtful		Total
								Mention
	Real estate loans:
	One-to-four family	$	213,088		$	-		$	-		$	-		$	1,647	$	214,735
	Multi-family		254			-			-			-			-		254
	Home equity		227			-			-			-			-		227
	Nonresidential		8,408			-			-			-			-		8,408
	Agricultural		-			-			-			-			-		-
	Construction and land		7,661			-			-			-			-		7,661
	Total real estate loans		229,638			-			-			-			1,647		231,285
	Commercial and industrial		-			-			-			-			-		-
	Consumer and other loans		747			-			-			-			-		747
	Total	$	230,385		$	-		$	-		$	-		$	1,647	$	232,032
Schedule of loans acquired for as purchased credit impaired loans		March 31,
		2015
	Real estate loans:
	One-to-four family	$	3,800
	Multi-family		-
	Home equity		134
	Nonresidential		2,849
	Agricultural		1,476
	Construction and land		808
	Total real estate loans		9,067
	Commercial and industrial		-
	Consumer and other loans		-
	Total loans	$	9,067
		December 1,
		2014
	Contractually required payments receivable	$	21,774
	Contractual cash flows not expected to be collected (nonaccretable)		(10,213	)
	Expected cash flows		11,561
	Accretable yield		(620	)
	Fair value of acquired loans	$	10,941
Schedule of changes in the carrying value and accretable yield on purchased credit impaired loans
		Three Months Ended						Nine Months Ended
		Accretable			Carrying			Accretable			Carrying
		Yield			Value			Yield			Value
	Balance at beginning of period	$	(630	)	$	9,615		$	(642	)	$	9,671
	Subsequent adjustments		22			1,272			22			1,272
	Liquidations		-			(1,708	)		-			(1,708	)
	Reductions from payments		-			(53	)		-			(121	)
	Income		119			(55	)		131			(43	)
	Change in the allowance		-			(4	)		-			(4	)
	Balance at end of period	$	(489	)	$	9,067		$	(489	)	$	9,067
Schedule of carrying amount of purchased credit impaired loans		March 31,
		2015
	Balance at beginning of period:	$	3,743
	Reductions from payments and liquidations		(1,745	)
	Balance at end of period:	$	1,998

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Mar. 31, 2015
FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of assets and liabilities measured at fair value on a recurring basis			Fair Value Measurements
			(Level 2)			(Level 3)			(Level 2)
			31-Mar-15						June 30,
									2014
	Financial assets:
	Securities available-for-sale		$	103,513		$	-		$	103,806
	Loan servicing rights			-			1,319			-
	Total financial assets		$	103,513		$	1,319		$	103,806
Schedule of assets measured at fair value on a non-recurring basis			Fair Value Measurements
			(Level 3)			(Level 3)
			March 31,			June 30,
			2015			2014
	Financial assets:
	Impaired real estate loans, with specific allocations:
	One-to-four-family		$	764		$	1,221
	Non-financial assets:
	Real estate owned, net:
	One-to-four-family			1,366			744
	Nonresidential			365			-
	Construction and land			768			-
	Total non-financial assets			2,499			744
	Total assets measured at fair value on a non-recurring basis		$	3,263		$	1,965
Schedule of reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs Level 3			Fair Value Measurements
			(Level 3)
			Three Months			Nine Months
			Ended			Ended
	Balance at beginning of period:		$	1,341		$	-
	Purchases			-			1,369
	Total losses included in earnings			(22	)		(50	)
	Balance at end of period:		$	1,319		$	1,319
Schedule of valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis			Level 3 Quantitative Information
			31-Mar-15			June 30,			Valuation Technique		Unobservable Inputs	Range (Weighted
						2014						Average)
			Fair Value			Fair Value
	Impaired real estate loans net, with specific allocations:		$	764		$	1,221		Sales comparison approach		Adjustment for differences between the comparable sales	0% to 30% (15%)
	One-to-four family
	Real estate owned net:
	One-to-four-family		$	1,366		$	744		Sales comparison approach		Adjustment for differences between the comparable sales	0% to 20% (10%)
	Nonresidential			365			-		Sales comparison approach		Adjustment for differences between the comparable sales	0% to 20% (10%)
	Construction and land			768			-		Sales comparison approach		Adjustment for differences between the comparable sales	0% to 20% (10%)
Schedule of estimated fair values of remaining on-balance sheet financial instruments			31-Mar-15
			Carrying			Fair Value
			Amount			(Level 1)			(Level 2)			(Level 3)		Total
	Financial assets
	Securities available-for-sale		$	103,513		$	-		$	103,513		$	-	$	103,513
	Loans, net			322,351			-			-			324,177		324,177
	Loans held for sale (2)			733			-			-			733		733
	Loan servicing rights			1,319			-			-			1,319		1,319
	Restricted equity securities (1)			440			N/A			N/A			N/A		N/A
	Financial liabilities
	Deposits		$	400,777		$	135,731		$	265,197		$	-	$	400,928
			30-Jun-14
			Carrying			Fair Value
			Amount			(Level 1)			(Level 2)			(Level 3)		Total
	Financial assets
	Securities available-for-sale		$	103,806		$	-		$	103,806		$	-	$	103,806
	Loans, net			229,931			-			-			233,176		233,176
	Restricted equity securities (1)			325			N/A			N/A			N/A		N/A
	Financial liabilities
	Deposits		$	281,015		$	80,904		$	200,662		$	-	$	281,566
		-1	It was not practicable to determine fair value of restricted equity securities due to restrictions placed on transferability.
		-2	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 2 classification.

EMPLOYEE_STOCK_OWNERSHIP_PLAN_

EMPLOYEE STOCK OWNERSHIP PLAN (Tables)	9 Months Ended
	Mar. 31, 2015
EMPLOYEE STOCK OWNERSHIP PLAN
Schedule of shares held by the ESOP		31-Mar-15		30-Jun-14
	Committed to be released to participants		4,969		9,464
	Allocated to participants		85,248		57,902
	Unearned		158,625		181,476
	Total ESOP shares		248,842		248,842
	Fair value of unearned shares	$	3,183,609	$	3,277,457

STOCK_BASED_COMPENSATION_Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2015
STOCK BASED COMPENSATION
Summarizes stock option activity		Options			Weighted-			Weighted-			Aggregate
					Average			Average			Intrinsic
					Exercise			Remaining			Value (1)
					Price/Share			Contractual
								Life (in years)
	Outstanding - July 1, 2014		240,986		$	11.58
	Granted		7,700			20.01
	Exercised		-			-
	Forfeited		-			-
	Outstanding - March 31, 2015		248,686		$	11.84			7.12		$	2,046,433
	Fully vested and exercisable at March 31, 2015		85,528		$	11.58			7.12		$	726,133
	Expected to vest in future periods		163,158
	Fully vested and expected to vest - March 31, 2015		248,686		$	11.84			7.12		$	2,046,433
	(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 $20.07 per share on March 31, 2015.
Schedule of weighted-average fair value of options granted and assumptions used in the Black-Scholes-Merton option pricing model		Fiscal Years Granted
		2015			2014			2012
	Risk-free interest rate		1.68	%		2.32	%		1.54	%
	Expected dividend yield		2	%		2.33	%		3.45	%
	Expected stock volatility		15.91			15.5			15.3
	Expected life (years)		8			8			8
	Fair value	$	2.86		$	2.46		$	1
Summary of non-vested restricted stock activity		March 31,
		2015
	Balance - beginning of year		67,699
	Granted		12,600
	Forfeited		-
	Vested		(1,800	)
	Balance - end of period		78,499
	Weighted average grant date fair value	$	13.15

LOAN_SERVICING_RIGHTS_Tables

LOAN SERVICING RIGHTS (Tables)	9 Months Ended
	Mar. 31, 2015
Transfers and Servicing [Abstract]
Schedule of principal balance of loan		31-Mar-15
	Mortgage loan portfolio serviced for:
	FHLMC	$	141,653
		Three Months
		Ended
		31-Mar-15
	Loan servicing rights:
	Beginning of period:	$	1,341
	Additions		-
	Change in fair value		(22	)
	End of period:	$	1,319

SUPPLEMENTAL_CASH_FLOW_INFORMA1

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2015
SUPPLEMENTAL CASH FLOW INFORMATION
Schedule of supplemental cash flow information		March 31,		March 31,
		2015		2014
	Cash paid during the period for:
	Interest paid	$	932	$	1,158
	Income taxes paid	$	1,240	$	1,955
	Supplemental noncash disclosures:
	Transfers from loans to real estate owned	$	163	$	69
	Unrealized gains (losses) on securities available-for-sale, net	$	704	$	(79	)
	Transfer from securities held-to-maturity to available-for-sale	$	-	$	7,805
	Unrealized gains on securities held-to-maturity, transferred to available for sale	$	-	$	45
	Acquisition:
	Assets acquired (excluding goodwill of $2,870)	$	137,985	$	-
	Liabilities assumed	$	140,155	$	-
	Acquisition price (common stock issued to OFED, MHC)	$	700	$	-
	Goodwill recorded	$	2,870	$	-

BASIS_OF_PRESENTATION_Detail_T

BASIS OF PRESENTATION (Detail Textuals) (Oconee Federal, MHC)	Mar. 31, 2015
Oconee Federal, MHC
Basis of Presentation
Percentage of ownership in the entity	70.80%

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) (Core deposit intangible, USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Dec. 01, 2014
Core deposit intangible
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets amortized period	15 years
Fair value of finite lived intangible			$959
Amortization expense	44	59
Accumulated amortization of finite lived intangible assets	59	59
Finite lived intangible assets net of accumulated amortization	$900	$900

ACQUISITION_Details

ACQUISITION (Details) (USD $)	0 Months Ended
In Thousands, unless otherwise specified	Dec. 01, 2014		Mar. 31, 2015
Assets
Real estate owned, net			$3,392
Liabilities
Goodwill			2,870
As recorded by Stephens Federal | Stephens Federal
Assets
Cash and cash equivalents	24,079
Securities available-for-sale	2,720
Loans	103,166
Mortgage loans held for sale	572
Premises and equipment, net	5,308
Real estate owned, net	6,198
Accrued interest receivable	376
Restricted equity securities	143
Core deposit intangible
Loan servicing rights	1,409
Other assets	141
Total assets acquired	144,112
Liabilities
Deposits	139,160
Other liabilities	1,035
Total liabilities assumed	140,195
Initial Fair Value and Other Adjustments | Stephens Federal
Assets
Cash and cash equivalents
Securities available-for-sale
Loans	-6,742	[1]
Mortgage loans held for sale
Premises and equipment, net	-1,324	[2]
Real estate owned, net	-2,806	[3]
Accrued interest receivable
Restricted equity securities
Core deposit intangible
Loan servicing rights	-40	[4]
Other assets	4,091	[5]
Total assets acquired	-6,821
Liabilities
Deposits	54	[6]
Other liabilities
Total liabilities assumed	54
Subsequent Fair Value and Other Adjustments | Stephens Federal
Business Acquisition [Line Items]
Common stock at $18.95 per share, 36,945 shares
Assets
Cash and cash equivalents
Securities available-for-sale
Loans	-965	[7]
Mortgage loans held for sale
Premises and equipment, net
Real estate owned, net
Accrued interest receivable
Restricted equity securities
Core deposit intangible	959	[8]
Loan servicing rights
Other assets	700	[9]
Total assets acquired	694
Liabilities
Deposits
Other liabilities	-94	[10]
Total liabilities assumed	-94
Net liabilities assumed	788
Goodwill	-788	[11]
As Recorded by the Company | Stephens Federal
Business Acquisition [Line Items]
Common stock at $18.95 per share, 36,945 shares	700
Assets
Cash and cash equivalents	24,079
Securities available-for-sale	2,720
Loans	95,459
Mortgage loans held for sale	572
Premises and equipment, net	3,984
Real estate owned, net	3,392
Accrued interest receivable	376
Restricted equity securities	143
Core deposit intangible	959
Loan servicing rights	1,369
Other assets	4,932
Total assets acquired	137,985
Liabilities
Deposits	139,214
Other liabilities	941
Total liabilities assumed	140,155
Net liabilities assumed	-2,170
Goodwill	$2,870
[1]	The net fair value adjustment includes a total gross fair value adjustment of $8,892 to the unpaid principle balances of loans acquired, net of the existing allowance of $1,979, and deferred loans fees of $171. The gross fair value adjustment includes both credit, interest and liquidity components that comprise the entire discount. The fair value adjustment related to PCI loans was $6,676, and the fair value adjustment on purchased performing loans was $2,216. Based on an evaluation of the expected future cash flows for PCI loans, the accretable difference expected to be recognized into income as a yield adjustment on loans was $642. The entire discount on purchased performing loans will be accreted to income on a level-yield basis over each loan's contractual life.
[2]	Premises and equipment were adjusted to reflect recently appraised values of the land and buildings for each branch acquired and the Company's estimates of the fair value of furniture, fixtures and equipment.
[3]	The net adjustment reflects the fair value of real estate properties, less estimated costs to sell.
[4]	The adjustment reflects the fair value of loan servicing rights based upon the net present value of future servicing cash flows net of costs.
[5]	Represents adjustments in the net deferred tax assets resulting from the fair value adjustments related to the acquired assets and liabilities, identifiable intangibles and other deferred tax items. The fair value adjustment of the net deferred tax asset assumes an effective tax rate of approximately 36%.
[6]	The value adjustment to time deposits reflecting the differences in the contractual interest rates and those currently offered. The premium will be amortized into interest expense over a 3.7 year life using the straight line method.
[7]	Additional loans were identified as PCI, resulting in a net $578 increase in the fair value discount of those loans. Additionally, fair value estimates were updated on certain loans, increasing the fair value discount approximately $387.
[8]	The value for the core deposit intangible at December 1, 2014.
[9]	Change in other assets relate to changes in deferred taxes associated with the fair value discounts on PCI loans.
[10]	This adjustment represents an adjustment to amounts determined to be over accrued by Stephens Federal for FDIC premiums owed.
[11]	Changes to goodwill are a direct result of the adjustments to net assets acquired.

ACQUISITION_Details_1

ACQUISITION (Details 1) (USD $)	3 Months Ended	4 Months Ended	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014
Business Combinations [Abstract]
Net interest income	$4,140	$1,577	$12,660	$12,362
Noninterest income	215	374	1,255	1,219
Net income	1,229	404	4,161	3,553
Net income available to common shareholders	$1,217	$404	$4,117	$4,482
Pro-forma earnings per share:
Basic (in dollars per share)	$0.19		$0.73	$0.75
Diluted (in dollars per share)	$0.19		$0.73	$0.71

ACQUISITION_Details_Textuals

ACQUISITION (Details Textuals) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended		0 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Dec. 01, 2014
					Branch
Business Acquisition [Line Items]
Number of shares issued			36,945
Shares issued price per share	$18.95	$18.95	$18.95
Deferred loans fees			$3	($16)
Business acquisition transaction related costs	809	103	238
Stephens Federal
Business Acquisition [Line Items]
Total gross fair value adjustment					8,892
Existing allowance for loans acquired					1,979
Deferred loans fees					171
Fair value adjustment related to PCI loans					6,676
Increase in fair value discount due to additional loans identified as PCI					578
Increase in fair value discounts due to fair value estimates					387
Fair value adjustment on purchased performing loans					2,216
Accretable difference expected to be recognized into income					642
Effective tax rate for net deferred tax asset					36.00%
Premium amortization period					3 years 8 months 12 days
Number of branches					3
Stephens Federal | Common stock
Business Acquisition [Line Items]
Number of shares issued					36,945
Valuation of acquired entity					$700
Consecutive trading days for average closing price					20 days
Shares issued price per share					$18.95

EARNINGS_PER_SHARE_EPS_Details

EARNINGS PER SHARE ("EPS") (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Earnings per share
Net income	$1,196	$855	$3,267	$2,785
Less: distributed earnings allocated to participating securities	-8	-8	-22	-25
Less: (undistributed income) dividends in excess of earnings allocated to participating securities	-8	-4	-22	-17
Net earnings available to common shareholders	$1,180	$843	$3,223	$2,743
Weighted average common shares outstanding including participating securities	5,880,480	5,844,087	5,853,577	5,844,865
Less: participating securities	-78,499	-83,695	-78,499	-83,695
Less: average unearned ESOP shares	-161,110	-188,754	-170,051	-196,568
Weighted average common shares outstanding	5,640,871	5,571,638	5,605,027	5,564,602
Basic earnings per share (in dollars per share)	$0.21	$0.15	$0.58	$0.49
Weighted average common shares outstanding	5,640,871	5,571,638	5,605,027	5,564,602
Add: dilutive effects of assumed exercises of stock options	76,901	55,607	68,256	51,379
Average shares and dilutive potential common shares	5,717,772	5,627,245	5,673,283	5,615,981
Diluted earnings per share (in dollars per share)	$0.21	$0.15	$0.57	$0.49

EARNINGS_PER_SHARE_EPS_Detail_

EARNINGS PER SHARE ("EPS") (Detail Textuals)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Anti-dilutive shares	7,700	7,700	15,400	7,700

SECURITIES_AVAILABLEFORSALE_AN2

SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Available-for-sale:
Amortized Cost	$102,622	$104,046
Gross Unrealized Gains	1,239	956
Gross Unrealized Losses	-348	-1,196
Fair Value	103,513	103,806	[1]
Common Stock | FHLMC
Available-for-sale:
Amortized Cost	20	20
Gross Unrealized Gains	165	294
Gross Unrealized Losses
Fair Value	185	314
Preferred stock
Available-for-sale:
Amortized Cost		271	[2]
Gross Unrealized Gains		27	[2]
Gross Unrealized Losses			[2]
Fair Value		298	[2]
Certificates of deposit
Available-for-sale:
Amortized Cost	6,225	7,221
Gross Unrealized Gains	35	24
Gross Unrealized Losses	-2	-8
Fair Value	6,258	7,237
Municipal securities
Available-for-sale:
Amortized Cost	9,539	5,846
Gross Unrealized Gains	87	2
Gross Unrealized Losses	-25	-39
Fair Value	9,601	5,809
SBA loan pools
Available-for-sale:
Amortized Cost	2,511
Gross Unrealized Gains	19
Gross Unrealized Losses
Fair Value	2,530
U.S. Government agency mortgage-backed securities
Available-for-sale:
Amortized Cost	61,428	60,742
Gross Unrealized Gains	804	428
Gross Unrealized Losses	-274	-730
Fair Value	61,958	60,440
U.S. Government agency bonds
Available-for-sale:
Amortized Cost	22,899	29,946
Gross Unrealized Gains	129	181
Gross Unrealized Losses	-47	-419
Fair Value	$22,981	$29,708
[1]	Derived from audited consolidated financial statements
[2]	Consists of 300 shares of Southern First Bancshares, Inc. cumulative perpetual preferred stock, series T.

SECURITIES_AVAILABLEFORSALE_AN3

SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY (Details 1) (USD $)	Mar. 31, 2015		Jun. 30, 2014
In Thousands, unless otherwise specified	Securities		Securities
	Security		Security
Securities with unrealized losses
Less than 12 Months, Fair Value	$8,984		$16,208
Less than 12 Months, Unrealized Loss	-49		-76
Less than 12 Months, Number in Unrealized Loss	13	[1]	25	[1]
12 Months or More, Fair Value	19,300		34,038
12 Months or More, Unrealized Loss	-299		-1,120
12 Months or More, Number in Unrealized Loss	17	[1]	26	[1]
Total, Fair Value	28,284		50,246
Total, Unrealized Loss	-348		-1,196
Total, Number in Unrealized Loss	30	[1]	51	[1]
Certificates of deposit
Securities with unrealized losses
Less than 12 Months, Fair Value	497		1,237
Less than 12 Months, Unrealized Loss	-1		-8
Less than 12 Months, Number in Unrealized Loss	2	[1]	5	[1]
12 Months or More, Fair Value	248
12 Months or More, Unrealized Loss	-1
12 Months or More, Number in Unrealized Loss	1	[1]		[1]
Total, Fair Value	745		1,237
Total, Unrealized Loss	-2		-8
Total, Number in Unrealized Loss	3	[1]	5	[1]
Municipal securities
Securities with unrealized losses
Less than 12 Months, Fair Value	2,370		4,263
Less than 12 Months, Unrealized Loss	-25		-39
Less than 12 Months, Number in Unrealized Loss	7	[1]	11	[1]
12 Months or More, Fair Value
12 Months or More, Unrealized Loss
12 Months or More, Number in Unrealized Loss		[1]		[1]
Total, Fair Value	2,370		4,263
Total, Unrealized Loss	-25		-39
Total, Number in Unrealized Loss	7	[1]	11	[1]
SBA loan pools
Securities with unrealized losses
Less than 12 Months, Fair Value
Less than 12 Months, Unrealized Loss
Less than 12 Months, Number in Unrealized Loss		[1]
12 Months or More, Fair Value
12 Months or More, Unrealized Loss
12 Months or More, Number in Unrealized Loss		[1]
Total, Fair Value
Total, Unrealized Loss
Total, Number in Unrealized Loss		[1]
U.S. Government agency mortgage-backed securities
Securities with unrealized losses
Less than 12 Months, Fair Value	6,117		7,241
Less than 12 Months, Unrealized Loss	-23		-24
Less than 12 Months, Number in Unrealized Loss	4	[1]	6	[1]
12 Months or More, Fair Value	12,105		21,464
12 Months or More, Unrealized Loss	-251		-706
12 Months or More, Number in Unrealized Loss	12	[1]	18	[1]
Total, Fair Value	18,222		28,705
Total, Unrealized Loss	-274		-730
Total, Number in Unrealized Loss	16	[1]	24	[1]
U.S. Government agency bonds
Securities with unrealized losses
Less than 12 Months, Fair Value			3,467
Less than 12 Months, Unrealized Loss			-5
Less than 12 Months, Number in Unrealized Loss		[1]	3	[1]
12 Months or More, Fair Value	6,947		12,574
12 Months or More, Unrealized Loss	-47		-414
12 Months or More, Number in Unrealized Loss	4	[1]	8	[1]
Total, Fair Value	6,947		16,041
Total, Unrealized Loss	($47)		($419)
Total, Number in Unrealized Loss	4	[1]	11	[1]
[1]	Actual amounts.

SECURITIES_AVAILABLEFORSALE_AN4

SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY (Details 2) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Amortized Cost
Less than one year	$3,748	$4,002
Due from one to five years	11,969	18,717
Due from five to ten years	19,605	13,297
Due after ten years	3,341	6,997
Mortgage-backed securities	63,939	60,742
Total	102,602	103,755
Fair Value
Less than one year	3,772	4,029
Due from one to five years	12,027	18,836
Due from five to ten years	19,694	13,047
Due after ten years	3,347	6,842
Mortgage-backed securities	64,488	60,440
Total	$103,328	$103,194

SECURITIES_AVAILABLEFORSALE_AN5

SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY (Details 3) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Available-for-sale:
Proceeds	$4,604	$3,420	$11,025	$14,278
Gross gains	120	70	149	163
Gross losses				-30
Held-to-maturity
Proceeds				2,270
Gross gains				82
Gross losses
Total:
Proceeds	4,604	3,420	11,025	16,548
Gross gains	120	70	149	245
Gross losses				($30)

SECURITIES_AVAILABLEFORSALE_AN6

SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY (Detail Textuals) (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Jun. 30, 2014	Mar. 31, 2015
	Security
Investment Holdings [Line Items]
Number of securities classified as held-to-maturity sold during the period	2
Amortized cost of transferred securities	$7,800
Unrealized gross gains of transferred securities	56
Unrealized gross losses of transferred securities	11
Net unrealized gain recorded as other comprehensive income at the time of transfer	45
Securities pledged to secure public deposits	$5,972
Cumulative perpetual preferred stock, series T | Southern First Bancshares, Inc.
Investment Holdings [Line Items]
Cumulative perpetual preferred stock		300
GNMA mortgage-backed security
Investment Holdings [Line Items]
Number of securities classified as held-to-maturity sold during the period	1
Minimum percentage of original principal amount paid on mortgage-backed security	85.00%
U.S. Government and its agencies
Investment Holdings [Line Items]
Percentage holdings of securities greater than shareholders' equity		10.00%	10.00%

LOANS_Details

LOANS (Details) (Loans receivable, USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Loans
Total loans	$323,594	$232,032
Net deferred loan fees	-1,243	-1,246
Net loans	322,351	230,786
Real estate loans
Loans
Total loans	319,852	231,285
One-to-four family
Loans
Total loans	265,810	214,735
Multi-family
Loans
Total loans	2,606	254
Home equity
Loans
Total loans	8,778	227
Nonresidential
Loans
Total loans	23,650	8,408
Agricultural
Loans
Total loans	4,178
Construction and land
Loans
Total loans	14,830	7,661
Commercial and industrial
Loans
Total loans	920
Consumer and other loans
Loans
Total loans	$2,822	$747

LOANS_Details_2

LOANS (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015		Mar. 31, 2014
Change in allowance for loan losses during the period
Beginning balance			$855	[1]
Provision for loan losses	-7	-41	-16		-82
Ending balance	869		869
Loans receivable
Change in allowance for loan losses during the period
Beginning balance	864	788	855		751
Provision for loan losses	7	41	16		82
Charge-offs	-2		-2		-4
Recoveries
Ending balance	869	829	869		829
Loans receivable | Real estate loans
Change in allowance for loan losses during the period
Beginning balance	863	787	852		749
Provision for loan losses	5	40	16		82
Charge-offs					-4
Recoveries
Ending balance	868	827	868		827
Loans receivable | One-to-four family
Change in allowance for loan losses during the period
Beginning balance	782	701	736		665
Provision for loan losses	7	39	53		79
Charge-offs					-4
Recoveries
Ending balance	789	740	789		740
Loans receivable | Multi-family
Change in allowance for loan losses during the period
Beginning balance	4	4	4		4
Provision for loan losses
Charge-offs
Recoveries
Ending balance	4	4	4		4
Loans receivable | Home equity
Change in allowance for loan losses during the period
Beginning balance	1	1	1		1
Provision for loan losses
Charge-offs
Recoveries
Ending balance	1	1	1		1
Loans receivable | Nonresidential
Change in allowance for loan losses during the period
Beginning balance	50	51	52		52
Provision for loan losses	-1		-3		-1
Charge-offs
Recoveries
Ending balance	49	51	49		51
Loans receivable | Agricultural
Change in allowance for loan losses during the period
Beginning balance
Provision for loan losses
Charge-offs
Recoveries
Ending balance
Loans receivable | Construction and land
Change in allowance for loan losses during the period
Beginning balance	26	30	59		27
Provision for loan losses	-1	1	-34		4
Charge-offs
Recoveries
Ending balance	25	31	25		31
Loans receivable | Commercial and industrial
Change in allowance for loan losses during the period
Beginning balance
Provision for loan losses
Charge-offs
Recoveries
Ending balance
Loans receivable | Consumer and other loans
Change in allowance for loan losses during the period
Beginning balance	1	1	3		2
Provision for loan losses	2	1
Charge-offs	-2		-2
Recoveries
Ending balance	$1	$2	$1		$2
[1]	Derived from audited consolidated financial statements

LOANS_Details_3

LOANS (Details 3) (Loans receivable, USD $)	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Ending Allowance on Loans:
Individually Evaluated for Impairment	$66	$52	$81
Collectively Evaluated for Impairment	803	803	748
Loans:
Individually Evaluated for Impairment	12,068	1,647	2,470
Collectively Evaluated for Impairment	311,526	230,385	225,070
Real estate loans
Ending Allowance on Loans:
Individually Evaluated for Impairment	66	52	81
Collectively Evaluated for Impairment	802	800	746
Loans:
Individually Evaluated for Impairment	12,068	1,647	2,470
Collectively Evaluated for Impairment	307,784	229,638	224,387
One-to-four family
Ending Allowance on Loans:
Individually Evaluated for Impairment	63	52	81
Collectively Evaluated for Impairment	727	684	659
Loans:
Individually Evaluated for Impairment	6,772	1,647	2,470
Collectively Evaluated for Impairment	259,038	213,088	205,331
Multi-family
Ending Allowance on Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	4	4	4
Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	2,606	254	253
Home equity
Ending Allowance on Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	1	1	1
Loans:
Individually Evaluated for Impairment	160
Collectively Evaluated for Impairment	8,618	227	239
Nonresidential
Ending Allowance on Loans:
Individually Evaluated for Impairment	3
Collectively Evaluated for Impairment	46	52	51
Loans:
Individually Evaluated for Impairment	2,852
Collectively Evaluated for Impairment	20,798	8,408	8,567
Agricultural
Ending Allowance on Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment
Loans:
Individually Evaluated for Impairment	1,476
Collectively Evaluated for Impairment	2,702
Construction and land
Ending Allowance on Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	24	59	31
Loans:
Individually Evaluated for Impairment	808
Collectively Evaluated for Impairment	14,022	7,661	9,997
Commercial and industrial
Ending Allowance on Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment
Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	920
Consumer and other loans
Ending Allowance on Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	1	3	2
Loans:
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$2,822	$747	$683

LOANS_Details_4

LOANS (Details 4) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jun. 30, 2014	Dec. 31, 2014
With recorded allowance:
Related Allowance	$63	$52
Total:
Unpaid Principal Balance			1,156
Related Allowance	63	52
Loans receivable
With no recorded allowance:
Unpaid Principal Balance	15,891	374
Recorded Investment	10,384	374
Average Recorded Investment	5,380	1,054
Interest Income Recognized	125	8
With recorded allowance:
Unpaid Principal Balance	2,443	1,273
Recorded Investment	1,684	1,273
Related Allowance	66	52
Average Recorded Investment	1,479	763
Interest Income Recognized	45	9
Total:
Unpaid Principal Balance	18,334	1,647
Recorded Investment	12,068	1,647
Related Allowance	66	52
Average Recorded Investment	6,859	1,817
Interest Income Recognized	172	17
Loans receivable | Real estate loans
With no recorded allowance:
Unpaid Principal Balance	15,891	374
Recorded Investment	10,384	374
Average Recorded Investment	5,380	1,054
Interest Income Recognized	125	8
With recorded allowance:
Unpaid Principal Balance	2,443	1,273
Recorded Investment	1,684	1,273
Related Allowance	66	52
Average Recorded Investment	1,479	763
Interest Income Recognized	45	9
Total:
Unpaid Principal Balance	18,334	1,647
Recorded Investment	12,068	1,647
Related Allowance	66	52
Average Recorded Investment	6,859	1,817
Interest Income Recognized	172	17
Loans receivable | One-to-four family
With no recorded allowance:
Unpaid Principal Balance	7,414	374
Recorded Investment	6,008	374
Average Recorded Investment	3,191	1,054
Interest Income Recognized	59	8
With recorded allowance:
Unpaid Principal Balance	992	1,273
Recorded Investment	764	1,273
Related Allowance	63	52
Average Recorded Investment	1,019	763
Interest Income Recognized	24	9
Total:
Related Allowance	63	52
Loans receivable | Multi-family
With no recorded allowance:
Unpaid Principal Balance
Recorded Investment
Average Recorded Investment
Interest Income Recognized
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Related Allowance
Loans receivable | Home equity
With no recorded allowance:
Unpaid Principal Balance	256
Recorded Investment	160
Average Recorded Investment	80
Interest Income Recognized	1
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Related Allowance
Loans receivable | Nonresidential
With no recorded allowance:
Unpaid Principal Balance	3,836
Recorded Investment	1,931
Average Recorded Investment	966
Interest Income Recognized	26
With recorded allowance:
Unpaid Principal Balance	1,451
Recorded Investment	920
Related Allowance	3
Average Recorded Investment	460
Interest Income Recognized	21
Total:
Related Allowance	3
Loans receivable | Agricultural
With no recorded allowance:
Unpaid Principal Balance	2,912
Recorded Investment	1,476
Average Recorded Investment	738
Interest Income Recognized	25
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Related Allowance
Loans receivable | Construction and land
With no recorded allowance:
Unpaid Principal Balance	1,473
Recorded Investment	809
Average Recorded Investment	405
Interest Income Recognized	14
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Related Allowance
Loans receivable | Commercial and industrial
With no recorded allowance:
Unpaid Principal Balance
Recorded Investment
Average Recorded Investment
Interest Income Recognized
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Related Allowance
Loans receivable | Consumer and other loans
With no recorded allowance:
Unpaid Principal Balance
Recorded Investment
Average Recorded Investment
Interest Income Recognized
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized

LOANS_Details_5

LOANS (Details 5) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014
Aging of the recorded investment in past due loans by portfolio class of loans
Unpaid Principal Balance			$1,156
Fair value discount	656
Agricultural
Aging of the recorded investment in past due loans by portfolio class of loans
Recorded investment in a troubled debt restructuring	501	501
Loans receivable
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due	5,806	5,806		4,943
60-89 Days Past Due	1,645	1,645		893
90 Days or More Past Due	4,588	4,588		1,053
Total Past Due	12,039	12,039		6,889
Current	311,555	311,555		225,143
Total loans	323,594	323,594		232,032
Accruing loans past due 90 days or more
Loan-to-value ratio for owner-occupied loans (as a percent)		80.00%
Nonaccrual loans	4,768	4,768		1,647
Carrying amount of nonaccrual loan in 90 days or more due category	4,588	4,588
Period past due for non-accrual status		90 days
Carrying amount of nonaccrual loan in 60-89 days past due category	180	180		220
Carrying amount of nonaccrual loan in 30-59 days past due category				374
Unpaid Principal Balance	18,334	18,334		1,647
Modified principal maount of Troubled Debt Restructurings	159	159
Loans receivable | Real estate loans
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due	5,805	5,805		4,943
60-89 Days Past Due	1,645	1,645		893
90 Days or More Past Due	4,588	4,588		1,053
Total Past Due	12,038	12,038		6,889
Current	307,814	307,814		224,396
Total loans	319,852	319,852		231,285
Accruing loans past due 90 days or more
Unpaid Principal Balance	18,334	18,334		1,647
Loans receivable | One-to-four family
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due	4,893	4,893		4,856
60-89 Days Past Due	1,110	1,110		893
90 Days or More Past Due	3,565	3,565		1,053
Total Past Due	9,568	9,568		6,802
Current	256,242	256,242		207,933
Total loans	265,810	265,810		214,735
Accruing loans past due 90 days or more
Loan-to-value ratio for owner-occupied loans (as a percent)		80.00%
Loans receivable | Multi-family
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due
60-89 Days Past Due
90 Days or More Past Due
Total Past Due
Current	2,606	2,606		254
Total loans	2,606	2,606		254
Accruing loans past due 90 days or more
Amortization period of financing receivable		30 years
Loans made as a percentage of lesser of appraised value or purchase price		75.00%
Loans receivable | Multi-family | Maximum
Aging of the recorded investment in past due loans by portfolio class of loans
Term of multi family real estate loans		5 years
Loans receivable | Home equity
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due	102	102
60-89 Days Past Due	35	35
90 Days or More Past Due	27	27
Total Past Due	164	164
Current	8,614	8,614		227
Total loans	8,778	8,778		227
Accruing loans past due 90 days or more
Loan-to-value ratio for owner-occupied loans (as a percent)		80.00%
Loans receivable | Home equity | Maximum
Aging of the recorded investment in past due loans by portfolio class of loans
Amortization period of financing receivable		20 years
Term of home equity loans		10 years
Loans receivable | Nonresidential
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due	632	632		87
60-89 Days Past Due	500	500
90 Days or More Past Due	806	806
Total Past Due	1,938	1,938		87
Current	21,712	21,712		8,321
Total loans	23,650	23,650		8,408
Accruing loans past due 90 days or more
Loan-to-value ratio for owner-occupied loans (as a percent)		75.00%
Loans receivable | Nonresidential | Minimum
Aging of the recorded investment in past due loans by portfolio class of loans
Term of non residential real estate loans		5 years
Loans receivable | Nonresidential | Maximum
Aging of the recorded investment in past due loans by portfolio class of loans
Amortization period of financing receivable		20 years
Term of non residential real estate loans		20 years
Loans receivable | Agricultural
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due
60-89 Days Past Due
90 Days or More Past Due
Total Past Due
Current	4,178	4,178
Total loans	4,178	4,178
Accruing loans past due 90 days or more
Loan-to-value ratio of agricultural loans		75.00%
Loans receivable | Agricultural | Minimum
Aging of the recorded investment in past due loans by portfolio class of loans
Term of agricultural loans		5 years
Loans receivable | Agricultural | Maximum
Aging of the recorded investment in past due loans by portfolio class of loans
Amortization period of financing receivable		20 years
Term of agricultural loans		20 years
Loans receivable | Construction and land
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due	178	178
60-89 Days Past Due
90 Days or More Past Due	190	190
Total Past Due	368	368
Current	14,462	14,462		7,661
Total loans	14,830	14,830		7,661
Accruing loans past due 90 days or more
Loan-to-value ratio for owner-occupied loans (as a percent)		80.00%
Loans receivable | Construction and land | Maximum
Aging of the recorded investment in past due loans by portfolio class of loans
Term of construction and land loans		10 years
Loan-to-value ratio of loans secured by land for improved lots (as a percent)		75.00%
Loan-to-value ratio of loans secured by land for unimproved land (as a percent)		65.00%
Loans receivable | Commercial and industrial
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due
60-89 Days Past Due
90 Days or More Past Due
Total Past Due
Current	920	920
Total loans	920	920
Accruing loans past due 90 days or more
Loans receivable | Consumer and other loans
Aging of the recorded investment in past due loans by portfolio class of loans
30-59 Days Past Due	1	1
60-89 Days Past Due
90 Days or More Past Due
Total Past Due	1	1
Current	2,821	2,821		747
Total loans	2,822	2,822		747
Accruing loans past due 90 days or more
Term of financing receivable for unsecured loans		36 months
Term of financing receivable for secured by marketable securities		12 months
Unpaid Principal Balance
Loans receivable | Consumer and other loans | Minimum
Aging of the recorded investment in past due loans by portfolio class of loans
Term of financing receivable for secured by vehicle		18 months
Loans receivable | Consumer and other loans | Maximum
Aging of the recorded investment in past due loans by portfolio class of loans
Term of financing receivable for secured by vehicle		60 months

LOANS_Details_6

LOANS (Details 6) (Loans receivable, USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$323,594	$232,032
Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	319,852	231,285
One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	265,810	214,735
Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,606	254
Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	8,778	227
Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	23,650	8,408
Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,178
Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	14,830	7,661
Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	920
Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,822	747
Originated Loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	233,431
Originated Loans | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	232,093
Originated Loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	216,574
Originated Loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	250
Originated Loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	166
Originated Loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	7,697
Originated Loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	7,406
Originated Loans | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,338
Originated Loans | Pass
Loan grade for each loan by portfolio segment and class
Loans, gross amount	228,966
Originated Loans | Pass | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	227,628
Originated Loans | Pass | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	212,137
Originated Loans | Pass | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	250
Originated Loans | Pass | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	155
Originated Loans | Pass | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	7,697
Originated Loans | Pass | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Pass | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	7,389
Originated Loans | Pass | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Pass | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,338
Originated Loans | Pass Watch
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,654
Originated Loans | Pass Watch | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,654
Originated Loans | Pass Watch | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,626
Originated Loans | Pass Watch | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Pass Watch | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	11
Originated Loans | Pass Watch | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Pass Watch | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Pass Watch | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	17
Originated Loans | Pass Watch | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Pass Watch | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Special mention
Loan grade for each loan by portfolio segment and class
Loans, gross amount	225
Originated Loans | Special mention | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	225
Originated Loans | Special mention | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	225
Originated Loans | Special mention | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Special mention | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Special mention | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Special mention | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Special mention | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Special mention | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Special mention | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Substandard
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,586
Originated Loans | Substandard | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,586
Originated Loans | Substandard | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,586
Originated Loans | Substandard | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Substandard | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Substandard | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Substandard | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Substandard | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Substandard | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Substandard | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Originated Loans | Doubtful | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	90,163	232,032
Acquired Loans | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	87,758	231,285
Acquired Loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	49,092	214,735
Acquired Loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,356	254
Acquired Loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	8,611	227
Acquired Loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	15,951	8,408
Acquired Loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,178
Acquired Loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	7,570	7,661
Acquired Loans | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	920
Acquired Loans | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,485	747
Acquired Loans | Pass
Loan grade for each loan by portfolio segment and class
Loans, gross amount	63,957	230,385
Acquired Loans | Pass | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	61,593	229,638
Acquired Loans | Pass | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	38,064	213,088
Acquired Loans | Pass | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,356	254
Acquired Loans | Pass | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	8,063	227
Acquired Loans | Pass | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	6,513	8,408
Acquired Loans | Pass | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,239
Acquired Loans | Pass | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	5,358	7,661
Acquired Loans | Pass | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	902
Acquired Loans | Pass | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,462	747
Acquired Loans | Pass Watch
Loan grade for each loan by portfolio segment and class
Loans, gross amount	11,981
Acquired Loans | Pass Watch | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	11,959
Acquired Loans | Pass Watch | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	5,437
Acquired Loans | Pass Watch | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Pass Watch | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	214
Acquired Loans | Pass Watch | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,961
Acquired Loans | Pass Watch | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	433
Acquired Loans | Pass Watch | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	914
Acquired Loans | Pass Watch | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	16
Acquired Loans | Pass Watch | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	6
Acquired Loans | Special mention
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,737
Acquired Loans | Special mention | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,726
Acquired Loans | Special mention | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,405
Acquired Loans | Special mention | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Special mention | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	174
Acquired Loans | Special mention | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,627
Acquired Loans | Special mention | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,030
Acquired Loans | Special mention | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	490
Acquired Loans | Special mention | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2
Acquired Loans | Special mention | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	9
Acquired Loans | Substandard
Loan grade for each loan by portfolio segment and class
Loans, gross amount	9,205
Acquired Loans | Substandard | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	9,197
Acquired Loans | Substandard | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,186
Acquired Loans | Substandard | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Substandard | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	160
Acquired Loans | Substandard | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,567
Acquired Loans | Substandard | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,476
Acquired Loans | Substandard | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	808
Acquired Loans | Substandard | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Substandard | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	8
Acquired Loans | Doubtful
Loan grade for each loan by portfolio segment and class
Loans, gross amount	283	1,647
Acquired Loans | Doubtful | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	283	1,647
Acquired Loans | Doubtful | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount		1,647
Acquired Loans | Doubtful | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Doubtful | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Doubtful | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	283
Acquired Loans | Doubtful | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Doubtful | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Doubtful | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Acquired Loans | Doubtful | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount

LOANS_Details_7

LOANS (Details 7) (Loans receivable, USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	$9,067
Carrying amounts net of an allowance for loan losses	4
Real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	9,067
One-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	3,800
Multi-family
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount
Home equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	134
Nonresidential
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	2,849
Agricultural
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	1,476
Construction and land
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	808
Commercial and industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount
Consumer and other loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount

LOANS_Details_8

LOANS (Details 8) (Loans receivable, USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015
Loans receivable
Accretable Yield
Balance at beginning of period, Accretable Yield	($630)	($642)
Subsequent adjustments, Accretable Yield	22	22
Liquidations, Accretable Yield
Reductions from payments, Accretable Yield
Income, Accretable Yield	119	131
Change in the allowance, Accretable Yield
Balance at end of period, Accretable Yield	-489	-489
Carrying Value
Balance at beginning of period, Carrying Value	9,615	9,671
Subsequent adjustments, Carrying Value	1,272	1,272
Liquidations, Carrying Value	-1,708	-1,708
Reductions from payments, Carrying Value	-53	-121
Income, Carrying Value	-55	-43
Change in the allowance, Carrying Value	-4	-4
Balance at end of period, Carrying Value	$9,067	$9,067

LOANS_Details_9

LOANS (Details 9) (Loans receivable, USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Loans receivable
Loans
Contractually required payments receivable	$21,774
Contractual cash flows not expected to be collected (nonaccretable)	-10,213
Expected cash flows	11,561
Accretable yield	-620
Fair value of acquired loans	$10,941

LOANS_Details_10

LOANS (Details 10) (Loans receivable, USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Loans receivable
Certain Loans Acquired In Transfer Accounted For As Debt Securities Future Cash Flow Not Estimable [Roll Forward]
Balance at beginning of period:	$3,743
Purchased	-1,745
Balance at end of the period:	1,998
Interest income recognized on a cost recovery basis	$4

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Financial assets:
Securities available-for-sale	$103,513	$103,806	[1]
Level 2
Financial assets:
Securities available-for-sale	103,513	103,806
Loan servicing rights
Level 3
Financial assets:
Securities available-for-sale
Loan servicing rights	1,319
Recurring basis | Level 2
Financial assets:
Securities available-for-sale	103,513	103,806
Loan servicing rights
Total financial assets	103,513	103,806
Recurring basis | Level 3
Financial assets:
Securities available-for-sale
Loan servicing rights	1,319
Total financial assets	$1,319
[1]	Derived from audited consolidated financial statements

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 1) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Impaired real estate loans, with specific allocations:
Loans, net	$764	$1,221
Level 3
Impaired real estate loans, with specific allocations:
Loans, net	324,177	233,176
Non-recurring basis | Level 3
Real estate owned, net:
Total non-financial assets	2,499	744
Total assets measured at fair value on a non-recurring basis	3,263	1,965
Non-recurring basis | Level 3 | One-to-four family
Real estate owned, net:
Total non-financial assets	1,366	744
Non-recurring basis | Level 3 | One-to-four family | Impaired loans
Impaired real estate loans, with specific allocations:
Loans, net	764	1,221
Non-recurring basis | Level 3 | Nonresidential
Real estate owned, net:
Total non-financial assets	365
Non-recurring basis | Level 3 | Construction and land
Real estate owned, net:
Total non-financial assets	$768

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) (Recurring basis, Level 3, USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015
Recurring basis | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period:	$1,341
Purchases		1,369
Total losses included in earnings	-22	-50
Balance at end of period:	$1,319	$1,319

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jun. 30, 2014
Valuation techniques
Impaired real estate loans net, with specific allocations	764	$1,221
Real estate owned	2,499	744	[1]
Level 3
Valuation techniques
Impaired real estate loans net, with specific allocations	324,177	233,176
Non-recurring basis | Level 3 | One-to-four family | Sales comparison approach
Valuation techniques
Real estate owned	1,366	744
Non-recurring basis | Level 3 | One-to-four family | Sales comparison approach | Minimum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	0.00%
Non-recurring basis | Level 3 | One-to-four family | Sales comparison approach | Maximum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	20.00%
Non-recurring basis | Level 3 | One-to-four family | Sales comparison approach | Weighted Average
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	10.00%
Non-recurring basis | Level 3 | One-to-four family | Impaired loans
Valuation techniques
Impaired real estate loans net, with specific allocations	764	1,221
Non-recurring basis | Level 3 | One-to-four family | Impaired loans | Sales comparison approach
Valuation techniques
Impaired real estate loans net, with specific allocations	764	1,221
Non-recurring basis | Level 3 | One-to-four family | Impaired loans | Sales comparison approach | Minimum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	0.00%
Non-recurring basis | Level 3 | One-to-four family | Impaired loans | Sales comparison approach | Maximum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	30.00%
Non-recurring basis | Level 3 | One-to-four family | Impaired loans | Sales comparison approach | Weighted Average
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	15.00%
Non-recurring basis | Level 3 | Nonresidential | Sales comparison approach
Valuation techniques
Real estate owned	365
Non-recurring basis | Level 3 | Nonresidential | Sales comparison approach | Minimum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	0.00%
Non-recurring basis | Level 3 | Nonresidential | Sales comparison approach | Maximum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	20.00%
Non-recurring basis | Level 3 | Nonresidential | Sales comparison approach | Weighted Average
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	10.00%
Non-recurring basis | Level 3 | Construction and land | Sales comparison approach
Valuation techniques
Real estate owned	768
Non-recurring basis | Level 3 | Construction and land | Sales comparison approach | Minimum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	0.00%
Non-recurring basis | Level 3 | Construction and land | Sales comparison approach | Maximum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	20.00%
Non-recurring basis | Level 3 | Construction and land | Sales comparison approach | Weighted Average
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	10.00%
[1]	Derived from audited consolidated financial statements

FAIR_VALUE_OF_FINANCIAL_INSTRU6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) (USD $)	Mar. 31, 2015		Jun. 30, 2014
In Thousands, unless otherwise specified
Financial assets
Securities available-for-sale	$103,513		$103,806	[1]
Loans, net	764		1,221
Carrying Amount
Financial assets
Securities available-for-sale	103,513		103,806
Loans, net	322,351		229,931
Loans held for sale	733	[2]
Loan servicing rights	1,319
Restricted equity securities	440	[3]	325	[3]
Financial liabilities
Deposits	400,777		281,015
Level 1
Financial assets
Securities available-for-sale
Loans, net
Loans held for sale		[2]
Loan servicing rights
Restricted equity securities		[3]		[3]
Financial liabilities
Deposits	135,731		80,904
Level 2
Financial assets
Securities available-for-sale	103,513		103,806
Loans, net
Loans held for sale		[2]
Loan servicing rights
Restricted equity securities		[3]		[3]
Financial liabilities
Deposits	265,197		200,662
Level 3
Financial assets
Securities available-for-sale
Loans, net	324,177		233,176
Loans held for sale	733	[2]
Loan servicing rights	1,319
Restricted equity securities		[3]		[3]
Financial liabilities
Deposits
Fair Value
Financial assets
Securities available-for-sale	103,513		103,806
Loans, net	324,177		233,176
Loans held for sale	733	[2]
Loan servicing rights	1,319
Restricted equity securities		[3]		[3]
Financial liabilities
Deposits	$400,928		$281,566
[1]	Derived from audited consolidated financial statements
[2]	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 2 classification.
[3]	It was not practicable to determine fair value of restricted equity securities due to restrictions placed on transferability.

FAIR_VALUE_OF_FINANCIAL_INSTRU7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail Textuals) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Jun. 30, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS
Loans receivable, fair value disclosure	$764	$764	$1,221
Valuation allowances of impaired loans	63	63	52
Provision for loan losses change in valuation allowance increase amount		16
Outstanding balance of real estate owned	2,499	2,499	80
Valuation allowance	744	744	164
Write downs of legacy real estate owned	112	112
Real estate owned, net	$3,392	$3,392

EMPLOYEE_STOCK_OWNERSHIP_PLAN_1

EMPLOYEE STOCK OWNERSHIP PLAN (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, except Share data, unless otherwise specified
Shares held by the ESOP
Committed to be released to participants	4,969	9,464
Allocated to participants	85,248	57,902
Unearned	158,625	181,476
Total ESOP shares	248,842	248,842
Fair value of unearned shares	$3,183,609	$3,277,457

EMPLOYEE_STOCK_OWNERSHIP_PLAN_2

EMPLOYEE STOCK OWNERSHIP PLAN (Detail Textuals) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2011
EMPLOYEE STOCK OWNERSHIP PLAN
Employee stock ownership plan employer loan for shares					248,842
Common stock share price					$10
Additional discretionary contribution to ESOP			$100
Additional compensation expense			140
ESOP compensation expense recognized	$91	$76	$384	$305

STOCK_BASED_COMPENSATION_Detai

STOCK BASED COMPENSATION (Details) (Stock options, USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Stock options
Options
Outstanding at the beginning of the period (in shares)	240,986
Granted (in shares)	7,700
Exercised (in shares)
Forfeited (in shares)
Outstanding at the end of the period (in shares)	248,686
Fully vested and exercisable at the end of the period (in shares)	85,528
Expected to vest in future periods (in shares)	163,158
Fully vested and expected to vest at the end of the period (in shares)	248,686
Weighted Average Exercise Price/Share
Outstanding at the beginning of the period (in dollars per share)	$11.58
Granted (in dollars per share)	$20.01
Exercised (in dollars per share)
Forfeited (in dollars per share)
Outstanding at the end of the period (in dollars per share)	$11.84
Fully vested and exercisable at the end of the period (in dollars per share)	$11.58
Fully vested and expected to vest at the end of the period (in dollars per share)	$11.84
Weighted Average Remaining Contractual Life (in years)
Outstanding at the end of the period	7 years 1 month 13 days
Fully vested and exercisable at the end of the period	7 years 1 month 13 days
Fully vested and expected to vest at the end of the period	7 years 1 month 13 days
Aggregate Intrinsic Value
Outstanding at the end of the period	$2,046,433	[1]
Fully vested and exercisable at the end of the period	726,133	[1]
Fully vested and expected to vest at the end of the period	$2,046,433	[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 $20.07 per share on March 31, 2015.

STOCK_BASED_COMPENSATION_Detai1

STOCK BASED COMPENSATION (Details 1) (Stock options, Weighted average, USD $)	9 Months Ended	12 Months Ended
	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2012
Stock options | Weighted average
Weighted average assumptions
Risk-free interest rate (as a percent)	1.68%	2.32%	1.54%
Expected dividend yield (as a percent)	2.00%	2.33%	3.45%
Expected stock volatility (as a percent)	15.91%	15.50%	15.30%
Expected life (years)	8 years	8 years	8 years
Fair value (in dollars per share)	$2.86	$2.46	$1

STOCK_BASED_COMPENSATION_Detai2

STOCK BASED COMPENSATION (Details 2) (USD $)	0 Months Ended		1 Months Ended		9 Months Ended
	Nov. 13, 2013	Apr. 27, 2012	Jan. 23, 2015	Jan. 25, 2015	Mar. 31, 2015	Mar. 31, 2014
Non-vested stock activity
Granted (in shares)					12,600	12,600
Restricted stock
Non-vested stock activity
Balance - beginning of year (in shares)					67,699
Granted (in shares)					12,600	12,600
Forfeited (in shares)
Vested (in shares)					-1,800
Balance - end of period (in shares)					78,499
Weighted average grant date fair value (in dollars per share)	$17.16	$11.58	$20.01	$20.01	$13.15	$17.16

STOCK_BASED_COMPENSATION_Detai3

STOCK BASED COMPENSATION (Detail Textuals) (USD $)	9 Months Ended		0 Months Ended		1 Months Ended	3 Months Ended		1 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Nov. 13, 2013	Apr. 27, 2012	Jan. 23, 2015	Mar. 31, 2015	Mar. 31, 2014	Jan. 25, 2015	Jun. 30, 2011	Apr. 05, 2012
Stock based compensation
Granted (in shares)	12,600	12,600
Stock-based compensation
Closing price (in dollars per share)									$10
Maximum | Common Stock
Stock based compensation
Shares authorized										435,472
Stock options
Stock based compensation
Granted (in shares)	7,700
Vesting period			7 years		7 years
Expiration period (in years)			10 years	10 years	10 years
Stock-based compensation
Options earned (in shares)	21,835	32,105
Stock-based compensation expense	34	33				$12	$11
Total unrecognized compensation cost related to stock options	143					143
Expected period for recognition	3 years
Stock options | Common Stock
Stock-based compensation
Closing price (in dollars per share)	20.07					$20.07
Stock options | Minimum
Stock based compensation
Vesting period				5 years
Stock options | Maximum
Stock based compensation
Shares authorized										311,052
Vesting period				7 years
Stock options | Weighted average
Stock based compensation
Vesting period				5 years 8 months 12 days
Stock options | Directors
Stock based compensation
Granted (in shares)				62,208
Stock options | Officers
Stock based compensation
Granted (in shares)			7,700	171,078	7,700
Restricted stock
Stock based compensation
Granted (in shares)			12,600
Granted (in shares)	12,600	12,600
Vesting period			7 years		7 years
Stock-based compensation
Stock-based compensation expense	169	151				60	53
Unrecognized compensation expense for nonvested restricted stock awards	872					872
Expected period for recognition	4 years 7 months 6 days
Total grant date fair value			216	1,009	252
Weighted average grant date fair value (in dollars per share)	13.15	17.16	17.16	11.58	20.01			$20.01
Restricted stock | Minimum
Stock based compensation
Vesting period				5 years
Restricted stock | Maximum
Stock based compensation
Shares authorized										124,420
Vesting period				7 years
Restricted stock | Weighted average
Stock based compensation
Vesting period				5 years 7 months 6 days
Restricted stock | Directors
Stock based compensation
Granted (in shares)				24,884
Restricted stock | Officers
Stock based compensation
Granted (in shares)			12,600	62,210	12,600

LOAN_SERVICING_RIGHTS_Details

LOAN SERVICING RIGHTS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Servicing Assets at Fair Value [Line Items]
Mortgage loan portfolio serviced	$1,319
Loan servicing rights:
Beginning of period:	1,341
Additions
Change in fair value	-22
End of period:	1,319
FHLMC
Servicing Assets at Fair Value [Line Items]
Mortgage loan portfolio serviced	$141,653

LOAN_SERVICING_RIGHTS_Detail_T

LOAN SERVICING RIGHTS (Detail Textuals) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Servicing Assets at Fair Value [Line Items]
Discount rate	9.50%
Weighted average default rate	0.61%
Minimum
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	7.00%
Maximum
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	19.80%
FHLMC
Servicing Assets at Fair Value [Line Items]
Custodial escrow balances	301

SUPPLEMENTAL_CASH_FLOW_INFORMA2

SUPPLEMENTAL CASH FLOW INFORMATION (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash paid during the period for:
Interest paid	$932	$1,158
Income taxes paid	1,240	1,955
Supplemental noncash disclosures:
Transfers from loans to real estate owned	163	69
Unrealized gains (losses) on securities available-for-sale, net	704	-79
Transfer from securities held-to-maturity to available-for-sale		7,805
Unrealized gains on securities held-to-maturity, transferred to available for sale		45
Acquisition:
Assets acquired (excluding goodwill of $2,870)	137,985
Liabilities assumed	140,155
Acquisition price (common stock issued to OFED, MHC)	700
Goodwill recorded	$2,870

SUPPLEMENTAL_CASH_FLOW_INFORMA3

SUPPLEMENTAL CASH FLOW INFORMATION (Parentheticals) (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
SUPPLEMENTAL CASH FLOW INFORMATION
Goodwill on acquisition	$2,870

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	3 Months Ended		9 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Apr. 30, 2015
SUBSEQUENT EVENTS
Dividends declared per share (in dollars per share)	$0.10	$0.10	$0.30	$0.30
Subsequent event | Dividend declared
SUBSEQUENT EVENTS
Dividends declared per share (in dollars per share)					$0.10
Dividends payable, date declared					30-Apr-15
Dividends payable, date of record					14-May-15
Dividends payable, date to be paid					28-May-15