Oconee Federal Financial (OFED) 10-Q 12 May 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2017	May 10, 2017
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		5,773,527
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
ASSETS
Cash and due from banks	$ 4,375	$ 4,874
Interest-earning deposits	20,664	22,802
Total cash and cash equivalents	25,039	27,676
Securities available-for-sale	115,576	132,084
Loans, net	305,962	292,063
Allowance for loan losses	(1,067)	(922)
Net loans	304,895	291,141
Loans held for sale	226	129
Premises and equipment, net	6,642	6,811
Real estate owned, net	811	1,354
Accrued interest receivable
Loans	896	1,016
Investments	508	492
Restricted equity securities, at cost	1,023	1,021
Bank owned life insurance	17,948	17,558
Goodwill	2,593	2,593
Core deposit intangible	616	744
Loan servicing rights	1,216	1,046
Deferred tax assets	2,251	1,128
Other assets	395	847
Total assets	480,635	485,640
Deposits
Noninterest bearing	24,984	23,356
Interest bearing	369,918	376,278
Total deposits	394,902	399,634
Accrued interest payable and other liabilities	977	605
Total liabilities	395,879	400,239
SHAREHOLDERS' EQUITY
Common stock, $0.01 par value, 100,000,000 shares authorized; 6,463,039 shares issued and outstanding, respectively	65	65
Treasury stock, at par, 689,512 and 634,131 shares, respectively	(7)	(6)
Additional paid-in capital	12,120	12,882
Retained earnings	74,201	71,909
Accumulated other comprehensive (loss) income	(568)	1,808
Unearned ESOP shares	(1,055)	(1,257)
Total shareholders' equity	84,756	85,401
Total liabilities and shareholders' equity	$ 480,635	$ 485,640

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2017	Jun. 30, 2016
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 issued	6,463,039	6,463,039
Common stock, shares outstanding	6,463,039	6,463,039
Treasury stock, shares	689,512	634,131

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Interest and dividend income:
Loans, including fees	$ 3,633	$ 3,984	$ 11,009	$ 11,717
Securities, taxable	382	458	1,213	1,278
Securities, tax-exempt	186	135	544	342
Interest-earning deposits and other	57	39	134	81
Total interest income	4,258	4,616	12,900	13,418
Interest expense:
Deposits	329	291	972	875
Total interest expense	329	291	972	875
Net interest income	3,929	4,325	11,928	12,543
Provision for loan losses	105	11	193	433
Net interest income after provision for loan losses	3,824	4,314	11,735	12,110
Noninterest income:
Service charges on deposit accounts	107	120	318	360
Income on bank owned life insurance	137	144	390	384
Mortgage banking income	75	95	250	286
Gain on sales of securities, net	3	94	128	104
Gain on disposition of purchase credit impaired loans	482		678	809
Other	2	15	4	33
Total noninterest income	806	468	1,768	1,976
Noninterest expense:
Salaries and employee benefits	1,743	1,649	4,884	4,995
Occupancy and equipment	372	427	1,110	1,141
Data processing	112	144	383	403
Professional and supervisory fees	140	271	596	688
Office expense	92	68	188	167
Advertising	44	39	122	139
FDIC deposit insurance	34	56	125	164
Foreclosed assets, net	6	28	43	251
Change in loan servicing asset	3	142	(170)	228
Other	169	206	487	533
Total noninterest expense	2,715	3,030	7,768	8,709
Income before income taxes	1,915	1,752	5,735	5,377
Income tax expense	527	359	1,759	1,596
Net income	1,388	1,393	3,976	3,781
Other comprehensive income
Unrealized (losses) gains on securities available-for-sale	458	1,642	(3,585)	1,846
Tax effect	(164)	(591)	1,291	(665)
Reclassification adjustment for gains realized in net income	(3)	(94)	(128)	(104)
Tax effect	1	34	46	37
Total other comprehensive (loss) income	292	991	(2,376)	1,114
Comprehensive (loss) income	$ 1,680	$ 2,384	$ 1,600	$ 4,895
Basic net income per share: (Note 3)	$ 0.24	$ 0.24	$ 0.70	$ 0.66
Diluted net income per share: (Note 3)	0.24	0.24	0.69	0.65
Dividends declared per share:	$ 0.10	$ 0.10	$ 0.30	$ 0.30

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - 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, 2015		$ 65	$ (6)	$ 13,354	$ 68,950	$ (26)	$ (1,547)	$ 80,790
Increase (Decrease) in Shareholders' Equity
Net income					3,781			3,781
Other comprehensive income (loss)						1,114		1,114
Purchase of 17,675 and 55,381 shares of treasury stock for nine months ended March 31, 2016 and March 31, 2017 respectively.	[1]			(342)				(342)
Issuance of 7,000 shares of restricted stock	[2]
Stock-based compensation expense				213				213
Dividends	[3]			35	(1,697)			(1,662)
ESOP shares earned				180			237	417
Balance at Mar. 31, 2016		65	(6)	13,440	71,034	1,088	(1,310)	84,311
Balance at Jun. 30, 2016		65	(6)	12,882	71,909	1,808	(1,257)	85,401
Increase (Decrease) in Shareholders' Equity
Net income					3,976			3,976
Other comprehensive income (loss)						(2,376)		(2,376)
Purchase of 17,675 and 55,381 shares of treasury stock for nine months ended March 31, 2016 and March 31, 2017 respectively.	[4]		(1)	(1,209)				(1,210)
Stock-based compensation expense				225				225
Dividends	[5]			44	(1,684)			(1,640)
ESOP shares earned				178			202	380
Balance at Mar. 31, 2017		$ 65	$ (7)	$ 12,120	$ 74,201	$ (568)	$ (1,055)	$ 84,756
[1]	The weighted average cost of treasury shares purchased during the nine months ended was $19.32 per share. Treasury stock repurchases were accounted for using the par value method.
[2]	On February 5, 2016, the Company granted 7,000 shares of restricted stock. The grant date fair value of these shares was $19.40.
[3]	Approximately $99 of cash dividends paid on shares in the ESOP was used as an additional principal reduction on the ESOP debt, resulting in the release of approximately 7,891 additional shares. The portion of the dividend paid on allocated shares of approximately $35 was treated as a dividend. The remaining portion of the dividend payment and resulting release of approximately 7,891 shares was accounted for as additional compensation expense of approximately $64 for the nine months ended March 31, 2016.
[4]	The weighted average cost of treasury shares purchased during the nine months ended was $21.84 per share. Treasury stock repurchases were accounted for using the par value method.
[5]	Approximately $99 of cash dividends paid on shares in the ESOP was used as an additional principal reduction on the ESOP debt, resulting in the release of approximately 8,938 additional shares. The portion of the dividend paid on allocated shares of approximately $44 was treated as a dividend. The remaining portion of the dividend payment and resulting release of approximately 8,938 shares was accounted for as additional compensation expense of approximately $55 for the nine months ended March 31, 2017.

CONSOLIDATED STATEMENTS OF CHA6

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parentheticals) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Purchase of treasury stock (in shares)	55,381	17,675
Number of restricted stock granted		7,000
Weighted average cost of treasury shares	$ 21.48	$ 19.32
Cash dividends on ESOP shares	$ 99	$ 99
Number of additional shares released (in shares)	8,938	7,891
Dividend paid on allocated shares	$ 44	$ 35
Release of shares upon dividend payment (in shares)	8,938	7,891
Additional compensation expense	$ 55	$ 64

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows From Operating Activities
Net income	$ 3,976	$ 3,781
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	193	433
Provision for real estate owned	103	110
Depreciation and amortization, net	1,095	1,077
Net accretion of purchase accounting adjustments	(35)	(212)
Deferred income tax expense	214	1,390
Net (gain) loss on sale of real estate owned	(95)	68
Change in loan servicing asset	(170)	228
Net gain on sales of securities	(128)	(104)
Mortgage loans originated for sale	(1,769)	(3,579)
Mortgage loans sold	1,707	3,352
Gain on sales of mortgage loans	(35)	(40)
Increase in cash surrender value of bank owned life insurance	(390)	(384)
Gain on disposition of purchased credit impaired loans	(678)	(809)
ESOP compensation expense	380	417
Stock based compensation expense	225	213
Net change in operating assets and liabilities:
Accrued interest receivable and other assets	556	(117)
Accrued interest payable and other liabilities	372	701
Net cash provided by operating activities	5,521	6,525
Cash Flows From Investing Activities
Purchases of premises and equipment	(152)	(258)
Purchases of securities available-for-sale	(21,521)	(40,008)
Proceeds from maturities, paydowns and calls of securities available-for-sale	12,950	17,094
Proceeds from sales of securities available-for-sale	20,848	6,213
Purchases of restricted equity securities	(2)
Redemptions of restricted equity securities		7
Purchases of bank owned life insurance		(8,000)
Proceeds from sale of real estate owned	812	1,798
Dispositions of purchased credit impaired loans	1,009	3,251
Loan originations and repayments, net	(14,520)	13,601
Net cash used in investing activities	(576)	(6,302)
Cash Flows from Financing Activities
Net change in deposits	(4,732)	3,218
Dividends paid	(1,640)	(1,662)
Purchase of treasury stock	(1,210)	(342)
Net cash (used in) provided by financing activities	(7,582)	1,214
Change in cash and cash equivalents	(2,637)	1,437
Cash and cash equivalents, beginning of period	27,676	26,192
Cash and cash equivalents, end of period	$ 25,039	$ 27,629

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	(1) BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Oconee Federal Financial Corp., which include the accounts of its wholly owned subsidiary Oconee Federal Savings and Loan Association (the “Association”) (referred to herein as “the Company,” “we,” “us,” or “our”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Intercompany accounts and transactions are eliminated during consolidation. The Company is majority owned (72.13%) by Oconee Federal, MHC. These financial statements do not include the transactions and balances of Oconee Federal, MHC. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the Company’s financial position as of March 31, 2017 and June 30, 2016 and the results of operations and cash flows for the interim periods ended March 31, 2017 and 2016. 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 or any other period. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2016. Certain amounts have been reclassified to conform to the current period presentation. The reclassifications had no effect on net income or shareholders’ equity as previously reported. Cash Flows: Use of Estimates:

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	9 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING STANDARDS	(2) NEW ACCOUNTING STANDARDS In March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2017-08 Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities . In January 2017, the FASB issued ASU No. 2017-04 Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment . In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 provides cash flow statement classification guidance for certain transactions including how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years and should be applied retrospectively. Early adoption is permitted, including adoption in an interim period. The Company is assessing ASU 2016-15 but does not expect that it will have a significant impact on its accounting and disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments. The provisions of ASU 2016-13 were issued to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other commitments to extend credit held by a reporting entity at each reporting date. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 eliminate the probable incurred loss recognition in current GAAP and reflect an entity’s current estimate of all expected credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets. For purchased financial assets with a more-than-insignificant amount of credit deterioration since origination (“PCD assets”) that are measured at amortized cost, the initial allowance for credit losses is added to the purchase price rather than being reported as a credit loss expense. Subsequent changes in the allowance for credit losses on PCD assets are recognized through the statement of income as a credit loss expense. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the impact of ASU 2016-13 on its accounting and disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation, which requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also allows an employer to repurchase more of an employee’s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election for forfeitures as they occur. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted. The Company does not believe that this new guidance will have a material effect on the consolidated financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	9 Months Ended
	Mar. 31, 2017
EARNINGS PER SHARE ("EPS")
EARNINGS PER SHARE ("EPS")	(3) EARNINGS PER SHARE (“EPS”) Basic EPS is based on the weighted average number of common shares outstanding and is adjusted for ESOP shares not yet committed to be released. Unvested restricted stock awards, which contain rights to non-forfeitable dividends, are considered participating securities and the two-class method of computing basic and diluted EPS is applied. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as outstanding stock options, were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is calculated by adjusting the weighted average number of shares of common stock outstanding to include the effect of contracts or securities exercisable (such as stock options) or which could be converted into common stock, if dilutive, using the treasury stock method. The factors used in the earnings per common share computation follow: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Earnings per share Net income $ 1,388 $ 1,393 $ 3,976 $ 3,781 Less: distributed earnings allocated to participating securities (4 ) (6 ) (11 ) (17 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities (5 ) (7 ) (15 ) (20 ) Net earnings available to common shareholders $ 1,379 $ 1,380 $ 3,950 $ 3,744 Weighted average common shares outstanding including participating securities 5,786,109 5,877,820 5,797,217 5,881,993 Less: participating securities (37,905 ) (56,902 ) (37,905 ) (56,902 ) Less: average unearned ESOP shares (100,211 ) (131,696 ) (111,304 ) (141,192 ) Weighted average common shares outstanding 5,647,993 5,689,222 5,648,008 5,683,899 Basic earnings per share $ 0.24 $ 0.24 $ 0.70 $ 0.66 Weighted average common shares outstanding 5,647,993 5,689,222 5,648,008 5,683,899 Add: dilutive effects of assumed exercises of stock options 100,972 75,180 93,534 72,928 Average shares and dilutive potential common shares 5,748,965 5,764,402 5,741,542 5,756,827 Diluted earnings per share $ 0.24 $ 0.24 $ 0.69 $ 0.65 During the three and nine months ended March 31, 2017 no shares were considered anti-dilutive. During the three and nine months ended March 31, 2016, 28,700 shares were considered anti-dilutive as the exercise price was above the average market price for the respective periods.

SECURITIES AVAILABLE-FOR-SALE

SECURITIES AVAILABLE-FOR-SALE	9 Months Ended
	Mar. 31, 2017
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, 2017 and June 30, 2016 are as follows: Gross Gross Amortized Unrealized Unrealized Fair March 31, 2017 Cost Gains Losses Value Available-for-sale: FHLMC common stock $ 20 $ 182 $ - $ 202 Certificates of deposit 7,723 22 (18 ) 7,727 Municipal securities 36,605 85 (608 ) 36,082 SBA loan pools 597 4 - 601 U.S. Government agency mortgage-backed securities 58,433 186 (561 ) 58,058 U.S. Government agency bonds 13,085 13 (192 ) 12,906 Total available-for-sale $ 116,463 $ 492 $ (1,379 ) $ 115,576 Gross Gross Amortized Unrealized Unrealized Fair June 30, 2016 Cost Gains Losses Value Available-for-sale: FHLMC common stock $ 20 $ 131 $ - $ 151 Certificates of deposit 7,470 64 - 7,534 Corporate debt securities 8,932 186 (2 ) 9,116 Municipal securities 33,508 989 (16 ) 34,481 SBA loan pools 1,268 8 (3 ) 1,273 U.S. Government agency mortgage-backed securities 68,103 1,331 (31 ) 69,403 U.S. Government agency bonds 9,957 169 - 10,126 Total available-for-sale $ 129,258 $ 2,878 $ (52 ) $ 132,084 Securities pledged at March 31, 2017 and June 30, 2016 had fair values of $6,032 and $6,114, respectively. These securities were pledged to secure public deposits. At March 31, 2017 and June 30, 2016, 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, 2017 and June 30, 2016. The tables also show the number of securities in an unrealized loss position for each category of investment security as of the respective dates. Less than 12 Months 12 Months or More Total Fair Unrealized Number in Unrealized Loss (1) Fair Unrealized Number in Unrealized Loss (1) Fair Unrealized Number in Loss (1) March 31, 2017 Available-for-sale: Certificates of deposit $ 1,978 $ (18 ) 8 $ - $ - - $ 1,978 $ (18 ) 8 Municipal securities 23,991 (520 ) 57 1,920 (88 ) 4 25,911 (608 ) 61 U.S. Government agency mortgage-backed securities 39,013 (500 ) 41 2,409 (61 ) 4 41,422 (561 ) 45 U.S. Government agency bonds 10,893 (192 ) 10 - - - 10,893 (192 ) 10 $ 75,875 $ (1,230 ) 116 $ 4,329 $ (149 ) 8 $ 80,204 $ (1,379 ) 124 Less than 12 Months 12 Months or More Total Fair Unrealized Number in Unrealized Loss (1) Fair Unrealized Number in Unrealized Loss (1) Fair Unrealized Number in Unrealized Loss (1) June 30, 2016 Available-for-sale: Municipal securities $ 2,574 $ (11 ) 5 $ 716 $ (5 ) 2 $ 3,290 $ (16 ) 7 Corporate debt securities 1,018 (2 ) 2 - - - 1,018 (2 ) 2 SBA loan pools - - - 508 (3 ) 1 508 (3 ) 1 U.S. Government agency mortgage-backed securities 1,057 (1 ) 1 2,982 (30 ) 4 4,039 (31 ) 5 $ 4,649 $ (14 ) 8 $ 4,206 $ (38 ) 7 $ 8,855 $ (52 ) 15 (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, 2017 were recognized into net income for the three or nine months ended March 31, 2017 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, 2016 were recognized as having OTTI during the year ended June 30, 2016. The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2017 and June 30, 2016 by contractual maturity. FHLMC common stock is not presented in this table. March 31, 2017 June 30, 2016 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ 2,739 $ 2,743 $ 3,740 $ 3,751 Due from one to five years 17,041 16,968 16,819 17,086 Due from five to ten years 28,574 28,203 30,778 31,622 Due after ten years 9,059 8,801 8,530 8,798 Mortgage-backed securities (1) 59,030 58,659 69,371 70,676 Total $ 116,443 $ 115,374 $ 129,238 $ 131,933 (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, 2017 and 2016: Three Months Ended Nine Months Ended Available-for-sale: March 31, March 31, March 31, March 31, Proceeds $ 5,200 $ 5,058 $ 20,848 $ 6,213 Gross gains 26 94 201 104 Gross losses (23 ) - (73 ) - The tax provision related to these net realized gains for the three and nine months ended March 31, 2017 was $22 and $46, respectively, and for the three and nine months ended March 31, 2016 was $34 and $37, respectively.

LOANS

LOANS	9 Months Ended
	Mar. 31, 2017
LOANS
LOANS	(5) LOANS The components of loans at March 31, 2017 and June 30, 2016 were as follows: March 31, June 30, Real estate loans: One-to-four family $ 256,213 $ 242,067 Multi-family 1,901 1,996 Home equity 5,264 6,433 Nonresidential 19,573 20,310 Agricultural 1,470 2,958 Construction and land 17,226 14,332 Total real estate loans 301,647 288,096 Commercial and industrial 163 176 Consumer and other loans 5,228 4,915 Total loans 307,038 293,187 Deferred net loan fees (1,076 ) (1,124 ) Total loans net of deferred loan fees $ 305,962 $ 292,063 The following tables present the activity in the allowance for loan losses for the three and nine months ended March 31, 2017 by portfolio segment: Three Months Ended March 31, 2017 Beginning Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 795 $ 88 $ (33 ) $ - $ 850 Multi-family 4 - - - 4 Home equity 2 - - - 2 Nonresidential 124 5 - - 129 Agricultural 2 (1 ) - - 1 Construction and land 39 9 - - 48 Total real estate loans 966 101 (33 ) - 1,034 Commercial and industrial 5 - - - 5 Consumer and other loans 25 4 (1 ) - 28 Total loans $ 996 $ 105 $ (34 ) $ - $ 1,067 Nine Months Ended March 31, 2017 Beginning Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 733 $ 150 $ (33 ) $ - $ 850 Multi-family 4 - - - 4 Home equity 2 - - - 2 Nonresidential 130 13 (14 ) - 129 Agricultural 5 (4 ) - - 1 Construction and land 39 9 - - 48 Total real estate loans 913 168 (47 ) - 1,034 Commercial and industrial 6 (1 ) - - 5 Consumer and other loans 3 26 (1 ) - 28 Total loans $ 922 $ 193 $ (48 ) $ - $ 1,067 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at March 31, 2017: Ending Allowance on Loans: Loans: Individually Evaluated for Collectively Individually Evaluated for Collectively At March 31, 2017 Non-PCI PCI (1) Non-PCI PCI (1) Real estate loans: One-to-four family $ 21 $ 125 $ 704 $ 980 $ 1,954 $ 252,341 Multi-family - - 4 - - 1,899 Home equity - - 2 - - 5,264 Nonresidential - 68 61 455 469 18,638 Agricultural - - 1 448 - 1,021 Construction and land - 9 39 - 497 16,619 Total real estate loans 21 202 811 1,883 2,920 295,782 Commercial and industrial - - 5 - - 163 Consumer and other loans - - 28 - - 5,214 Total loans $ 21 $ 202 $ 844 $ 1,883 $ 2,920 $ 301,159 (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, 2016 by portfolio segment: Three Months Ended March 31, 2016 Beginning Provision Charge-offs Recoveries Ending 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 Beginning Provision Charge-offs Recoveries Ending 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 June 30, 2016: Ending Allowance on Loans: Loans: Individually Evaluated for Collectively Individually Evaluated for Collectively At June 30, 2016 Non-PCI PCI (1) Non-PCI PCI (1) Real estate loans: One-to-four family $ 55 $ 46 $ 632 $ 1,014 $ 1,904 $ 238,161 Multi-family - - 4 - - 1,994 Home equity - - 2 - - 6,575 Nonresidential - 72 58 - 1,492 18,807 Agricultural - - 5 448 - 2,509 Construction and land - 11 28 - 525 13,558 Total real estate loans 55 129 729 1,462 3,921 281,604 Commercial and industrial - - 6 - - 176 Consumer and other loans - - 3 - - 4,900 Total loans $ 55 $ 129 $ 738 $ 1,462 $ 3,921 $ 286,680 (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, 2017 and June 30, 2016, including the average recorded investment balance and interest earned for the nine months ended March 31, 2017 and year ended June 30, 2016: March 31, 2017 Unpaid Recorded Related Average Interest With no recorded allowance: Real estate loans: One-to-four family $ 629 $ 489 $ - $ 741 $ 36 Multi-family - - - - - Home equity - - - - - Nonresidential 603 479 - 795 8 Agricultural 997 448 - 448 34 Construction and land 811 452 - 319 36 Total real estate loans 3,040 1,868 - 2,303 114 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 3,040 $ 1,868 $ - $ 2,303 $ 114 With recorded allowance: Real estate loans: One-to-four family $ 3,027 $ 2,445 $ 146 $ 2,182 $ 168 Multi-family - - - - - Home equity - - - - - Nonresidential 550 445 68 414 30 Agricultural - - - - - Construction and land 185 45 9 196 16 Total real estate loans 3,762 2,935 223 2,792 214 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 3,762 $ 2,935 $ 223 $ 2,792 $ 214 Totals: Real estate loans $ 6,802 $ 4,803 $ 223 $ 5,095 $ 328 Consumer and other loans - - - - - Total $ 6,802 $ 4,803 $ 223 $ 5,095 $ 328 The unpaid principal balance and recorded investment includes PCI loans of $4,401 and $2,920, respectively, at March 31, 2017. June 30, 2016 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 1,787 $ 1,000 $ - $ 2,198 $ 113 Multi-family - - - - - Home equity 185 - - - - Nonresidential 2,192 1,110 - 1,209 72 Agricultural 997 448 - 945 - Construction and land 359 178 - 392 35 Total real estate loans 5,520 2,736 - 4,744 220 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 5,520 $ 2,736 $ - $ 4,744 $ 220 With recorded allowance: Real estate loans: One-to-four family $ 2,021 $ 1,918 $ 101 $ 1,980 $ 89 Multi-family - - - - - Home equity - - - - - Nonresidential 404 382 72 851 25 Agricultural - - - - - Construction and land 767 347 11 174 61 Total real estate loans 3,192 2,647 184 3,005 175 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 3,192 $ 2,647 $ 184 $ 3,005 $ 175 Totals: Real estate loans $ 8,712 $ 5,383 $ 184 $ 7,749 $ 395 Consumer and other loans - - - - - Total $ 8,712 $ 5,383 $ 184 $ 7,749 $ 395 The unpaid principal balance and recorded investment in PCI loans was $6,546 and $3,921, respectively, at June 30, 2016. 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, 2017 and June 30, 2016: March 31, June 30, Real estate loans: One-to-four family $ 1,829 $ 1,858 Multi-family - - Home equity - - Nonresidential 401 1,420 Agricultural - - Construction and land 488 514 Total real estate loans 2,718 3,792 Commercial and industrial - - Consumer and other loans - - Total loans $ 2,718 $ 3,792 Carrying amounts listed above are net of an allowance for loan losses of $202 and $129 at March 31, 2017 and June 30, 2016, 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, 2017 and 2016: Three Months Ended Three Months Ended Accretable Carrying Accretable Carrying Balance at beginning of period $ 1,257 $ 3,194 $ 518 $ 5,052 Payments and other exit events (429 ) (530 ) 242 (142 ) Accretion (105 ) 105 (123 ) 123 Reclassification from nonaccretable to accretable - - - - Change in the allowance - (51 ) - (73 ) Balance at end of period $ 723 $ 2,718 $ 637 $ 4,960 Nine Months Ended Nine Months Ended Accretable Carrying Accretable Carrying Balance at beginning of year $ 1,340 $ 3,792 $ 694 $ 7,429 Payments and other exit events (354 ) (1,264 ) 296 (2,739 ) Accretion (263 ) 263 (375 ) 375 Reclassification from nonaccretable to accretable - - 22 - Change in the allowance - (73 ) - (105 ) Balance at end of period $ 723 $ 2,718 $ 637 $ 4,960 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, 2017 and 2016 is as follows: March 31, March 31, Balance at beginning of year $ 1,139 $ 2,798 Additions 275 132 Reductions from payments and liquidations (1,088 ) (1,211 ) Balance at end of period $ 326 $ 1,719 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, 2017: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 5,479 $ 1,316 $ 773 $ 7,568 $ 247,707 $ 255,275 $ 2,351 $ - Multi-family - - - - 1,899 1,899 - - Home equity 55 - 40 95 5,169 5,264 89 - Nonresidential 1,101 46 455 1,602 17,960 19,562 502 - Agricultural - - - - 1,469 1,469 520 - Construction and land 36 234 35 305 16,811 17,116 35 - Total real estate loans 6,671 1,596 1,303 9,570 291,015 300,585 3,497 - Commercial and industrial - - - - 163 163 - - Consumer and other loans 3 - - 3 5,211 5,214 - - Total $ 6,674 $ 1,596 $ 1,303 $ 9,573 $ 296,389 $ 305,962 $ 3,497 $ - PCI past due and nonaccrual loans at March 31, 2017: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 150 $ 143 $ 262 $ 555 $ 1,399 $ 1,954 $ 280 $ - Nonresidential 315 47 - 362 107 469 46 - Construction and land - 45 - 45 452 497 - - Total loans $ 465 $ 235 $ 262 $ 962 $ 1,958 $ 2,920 $ 326 $ - 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, 2016: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 7,086 $ 1,001 $ 863 $ 8,950 $ 232,129 $ 241,079 $ 2,133 $ - Multi-family - - - - 1,994 1,994 - - Home equity 94 22 84 200 6,375 6,575 126 - Nonresidential - 48 942 990 19,309 20,299 942 - Agricultural - - - - 2,957 2,957 531 - Construction and land 93 - 25 118 13,965 14,083 25 - Total real estate loans 7,273 1,071 1,914 10,258 276,729 286,987 3,757 - Commercial and industrial - - - - 176 176 - - Consumer and other loans - - - - 4,900 4,900 - - Total $ 7,273 $ 1,071 $ 1,914 $ 10,258 $ 281,805 $ 292,063 $ 3,757 $ - PCI past due and nonaccrual loans at June 30, 2016: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ - $ 389 $ 21 $ 410 $ 1,494 $ 1,904 $ 172 $ - Nonresidential - 48 942 990 502 1,492 942 - Construction and land - - 25 25 500 525 25 - Total loans $ - $ 437 $ 988 $ 1,425 $ 2,496 $ 3,921 $ 1,139 $ - 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, 2017 and June 30, 2016, total loans that have been modified as troubled debt restructurings were $1,577 and $1,588, respectively, which consisted of two agricultural loans, two home equity lines of credit, and one one-to-four family first liens at June 30, 2016 and an additional one-to-four family loan at March 31, 2017. All loans were acquired and initially recorded at fair value. An additional allowance of $21 and $55 at March 31, 2017 and June 30, 2016, respectively, 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. The one troubled debt restructuring during the nine months ended March 31, 2017 involved renewal of a loan at a higher loan-to-value ratio than is offered on similar loans. No reductions of principal or interest rates were granted. No loans restructured during the past twelve months defaulted. Loan Grades: The Company utilizes a grading system whereby all loans are assigned a grade based on the risk profile of each loan. Loan grades are determined based on an evaluation of relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. All loans, regardless of size, are analyzed and are given a grade based upon the management’s assessment of the ability of borrowers to service their debts. Pass: Loan assets of this grade conform to a preponderance of our underwriting criteria and are acceptable as a credit risk, based upon the current net worth and paying capacity of the obligor. Loans in this category also include loans secured by liquid assets and secured loans to borrowers with unblemished credit histories. Pass-Watch: Loan assets of this grade represent our minimum level of acceptable credit risk. This grade may also represent obligations previously rated “Pass”, but with significantly deteriorating trends or previously rated. Special Mention: Loan assets of this grade have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loan assets of this grade are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Portfolio Segments: One-to-four family: For traditional homes, the Company may originate loans with loan-to-value ratios in excess of 80% if the borrower obtains mortgage insurance or provides readily marketable collateral. The Company may make exceptions for special loan programs that we offer. The Company also originates residential mortgage loans for non-owner-occupied homes with loan-to-value ratios of up to 80%. The Company 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. The Company requires lower loan-to-value ratios for manufactured and modular homes because such homes tend to depreciate over time. Manufactured or modular homes must be permanently affixed to a lot to make them more difficult to move without the Company’s permission. Such homes must be “de-titled” by the State of South Carolina or Georgia so that they are taxed and must be transferred as residential homes rather than vehicles. The Company also obtains a mortgage on the real estate to which such homes are affixed. Multi-family: Multi-family real estate loans generally present a higher level of risk than loans secured by one-to-four family residences. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income-producing properties and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family residential real estate is typically dependent upon the successful operation of the related real estate project. Home Equity: Nonresidential Real Estate: Loans secured by nonresidential real estate generally are larger than one-to-four family residential loans and involve greater credit risk. Nonresidential real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Repayment of these loans depends to a large degree on the results of operations and management of the properties securing the loans or the businesses conducted on such property, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general, including the current adverse conditions. Our nonresidential real estate lending includes a significant amount of loans to churches. Because a church’s financial stability often depends on donations from congregation members rather than income from business operations, repayment may be affected by economic conditions that affect individuals located both in our market area and in other market areas with which we are not as familiar. In addition, due to the unique nature of church buildings and properties, the real estate securing church loans may be less marketable than other nonresidential real estate. The Company considers a number of factors in originating nonresidential real estate loans. The Company evaluates the qualifications and financial condition of the borrower, including credit history, cash flows, the applicable business plan, the financial resources of the borrower, the borrower’s experience in owning or managing similar property and the borrower’s payment history with the Company and other financial institutions. In evaluating the property securing the loan, the factors the Company considers include the net operating income of the mortgaged property before debt service and depreciation, the ratio of the loan amount to the appraised value of the mortgaged property and the debt service coverage ratio (the ratio of net operating income to debt service). For church loans, the Company also considers the length of time the church has been in existence, the size and financial strength of the denomination with which it is affiliated, attendance figures and growth projections and current operating budgets. The collateral underlying all nonresidential real estate loans is appraised by outside independent appraisers approved by our board of directors. Personal guarantees may be obtained from the principals of nonresidential real estate borrowers, and in the case of church loans, guarantees from the applicable denomination may be obtained. Agricultural: Loans secured by agricultural real estate generally are larger than one-to-four family residential loans and involve greater credit risk. Agricultural real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Repayment of these loans depends to a large degree on the results of operations and management of the properties securing the loans or the businesses conducted on such property, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general, including the current adverse conditions. Construction and Land: The Company also makes interim construction loans for nonresidential properties. In addition, the Company occasionally makes loans for the construction of homes “on speculation,” but the Company generally permits a borrower to have only two such loans at a time. These loans generally have a maximum term of eight months, and upon completion of construction convert to conventional amortizing nonresidential real estate loans. These construction loans have rates and terms comparable to permanent loans secured by property of the type being constructed that we originate. Generally, the maximum loan-to-value ratio of these construction loans is 85%. Commercial and Industrial Loans: Commercial and industrial loans and leases typically are underwritten on the basis of the borrower’s or lessee’s ability to make repayment from the cash flow of its business and generally are collateralized by business assets. As a result, such loans and leases involve additional complexities, variables and risks and require more thorough underwriting and servicing than other types of loans and leases. Consumer and Other Loans: Consumer loans may entail greater credit risk than residential mortgage loans, particularly in the case of consumer loans that are unsecured or are secured by rapidly depreciable assets, such as automobiles. In addition, consumer loan collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be affected by adverse personal circumstances. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. Based on the most recent analysis performed, the risk grade of loans by portfolio segment are presented in the following tables. Separate tables are presented to show the risk grade of loans that have been acquired. Total loans by risk grade and portfolio segment at March 31, 2017: Pass Pass- Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 240,363 $ 6,426 $ 2,614 $ 5,872 $ - $ 255,275 Multi-family 1,899 - - - - 1,899 Home equity 4,614 297 258 95 - 5,264 Nonresidential 13,612 3,659 1,367 924 - 19,562 Agricultural 295 380 274 520 - 1,469 Construction and land 15,279 849 231 757 - 17,116 Total real estate loans 276,062 11,611 4,744 8,168 - 300,585 Commercial and industrial 163 - - - - 163 Consumer and other loans 5,211 - 1 2 - 5,214 Total $ 281,436 $ 11,611 $ 4,745 $ 8,170 $ - $ 305,962 Total loans by risk grade and portfolio segment at June 30, 2016: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 226,899 $ 6,805 $ 1,890 $ 5,485 $ - $ 241,079 Multi-family 1,994 - - - - 1,994 Home equity 6,083 106 260 126 - 6,575 Nonresidential 13,218 4,095 1,494 1,492 - 20,299 Agricultural 1,352 398 676 531 - 2,957 Construction and land 12,397 878 239 569 - 14,083 Total real estate loans 261,943 12,282 4,559 8,203 - 286,987 Commercial and industrial 157 19 - - - 176 Consumer and other loans 4,892 - 3 5 - 4,900 Total $ 266,992 $ 12,301 $ 4,562 $ 8,208 $ - $ 292,063 At March 31, 2017, consumer mortgage loans secured by residential real estate properties totaling $224 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, 2017
FAIR VALUE MEASUREMENTS
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). Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals, which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for both collateral-dependent impaired loans and real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. Loan Servicing Rights: Fair value is determined based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data and results in a Level 3 classification. Assets and liabilities measured at fair value on a recurring basis at March 31, 2017 and June 30, 2016 are summarized below: Fair Value Measurements March 31, 2017 June 30, 2016 (Level 2) (Level 3) (Level 2) (Level 3) Financial assets: Securities available-for-sale: FHLMC common stock $ 202 $ - $ 151 $ - Certificates of deposit 7,727 - 7,534 - Corporate debt securities - - 9,116 - Municipal securities 36,082 - 34,481 - SBA loan pools 601 - 1,273 - U.S. Government agency mortgage-backed securities 58,058 - 69,403 - U.S. Government agency bonds 12,906 - 10,126 - Total securities available-for-sale 115,576 - 132,084 - Loan servicing rights - 1,216 - 1,046 Total financial assets $ 115,576 $ 1,216 $ 132,084 $ 1,046 Presented in the table below are assets measured at fair value on a nonrecurring basis using level 3 inputs at March 31, 2017 and June 30, 2016: Fair Value Measurements March 31, June 30, (Level 3) (Level 3) Financial assets: Impaired loans, with specific allocations: One-to-four family $ 2,299 $ 1,817 Nonresidential 377 310 Construction and land 36 336 Total financial assets 2,712 2,463 Non-financial assets: Real estate owned, net: One-to-four family 811 899 Nonresidential - 267 Construction and land - 188 Total non-financial assets 811 1,354 Total assets measured at fair value on a non-recurring basis $ 3,523 $ 3,817 The Company’s impaired loans at and June 30, 2016 were measured at fair value based primarily upon the estimated value of real estate collateral less costs to sell. The carrying amounts of these loans were $2,712 and $2,463, respectively, which consisted of valuation allowances of $223 and $184, respectively. The impact to the provision for loan losses from the change in the valuation allowance for the three and nine months ended March 31, 2017 was an increase of $38 and $39, respectively, and for the three and nine months ended March 31, 2016 was an increase of $10 and $302, 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, 2017 and June 30, 2016 were $811 and $1,354 and $103 and $102, 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, 2017, were $0 and $103, 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 tables below present a reconciliation of all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs for the three and nine months ended March 31, 2017 and 2016: Fair Value Measurements (Level 3) Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan Servicing Loan Servicing Loan Servicing Loan Servicing Balance at beginning of period: $ 1,219 $ 1,310 $ 1,046 $ 1,396 Purchases - - - - Change in fair value (3 ) (142 ) 170 (228 ) Balance at end of period: $ 1,216 $ 1,168 $ 1,216 $ 1,168 The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value at March 31, 2017 and June 30, 2016. Level 3 Quantitative Information March 31, June 30, Valuation Unobservable Range Fair Value Fair Value Loan servicing rights $ 1,216 $ 1,046 Discounted cash flows Discount rate, estimated timing of cash flows 9% to 10% Impaired real estate loans net, One-to-four family $ 2,299 $ 1,817 Sales comparison approach Adjustment for differences between the comparable sales 0% to 30% Nonresidential 377 310 Discounted cash flows Discount rate, estimated timing of cash flows 2% to 28% Construction and land 36 336 Sales comparison approach Adjustment for differences between the comparable sales 0% to 30% Real estate owned net: One-to-four family $ 811 $ 899 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Nonresidential - 267 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Construction and land - 188 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, 2017 and June 30, 2016 are summarized below: March 31, 2017 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 115,576 $ - $ 115,576 $ - $ 115,576 Loans, net 304,895 - - 309,950 309,950 Loans held for sale (1) 226 - - 226 226 Loan servicing rights 1,216 - - 1,216 1,216 Restricted equity securities 1,023 N/A N/A N/A N/A Financial liabilities Deposits $ 394,902 $ 188,669 $ 206,366 $ - $ 395,035 June 30, 2016 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 132,084 $ - $ 132,084 $ - $ 132,084 Loans, net 291,141 - - 296,203 296,203 Loans held for sale (1) 129 - - 129 129 Loan servicing rights 1,046 - - 1,046 1,046 Restricted equity securities 1,021 N/A N/A N/A N/A Financial liabilities Deposits $ 399,634 $ 175,652 $ 224,037 $ - $ 399,689 (1) Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis.

EMPLOYEE STOCK OWNERSHIP PLAN (

EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP")	9 Months Ended
	Mar. 31, 2017
EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP")
EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP")	(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. The Company makes contributions to the ESOP each December. In December 2016, $50 of discretionary contributions were made to the ESOP for debt retirement, which resulted in the release of additional shares and recognition of additional compensation expense of $0 and $88, respectively, for the three and nine months ended March 31, 2017. In December 2015, $100 of discretionary contributions were made to the ESOP for debt retirement, which resulted in the release of additional shares and recognition of additional compensation expense of $0 and $160, respectively, for the three and nine months ended March 31, 2016. Total ESOP compensation expense for the three and nine months ended March 31, 2017 was $107 and $380, respectively, and for the three and nine months ended March 31, 2016 was $77 and $417, respectively. Shares held by the ESOP at March 31, 2017 and June 30, 2016 were as follows: March 31, June 30, Committed to be released to participants 5,654 10,602 Allocated to participants 139,781 112,043 Unearned 96,411 126,197 Total ESOP shares 241,846 248,842 Fair value of unearned shares $ 2,368 $ 2,470

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Mar. 31, 2017
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 five years or seven years, a percentage of which vests annually on each anniversary of the grant date. The weighted average vesting period of stock options 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, 2017: Options Weighted- Weighted- Aggregate Intrinsic Value (1) Outstanding - June 30, 2016 261,986 $ 12.46 Granted - - Exercised - - Forfeited - - Outstanding - March 31, 2017 261,986 $ 12.46 2.02 $ 3,170,031 Fully vested and exercisable at March 31, 2017 174,854 $ 11.86 2.02 $ 2,221,343 Expected to vest in future periods 87,132 Fully vested and expected to vest - March 31, 2017 261,986 $ 12.46 2.02 $ 3,170,031 (1) The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The current market price was based on the closing price of common stock of $24.56 per share on March 31, 2017. The fair value for each option grant is estimated on the date of grant using the Black-Scholes-Merton option pricing model that uses the following assumptions. The Company uses the U.S. Treasury yield curve in effect at the time of the grant to determine the risk-free interest rate. The expected dividend yield is estimated using the projected annual dividend level and recent stock price of the Company’s common stock at the date of grant. Expected stock volatility is based on historical volatilities of the SNL Financial Index of Thrifts. The expected life of the options is calculated based on the “simplified” method as provided for under generally accepted accounting principles. The weighted-average fair value of options granted and assumptions used in the Black-Scholes-Merton option pricing model in the fiscal years granted are listed below: Fiscal Years 2016 Risk-free interest rate 1.67 % Expected dividend yield 2.06 % Expected stock volatility 16.1 Expected life (years) 8 Fair value $ 2.75 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 35,367 and 33,616 options that were earned during the nine months ended March 31, 2017 and 2016, respectively. Stock-based compensation expense for stock options for the three and nine months ended March 31, 2017 was $14 and $42, respectively, and for the three and nine months ended March 31, 2016 was $13 and $37, respectively. Total unrecognized compensation cost related to stock options was $83 at March 31, 2017 and is expected to be recognized over a weighted-average period of 2.0 years. The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2017: March 31, Balance - beginning of year 40,905 Granted - Forfeited - Vested (3,000 ) Balance - end of period 37,905 Weighted average grant date fair value $ 13.09 The fair value of the restricted stock awards is amortized to compensation expense over their respective vesting periods and is based on the market price of the Company’s common stock at the date of grant multiplied by the number of shares granted that are expected to vest. The weighted-average grant date fair value of restricted stock granted on January 23, 2015 was $20.01 per share or $252. The weighted-average grant date fair value of restricted stock granted on February 5, 2016 was $19.40 per share or $136. Stock-based compensation expense for restricted stock included in noninterest expense for the three and nine months ended March 31, 2017 was $60 and $183, respectively, and for the three and nine months ended March 31, 2016 was $55 and $184, respectively. Unrecognized compensation expense for non-vested restricted stock awards was $364 at March 31, 2017 and is expected to be recognized over a weighted-average period of 2.5 years.

LOAN SERVICING RIGHTS

LOAN SERVICING RIGHTS	9 Months Ended
	Mar. 31, 2017
LOAN SERVICING RIGHTS
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, 2017 and June 30, 2016 are as follows: March 31, June 30, Mortgage loan portfolio serviced for: FHLMC $ 114,308 $ 125,812 Custodial escrow balances maintained in connection with serviced loans were $681 and $1,007 at March 31, 2017 and June 30, 2016. Activity for loan servicing rights for the three and nine months ended March 31, 2017 and 2016 is as follows: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan servicing rights: Beginning of period: $ 1,219 $ 1,310 $ 1,046 $ 1,396 Additions - - - - Change in fair value (3 ) (142 ) 170 (228 ) End of period: $ 1,216 $ 1,168 $ 1,216 $ 1,168 Fair value at March 31, 2017 was determined using a discount rate of 9.75%, prepayment speed assumptions ranging from 5.0% to 11.8% 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, 2016 was determined using a discount rate of 9.38%, prepayment speed assumptions ranging from 9.0% to 19.7% 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, 2017
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	(10) SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for the nine months ended March 31, 2017 and 2016 is as follows: March 31, March 31, Cash paid during the period for: Interest paid $ 970 $ 884 Income taxes paid $ 1,280 $ 117 Supplemental noncash disclosures: Transfers from loans to real estate owned $ 277 $ 1,613

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2017
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	(11) SUBSEQUENT EVENTS On April 27, 2017, 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 11, 2017, and will be paid on or about May 25, 2017.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Oconee Federal Financial Corp., which include the accounts of its wholly owned subsidiary Oconee Federal Savings and Loan Association (the “Association”) (referred to herein as “the Company,” “we,” “us,” or “our”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Intercompany accounts and transactions are eliminated during consolidation. The Company is majority owned (72.13%) by Oconee Federal, MHC. These financial statements do not include the transactions and balances of Oconee Federal, MHC. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the Company’s financial position as of March 31, 2017 and June 30, 2016 and the results of operations and cash flows for the interim periods ended March 31, 2017 and 2016. 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 or any other period. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2016.
Cash Flows	Cash Flows:
Use of Estimates	Use of Estimates:
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS In March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2017-08 Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities . In January 2017, the FASB issued ASU No. 2017-04 Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment . In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 provides cash flow statement classification guidance for certain transactions including how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years and should be applied retrospectively. Early adoption is permitted, including adoption in an interim period. The Company is assessing ASU 2016-15 but does not expect that it will have a significant impact on its accounting and disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments. The provisions of ASU 2016-13 were issued to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other commitments to extend credit held by a reporting entity at each reporting date. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 eliminate the probable incurred loss recognition in current GAAP and reflect an entity’s current estimate of all expected credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets. For purchased financial assets with a more-than-insignificant amount of credit deterioration since origination (“PCD assets”) that are measured at amortized cost, the initial allowance for credit losses is added to the purchase price rather than being reported as a credit loss expense. Subsequent changes in the allowance for credit losses on PCD assets are recognized through the statement of income as a credit loss expense. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the impact of ASU 2016-13 on its accounting and disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation, which requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also allows an employer to repurchase more of an employee’s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election for forfeitures as they occur. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted. The Company does not believe that this new guidance will have a material effect on the consolidated financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	9 Months Ended
	Mar. 31, 2017
EARNINGS PER SHARE ("EPS")
Schedule of factors used in the earnings per common share computation	Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Earnings per share Net income $ 1,388 $ 1,393 $ 3,976 $ 3,781 Less: distributed earnings allocated to participating securities (4 ) (6 ) (11 ) (17 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities (5 ) (7 ) (15 ) (20 ) Net earnings available to common shareholders $ 1,379 $ 1,380 $ 3,950 $ 3,744 Weighted average common shares outstanding including participating securities 5,786,109 5,877,820 5,797,217 5,881,993 Less: participating securities (37,905 ) (56,902 ) (37,905 ) (56,902 ) Less: average unearned ESOP shares (100,211 ) (131,696 ) (111,304 ) (141,192 ) Weighted average common shares outstanding 5,647,993 5,689,222 5,648,008 5,683,899 Basic earnings per share $ 0.24 $ 0.24 $ 0.70 $ 0.66 Weighted average common shares outstanding 5,647,993 5,689,222 5,648,008 5,683,899 Add: dilutive effects of assumed exercises of stock options 100,972 75,180 93,534 72,928 Average shares and dilutive potential common shares 5,748,965 5,764,402 5,741,542 5,756,827 Diluted earnings per share $ 0.24 $ 0.24 $ 0.69 $ 0.65

SECURITIES AVAILABLE-FOR-SALE (

SECURITIES AVAILABLE-FOR-SALE (Tables)	9 Months Ended
	Mar. 31, 2017
SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY
Schedule of investment securities	Gross Gross Amortized Unrealized Unrealized Fair March 31, 2017 Cost Gains Losses Value Available-for-sale: FHLMC common stock $ 20 $ 182 $ - $ 202 Certificates of deposit 7,723 22 (18 ) 7,727 Municipal securities 36,605 85 (608 ) 36,082 SBA loan pools 597 4 - 601 U.S. Government agency mortgage-backed securities 58,433 186 (561 ) 58,058 U.S. Government agency bonds 13,085 13 (192 ) 12,906 Total available-for-sale $ 116,463 $ 492 $ (1,379 ) $ 115,576 Gross Gross Amortized Unrealized Unrealized Fair June 30, 2016 Cost Gains Losses Value Available-for-sale: FHLMC common stock $ 20 $ 131 $ - $ 151 Certificates of deposit 7,470 64 - 7,534 Corporate debt securities 8,932 186 (2 ) 9,116 Municipal securities 33,508 989 (16 ) 34,481 SBA loan pools 1,268 8 (3 ) 1,273 U.S. Government agency mortgage-backed securities 68,103 1,331 (31 ) 69,403 U.S. Government agency bonds 9,957 169 - 10,126 Total available-for-sale $ 129,258 $ 2,878 $ (52 ) $ 132,084
Schedule of securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position	Less than 12 Months 12 Months or More Total Fair Unrealized Number in Unrealized Loss (1) Fair Unrealized Number in Unrealized Loss (1) Fair Unrealized Number in Loss (1) March 31, 2017 Available-for-sale: Certificates of deposit $ 1,978 $ (18 ) 8 $ - $ - - $ 1,978 $ (18 ) 8 Municipal securities 23,991 (520 ) 57 1,920 (88 ) 4 25,911 (608 ) 61 U.S. Government agency mortgage-backed securities 39,013 (500 ) 41 2,409 (61 ) 4 41,422 (561 ) 45 U.S. Government agency bonds 10,893 (192 ) 10 - - - 10,893 (192 ) 10 $ 75,875 $ (1,230 ) 116 $ 4,329 $ (149 ) 8 $ 80,204 $ (1,379 ) 124 Less than 12 Months 12 Months or More Total Fair Unrealized Number in Unrealized Loss (1) Fair Unrealized Number in Unrealized Loss (1) Fair Unrealized Number in Unrealized Loss (1) June 30, 2016 Available-for-sale: Municipal securities $ 2,574 $ (11 ) 5 $ 716 $ (5 ) 2 $ 3,290 $ (16 ) 7 Corporate debt securities 1,018 (2 ) 2 - - - 1,018 (2 ) 2 SBA loan pools - - - 508 (3 ) 1 508 (3 ) 1 U.S. Government agency mortgage-backed securities 1,057 (1 ) 1 2,982 (30 ) 4 4,039 (31 ) 5 $ 4,649 $ (14 ) 8 $ 4,206 $ (38 ) 7 $ 8,855 $ (52 ) 15 (1) Actual amounts.
Schedule of contractual maturity	March 31, 2017 June 30, 2016 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ 2,739 $ 2,743 $ 3,740 $ 3,751 Due from one to five years 17,041 16,968 16,819 17,086 Due from five to ten years 28,574 28,203 30,778 31,622 Due after ten years 9,059 8,801 8,530 8,798 Mortgage-backed securities (1) 59,030 58,659 69,371 70,676 Total $ 116,443 $ 115,374 $ 129,238 $ 131,933 (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 gains or losses recognized	Three Months Ended Nine Months Ended Available-for-sale: March 31, March 31, March 31, March 31, Proceeds $ 5,200 $ 5,058 $ 20,848 $ 6,213 Gross gains 26 94 201 104 Gross losses (23 ) - (73 ) -

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Mar. 31, 2017
LOANS
Schedule of components of loans	March 31, June 30, Real estate loans: One-to-four family $ 256,213 $ 242,067 Multi-family 1,901 1,996 Home equity 5,264 6,433 Nonresidential 19,573 20,310 Agricultural 1,470 2,958 Construction and land 17,226 14,332 Total real estate loans 301,647 288,096 Commercial and industrial 163 176 Consumer and other loans 5,228 4,915 Total loans 307,038 293,187 Deferred net loan fees (1,076 ) (1,124 ) Total loans net of deferred loan fees $ 305,962 $ 292,063
Schedule of activity in the allowance for loan losses	Three Months Ended March 31, 2017 Beginning Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 795 $ 88 $ (33 ) $ - $ 850 Multi-family 4 - - - 4 Home equity 2 - - - 2 Nonresidential 124 5 - - 129 Agricultural 2 (1 ) - - 1 Construction and land 39 9 - - 48 Total real estate loans 966 101 (33 ) - 1,034 Commercial and industrial 5 - - - 5 Consumer and other loans 25 4 (1 ) - 28 Total loans $ 996 $ 105 $ (34 ) $ - $ 1,067 Nine Months Ended March 31, 2017 Beginning Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 733 $ 150 $ (33 ) $ - $ 850 Multi-family 4 - - - 4 Home equity 2 - - - 2 Nonresidential 130 13 (14 ) - 129 Agricultural 5 (4 ) - - 1 Construction and land 39 9 - - 48 Total real estate loans 913 168 (47 ) - 1,034 Commercial and industrial 6 (1 ) - - 5 Consumer and other loans 3 26 (1 ) - 28 Total loans $ 922 $ 193 $ (48 ) $ - $ 1,067 Three Months Ended March 31, 2016 Beginning Provision Charge-offs Recoveries Ending 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 Beginning Provision Charge-offs Recoveries Ending 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
Schedule of recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment	Ending Allowance on Loans: Loans: Individually Evaluated for Collectively Individually Evaluated for Collectively At March 31, 2017 Non-PCI PCI (1) Non-PCI PCI (1) Real estate loans: One-to-four family $ 21 $ 125 $ 704 $ 980 $ 1,954 $ 252,341 Multi-family - - 4 - - 1,899 Home equity - - 2 - - 5,264 Nonresidential - 68 61 455 469 18,638 Agricultural - - 1 448 - 1,021 Construction and land - 9 39 - 497 16,619 Total real estate loans 21 202 811 1,883 2,920 295,782 Commercial and industrial - - 5 - - 163 Consumer and other loans - - 28 - - 5,214 Total loans $ 21 $ 202 $ 844 $ 1,883 $ 2,920 $ 301,159 (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 Evaluated for Collectively Individually Evaluated for Collectively At June 30, 2016 Non-PCI PCI (1) Non-PCI PCI (1) Real estate loans: One-to-four family $ 55 $ 46 $ 632 $ 1,014 $ 1,904 $ 238,161 Multi-family - - 4 - - 1,994 Home equity - - 2 - - 6,575 Nonresidential - 72 58 - 1,492 18,807 Agricultural - - 5 448 - 2,509 Construction and land - 11 28 - 525 13,558 Total real estate loans 55 129 729 1,462 3,921 281,604 Commercial and industrial - - 6 - - 176 Consumer and other loans - - 3 - - 4,900 Total loans $ 55 $ 129 $ 738 $ 1,462 $ 3,921 $ 286,680 (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.
Schedule of individually evaluated for impairment by portfolio segment	March 31, 2017 Unpaid Recorded Related Average Interest With no recorded allowance: Real estate loans: One-to-four family $ 629 $ 489 $ - $ 741 $ 36 Multi-family - - - - - Home equity - - - - - Nonresidential 603 479 - 795 8 Agricultural 997 448 - 448 34 Construction and land 811 452 - 319 36 Total real estate loans 3,040 1,868 - 2,303 114 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 3,040 $ 1,868 $ - $ 2,303 $ 114 With recorded allowance: Real estate loans: One-to-four family $ 3,027 $ 2,445 $ 146 $ 2,182 $ 168 Multi-family - - - - - Home equity - - - - - Nonresidential 550 445 68 414 30 Agricultural - - - - - Construction and land 185 45 9 196 16 Total real estate loans 3,762 2,935 223 2,792 214 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 3,762 $ 2,935 $ 223 $ 2,792 $ 214 Totals: Real estate loans $ 6,802 $ 4,803 $ 223 $ 5,095 $ 328 Consumer and other loans - - - - - Total $ 6,802 $ 4,803 $ 223 $ 5,095 $ 328 June 30, 2016 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 1,787 $ 1,000 $ - $ 2,198 $ 113 Multi-family - - - - - Home equity 185 - - - - Nonresidential 2,192 1,110 - 1,209 72 Agricultural 997 448 - 945 - Construction and land 359 178 - 392 35 Total real estate loans 5,520 2,736 - 4,744 220 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 5,520 $ 2,736 $ - $ 4,744 $ 220 With recorded allowance: Real estate loans: One-to-four family $ 2,021 $ 1,918 $ 101 $ 1,980 $ 89 Multi-family - - - - - Home equity - - - - - Nonresidential 404 382 72 851 25 Agricultural - - - - - Construction and land 767 347 11 174 61 Total real estate loans 3,192 2,647 184 3,005 175 Commercial and industrial - - - - - Consumer and other loans - - - - - Total $ 3,192 $ 2,647 $ 184 $ 3,005 $ 175 Totals: Real estate loans $ 8,712 $ 5,383 $ 184 $ 7,749 $ 395 Consumer and other loans - - - - - Total $ 8,712 $ 5,383 $ 184 $ 7,749 $ 395
Schedule of loans acquired for as purchased credit impaired loans	March 31, June 30, Real estate loans: One-to-four family $ 1,829 $ 1,858 Multi-family - - Home equity - - Nonresidential 401 1,420 Agricultural - - Construction and land 488 514 Total real estate loans 2,718 3,792 Commercial and industrial - - Consumer and other loans - - Total loans $ 2,718 $ 3,792
Schedule of changes in the carrying value and accretable yield on purchased credit impaired loans	Three Months Ended Three Months Ended Accretable Carrying Accretable Carrying Balance at beginning of period $ 1,257 $ 3,194 $ 518 $ 5,052 Payments and other exit events (429 ) (530 ) 242 (142 ) Accretion (105 ) 105 (123 ) 123 Reclassification from nonaccretable to accretable - - - - Change in the allowance - (51 ) - (73 ) Balance at end of period $ 723 $ 2,718 $ 637 $ 4,960 Nine Months Ended Nine Months Ended Accretable Carrying Accretable Carrying Balance at beginning of year $ 1,340 $ 3,792 $ 694 $ 7,429 Payments and other exit events (354 ) (1,264 ) 296 (2,739 ) Accretion (263 ) 263 (375 ) 375 Reclassification from nonaccretable to accretable - - 22 - Change in the allowance - (73 ) - (105 ) Balance at end of period $ 723 $ 2,718 $ 637 $ 4,960
Schedule of carrying amount of purchased credit impaired loans	March 31, March 31, Balance at beginning of year $ 1,139 $ 2,798 Additions 275 132 Reductions from payments and liquidations (1,088 ) (1,211 ) Balance at end of period $ 326 $ 1,719
Schedule of the aging of the recorded investment in past due loans	Total past due loans and nonaccrual loans at March 31, 2017: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 5,479 $ 1,316 $ 773 $ 7,568 $ 247,707 $ 255,275 $ 2,351 $ - Multi-family - - - - 1,899 1,899 - - Home equity 55 - 40 95 5,169 5,264 89 - Nonresidential 1,101 46 455 1,602 17,960 19,562 502 - Agricultural - - - - 1,469 1,469 520 - Construction and land 36 234 35 305 16,811 17,116 35 - Total real estate loans 6,671 1,596 1,303 9,570 291,015 300,585 3,497 - Commercial and industrial - - - - 163 163 - - Consumer and other loans 3 - - 3 5,211 5,214 - - Total $ 6,674 $ 1,596 $ 1,303 $ 9,573 $ 296,389 $ 305,962 $ 3,497 $ - PCI past due and nonaccrual loans at March 31, 2017: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 150 $ 143 $ 262 $ 555 $ 1,399 $ 1,954 $ 280 $ - Nonresidential 315 47 - 362 107 469 46 - Construction and land - 45 - 45 452 497 - - Total loans $ 465 $ 235 $ 262 $ 962 $ 1,958 $ 2,920 $ 326 $ - Total past due and nonaccrual loans by portfolio segment at June 30, 2016: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 7,086 $ 1,001 $ 863 $ 8,950 $ 232,129 $ 241,079 $ 2,133 $ - Multi-family - - - - 1,994 1,994 - - Home equity 94 22 84 200 6,375 6,575 126 - Nonresidential - 48 942 990 19,309 20,299 942 - Agricultural - - - - 2,957 2,957 531 - Construction and land 93 - 25 118 13,965 14,083 25 - Total real estate loans 7,273 1,071 1,914 10,258 276,729 286,987 3,757 - Commercial and industrial - - - - 176 176 - - Consumer and other loans - - - - 4,900 4,900 - - Total $ 7,273 $ 1,071 $ 1,914 $ 10,258 $ 281,805 $ 292,063 $ 3,757 $ - PCI past due and nonaccrual loans at June 30, 2016: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ - $ 389 $ 21 $ 410 $ 1,494 $ 1,904 $ 172 $ - Nonresidential - 48 942 990 502 1,492 942 - Construction and land - - 25 25 500 525 25 - Total loans $ - $ 437 $ 988 $ 1,425 $ 2,496 $ 3,921 $ 1,139 $ -
Schedule of portfolio segment by risk grade for originated and for acquired loans	Total loans by risk grade and portfolio segment at March 31, 2017: Pass Pass- Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 240,363 $ 6,426 $ 2,614 $ 5,872 $ - $ 255,275 Multi-family 1,899 - - - - 1,899 Home equity 4,614 297 258 95 - 5,264 Nonresidential 13,612 3,659 1,367 924 - 19,562 Agricultural 295 380 274 520 - 1,469 Construction and land 15,279 849 231 757 - 17,116 Total real estate loans 276,062 11,611 4,744 8,168 - 300,585 Commercial and industrial 163 - - - - 163 Consumer and other loans 5,211 - 1 2 - 5,214 Total $ 281,436 $ 11,611 $ 4,745 $ 8,170 $ - $ 305,962 Total loans by risk grade and portfolio segment at June 30, 2016: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 226,899 $ 6,805 $ 1,890 $ 5,485 $ - $ 241,079 Multi-family 1,994 - - - - 1,994 Home equity 6,083 106 260 126 - 6,575 Nonresidential 13,218 4,095 1,494 1,492 - 20,299 Agricultural 1,352 398 676 531 - 2,957 Construction and land 12,397 878 239 569 - 14,083 Total real estate loans 261,943 12,282 4,559 8,203 - 286,987 Commercial and industrial 157 19 - - - 176 Consumer and other loans 4,892 - 3 5 - 4,900 Total $ 266,992 $ 12,301 $ 4,562 $ 8,208 $ - $ 292,063

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2017
FAIR VALUE MEASUREMENTS
Schedule of assets and liabilities measured at fair value on a recurring basis	Fair Value Measurements March 31, 2017 June 30, 2016 (Level 2) (Level 3) (Level 2) (Level 3) Financial assets: Securities available-for-sale: FHLMC common stock $ 202 $ - $ 151 $ - Certificates of deposit 7,727 - 7,534 - Corporate debt securities - - 9,116 - Municipal securities 36,082 - 34,481 - SBA loan pools 601 - 1,273 - U.S. Government agency mortgage-backed securities 58,058 - 69,403 - U.S. Government agency bonds 12,906 - 10,126 - Total securities available-for-sale 115,576 - 132,084 - Loan servicing rights - 1,216 - 1,046 Total financial assets $ 115,576 $ 1,216 $ 132,084 $ 1,046
Schedule of assets measured at fair value on a non-recurring basis	Fair Value Measurements March 31, June 30, (Level 3) (Level 3) Financial assets: Impaired loans, with specific allocations: One-to-four family $ 2,299 $ 1,817 Nonresidential 377 310 Construction and land 36 336 Total financial assets 2,712 2,463 Non-financial assets: Real estate owned, net: One-to-four family 811 899 Nonresidential - 267 Construction and land - 188 Total non-financial assets 811 1,354 Total assets measured at fair value on a non-recurring basis $ 3,523 $ 3,817
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 Nine Months Ended March 31, March 31, March 31, March 31, Loan Servicing Loan Servicing Loan Servicing Loan Servicing Balance at beginning of period: $ 1,219 $ 1,310 $ 1,046 $ 1,396 Purchases - - - - Change in fair value (3 ) (142 ) 170 (228 ) Balance at end of period: $ 1,216 $ 1,168 $ 1,216 $ 1,168
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 Range Fair Value Fair Value Loan servicing rights $ 1,216 $ 1,046 Discounted cash flows Discount rate, estimated timing of cash flows 9% to 10% Impaired real estate loans net, One-to-four family $ 2,299 $ 1,817 Sales comparison approach Adjustment for differences between the comparable sales 0% to 30% Nonresidential 377 310 Discounted cash flows Discount rate, estimated timing of cash flows 2% to 28% Construction and land 36 336 Sales comparison approach Adjustment for differences between the comparable sales 0% to 30% Real estate owned net: One-to-four family $ 811 $ 899 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Nonresidential - 267 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Construction and land - 188 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20%
Schedule of carrying amounts and estimated fair values of the Company's on-balance sheet financial instruments	March 31, 2017 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 115,576 $ - $ 115,576 $ - $ 115,576 Loans, net 304,895 - - 309,950 309,950 Loans held for sale (1) 226 - - 226 226 Loan servicing rights 1,216 - - 1,216 1,216 Restricted equity securities 1,023 N/A N/A N/A N/A Financial liabilities Deposits $ 394,902 $ 188,669 $ 206,366 $ - $ 395,035 June 30, 2016 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 132,084 $ - $ 132,084 $ - $ 132,084 Loans, net 291,141 - - 296,203 296,203 Loans held for sale (1) 129 - - 129 129 Loan servicing rights 1,046 - - 1,046 1,046 Restricted equity securities 1,021 N/A N/A N/A N/A Financial liabilities Deposits $ 399,634 $ 175,652 $ 224,037 $ - $ 399,689 (1) Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis.

EMPLOYEE STOCK OWNERSHIP PLAN24

EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP") (Tables)	9 Months Ended
	Mar. 31, 2017
EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP")
Schedule of Employee Stock Ownership Plan (ESOP)	March 31, June 30, Committed to be released to participants 5,654 10,602 Allocated to participants 139,781 112,043 Unearned 96,411 126,197 Total ESOP shares 241,846 248,842 Fair value of unearned shares $ 2,368 $ 2,470

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2017
STOCK BASED COMPENSATION
Schedule of stock option activity	Options Weighted- Weighted- Aggregate Intrinsic Value (1) Outstanding - June 30, 2016 261,986 $ 12.46 Granted - - Exercised - - Forfeited - - Outstanding - March 31, 2017 261,986 $ 12.46 2.02 $ 3,170,031 Fully vested and exercisable at March 31, 2017 174,854 $ 11.86 2.02 $ 2,221,343 Expected to vest in future periods 87,132 Fully vested and expected to vest - March 31, 2017 261,986 $ 12.46 2.02 $ 3,170,031 (1) The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The current market price was based on the closing price of common stock of $24.56 per share on March 31, 2017.
Schedule of weighted-average fair value of options granted and assumptions used in the Black-Scholes-Merton option pricing model	Fiscal Years 2016 Risk-free interest rate 1.67 % Expected dividend yield 2.06 % Expected stock volatility 16.1 Expected life (years) 8 Fair value $ 2.75
Schedule of non-vested restricted stock activity	March 31, Balance - beginning of year 40,905 Granted - Forfeited - Vested (3,000 ) Balance - end of period 37,905 Weighted average grant date fair value $ 13.09

LOAN SERVICING RIGHTS (Tables)

LOAN SERVICING RIGHTS (Tables)	9 Months Ended
	Mar. 31, 2017
LOAN SERVICING RIGHTS
Schedule of principal balance of loan	The principal balances of those loans at March 31, 2017 and June 30, 2016 are as follows: March 31, June 30, Mortgage loan portfolio serviced for: FHLMC $ 114,308 $ 125,812 Activity for loan servicing rights for the three and nine months ended March 31, 2017 and 2016 is as follows: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan servicing rights: Beginning of period: $ 1,219 $ 1,310 $ 1,046 $ 1,396 Additions - - - - Change in fair value (3 ) (142 ) 170 (228 ) End of period: $ 1,216 $ 1,168 $ 1,216 $ 1,168

SUPPLEMENTAL CASH FLOW INFORM27

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2017
SUPPLEMENTAL CASH FLOW INFORMATION
Schedule of supplemental cash flow information	March 31, March 31, Cash paid during the period for: Interest paid $ 970 $ 884 Income taxes paid $ 1,280 $ 117 Supplemental noncash disclosures: Transfers from loans to real estate owned $ 277 $ 1,613

BASIS OF PRESENTATION (Detail T

BASIS OF PRESENTATION (Detail Textuals)	Mar. 31, 2017
Oconee Federal, MHC
Basis Of Presentation [Line Items]
Percentage of ownership in the entity	72.13%

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Earnings per share
Net income	$ 1,388	$ 1,393	$ 3,976	$ 3,781
Less: distributed earnings allocated to participating securities	(4)	(6)	(11)	(17)
Less: (undistributed income) dividends in excess of earnings allocated to participating securities	(5)	(7)	(15)	(20)
Net earnings available to common shareholders	$ 1,379	$ 1,380	$ 3,950	$ 3,744
Weighted average common shares outstanding including participating securities	5,786,109	5,877,820	5,797,217	5,881,993
Less: participating securities (in shares)	(37,905)	(56,902)	(37,905)	(56,902)
Less: average unearned ESOP shares	(100,211)	(131,696)	(111,304)	(141,192)
Weighted average common shares outstanding	5,647,993	5,689,222	5,648,008	5,683,899
Basic earnings per share (in dollars per share)	$ 0.24	$ 0.24	$ 0.70	$ 0.66
Weighted average common shares outstanding	5,647,993	5,689,222	5,648,008	5,683,899
Add: dilutive effects of assumed exercises of stock options	100,972	75,180	93,534	72,928
Average shares and dilutive potential common shares	5,748,965	5,764,402	5,741,542	5,756,827
Diluted earnings per share (in dollars per share)	$ 0.24	$ 0.24	$ 0.69	$ 0.65

EARNINGS PER SHARE ("EPS") (D30

EARNINGS PER SHARE ("EPS") (Detail Textuals) - shares	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2016
EARNINGS PER SHARE ("EPS")
Antidilutive shares	28,700	28,700

SECURITIES AVAILABLE-FOR-SALE31

SECURITIES AVAILABLE-FOR-SALE (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Available-for-sale:
Amortized Cost	$ 116,463	$ 129,258
Gross Unrealized Gains	492	2,878
Gross Unrealized Losses	(1,379)	(52)
Available-for-sale Securities	115,576	132,084
FHLMC common stock
Available-for-sale:
Amortized Cost	20	20
Gross Unrealized Gains	182	131
Gross Unrealized Losses
Available-for-sale Securities	202	151
Certificates of deposit
Available-for-sale:
Amortized Cost	7,723	7,470
Gross Unrealized Gains	22	64
Gross Unrealized Losses	(18)
Available-for-sale Securities	7,727	7,534
Corporate debt securities
Available-for-sale:
Amortized Cost		8,932
Gross Unrealized Gains		186
Gross Unrealized Losses		(2)
Available-for-sale Securities		9,116
Municipal securities
Available-for-sale:
Amortized Cost	36,605	33,508
Gross Unrealized Gains	85	989
Gross Unrealized Losses	(608)	(16)
Available-for-sale Securities	36,082	34,481
SBA loan pools
Available-for-sale:
Amortized Cost	597	1,268
Gross Unrealized Gains	4	8
Gross Unrealized Losses		(3)
Available-for-sale Securities	601	1,273
U.S. Government agency mortgage-backed securities
Available-for-sale:
Amortized Cost	58,433	68,103
Gross Unrealized Gains	186	1,331
Gross Unrealized Losses	(561)	(31)
Available-for-sale Securities	58,058	69,403
U.S. Government agency bonds
Available-for-sale:
Amortized Cost	13,085	9,957
Gross Unrealized Gains	13	169
Gross Unrealized Losses	(192)
Available-for-sale Securities	$ 12,906	$ 10,126

SECURITIES AVAILABLE-FOR-SALE32

SECURITIES AVAILABLE-FOR-SALE (Details 1) $ in Thousands		Mar. 31, 2017USD ($)Security	Jun. 30, 2016USD ($)Security
Securities with unrealized losses
Less than 12 Months, Fair Value		$ 75,875	$ 4,649
Less than 12 Months, Unrealized Loss		$ (1,230)	$ (14)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	116	8
12 Months or More, Fair Value		$ 4,329	$ 4,206
12 Months or More, Unrealized Loss		$ (149)	$ (38)
12 Months or More, Number in Unrealized Loss | Security	[1]	8	7
Total, Fair Value		$ 80,204	$ 8,855
Total, Unrealized Loss		$ (1,379)	$ (52)
Total, Number in Unrealized Loss | Security	[1]	124	15
Certificates of deposit
Securities with unrealized losses
Less than 12 Months, Fair Value		$ 1,978
Less than 12 Months, Unrealized Loss		$ (18)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	8
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		$ 1,978
Total, Unrealized Loss		$ (18)
Total, Number in Unrealized Loss | Security	[1]	8
Municipal securities
Securities with unrealized losses
Less than 12 Months, Fair Value		$ 23,991	$ 2,574
Less than 12 Months, Unrealized Loss		$ (520)	$ (11)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	57	5
12 Months or More, Fair Value		$ 1,920	$ 716
12 Months or More, Unrealized Loss		$ (88)	$ (5)
12 Months or More, Number in Unrealized Loss | Security	[1]	4	2
Total, Fair Value		$ 25,911	$ 3,290
Total, Unrealized Loss		$ (608)	$ (16)
Total, Number in Unrealized Loss | Security	[1]	61	7
Corporate debt securities
Securities with unrealized losses
Less than 12 Months, Fair Value			$ 1,018
Less than 12 Months, Unrealized Loss			$ (2)
Less than 12 Months, Number in Unrealized Loss | Security	[1]		2
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			$ 1,018
Total, Unrealized Loss			$ (2)
Total, Number in Unrealized Loss | Security	[1]		2
SBA loan pools
Securities with unrealized losses
Less than 12 Months, Fair Value
Less than 12 Months, Unrealized Loss
Less than 12 Months, Number in Unrealized Loss | Security	[1]
12 Months or More, Fair Value			$ 508
12 Months or More, Unrealized Loss			$ (3)
12 Months or More, Number in Unrealized Loss | Security	[1]		1
Total, Fair Value			$ 508
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		$ 39,013	$ 1,057
Less than 12 Months, Unrealized Loss		$ (500)	$ (1)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	41	1
12 Months or More, Fair Value		$ 2,409	$ 2,982
12 Months or More, Unrealized Loss		$ (61)	$ (30)
12 Months or More, Number in Unrealized Loss | Security	[1]	4	4
Total, Fair Value		$ 41,422	$ 4,039
Total, Unrealized Loss		$ (561)	$ (31)
Total, Number in Unrealized Loss | Security	[1]	45	5
U.S. Government agency bonds
Securities with unrealized losses
Less than 12 Months, Fair Value		$ 10,893
Less than 12 Months, Unrealized Loss		$ (192)
Less than 12 Months, Number in Unrealized Loss | Security	[1]	10
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		$ 10,893
Total, Unrealized Loss		$ (192)
Total, Number in Unrealized Loss | Security	[1]	10
[1]	Actual amounts.

SECURITIES AVAILABLE-FOR-SALE33

SECURITIES AVAILABLE-FOR-SALE (Details 2) - USD ($) $ in Thousands		Mar. 31, 2017	Jun. 30, 2016
Amortized Cost
Less than one year		$ 2,739	$ 3,740
Due from one to five years		17,041	16,819
Due from five to ten years		28,574	30,778
Due after ten years		9,059	8,530
Mortgage-backed securities	[1]	59,030	69,371
Total		116,443	129,238
Fair Value
Less than one year		2,743	3,751
Due from one to five years		16,968	17,086
Due from five to ten years		28,203	31,622
Due after ten years		8,801	8,798
Mortgage-backed securities	[1]	58,659	70,676
Total		$ 115,374	$ 131,933
[1]	Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty.

SECURITIES AVAILABLE-FOR-SALE34

SECURITIES AVAILABLE-FOR-SALE (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Available-for-sale:
Proceeds	$ 5,200	$ 5,058	$ 20,848	$ 6,213
Gross gains	26	94	201	104
Gross losses	$ (23)		$ (73)

SECURITIES AVAILABLE-FOR-SALE35

SECURITIES AVAILABLE-FOR-SALE (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
SECURITIES AVAILABLE-FOR-SALE AND HELD-TO-MATURITY
Securities pledged to secure public deposits	$ 6,032		$ 6,032		$ 6,114
Percentage holdings of securities greater than shareholders' equity	10.00%		10.00%		10.00%
Tax provision related to net realized gains	$ 22	$ 34	$ 46	$ 37

LOANS (Details)

LOANS (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Loans
Total loans	$ 307,038	$ 293,187
Deferred net loan fees	(1,076)	(1,124)
Total loans net of deferred loan fees	305,962	292,063
Real estate loans
Loans
Total loans	301,647	288,096
Real estate loans | One-to-four family
Loans
Total loans	256,213	242,067
Real estate loans | Multi-family
Loans
Total loans	1,901	1,996
Real estate loans | Home equity
Loans
Total loans	5,264	6,433
Real estate loans | Nonresidential
Loans
Total loans	19,573	20,310
Real estate loans | Agricultural
Loans
Total loans	1,470	2,958
Real estate loans | Construction and land
Loans
Total loans	17,226	14,332
Commercial and industrial
Loans
Total loans	163	176
Consumer and other loans
Loans
Total loans	$ 5,228	$ 4,915

LOANS (Details 1)

LOANS (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Change in allowance for loan losses during the period
Beginning Balance	$ 996	$ 1,148	$ 922	$ 1,008
Provision	105	11	193	433
Charge-offs	(34)	(2)	(48)	(284)
Recoveries
Ending Balance	1,067	1,157	1,067	1,157
Real estate loans
Change in allowance for loan losses during the period
Beginning Balance	966	1,123	913	999
Provision	101	20	168	424
Charge-offs	(33)		(47)	(280)
Recoveries
Ending Balance	1,034	1,143	1,034	1,143
Real estate loans | One-to-four family
Change in allowance for loan losses during the period
Beginning Balance	795	961	733	910
Provision	88	17	150	276
Charge-offs	(33)		(33)	(208)
Recoveries
Ending Balance	850	978	850	978
Real estate loans | Multi-family
Change in allowance for loan losses during the period
Beginning Balance	4	4	4	4
Provision
Charge-offs
Recoveries
Ending Balance	4	4	4	4
Real estate loans | Home equity
Change in allowance for loan losses during the period
Beginning Balance	2	1	2	1
Provision		1		73
Charge-offs				(72)
Recoveries
Ending Balance	2	2	2	2
Real estate loans | Nonresidential
Change in allowance for loan losses during the period
Beginning Balance	124	67	130	55
Provision	5	6	13	18
Charge-offs			(14)
Recoveries
Ending Balance	129	73	129	73
Real estate loans | Agricultural
Change in allowance for loan losses during the period
Beginning Balance	2	4	5	4
Provision	(1)	39	(4)	39
Charge-offs
Recoveries
Ending Balance	1	43	1	43
Real estate loans | Construction and land
Change in allowance for loan losses during the period
Beginning Balance	39	86	39	25
Provision	9	(43)	9	18
Charge-offs
Recoveries
Ending Balance	48	43	48	43
Commercial and industrial
Change in allowance for loan losses during the period
Beginning Balance	5	8	6
Provision		(1)	(1)	7
Charge-offs
Recoveries
Ending Balance	5	7	5	7
Consumer and other loans
Change in allowance for loan losses during the period
Beginning Balance	25	17	3	9
Provision	4	(8)	26	2
Charge-offs	(1)	(2)	(1)	(4)
Recoveries
Ending Balance	$ 28	$ 7	$ 28	$ 7

LOANS (Details 2)

LOANS (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017		Jun. 30, 2016
Ending Allowance on Loans:
Collectively Evaluated for Impairment	$ 844		$ 738
Loans:
Collectively Evaluated for Impairment	301,159		286,680
Real estate loans
Ending Allowance on Loans:
Collectively Evaluated for Impairment	811		729
Loans:
Collectively Evaluated for Impairment	295,782		281,604
Real estate loans | One-to-four family
Ending Allowance on Loans:
Collectively Evaluated for Impairment	704		632
Loans:
Collectively Evaluated for Impairment	252,341		238,161
Real estate loans | Multi-family
Ending Allowance on Loans:
Collectively Evaluated for Impairment	4		4
Loans:
Collectively Evaluated for Impairment	1,899		1,994
Real estate loans | Home equity
Ending Allowance on Loans:
Collectively Evaluated for Impairment	2		2
Loans:
Collectively Evaluated for Impairment	5,264		6,575
Real estate loans | Nonresidential
Ending Allowance on Loans:
Collectively Evaluated for Impairment	61		58
Loans:
Collectively Evaluated for Impairment	18,638		18,807
Real estate loans | Agricultural
Ending Allowance on Loans:
Collectively Evaluated for Impairment	1		5
Loans:
Collectively Evaluated for Impairment	1,021		2,509
Real estate loans | Construction and land
Ending Allowance on Loans:
Collectively Evaluated for Impairment	39		28
Loans:
Collectively Evaluated for Impairment	16,619		13,558
Commercial and industrial
Ending Allowance on Loans:
Collectively Evaluated for Impairment	5		6
Loans:
Collectively Evaluated for Impairment	163		176
Consumer and other loans
Ending Allowance on Loans:
Collectively Evaluated for Impairment	28		3
Loans:
Collectively Evaluated for Impairment	5,214		4,900
Non-PCI
Ending Allowance on Loans:
Individually Evaluated for Impairment	21		55
Loans:
Individually Evaluated for Impairment	1,883		1,462
Non-PCI | Real estate loans
Ending Allowance on Loans:
Individually Evaluated for Impairment	21		55
Loans:
Individually Evaluated for Impairment	1,883		1,462
Non-PCI | Real estate loans | One-to-four family
Ending Allowance on Loans:
Individually Evaluated for Impairment	21		55
Loans:
Individually Evaluated for Impairment	980		1,014
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
Non-PCI | Real estate loans | Nonresidential
Ending Allowance on Loans:
Individually Evaluated for Impairment
Loans:
Individually Evaluated for Impairment	455
Non-PCI | Real estate loans | Agricultural
Ending Allowance on Loans:
Individually Evaluated for Impairment
Loans:
Individually Evaluated for Impairment	448		448
Non-PCI | Real estate loans | Construction and land
Ending Allowance on Loans:
Individually Evaluated for Impairment
Loans:
Individually Evaluated for Impairment
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
Loans:
Individually Evaluated for Impairment
PCI
Ending Allowance on Loans:
Individually Evaluated for Impairment	202	[1]	129	[2]
Loans:
Individually Evaluated for Impairment	2,920	[1]	3,921	[2]
PCI | Real estate loans
Ending Allowance on Loans:
Individually Evaluated for Impairment	202	[1]	129	[2]
Loans:
Individually Evaluated for Impairment	2,920	[1]	3,921	[2]
PCI | Real estate loans | One-to-four family
Ending Allowance on Loans:
Individually Evaluated for Impairment	125	[1]	46	[2]
Loans:
Individually Evaluated for Impairment	1,954	[1]	1,904	[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	68	[1]	72	[2]
Loans:
Individually Evaluated for Impairment	469	[1]	1,492	[2]
PCI | Real estate loans | Agricultural
Ending Allowance on Loans:
Individually Evaluated for Impairment		[1]		[2]
Loans:
Individually Evaluated for Impairment		[1]		[2]
PCI | Real estate loans | Construction and land
Ending Allowance on Loans:
Individually Evaluated for Impairment	9	[1]	11	[2]
Loans:
Individually Evaluated for Impairment	497	[1]	525	[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, 2017	Jun. 30, 2016
With no recorded allowance:
Unpaid Principal Balance	$ 3,040	$ 5,520
Recorded Investment	1,868	2,736
Average Recorded Investment	2,303	4,744
Interest Income Recognized	114	220
With recorded allowance:
Unpaid Principal Balance	3,762	3,192
Recorded Investment	2,935	2,647
Related Allowance	223	184
Average Recorded Investment	2,792	3,005
Interest Income Recognized	214	175
Total:
Unpaid Principal Balance	6,802	8,712
Recorded Investment	4,803	5,383
Related Allowance	223	184
Average Recorded Investment	5,095	7,749
Interest Income Recognized	328	395
Real estate loans
With no recorded allowance:
Unpaid Principal Balance	3,040	5,520
Recorded Investment	1,868	2,736
Average Recorded Investment	2,303	4,744
Interest Income Recognized	114	220
With recorded allowance:
Unpaid Principal Balance	3,762	3,192
Recorded Investment	2,935	2,647
Related Allowance	223	184
Average Recorded Investment	2,792	3,005
Interest Income Recognized	214	175
Total:
Unpaid Principal Balance	6,802	8,712
Recorded Investment	4,803	5,383
Related Allowance	223	184
Average Recorded Investment	5,095	7,749
Interest Income Recognized	328	395
Real estate loans | One-to-four family
With no recorded allowance:
Unpaid Principal Balance	629	1,787
Recorded Investment	489	1,000
Average Recorded Investment	741	2,198
Interest Income Recognized	36	113
With recorded allowance:
Unpaid Principal Balance	3,027	2,021
Recorded Investment	2,445	1,918
Related Allowance	146	101
Average Recorded Investment	2,182	1,980
Interest Income Recognized	168	89
Total:
Related Allowance	146	101
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
Real estate loans | Home equity
With no recorded allowance:
Unpaid Principal Balance		185
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
Real estate loans | Nonresidential
With no recorded allowance:
Unpaid Principal Balance	603	2,192
Recorded Investment	479	1,111
Average Recorded Investment	795	1,209
Interest Income Recognized	8	72
With recorded allowance:
Unpaid Principal Balance	550	404
Recorded Investment	445	382
Related Allowance	68	72
Average Recorded Investment	414	851
Interest Income Recognized	30	25
Total:
Related Allowance	68	72
Real estate loans | Agricultural
With no recorded allowance:
Unpaid Principal Balance	997	997
Recorded Investment	448	448
Average Recorded Investment	448	945
Interest Income Recognized	34
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Related Allowance
Real estate loans | Construction and land
With no recorded allowance:
Unpaid Principal Balance	811	359
Recorded Investment	452	178
Average Recorded Investment	319	392
Interest Income Recognized	36	35
With recorded allowance:
Unpaid Principal Balance	185	767
Recorded Investment	45	347
Related Allowance	9	11
Average Recorded Investment	196	174
Interest Income Recognized	16	61
Total:
Related Allowance	9	11
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
Consumer and other loans
With no recorded allowance:
Unpaid Principal Balance
Recorded Investment
Average Recorded Investment
Interest Income Recognized
With recorded allowance:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized
Total:
Unpaid Principal Balance
Recorded Investment
Related Allowance
Average Recorded Investment
Interest Income Recognized

LOANS (Details 4)

LOANS (Details 4) - Acquired Loans - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	$ 2,718	$ 3,792
Real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	2,718	3,792
Real estate loans | One-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	1,829	1,858
Real estate loans | Multi-family
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount
Real estate loans | Home equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount
Real estate loans | Nonresidential
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	401	1,420
Real estate loans | Agricultural
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount
Real estate loans | Construction and land
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount	488	514
Commercial and industrial
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount
Consumer and other loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Acquired purchased credit impaired loans, net of related discount

LOANS (Details 5)

LOANS (Details 5) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Accretable Yield
Balance at beginning of period	$ 1,257	$ 518	$ 1,340	$ 694
Payments and other exit events	(429)	242	(354)	296
Accretion	(105)	(123)	(263)	(375)
Reclassification from nonaccretable to accretable				22
Change in the allowance
Balance at end of period	723	637	723	637
Carrying Value
Balance at beginning of period	3,194	5,052	3,792	7,429
Payments and other exit events	(530)	(142)	(1,264)	(2,739)
Accretion	105	123	263	375
Reclassification from nonaccretable to accretable
Change in the allowance	(51)	(73)	(73)	(105)
Balance at end of period	$ 2,718	$ 4,960	$ 2,718	$ 4,960

LOANS (Details 6)

LOANS (Details 6) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Certain Loans Acquired In Transfer Accounted For As Debt Securities Future Cash Flow Not Estimable [Roll Forward]
Balance at beginning of year	$ 1,139	$ 2,798
Additions	275	132
Reductions from payments and liquidations	(1,088)	(1,211)
Balance at end of period	$ 326	$ 1,719

LOANS (Details 7)

LOANS (Details 7) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	$ 9,573	$ 10,258
Current	296,389	281,805
Total loans	305,962	292,063
Nonaccrual loans	3,497	3,757
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	6,674	7,273
60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	1,596	1,071
90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	1,303	1,914
Real estate loans
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	9,570	10,258
Current	291,015	276,729
Total loans	300,585	286,987
Nonaccrual loans	3,497	3,757
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	6,671	7,273
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	1,596	1,071
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	1,303	1,914
Real estate loans | One-to-four family
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	7,568	8,950
Current	247,707	232,129
Total loans	255,275	241,079
Nonaccrual loans	2,351	2,133
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	5,479	7,086
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	1,316	1,001
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	773	863
Real estate loans | Multi-family
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Current	1,899	1,994
Total loans	1,899	1,994
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	95	200
Current	5,169	6,375
Total loans	5,264	6,575
Nonaccrual loans	89	126
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	55	94
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		22
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	40	84
Real estate loans | Nonresidential
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	1,602	990
Current	17,960	19,309
Total loans	19,562	20,299
Nonaccrual loans	502	942
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	1,101
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	46	48
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	455	942
Real estate loans | Agricultural
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Current	1,469	2,957
Total loans	1,469	2,957
Nonaccrual loans	520	531
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
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	305	118
Current	16,811	13,965
Total loans	17,116	14,083
Nonaccrual loans	35	25
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	36	93
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	234
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	35	25
Commercial and industrial
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due
Current	163	176
Total loans	163	176
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	3
Current	5,211	4,900
Total loans	5,214	4,900
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	3
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
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
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	962	1,425
Current	1,958	2,496
Total loans	2,920	3,921
Nonaccrual loans	326	1,139
Accruing loans past due 90 days or more
Acquired Loans | 30 - 59 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	465
Acquired Loans | 60 - 89 Days Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	235	437
Acquired Loans | 90 Days or More Past Due
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	262	988
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	555	410
Current	1,399	1,494
Total loans	1,954	1,904
Nonaccrual loans	280	172
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	150
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	143	389
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	262	21
Acquired Loans | Real estate loans | Nonresidential
Aging of the recorded investment in past due loans by portfolio class of loans
Total Past Due	362	990
Current	107	502
Total loans	469	1,492
Nonaccrual loans	46	942
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	315
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	47	48
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		942
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	45	25
Current	452	500
Total loans	497	525
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	45
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) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Loan grade for each loan by portfolio segment and class
Loans, gross amount	$ 305,962	$ 292,063
Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	300,585	286,987
Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	255,275	241,079
Real estate loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,899	1,994
Real estate loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	5,264	6,575
Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	19,562	20,299
Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,469	2,957
Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	17,116	14,083
Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	163	176
Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	5,214	4,900
Pass
Loan grade for each loan by portfolio segment and class
Loans, gross amount	281,436	266,992
Pass | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	276,062	261,943
Pass | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	240,363	226,899
Pass | Real estate loans | Multi-family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,899	1,994
Pass | Real estate loans | Home equity
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,614	6,083
Pass | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	13,612	13,218
Pass | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	295	1,352
Pass | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	15,279	12,397
Pass | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount	163	157
Pass | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	5,211	4,892
Pass- Watch
Loan grade for each loan by portfolio segment and class
Loans, gross amount	11,611	12,301
Pass- Watch | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	11,611	12,282
Pass- Watch | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	6,426	6,805
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	297	106
Pass- Watch | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	3,659	4,095
Pass- Watch | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	380	398
Pass- Watch | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	849	878
Pass- Watch | Commercial and industrial
Loan grade for each loan by portfolio segment and class
Loans, gross amount		19
Pass- Watch | Consumer and other loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Special Mention
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,745	4,562
Special Mention | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	4,744	4,559
Special Mention | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	2,614	1,890
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	258	260
Special Mention | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	1,367	1,494
Special Mention | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	274	676
Special Mention | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	231	239
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	1	3
Substandard
Loan grade for each loan by portfolio segment and class
Loans, gross amount	8,170	8,208
Substandard | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount	8,168	8,203
Substandard | Real estate loans | One-to-four family
Loan grade for each loan by portfolio segment and class
Loans, gross amount	5,872	5,485
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	95	126
Substandard | Real estate loans | Nonresidential
Loan grade for each loan by portfolio segment and class
Loans, gross amount	924	1,492
Substandard | Real estate loans | Agricultural
Loan grade for each loan by portfolio segment and class
Loans, gross amount	520	531
Substandard | Real estate loans | Construction and land
Loan grade for each loan by portfolio segment and class
Loans, gross amount	757	569
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	2	5
Doubtful
Loan grade for each loan by portfolio segment and class
Loans, gross amount
Doubtful | Real estate loans
Loan grade for each loan by portfolio segment and class
Loans, gross amount
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
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	9 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)Loan	Jun. 30, 2016USD ($)Loan
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unpaid principle balance	$ 6,802	$ 8,712
Recorded investment	4,803	5,383
Allowance for loan losses	202	129
Recorded investment in troubled debt restructuring	1,577	1,588
Additional allowance for modified loans	21	55
Real estate loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unpaid principle balance	6,802	8,712
Recorded investment	$ 4,803	$ 5,383
Real estate loans | One-to-four family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans | Loan	1	1
Real estate loans | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans | Loan		2
Real estate loans | Agricultural
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of trouble debt restructuring loans | Loan		2
Consumer and other loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unpaid principle balance
Recorded investment
Acquired Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unpaid principle balance	4,401	6,546
Recorded investment	$ 2,920	$ 3,921
Acquired Loans | 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 | 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%
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]
Loans made as a percentage of lesser of appraised value or purchase price	75.00%
Amortization period of financing receivable	30 years
Loans receivable | Real estate loans | Multi-family | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of multi family real estate loans	5 years
Loans receivable | Real estate loans | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loan to value ratio	80.00%
Maximum term of adjustable rate and fixed rate options	10 years
Loans receivable | Real estate loans | 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 | Real estate loans | Nonresidential | Minimum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of non residential real estate loans	5 years
Loans receivable | Real estate loans | Nonresidential | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortization period of financing receivable	20 years
Term of non residential real estate loans	20 years
Loan to value ratio	75.00%
Loans receivable | Real estate loans | Agricultural | Minimum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Term of agricultural loans	5 years
Loans receivable | Real estate loans | 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 | Real estate loans | Construction and land | Maximum
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loan-to-value ratio for owner-occupied loans (as a percent)	80.00%
Loan to value ratio	85.00%
Loans receivable | Consumer and other loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Consumer mortgage loans secured by residential real estate properties in formal foreclosure proceedings	$ 224
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 unsecured loans	18 months
Term of financing receivable for secured by vehicle	60 months

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Financial assets:
Securities available-for-sale	$ 115,576	$ 132,084
Level 2
Financial assets:
Securities available-for-sale	115,576	132,084
Loan servicing rights
Level 3
Financial assets:
Securities available-for-sale
Loan servicing rights	1,216	1,046
FHLMC common stock
Financial assets:
Securities available-for-sale	202	151
Certificates of deposit
Financial assets:
Securities available-for-sale	7,727	7,534
Corporate debt securities
Financial assets:
Securities available-for-sale		9,116
Municipal securities
Financial assets:
Securities available-for-sale	36,082	34,481
SBA loan pools
Financial assets:
Securities available-for-sale	601	1,273
U.S. Government agency mortgage-backed securities
Financial assets:
Securities available-for-sale	58,058	69,403
U.S. Government agency bonds
Financial assets:
Securities available-for-sale	12,906	10,126
Recurring basis | Level 2
Financial assets:
Securities available-for-sale	115,576	132,084
Loan servicing rights
Total financial assets	115,576	132,084
Recurring basis | Level 3
Financial assets:
Securities available-for-sale
Loan servicing rights	1,216	1,046
Total financial assets	1,216	1,046
Recurring basis | FHLMC common stock | Level 2
Financial assets:
Securities available-for-sale	202	151
Recurring basis | FHLMC common stock | Level 3
Financial assets:
Securities available-for-sale
Recurring basis | Certificates of deposit | Level 2
Financial assets:
Securities available-for-sale	7,727	7,534
Recurring basis | Certificates of deposit | Level 3
Financial assets:
Securities available-for-sale
Recurring basis | Corporate debt securities | Level 2
Financial assets:
Securities available-for-sale		9,116
Recurring basis | Corporate debt securities | Level 3
Financial assets:
Securities available-for-sale
Recurring basis | Municipal securities | Level 2
Financial assets:
Securities available-for-sale	36,082	34,481
Recurring basis | Municipal securities | Level 3
Financial assets:
Securities available-for-sale
Recurring basis | SBA loan pools | Level 2
Financial assets:
Securities available-for-sale	601	1,273
Recurring basis | SBA loan pools | Level 3
Financial assets:
Securities available-for-sale
Recurring basis | U.S. Government agency mortgage-backed securities | Level 2
Financial assets:
Securities available-for-sale	58,058	69,403
Recurring basis | U.S. Government agency mortgage-backed securities | Level 3
Financial assets:
Securities available-for-sale
Recurring basis | U.S. Government agency bonds | Level 2
Financial assets:
Securities available-for-sale	12,906	10,126
Recurring basis | U.S. Government agency bonds | Level 3
Financial assets:
Securities available-for-sale

FAIR VALUE MEASUREMENTS (Deta47

FAIR VALUE MEASUREMENTS (Details 1) - Non-recurring basis - Level 3 - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Impaired real estate loans, with specific allocations:
Total financial assets	$ 2,712	$ 2,463
Real estate owned, net:
Total non-financial assets	811	1,354
Total assets measured at fair value on a non-recurring basis	3,523	3,817
Impaired loans | One-to-four family
Impaired real estate loans, with specific allocations:
Total financial assets	2,299	1,817
Real estate owned, net:
Total non-financial assets	811	899
Impaired loans | Nonresidential
Impaired real estate loans, with specific allocations:
Total financial assets	377	310
Real estate owned, net:
Total non-financial assets		267
Impaired loans | Construction and land
Impaired real estate loans, with specific allocations:
Total financial assets	36	336
Real estate owned, net:
Total non-financial assets		$ 188

FAIR VALUE MEASUREMENTS (Deta48

FAIR VALUE MEASUREMENTS (Details 2) - Recurring basis - Level 3 - Loan Servicing Rights - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period:	$ 1,219	$ 1,310	$ 1,046	$ 1,396
Purchases
Change in fair value	(3)	(142)	170	(228)
Balance at end of period:	$ 1,216	$ 1,168	$ 1,216	$ 1,168

FAIR VALUE MEASUREMENTS (Deta49

FAIR VALUE MEASUREMENTS (Details 3) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Valuation techniques
Real estate owned	$ 811	$ 1,354
Level 3
Valuation techniques
Loan servicing rights	1,216	1,046
Impaired real estate loans net, with specific allocations	309,950	296,203
Non-recurring basis | Level 3 | Discounted cash flows
Valuation techniques
Loan servicing rights	$ 1,216	1,046
Non-recurring basis | Level 3 | Discounted cash flows | Minimum
Valuation techniques
Discount rate, estimated timing of cash flows	9.00%
Non-recurring basis | Level 3 | Discounted cash flows | Maximum
Valuation techniques
Discount rate, estimated timing of cash flows	10.00%
Non-recurring basis | Level 3 | One-to-four family | Sales comparison approach
Valuation techniques
Real estate owned	$ 811	899
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		267
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		188
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	$ 2,299	1,817
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	$ 377	310
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 | Construction and land | Sales comparison approach
Valuation techniques
Impaired real estate loans net, with specific allocations	$ 36	$ 336
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%

FAIR VALUE MEASUREMENTS (Deta50

FAIR VALUE MEASUREMENTS (Details 4) - USD ($) $ in Thousands		Mar. 31, 2017	Jun. 30, 2016
Financial assets
Securities available-for-sale		$ 115,576	$ 132,084
Carrying Amount
Financial assets
Securities available-for-sale		115,576	132,084
Loans, net		304,895	291,141
Loans held for sale	[1]	226	129
Loan servicing rights		1,216	1,046
Restricted equity securities		1,023	1,021
Financial liabilities
Deposits		394,902	399,634
Fair Value
Financial assets
Securities available-for-sale		115,576	132,084
Loans, net		309,950	296,203
Loans held for sale	[1]	226	129
Loan servicing rights		1,216	1,046
Financial liabilities
Deposits		395,035	399,689
Level 1
Financial assets
Securities available-for-sale
Loans, net
Loans held for sale	[1]
Loan servicing rights
Financial liabilities
Deposits		188,669	175,652
Level 2
Financial assets
Securities available-for-sale		115,576	132,084
Loans, net
Loans held for sale	[1]
Loan servicing rights
Financial liabilities
Deposits		206,366	224,037
Level 3
Financial assets
Securities available-for-sale
Loans, net		309,950	296,203
Loans held for sale	[1]	226	129
Loan servicing rights		1,216	1,046
Financial liabilities
Deposits
[1]	Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis.

FAIR VALUE MEASUREMENTS (Deta51

FAIR VALUE MEASUREMENTS (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
FAIR VALUE MEASUREMENTS
Carrying amount of impaired loans	$ 2,712		$ 2,712		$ 2,463
Valuation allowances of impaired loans	223		223		184
Increase in the valuation allowance	38	$ 10	39	$ 302
Carrying value of real estate owned	811		811		1,354
Real estate owned, valuation allowance	103		103		$ 102
Write-downs for real estate owned	$ 0	$ 0	$ 103	$ 110

EMPLOYEE STOCK OWNERSHIP PLAN52

EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP") (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Shares held by the ESOP
Committed to be released to participants	5,654	10,602
Allocated to participants	139,781	112,043
Unearned	96,411	126,197
Total ESOP shares	241,846	248,842
Fair value of unearned shares	$ 2,368	$ 2,470

EMPLOYEE STOCK OWNERSHIP PLAN53

EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP") (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2011
EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP")
Employee stock ownership plan, employer loan for shares							248,842
Common stock share price							$ 10
Additional discretionary contribution to ESOP	$ 50	$ 100	$ 0		$ 88
Additional compensation expense recognized for ESOP				$ 0		$ 160
ESOP compensation expense recognized			$ 107	$ 77	$ 380	$ 417

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details) - Stock options $ / shares in Units, $ in Thousands	9 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Options
Outstanding - July 1, 2016 (in shares)	261,986
Granted (in shares)
Exercised (in shares)
Forfeited (in shares)
Outstanding - March 31, 2017 (in shares)	261,986
Fully vested and exercisable at March 31, 2017 (in shares)	174,854
Expected to vest in future periods (in shares)	87,132
Fully vested and expected to vest - March 31, 2017 (in shares)	261,986
Weighted-Average Exercise Price/Share
Outstanding - July 1, 2016 (in dollars per share) | $ / shares	$ 12.46
Granted (in dollars per share) | $ / shares
Exercised (in dollars per share) | $ / shares
Forfeited (in dollars per share) | $ / shares
Outstanding - March 31, 2017 (in dollars per share) | $ / shares	12.46
Fully vested and exercisable at March 31, 2017 (in dollars per share) | $ / shares	11.86
Fully vested and expected to vest - March 31, 2017 (in dollars per share) | $ / shares	$ 12.46
Weighted Average Remaining Contractual Life (in years)
Outstanding - March 31, 2017	2 years 7 days
Fully vested and exercisable at March 31, 2017	2 years 7 days
Fully vested and expected to vest - March 31, 2017	2 years 7 days
Aggregate Intrinsic Value
Outstanding - March 31, 2017 | $	$ 3,170,031	[1]
Fully vested and exercisable at March 31, 2017 | $	2,221,343	[1]
Fully vested and expected to vest - March 31, 2017 | $	$ 3,170,031	[1]
[1]	The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The current market price was based on the closing price of common stock of $24.56 per share on March 31, 2017.

STOCK BASED COMPENSATION (Det55

STOCK BASED COMPENSATION (Details 1) - Stock options - Weighted average	9 Months Ended
	Mar. 31, 2017$ / shares
Weighted average assumptions
Risk-free interest rate (as a percent)	1.67%
Expected dividend yield (as a percent)	2.06%
Expected stock volatility (as a percent)	16.10%
Expected life (years)	8 years
Fair value (in dollars per share)	$ 2.75

STOCK BASED COMPENSATION (Det56

STOCK BASED COMPENSATION (Details 2) - $ / shares	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Non-vested stock activity
Granted (in shares)		7,000
Restricted stock
Non-vested stock activity
Balance - beginning of year (in shares)	40,905
Granted (in shares)
Forfeited (in shares)
Vested (in shares)	(3,000)
Balance - end of period (in shares)	37,905
Weighted average grant date fair value (in dollars per share)	$ 13.09

STOCK BASED COMPENSATION (Det57

STOCK BASED COMPENSATION (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	Feb. 05, 2016	Jan. 23, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Apr. 05, 2012
Stock based compensation
Total unrecognized compensation cost related to stock options			$ 83		$ 83
Closing price of common stock			$ 24.56		$ 24.56
Common Stock
Stock based compensation
Shares authorized							435,472
Stock options
Stock based compensation
Shares authorized							311,052
Granted (in shares)
Options earned (in shares)					35,367	33,616
Stock-based compensation expense			$ 14	$ 13	$ 42	$ 37
Expected period for recognition					2 years
Stock options | Minimum | Officer
Stock based compensation
Granted (in shares)	21,000
Vesting period	5 years
Weighted average vesting period	5 years 8 months 12 days
Expiration period	10 years
Stock options | Maximum | Officer
Stock based compensation
Vesting period	7 years
Restricted stock
Stock based compensation
Stock-based compensation expense			60	$ 55	$ 183	$ 184
Grant date fair value of restricted stock	$ 19.40	$ 20.01
Total grant date fair value	$ 136	$ 252
Unrecognized compensation expense for nonvested restricted stock awards			$ 364		$ 364
Expected period for recognition					2 years 6 months
Restricted stock | Minimum | Officer
Stock based compensation
Number of restricted stock granted to officers	7,000
Vesting period	5 years
Weighted average vesting period	6 years
Restricted stock | Maximum
Stock based compensation
Shares authorized							124,420
Restricted stock | Maximum | Officer
Stock based compensation
Vesting period	7 years

LOAN SERVICING RIGHTS (Details)

LOAN SERVICING RIGHTS (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Servicing Assets at Fair Value [Line Items]
Mortgage loan portfolio serviced	$ 1,216	$ 1,046
FHLMC
Servicing Assets at Fair Value [Line Items]
Mortgage loan portfolio serviced	$ 114,308	$ 125,812

LOAN SERVICING RIGHTS (Details

LOAN SERVICING RIGHTS (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Loan servicing rights:
Beginning of period:	$ 1,219	$ 1,310	$ 1,046	$ 1,396
Additions
Change in fair value	(3)	(142)	170	(228)
End of period:	$ 1,216	$ 1,168	$ 1,216	$ 1,168

LOAN SERVICING RIGHTS (Detail T

LOAN SERVICING RIGHTS (Detail Textuals) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Servicing Assets at Fair Value [Line Items]
Discount rate	9.75%	9.38%
Weighted average default rate	0.61%	0.61%
Minimum
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	5.00%	9.00%
Maximum
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	11.80%	19.70%
FHLMC
Servicing Assets at Fair Value [Line Items]
Custodial escrow balances	$ 681		$ 1,007

SUPPLEMENTAL CASH FLOW INFORM61

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash paid during the period for:
Interest paid	$ 970	$ 884
Income taxes paid	1,280	117
Supplemental noncash disclosures:
Transfers from loans to real estate owned	$ 277	$ 1,613

SUBSEQUENT EVENTS (Detail Textu

SUBSEQUENT EVENTS (Detail Textuals) - $ / shares	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 27, 2017	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
SUBSEQUENT EVENTS
Dividends declared per share (in dollars per share)		$ 0.10	$ 0.10	$ 0.30	$ 0.30
Subsequent event
SUBSEQUENT EVENTS
Dividends declared per share (in dollars per share)	$ 0.10
Dividends payable, date declared	Apr. 27, 2017
Dividends payable, date of record	May 11, 2017
Dividends payable, date to be paid	May 25, 2017