Oconee Federal Financial (OFED) 10-Q 13 May 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2016	May. 13, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Oconee Federal Financial Corp.
Entity Central Index Key	1,501,078
Trading Symbol	ofed
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,871,465
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
ASSETS
Cash and due from banks	$ 4,294	$ 4,883
Interest-earning deposits	23,335	21,309
Total cash and cash equivalents	27,629	26,192
Securities available-for-sale	129,140	111,167
Loans	291,539	309,267
Allowance for loan losses	(1,157)	(1,008)
Net loans	290,382	308,259
Loans held for sale	385	118
Premises and equipment, net	6,913	7,058
Real estate owned, net	1,729	2,092
Accrued interest receivable
Loans	1,033	1,077
Investments	473	312
Restricted equity securities	433	440
Bank owned life insurance	17,428	9,044
Goodwill	2,593	2,593
Core deposit intangible	774	874
Loan servicing rights	1,168	1,396
Deferred tax assets	1,748	3,766
Other assets	832	956
Total assets	482,660	475,344
Deposits
Noninterest bearing	19,788	20,254
Interest bearing	377,523	373,839
Total deposits	397,311	394,093
Accrued interest payable and other liabilities	1,038	461
Total liabilities	398,349	394,554
SHAREHOLDERS' EQUITY
Common stock, $0.01 par value, 100,000,000 shares authorized; 5,871,465 and 5,882,140, shares outstanding, respectively	65	65
Treasury stock, $0.01 par value, 600,574 and 589,899 shares, respectively	(6)	(6)
Additional paid-in capital	13,440	13,354
Retained earnings	71,034	68,950
Accumulated other comprehensive income (loss)	1,088	(26)
Unearned ESOP shares	(1,310)	(1,547)
Total shareholders' equity	84,311	80,790
Total liabilities and shareholders' equity	$ 482,660	$ 475,344

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2016	Jun. 30, 2015
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	5,871,465	5,882,140
Treasury stock, par value (in dollars per share)	$ 0.01	$ 0.01
Treasury stock, shares	600,574	589,899

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Interest and dividend income:
Loans, including fees	$ 3,984	$ 4,047	$ 11,717	$ 10,267
Securities, taxable	458	404	1,278	1,155
Securities, tax-exempt	135	50	342	126
Interest-earning deposits and other	39	16	81	39
Total interest income	4,616	4,517	13,418	11,587
Interest expense:
Deposits	291	309	875	932
Total interest expense	291	309	875	932
Net interest income	4,325	4,208	12,543	10,655
Provision for loan losses	11	7	433	16
Net interest income after provision for loan losses	4,314	4,201	12,110	10,639
Noninterest income:
Service charges on deposit accounts	120	111	360	211
Income on bank owned life insurance	144	82	384	221
Mortgage banking income	95	147	286	181
Gain on sales of securities	94	120	104	149
Gain on disposition of purchase credit impaired loans			809
Gain on sales of real estate owned		27		63
Other	15	21	33	51
Total noninterest income	468	508	1,976	876
Noninterest expense:
Salaries and employee benefits	1,649	1,596	4,995	3,738
Occupancy and equipment	427	319	1,141	716
Data processing	144	135	403	309
Professional and supervisory fees	271	234	688	575
Office expense	68	109	167	196
Advertising	39	29	139	71
FDIC deposit insurance	56	78	164	154
Provision for real estate owned and related expenses	20	167	183	206
Loss on sales of real estate owned	8		68
Change in loan servicing asset	142	50	228	50
Other	206	186	533	408
Total noninterest expense	3,030	2,903	8,709	6,423
Income before income taxes	1,752	1,806	5,377	5,092
Income tax expense	359	610	1,596	1,825
Net income	1,393	1,196	3,781	3,267
Other comprehensive income
Unrealized gain on securities available-for-sale	1,642	993	1,846	1,280
Tax effect	(591)	(374)	(665)	(483)
Reclassification adjustment for gains realized in net income	(94)	(120)	(104)	(149)
Tax effect	34	45	37	56
Total other comprehensive income	991	544	1,114	704
Comprehensive income	$ 2,384	$ 1,740	$ 4,895	$ 3,971
Basic net income per share: (Note 3) (in dollars per share)	$ 0.24	$ 0.21	$ 0.66	$ 0.58
Diluted net income per share: (Note 3) (in dollars per share)	0.24	0.21	0.65	0.57
Dividends declared per share: (in dollars per share)	$ 0.10	$ 0.10	$ 0.30	$ 0.30

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands		Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unearned ESOP Shares	Total
Balance at Jun. 30, 2014		$ 64	$ (6)	$ 12,186	$ 66,705	$ (147)	$ (1,821)	$ 76,981
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					3,267			3,267
Other comprehensive income						704		704
Purchase of 1,800 and 17,675 shares of treasury stock for March 31, 2015 and March 31, 2016 respectively	[1]			(35)				$ (35)
Issuance of 12,600 and 7,000 shares of restricted stock for March 31, 2015 and March 31, 2016 respectively	[2]
Stock-based compensation expense				203				$ 203
Common stock issued, 36,945 shares	[3]	$ 1		699				700
Dividends	[4],[5]			25	(1,678)			(1,653)
ESOP shares earned				160			224	384
Balance at Mar. 31, 2015		65	(6)	13,238	68,294	557	(1,597)	80,551
Balance at Jun. 30, 2015		$ 65	(6)	13,354	68,950	(26)	(1,547)	80,790
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					3,781			3,781
Other comprehensive income						1,114		1,114
Purchase of 1,800 and 17,675 shares of treasury stock for March 31, 2015 and March 31, 2016 respectively	[6]			(342)				$ (342)
Issuance of 12,600 and 7,000 shares of restricted stock for March 31, 2015 and March 31, 2016 respectively	[7]
Stock-based compensation expense				213				$ 213
Dividends	[8],[9]			25	(1,697)			(1,672)
ESOP shares earned				190			237	427
Balance at Mar. 31, 2016		$ 65	$ (6)	$ 13,440	$ 71,034	$ 1,088	$ (1,310)	$ 84,311
[1]	The weighted average cost of treasury shares purchased during the nine months ended March 31, 2015 was $19.81 per share. Treasury stock repurchases were accounted for using the par value method.
[2]	On January 25, 2015, the Company granted 12,600 shares of restricted stock. The grant date fair value of these shares was $20.01.
[3]	36,945 shares issued to Oconee MHC at approximately $18.95 per share for the acquisition of Stephens Federal Bank.
[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 $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.
[5]	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.
[6]	The weighted average cost of treasury shares purchased during the nine months ended March 31, 2016 was $19.32 per share. Treasury stock repurchases were accounted for using the par value method.
[7]	On February 5, 2016, the Company granted 7,000 shares of restricted stock. The grant date fair value of these shares was $19.40.
[8]	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 8,500 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 8,500 shares was accounted for as additional compensation expense of approximately $74 for the nine months ended March 31, 2016.
[9]	Cash dividends declared on July 30, 2015 were paid on August 27, 2015. Cash dividends declared on October 29, 2015 were paid on November 27, 2015. Cash dividends declared on January 28, 2016 were paid on February 25, 2016.

CONSOLIDATED STATEMENTS OF CHA6

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parentheticals) - shares	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stock	17,675	1,800
Number of restricted stock granted	7,000	12,600
Common stock issued		36,945

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parentheticals 1) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Weighted average cost of treasury shares	$ 19.32	$ 19.81
Number of restricted stock granted	7,000	12,600
Grant date fair value of restricted stock	$ 19.40	$ 20.01
Cash dividends on ESOP shares	$ 99	$ 99
Number of additional shares released	8,500	8,000
Dividend paid on allocated shares	$ 25	$ 25
Release of shares upon dividend payment	8,500	8,000
Additional compensation expense	$ 74	$ 74
Shares issued for acquisition		36,945
Shares issued price per share		$ 18.95

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows From Operating Activities
Net income	$ 3,781	$ 3,267
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	433	16
Provision for real estate owned	110	112
Depreciation and amortization, net	1,077	782
Deferred loan costs, net	(212)	(3)
Deferred income tax expense	1,390	18
Net (gain) loss on sale of real estate owned	68	(63)
Change in loan servicing asset	228	50
Gain on sales of securities	(104)	(149)
Mortgage loans originated for sale	(3,579)	(1,734)
Mortgage loans sold	3,352	1,492
(Gain) loss on sales of mortgage loans	(40)	81
Increase in cash surrender value of bank owned life insurance	(360)	(221)
Gain on disposition of purchased credit impaired loans	(809)
ESOP compensation expense	427	384
Stock-based compensation expense	213	203
Net change in operating assets and liabilities:
Accrued interest receivable	(117)	(34)
Accrued interest payable	(9)
Other	686	(1,403)
Net cash provided by operating activities	6,535	2,798
Cash Flows From Investing Activities
Net cash received from acquisition of Stephens Federal		24,079
Purchases of premises and equipment	(221)	(340)
Disposal of premises and equipment	(37)	(340)
Purchases of securities available-for-sale	(40,008)	(23,009)
Proceeds from maturities, paydowns and calls of securities available-for-sale	17,094	14,654
Proceeds from sales of securities available-for-sale	6,213	11,025
Redemptions of restricted equity securities	7	27
Purchases of bank owned life insurance	(8,000)
Proceeds from sale of real estate owned	1,798	1,750
Dispositions of purchased credit impaired loans	3,251
Loan originations and repayments, net	13,601	3,732
Net cash (used in) provided by investing activities	(6,302)	31,578
Cash Flows from Financing Activities
Net change in deposits	3,218	(19,451)
Dividends paid	(1,672)	(1,653)
Purchase of treasury stock	(342)	(35)
Net cash provided by (used in) financing activities	1,204	(21,139)
Change in cash and cash equivalents	1,437	13,237
Cash and cash equivalents, beginning of year	26,192	11,890
Cash and cash equivalents, end of period	$ 27,629	$ 25,127

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2016
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 (70.93%) by Oconee Federal, MHC. These financial statements do not include the transactions and balances of Oconee Federal, MHC. On December 1, 2014, the Company acquired Stephens Federal Bank. The consolidated financial statements at March 31, 2016 and June 30, 2015 and for the three and nine months ended March 31, 2016 and 2015 are reflective of the addition of Stephens Federal Bank’s assets and liabilities. 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, 2016 and June 30, 2015 and the results of operations and cash flows for the interim periods ended March 31, 2016 and 2015. 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 Company’s Annual Report on Form 10-K for the year ended June 30, 2015. Certain amounts have been reclassified to conform to the current period presentation. The reclassifications had no effect on net income or shareholders’ equity as previously reported.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	9 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING STANDARDS	(2) NEW ACCOUNTING STANDARDS In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation, In February 2016, the FASB issued ASU 2016-02, Leases In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. i.e

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	9 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE ("EPS")	(3) 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, 2016 2015 2016 2015 Earnings per share Net income $ 1,393 $ 1,196 $ 3,781 $ 3,267 Less: distributed earnings allocated to participating securities (6 ) (8 ) (17 ) (22 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities (7 ) (8 ) (20 ) (22 ) Net earnings available to common shareholders $ 1,380 $ 1,180 $ 3,744 $ 3,223 Weighted average common shares outstanding including participating securities 5,877,820 5,880,480 5,881,993 5,853,577 Less: participating securities (56,902 ) (78,499 ) (56,902 ) (78,499 ) Less: average unearned ESOP shares (131,696 ) (161,110 ) (141,192 ) (170,051 ) Weighted average common shares outstanding 5,689,222 5,640,871 5,683,899 5,605,027 Basic earnings per share $ 0.24 $ 0.21 $ 0.66 $ 0.58 Weighted average common shares outstanding 5,689,222 5,640,871 5,683,899 5,605,027 Add: dilutive effects of assumed exercises of stock options 75,180 76,901 72,928 68,256 Average shares and dilutive potential common shares 5,764,402 5,717,772 5,756,827 5,673,283 Diluted earnings per share $ 0.24 $ 0.21 $ 0.65 $ 0.57 During the three months ended March 31, 2016 and 2015, 28,700 and 7,700 shares, respectively, were considered anti-dilutive as the exercise price was below the average market price for the respective periods. During the nine months ended March 31, 2016 and 2015, 28,700 and 15,400 shares, respectively, were considered anti-dilutive as the exercise price was below the average market price for the respective periods.

SECURITIES AVAILABLE-FOR-SALE

SECURITIES AVAILABLE-FOR-SALE	9 Months Ended
	Mar. 31, 2016
SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY
SECURITIES AVAILABLE-FOR-SALE	(4) SECURITIES AVAILABLE-FOR-SALE Debt, mortgage-backed and equity securities have been classified in the consolidated balance sheets according to management’s intent. U.S. Government agency mortgage-backed securities consist of securities issued by U.S. Government agencies and U.S. Government sponsored enterprises. Investment securities at March 31, 2016 and June 30, 2015 are as follows: Gross Gross Amortized Unrealized Unrealized Fair March 31, 2016 Cost Gains Losses Value FHLMC common stock $ 20 $ 89 $ - $ 109 Certificates of deposit 7,221 45 - 7,266 Corporate debt securities 5,336 45 - 5,381 Municipal securities 30,143 558 (56 ) 30,645 SBA loan pools 1,368 11 (3 ) 1,376 U.S. Government agency mortgage-backed securities 68,432 911 (86 ) 69,257 U.S. Government agency bonds 14,919 187 - 15,106 Total available-for-sale $ 127,439 $ 1,846 $ (145 ) $ 129,140 Gross Gross Amortized Unrealized Unrealized Fair June 30, 2015 Cost Gains Losses Value FHLMC common stock $ 20 $ 160 $ - $ 180 Certificates of deposit 7,221 29 (8 ) 7,242 Municipal securities 13,574 11 (152 ) 13,433 SBA loan pools 2,249 17 - 2,266 U.S. Government agency mortgage-backed securities 64,177 488 (523 ) 64,142 U.S. Government agency bonds 23,967 80 (143 ) 23,904 Total available-for-sale $ 111,208 $ 785 $ (826 ) $ 111,167 Securities pledged at March 31, 2016 and June 30, 2015 had carrying amounts of $6,068 and $5,951, respectively. These securities were pledged to secure public deposits. At March 31, 2016 and June 30, 2015, there were no holdings of securities of any one issuer, other than U.S. Government agencies and U.S. Government sponsored enterprises, in an amount greater than 10% of shareholders’ equity. The following tables show the fair value and unrealized loss of securities that have been in unrealized loss positions for less than twelve months and for more than twelve months at March 31, 2016 and June 30, 2015. The tables also show the number of securities in an unrealized loss position for each category of investment security as of the respective dates. Less than 12 Months 12 Months or More Total Number in Number in Number in Fair Unrealized Unrealized Fair Unrealized Unrealized Fair Unrealized Unrealized Value Loss Loss (1) Value Loss Loss (1) Value Loss Loss (1) March 31, 2016 Municipal securities $ 6,006 $ (54 ) 13 $ 339 $ (2 ) 1 $ 6,345 $ (56 ) 14 SBA loan pools 617 (3 ) 1 - - - 617 (3 ) 1 U.S. Government agency mortgage-backed securities 5,264 (14 ) 5 1,801 (72 ) 7 7,065 (86 ) 12 $ 11,887 $ (71 ) 19 $ 2,140 $ (74 ) 8 $ 14,027 $ (145 ) 27 Less than 12 Months 12 Months or More Total Number in Number in Number in Fair Unrealized Unrealized Fair Unrealized Unrealized Fair Unrealized Unrealized Value Loss Loss (1) Value Loss Loss (1) Value Loss Loss (1) June 30, 2015 Certificates of deposit $ 1,737 $ (6 ) 7 $ 247 $ (2 ) 1 $ 1,984 $ (8 ) 8 Municipal securities 10,472 (152 ) 30 - - - 10,472 (152 ) 30 SBA loan pools - - - - - - - - - U.S. Government agency mortgage-backed securities 18,981 (195 ) 15 11,521 (328 ) 12 30,502 (523 ) 27 U.S. Government agency bonds 6,951 (68 ) 4 4,920 (75 ) 3 11,871 (143 ) 7 $ 38,141 $ (421 ) 56 $ 16,688 $ (405 ) 16 $ 54,829 $ (826 ) 72 (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 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, 2016 were recognized into net income for the three or nine months ended March 31, 2016 because the issuers’ 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, 2015 were recognized as having OTTI during the three or nine months ended March 31, 2016. The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2016 and June 30, 2015 by contractual maturity. FHLMC common stock is not presented in this table. March 31, 2016 June 30, 2015 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ 1,494 $ 1,499 $ 1,244 $ 1,249 Due from one to five years 17,173 17,356 22,156 22,042 Due from six to ten years 30,595 31,068 11,450 11,412 Due after ten years 8,357 8,475 9,912 9,876 Mortgage-backed securities (1) 69,800 70,633 66,426 66,408 Total $ 127,419 $ 129,031 $ 111,188 $ 110,987 (1) Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. The following table presents the gross proceeds from sales of securities available-for-sale and gains or losses recognized for the three and nine months ended March 31, 2016 and 2015: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, 2016 2015 2016 2015 Proceeds $ 5,058 $ 4,604 $ 6,213 $ 11,025 Gross gains 95 120 104 149 Gross losses - - - - The tax provision related to these net realized gains for the three and nine months ended March 31, 2016 was $34 and $37, respectively, and for the three and nine months ended March 31, 2015 was $43 and $54, respectively.

LOANS

LOANS	9 Months Ended
	Mar. 31, 2016
LOANS
LOANS	(5) LOANS The components of loans at March 31, 2016 and June 30, 2015 were as follows: March 31, June 30, 2016 2015 Real estate loans: One-to-four family $ 241,874 $ 256,321 Multi-family 2,030 2,574 Home equity 6,947 8,198 Nonresidential 20,513 21,685 Agricultural 3,332 4,164 Construction and land 16,349 14,590 Total real estate loans 291,045 307,532 Commercial and industrial 127 184 Consumer and other loans 1,508 2,745 Total loans 292,680 310,461 Deferred net loan fees (1,141 ) (1,194 ) Total loans net of deferred loan fees $ 291,539 $ 309,267 The following tables present the activity in the allowance for loan losses for the three and nine months ended March 31, 2016 by portfolio segment: Beginning Ending Three Months Ended March 31, 2016 Balance Provision Charge-offs Recoveries Balance Real estate loans: One-to-four family $ 961 $ 17 $ - $ - $ 978 Multi-family 4 - - - 4 Home equity 1 1 - - 2 Nonresidential 67 6 - - 73 Agricultural 4 39 - - 43 Construction and land 86 (43 ) - - 43 Total real estate loans 1,123 20 - - 1,143 Commercial and industrial 8 (1 ) - - 7 Consumer and other loans 17 (8 ) (2 ) - 7 Total loans $ 1,148 $ 11 $ (2 ) $ - $ 1,157 Nine Months Ended March 31, 2016 Real estate loans: One-to-four family $ 910 $ 276 $ (208 ) $ - $ 978 Multi-family 4 - - - 4 Home equity 1 73 (72 ) - 2 Nonresidential 55 18 - - 73 Agricultural 4 39 - - 43 Construction and land 25 18 - - 43 Total real estate loans 999 424 (280 ) - 1,143 Commercial and industrial - 7 - - 7 Consumer and other loans 9 2 (4 ) - 7 Total loans $ 1,008 $ 433 $ (284 ) $ - $ 1,157 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at March 31, 2016: Ending Allowance on Loans: Loans: Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for At March 31, 2016 Impairment Impairment Impairment Impairment Non-PCI PCI (1) Non-PCI PCI (1) Real estate loans: One-to-four family $ 284 $ 57 $ 637 $ 2,636 $ 2,063 $ 237,175 Multi-family - - 4 - - 2,030 Home equity - - 2 33 - 6,914 Nonresidential - 16 57 - 1,500 19,013 Agricultural - 40 3 - 948 2,384 Construction and land 2 8 33 49 570 15,730 Total real estate loans 286 121 736 2,718 5,081 283,246 Commercial and industrial - - 7 - - 127 Consumer and other loans 5 - 2 6 - 1,502 Total loans $ 291 $ 121 $ 745 $ 2,724 $ 5,081 $ 284,875 (1) “Purchase Credit Impaired” (or “PCI”) loans include all loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. 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: Beginning Ending Three Months Ended March 31, 2015 Balance Provision Charge-offs Recoveries 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 Beginning Ending Nine Months Ended March 31, 2015 Balance Provision Charge-offs Recoveries 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 June 30, 2015: Ending Allowance on Loans: Loans: Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for At June 30, 2015 Impairment Impairment Impairment Impairment Non-PCI PCI (1) Non-PCI PCI (1) Real estate loans: One-to-four family $ 197 $ 6 $ 707 $ 2,666 $ 2,778 $ 250,877 Multi-family - - 4 - - 2,574 Home equity - - 1 - - 8,198 Nonresidential - 10 45 - 2,627 19,058 Agricultural - - 4 - 1,441 2,723 Construction and land - - 25 - 599 13,991 Total real estate loans 197 16 786 2,666 7,445 297,421 Commercial and industrial - - - - - 184 Consumer and other loans 7 - 2 7 - 2,738 Total loans $ 204 $ 16 $ 788 $ 2,673 $ 7,445 $ 300,343 (1) PCI loans include all loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The tables below present loans that were individually evaluated for impairment by portfolio segment at March 31, 2016 and June 30, 2015, including the average recorded investment balance and interest earned for the nine months ended March 31, 2016 and year ended June 30, 2015: March 31, 2016 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized With no recorded allowance: Real estate loans: One-to-four family $ 3,487 $ 2,638 $ - $ 3,021 $ 89 Multi-family - - - - - Home equity 225 39 - 20 - Nonresidential 1,307 631 - 969 56 Agricultural - - - 721 - Construction and land 1,120 582 - 591 83 Total real estate loans 6,139 3,890 - 5,322 228 Commercial and industrial - - - - - Consumer and other loans - - - - - Total loans $ 6,139 $ 3,890 $ - $ 5,322 $ 228 With recorded allowance: Real estate loans: One-to-four family $ 2,424 $ 2,061 $ 340 $ 2,052 $ 82 Multi-family - - - - - Home equity - - - - - Nonresidential 1,306 869 16 1,094 16 Agricultural 1,803 948 40 474 79 Construction and land 110 31 11 16 - Total real estate loans 5,643 3,909 407 3,636 177 Commercial and industrial - - - - - Consumer and other loans 6 6 5 - - Total loans $ 5,649 $ 3,915 $ 412 $ 3,636 $ 177 Totals: Real estate loans $ 11,782 $ 7,799 $ 407 $ 8,958 $ 405 Consumer and other loans 6 6 5 - - Total loans $ 11,788 $ 7,805 $ 412 $ 8,958 $ 405 The unpaid principal balance and recorded investment of PCI loans included in the table above was $9,064 and $5,081, respectively, at March 31, 2016. June 30, 2015 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized With no recorded allowance: Real estate loans: One-to-four family $ 4,651 $ 3,403 $ - $ 1,889 $ 92 Multi-family - - - - - Home equity 207 - - - - Nonresidential 2,830 1,307 - 654 39 Agricultural 2,893 1,441 - 721 45 Construction and land 1,271 599 - 300 23 Total real estate loans 11,852 6,750 - 3,564 199 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 11,852 $ 6,750 $ - $ 3,564 $ 199 With recorded allowance: Real estate loans: One-to-four family $ 2,082 $ 2,042 $ 203 $ 1,658 $ 28 Multi-family - - - - - Home equity - - - - - Nonresidential 1,938 1,319 10 660 25 Agricultural - - - - - Construction and land - - - - - Total real estate loans 4,020 3,361 213 2,318 53 Commercial and industrial - - - - - Consumer and other loans 9 7 7 - - Total $ 4,029 $ 3,368 $ 220 $ 2,318 $ 53 Totals: Real estate loans $ 15,872 $ 10,111 $ 213 $ 5,882 $ 252 Consumer and other loans 9 7 7 - - Total $ 15,881 $ 10,118 $ 220 $ 5,882 $ 252 The unpaid principal balance and recorded investment of PCI loans included in the table above was $13,209 and $7,445, respectively, at June 30, 2015. Purchased Credit Impaired Loans: The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The following table presents the carrying amount of those loans at March 31, 2016 and June 30, 2015: PCI Loans, net of related discounts: March 31, June 30, 2016 2015 Real estate loans: One-to-four family $ 2,011 $ 2,772 Multi-family - - Home equity - - Nonresidential 1,484 2,617 Agricultural 909 1,441 Construction and land 556 599 Total real estate loans 4,960 7,429 Commercial and industrial - - Consumer and other loans - - Total loans $ 4,960 $ 7,429 Carrying amounts listed above are net of an allowance for loan losses of $121 and $16 at March 31, 2016 and June 30, 2015, respectively. 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, 2016. Three Months Ended Nine Months Ended March 31, 2016 March 31, 2016 Accretable Carrying Accretable Carrying Yield Value Yield Value Balance at beginning of period $ (518 ) $ 5,517 $ (694 ) $ 7,429 Subsequent adjustments - - - - Liquidations - (169 ) 123 (2,008 ) Reductions from payments - (315 ) - (356 ) Accretion 123 - 375 - Reclassification from nonaccretable to accretable (242 ) - (441 ) - Change in the allowance - (73 ) - (105 ) Balance at end of period $ (637 ) $ 4,960 $ (637 ) $ 4,960 The acquisition of Stephens Federal Bank occurred on December 1, 2014. The amount of accretion recognized for the three and nine months ended March 31, 2015 was $119 and $131, respectively. Income is not recognized on PCI loans if the Company cannot reasonably estimate cash flows expected to be collected. The carrying amount of such loans at March 31, 2016 is as follows: March 31, 2016 Balance at beginning of year $ 2,798 Additions 132 Reductions from payments and liquidations (1,211 ) Balance at end of period $ 1,719 No income was recognized for the three or nine months ended March 31, 2016 and 2015 on the cost recovery basis for these loans. The following tables present the aging of past due loans as well as nonaccrual loans. Nonaccrual loans and accruing loans past due 90 days or more include both smaller balance homogenous loans and larger balance loans that are evaluated either collectively or individually for impairment. Separate tables are presented to show the aging of total past due loans and the aging of past due PCI loans only. Total past due loans and nonaccrual loans at March 31, 2016: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 March 31, 2016 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 4,672 $ 833 $ 1,164 $ 6,669 $ 235,205 $ 241,874 $ 1,317 $ - Multi-family - - - - 2,030 2,030 - - Home equity 111 - 39 150 6,797 6,947 39 - Nonresidential 255 - 952 1,207 19,306 20,513 952 - Agricultural 462 - - 462 2,870 3,332 462 - Construction and land 5 7 31 43 16,306 16,349 31 - Total real estate loans 5,505 840 2,186 8,531 282,514 291,045 2,801 - Commercial and industrial - - - - 127 127 - - Consumer and other loans - - - - 1,508 1,508 - - Total loans $ 5,505 $ 840 $ 2,186 $ 8,531 $ 284,149 $ 292,680 $ 2,801 $ - PCI past due and nonaccrual loans at March 31, 2016: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 March 31, 2016 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ - $ 154 $ 126 $ 280 $ 1,783 $ 2,063 $ 280 $ - Nonresidential - - 952 952 548 1,500 952 - Agricultural 462 - - 462 486 948 462 - Construction and land - - 25 25 539 564 25 - Total loans $ 462 $ 154 $ 1,103 $ 1,719 $ 3,356 $ 5,075 $ 1,719 $ - PCI loans for which the Company cannot reasonably estimate the amount and timing of future cash flows are classified as nonaccrual. Total past due and nonaccrual loans by portfolio segment at June 30, 2015: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 June 30, 2015 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 5,871 $ 1,243 $ 2,311 $ 9,425 $ 246,896 $ 256,321 $ 2,311 $ - Multi-family - - - - 2,574 2,574 - - Home equity 49 - - 49 8,149 8,198 - - Nonresidential 229 313 1,108 1,650 20,035 21,685 1,379 - Agricultural - - - - 4,164 4,164 487 - Construction and land 78 - - 78 14,512 14,590 - - Total real estate loans 6,227 1,556 3,419 11,202 296,330 307,532 4,177 - Commercial and industrial - - - - 184 184 - - Consumer and other loans 1 1 - 2 2,743 2,745 - - Total loans $ 6,228 $ 1,557 $ 3,419 $ 11,204 $ 299,257 $ 310,461 $ 4,177 $ - PCI past due and nonaccrual loans at June 30, 2015: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 June 30, 2015 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 237 $ - $ 932 $ 1,169 $ 1,609 $ 2,778 $ 932 $ - Home equity - - - - - - - - Nonresidential 14 313 1,108 1,435 1,192 2,627 1,379 - Agricultural - - - - 1,441 1,441 487 - Construction and land - - - - 599 599 - - Total loans $ 251 $ 313 $ 2,040 $ 2,604 $ 4,841 $ 7,445 $ 2,798 $ - PCI loans for which the Company cannot reasonably estimate the amount and timing of future cash flows are classified as nonaccrual. Troubled Debt Restructurings: At March 31, 2016 and June 30, 2015, total loans that have been modified as troubled debt restructurings were $462 and $487, respectively, which consisted of one agricultural loan and one home equity line of credit. These loans were PCI loans recorded initially at fair value. No additional allowance has been specifically reserved for these loans. Additionally, there were no commitments to lend any additional amounts under either loan or any payment default on any loan after the modification. There were no troubled debt restructurings during the three or nine months ended March 31, 2016. Loan Grades: The Company utilizes a grading system whereby all loans are assigned a grade based on the risk profile of each loan. Loan grades are determined based on an evaluation of relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. All loans, regardless of size, are analyzed and are given a grade based upon the management’s assessment of the ability of borrowers to service their debts. Pass: Loan assets of this grade conform to a preponderance of our underwriting criteria and are acceptable as a credit risk, based upon the current net worth and paying capacity of the obligor. Loans in this category also include loans secured by liquid assets and secured loans to borrowers with unblemished credit histories. Pass-Watch: Loan assets of this grade represent our minimum level of acceptable credit risk. This grade may also represent obligations previously rated “Pass”, but with significantly deteriorating trends or previously rated. Special Mention: Loan assets of this grade have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loan assets of this grade are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Portfolio Segments: One-to-four family: For traditional homes, the Company may originate loans with loan-to-value ratios in excess of 80% if the borrower obtains mortgage insurance or provides readily marketable collateral. The Company may make exceptions for special loan programs that we offer. For example, the Company currently offers mortgages of up to $95 with loan-to-value ratios of up to 95% to low- to moderate-income borrowers solely for the purchase of their primary residence. The Company also originates residential mortgage loans for non-owner-occupied homes with loan-to-value ratios of up to 80%. The Company has historically originated residential mortgage loans with loan-to-value ratios of up to 75% for manufactured or modular homes. The Company no longer offers residential mortgage loans for manufactured or modular homes as of December 1, 2014. However, renewals of existing performing credits that meet the Company’s underwriting requirements will be considered. Multi-family: Multi-family real estate loans generally present a higher level of risk than loans secured by one-to-four family residences. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income-producing properties and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family residential real estate is typically dependent upon the successful operation of the related real estate project. Home Equity: Nonresidential Real Estate: Loans secured by nonresidential real estate generally are larger than one-to-four family residential loans and involve greater credit risk. Nonresidential real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Repayment of these loans depends to a large degree on the results of operations and management of the properties securing the loans or the businesses conducted on such property, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general, including the current adverse conditions. In addition, because a church's financial stability often depends on donations from congregation members rather than income from business operations, repayment may be affected by economic conditions that affect individuals located both in our market area and in other market areas with which we are not as familiar. In addition, due to the unique nature of church buildings and properties, the real estate securing church loans may be less marketable than other nonresidential real estate. The Company considers a number of factors in originating nonresidential real estate loans. The Company evaluates the qualifications and financial condition of the borrower, including credit history, cash flows, the applicable business plan, the financial resources of the borrower, the borrower's experience in owning or managing similar property and the borrower's payment history with the Company and other financial institutions. In evaluating the property securing the loan, the factors the Company considers include the net operating income of the mortgaged property before debt service and depreciation, the ratio of the loan amount to the appraised value of the mortgaged property and the debt service coverage ratio (the ratio of net operating income to debt service). For church loans, the Company also considers the length of time the church has been in existence, the size and financial strength of the denomination with which it is affiliated, attendance figures and growth projections and current operating budgets. The collateral underlying all nonresidential real estate loans is appraised by outside independent appraisers approved by our board of directors. Personal guarantees may be obtained from the principals of nonresidential real estate borrowers, and in the case of church loans, guarantees from the applicable denomination may be obtained. Agricultural: Loans secured by agricultural real estate generally are larger than one-to-four family residential loans and involve greater credit risk. Agricultural real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Repayment of these loans depends to a large degree on the results of operations and management of the properties securing the loans or the businesses conducted on such property, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general, including the current adverse conditions. Construction and Land: The Company also makes interim construction loans for nonresidential properties. In addition, the Company occasionally makes loans for the construction of homes "on speculation," but the Company generally permits a borrower to have only two such loans at a time. These loans generally have a maximum term of eight months, and upon completion of construction convert to conventional amortizing nonresidential real estate loans. These construction loans have rates and terms comparable to permanent loans secured by property of the type being constructed that we originate. Generally, the maximum loan-to-value ratio of these construction loans is 85%. Commercial and Industrial Loans: Commercial and industrial loans and leases typically are underwritten on the basis of the borrower’s or lessee’s ability to make repayment from the cash flow of its business and generally are collateralized by business assets. As a result, such loans and leases involve additional complexities, variables and risks and require more thorough underwriting and servicing than other types of loans and leases. Consumer and Other Loans: Consumer loans may entail greater credit risk than residential mortgage loans, particularly in the case of consumer loans that are unsecured or are secured by rapidly depreciable assets, such as automobiles. In addition, consumer loan collections are dependent on the borrower's continuing financial stability, and thus are more likely to be affected by adverse personal circumstances. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. Total loans by risk grade and portfolio segment at March 31, 2016: Special March 31, 2016 Pass Pass-Watch Mention Substandard Doubtful Total Real estate loans: One-to-four family $ 227,461 $ 7,915 $ 1,799 $ 4,699 $ - $ 241,874 Multi-family 2,030 - - - - 2,030 Home equity 6,380 267 261 39 - 6,947 Nonresidential 13,362 4,142 1,509 1,500 - 20,513 Agricultural 1,285 404 695 948 - 3,332 Construction and land 14,605 890 241 613 - 16,349 Total real estate loans 265,123 13,618 4,505 7,799 - 291,045 Commercial and industrial 113 14 - - - 127 Consumer and other loans 1,499 - 3 6 - 1,508 Total loans $ 266,735 $ 13,632 $ 4,508 $ 7,805 $ - $ 292,680 Total loans by risk grade and portfolio segment at June 30, 2015: Special June 30, 2015 Pass Pass-Watch Mention Substandard Doubtful Total Real estate loans: One-to-four family $ 242,399 $ 6,909 $ 1,568 $ 5,445 $ - $ 256,321 Multi-family 2,574 - - - - 2,574 Home equity 7,840 184 174 - - 8,198 Nonresidential 13,226 4,275 1,558 2,355 271 21,685 Agricultural 1,295 423 1,005 1,441 - 4,164 Construction and land 12,586 920 485 599 - 14,590 Total real estate loans 279,920 12,711 4,790 9,840 271 307,532 Commercial and industrial 169 15 - - - 184 Consumer and other loans 2,725 6 7 7 - 2,745 Total loans $ 282,814 $ 12,732 $ 4,797 $ 9,847 $ 271 $ 310,461 At March 31, 2016, consumer mortgage loans secured by residential real estate properties totaling $302 were in formal foreclosure proceedings and are included in one-to-four family loans.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Mar. 31, 2016
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	(6) 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. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. Fair value is commonly based on recent real estate appraisals, which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for both collateral-dependent impaired loans and real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. Loan Servicing Rights: Fair value is determined based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data and results in a Level 3 classification. Assets and liabilities measured at fair value on a recurring basis at March 31, 2016 and June 30, 2015 are summarized below: Fair Value Measurements (Level 2) (Level 3) (Level 2) (Level 3) March 31, June 30, 2016 2015 Financial assets: Securities available-for-sale $ 129,031 $ 109 $ 110,987 $ 180 Loan servicing rights - 1,168 - 1,396 Total financial assets $ 129,031 $ 1,277 $ 110,987 $ 1,576 Presented in the table below are assets measured at fair value on a nonrecurring basis using Level 3 inputs at March 31, 2016 and June 30, 2015: Fair Value Measurements (Level 3) (Level 3) March 31, June 30, 2016 2015 Impaired loans, with specific allocations: One-to-four family $ 2,061 $ 1,839 Nonresidential 869 1,309 Agricultural 948 - Construction and land 31 - Consumer and other loans 5 - Total financial assets 3,914 3,148 Non-financial assets: Real estate owned, net: One-to-four family 1,125 1,335 Nonresidential 436 365 Construction and land 168 392 Total non-financial assets 1,729 2,092 Total assets measured at fair value on a non-recurring basis $ 5,643 $ 5,240 The Company's impaired loans at March 31, 2016 and June 30, 2015 were measured at fair value based primarily upon the estimated value of real estate collateral less costs to sell and, with respect to nonresidential, agricultural, and consumer loans, were based upon discounted cash flow assumptions. The carrying amounts of these loans were $3,914 and $3,148, respectively, which consisted of valuation allowances of $412 and $220, respectively. Not shown in the table above, there were recorded investments at June 30, 2015 of consumer and other loans with a recorded investment amount of $7 with a valuation allowance of $7. The impact to the provision for loan losses from the change in the valuation allowance for the three and nine months ended March 31, 2016 was an increase of $10 and $302, respectively, and for the three and nine months ended March 31, 2015 was an increase of $0 and $16, respectively. Real estate owned is carried at the lower of carrying value or fair value less costs to sell. The carrying value of real estate owned and their respective valuation allowances at March 31, 2016 and June 30, 2015 were $1,729 and $2,092 and $19 and $84, respectively. The resulting write-downs for measuring real estate owned at the lower of carrying or fair value less costs to sell for the three and nine months ended March 31, 2016 were $0 and $110, respectively. The write-downs for real estate owned for the three and nine months ended March 31, 2015 were $112. The tables below present a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs Level 3 for the three and nine months ended March 31, 2016 and 2015: Fair Value Measurements (Level 3) Three Months Ended Three Months Ended March 31, 2016 March 31, 2015 FHLMC Loan FHLMC Loan Common Servicing Common Servicing Stock Rights Total Stock Rights Total Balance at beginning of period: $ 132 $ 1,310 $ 1,442 $ 167 $ 1,369 $ 1,536 Purchases - - - - - - Change in fair value (23 ) (142 ) (165 ) - (50 ) (50 ) Balance at end of period: $ 109 $ 1,168 $ 1,277 $ 167 $ 1,319 $ 1,486 Fair Value Measurements (Level 3) Nine Months Ended Nine Months Ended March 31, 2016 March 31, 2015 FHLMC Loan FHLMC Loan Common Servicing Common Servicing Stock Rights Total Stock Rights Total Balance at beginning of year: $ 180 $ 1,396 $ 1,576 $ 314 $ - $ 314 Purchases - - - - 1,369 1,369 Change in fair value (71 ) (228 ) (299 ) (147 ) (50 ) (197 ) Balance at end of period: $ 109 $ 1,168 $ 1,277 $ 167 $ 1,319 $ 1,486 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, 2016 and June 30, 2015. Level 3 Quantitative Information March 31, June 30, Valuation Unobservable 2016 2015 Technique Inputs Range Fair Value Fair Value Impaired real estate loans net, with specific allocations: One-to-four family $ 2,061 $ 1,839 Sales comparison approach Adjustment for differences between the comparable sales 0% to 30% Nonresidential 869 1,309 Discounted cash flows Discount rate, estimated timing of cash flows 2% to 28% Agricultural 948 - Discounted cash flows Discount rate, estimated timing of cash flows 0% to 30% Construction and land 31 - Sales comparison approach Adjustment for differences between the comparable sales 0% to 30% Consumer and other loans 5 - Discounted cash flows Discount rate, estimated timing of cash flows 0% to 30% Real estate owned net: One-to-four family $ 1,125 $ 1,335 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Nonresidential 436 365 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Construction and land 168 392 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Many of the Company’s assets and liabilities are short-term financial instruments whose carrying amounts reported in the consolidated balance 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, 2016 and June 30, 2015 are summarized below: March 31, 2016 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 129,140 $ - $ 129,031 $ 109 $ 129,140 Loans, net 290,382 - - 290,211 290,211 Loans held for sale (1) 385 - - 385 385 Loan servicing rights 1,168 - - 1,168 1,168 Restricted equity securities (2) 433 N/A N/A N/A N/A Financial liabilities Deposits $ 397,311 $ 170,489 $ 226,856 $ - $ 397,345 June 30, 2015 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 111,167 $ - $ 110,987 $ 180 $ 111,167 Loans, net 308,259 - - 310,116 310,116 Loans held for sale (1) 118 - - 118 118 Loan servicing rights 1,396 - - 1,396 1,396 Restricted equity securities (2) 440 N/A N/A N/A N/A Financial liabilities Deposits $ 394,093 $ 137,618 $ 256,681 $ - $ 394,299 (1) Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 2 classification. (2) It is not practicable to determine fair value of restricted equity securities due to restrictions placed on transferability.

EMPLOYEE STOCK OWNERSHIP PLAN

EMPLOYEE STOCK OWNERSHIP PLAN	9 Months Ended
	Mar. 31, 2016
EMPLOYEE STOCK OWNERSHIP PLAN
EMPLOYEE STOCK OWNERSHIP PLAN	(7) 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. No contributions to the ESOP were made during the three or nine months ended March 31, 2016. The expense recognized for the three months ended March 31, 2016 and 2015 was $92 and $91, respectively. The expense recognized for the nine months ended March 31, 2016 and 2015 was $427 and $384, respectively. An additional $100 discretionary contribution was paid to the ESOP for additional debt retirement during the nine months ended March 31, 2016 and March 31, 2015, which resulted in the release of additional shares and recognition of additional compensation expense of $190 and $160, respectively. Shares held by the ESOP at March 31, 2016 and June 30, 2015 were as follows: March 31, June 30, 2016 2015 Committed to be released to participants 5,935 9,938 Allocated to participants 106,924 85,248 Unearned 135,983 153,656 Total ESOP shares 248,842 248,842 Fair value of unearned shares $ 2,520 $ 2,827

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Mar. 31, 2016
STOCK BASED COMPENSATION
STOCK BASED COMPENSATION	(8) 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 February 5, 2016, the compensation committee of the board of directors approved the issuance of 21,000 stock options to purchase Company stock and 7,000 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 of the grant date. The weighted average vesting period of stock options and restricted stock granted was 5.7 years and 6.0 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. The following table summarizes stock option activity for the nine months ended March 31, 2016: Weighted- Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price/Share Life (in years) Value (1) Outstanding - July 1, 2015 248,686 $ 12.02 Granted 21,000 19.40 Exercised - - Forfeited (7,700 ) 17.16 Outstanding - March 31, 2016 261,986 $ 12.46 6.46 $ 1,590 Fully vested and exercisable at March 31, 2016 127,741 $ 11.65 6.46 $ 879 Expected to vest in future periods 134,245 Fully vested and expected to vest - March 31, 2016 261,986 $ 12.46 6.46 $ 1,590 (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 $18.53 per share on March 31, 2016. The fair value for each option grant is estimated on the date of grant using the Black-Scholes-Merton option pricing model that uses the following assumptions. The Company uses the U.S. Treasury yield curve in effect at the time of the grant to determine the risk-free interest rate. The expected dividend yield is estimated using the projected annual dividend level and recent stock price of the Company’s common stock at the date of grant. Expected stock volatility is based on historical volatilities of the SNL Financial Index of Thrift MHCs. The expected life of the options is calculated based on the “simplified” method as provided for under generally accepted accounting principles. The weighted-average fair value of options granted and assumptions used in the Black-Scholes-Merton option pricing model in the fiscal years granted are listed below: Fiscal Years Granted 2016 2015 2014 2012 Risk-free interest rate 1.67 % 1.68 % 2.32 % 1.54 % Expected dividend yield 2.06 % 2.00 % 2.33 % 3.45 % Expected stock volatility 16.1 15.9 15.5 15.3 Expected life (years) 8 8 8 8 Fair value $ 2.75 $ 2.86 $ 2.46 $ 1.00 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 22,935 and 21,835 options that were earned during the nine months ended March 31, 2016 and 2015, respectively. Stock-based compensation expense for stock options for the three and nine months ended March 31, 2016 was $7 and $29, respectively, and for the three and nine months ended March 31, 2015 was $12 and $34, respectively. Total unrecognized compensation cost related to stock options was $107 at March 31, 2016 and is expected to be recognized over a weighted-average period of 3.4 years. The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2016: March 31, 2016 Balance - beginning of year 62,502 Granted 7,000 Forfeited (9,000 ) Vested (3,600 ) Balance - end of period 56,902 Weighted average grant date fair value $ 13.52 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 in total. The weighted-average grant date fair value of restricted stock granted on November 13, 2013 was $17.16 per share or $216 in total. The weighted-average grant date fair value of restricted stock granted on January 23, 2015 was $20.01 per share or $252 in total. The weighted-average grant date fair value of restricted stock granted on February 5, 2016 was $19.40 per share or $136 in total. Stock-based compensation expense for restricted stock included in noninterest expense for the three and nine months ended March 31, 2016 was $55 and $184 and for the three and nine months ended March 31, 2015 was $60 and $169, respectively. Unrecognized compensation expense for nonvested restricted stock awards was $609 at March 31, 2016 and is expected to be recognized over a weighted-average period of 3.4 years.

LOAN SERVICING RIGHTS

LOAN SERVICING RIGHTS	9 Months Ended
	Mar. 31, 2016
Transfers and Servicing [Abstract]
LOAN SERVICING RIGHTS	(9) 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, 2016 and June 30, 2015 are as follows: March 31, June 30, 2016 2015 Mortgage loan portfolio serviced for: FHLMC $ 130,327 $ 141,195 Custodial escrow balances maintained in connection with serviced loans were $719 and $986 at March 31, 2016 and June 30, 2015. Activity for loan servicing rights for the three and nine months ended March 31, 2016 and 2015 is as follows: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, 2016 2015 2016 2015 Loan servicing rights: Beginning of period: $ 1,310 $ 1,369 $ 1,396 $ - Additions - - - 1,369 Change in fair value (142 ) (50 ) (228 ) (50 ) End of period: $ 1,168 $ 1,319 $ 1,168 $ 1,319 Fair value at March 31, 2016 was determined using a discount rate of 9.38%, prepayment speed assumptions ranging from 9.0% to 19.7% Conditional Prepayment Rate (“CPR”) depending on the loans coupon, term and seasoning, and a weighted average default rate of 0.61%. 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 INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Mar. 31, 2016
Supplemental Cash FlowInformation [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	(10) SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for the nine months ended March 31, 2016 and 2015 is as follows: March 31, March 31, 2016 2015 Cash paid during the period for: Interest paid $ 884 $ 932 Income taxes paid $ 117 $ 1,240 Supplemental noncash disclosures: Transfers from loans to real estate owned $ 1,613 $ 163 Acquisition: Assets acquired (excluding goodwill) $2,593 $ - $ 137,985 Liabilities assumed $ - $ 140,155 Acquisition price (common stock issued to OFED, MHC) $ - $ 700 Goodwill recorded $ - $ 2,870

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2016
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	(11) SUBSEQUENT EVENTS On April 22, 2016, 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 5, 2016, and will be paid on or about May 19, 2016.

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2016
Accounting Policies [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 (70.93%) by Oconee Federal, MHC. These financial statements do not include the transactions and balances of Oconee Federal, MHC. On December 1, 2014, the Company acquired Stephens Federal Bank. The consolidated financial statements at March 31, 2016 and June 30, 2015 and for the three and nine months ended March 31, 2016 and 2015 are reflective of the addition of Stephens Federal Bank’s assets and liabilities. 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, 2016 and June 30, 2015 and the results of operations and cash flows for the interim periods ended March 31, 2016 and 2015. 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 Company’s Annual Report on Form 10-K for the year ended June 30, 2015. Certain amounts have been reclassified to conform to the current period presentation. The reclassifications had no effect on net income or shareholders’ equity as previously reported.
NEW ACCOUNTING STANDARDS	(2) NEW ACCOUNTING STANDARDS In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation, In February 2016, the FASB issued ASU 2016-02, Leases In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. i.e

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	9 Months Ended
	Mar. 31, 2016
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, 2016 2015 2016 2015 Earnings per share Net income $ 1,393 $ 1,196 $ 3,781 $ 3,267 Less: distributed earnings allocated to participating securities (6 ) (8 ) (17 ) (22 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities (7 ) (8 ) (20 ) (22 ) Net earnings available to common shareholders $ 1,380 $ 1,180 $ 3,744 $ 3,223 Weighted average common shares outstanding including participating securities 5,877,820 5,880,480 5,881,993 5,853,577 Less: participating securities (56,902 ) (78,499 ) (56,902 ) (78,499 ) Less: average unearned ESOP shares (131,696 ) (161,110 ) (141,192 ) (170,051 ) Weighted average common shares outstanding 5,689,222 5,640,871 5,683,899 5,605,027 Basic earnings per share $ 0.24 $ 0.21 $ 0.66 $ 0.58 Weighted average common shares outstanding 5,689,222 5,640,871 5,683,899 5,605,027 Add: dilutive effects of assumed exercises of stock options 75,180 76,901 72,928 68,256 Average shares and dilutive potential common shares 5,764,402 5,717,772 5,756,827 5,673,283 Diluted earnings per share $ 0.24 $ 0.21 $ 0.65 $ 0.57

SECURITIES AVAILABLE-FOR-SALE (

SECURITIES AVAILABLE-FOR-SALE (Tables)	9 Months Ended
	Mar. 31, 2016
SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY
Schedule of reconciliation of available-for-sale securities from cost basis to fair value	Gross Gross Amortized Unrealized Unrealized Fair March 31, 2016 Cost Gains Losses Value FHLMC common stock $ 20 $ 89 $ - $ 109 Certificates of deposit 7,221 45 - 7,266 Corporate debt securities 5,336 45 - 5,381 Municipal securities 30,143 558 (56 ) 30,645 SBA loan pools 1,368 11 (3 ) 1,376 U.S. Government agency mortgage-backed securities 68,432 911 (86 ) 69,257 U.S. Government agency bonds 14,919 187 - 15,106 Total available-for-sale $ 127,439 $ 1,846 $ (145 ) $ 129,140 Gross Gross Amortized Unrealized Unrealized Fair June 30, 2015 Cost Gains Losses Value FHLMC common stock $ 20 $ 160 $ - $ 180 Certificates of deposit 7,221 29 (8 ) 7,242 Municipal securities 13,574 11 (152 ) 13,433 SBA loan pools 2,249 17 - 2,266 U.S. Government agency mortgage-backed securities 64,177 488 (523 ) 64,142 U.S. Government agency bonds 23,967 80 (143 ) 23,904 Total available-for-sale $ 111,208 $ 785 $ (826 ) $ 111,167
Schedule of unrealized loss on investments	Less than 12 Months 12 Months or More Total Number in Number in Number in Fair Unrealized Unrealized Fair Unrealized Unrealized Fair Unrealized Unrealized Value Loss Loss (1) Value Loss Loss (1) Value Loss Loss (1) March 31, 2016 Municipal securities $ 6,006 $ (54 ) 13 $ 339 $ (2 ) 1 $ 6,345 $ (56 ) 14 SBA loan pools 617 (3 ) 1 - - - 617 (3 ) 1 U.S. Government agency mortgage-backed securities 5,264 (14 ) 5 1,801 (72 ) 7 7,065 (86 ) 12 $ 11,887 $ (71 ) 19 $ 2,140 $ (74 ) 8 $ 14,027 $ (145 ) 27 Less than 12 Months 12 Months or More Total Number in Number in Number in Fair Unrealized Unrealized Fair Unrealized Unrealized Fair Unrealized Unrealized Value Loss Loss (1) Value Loss Loss (1) Value Loss Loss (1) June 30, 2015 Certificates of deposit $ 1,737 $ (6 ) 7 $ 247 $ (2 ) 1 $ 1,984 $ (8 ) 8 Municipal securities 10,472 (152 ) 30 - - - 10,472 (152 ) 30 SBA loan pools - - - - - - - - - U.S. Government agency mortgage-backed securities 18,981 (195 ) 15 11,521 (328 ) 12 30,502 (523 ) 27 U.S. Government agency bonds 6,951 (68 ) 4 4,920 (75 ) 3 11,871 (143 ) 7 $ 38,141 $ (421 ) 56 $ 16,688 $ (405 ) 16 $ 54,829 $ (826 ) 72 (1) Actual amounts.
Schedule of contractual maturity	March 31, 2016 June 30, 2015 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ 1,494 $ 1,499 $ 1,244 $ 1,249 Due from one to five years 17,173 17,356 22,156 22,042 Due from six to ten years 30,595 31,068 11,450 11,412 Due after ten years 8,357 8,475 9,912 9,876 Mortgage-backed securities (1) 69,800 70,633 66,426 66,408 Total $ 127,419 $ 129,031 $ 111,188 $ 110,987 (1) Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty.
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, 2016 2015 2016 2015 Proceeds $ 5,058 $ 4,604 $ 6,213 $ 11,025 Gross gains 95 120 104 149 Gross losses - - - -

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Mar. 31, 2016
LOANS
Schedule of components of loans	March 31, June 30, 2016 2015 Real estate loans: One-to-four family $ 241,874 $ 256,321 Multi-family 2,030 2,574 Home equity 6,947 8,198 Nonresidential 20,513 21,685 Agricultural 3,332 4,164 Construction and land 16,349 14,590 Total real estate loans 291,045 307,532 Commercial and industrial 127 184 Consumer and other loans 1,508 2,745 Total loans 292,680 310,461 Deferred net loan fees (1,141 ) (1,194 ) Total loans net of deferred loan fees $ 291,539 $ 309,267
Schedule of activity in the allowance for loan losses	Beginning Ending Three Months Ended March 31, 2016 Balance Provision Charge-offs Recoveries Balance Real estate loans: One-to-four family $ 961 $ 17 $ - $ - $ 978 Multi-family 4 - - - 4 Home equity 1 1 - - 2 Nonresidential 67 6 - - 73 Agricultural 4 39 - - 43 Construction and land 86 (43 ) - - 43 Total real estate loans 1,123 20 - - 1,143 Commercial and industrial 8 (1 ) - - 7 Consumer and other loans 17 (8 ) (2 ) - 7 Total loans $ 1,148 $ 11 $ (2 ) $ - $ 1,157 Nine Months Ended March 31, 2016 Real estate loans: One-to-four family $ 910 $ 276 $ (208 ) $ - $ 978 Multi-family 4 - - - 4 Home equity 1 73 (72 ) - 2 Nonresidential 55 18 - - 73 Agricultural 4 39 - - 43 Construction and land 25 18 - - 43 Total real estate loans 999 424 (280 ) - 1,143 Commercial and industrial - 7 - - 7 Consumer and other loans 9 2 (4 ) - 7 Total loans $ 1,008 $ 433 $ (284 ) $ - $ 1,157 Beginning Ending Three Months Ended March 31, 2015 Balance Provision Charge-offs Recoveries 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 Beginning Ending Nine Months Ended March 31, 2015 Balance Provision Charge-offs Recoveries 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
Schedule of recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment	Ending Allowance on Loans: Loans: Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for At March 31, 2016 Impairment Impairment Impairment Impairment Non-PCI PCI (1) Non-PCI PCI (1) Real estate loans: One-to-four family $ 284 $ 57 $ 637 $ 2,636 $ 2,063 $ 237,175 Multi-family - - 4 - - 2,030 Home equity - - 2 33 - 6,914 Nonresidential - 16 57 - 1,500 19,013 Agricultural - 40 3 - 948 2,384 Construction and land 2 8 33 49 570 15,730 Total real estate loans 286 121 736 2,718 5,081 283,246 Commercial and industrial - - 7 - - 127 Consumer and other loans 5 - 2 6 - 1,502 Total loans $ 291 $ 121 $ 745 $ 2,724 $ 5,081 $ 284,875 (1) “Purchase Credit Impaired” (or “PCI”) loans include all loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. Ending Allowance on Loans: Loans: Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for At June 30, 2015 Impairment Impairment Impairment Impairment Non-PCI PCI (1) Non-PCI PCI (1) Real estate loans: One-to-four family $ 197 $ 6 $ 707 $ 2,666 $ 2,778 $ 250,877 Multi-family - - 4 - - 2,574 Home equity - - 1 - - 8,198 Nonresidential - 10 45 - 2,627 19,058 Agricultural - - 4 - 1,441 2,723 Construction and land - - 25 - 599 13,991 Total real estate loans 197 16 786 2,666 7,445 297,421 Commercial and industrial - - - - - 184 Consumer and other loans 7 - 2 7 - 2,738 Total loans $ 204 $ 16 $ 788 $ 2,673 $ 7,445 $ 300,343 (1) PCI loans include all loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. March 31, 2016 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized With no recorded allowance: Real estate loans: One-to-four family $ 3,487 $ 2,638 $ - $ 3,021 $ 89 Multi-family - - - - - Home equity 225 39 - 20 - Nonresidential 1,307 631 - 969 56 Agricultural - - - 721 - Construction and land 1,120 582 - 591 83 Total real estate loans 6,139 3,890 - 5,322 228 Commercial and industrial - - - - - Consumer and other loans - - - - - Total loans $ 6,139 $ 3,890 $ - $ 5,322 $ 228 With recorded allowance: Real estate loans: One-to-four family $ 2,424 $ 2,061 $ 340 $ 2,052 $ 82 Multi-family - - - - - Home equity - - - - - Nonresidential 1,306 869 16 1,094 16 Agricultural 1,803 948 40 474 79 Construction and land 110 31 11 16 - Total real estate loans 5,643 3,909 407 3,636 177 Commercial and industrial - - - - - Consumer and other loans 6 6 5 - - Total loans $ 5,649 $ 3,915 $ 412 $ 3,636 $ 177 Totals: Real estate loans $ 11,782 $ 7,799 $ 407 $ 8,958 $ 405 Consumer and other loans 6 6 5 - - Total loans $ 11,788 $ 7,805 $ 412 $ 8,958 $ 405 The unpaid principal balance and recorded investment of PCI loans included in the table above was $9,064 and $5,081, respectively, at March 31, 2016. June 30, 2015 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized With no recorded allowance: Real estate loans: One-to-four family $ 4,651 $ 3,403 $ - $ 1,889 $ 92 Multi-family - - - - - Home equity 207 - - - - Nonresidential 2,830 1,307 - 654 39 Agricultural 2,893 1,441 - 721 45 Construction and land 1,271 599 - 300 23 Total real estate loans 11,852 6,750 - 3,564 199 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 11,852 $ 6,750 $ - $ 3,564 $ 199 With recorded allowance: Real estate loans: One-to-four family $ 2,082 $ 2,042 $ 203 $ 1,658 $ 28 Multi-family - - - - - Home equity - - - - - Nonresidential 1,938 1,319 10 660 25 Agricultural - - - - - Construction and land - - - - - Total real estate loans 4,020 3,361 213 2,318 53 Commercial and industrial - - - - - Consumer and other loans 9 7 7 - - Total $ 4,029 $ 3,368 $ 220 $ 2,318 $ 53 Totals: Real estate loans $ 15,872 $ 10,111 $ 213 $ 5,882 $ 252 Consumer and other loans 9 7 7 - - Total $ 15,881 $ 10,118 $ 220 $ 5,882 $ 252
Schedule of loans acquired for as purchased credit impaired loans	PCI Loans, net of related discounts: March 31, June 30, 2016 2015 Real estate loans: One-to-four family $ 2,011 $ 2,772 Multi-family - - Home equity - - Nonresidential 1,484 2,617 Agricultural 909 1,441 Construction and land 556 599 Total real estate loans 4,960 7,429 Commercial and industrial - - Consumer and other loans - - Total loans $ 4,960 $ 7,429
Schedule of changes in the carrying value and accretable yield on purchased credit impaired loans	Three Months Ended Nine Months Ended March 31, 2016 March 31, 2016 Accretable Carrying Accretable Carrying Yield Value Yield Value Balance at beginning of period $ (518 ) $ 5,517 $ (694 ) $ 7,429 Subsequent adjustments - - - - Liquidations - (169 ) 123 (2,008 ) Reductions from payments - (315 ) - (356 ) Accretion 123 - 375 - Reclassification from nonaccretable to accretable (242 ) - (441 ) - Change in the allowance - (73 ) - (105 ) Balance at end of period $ (637 ) $ 4,960 $ (637 ) $ 4,960
Schedule of carrying amount of purchased credit impaired loans	March 31, 2016 Balance at beginning of year $ 2,798 Additions 132 Reductions from payments and liquidations (1,211 ) Balance at end of period $ 1,719
Schedule of the aging of the recorded investment in past due loans	Total past due loans and nonaccrual loans at March 31, 2016: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 March 31, 2016 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 4,672 $ 833 $ 1,164 $ 6,669 $ 235,205 $ 241,874 $ 1,317 $ - Multi-family - - - - 2,030 2,030 - - Home equity 111 - 39 150 6,797 6,947 39 - Nonresidential 255 - 952 1,207 19,306 20,513 952 - Agricultural 462 - - 462 2,870 3,332 462 - Construction and land 5 7 31 43 16,306 16,349 31 - Total real estate loans 5,505 840 2,186 8,531 282,514 291,045 2,801 - Commercial and industrial - - - - 127 127 - - Consumer and other loans - - - - 1,508 1,508 - - Total loans $ 5,505 $ 840 $ 2,186 $ 8,531 $ 284,149 $ 292,680 $ 2,801 $ - PCI past due and nonaccrual loans at March 31, 2016: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 March 31, 2016 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ - $ 154 $ 126 $ 280 $ 1,783 $ 2,063 $ 280 $ - Nonresidential - - 952 952 548 1,500 952 - Agricultural 462 - - 462 486 948 462 - Construction and land - - 25 25 539 564 25 - Total loans $ 462 $ 154 $ 1,103 $ 1,719 $ 3,356 $ 5,075 $ 1,719 $ - Total past due and nonaccrual loans by portfolio segment at June 30, 2015: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 June 30, 2015 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 5,871 $ 1,243 $ 2,311 $ 9,425 $ 246,896 $ 256,321 $ 2,311 $ - Multi-family - - - - 2,574 2,574 - - Home equity 49 - - 49 8,149 8,198 - - Nonresidential 229 313 1,108 1,650 20,035 21,685 1,379 - Agricultural - - - - 4,164 4,164 487 - Construction and land 78 - - 78 14,512 14,590 - - Total real estate loans 6,227 1,556 3,419 11,202 296,330 307,532 4,177 - Commercial and industrial - - - - 184 184 - - Consumer and other loans 1 1 - 2 2,743 2,745 - - Total loans $ 6,228 $ 1,557 $ 3,419 $ 11,204 $ 299,257 $ 310,461 $ 4,177 $ - PCI past due and nonaccrual loans at June 30, 2015: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 June 30, 2015 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 237 $ - $ 932 $ 1,169 $ 1,609 $ 2,778 $ 932 $ - Home equity - - - - - - - - Nonresidential 14 313 1,108 1,435 1,192 2,627 1,379 - Agricultural - - - - 1,441 1,441 487 - Construction and land - - - - 599 599 - - Total loans $ 251 $ 313 $ 2,040 $ 2,604 $ 4,841 $ 7,445 $ 2,798 $ -
Schedule of portfolio segment by risk grade for originated and for acquired loans	Special March 31, 2016 Pass Pass-Watch Mention Substandard Doubtful Total Real estate loans: One-to-four family $ 227,461 $ 7,915 $ 1,799 $ 4,699 $ - $ 241,874 Multi-family 2,030 - - - - 2,030 Home equity 6,380 267 261 39 - 6,947 Nonresidential 13,362 4,142 1,509 1,500 - 20,513 Agricultural 1,285 404 695 948 - 3,332 Construction and land 14,605 890 241 613 - 16,349 Total real estate loans 265,123 13,618 4,505 7,799 - 291,045 Commercial and industrial 113 14 - - - 127 Consumer and other loans 1,499 - 3 6 - 1,508 Total loans $ 266,735 $ 13,632 $ 4,508 $ 7,805 $ - $ 292,680 Special June 30, 2015 Pass Pass-Watch Mention Substandard Doubtful Total Real estate loans: One-to-four family $ 242,399 $ 6,909 $ 1,568 $ 5,445 $ - $ 256,321 Multi-family 2,574 - - - - 2,574 Home equity 7,840 184 174 - - 8,198 Nonresidential 13,226 4,275 1,558 2,355 271 21,685 Agricultural 1,295 423 1,005 1,441 - 4,164 Construction and land 12,586 920 485 599 - 14,590 Total real estate loans 279,920 12,711 4,790 9,840 271 307,532 Commercial and industrial 169 15 - - - 184 Consumer and other loans 2,725 6 7 7 - 2,745 Total loans $ 282,814 $ 12,732 $ 4,797 $ 9,847 $ 271 $ 310,461

FAIR VALUE OF FINANCIAL INSTR24

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Mar. 31, 2016
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) (Level 3) March 31, June 30, 2016 2015 Financial assets: Securities available-for-sale $ 129,031 $ 109 $ 110,987 $ 180 Loan servicing rights - 1,168 - 1,396 Total financial assets $ 129,031 $ 1,277 $ 110,987 $ 1,576
Schedule of assets measured at fair value on a non-recurring basis	Fair Value Measurements (Level 3) (Level 3) March 31, June 30, 2016 2015 Impaired loans, with specific allocations: One-to-four family $ 2,061 $ 1,839 Nonresidential 869 1,309 Agricultural 948 - Construction and land 31 - Consumer and other loans 5 - Total financial assets 3,914 3,148 Non-financial assets: Real estate owned, net: One-to-four family 1,125 1,335 Nonresidential 436 365 Construction and land 168 392 Total non-financial assets 1,729 2,092 Total assets measured at fair value on a non-recurring basis $ 5,643 $ 5,240
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 Ended Three Months Ended March 31, 2016 March 31, 2015 FHLMC Loan FHLMC Loan Common Servicing Common Servicing Stock Rights Total Stock Rights Total Balance at beginning of period: $ 132 $ 1,310 $ 1,442 $ 167 $ 1,369 $ 1,536 Purchases - - - - - - Change in fair value (23 ) (142 ) (165 ) - (50 ) (50 ) Balance at end of period: $ 109 $ 1,168 $ 1,277 $ 167 $ 1,319 $ 1,486 Fair Value Measurements (Level 3) Nine Months Ended Nine Months Ended March 31, 2016 March 31, 2015 FHLMC Loan FHLMC Loan Common Servicing Common Servicing Stock Rights Total Stock Rights Total Balance at beginning of year: $ 180 $ 1,396 $ 1,576 $ 314 $ - $ 314 Purchases - - - - 1,369 1,369 Change in fair value (71 ) (228 ) (299 ) (147 ) (50 ) (197 ) Balance at end of period: $ 109 $ 1,168 $ 1,277 $ 167 $ 1,319 $ 1,486
Schedule of valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis	Level 3 Quantitative Information March 31, June 30, Valuation Unobservable 2016 2015 Technique Inputs Range Fair Value Fair Value Impaired real estate loans net, with specific allocations: One-to-four family $ 2,061 $ 1,839 Sales comparison approach Adjustment for differences between the comparable sales 0% to 30% Nonresidential 869 1,309 Discounted cash flows Discount rate, estimated timing of cash flows 2% to 28% Agricultural 948 - Discounted cash flows Discount rate, estimated timing of cash flows 0% to 30% Construction and land 31 - Sales comparison approach Adjustment for differences between the comparable sales 0% to 30% Consumer and other loans 5 - Discounted cash flows Discount rate, estimated timing of cash flows 0% to 30% Real estate owned net: One-to-four family $ 1,125 $ 1,335 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Nonresidential 436 365 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Construction and land 168 392 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20%
Schedule of estimated fair values of remaining on-balance sheet financial instruments	March 31, 2016 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 129,140 $ - $ 129,031 $ 109 $ 129,140 Loans, net 290,382 - - 290,211 290,211 Loans held for sale (1) 385 - - 385 385 Loan servicing rights 1,168 - - 1,168 1,168 Restricted equity securities (2) 433 N/A N/A N/A N/A Financial liabilities Deposits $ 397,311 $ 170,489 $ 226,856 $ - $ 397,345 June 30, 2015 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 111,167 $ - $ 110,987 $ 180 $ 111,167 Loans, net 308,259 - - 310,116 310,116 Loans held for sale (1) 118 - - 118 118 Loan servicing rights 1,396 - - 1,396 1,396 Restricted equity securities (2) 440 N/A N/A N/A N/A Financial liabilities Deposits $ 394,093 $ 137,618 $ 256,681 $ - $ 394,299 (1) Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 2 classification. (2) It is not practicable to determine fair value of restricted equity securities due to restrictions placed on transferability.

EMPLOYEE STOCK OWNERSHIP PLAN (

EMPLOYEE STOCK OWNERSHIP PLAN (Tables)	9 Months Ended
	Mar. 31, 2016
EMPLOYEE STOCK OWNERSHIP PLAN
Schedule of shares held by the ESOP	March 31, June 30, 2016 2015 Committed to be released to participants 5,935 9,938 Allocated to participants 106,924 85,248 Unearned 135,983 153,656 Total ESOP shares 248,842 248,842 Fair value of unearned shares $ 2,520 $ 2,827

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2016
STOCK BASED COMPENSATION
Summarizes stock option activity	Weighted- Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price/Share Life (in years) Value (1) Outstanding - July 1, 2015 248,686 $ 12.02 Granted 21,000 19.40 Exercised - - Forfeited (7,700 ) 17.16 Outstanding - March 31, 2016 261,986 $ 12.46 6.46 $ 1,590 Fully vested and exercisable at March 31, 2016 127,741 $ 11.65 6.46 $ 879 Expected to vest in future periods 134,245 Fully vested and expected to vest - March 31, 2016 261,986 $ 12.46 6.46 $ 1,590 (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 $18.53 per share on March 31, 2016.
Schedule of weighted-average fair value of options granted and assumptions used in the Black-Scholes-Merton option pricing model	Fiscal Years Granted 2016 2015 2014 2012 Risk-free interest rate 1.67 % 1.68 % 2.32 % 1.54 % Expected dividend yield 2.06 % 2.00 % 2.33 % 3.45 % Expected stock volatility 16.1 15.9 15.5 15.3 Expected life (years) 8 8 8 8 Fair value $ 2.75 $ 2.86 $ 2.46 $ 1.00
Summary of non-vested restricted stock activity	March 31, 2016 Balance - beginning of year 62,502 Granted 7,000 Forfeited (9,000 ) Vested (3,600 ) Balance - end of period 56,902 Weighted average grant date fair value $ 13.52

LOAN SERVICING RIGHTS (Tables)

LOAN SERVICING RIGHTS (Tables)	9 Months Ended
	Mar. 31, 2016
Transfers and Servicing [Abstract]
Schedule for principal balances of loans	March 31, June 30, 2016 2015 Mortgage loan portfolio serviced for: FHLMC $ 130,327 $ 141,195
Schedule of loan servicing rights for the three and six months	Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, 2016 2015 2016 2015 Loan servicing rights: Beginning of period: $ 1,310 $ 1,369 $ 1,396 $ - Additions - - - 1,369 Change in fair value (142 ) (50 ) (228 ) (50 ) End of period: $ 1,168 $ 1,319 $ 1,168 $ 1,319

SUPPLEMENTAL CASH FLOW INFORM28

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2016
SUPPLEMENTAL CASH FLOW INFORMATION
Schedule of supplemental cash flow information	March 31, March 31, 2016 2015 Cash paid during the period for: Interest paid $ 884 $ 932 Income taxes paid $ 117 $ 1,240 Supplemental noncash disclosures: Transfers from loans to real estate owned $ 1,613 $ 163 Acquisition: Assets acquired (excluding goodwill) $2,593 $ - $ 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)	Mar. 31, 2016
Oconee Federal, MHC
Basis of Presentation
Percentage of ownership in the entity	70.93%

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Earnings per share
Net income	$ 1,393	$ 1,196	$ 3,781	$ 3,267
Less: distributed earnings allocated to participating securities	(6)	(8)	(17)	(22)
Less: (undistributed income) dividends in excess of earnings allocated to participating securities	(7)	(8)	(20)	(22)
Net earnings available to common shareholders	$ 1,380	$ 1,180	$ 3,744	$ 3,223
Weighted average common shares outstanding including participating securities	5,877,820	5,880,480	5,881,993	5,853,577
Less: participating securities (in shares)	(56,902)	(78,499)	(56,902)	(78,499)
Less: average unearned ESOP shares	(131,696)	(161,110)	(141,192)	(170,051)
Weighted average common shares outstanding	5,689,222	5,640,871	5,683,899	5,605,027
Basic earnings per share (in dollars per share)	$ 0.24	$ 0.21	$ 0.66	$ 0.58
Weighted average common shares outstanding	5,689,222	5,640,871	5,683,899	5,605,027
Add: dilutive effects of assumed exercises of stock options	75,180	76,901	72,928	68,256
Average shares and dilutive potential common shares	5,764,402	5,717,772	5,756,827	5,673,283
Diluted earnings per share (in dollars per share)	$ 0.24	$ 0.21	$ 0.65	$ 0.57

EARNINGS PER SHARE ("EPS") (D31

EARNINGS PER SHARE ("EPS") (Detail Textuals) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Anti-dilutive shares	28,700	7,700	28,700	15,400

SECURITIES AVAILABLE-FOR-SALE32

SECURITIES AVAILABLE-FOR-SALE (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Available-for-sale:
Amortized Cost	$ 127,439	$ 111,208
Gross Unrealized Gains	1,846	785
Gross Unrealized Losses	(145)	(826)
Fair Value	129,140	111,167
Certificates of deposit
Available-for-sale:
Amortized Cost	7,221	7,221
Gross Unrealized Gains	$ 45	29
Gross Unrealized Losses		(8)
Fair Value	$ 7,266	7,242
Corporate debt securities
Available-for-sale:
Amortized Cost	5,336
Gross Unrealized Gains	$ 45
Gross Unrealized Losses
Fair Value	$ 5,381
Municipal securities
Available-for-sale:
Amortized Cost	30,143	13,574
Gross Unrealized Gains	558	11
Gross Unrealized Losses	(56)	(152)
Fair Value	30,645	13,433
SBA loan pools
Available-for-sale:
Amortized Cost	1,368	2,249
Gross Unrealized Gains	11	$ 17
Gross Unrealized Losses	(3)
Fair Value	1,376	$ 2,266
U.S. Government agency mortgage-backed securities
Available-for-sale:
Amortized Cost	68,432	64,177
Gross Unrealized Gains	911	488
Gross Unrealized Losses	(86)	(523)
Fair Value	69,257	64,142
U.S. Government agency bonds
Available-for-sale:
Amortized Cost	14,919	23,967
Gross Unrealized Gains	$ 187	80
Gross Unrealized Losses		(143)
Fair Value	$ 15,106	23,904
FHLMC | Common Stock
Available-for-sale:
Amortized Cost	20	20
Gross Unrealized Gains	$ 89	$ 160
Gross Unrealized Losses
Fair Value	$ 109	$ 180

SECURITIES AVAILABLE-FOR-SALE33

SECURITIES AVAILABLE-FOR-SALE (Details 1) $ in Thousands		Mar. 31, 2016USD ($)Security	Jun. 30, 2015USD ($)Security
Securities with unrealized losses
Less than 12 Months, Fair Value		$ 11,887	$ 38,141
Less than 12 Months, Unrealized Loss		$ (71)	$ (421)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	19	56
12 Months or More, Fair Value		$ 2,140	$ 16,688
12 Months or More, Unrealized Loss		$ (74)	$ (405)
12 Months or More, Number in Unrealized Loss | Security	[1]	8	16
Total, Fair Value		$ 14,027	$ 54,829
Total, Unrealized Loss		$ (145)	$ (826)
Total, Number in Unrealized Loss | Security	[1]	27	72
Certificates of deposit
Securities with unrealized losses
Less than 12 Months, Fair Value			$ 1,737
Less than 12 Months, Unrealized Loss			$ (6)
Less than 12 Months, Number in Unrealized Loss | Security	[1]		7
12 Months or More, Fair Value			$ 247
12 Months or More, Unrealized Loss			$ (2)
12 Months or More, Number in Unrealized Loss | Security	[1]		1
Total, Fair Value			$ 1,984
Total, Unrealized Loss			$ (8)
Total, Number in Unrealized Loss | Security	[1]		8
Municipal securities
Securities with unrealized losses
Less than 12 Months, Fair Value		$ 6,006	$ 10,472
Less than 12 Months, Unrealized Loss		$ (54)	$ (152)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	13	30
12 Months or More, Fair Value		$ 339
12 Months or More, Unrealized Loss		$ (2)
12 Months or More, Number in Unrealized Loss | Security	[1]	1
Total, Fair Value		$ 6,345	$ 10,472
Total, Unrealized Loss		$ (56)	$ (152)
Total, Number in Unrealized Loss | Security	[1]	14	30
SBA loan pools
Securities with unrealized losses
Less than 12 Months, Fair Value		$ 617
Less than 12 Months, Unrealized Loss		$ (3)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	1
12 Months or More, Fair Value
12 Months or More, Unrealized Loss
12 Months or More, Number in Unrealized Loss | Security	[1]
Total, Fair Value		$ 617
Total, Unrealized Loss		$ (3)
Total, Number in Unrealized Loss | Security	[1]	1
U.S. Government agency mortgage-backed securities
Securities with unrealized losses
Less than 12 Months, Fair Value		$ 5,264	$ 18,981
Less than 12 Months, Unrealized Loss		$ (14)	$ (195)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	5	15
12 Months or More, Fair Value		$ 1,801	$ 11,521
12 Months or More, Unrealized Loss		$ (72)	$ (328)
12 Months or More, Number in Unrealized Loss | Security	[1]	7	12
Total, Fair Value		$ 7,065	$ 30,502
Total, Unrealized Loss		$ (86)	$ (523)
Total, Number in Unrealized Loss | Security	[1]	12	27
U.S. Government agency bonds
Securities with unrealized losses
Less than 12 Months, Fair Value			$ 6,951
Less than 12 Months, Unrealized Loss			$ (68)
Less than 12 Months, Number in Unrealized Loss | Security	[1]		4
12 Months or More, Fair Value			$ 4,920
12 Months or More, Unrealized Loss			$ (75)
12 Months or More, Number in Unrealized Loss | Security	[1]		3
Total, Fair Value			$ 11,871
Total, Unrealized Loss			$ (143)
Total, Number in Unrealized Loss | Security	[1]		7
[1]	Actual amounts.

SECURITIES AVAILABLE-FOR-SALE34

SECURITIES AVAILABLE-FOR-SALE (Details 2) - USD ($) $ in Thousands		Mar. 31, 2016	Jun. 30, 2015
Amortized Cost
Less than one year		$ 1,494	$ 1,244
Due from one to five years		17,173	22,156
Due from six to ten years		30,595	11,450
Due after ten years		8,357	9,912
Mortgage-backed securities	[1]	69,800	66,426
Total		127,419	111,188
Fair Value
Less than one year		1,499	1,249
Due from one to five years		17,356	22,042
Due from six to ten years		31,068	11,412
Due after ten years		8,475	9,876
Mortgage-backed securities	[1]	70,633	66,408
Total		$ 129,031	$ 110,987
[1]	Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty.

SECURITIES AVAILABLE-FOR-SALE35

SECURITIES AVAILABLE-FOR-SALE (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Available-for-sale:
Proceeds	$ 5,058	$ 4,604	$ 6,213	$ 11,025
Gross gains	$ 95	$ 120	$ 104	$ 149
Gross losses

SECURITIES AVAILABLE-FOR-SALE36

SECURITIES AVAILABLE-FOR-SALE (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015
SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY
Securities pledged to secure public deposits	$ 6,068		$ 6,068		$ 5,951
Percentage holdings of securities greater than shareholders' equity	10.00%		10.00%		10.00%
Tax provision related to net realized gains	$ 34	$ 43	$ 37	$ 54

LOANS (Details)

LOANS (Details) - Loans receivable - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Loans
Total loans	$ 292,680	$ 310,461
Deferred net loan fees	(1,141)	(1,194)
Total loans net of deferred loan fees	291,539	309,267
Real estate loans
Loans
Total loans	291,045	307,532
Real estate loans | One-to-four family
Loans
Total loans	241,874	256,321
Real estate loans | Multi-family
Loans
Total loans	2,030	2,574
Real estate loans | Home equity
Loans
Total loans	6,947	8,198
Real estate loans | Nonresidential
Loans
Total loans	20,513	21,685
Real estate loans | Agricultural
Loans
Total loans	3,332	4,164
Real estate loans | Construction and land
Loans
Total loans	16,349	14,590
Commercial and industrial
Loans
Total loans	127	184
Consumer and other loans
Loans
Total loans	$ 1,508	$ 2,745

LOANS (Details 1)

LOANS (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Change in allowance for loan losses during the period
Beginning balance			$ 1,008
Provision for loan losses	$ 11	$ 7	433	$ 16
Ending balance	1,157		1,157
Loans receivable
Change in allowance for loan losses during the period
Beginning balance	1,148	864	1,008	855
Provision for loan losses	11	7	433	16
Charge-offs	$ (2)	$ (2)	$ (284)	$ (2)
Recoveries
Ending balance	$ 1,157	$ 869	$ 1,157	$ 869
Loans receivable | Real estate loans
Change in allowance for loan losses during the period
Beginning balance	1,123	863	999	852
Provision for loan losses	$ 20	$ 5	424	$ 16
Charge-offs			$ (280)
Recoveries
Ending balance	$ 1,143	$ 868	$ 1,143	$ 868
Loans receivable | Real estate loans | One-to-four family
Change in allowance for loan losses during the period
Beginning balance	961	782	910	736
Provision for loan losses	$ 17	$ 7	276	$ 53
Charge-offs			$ (208)
Recoveries
Ending balance	$ 978	$ 789	$ 978	$ 789
Loans receivable | Real estate loans | 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 | Real estate loans | Home equity
Change in allowance for loan losses during the period
Beginning balance	1	$ 1	1	$ 1
Provision for loan losses	$ 1		73
Charge-offs			$ (72)
Recoveries
Ending balance	$ 2	$ 1	$ 2	$ 1
Loans receivable | Real estate loans | Nonresidential
Change in allowance for loan losses during the period
Beginning balance	67	50	55	52
Provision for loan losses	$ 6	$ (1)	$ 18	$ (3)
Charge-offs
Recoveries
Ending balance	$ 73	$ 49	$ 73	$ 49
Loans receivable | Real estate loans | Agricultural
Change in allowance for loan losses during the period
Beginning balance	4		4
Provision for loan losses	$ 39		$ 39
Charge-offs
Recoveries
Ending balance	$ 43		$ 43
Loans receivable | Real estate loans | Construction and land
Change in allowance for loan losses during the period
Beginning balance	86	$ 26	25	$ 59
Provision for loan losses	$ (43)	$ (1)	$ 18	$ (34)
Charge-offs
Recoveries
Ending balance	$ 43	$ 25	$ 43	$ 25
Loans receivable | Commercial and industrial
Change in allowance for loan losses during the period
Beginning balance	8
Provision for loan losses	$ (1)		$ 7
Charge-offs
Recoveries
Ending balance	$ 7		$ 7
Loans receivable | Consumer and other loans
Change in allowance for loan losses during the period
Beginning balance	17	$ 1	9	$ 3
Provision for loan losses	(8)	2	2
Charge-offs	$ (2)	$ (2)	$ (4)	$ (2)
Recoveries
Ending balance	$ 7	$ 1	$ 7	$ 1

LOANS (Details 2)

LOANS (Details 2) - Loans receivable - USD ($) $ in Thousands	Mar. 31, 2016		Jun. 30, 2015
Ending Allowance on Loans:
Collectively Evaluated for Impairment	$ 745		$ 788
Loans:
Collectively Evaluated for Impairment	284,875		300,343
Real estate loans
Ending Allowance on Loans:
Collectively Evaluated for Impairment	736		786
Loans:
Collectively Evaluated for Impairment	283,246		297,421
Real estate loans | One-to-four family
Ending Allowance on Loans:
Collectively Evaluated for Impairment	637		707
Loans:
Collectively Evaluated for Impairment	237,175		250,877
Real estate loans | Multi-family
Ending Allowance on Loans:
Collectively Evaluated for Impairment	4		4
Loans:
Collectively Evaluated for Impairment	2,030		2,574
Real estate loans | Home equity
Ending Allowance on Loans:
Collectively Evaluated for Impairment	2		1
Loans:
Collectively Evaluated for Impairment	6,914		8,198
Real estate loans | Nonresidential
Ending Allowance on Loans:
Collectively Evaluated for Impairment	57		45
Loans:
Collectively Evaluated for Impairment	19,013		19,058
Real estate loans | Agricultural
Ending Allowance on Loans:
Collectively Evaluated for Impairment	3		4
Loans:
Collectively Evaluated for Impairment	2,384		2,723
Real estate loans | Construction and land
Ending Allowance on Loans:
Collectively Evaluated for Impairment	33		25
Loans:
Collectively Evaluated for Impairment	15,730		$ 13,991
Commercial and industrial
Ending Allowance on Loans:
Collectively Evaluated for Impairment	7
Loans:
Collectively Evaluated for Impairment	127		$ 184
Consumer and other loans
Ending Allowance on Loans:
Collectively Evaluated for Impairment	2		2
Loans:
Collectively Evaluated for Impairment	1,502		2,738
Non-PCI
Ending Allowance on Loans:
Individually Evaluated for Impairment	291		204
Loans:
Individually Evaluated for Impairment	2,724		2,673
Non-PCI | Real estate loans
Ending Allowance on Loans:
Individually Evaluated for Impairment	286		197
Loans:
Individually Evaluated for Impairment	2,718		2,666
Non-PCI | Real estate loans | One-to-four family
Ending Allowance on Loans:
Individually Evaluated for Impairment	284		197
Loans:
Individually Evaluated for Impairment	$ 2,636		$ 2,666
Non-PCI | Real estate loans | Multi-family
Ending Allowance on Loans:
Individually Evaluated for Impairment
Loans:
Individually Evaluated for Impairment
Non-PCI | Real estate loans | Home equity
Ending Allowance on Loans:
Individually Evaluated for Impairment
Loans:
Individually Evaluated for Impairment	$ 33
Non-PCI | Real estate loans | Nonresidential
Ending Allowance on Loans:
Individually Evaluated for Impairment
Loans:
Individually Evaluated for Impairment
Non-PCI | Real estate loans | Agricultural
Ending Allowance on Loans:
Individually Evaluated for Impairment
Loans:
Individually Evaluated for Impairment
Non-PCI | Real estate loans | Construction and land
Ending Allowance on Loans:
Individually Evaluated for Impairment	$ 2
Loans:
Individually Evaluated for Impairment	$ 49
Non-PCI | Commercial and industrial
Ending Allowance on Loans:
Individually Evaluated for Impairment
Loans:
Individually Evaluated for Impairment
Non-PCI | Consumer and other loans
Ending Allowance on Loans:
Individually Evaluated for Impairment	$ 5		$ 7
Loans:
Individually Evaluated for Impairment	6		7
PCI
Ending Allowance on Loans:
Individually Evaluated for Impairment	121	[1]	16	[2]
Loans:
Individually Evaluated for Impairment	5,081	[1]	7,445	[2]
PCI | Real estate loans
Ending Allowance on Loans:
Individually Evaluated for Impairment	121	[1]	16	[2]
Loans:
Individually Evaluated for Impairment	5,081	[1]	7,445	[2]
PCI | Real estate loans | One-to-four family
Ending Allowance on Loans:
Individually Evaluated for Impairment	57	[1]	6	[2]
Loans:
Individually Evaluated for Impairment	$ 2,063	[1]	$ 2,778	[2]
PCI | Real estate loans | Multi-family
Ending Allowance on Loans:
Individually Evaluated for Impairment		[1]		[2]
Loans:
Individually Evaluated for Impairment		[1]		[2]
PCI | Real estate loans | Home equity
Ending Allowance on Loans:
Individually Evaluated for Impairment		[1]		[2]
Loans:
Individually Evaluated for Impairment		[1]		[2]
PCI | Real estate loans | Nonresidential
Ending Allowance on Loans:
Individually Evaluated for Impairment	$ 16	[1]	$ 10	[2]
Loans:
Individually Evaluated for Impairment	1,500	[1]	$ 2,627	[2]
PCI | Real estate loans | Agricultural
Ending Allowance on Loans:
Individually Evaluated for Impairment	40	[1]		[2]
Loans:
Individually Evaluated for Impairment	948	[1]	$ 1,441	[2]
PCI | Real estate loans | Construction and land
Ending Allowance on Loans:
Individually Evaluated for Impairment	8	[1]		[2]
Loans:
Individually Evaluated for Impairment	$ 570	[1]	$ 599	[2]
PCI | Commercial and industrial
Ending Allowance on Loans:
Individually Evaluated for Impairment		[1]		[2]
Loans:
Individually Evaluated for Impairment		[1]		[2]
PCI | Consumer and other loans
Ending Allowance on Loans:
Individually Evaluated for Impairment		[1]		[2]
Loans:
Individually Evaluated for Impairment		[1]		[2]
[1]	"Purchase Credit Impaired" (or "PCI") loans include all loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected.
[2]	PCI loans include all loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected.

LOANS (Details 3)

LOANS (Details 3) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2016	Jun. 30, 2015
With recorded allowance:
Related Allowance	$ 412	$ 220
Total:
Related Allowance	412	220
Loans receivable
With no recorded allowance:
Unpaid Principal Balance	6,139	11,852
Recorded Investment	3,890	6,750
Average Recorded Investment	5,322	3,564
Interest Income Recognized	228	199
With recorded allowance:
Unpaid Principal Balance	5,649	4,029
Recorded Investment	3,915	3,368
Related Allowance	412	220
Average Recorded Investment	3,636	2,318
Interest Income Recognized	177	53
Total:
Unpaid Principal Balance	11,788	15,881
Recorded Investment	7,805	10,118
Related Allowance	412	220
Average Recorded Investment	8,958	5,882
Interest Income Recognized	405	252
Loans receivable | Real estate loans
With no recorded allowance:
Unpaid Principal Balance	6,139	11,852
Recorded Investment	3,890	6,750
Average Recorded Investment	5,322	3,564
Interest Income Recognized	228	199
With recorded allowance:
Unpaid Principal Balance	5,643	4,020
Recorded Investment	3,909	3,361
Related Allowance	407	213
Average Recorded Investment	3,636	2,318
Interest Income Recognized	177	53
Total:
Unpaid Principal Balance	11,782	15,872
Recorded Investment	7,799	10,111
Related Allowance	407	213
Average Recorded Investment	8,958	5,882
Interest Income Recognized	405	252
Loans receivable | Real estate loans | One-to-four family
With no recorded allowance:
Unpaid Principal Balance	3,487	4,651
Recorded Investment	2,638	3,403
Average Recorded Investment	3,021	1,889
Interest Income Recognized	89	92
With recorded allowance:
Unpaid Principal Balance	2,424	2,082
Recorded Investment	2,061	2,042
Related Allowance	340	203
Average Recorded Investment	2,052	1,658
Interest Income Recognized	82	28
Total:
Related Allowance	$ 340	$ 203
Loans receivable | Real estate loans | 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 | Real estate loans | Home equity
With no recorded allowance:
Unpaid Principal Balance	$ 225	$ 207
Recorded Investment	39
Average Recorded Investment	$ 20
Interest Income Recognized
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Related Allowance
Loans receivable | Real estate loans | Nonresidential
With no recorded allowance:
Unpaid Principal Balance	$ 1,307	$ 2,830
Recorded Investment	631	1,307
Average Recorded Investment	969	654
Interest Income Recognized	56	39
With recorded allowance:
Unpaid Principal Balance	1,306	1,938
Recorded Investment	869	1,319
Related Allowance	16	10
Average Recorded Investment	1,094	660
Interest Income Recognized	16	25
Total:
Related Allowance	$ 16	10
Loans receivable | Real estate loans | Agricultural
With no recorded allowance:
Unpaid Principal Balance		2,893
Recorded Investment		1,441
Average Recorded Investment	$ 721	721
Interest Income Recognized		$ 45
With recorded allowance:
Unpaid Principal Balance	$ 1,803
Recorded Investment	948
Related Allowance	40
Average Recorded Investment	474
Interest Income Recognized	79
Total:
Related Allowance	40
Loans receivable | Real estate loans | Construction and land
With no recorded allowance:
Unpaid Principal Balance	1,120	$ 1,271
Recorded Investment	582	599
Average Recorded Investment	591	300
Interest Income Recognized	83	$ 23
With recorded allowance:
Unpaid Principal Balance	110
Recorded Investment	31
Related Allowance	11
Average Recorded Investment	$ 16
Interest Income Recognized
Total:
Related Allowance	$ 11
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	$ 6	$ 9
Recorded Investment	6	7
Related Allowance	$ 5	$ 7
Average Recorded Investment
Interest Income Recognized
Total:
Unpaid Principal Balance	$ 6	$ 9
Recorded Investment	6	7
Related Allowance	$ 5	$ 7
Average Recorded Investment
Interest Income Recognized

LOANS (Details 4)

LOANS (Details 4) - Loans receivable - Acquired Loans - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount	$ 4,960	$ 7,429
Real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount	4,960	7,429
Real estate loans | One-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount	$ 2,011	$ 2,772
Real estate loans | Multi-family
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount
Real estate loans | Home equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount
Real estate loans | Nonresidential
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount	$ 1,484	$ 2,617
Real estate loans | Agricultural
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount	909	1,441
Real estate loans | Construction and land
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount	$ 556	$ 599
Commercial and industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount
Consumer and other loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Purchased credit impaired loans, net of related discount

LOANS (Details 5)

LOANS (Details 5) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2016
Accretable Yield
Balance at beginning of period, Accretable Yield	$ (518)	$ (694)
Subsequent adjustments, Accretable Yield
Liquidations, Accretable Yield		$ 123
Reductions from payments, Accretable Yield
Accretion, Accretable Yield	$ 123	$ 375
Reclassification from nonaccretable to accretable, Accretable Yield	$ (242)	$ (441)
Change in the allowance, Accretable Yield
Balance at end of period, Accretable Yield	$ (637)	$ (637)
Carrying Value
Balance at beginning of period, Carrying Value	$ 5,517	$ 7,429
Subsequent adjustments, Carrying Value
Liquidations, Carrying Value	$ (169)	$ (2,008)
Reductions from payments, Carrying Value	$ (315)	$ (356)
Accretion, Carrying Value
Reclassification from nonaccretable to accretable, Carrying Value
Change in the allowance, Carrying Value	$ (73)	$ (105)
Balance at end of period, Carrying Value	$ 4,960	$ 4,960

LOANS (Details 6)

LOANS (Details 6) $ in Thousands	9 Months Ended
	Mar. 31, 2016USD ($)
Certain Loans Acquired In Transfer Accounted For As Debt Securities Future Cash Flow Not Estimable [Roll Forward]
Balance at beginning of year	$ 2,798
Additions	132
Reductions from payments and liquidations	(1,211)
Balance at end of period	$ 1,719

LOANS (Details 7)

LOANS (Details 7) - Loans receivable - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 8,531	$ 11,204
Current	284,149	299,257
Total loans	292,680	310,461
Nonaccrual loans	$ 2,801	$ 4,177
Accruing loans past due 90 days or more
30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 5,505	$ 6,228
60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	840	1,557
90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	2,186	3,419
Real estate loans
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	8,531	11,202
Current	282,514	296,330
Total loans	291,045	307,532
Nonaccrual loans	$ 2,801	$ 4,177
Accruing loans past due 90 days or more
Real estate loans | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 5,505	$ 6,227
Real estate loans | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	840	1,556
Real estate loans | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	2,186	3,419
Real estate loans | One-to-four family
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	6,669	9,425
Current	235,205	246,896
Total loans	241,874	256,321
Nonaccrual loans	$ 1,317	$ 2,311
Accruing loans past due 90 days or more
Real estate loans | One-to-four family | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 4,672	$ 5,871
Real estate loans | One-to-four family | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	833	1,243
Real estate loans | One-to-four family | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 1,164	$ 2,311
Real estate loans | Multi-family
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Current	$ 2,030	$ 2,574
Total loans	$ 2,030	$ 2,574
Nonaccrual loans
Accruing loans past due 90 days or more
Real estate loans | Multi-family | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Real estate loans | Multi-family | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Real estate loans | Multi-family | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Real estate loans | Home equity
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 150	$ 49
Current	6,797	8,149
Total loans	6,947	$ 8,198
Nonaccrual loans	$ 39
Accruing loans past due 90 days or more
Real estate loans | Home equity | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 111	$ 49
Real estate loans | Home equity | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Real estate loans | Home equity | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 39
Real estate loans | Nonresidential
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	1,207	$ 1,650
Current	19,306	20,035
Total loans	20,513	21,685
Nonaccrual loans	$ 952	$ 1,379
Accruing loans past due 90 days or more
Real estate loans | Nonresidential | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 255	$ 229
Real estate loans | Nonresidential | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due		313
Real estate loans | Nonresidential | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 952	$ 1,108
Real estate loans | Agricultural
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	462
Current	2,870	$ 4,164
Total loans	3,332	4,164
Nonaccrual loans	$ 462	$ 487
Accruing loans past due 90 days or more
Real estate loans | Agricultural | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 462
Real estate loans | Agricultural | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Real estate loans | Agricultural | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Real estate loans | Construction and land
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 43	$ 78
Current	16,306	14,512
Total loans	16,349	$ 14,590
Nonaccrual loans	$ 31
Accruing loans past due 90 days or more
Real estate loans | Construction and land | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 5	$ 78
Real estate loans | Construction and land | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	7
Real estate loans | Construction and land | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 31
Commercial and industrial
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Current	$ 127	$ 184
Total loans	$ 127	$ 184
Nonaccrual loans
Accruing loans past due 90 days or more
Commercial and industrial | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Commercial and industrial | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Commercial and industrial | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Consumer and other loans
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due		$ 2
Current	$ 1,508	2,743
Total loans	$ 1,508	$ 2,745
Nonaccrual loans
Accruing loans past due 90 days or more
Consumer and other loans | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due		$ 1
Consumer and other loans | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due		$ 1
Consumer and other loans | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Acquired Loans | Real estate loans
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 1,719	$ 2,604
Current	3,356	4,841
Total loans	5,075	7,445
Nonaccrual loans	$ 1,719	$ 2,798
Accruing loans past due 90 days or more
Acquired Loans | Real estate loans | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 462	$ 251
Acquired Loans | Real estate loans | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	154	313
Acquired Loans | Real estate loans | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	1,103	2,040
Acquired Loans | Real estate loans | One-to-four family
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	280	1,169
Current	1,783	1,609
Total loans	2,063	2,778
Nonaccrual loans	$ 280	$ 932
Accruing loans past due 90 days or more
Acquired Loans | Real estate loans | One-to-four family | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due		$ 237
Acquired Loans | Real estate loans | One-to-four family | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 154
Acquired Loans | Real estate loans | One-to-four family | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	126	$ 932
Acquired Loans | Real estate loans | Home equity
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Current
Total loans
Nonaccrual loans
Accruing loans past due 90 days or more
Acquired Loans | Real estate loans | Home equity | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Acquired Loans | Real estate loans | Home equity | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Acquired Loans | Real estate loans | Home equity | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Acquired Loans | Real estate loans | Nonresidential
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	952	$ 1,435
Current	548	1,192
Total loans	1,500	2,627
Nonaccrual loans	$ 952	$ 1,379
Accruing loans past due 90 days or more
Acquired Loans | Real estate loans | Nonresidential | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due		$ 14
Acquired Loans | Real estate loans | Nonresidential | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due		313
Acquired Loans | Real estate loans | Nonresidential | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 952	$ 1,108
Acquired Loans | Real estate loans | Agricultural
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	462
Current	486	$ 1,441
Total loans	948	1,441
Nonaccrual loans	$ 462	$ 487
Accruing loans past due 90 days or more
Acquired Loans | Real estate loans | Agricultural | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 462
Acquired Loans | Real estate loans | Agricultural | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Acquired Loans | Real estate loans | Agricultural | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Acquired Loans | Real estate loans | Construction and land
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 25
Current	539	$ 599
Total loans	564	$ 599
Nonaccrual loans	$ 25
Accruing loans past due 90 days or more
Acquired Loans | Real estate loans | Construction and land | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Acquired Loans | Real estate loans | Construction and land | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Acquired Loans | Real estate loans | Construction and land | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 25

LOANS (Details 8)

LOANS (Details 8) - Loans receivable - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 292,680	$ 310,461
Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	291,045	307,532
Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	241,874	256,321
Real estate loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,030	2,574
Real estate loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	6,947	8,198
Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	20,513	21,685
Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	3,332	4,164
Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	16,349	14,590
Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	127	184
Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,508	2,745
Pass
Loan grade for each loan by portfolio segment and class
Loans, gross amount	266,735	282,814
Pass | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	265,123	279,920
Pass | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	227,461	242,399
Pass | Real estate loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,030	2,574
Pass | Real estate loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	6,380	7,840
Pass | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	13,362	13,226
Pass | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,285	1,295
Pass | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	14,605	12,586
Pass | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	113	169
Pass | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,499	2,725
Pass Watch
Loan grade for each loan by portfolio segment and class
Loans, gross amount	13,632	12,732
Pass Watch | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	13,618	12,711
Pass Watch | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 7,915	$ 6,909
Pass Watch | Real estate loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Pass Watch | Real estate loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 267	$ 184
Pass Watch | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,142	4,275
Pass Watch | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	404	423
Pass Watch | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	890	920
Pass Watch | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 14	15
Pass Watch | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount		6
Special mention
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 4,508	4,797
Special mention | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,505	4,790
Special mention | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 1,799	$ 1,568
Special mention | Real estate loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Special mention | Real estate loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 261	$ 174
Special mention | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,509	1,558
Special mention | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	695	1,005
Special mention | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 241	$ 485
Special mention | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Special mention | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 3	$ 7
Substandard
Loan grade for each loan by portfolio segment and class
Loans, gross amount	7,805	9,847
Substandard | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	7,799	9,840
Substandard | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 4,699	$ 5,445
Substandard | Real estate loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Substandard | Real estate loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 39
Substandard | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,500	$ 2,355
Substandard | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	948	1,441
Substandard | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 613	$ 599
Substandard | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Substandard | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 6	$ 7
Doubtful
Loan grade for each loan by portfolio segment and class
Loans, gross amount		271
Doubtful | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount		$ 271
Doubtful | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Doubtful | Real estate loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Doubtful | Real estate loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Doubtful | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount		$ 271
Doubtful | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Doubtful | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Doubtful | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Doubtful | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount

LOANS (Detail Textuals)

LOANS (Detail Textuals) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2016USD ($)Loan	Mar. 31, 2016USD ($)Loan	Jun. 30, 2015USD ($)Loan
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amount of accretion recognized	$ 119	$ 131
Loans receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unpaid Principal Balance	11,788	11,788	$ 15,881
Recorded Investment	7,805	7,805	10,118
Loans receivable | Acquired Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Carrying amounts net of allowance for loan losses	121	$ 121	16
Loans receivable | One-to-four family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Maximum loan to value ratios for low to moderate income borrowers		95.00%
Loans receivable | Multi-family | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of multi family real estate loans		5 years
Loans receivable | Home equity | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of home equity loans		10 years
Amortization period of financing receivable		20 years
Loans receivable | Nonresidential | Minimum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of non residential real estate loans		5 years
Loans receivable | Nonresidential | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of non residential real estate loans		20 years
Amortization period of financing receivable		20 years
Loan to value ratio		75.00%
Loans receivable | Agricultural | Minimum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of agricultural loans		5 years
Loans receivable | Agricultural | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortization period of financing receivable		20 years
Loan to value ratio		75.00%
Term of agricultural loans		20 years
Loans receivable | Construction and land | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loan to value ratio		80.00%
Loans receivable | PCI loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unpaid Principal Balance	9,064	$ 9,064	13,209
Recorded Investment	5,081	5,081	7,445
Loans receivable | Real estate loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unpaid Principal Balance	11,782	11,782	15,872
Recorded Investment	$ 7,799	$ 7,799	$ 10,111
Loans receivable | Real estate loans | One-to-four family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loan-to-value ratio for owner-occupied loans (as a percent)		80.00%
Loan to value ratios if borrower obtains mortgage insurance or provides readily marketable collateral		80.00%
Current offer of mortgage up to limit		$ 95
Loan to value ratios for non owner occupied homes		80.00%
Maximum loan to value ratios for manufactured or modular homes		75.00%
Loans receivable | Real estate loans | Multi-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortization period of financing receivable		30 years
Loans made as a percentage of lesser of appraised value or purchase price		75.00%
Loans receivable | Real estate loans | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans | Loan	1	1	1
Maximum term of adjustable rate and fixed rate options		10 years
Loan to value ratio		80.00%
Loans receivable | Real estate loans | Agricultural
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans | Loan	1	1	1
Loans receivable | Real estate loans | Construction and land
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of construction and land loans		12 months
Term of construction of homes on speculation loans		8 months
Maximum loan to value ratio of homes on speculation loans		85.00%
Loans receivable | Real estate loans | Home equity and Agricultural
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded investment in troubled debt restructuring	$ 462	$ 462	$ 487
Loans receivable | Consumer and other loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unpaid Principal Balance	6	6	9
Recorded Investment	6	$ 6	$ 7
Term of financing receivable for unsecured loans		18 months
Consumer mortgage loans secured by residential real estate properties in formal foreclosure proceedings	$ 302	$ 302
Loans receivable | Consumer and other loans | Minimum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of financing receivable for secured by vehicle		18 months
Loans receivable | Consumer and other loans | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of financing receivable for secured by vehicle		60 months

FAIR VALUE OF FINANCIAL INSTR47

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Financial assets:
Securities available-for-sale	$ 129,140	$ 111,167
Level 2
Financial assets:
Securities available-for-sale	$ 129,031	$ 110,987
Loan servicing rights
Level 3
Financial assets:
Securities available-for-sale	$ 109	$ 180
Loan servicing rights	1,168	1,396
Recurring basis | Level 2
Financial assets:
Securities available-for-sale	$ 129,031	$ 110,987
Loan servicing rights
Total financial assets	$ 129,031	$ 110,987
Recurring basis | Level 3
Financial assets:
Securities available-for-sale	109	180
Loan servicing rights	1,168	1,396
Total financial assets	$ 1,277	$ 1,576

FAIR VALUE OF FINANCIAL INSTR48

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 1) - Non-recurring basis - Level 3 - Impaired loans - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Impaired real estate loans, with specific allocations:
Total financial assets	$ 3,914	$ 3,148
Real estate owned, net:
Total non-financial assets	1,729	2,092
Total assets measured at fair value on a non-recurring basis	5,643	5,240
One-to-four family
Impaired real estate loans, with specific allocations:
Total financial assets	2,061	1,839
Real estate owned, net:
Total non-financial assets	1,125	1,335
Nonresidential
Impaired real estate loans, with specific allocations:
Total financial assets	869	1,309
Real estate owned, net:
Total non-financial assets	436	$ 365
Agricultural
Impaired real estate loans, with specific allocations:
Total financial assets	948
Construction and land
Impaired real estate loans, with specific allocations:
Total financial assets	31
Real estate owned, net:
Total non-financial assets	168	$ 392
Consumer and other loans
Impaired real estate loans, with specific allocations:
Total financial assets	$ 5

FAIR VALUE OF FINANCIAL INSTR49

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) - Recurring basis - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year:	$ 1,442	$ 1,536	$ 1,576	$ 314
Purchases				1,369
Change in fair value	$ (165)	$ (50)	$ (299)	(197)
Balance at end of period:	1,277	1,486	1,277	1,486
FHLMC | Common Stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year:	$ 132	$ 167	$ 180	$ 314
Purchases
Change in fair value	$ (23)		$ (71)	$ (147)
Balance at end of period:	109	$ 167	109	$ 167
Loan Servicing Rights
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of year:	$ 1,310	$ 1,369	$ 1,369
Purchases				$ 1,369
Change in fair value	$ (142)	$ (50)	$ (228)	(50)
Balance at end of period:	$ 1,168	$ 1,319	$ 1,168	$ 1,319

FAIR VALUE OF FINANCIAL INSTR50

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Jun. 30, 2015
Valuation techniques
Real estate owned	$ 1,729	$ 2,092
Level 3
Valuation techniques
Impaired real estate loans net, with specific allocations	290,211	310,116
Non-recurring basis | Level 3 | One-to-four family | Sales comparison approach
Valuation techniques
Real estate owned	$ 1,125	1,335
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 | Nonresidential | Sales comparison approach
Valuation techniques
Real estate owned	$ 436	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 | Construction and land | Sales comparison approach
Valuation techniques
Real estate owned	$ 168	392
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 | Impaired loans | One-to-four family | Sales comparison approach
Valuation techniques
Impaired real estate loans net, with specific allocations	$ 2,061	1,839
Non-recurring basis | Level 3 | Impaired loans | 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 | Impaired loans | One-to-four family | Sales comparison approach | Maximum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	30.00%
Non-recurring basis | Level 3 | Impaired loans | Nonresidential | Discounted cash flows
Valuation techniques
Impaired real estate loans net, with specific allocations	$ 869	$ 1,309
Non-recurring basis | Level 3 | Impaired loans | Nonresidential | Discounted cash flows | Minimum
Valuation techniques
Discount rate, estimated timing of cash flows	2.00%
Non-recurring basis | Level 3 | Impaired loans | Nonresidential | Discounted cash flows | Maximum
Valuation techniques
Discount rate, estimated timing of cash flows	28.00%
Non-recurring basis | Level 3 | Impaired loans | Agricultural | Discounted cash flows
Valuation techniques
Impaired real estate loans net, with specific allocations	$ 948
Non-recurring basis | Level 3 | Impaired loans | Agricultural | Discounted cash flows | Minimum
Valuation techniques
Discount rate, estimated timing of cash flows	0.00%
Non-recurring basis | Level 3 | Impaired loans | Agricultural | Discounted cash flows | Maximum
Valuation techniques
Discount rate, estimated timing of cash flows	30.00%
Non-recurring basis | Level 3 | Impaired loans | Construction and land | Sales comparison approach
Valuation techniques
Impaired real estate loans net, with specific allocations	$ 31
Non-recurring basis | Level 3 | Impaired loans | 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 | Impaired loans | Construction and land | Sales comparison approach | Maximum
Valuation techniques
Adjustment for differences between the comparable sales (as a percent)	30.00%
Non-recurring basis | Level 3 | Impaired loans | Consumer and other loans | Discounted cash flows
Valuation techniques
Impaired real estate loans net, with specific allocations	$ 5
Non-recurring basis | Level 3 | Impaired loans | Consumer and other loans | Discounted cash flows | Minimum
Valuation techniques
Discount rate, estimated timing of cash flows	0.00%
Non-recurring basis | Level 3 | Impaired loans | Consumer and other loans | Discounted cash flows | Maximum
Valuation techniques
Discount rate, estimated timing of cash flows	30.00%

FAIR VALUE OF FINANCIAL INSTR51

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) - USD ($) $ in Thousands		Mar. 31, 2016	Jun. 30, 2015
Financial assets
Securities available-for-sale		$ 129,140	$ 111,167
Carrying Amount
Financial assets
Securities available-for-sale		129,140	111,167
Loans, net		290,382	308,259
Loans held for sale	[1]	385	118
Loan servicing rights		1,168	1,396
Restricted equity securities	[2]	433	440
Financial liabilities
Deposits		$ 397,311	$ 394,093
Level 1
Financial assets
Securities available-for-sale
Loans, net
Loans held for sale	[1]
Loan servicing rights
Financial liabilities
Deposits		$ 170,489	$ 137,618
Level 2
Financial assets
Securities available-for-sale		$ 129,031	$ 110,987
Loans, net
Loans held for sale	[1]
Loan servicing rights
Financial liabilities
Deposits		$ 226,856	$ 256,681
Level 3
Financial assets
Securities available-for-sale		109	180
Loans, net		290,211	310,116
Loans held for sale	[1]	385	118
Loan servicing rights		$ 1,168	$ 1,396
Financial liabilities
Deposits
Fair Value
Financial assets
Securities available-for-sale		$ 129,140	$ 111,167
Loans, net		290,211	310,116
Loans held for sale	[1]	385	118
Loan servicing rights		1,168	1,396
Financial liabilities
Deposits		$ 397,345	$ 394,299
[1]	Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 2 classification.
[2]	It is not practicable to determine fair value of restricted equity securities due to restrictions placed on transferability.

FAIR VALUE OF FINANCIAL INSTR52

FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015
FAIR VALUE OF FINANCIAL INSTRUMENTS
Carrying amount of impaired loans	$ 3,914		$ 3,914		$ 3,148
Valuation allowances of impaired loans	412		412		220
Recorded investments of consumer and other loans					7
Valuation allowances of consumer and other loans					7
Increase in the valuation allowance	10	$ 0	302	$ 16
Carrying value of real estate owned	1,729		1,729		2,092
Real estate owned, valuation allowance	19		19		$ 84
Write-downs for real estate owned	$ 0	$ 112	$ 110	$ 112

EMPLOYEE STOCK OWNERSHIP PLAN53

EMPLOYEE STOCK OWNERSHIP PLAN (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Shares held by the ESOP
Committed to be released to participants	5,935	9,938
Allocated to participants	106,924	85,248
Unearned	135,983	153,656
Total ESOP shares	248,842	248,842
Fair value of unearned shares	$ 2,520	$ 2,827

EMPLOYEE STOCK OWNERSHIP PLAN54

EMPLOYEE STOCK OWNERSHIP PLAN (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2011
EMPLOYEE STOCK OWNERSHIP PLAN
Employee stock ownership plan, employer loan for shares					248,842
Common stock share price					$ 10
ESOP compensation expense recognized	$ 92	$ 91	$ 427	$ 384
Payment of discretionary contribution to the ESOP for additional debt retirement			100	100
Additional compensation expense recognized for ESOP			$ 190	$ 160

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details) - Stock options $ / shares in Units, $ in Thousands	9 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Options
Outstanding at the beginning of the period (in shares)	248,686
Granted (in shares)	21,000
Exercised (in shares)
Forfeited (in shares)	(7,700)
Outstanding at the end of the period (in shares)	261,986
Fully vested and exercisable at the end of the period (in shares)	127,741
Expected to vest in future periods (in shares)	134,245
Fully vested and expected to vest at the end of the period (in shares)	261,986
Weighted Average Exercise Price/Share
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 12.02
Granted (in dollars per share) | $ / shares	$ 19.40
Exercised (in dollars per share) | $ / shares
Forfeited (in dollars per share) | $ / shares	$ 17.16
Outstanding at the end of the period (in dollars per share) | $ / shares	12.46
Fully vested and exercisable at the end of the period (in dollars per share) | $ / shares	11.65
Fully vested and expected to vest at the end of the period (in dollars per share) | $ / shares	$ 12.46
Weighted Average Remaining Contractual Life (in years)
Outstanding at the end of the period	6 years 5 months 16 days
Fully vested and exercisable at the end of the period	6 years 5 months 16 days
Fully vested and expected to vest at the end of the period	6 years 5 months 16 days
Aggregate Intrinsic Value
Outstanding at the end of the period | $	$ 1,590	[1]
Fully vested and exercisable at the end of the period | $	879	[1]
Fully vested and expected to vest at the end of the period | $	$ 1,590	[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 $18.53 per share on March 31, 2016.

STOCK BASED COMPENSATION (Det56

STOCK BASED COMPENSATION (Details 1) - Stock options - Weighted average - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2012
Weighted average assumptions
Risk-free interest rate (as a percent)	1.67%	1.68%	2.32%	1.54%
Expected dividend yield (as a percent)	2.06%	2.00%	2.33%	3.45%
Expected stock volatility (as a percent)	16.10%	15.90%	15.50%	15.30%
Expected life (years)	8 years	8 years	8 years	8 years
Fair value (in dollars per share)	$ 2.75	$ 2.86	$ 2.46	$ 1

STOCK BASED COMPENSATION (Det57

STOCK BASED COMPENSATION (Details 2) - $ / shares	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Non-vested stock activity
Granted (in shares)	7,000	12,600
Restricted stock
Non-vested stock activity
Balance - beginning of year (in shares)	62,502
Granted (in shares)	7,000
Forfeited (in shares)	(9,000)
Vested (in shares)	(3,600)
Balance - end of period (in shares)	56,902
Weighted average grant date fair value (in dollars per share)	$ 13.52

STOCK BASED COMPENSATION (Det58

STOCK BASED COMPENSATION (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	Feb. 05, 2016	Nov. 13, 2013	Apr. 27, 2012	Jan. 23, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Apr. 05, 2012	Jun. 30, 2011
Stock based compensation
Common stock share price										$ 10
Weighted average grant date fair value (in dollars per share)							$ 19.40	$ 20.01
Closing price of common stock					$ 18.53		$ 18.53
Common Stock | Maximum
Stock based compensation
Shares authorized									435,472
Stock options
Stock based compensation
Shares authorized	21,000
Options earned (in shares)							22,935	21,835
Stock-based compensation expense					$ 7	$ 12	$ 29	$ 34
Total unrecognized compensation cost related to stock options					107		$ 107
Expected period for recognition							3 years 4 months 24 days
Vesting period	5 years
Weighted average vesting period	5 years 8 months 12 days
Stock options expiration period	10 years
Stock options | Maximum
Stock based compensation
Shares authorized									311,052
Restricted stock
Stock based compensation
Stock-based compensation expense					55	$ 60	$ 184	$ 169
Weighted average grant date fair value (in dollars per share)	$ 19.40	$ 17.16	$ 11.58	$ 20.01
Total grant date fair value	$ 136	$ 216	$ 1,009	$ 252
Unrecognized compensation expense for nonvested restricted stock awards					$ 609		$ 609
Expected period for recognition							3 years 4 months 24 days
Number of restricted stock granted to officers	7,000
Vesting period	7 years
Weighted average vesting period	6 years
Restricted stock | Maximum
Stock based compensation
Shares authorized									124,420

LOAN SERVICING RIGHTS (Details)

LOAN SERVICING RIGHTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Servicing Assets at Fair Value [Line Items]
Mortgage loan portfolio serviced	$ 1,168	$ 1,396
FHLMC
Servicing Assets at Fair Value [Line Items]
Mortgage loan portfolio serviced	$ 130,327	$ 141,195

LOAN SERVICING RIGHTS (Details

LOAN SERVICING RIGHTS (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Loan servicing rights:
Beginning of period:	$ 1,310	$ 1,369	$ 1,396
Additions				$ 1,369
Change in fair value	$ (142)	$ (50)	$ (228)	(50)
End of period:	$ 1,168	$ 1,319	$ 1,168	$ 1,319

LOAN SERVICING RIGHTS (Detail T

LOAN SERVICING RIGHTS (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015
Servicing Assets at Fair Value [Line Items]
Discount rate	9.38%	9.50%
Weighted average default rate	0.61%	0.61%
Minimum
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	9.00%	7.00%
Maximum
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	19.70%	19.80%
FHLMC
Servicing Assets at Fair Value [Line Items]
Custodial escrow balances	$ 719		$ 986

SUPPLEMENTAL CASH FLOW INFORM62

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash paid during the period for:
Interest paid	$ 884	$ 932
Income taxes paid	117	1,240
Supplemental noncash disclosures:
Transfers from loans to real estate owned	$ 1,613	163
Acquisition:
Assets acquired (excluding goodwill) $2,593		137,985
Liabilities assumed		140,155
Acquisition price (common stock issued to OFED, MHC)		700
Goodwill recorded		$ 2,870

SUPPLEMENTAL CASH FLOW INFORM63

SUPPLEMENTAL CASH FLOW INFORMATION (Parentheticals) (Details) $ in Thousands	Mar. 31, 2015USD ($)
Supplemental Cash FlowInformation [Abstract]
Goodwill on acquisition	$ 2,593

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals) - $ / shares	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 22, 2016	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)		$ 0.10	$ 0.10	$ 0.30	$ 0.30
Subsequent event | Dividend declared
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.10
Dividends payable, date declared	Apr. 22, 2016
Dividends payable, date of record	May 5, 2016
Dividends payable, date to be paid	May 19, 2016