Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Dec. 31, 2014 | Feb. 09, 2015 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Dec-14 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | MW Bancorp, Inc. | |
Entity Central Index Key | 1600065 | |
Current Fiscal Year End Date | -24 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | MWBC | |
Entity Common Stock, Shares Outstanding | 876,163 |
Condensed_Balance_Sheets
Condensed Balance Sheets (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash and due from banks | $740 | $1,793 |
Interest-bearing demand deposits | 1,970 | 2,677 |
Cash and cash equivalents | 2,710 | 4,470 |
Interest-bearing time deposits in other financial institutions | 3,100 | 3,998 |
Available-for-sale securities | 4,325 | 5,416 |
Held-to-maturity securities (fair value of $1,902 at December 31, 2014 and $2,326 at June 30, 2014) | 1,973 | 2,374 |
Loans, net of allowance for loan losses of $1,573 and $1,537 | 77,748 | 67,284 |
Premises and equipment, net | 356 | 385 |
Federal Home Loan Bank stock, at cost | 1,164 | 1,164 |
Foreclosed assets, net | 143 | 158 |
Accrued interest receivable | 198 | 187 |
Company owned life insurance | 3,329 | 3,282 |
Other assets | 960 | 395 |
Total assets | 96,006 | 89,113 |
Deposits | ||
Demand and money market | 8,422 | 5,597 |
Savings | 8,774 | 9,058 |
Time | 42,739 | 46,055 |
Total deposits | 59,935 | 60,710 |
Federal Home Loan Bank advances | 19,128 | 17,333 |
Stock subscription proceeds in escrow | 6,658 | 0 |
Directors deferred compensation | 1,005 | 2,012 |
Other liabilities | 363 | 229 |
Total liabilities | 87,089 | 80,284 |
Commitments and Contigent Liabilities | 0 | 0 |
Equity | ||
Retained earnings | 9,001 | 8,922 |
Accumulated other comprehensive loss | -84 | -93 |
Total equity | 8,917 | 8,829 |
Total liabilities and equity | $96,006 | $89,113 |
Condensed_Balance_Sheets_Paren
Condensed Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||||||
Held-to-maturity Securities, Fair Value | $1,902 | $2,326 | $2,893 | |||
Loans and Leases Receivable, Allowance | $1,573 | $1,551 | $1,537 | $1,578 | $1,430 | $1,398 |
Condensed_Statements_of_Operat
Condensed Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Interest Income | ||||
Loans, including fees | $792 | $669 | $1,534 | $1,311 |
Taxable securities | 31 | 47 | 55 | 81 |
Tax exempt securities | 0 | 8 | 0 | 14 |
Interest-bearing deposits | 30 | 20 | 54 | 40 |
Total interest income | 853 | 744 | 1,643 | 1,446 |
Interest Expense | ||||
Deposits | 172 | 179 | 350 | 356 |
Federal Home Loan Bank advances | 74 | 49 | 138 | 93 |
Total interest expense | 246 | 228 | 488 | 449 |
Net Interest Income | 607 | 516 | 1,155 | 997 |
Provision for Loan Losses | 15 | 200 | 30 | 230 |
Net Interest Income After Provision for Loan Losses | 592 | 316 | 1,125 | 767 |
Noninterest Income | ||||
Gain on sale of loans | 18 | 0 | 27 | 4 |
Gain (loss) on sale of foreclosed assets, net | 17 | -18 | 18 | 26 |
Income from Company owned life insurance | 24 | 24 | 47 | 48 |
Other operating | 6 | 2 | 13 | 12 |
Total noninterest income | 65 | 8 | 105 | 90 |
Noninterest Expense | ||||
Salaries, employee benefits and directors fees | 355 | 387 | 690 | 735 |
Occupancy and equipment | 33 | 45 | 66 | 79 |
Data processing | 11 | 25 | 40 | 43 |
Franchise taxes | 21 | 36 | 38 | 72 |
FDIC insurance premiums | 18 | 19 | 37 | 40 |
Professional services | 56 | 76 | 125 | 115 |
Advertising | 5 | 40 | 22 | 61 |
Office supplies | 7 | 10 | 14 | 17 |
Business entertainment | 12 | 21 | 16 | 24 |
Other | 58 | 76 | 103 | 121 |
Total noninterest expense | 576 | 735 | 1,151 | 1,307 |
Income (Loss) Before Federal Income Taxes (Benefits) | 81 | -411 | 79 | -450 |
Federal Income Tax Expense (Benefit) | 0 | 0 | 0 | -15 |
Net Income (Loss) | $81 | ($411) | $79 | ($435) |
Condensed_Statements_of_Compre
Condensed Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Net income (loss) | $81 | ($411) | $79 | ($435) |
Other comprehensive income (loss): | ||||
Unrealized holding gains (losses) on securities available for sale | 23 | -38 | 5 | 5 |
Net unrealized holding loss at time of transfer for available-for-sale securities transferred to held-to-maturity | 0 | 0 | 0 | -31 |
Amortization of net unrealized holding loss on held-to-maturity securities | 2 | 2 | 4 | 4 |
Net unrealized gains (losses) | 25 | -36 | 9 | -22 |
Tax effect | 0 | 0 | 0 | -15 |
Total other comprehensive income (loss) | 25 | -36 | 9 | -37 |
Comprehensive income (loss) | $106 | ($447) | $88 | ($472) |
Condensed_Statements_of_Cash_F
Condensed Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Cash Flows from Operating Activities | ||
Net income (loss) | $79 | ($435) |
Adjustments to reconcile net income (loss) to net cash from operating activities | ||
Depreciation and amortization | 47 | 44 |
Amortization of premiums and discounts on securities, net | 49 | 38 |
Accretion of deferred loan origination fees and costs, net | -23 | -4 |
Provision for loan losses | 30 | 230 |
Gain on sale of loans | -27 | -4 |
Proceeds from sales of loans | 1,539 | 233 |
Loans originated for sale | -1,523 | -229 |
Gain on sale of foreclosed assets | -18 | -39 |
Impairment loss on foreclosed assets | 0 | 13 |
Net changes in: | ||
Accrued interest receivable | -11 | -37 |
Other assets | -554 | 232 |
Cash surrender value of life insurance | -47 | -48 |
Other liabilities | 134 | -25 |
Directors deferred compensation | -1,007 | -12 |
Net cash from operating activities | -1,332 | -43 |
Cash Flows from Investing Activities | ||
Net change in interest-bearing deposits in other financial institutions | 898 | -1,748 |
Purchases of available-for-sale securities | 0 | -4,284 |
Proceeds from maturities of available-for-sale securities | 500 | 0 |
Principal repayments from maturities of held-to-maturity securities | 400 | 176 |
Proceeds from sales of available-for-sale securities | 0 | 3,562 |
Principal repayments from available-for-sale mortgage-backed securities | 552 | 391 |
Net change in loans | -10,549 | -2,195 |
Purchase of premises and equipment | -18 | -141 |
Proceeds from sale of foreclosed assets | 111 | 530 |
Net cash from investing activities | -8,106 | -3,709 |
Cash Flows from Financing Activities | ||
Net change in deposits | -775 | 1,370 |
Proceeds from stock subscriptions held in escrow | 6,658 | 0 |
Proceeds from Federal Home Loan Bank advances | 11,500 | 3,000 |
Repayment of Federal Home Loan Bank advances | -9,705 | -682 |
Net cash from financing activities | 7,678 | 3,688 |
Net Change in Cash and Cash Equivalents | -1,760 | -64 |
Beginning Cash and Cash Equivalents | 4,470 | 4,064 |
Ending Cash and Cash Equivalents | 2,710 | 4,000 |
Supplemental Disclosure of Cash Flow Information | ||
Interest on deposits and borrowings | 483 | 446 |
Supplemental Disclosure of Noncash Investing Activities | ||
Transfer of securities from available for sale to held to maturity at fair value | 0 | 2,893 |
Transfers from loans to foreclosed assets | 78 | 0 |
Sale and financing of foreclosed assets | $0 | $66 |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Note 1: Basis of Presentation |
MW Bancorp, Inc. (the “Company” or the “Registrant”), headquartered in Cincinnati, Ohio, was formed to serve as the stock holding company for Mt. Washington Savings Bank (the “Bank”) following its mutual-to-stock conversion. As of December 31, 2014, the stock conversion had not been completed, and as of that date, the Registrant had no assets or liabilities, and had not conducted any business other than that of an organizational nature. The conversion was completed effective January 29, 2015. The Company issued 876,163 shares at an offering price of $10.00 per share. | |
The accompanying unaudited condensed balance sheet as of June 30, 2014, which has been derived from audited financial statements, and unaudited condensed financial statements of the Bank as of December 31, 2014 and for the three and six months ended December 31, 2014 and 2013, were prepared in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America. Accordingly, these condensed financial statements should be read in conjunction with the financial statements and notes thereto of the Bank for the year ended June 30, 2014 included in the Registrant’s Form S-1. Reference is made to the accounting policies of the Bank described in the Notes to the Financial Statements contained in the Form S-1. | |
In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary for a fair presentation of the unaudited financial statements have been included to present fairly the financial position as of December 31, 2014 and the results of operations for the three and six months ended December 31, 2014 and 2013, and cash flows for the six months ended December 31, 2014 and 2013. All interim amounts have not been audited and the results of operations for the three and six months ended December 31, 2014, herein are not necessarily indicative of the results of operations to be expected for the entire year. | |
Use of Estimates | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of deferred tax assets and fair values of financial instruments. | |
Reclassifications | |
Certain reclassifications have been made to the June 30, 2014 financial statements to conform to the December 31, 2014 financial statement presentation. These reclassifications had no effect on results of operations or equity. | |
Securities
Securities | 6 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||
Securities | Note 2: Securities | |||||||||||||||||||
The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows: | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Available-for-sale Securities: | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential | $ | 4,300 | $ | 32 | $ | -7 | $ | 4,325 | ||||||||||||
30-Jun-14 | ||||||||||||||||||||
U. S. Government agency bonds | $ | 500 | $ | 2 | $ | - | $ | 502 | ||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential | 4,896 | 22 | -4 | 4,914 | ||||||||||||||||
$ | 5,396 | $ | 24 | $ | -4 | $ | 5,416 | |||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Held-to-maturity Securities: | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential | $ | 1,973 | $ | 31 | $ | -102 | $ | 1,902 | ||||||||||||
30-Jun-14 | ||||||||||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential | $ | 2,374 | $ | - | $ | -48 | $ | 2,326 | ||||||||||||
The amortized cost and fair value of available-for-sale securities and held-to-maturity securities at December 31, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Available-for-sale | Held-to-maturity | |||||||||||||||||||
Amortized | Fair | Amortized | Fair | |||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential - not due at a single maturity date | $ | 4,300 | $ | 4,325 | $ | 1,973 | $ | 1,902 | ||||||||||||
The Bank had no sales of investment securities during the three and six month periods ended December 31, 2014. Proceeds from sales of investment securities during the six month period ended December 31, 2013 were $3.6 million and such sale did not result in recognition of a gain or loss in that period. The Bank had no sales of investment securities during the three month period ended December 31, 2013. | ||||||||||||||||||||
The Bank had not pledged any of its investment securities at December 31, 2014 and June 30, 2014. | ||||||||||||||||||||
At December 31, 2014 and June 30, 2014, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of the Bank’s equity. | ||||||||||||||||||||
On August 1, 2013, the Bank reclassified its collateralized mortgage obligation portfolio to held-to-maturity from available-for sale because management intends to hold these securities to maturity. The securities had a total amortized cost of $2.925 million and a corresponding fair value of $2.893 million, therefore the gross unrealized loss on these securities at the date of transfer was $31,000. The unrealized holding loss at the time of transfer continues to be reported in accumulated other comprehensive loss and is amortized over the remaining lives of the securities as an adjustment of the yield. The amortization of the remaining holding loss reported in accumulated other comprehensive income (loss) will offset the effect on interest income of the discount for the transferred securities. The remaining unamortized balance of the losses for securities transferred from available-for-sale to held-to-maturity was $22,000 at December 31, 2014. | ||||||||||||||||||||
The following tables show the Bank’s investments’ gross unrealized losses and fair value of the Bank’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2014 and June 30, 2014: | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Description of Securities | Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(In thousands) | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Available-for-sale Securities: | ||||||||||||||||||||
Mortgage-backed securities of U.S. sponsored entities - residential | $ | - | $ | - | $ | 2,006 | $ | -7 | $ | 2,006 | $ | -7 | ||||||||
Held-to-maturity Securities: | ||||||||||||||||||||
Mortgage-backed securities - of U.S. sponsored entities - residential | - | - | 1,408 | -102 | 1,408 | -102 | ||||||||||||||
$ | - | $ | - | $ | 3,414 | $ | -109 | $ | 3,414 | $ | -109 | |||||||||
30-Jun-14 | ||||||||||||||||||||
Available-for-sale Securities: | ||||||||||||||||||||
Mortgage-backed securities of U.S. sponsored entities - residential | $ | 1,365 | $ | -4 | $ | - | $ | - | $ | 1,365 | $ | -4 | ||||||||
Held-to-maturity Securities: | ||||||||||||||||||||
Mortgage-backed securities - of U.S. sponsored entities - residential | 2,326 | -48 | - | - | 2,326 | -48 | ||||||||||||||
$ | 3,691 | $ | -52 | $ | - | $ | - | $ | 3,691 | $ | -52 | |||||||||
Other-than-temporary Impairment | ||||||||||||||||||||
At December 31, 2014 and June 30, 2014, all of the mortgage-backed securities held by the Bank were issued by U.S. government-sponsored entities and agencies, primarily Fannie Mae and Ginnie Mae, institutions which the government has affirmed its commitment to support. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Bank does not have the intent to sell these mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Bank does not consider these securities to be other-than-temporarily impaired at December 31, 2014 and June 30, 2014. | ||||||||||||||||||||
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 6 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||
Loans and Allowance for Loan Losses | Note 3: | Loans and Allowance for Loan Losses | ||||||||||||||||||||||
Loans at December 31, 2014 and June 30, 2014 include: | ||||||||||||||||||||||||
December 31, | June 30, | |||||||||||||||||||||||
2014 | 2014 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate loans | ||||||||||||||||||||||||
One- to four-family residential | $ | 60,623 | $ | 54,069 | ||||||||||||||||||||
Multi-family residential | 4,309 | 2,124 | ||||||||||||||||||||||
Commercial | 11,807 | 8,998 | ||||||||||||||||||||||
Construction | 1,439 | 2,796 | ||||||||||||||||||||||
Consumer and other | 1,118 | 812 | ||||||||||||||||||||||
Total loans | 79,296 | 68,799 | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||
Net deferred loan costs | -25 | -22 | ||||||||||||||||||||||
Allowance for loan losses | 1,573 | 1,537 | ||||||||||||||||||||||
Net loans | $ | 77,748 | $ | 67,284 | ||||||||||||||||||||
The following tables present, by portfolio segment, the activity in the allowance for loan losses for the three and six months ended December 31, 2014, and the recorded investment in loans and impairment method at December 31, 2014: | ||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||
1-4 Family | 1-4 Family | |||||||||||||||||||||||
Owner | Non-Owner | Multi- | ||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Three Months Ended December 31, 2014 | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Balance, October 1, 2014 | $ | 1,089 | $ | 267 | $ | 23 | $ | 98 | $ | 62 | 12 | $ | 1,551 | |||||||||||
Provision for loan losses | 11 | 15 | -21 | 47 | -23 | -14 | 15 | |||||||||||||||||
Charge-offs | - | - | - | - | - | - | - | |||||||||||||||||
Recoveries | 5 | - | - | - | - | 2 | 7 | |||||||||||||||||
Balance, December 31, 2014 | $ | 1,105 | $ | 282 | $ | 2 | $ | 145 | # | $ | 39 | $ | - | $ | 1,573 | |||||||||
Six Months Ended December 31, 2014 | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Balance, July 1, 2014 | $ | 1,065 | $ | 278 | $ | 33 | $ | 105 | $ | 56 | $ | - | $ | 1,537 | ||||||||||
Provision for loan losses | 37 | 4 | -31 | 40 | -17 | -3 | 30 | |||||||||||||||||
Charge-offs | -3 | - | - | - | - | - | -3 | |||||||||||||||||
Recoveries | 6 | - | - | - | - | 3 | 9 | |||||||||||||||||
Balance, December 31, 2014 | $ | 1,105 | $ | 282 | $ | 2 | $ | 145 | $ | 39 | $ | - | $ | 1,573 | ||||||||||
Real Estate | ||||||||||||||||||||||||
1-4 Family | 1-4 Family | |||||||||||||||||||||||
Owner | Non-Owner | Multi- | ||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 153 | $ | 96 | $ | - | $ | - | $ | - | $ | - | $ | 249 | ||||||||||
Ending balance, collectively evaluated for impairment | $ | 952 | $ | 186 | $ | 2 | $ | 145 | $ | 39 | $ | - | $ | 1,324 | ||||||||||
Loans: | ||||||||||||||||||||||||
Ending balance | $ | 50,781 | $ | 9,842 | $ | 4,309 | $ | 11,807 | $ | 1,439 | $ | 1,118 | $ | 79,296 | ||||||||||
Ending balance; individually evaluated for impairment | $ | 1,776 | $ | 304 | $ | - | $ | - | $ | - | $ | - | $ | 2,080 | ||||||||||
Ending balance; collectively evaluated for impairment | $ | 49,005 | $ | 9,538 | $ | 4,309 | $ | 11,807 | $ | 1,439 | $ | 1,118 | $ | 77,216 | ||||||||||
The following tables present, by portfolio segment, the activity in the allowance for loan losses for the three and six months ended December 31, 2013, and the recorded investment in loans and impairment method at June 30, 2014: | ||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||
1-4 Family | 1-4 Family | |||||||||||||||||||||||
Owner | Non-Owner | Multi- | ||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Three Months Ended December 31, 2013 | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Balance, October 1, 2013 | $ | 995 | $ | 298 | $ | 19 | $ | 110 | $ | 4 | 4 | $ | 1,430 | |||||||||||
Provision for loan losses | 151 | 11 | -3 | 16 | 25 | - | 200 | |||||||||||||||||
Charge-offs | -54 | - | - | - | - | - | -54 | |||||||||||||||||
Recoveries | 1 | - | - | - | - | 1 | 2 | |||||||||||||||||
Balance, December 31, 2013 | $ | 1,093 | $ | 309 | $ | 16 | $ | 126 | $ | 29 | $ | 5 | $ | 1,578 | ||||||||||
Six Months Ended December 31, 2013 | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Balance, July 1, 2013 | $ | 1,008 | $ | 273 | $ | 19 | $ | 77 | $ | 15 | $ | 6 | $ | 1,398 | ||||||||||
Provision for loan losses | 136 | 36 | -3 | 49 | 14 | -2 | 230 | |||||||||||||||||
Charge-offs | -54 | - | - | - | - | - | -54 | |||||||||||||||||
Recoveries | 3 | - | - | - | - | 1 | 4 | |||||||||||||||||
Balance, December 31, 2013 | $ | 1,093 | $ | 309 | $ | 16 | $ | 126 | $ | 29 | $ | 5 | $ | 1,578 | ||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 205 | $ | 114 | $ | - | $ | - | $ | - | $ | - | $ | 319 | ||||||||||
Ending balance, collectively evaluated for impairment | $ | 860 | $ | 164 | $ | 33 | $ | 105 | $ | 56 | $ | - | $ | 1,218 | ||||||||||
Loans: | ||||||||||||||||||||||||
Ending balance | $ | 45,255 | $ | 8,814 | $ | 2,124 | $ | 8,998 | $ | 2,796 | $ | 812 | $ | 68,799 | ||||||||||
Ending balance; individually evaluated for impairment | $ | 1,810 | $ | 340 | $ | - | $ | 159 | $ | - | $ | - | $ | 2,309 | ||||||||||
Ending balance; collectively evaluated for impairment | $ | 43,445 | $ | 8,474 | $ | 2,124 | $ | 8,839 | $ | 2,796 | $ | 812 | $ | 66,490 | ||||||||||
Internal Risk Categories | ||||||||||||||||||||||||
The Bank has adopted a standard loan grading system for all loans. Loans are selected for a grading review based on certain characteristics, including concentrations of credit, subprime criteria and upon delinquency of 90 days or more. Definitions are as follows: | ||||||||||||||||||||||||
Pass: Loans categorized as Pass are higher quality loans that do not fit any of the other categories described below. | ||||||||||||||||||||||||
Special Mention: The loans identified as special mention have an obvious flaw or a potential weakness that deserves special management attention, but which has not yet impacted collectability. These flaws or weaknesses, if left uncorrected, may result in the deterioration of the prospects of repayment or the deterioration of the Bank’s credit position. | ||||||||||||||||||||||||
Substandard: These are loans with a well-defined weakness, where the Bank has a serious concern about the borrower’s ability to make full repayment if the weaknesses are not corrected. The loan may contain a flaw, which could impact the borrower’s ability to repay, or the borrower’s continuance as a “going concern”. When collateral values are not sufficient to secure the loan and other weaknesses are present, the loan may be rated substandard. A loan will also be graded substandard when full repayment is expected, but it must come from the liquidation of collateral. One-to-four family residential real estate loans and home equity loans that are past due 90 days or more with loan to value ratios greater than 60 percent are classified as substandard. | ||||||||||||||||||||||||
Doubtful: These are loans with major defined weaknesses, where future charge off of a part of the credit is highly likely. The primary repayment source is no longer viable and the viability of the secondary source of repayment is in doubt. The amount of loss is uncertain due to circumstances within the credit that are not yet fully developed and the loan is rated “Doubtful” until the loss can be accurately estimated. | ||||||||||||||||||||||||
Loss: These are near term charge offs. Loans classified as loss are considered uncollectible and of such little value that it is not desirable to continue carrying them as assets on the Bank’s financial statements, even though partial recovery may be possible at some future time. | ||||||||||||||||||||||||
The following tables present the credit risk profile of the Bank’s loan portfolio based on internal rating category and payment activity as of December 31, 2014 and June 30, 2014. | ||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||
1-4 Family | 1-4 Family | |||||||||||||||||||||||
Owner | Non-Owner | Multi- | ||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Pass | $ | 49,758 | $ | 9,538 | $ | 4,309 | $ | 11,807 | $ | 1,439 | $ | 1,118 | $ | 77,969 | ||||||||||
Special mention | - | - | - | - | - | - | - | |||||||||||||||||
Substandard | 1,023 | 304 | - | - | - | - | 1,327 | |||||||||||||||||
Doubtful | - | - | - | - | - | - | - | |||||||||||||||||
Total | $ | 50,781 | $ | 9,842 | $ | 4,309 | $ | 11,807 | $ | 1,439 | $ | 1,118 | $ | 79,296 | ||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||
1-4 Family | 1-4 Family | |||||||||||||||||||||||
Owner | Non-Owner | Multi- | ||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Pass | $ | 43,724 | $ | 8,434 | $ | 2,124 | $ | 8,998 | $ | 2,796 | $ | 812 | $ | 66,888 | ||||||||||
Special mention | - | - | - | - | - | - | - | |||||||||||||||||
Substandard | 1,531 | 380 | - | - | - | - | 1,911 | |||||||||||||||||
Doubtful | - | - | - | - | - | - | - | |||||||||||||||||
Total | $ | 45,255 | $ | 8,814 | $ | 2,124 | $ | 8,998 | $ | 2,796 | $ | 812 | $ | 68,799 | ||||||||||
The Bank has a portfolio of loans designated as subprime, defined as those loans made to borrowers with a lower credit score. These loans are primarily secured by 1-4 family real estate, including both owner-occupied and non-owner occupied properties. Subprime loans totaled $6.5 million and $9.3 million at December 31, 2014 and June 30, 2014, respectively. The decrease was due primarily to updated credit reviews of borrowers in the portfolio and the Bank concluded that certain borrowers no longer met the criteria for subprime credit status. | ||||||||||||||||||||||||
The Bank evaluates the loan risk grading system definitions and allowance for loan losses methodology on an ongoing basis. No significant changes were made to either during the past year. | ||||||||||||||||||||||||
The following tables present the Bank’s loan portfolio aging analysis of the recorded investment in loans as of December 31, 2014 and June 30, 2014: | ||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Total Loans > | ||||||||||||||||||||||||
30-59 Days | 60-89 Days | Greater Than | Total | Total Loans | 90 Days & | |||||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Current | Receivable | Accruing | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | $ | 212 | $ | - | $ | - | $ | 212 | $ | 50,569 | $ | 50,781 | $ | - | ||||||||||
1-4 family non-owner occupied | 103 | - | - | 103 | 9,739 | 9,842 | - | |||||||||||||||||
Multi-family residential | - | - | - | - | 4,309 | 4,309 | - | |||||||||||||||||
Commercial | - | - | - | - | 11,807 | 11,807 | - | |||||||||||||||||
Construction | - | - | - | - | 1,439 | 1,439 | - | |||||||||||||||||
Consumer and other | - | - | - | - | 1,118 | 1,118 | - | |||||||||||||||||
Total | $ | 315 | $ | - | $ | - | $ | 315 | $ | 78,981 | $ | 79,296 | $ | - | ||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Total Loans > | ||||||||||||||||||||||||
30-59 Days | 60-89 Days | Greater Than | Total | Total Loans | 90 Days & | |||||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Current | Receivable | Accruing | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | $ | 430 | $ | - | $ | 402 | $ | 832 | $ | 44,423 | $ | 45,255 | $ | - | ||||||||||
1-4 family non-owner occupied | - | - | - | - | 8,814 | 8,814 | - | |||||||||||||||||
Multi-family residential | - | - | - | - | 2,124 | 2,124 | - | |||||||||||||||||
Commercial | - | - | - | - | 8,998 | 8,998 | - | |||||||||||||||||
Construction | - | - | - | - | 2,796 | 2,796 | - | |||||||||||||||||
Consumer and other | - | - | - | - | 812 | 812 | - | |||||||||||||||||
Total | $ | 430 | $ | - | $ | 402 | $ | 832 | $ | 67,967 | $ | 68,799 | $ | - | ||||||||||
A loan is considered impaired, in accordance with the impairment accounting guidance (ASC 310-10-35-16), when based on current information and events, it is probable the Bank will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming multi-family and commercial loans but also include loans modified in troubled debt restructurings. | ||||||||||||||||||||||||
The following table presents impaired loan information as of and for the three and six months ended December 31, 2014: | ||||||||||||||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||||||||||||||
As of December 31, 2014 | December 31, 2014 | December 31, 2014 | ||||||||||||||||||||||
Allowance | ||||||||||||||||||||||||
Unpaid | for Loan | Average | Interest | Average | Interest | |||||||||||||||||||
Recorded | Principal | Losses | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Balance | Allocated | Investment | Recognized | Investment | Recognized | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Loans with no related allowance recorded: | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | $ | 1,124 | $ | 1,267 | $ | - | $ | 1,110 | $ | - | 1,116 | $ | - | |||||||||||
1-4 family non-owner occupied | 76 | 90 | - | 76 | - | 77 | - | |||||||||||||||||
Multi-family residential | - | - | - | - | - | - | - | |||||||||||||||||
Commercial | - | - | - | - | - | - | - | |||||||||||||||||
Construction | - | - | - | - | - | - | - | |||||||||||||||||
Consumer and other | - | - | - | - | - | |||||||||||||||||||
Loans with an allowance recorded: | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | 652 | 726 | 153 | 656 | - | 661 | - | |||||||||||||||||
1-4 family non-owner occupied | 228 | 260 | 96 | 230 | - | 230 | - | |||||||||||||||||
Multi-family residential | - | - | - | - | - | - | - | |||||||||||||||||
Commercial | - | - | - | - | - | - | - | |||||||||||||||||
Construction | - | - | - | - | - | - | - | |||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | |||||||||||||||||
Totals | $ | 2,080 | $ | 2,343 | $ | 249 | $ | 2,072 | $ | - | $ | 2,084 | $ | - | ||||||||||
The following table presents impaired loan information as of June 30, 2014 and for the three and six months ended December 31, 2013: | ||||||||||||||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||||||||||||||
As of June 30, 2014 | December 31, 2013 | December 31, 2013 | ||||||||||||||||||||||
Allowance | ||||||||||||||||||||||||
Unpaid | for Loan | Average | Interest | Average | Interest | |||||||||||||||||||
Recorded | Principal | Losses | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Balance | Allocated | Investment | Recognized | Investment | Recognized | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Loans with no related allowance recorded: | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | $ | 918 | $ | 1,003 | $ | - | $ | 930 | $ | - | $ | 937 | $ | - | ||||||||||
1-4 family non-owner occupied | 102 | 114 | - | 312 | - | 315 | - | |||||||||||||||||
Multi-family residential | - | - | - | - | - | - | - | |||||||||||||||||
Commercial | 159 | 159 | - | 53 | - | 53 | - | |||||||||||||||||
Construction | - | - | - | - | - | - | - | |||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | |||||||||||||||||
Loans with an allowance recorded: | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | 892 | 905 | 205 | 1,364 | - | 1,377 | - | |||||||||||||||||
1-4 family non-owner occupied | 238 | 263 | 114 | 84 | - | 85 | - | |||||||||||||||||
Multi-family residential | - | - | - | - | - | - | - | |||||||||||||||||
Commercial | - | - | - | 178 | - | 179 | - | |||||||||||||||||
Construction | - | - | - | - | - | - | - | |||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | |||||||||||||||||
Totals | $ | 2,309 | $ | 2,444 | $ | 319 | $ | 2,921 | $ | - | $ | 2,946 | $ | - | ||||||||||
The recorded investment in loans excludes accrued interest receivable and loan origination fees, net due to immateriality. For purposes of this disclosure, the unpaid principal balance is not reduced for partial charge-offs. | ||||||||||||||||||||||||
Interest income recognized on a cash basis was not materially different than interest income recognized. | ||||||||||||||||||||||||
The following table presents the Bank’s nonaccrual loans at December 31, 2014 and June 30, 2014. The table excludes performing troubled debt restructurings. | ||||||||||||||||||||||||
December 31, | June 30, | |||||||||||||||||||||||
2014 | 2014 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | $ | 905 | $ | 1,099 | ||||||||||||||||||||
1-4 family non-owner occupied | 304 | 340 | ||||||||||||||||||||||
Multi-family residential | - | - | ||||||||||||||||||||||
Commercial | - | - | ||||||||||||||||||||||
Construction | - | - | ||||||||||||||||||||||
Consumer and other | - | - | ||||||||||||||||||||||
Total nonaccrual | $ | 1,209 | $ | 1,439 | ||||||||||||||||||||
At December 31, 2014 and June 30, 2014, the Bank had certain loans that were modified in troubled debt restructurings and impaired. The modification of terms of such loans included one or a combination of the following: an extension of maturity, a reduction of the stated interest rate or a permanent reduction of the recorded investment in the loan. The Bank had loans modified in a troubled debt restructuring totaling $1.7 million at both December 31, 2014 and June 30, 2014. Troubled debt restructured loans had specific allowances totaling $135,000 and $148,000 at December 31, 2014 and June 30, 2014, respectively. At December 31, 2014, the Bank had no commitments to lend additional funds to borrowers with troubled debt restructured loans. | ||||||||||||||||||||||||
The Bank had no modified loans that were identified as troubled debt restructurings during the three and six months ended December 31, 2014. The Bank had one modified loan that was identified as a troubled debt restructuring during the three and six months ended December 31, 2013. | ||||||||||||||||||||||||
The following table presents information regarding troubled debt restructurings by class for the three and six months ended December 31, 2013. Newly classified troubled debt restructurings were as follows: | ||||||||||||||||||||||||
Pre- | Post- | |||||||||||||||||||||||
Modification | Modification | |||||||||||||||||||||||
Outstanding | Outstanding | |||||||||||||||||||||||
Recorded | Recorded | |||||||||||||||||||||||
Number of Loans | Investment | Investment | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | 1 | $ | 190 | $ | 190 | |||||||||||||||||||
Newly restructured loans by type of modification are as follows for the three and six months ended December 31, 2013. | ||||||||||||||||||||||||
Total | ||||||||||||||||||||||||
Interest Only | Term | Combination | Modification | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Real estate | ||||||||||||||||||||||||
1-4 family owner-occupied | $ | 190 | $ | - | $ | - | $ | 190 | ||||||||||||||||
The troubled debt restructuring described above increased the allowance for loan losses by $0 and resulted in a charge off of $18,000 during the three and six month periods ended December 31, 2013. | ||||||||||||||||||||||||
The Bank had no troubled debt restructurings modified during the twelve months ended December 31, 2014 and 2013 that subsequently defaulted during the three and six month periods ended December 31, 2014 and 2013. A loan is considered to be in payment default once it is 30 days contractually past due under the loan’s modified terms. | ||||||||||||||||||||||||
In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Bank’s internal underwriting policy. | ||||||||||||||||||||||||
Regulatory_Matters
Regulatory Matters | 6 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Banking and Thrift [Abstract] | ||||||||||||||||||||
Regulatory Matters | Note 4: | Regulatory Matters | ||||||||||||||||||
The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory- and possibly additional discretionary- actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Furthermore, the Bank’s regulators could require adjustments to regulatory capital not reflected in these financial statements. Quantitative measures established by regulation to ensure capital adequacy requires the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital to total assets (as defined). Management believes, as of December 31, 2014 and June 30, 2014 , that the Bank meets all capital adequacy requirements to which it is subject. | ||||||||||||||||||||
As of December 31, 2014 and June 30, 2014, the most recent notification categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier I risk-based and Tier I leverage capital ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Bank’s category. | ||||||||||||||||||||
The Bank’s actual capital amounts and ratios are presented in the following table: | ||||||||||||||||||||
To Be Well Capitalized | ||||||||||||||||||||
For Capital Adequacy | Under Prompt Corrective | |||||||||||||||||||
Actual | Purposes | Action Provisions | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||
Total Capital (to Risk-Weighted Assets) | $ | 9,672 | 17.6 | % | $ | 4,394 | 8 | % | $ | 5,492 | 10 | % | ||||||||
Tier I Capital (to Risk-Weighted Assets) | $ | 9,001 | 16.4 | % | $ | 2,197 | 4 | % | $ | 3,295 | 6 | % | ||||||||
Tier I Capital (to Total Assets) | $ | 9,001 | 9.3 | % | $ | 3,859 | 4 | % | $ | 4,823 | 5 | % | ||||||||
As of June 30, 2014 | ||||||||||||||||||||
Total Capital (to Risk-Weighted Assets) | $ | 9,511 | 20.6 | % | $ | 3,699 | 8 | % | $ | 4,623 | 10 | % | ||||||||
Tier I Capital (to Risk-Weighted Assets) | $ | 8,922 | 19.3 | % | $ | 1,849 | 4 | % | $ | 2,774 | 6 | % | ||||||||
Tier I Capital (to Total Assets) | $ | 8,922 | 10 | % | $ | 3,565 | 4 | % | $ | 4,456 | 5 | % | ||||||||
Disclosures_about_Fair_Value_o
Disclosures about Fair Value of Assets and Liabilities | 6 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Disclosures about Fair Value of Assets and Liabilities | Note 5: | Disclosures about Fair Value of Assets and Liabilities | |||||||||||||||
Fair value is the exchange price that would be received to sell 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 at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: | |||||||||||||||||
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 an entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | ||||||||||||||||
Recurring Measurements | |||||||||||||||||
The following table presents the fair value measurement of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and June 30, 2014: | |||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Fair | Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
(In thousands) | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Mortgage-backed securities of U.S. of government sponsored entities – residential | $ | 4,325 | $ | - | $ | 4,325 | $ | - | |||||||||
30-Jun-14 | |||||||||||||||||
U. S. Government agency bonds | $ | 502 | $ | - | $ | 502 | $ | - | |||||||||
Mortgage-backed securities of U.S. of government sponsored entities - residential | 4,914 | - | 4,914 | - | |||||||||||||
$ | 5,416 | $ | - | $ | 5,416 | $ | - | ||||||||||
Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. There were no assets classified within Level 3 of the fair value hierarchy measured on a recurring basis. There were no transfers between Level 1 and Level 2 during the periods ended December 31, 2014 and 2013. | |||||||||||||||||
Available-for-sale Securities | |||||||||||||||||
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flow. Such securities are classified within Level 2 of the valuation hierarchy. | |||||||||||||||||
Nonrecurring Measurements | |||||||||||||||||
The following table presents fair value measurements of assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy in which fair value measurements fall at December 31, 2014 and June 30, 2014: | |||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Fair | Markets for | Other | Significant | ||||||||||||||
Value | Identical | Observable | Unobservable | ||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
(In thousands) | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Impaired loans - residential | |||||||||||||||||
One-to-four family owner occupied | $ | 283 | $ | - | $ | - | $ | 283 | |||||||||
One-to-four family non-owner occupied | 132 | - | - | 132 | |||||||||||||
30-Jun-14 | |||||||||||||||||
Impaired loans - residential | |||||||||||||||||
One-to-four family owner occupied | $ | 459 | $ | - | $ | - | $ | 459 | |||||||||
One-to-four family non-owner occupied | 134 | - | - | 134 | |||||||||||||
Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. | |||||||||||||||||
Impaired Loans (Collateral Dependent) | |||||||||||||||||
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 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. 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. | |||||||||||||||||
Appraisals for collateral-dependent impaired loans 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 Bank. Once received, a member of 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. | |||||||||||||||||
Unobservable (Level 3) Inputs | |||||||||||||||||
The following table presents quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements: | |||||||||||||||||
Fair Value at | Range | ||||||||||||||||
December 31, | (Weighted) | ||||||||||||||||
2014 | Valuation Technique | Unobservable Inputs | Average) | ||||||||||||||
(In thousands) | |||||||||||||||||
Impaired loans (collateral dependent) - one-to-four family owner occupied residential real estate | $ | 283 | Sales comparison approach | Adjustment for differences between the comparable real estate sales | (18)%-24% | ||||||||||||
4% | |||||||||||||||||
Impaired loans (collateral dependent) - one-to-four family non-owner occupied residential real estate | $ | 132 | Sales comparison approach | Adjustment for differences between the comparable real estate sales | (3)%-(19)% | ||||||||||||
-12% | |||||||||||||||||
Range | |||||||||||||||||
Fair Value at | (Weighted) | ||||||||||||||||
June 30, 2014 | Valuation Technique | Unobservable Inputs | Average) | ||||||||||||||
(In thousands) | |||||||||||||||||
Impaired loans (collateral dependent) - one-to-four family owner occupied residential real estate | $ | 459 | Sales comparison approach | Adjustment for differences between the comparable real estate sales | (19)%-24% | ||||||||||||
2% | |||||||||||||||||
Impaired loans (collateral dependent) - one-to-four family non-owner occupied residential real estate | $ | 134 | Sales comparison approach | Adjustment for differences between the comparable real estate sales | (24)%-(10)% | ||||||||||||
-11% | |||||||||||||||||
Impaired loans that are measured for impairment using the fair value of the collateral for collateral dependent loans had a recorded principal balance of $646,000 and $892,000 with a valuation allowance of $230,000 and $299,000 at December 31, 2014 and June 30, 2014, respectively. These impaired loans required an increase (decrease) to the allowance for loan losses of $(35,000) and $74,000 for the three month periods ended December 31, 2014 and 2013, respectively. These impaired loans required an increase (decrease) to the allowance for loan losses of $(58,000) and $254,000 for the six month periods ended December 31, 2014 and 2013, respectively. | |||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
The following table presents the carrying amount and estimated fair values of the Bank’s financial instruments not carried at fair value and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and June 30, 2014. | |||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Carrying | Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
(In thousands) | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 2,710 | $ | 2,710 | $ | - | $ | - | $ | 2,710 | |||||||
Interest-bearing time deposits | 3,100 | - | 3,100 | - | 3,100 | ||||||||||||
Held-to-maturity securities | 1,973 | - | 1,902 | - | 1,902 | ||||||||||||
Loans | 77,748 | - | - | 79,110 | 79,110 | ||||||||||||
Federal Home Loan Bank stock | 1,164 | n/a | n/a | n/a | n/a | ||||||||||||
Accrued interest receivable | 198 | - | 80 | 118 | 198 | ||||||||||||
Financial liabilities | |||||||||||||||||
Deposits | 59,935 | - | 60,114 | - | 60,114 | ||||||||||||
Federal Home Loan Bank advances | 19,128 | - | 18,611 | - | 18,611 | ||||||||||||
Stock subscription proceeds in escrow | 6,658 | 6,658 | - | - | 6,658 | ||||||||||||
Accrued interest payable | 28 | - | 28 | - | 28 | ||||||||||||
30-Jun-14 | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 4,470 | $ | 4,470 | $ | - | $ | - | $ | 4,470 | |||||||
Interest-bearing time deposits | 3,998 | - | 1,756 | 2,248 | 4,004 | ||||||||||||
Held-to-maturity securities | 2,374 | - | 2,326 | - | 2,326 | ||||||||||||
Loans | 67,284 | - | - | 68,619 | 68,619 | ||||||||||||
Federal Home Loan Bank stock | 1,164 | n/a | n/a | n/a | n/a | ||||||||||||
Accrued interest receivable | 187 | - | 31 | 156 | 187 | ||||||||||||
Financial liabilities | |||||||||||||||||
Deposits | 60,710 | - | 60,775 | - | 60,775 | ||||||||||||
Federal Home Loan Bank advances | 17,333 | - | 17,081 | - | 17,081 | ||||||||||||
Accrued interest payable | 23 | - | 23 | - | 23 | ||||||||||||
The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value. | |||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
The carrying amount of cash and short-term instruments approximate fair value and are classified as Level 1. | |||||||||||||||||
Held-to-Maturity Securities | |||||||||||||||||
The fair value of held-to-maturity securities was estimated by using pricing models that contain market pricing and information, quoted prices of securities with similar characteristics or discounted cash flows that use credit-adjusted discount rates resulting in a Level 2 classification. | |||||||||||||||||
Loans | |||||||||||||||||
Fair values of loans are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value of collateral as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | |||||||||||||||||
Federal Home Loan Bank Stock | |||||||||||||||||
It is not practicable to determine the fair value of FHLB stock due to restrictions placed on its transferability. | |||||||||||||||||
Accrued Interest Receivable and Payable | |||||||||||||||||
The carrying amounts of accrued interest approximate fair value resulting in a Level 2 or Level 3 classification. | |||||||||||||||||
Deposits | |||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 2 classification. The carrying amounts of variable rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. | |||||||||||||||||
Federal Home Loan Bank Advances | |||||||||||||||||
The fair values of FHLB advances are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. | |||||||||||||||||
Stock Subscription Proceeds in Escrow | |||||||||||||||||
The carrying amounts of stock subscription proceeds in escrow approximate fair value resulting in a Level 1 classification. | |||||||||||||||||
Off Balance Sheet Instruments | |||||||||||||||||
Fair values for off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material. | |||||||||||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||
Accumulated Other Comprehensive Income (Loss) | Note 6: | Accumulated Other Comprehensive Income (Loss) | |||||||||
Changes in accumulated other comprehensive income (loss) by component, net of tax, for the three and six months ended December 31, 2014 and 2013 are as follows: | |||||||||||
Unrealized | |||||||||||
Unrealized | gains and losses | ||||||||||
Gains and Losses | on securities | ||||||||||
on Available | transferred from | ||||||||||
for Sale | Available for Sale to | ||||||||||
Three Months Ended December 31, 2014 | Securities | Held to Maturity | Total | ||||||||
(In thousands) | |||||||||||
Balance, October 1, 2014 | $ | -85 | $ | -24 | $ | -109 | |||||
Other comprehensive income | 23 | - | 23 | ||||||||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | - | 2 | 2 | ||||||||
Net current period other comprehensive income | 23 | 2 | 25 | ||||||||
Balance, December 31, 2014 | $ | -62 | $ | -22 | $ | -84 | |||||
Six Months Ended December 31, 2014 | |||||||||||
Balance, July 1, 2014 | $ | -67 | $ | -26 | $ | -93 | |||||
Other comprehensive income | 5 | - | 5 | ||||||||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | - | 4 | 4 | ||||||||
Net current period other comprehensive income | 5 | 4 | 9 | ||||||||
Balance, December 31, 2014 | $ | -62 | $ | -22 | $ | -84 | |||||
Unrealized | |||||||||||
Unrealized | gains and losses | ||||||||||
Gains and Losses | on securities | ||||||||||
on Available | transferred from | ||||||||||
for Sale | Available for Sale to | ||||||||||
Three Months Ended December 31, 2013 | Securities | Held to Maturity | Total | ||||||||
(In thousands) | |||||||||||
Balance, October 1, 2013 | $ | -96 | $ | -29 | $ | -125 | |||||
Other comprehensive loss | -38 | - | -38 | ||||||||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | - | 2 | 2 | ||||||||
Net current period other comprehensive income (loss) | -38 | 2 | -36 | ||||||||
Balance, December 31, 2013 | $ | -134 | $ | -27 | $ | -161 | |||||
Six Months Ended December 31, 2013 | |||||||||||
Balance, July 1, 2013 | $ | -124 | $ | - | $ | -124 | |||||
Other comprehensive loss, net of tax | -10 | - | -10 | ||||||||
Transfer of securities from available for sale | |||||||||||
to held to maturity | - | -31 | -31 | ||||||||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | - | 4 | 4 | ||||||||
Net current period other comprehensive loss | -10 | -27 | -37 | ||||||||
Balance, December 31, 2013 | $ | -134 | $ | -27 | $ | -161 | |||||
There were no material items reclassified from accumulated other comprehensive income (loss) to the statement of operations for the three and six month periods ended December 31, 2014 and 2013. | |||||||||||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 6 Months Ended | ||
Dec. 31, 2014 | |||
Accounting Changes and Error Corrections [Abstract] | |||
Recent Accounting Pronouncements | Note 7: | Recent Accounting Pronouncements | |
FASB ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40), Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, a consensus of the FASB Emerging Issues Task Force, in Accounting Standards Update No. 2014-04, issued in January 2014. The amendments in this update provides clarification on when an in-substance repossession or foreclosure occurs, including when a creditor should be considered to have received physical possession of the residential real estate property collateralizing a consumer mortgage loan, when to derecognize the loan and recognize the foreclosed property. The amendments in this update are effective for public business entities for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this update using either a modified retrospective transition method or a prospective transition method. This standard is not expected to have a material impact on the Bank’s financial statements. | |||
FASB ASU 2014-09, Revenue from Contracts with Customers. In May 2014, the FASB issued amended guidance on revenue recognition from contracts with customers. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most contract revenue recognition guidance, including industry-specific guidance. The core principle of the amended guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amended guidance is effective for annual reporting periods beginning after December 15, 2016, and interim periods within the reporting period, and should be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the amendments recognized at the date of initial application. Early adoption is prohibited. Management is currently in the process of evaluating the impact of the amended guidance on the Bank’s financial statements. | |||
FASB ASU 2014-11, Transfers and Servicing (Topic 860), Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, was issued in June 2014. The amendments in this Update require disclosures for certain transactions comprising a transfer of a financial asset accounted for as a sale and an agreement with the same transferee entered into in contemplation of the initial transfer that results in the transferor retaining substantially all of the exposure to the economic return on the transferred financial asset throughout the term of the transaction. This Update also requires certain disclosures for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions that are accounted for as secured borrowings. The accounting changes in this Update are effective for public business entities for the first interim or annual period beginning after December 15, 2014. For public business entities, the disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual periods beginning after December 15, 2014, and for disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The disclosures are not required to be presented for comparative periods before the effective date. This standard is not expected to have a material impact on the Bank’s financial statements. | |||
Plan_of_Conversion_and_Change_
Plan of Conversion and Change in Corporate Form | 6 Months Ended | |
Dec. 31, 2014 | ||
Plan of Conversion and Change in Corporate Form [Abstract] | ||
Plan of Conversion and Change in Corporate Form | Note 8: | Plan of Conversion and Change in Corporate Form |
On August 28, 2014, the Board of Directors of the Bank adopted a plan of conversion (Plan). The Plan was approved by the Federal Deposit Insurance Corporation and the Ohio Division of Financial Institutions and by an affirmative vote of at least a majority of the total votes eligible to be cast by the voting members of the Bank at a special meeting held on December 22, 2014. The Plan set forth that the Bank proposed to convert into a stock savings bank structure with the establishment of a stock holding company (MW Bancorp, Inc.), as parent of the Bank. | ||
The Bank will convert to the stock form of ownership, followed by the issuance of all of the Bank’s outstanding stock to MW Bancorp, Inc. Pursuant to the Plan, the Bank determined the total offering value and number of shares of common stock based upon an independent appraiser’s valuation. The stock was priced at $10.00 per share. In addition, the Bank’s Board of Directors adopted an employee stock ownership plan (ESOP) which subscribed for 8% of the common stock sold in the offering. The offering of common shares in MW Bancorp, Inc. was conducted in December 2014 and shares were issued in January 2015. Cash proceeds from the sale of shares totaled $6.7 million and were held in escrow by the Bank as of December 31, 2014, pending final approval of the conversion by regulatory authorities. MW Bancorp, Inc. is organized as a corporation under the laws of the State of Maryland and will own all of the outstanding common stock of the Bank upon completion of the conversion. | ||
The costs of issuing the common stock were deferred and upon receipt of approval of the conversion by the Bank’s regulatory authorities in January 2015, were deducted from the sales proceeds of the offering. Conversion costs totaling $902,000 and $114,000 at December 31, 2014 and June 30, 2014, respectively, were carried as deferred assets at those respective dates. During fiscal 2014, the Bank experienced a delay of greater than 90 days in its conversion process and, accordingly, charged off accumulated net deferred conversion costs totaling $90,000 in the quarter ended June 30, 2014. | ||
At the completion of the conversion to stock form, the Bank established a liquidation account in the amount of retained earnings contained in the final prospectus. The liquidation account will be maintained for the benefits of eligible savings account holders who maintain deposit accounts in the Bank after conversion. | ||
The conversion will be accounted for as a change in corporate form with the historic basis of the Bank’s assets, liabilities and equity unchanged as a result. MW Bancorp, Inc. has filed its initial registration statement on Form S-1, as amended, which was declared effective by the SEC on November 12, 2014. The conversion was completed effective January 29, 2015. The Company issued 876,163 shares at an offering price of $10.00 per share. | ||
Basis_of_Presentation_Summary_
Basis of Presentation - Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of deferred tax assets and fair values of financial instruments. | |
Reclassifications | Reclassifications |
Certain reclassifications have been made to the June 30, 2014 financial statements to conform to the December 31, 2014 financial statement presentation. These reclassifications had no effect on results of operations or equity. | |
Securities_Tables
Securities (Tables) | 6 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||
Marketable Securities | The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows: | |||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Available-for-sale Securities: | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential | $ | 4,300 | $ | 32 | $ | -7 | $ | 4,325 | ||||||||||||
30-Jun-14 | ||||||||||||||||||||
U. S. Government agency bonds | $ | 500 | $ | 2 | $ | - | $ | 502 | ||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential | 4,896 | 22 | -4 | 4,914 | ||||||||||||||||
$ | 5,396 | $ | 24 | $ | -4 | $ | 5,416 | |||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Held-to-maturity Securities: | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential | $ | 1,973 | $ | 31 | $ | -102 | $ | 1,902 | ||||||||||||
30-Jun-14 | ||||||||||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential | $ | 2,374 | $ | - | $ | -48 | $ | 2,326 | ||||||||||||
Schedule Of Securities Without Single Maturity Date | Securities not due at a single maturity date are shown separately. | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Available-for-sale | Held-to-maturity | |||||||||||||||||||
Amortized | Fair | Amortized | Fair | |||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Mortgage-backed securities of U.S. government sponsored entities - residential - not due at a single maturity date | $ | 4,300 | $ | 4,325 | $ | 1,973 | $ | 1,902 | ||||||||||||
Schedule of Unrealized Loss on Investments | The following tables show the Bank’s investments’ gross unrealized losses and fair value of the Bank’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2014 and June 30, 2014: | |||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Description of Securities | Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(In thousands) | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Available-for-sale Securities: | ||||||||||||||||||||
Mortgage-backed securities of U.S. sponsored entities - residential | $ | - | $ | - | $ | 2,006 | $ | -7 | $ | 2,006 | $ | -7 | ||||||||
Held-to-maturity Securities: | ||||||||||||||||||||
Mortgage-backed securities - of U.S. sponsored entities - residential | - | - | 1,408 | -102 | 1,408 | -102 | ||||||||||||||
$ | - | $ | - | $ | 3,414 | $ | -109 | $ | 3,414 | $ | -109 | |||||||||
30-Jun-14 | ||||||||||||||||||||
Available-for-sale Securities: | ||||||||||||||||||||
Mortgage-backed securities of U.S. sponsored entities - residential | $ | 1,365 | $ | -4 | $ | - | $ | - | $ | 1,365 | $ | -4 | ||||||||
Held-to-maturity Securities: | ||||||||||||||||||||
Mortgage-backed securities - of U.S. sponsored entities - residential | 2,326 | -48 | - | - | 2,326 | -48 | ||||||||||||||
$ | 3,691 | $ | -52 | $ | - | $ | - | $ | 3,691 | $ | -52 | |||||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans at December 31, 2014 and June 30, 2014 include: | ||||||||||||||||||||||||||||
December 31, | June 30, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||||||||
One- to four-family residential | $ | 60,623 | $ | 54,069 | |||||||||||||||||||||||||
Multi-family residential | 4,309 | 2,124 | |||||||||||||||||||||||||||
Commercial | 11,807 | 8,998 | |||||||||||||||||||||||||||
Construction | 1,439 | 2,796 | |||||||||||||||||||||||||||
Consumer and other | 1,118 | 812 | |||||||||||||||||||||||||||
Total loans | 79,296 | 68,799 | |||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Net deferred loan costs | -25 | -22 | |||||||||||||||||||||||||||
Allowance for loan losses | 1,573 | 1,537 | |||||||||||||||||||||||||||
Net loans | $ | 77,748 | $ | 67,284 | |||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables | Real Estate | ||||||||||||||||||||||||||||
1-4 Family | 1-4 Family | ||||||||||||||||||||||||||||
Owner | Non-Owner | Multi- | |||||||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Three Months Ended December 31, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance, October 1, 2014 | $ | 1,089 | $ | 267 | $ | 23 | $ | 98 | $ | 62 | 12 | $ | 1,551 | ||||||||||||||||
Provision for loan losses | 11 | 15 | -21 | 47 | -23 | -14 | 15 | ||||||||||||||||||||||
Charge-offs | - | - | - | - | - | - | - | ||||||||||||||||||||||
Recoveries | 5 | - | - | - | - | 2 | 7 | ||||||||||||||||||||||
Balance, December 31, 2014 | $ | 1,105 | $ | 282 | $ | 2 | $ | 145 | # | $ | 39 | $ | - | $ | 1,573 | ||||||||||||||
Six Months Ended December 31, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance, July 1, 2014 | $ | 1,065 | $ | 278 | $ | 33 | $ | 105 | $ | 56 | $ | - | $ | 1,537 | |||||||||||||||
Provision for loan losses | 37 | 4 | -31 | 40 | -17 | -3 | 30 | ||||||||||||||||||||||
Charge-offs | -3 | - | - | - | - | - | -3 | ||||||||||||||||||||||
Recoveries | 6 | - | - | - | - | 3 | 9 | ||||||||||||||||||||||
Balance, December 31, 2014 | $ | 1,105 | $ | 282 | $ | 2 | $ | 145 | $ | 39 | $ | - | $ | 1,573 | |||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
1-4 Family | 1-4 Family | ||||||||||||||||||||||||||||
Owner | Non-Owner | Multi- | |||||||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Three Months Ended December 31, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance, October 1, 2013 | $ | 995 | $ | 298 | $ | 19 | $ | 110 | $ | 4 | 4 | $ | 1,430 | ||||||||||||||||
Provision for loan losses | 151 | 11 | -3 | 16 | 25 | - | 200 | ||||||||||||||||||||||
Charge-offs | -54 | - | - | - | - | - | -54 | ||||||||||||||||||||||
Recoveries | 1 | - | - | - | - | 1 | 2 | ||||||||||||||||||||||
Balance, December 31, 2013 | $ | 1,093 | $ | 309 | $ | 16 | $ | 126 | $ | 29 | $ | 5 | $ | 1,578 | |||||||||||||||
Six Months Ended December 31, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance, July 1, 2013 | $ | 1,008 | $ | 273 | $ | 19 | $ | 77 | $ | 15 | $ | 6 | $ | 1,398 | |||||||||||||||
Provision for loan losses | 136 | 36 | -3 | 49 | 14 | -2 | 230 | ||||||||||||||||||||||
Charge-offs | -54 | - | - | - | - | - | -54 | ||||||||||||||||||||||
Recoveries | 3 | - | - | - | - | 1 | 4 | ||||||||||||||||||||||
Balance, December 31, 2013 | $ | 1,093 | $ | 309 | $ | 16 | $ | 126 | $ | 29 | $ | 5 | $ | 1,578 | |||||||||||||||
Schedule Of Portfolio Segment Recorded Investment In Loans and Impairment Method | |||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
1-4 Family | 1-4 Family | ||||||||||||||||||||||||||||
Owner | Non-Owner | Multi- | |||||||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 153 | $ | 96 | $ | - | $ | - | $ | - | $ | - | $ | 249 | |||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 952 | $ | 186 | $ | 2 | $ | 145 | $ | 39 | $ | - | $ | 1,324 | |||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 50,781 | $ | 9,842 | $ | 4,309 | $ | 11,807 | $ | 1,439 | $ | 1,118 | $ | 79,296 | |||||||||||||||
Ending balance; individually evaluated for impairment | $ | 1,776 | $ | 304 | $ | - | $ | - | $ | - | $ | - | $ | 2,080 | |||||||||||||||
Ending balance; collectively evaluated for impairment | $ | 49,005 | $ | 9,538 | $ | 4,309 | $ | 11,807 | $ | 1,439 | $ | 1,118 | $ | 77,216 | |||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 205 | $ | 114 | $ | - | $ | - | $ | - | $ | - | $ | 319 | |||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 860 | $ | 164 | $ | 33 | $ | 105 | $ | 56 | $ | - | $ | 1,218 | |||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 45,255 | $ | 8,814 | $ | 2,124 | $ | 8,998 | $ | 2,796 | $ | 812 | $ | 68,799 | |||||||||||||||
Ending balance; individually evaluated for impairment | $ | 1,810 | $ | 340 | $ | - | $ | 159 | $ | - | $ | - | $ | 2,309 | |||||||||||||||
Ending balance; collectively evaluated for impairment | $ | 43,445 | $ | 8,474 | $ | 2,124 | $ | 8,839 | $ | 2,796 | $ | 812 | $ | 66,490 | |||||||||||||||
Financing Receivable Credit Quality Indicators | The following tables present the credit risk profile of the Bank’s loan portfolio based on internal rating category and payment activity as of December 31, 2014 and June 30, 2014. | ||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
1-4 Family | 1-4 Family | ||||||||||||||||||||||||||||
Owner | Non-Owner | Multi- | |||||||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Pass | $ | 49,758 | $ | 9,538 | $ | 4,309 | $ | 11,807 | $ | 1,439 | $ | 1,118 | $ | 77,969 | |||||||||||||||
Special mention | - | - | - | - | - | - | - | ||||||||||||||||||||||
Substandard | 1,023 | 304 | - | - | - | - | 1,327 | ||||||||||||||||||||||
Doubtful | - | - | - | - | - | - | - | ||||||||||||||||||||||
Total | $ | 50,781 | $ | 9,842 | $ | 4,309 | $ | 11,807 | $ | 1,439 | $ | 1,118 | $ | 79,296 | |||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
1-4 Family | 1-4 Family | ||||||||||||||||||||||||||||
Owner | Non-Owner | Multi- | |||||||||||||||||||||||||||
Occupied | Occupied | family | Commercial | Construction | Consumer | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Pass | $ | 43,724 | $ | 8,434 | $ | 2,124 | $ | 8,998 | $ | 2,796 | $ | 812 | $ | 66,888 | |||||||||||||||
Special mention | - | - | - | - | - | - | - | ||||||||||||||||||||||
Substandard | 1,531 | 380 | - | - | - | - | 1,911 | ||||||||||||||||||||||
Doubtful | - | - | - | - | - | - | - | ||||||||||||||||||||||
Total | $ | 45,255 | $ | 8,814 | $ | 2,124 | $ | 8,998 | $ | 2,796 | $ | 812 | $ | 68,799 | |||||||||||||||
Past Due Financing Receivables | The following tables present the Bank’s loan portfolio aging analysis of the recorded investment in loans as of December 31, 2014 and June 30, 2014: | ||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Total Loans > | |||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | Greater Than | Total | Total Loans | 90 Days & | ||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Current | Receivable | Accruing | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | $ | 212 | $ | - | $ | - | $ | 212 | $ | 50,569 | $ | 50,781 | $ | - | |||||||||||||||
1-4 family non-owner occupied | 103 | - | - | 103 | 9,739 | 9,842 | - | ||||||||||||||||||||||
Multi-family residential | - | - | - | - | 4,309 | 4,309 | - | ||||||||||||||||||||||
Commercial | - | - | - | - | 11,807 | 11,807 | - | ||||||||||||||||||||||
Construction | - | - | - | - | 1,439 | 1,439 | - | ||||||||||||||||||||||
Consumer and other | - | - | - | - | 1,118 | 1,118 | - | ||||||||||||||||||||||
Total | $ | 315 | $ | - | $ | - | $ | 315 | $ | 78,981 | $ | 79,296 | $ | - | |||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Total Loans > | |||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | Greater Than | Total | Total Loans | 90 Days & | ||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Current | Receivable | Accruing | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | $ | 430 | $ | - | $ | 402 | $ | 832 | $ | 44,423 | $ | 45,255 | $ | - | |||||||||||||||
1-4 family non-owner occupied | - | - | - | - | 8,814 | 8,814 | - | ||||||||||||||||||||||
Multi-family residential | - | - | - | - | 2,124 | 2,124 | - | ||||||||||||||||||||||
Commercial | - | - | - | - | 8,998 | 8,998 | - | ||||||||||||||||||||||
Construction | - | - | - | - | 2,796 | 2,796 | - | ||||||||||||||||||||||
Consumer and other | - | - | - | - | 812 | 812 | - | ||||||||||||||||||||||
Total | $ | 430 | $ | - | $ | 402 | $ | 832 | $ | 67,967 | $ | 68,799 | $ | - | |||||||||||||||
Impaired Financing Receivables | The following table presents impaired loan information as of and for the three and six months ended December 31, 2014: | ||||||||||||||||||||||||||||
For the Three Months Ended | For the Six Months Ended | ||||||||||||||||||||||||||||
As of December 31, 2014 | December 31, 2014 | December 31, 2014 | |||||||||||||||||||||||||||
Allowance | |||||||||||||||||||||||||||||
Unpaid | for Loan | Average | Interest | Average | Interest | ||||||||||||||||||||||||
Recorded | Principal | Losses | Recorded | Income | Recorded | Income | |||||||||||||||||||||||
Investment | Balance | Allocated | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | $ | 1,124 | $ | 1,267 | $ | - | $ | 1,110 | $ | - | 1,116 | $ | - | ||||||||||||||||
1-4 family non-owner occupied | 76 | 90 | - | 76 | - | 77 | - | ||||||||||||||||||||||
Multi-family residential | - | - | - | - | - | - | - | ||||||||||||||||||||||
Commercial | - | - | - | - | - | - | - | ||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | ||||||||||||||||||||||
Consumer and other | - | - | - | - | - | ||||||||||||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | 652 | 726 | 153 | 656 | - | 661 | - | ||||||||||||||||||||||
1-4 family non-owner occupied | 228 | 260 | 96 | 230 | - | 230 | - | ||||||||||||||||||||||
Multi-family residential | - | - | - | - | - | - | - | ||||||||||||||||||||||
Commercial | - | - | - | - | - | - | - | ||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | ||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | ||||||||||||||||||||||
Totals | $ | 2,080 | $ | 2,343 | $ | 249 | $ | 2,072 | $ | - | $ | 2,084 | $ | - | |||||||||||||||
The following table presents impaired loan information as of June 30, 2014 and for the three and six months ended December 31, 2013: | |||||||||||||||||||||||||||||
For the Three Months Ended | For the Six Months Ended | ||||||||||||||||||||||||||||
As of June 30, 2014 | December 31, 2013 | December 31, 2013 | |||||||||||||||||||||||||||
Allowance | |||||||||||||||||||||||||||||
Unpaid | for Loan | Average | Interest | Average | Interest | ||||||||||||||||||||||||
Recorded | Principal | Losses | Recorded | Income | Recorded | Income | |||||||||||||||||||||||
Investment | Balance | Allocated | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | $ | 918 | $ | 1,003 | $ | - | $ | 930 | $ | - | $ | 937 | $ | - | |||||||||||||||
1-4 family non-owner occupied | 102 | 114 | - | 312 | - | 315 | - | ||||||||||||||||||||||
Multi-family residential | - | - | - | - | - | - | - | ||||||||||||||||||||||
Commercial | 159 | 159 | - | 53 | - | 53 | - | ||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | ||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | ||||||||||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | 892 | 905 | 205 | 1,364 | - | 1,377 | - | ||||||||||||||||||||||
1-4 family non-owner occupied | 238 | 263 | 114 | 84 | - | 85 | - | ||||||||||||||||||||||
Multi-family residential | - | - | - | - | - | - | - | ||||||||||||||||||||||
Commercial | - | - | - | 178 | - | 179 | - | ||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | ||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | ||||||||||||||||||||||
Totals | $ | 2,309 | $ | 2,444 | $ | 319 | $ | 2,921 | $ | - | $ | 2,946 | $ | - | |||||||||||||||
Schedule of Financing Receivables, Non Accrual Status | The following table presents the Bank’s nonaccrual loans at December 31, 2014 and June 30, 2014. The table excludes performing troubled debt restructurings. | ||||||||||||||||||||||||||||
December 31, | June 30, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | $ | 905 | $ | 1,099 | |||||||||||||||||||||||||
1-4 family non-owner occupied | 304 | 340 | |||||||||||||||||||||||||||
Multi-family residential | - | - | |||||||||||||||||||||||||||
Commercial | - | - | |||||||||||||||||||||||||||
Construction | - | - | |||||||||||||||||||||||||||
Consumer and other | - | - | |||||||||||||||||||||||||||
Total nonaccrual | $ | 1,209 | $ | 1,439 | |||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables | The following table presents information regarding troubled debt restructurings by class for the three and six months ended December 31, 2013. Newly classified troubled debt restructurings were as follows: | ||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Number of Loans | Investment | Investment | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | 1 | $ | 190 | $ | 190 | ||||||||||||||||||||||||
Schedule of Debtor Troubled Debt Restructuring, Subsequent Periods | Newly restructured loans by type of modification are as follows for the three and six months ended December 31, 2013. | ||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Interest Only | Term | Combination | Modification | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
1-4 family owner-occupied | $ | 190 | $ | - | $ | - | $ | 190 | |||||||||||||||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 6 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Banking and Thrift [Abstract] | ||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | The Bank’s actual capital amounts and ratios are presented in the following table: | |||||||||||||||||||
To Be Well Capitalized | ||||||||||||||||||||
For Capital Adequacy | Under Prompt Corrective | |||||||||||||||||||
Actual | Purposes | Action Provisions | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||
Total Capital (to Risk-Weighted Assets) | $ | 9,672 | 17.6 | % | $ | 4,394 | 8 | % | $ | 5,492 | 10 | % | ||||||||
Tier I Capital (to Risk-Weighted Assets) | $ | 9,001 | 16.4 | % | $ | 2,197 | 4 | % | $ | 3,295 | 6 | % | ||||||||
Tier I Capital (to Total Assets) | $ | 9,001 | 9.3 | % | $ | 3,859 | 4 | % | $ | 4,823 | 5 | % | ||||||||
As of June 30, 2014 | ||||||||||||||||||||
Total Capital (to Risk-Weighted Assets) | $ | 9,511 | 20.6 | % | $ | 3,699 | 8 | % | $ | 4,623 | 10 | % | ||||||||
Tier I Capital (to Risk-Weighted Assets) | $ | 8,922 | 19.3 | % | $ | 1,849 | 4 | % | $ | 2,774 | 6 | % | ||||||||
Tier I Capital (to Total Assets) | $ | 8,922 | 10 | % | $ | 3,565 | 4 | % | $ | 4,456 | 5 | % | ||||||||
Disclosures_about_Fair_Value_o1
Disclosures about Fair Value of Assets and Liabilities (Tables) | 6 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the fair value measurement of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and June 30, 2014: | ||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Fair | Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
(In thousands) | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Mortgage-backed securities of U.S. of government sponsored entities – residential | $ | 4,325 | $ | - | $ | 4,325 | $ | - | |||||||||
30-Jun-14 | |||||||||||||||||
U. S. Government agency bonds | $ | 502 | $ | - | $ | 502 | $ | - | |||||||||
Mortgage-backed securities of U.S. of government sponsored entities - residential | 4,914 | - | 4,914 | - | |||||||||||||
$ | 5,416 | $ | - | $ | 5,416 | $ | - | ||||||||||
Fair Value Measurements, Nonrecurring | The following table presents fair value measurements of assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy in which fair value measurements fall at December 31, 2014 and June 30, 2014: | ||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Fair | Markets for | Other | Significant | ||||||||||||||
Value | Identical | Observable | Unobservable | ||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
(In thousands) | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Impaired loans - residential | |||||||||||||||||
One-to-four family owner occupied | $ | 283 | $ | - | $ | - | $ | 283 | |||||||||
One-to-four family non-owner occupied | 132 | - | - | 132 | |||||||||||||
30-Jun-14 | |||||||||||||||||
Impaired loans - residential | |||||||||||||||||
One-to-four family owner occupied | $ | 459 | $ | - | $ | - | $ | 459 | |||||||||
One-to-four family non-owner occupied | 134 | - | - | 134 | |||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | The following table presents quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements: | ||||||||||||||||
Fair Value at | Range | ||||||||||||||||
December 31, | (Weighted) | ||||||||||||||||
2014 | Valuation Technique | Unobservable Inputs | Average) | ||||||||||||||
(In thousands) | |||||||||||||||||
Impaired loans (collateral dependent) - one-to-four family owner occupied residential real estate | $ | 283 | Sales comparison approach | Adjustment for differences between the comparable real estate sales | (18)%-24% | ||||||||||||
4% | |||||||||||||||||
Impaired loans (collateral dependent) - one-to-four family non-owner occupied residential real estate | $ | 132 | Sales comparison approach | Adjustment for differences between the comparable real estate sales | (3)%-(19)% | ||||||||||||
-12% | |||||||||||||||||
Range | |||||||||||||||||
Fair Value at | (Weighted) | ||||||||||||||||
June 30, 2014 | Valuation Technique | Unobservable Inputs | Average) | ||||||||||||||
(In thousands) | |||||||||||||||||
Impaired loans (collateral dependent) - one-to-four family owner occupied residential real estate | $ | 459 | Sales comparison approach | Adjustment for differences between the comparable real estate sales | (19)%-24% | ||||||||||||
2% | |||||||||||||||||
Impaired loans (collateral dependent) - one-to-four family non-owner occupied residential real estate | $ | 134 | Sales comparison approach | Adjustment for differences between the comparable real estate sales | (24)%-(10)% | ||||||||||||
-11% | |||||||||||||||||
Fair Value, by Balance Sheet Grouping | The following table presents the carrying amount and estimated fair values of the Bank’s financial instruments not carried at fair value and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and June 30, 2014. | ||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Carrying | Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||||||
(In thousands) | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 2,710 | $ | 2,710 | $ | - | $ | - | $ | 2,710 | |||||||
Interest-bearing time deposits | 3,100 | - | 3,100 | - | 3,100 | ||||||||||||
Held-to-maturity securities | 1,973 | - | 1,902 | - | 1,902 | ||||||||||||
Loans | 77,748 | - | - | 79,110 | 79,110 | ||||||||||||
Federal Home Loan Bank stock | 1,164 | n/a | n/a | n/a | n/a | ||||||||||||
Accrued interest receivable | 198 | - | 80 | 118 | 198 | ||||||||||||
Financial liabilities | |||||||||||||||||
Deposits | 59,935 | - | 60,114 | - | 60,114 | ||||||||||||
Federal Home Loan Bank advances | 19,128 | - | 18,611 | - | 18,611 | ||||||||||||
Stock subscription proceeds in escrow | 6,658 | 6,658 | - | - | 6,658 | ||||||||||||
Accrued interest payable | 28 | - | 28 | - | 28 | ||||||||||||
30-Jun-14 | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 4,470 | $ | 4,470 | $ | - | $ | - | $ | 4,470 | |||||||
Interest-bearing time deposits | 3,998 | - | 1,756 | 2,248 | 4,004 | ||||||||||||
Held-to-maturity securities | 2,374 | - | 2,326 | - | 2,326 | ||||||||||||
Loans | 67,284 | - | - | 68,619 | 68,619 | ||||||||||||
Federal Home Loan Bank stock | 1,164 | n/a | n/a | n/a | n/a | ||||||||||||
Accrued interest receivable | 187 | - | 31 | 156 | 187 | ||||||||||||
Financial liabilities | |||||||||||||||||
Deposits | 60,710 | - | 60,775 | - | 60,775 | ||||||||||||
Federal Home Loan Bank advances | 17,333 | - | 17,081 | - | 17,081 | ||||||||||||
Accrued interest payable | 23 | - | 23 | - | 23 | ||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | Changes in accumulated other comprehensive income (loss) by component, net of tax, for the three and six months ended December 31, 2014 and 2013 are as follows: | ||||||||||
Unrealized | |||||||||||
Unrealized | gains and losses | ||||||||||
Gains and Losses | on securities | ||||||||||
on Available | transferred from | ||||||||||
for Sale | Available for Sale to | ||||||||||
Three Months Ended December 31, 2014 | Securities | Held to Maturity | Total | ||||||||
(In thousands) | |||||||||||
Balance, October 1, 2014 | $ | -85 | $ | -24 | $ | -109 | |||||
Other comprehensive income | 23 | - | 23 | ||||||||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | - | 2 | 2 | ||||||||
Net current period other comprehensive income | 23 | 2 | 25 | ||||||||
Balance, December 31, 2014 | $ | -62 | $ | -22 | $ | -84 | |||||
Six Months Ended December 31, 2014 | |||||||||||
Balance, July 1, 2014 | $ | -67 | $ | -26 | $ | -93 | |||||
Other comprehensive income | 5 | - | 5 | ||||||||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | - | 4 | 4 | ||||||||
Net current period other comprehensive income | 5 | 4 | 9 | ||||||||
Balance, December 31, 2014 | $ | -62 | $ | -22 | $ | -84 | |||||
Unrealized | |||||||||||
Unrealized | gains and losses | ||||||||||
Gains and Losses | on securities | ||||||||||
on Available | transferred from | ||||||||||
for Sale | Available for Sale to | ||||||||||
Three Months Ended December 31, 2013 | Securities | Held to Maturity | Total | ||||||||
(In thousands) | |||||||||||
Balance, October 1, 2013 | $ | -96 | $ | -29 | $ | -125 | |||||
Other comprehensive loss | -38 | - | -38 | ||||||||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | - | 2 | 2 | ||||||||
Net current period other comprehensive income (loss) | -38 | 2 | -36 | ||||||||
Balance, December 31, 2013 | $ | -134 | $ | -27 | $ | -161 | |||||
Six Months Ended December 31, 2013 | |||||||||||
Balance, July 1, 2013 | $ | -124 | $ | - | $ | -124 | |||||
Other comprehensive loss, net of tax | -10 | - | -10 | ||||||||
Transfer of securities from available for sale | |||||||||||
to held to maturity | - | -31 | -31 | ||||||||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | - | 4 | 4 | ||||||||
Net current period other comprehensive loss | -10 | -27 | -37 | ||||||||
Balance, December 31, 2013 | $ | -134 | $ | -27 | $ | -161 | |||||
Basis_of_Presentation_Details_
Basis of Presentation (Details Textual) (USD $) | 6 Months Ended |
Dec. 31, 2014 | |
Stock Issued During Period, Shares, New Issues | 876,163 |
Share Price | $10 |
Securities_Details
Securities (Details) (USD $) | 12 Months Ended | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Available-for-sale Securities: | |||
Amortized Cost | $5,396 | ||
Gross Unrealized Gains | 24 | ||
Gross Unrealized Losses | -4 | ||
Fair Value | 5,416 | 4,325 | |
Held-to-maturity Securities: | |||
Amortized Cost | 2,925 | ||
Held-to-maturity Securities, Fair Value | 2,326 | 1,902 | 2,893 |
Mortgage Backed Securities Of U.S. Government Sponsored Entities [Member] | Residential [Member] | |||
Available-for-sale Securities: | |||
Amortized Cost | 4,896 | 4,300 | |
Gross Unrealized Gains | 22 | 32 | |
Gross Unrealized Losses | -4 | -7 | |
Fair Value | 4,914 | 4,325 | |
Held-to-maturity Securities: | |||
Amortized Cost | 2,374 | 1,973 | |
Gross Unrealized Gains | 0 | 31 | |
Gross Unrealized Losses | -48 | -102 | |
Held-to-maturity Securities, Fair Value | 2,326 | 1,902 | |
U. S. Government Agency Bonds [Member] | |||
Available-for-sale Securities: | |||
Amortized Cost | 500 | ||
Gross Unrealized Gains | 2 | ||
Gross Unrealized Losses | 0 | ||
Fair Value | $502 |
Securities_Details_1
Securities (Details 1) (Mortgage Backed Securities Of U.S. Government Sponsored Entities [Member], Residential [Member], USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Mortgage Backed Securities Of U.S. Government Sponsored Entities [Member] | Residential [Member] | |
Available-for-sale Securities, Debt Maturities Not Due At A Single Maturity Date [Abstract] | |
Available-for-sale Amortized Cost | $4,300 |
Available-for-sale Fair Value | 4,325 |
Held-to-maturity Securities, Debt Maturities Not Due At A Single Maturity Date [Abstract] | |
Held-to-maturity Amortized Cost | 1,973 |
Held-to-maturity Fair Value | $1,902 |
Securities_Details_2
Securities (Details 2) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Jun. 30, 2014 |
Marketable Securities Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 Months, Fair Value | $0 | $3,691 |
12 Months or Longer, Fair Value | 3,414 | 0 |
Fair Value | 3,414 | 3,691 |
Marketable Securities Continuous Unrealized Loss Position Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | 0 | -52 |
12 Months or Longer, Unrealized Losses | -109 | 0 |
Unrealized Losses | -109 | -52 |
Mortgage Backed Securities Of U.S. Government Sponsored Entities [Member] | Residential [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 Months, Fair Value | 0 | 1,365 |
12 Months or Longer, Fair Value | 2,006 | 0 |
Fair Value | 2,006 | 1,365 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | 0 | -4 |
12 Months or Longer, Unrealized Losses | -7 | 0 |
Unrealized Losses | -7 | -4 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 Months, Fair Value | 0 | 2,326 |
12 Months or Longer, Fair Value | 1,408 | 0 |
Fair Value | 1,408 | 2,326 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | 0 | -48 |
12 Months or Longer, Unrealized Losses | -102 | 0 |
Unrealized Losses | ($102) | ($48) |
Securities_Details_Textual
Securities (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | |
Schedule of Held-to-maturity Securities [Line Items] | |||||
Percentage Of Securities Holdings Description | At December 31, 2014 and June 30, 2014, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of the Banks equity. | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $2,925,000 | $2,925,000 | |||
Held-to-maturity Securities, Fair Value | 1,902,000 | 2,893,000 | 1,902,000 | 2,893,000 | 2,326,000 |
Other Comprehensive Income Loss, Transfers from Available for Sale Securities to Held to maturity before Tax | 0 | 0 | 0 | -31,000 | |
Other Comprehensive Income (Loss) Remaining Unamortized Balance Transfers From Available For Sale SecuritiesTo Held To Maturity Before Tax | 22,000 | ||||
Equity Method Investment, Net Sales Proceeds | $3,600,000 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses (Details) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans And Leases Receivable Gross Carrying Amount | $79,296 | $68,799 | ||||
Less: | ||||||
Net deferred loan costs | -25 | -22 | ||||
Allowance for loan losses | 1,573 | 1,551 | 1,537 | 1,578 | 1,430 | 1,398 |
Net loans | 77,748 | 67,284 | ||||
One-to-four-family residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans And Leases Receivable Gross Carrying Amount | 60,623 | 54,069 | ||||
Multi-family [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans And Leases Receivable Gross Carrying Amount | 4,309 | 2,124 | ||||
Less: | ||||||
Allowance for loan losses | 2 | 23 | 33 | 16 | 19 | 19 |
Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans And Leases Receivable Gross Carrying Amount | 11,807 | 8,998 | ||||
Less: | ||||||
Allowance for loan losses | 145 | 98 | 105 | 126 | 110 | 77 |
Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans And Leases Receivable Gross Carrying Amount | 1,439 | 2,796 | ||||
Less: | ||||||
Allowance for loan losses | 39 | 62 | 56 | 29 | 4 | 15 |
Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans And Leases Receivable Gross Carrying Amount | 1,118 | 812 | ||||
Less: | ||||||
Allowance for loan losses | $0 | $12 | $0 | $5 | $4 | $6 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Allowance for loan losses: | ||||
Beginning Balance | $1,551 | $1,430 | $1,537 | $1,398 |
Provision for loan losses | 15 | 200 | 30 | 230 |
Charge-offs | 0 | -54 | -3 | -54 |
Recoveries | 7 | 2 | 9 | 4 |
Ending Balance | 1,573 | 1,578 | 1,573 | 1,578 |
1-4 Family Owner Occupied [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 1,089 | 995 | 1,065 | 1,008 |
Provision for loan losses | 11 | 151 | 37 | 136 |
Charge-offs | 0 | -54 | -3 | -54 |
Recoveries | 5 | 1 | 6 | 3 |
Ending Balance | 1,105 | 1,093 | 1,105 | 1,093 |
1-4 Family Non-Owner Occupied [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 267 | 298 | 278 | 273 |
Provision for loan losses | 15 | 11 | 4 | 36 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Ending Balance | 282 | 309 | 282 | 309 |
Multi-family [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 23 | 19 | 33 | 19 |
Provision for loan losses | -21 | -3 | -31 | -3 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Ending Balance | 2 | 16 | 2 | 16 |
Commercial [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 98 | 110 | 105 | 77 |
Provision for loan losses | 47 | 16 | 40 | 49 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Ending Balance | 145 | 126 | 145 | 126 |
Construction [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 62 | 4 | 56 | 15 |
Provision for loan losses | -23 | 25 | -17 | 14 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Ending Balance | 39 | 29 | 39 | 29 |
Consumer [Member] | ||||
Allowance for loan losses: | ||||
Beginning Balance | 12 | 4 | 0 | 6 |
Provision for loan losses | -14 | 0 | -3 | -2 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 2 | 1 | 3 | 1 |
Ending Balance | $0 | $5 | $0 | $5 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses (Details 2) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Allowance for loan losses: | ||
Ending balance, individually evaluated for impairment | $249 | $319 |
Ending balance, collectively evaluated for impairment | 1,324 | 1,218 |
Loans: | ||
Ending balance | 79,296 | 68,799 |
Ending balance; individually evaluated for impairment | 2,080 | 2,309 |
Ending balance; collectively evaluated for impairment | 77,216 | 66,490 |
1-4 Family Owner Occupied [Member] | ||
Allowance for loan losses: | ||
Ending balance, individually evaluated for impairment | 153 | 205 |
Ending balance, collectively evaluated for impairment | 952 | 860 |
Loans: | ||
Ending balance | 50,781 | 45,255 |
Ending balance; individually evaluated for impairment | 1,776 | 1,810 |
Ending balance; collectively evaluated for impairment | 49,005 | 43,445 |
1-4 Family Non-Owner Occupied [Member] | ||
Allowance for loan losses: | ||
Ending balance, individually evaluated for impairment | 96 | 114 |
Ending balance, collectively evaluated for impairment | 186 | 164 |
Loans: | ||
Ending balance | 9,842 | 8,814 |
Ending balance; individually evaluated for impairment | 304 | 340 |
Ending balance; collectively evaluated for impairment | 9,538 | 8,474 |
Multi-family [Member] | ||
Allowance for loan losses: | ||
Ending balance, individually evaluated for impairment | 0 | 0 |
Ending balance, collectively evaluated for impairment | 2 | 33 |
Loans: | ||
Ending balance | 4,309 | 2,124 |
Ending balance; individually evaluated for impairment | 0 | 0 |
Ending balance; collectively evaluated for impairment | 4,309 | 2,124 |
Commercial [Member] | ||
Allowance for loan losses: | ||
Ending balance, individually evaluated for impairment | 0 | 0 |
Ending balance, collectively evaluated for impairment | 145 | 105 |
Loans: | ||
Ending balance | 11,807 | 8,998 |
Ending balance; individually evaluated for impairment | 0 | 159 |
Ending balance; collectively evaluated for impairment | 11,807 | 8,839 |
Construction [Member] | ||
Allowance for loan losses: | ||
Ending balance, individually evaluated for impairment | 0 | 0 |
Ending balance, collectively evaluated for impairment | 39 | 56 |
Loans: | ||
Ending balance | 1,439 | 2,796 |
Ending balance; individually evaluated for impairment | 0 | 0 |
Ending balance; collectively evaluated for impairment | 1,439 | 2,796 |
Consumer [Member] | ||
Allowance for loan losses: | ||
Ending balance, individually evaluated for impairment | 0 | 0 |
Ending balance, collectively evaluated for impairment | 0 | 0 |
Loans: | ||
Ending balance | 1,118 | 812 |
Ending balance; individually evaluated for impairment | 0 | 0 |
Ending balance; collectively evaluated for impairment | $1,118 | $812 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses (Details 3) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | $79,296 | $68,799 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 77,969 | 66,888 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,327 | 1,911 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
1-4 Family Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 50,781 | 45,255 |
1-4 Family Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 49,758 | 43,724 |
1-4 Family Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
1-4 Family Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,023 | 1,531 |
1-4 Family Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
1-4 Family Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 9,842 | 8,814 |
1-4 Family Non-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 9,538 | 8,434 |
1-4 Family Non-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
1-4 Family Non-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 304 | 380 |
1-4 Family Non-Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Multi-family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4,309 | 2,124 |
Multi-family [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4,309 | 2,124 |
Multi-family [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Multi-family [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Multi-family [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 11,807 | 8,998 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 11,807 | 8,998 |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,439 | 2,796 |
Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,439 | 2,796 |
Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,118 | 812 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,118 | 812 |
Consumer [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Consumer [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Consumer [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | $0 | $0 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses (Details 4) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 to 59 Days Past Due | $315 | $430 |
60 to 89 Days Past Due | 0 | 0 |
Greater Than 90 Days | 0 | 402 |
Total Past Due | 315 | 832 |
Current | 78,981 | 67,967 |
Total Loans Receivable | 79,296 | 68,799 |
Total Loans > 90 Days & Accruing | 0 | 0 |
1-4 Family Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 to 59 Days Past Due | 212 | 430 |
60 to 89 Days Past Due | 0 | 0 |
Greater Than 90 Days | 0 | 402 |
Total Past Due | 212 | 832 |
Current | 50,569 | 44,423 |
Total Loans Receivable | 50,781 | 45,255 |
Total Loans > 90 Days & Accruing | 0 | 0 |
1-4 Family Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 to 59 Days Past Due | 103 | 0 |
60 to 89 Days Past Due | 0 | 0 |
Greater Than 90 Days | 0 | 0 |
Total Past Due | 103 | 0 |
Current | 9,739 | 8,814 |
Total Loans Receivable | 9,842 | 8,814 |
Total Loans > 90 Days & Accruing | 0 | 0 |
Multi-family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 to 59 Days Past Due | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 |
Greater Than 90 Days | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 4,309 | 2,124 |
Total Loans Receivable | 4,309 | 2,124 |
Total Loans > 90 Days & Accruing | 0 | 0 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 to 59 Days Past Due | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 |
Greater Than 90 Days | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 11,807 | 8,998 |
Total Loans Receivable | 11,807 | 8,998 |
Total Loans > 90 Days & Accruing | 0 | 0 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 to 59 Days Past Due | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 |
Greater Than 90 Days | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 1,439 | 2,796 |
Total Loans Receivable | 1,439 | 2,796 |
Total Loans > 90 Days & Accruing | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30 to 59 Days Past Due | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 |
Greater Than 90 Days | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 1,118 | 812 |
Total Loans Receivable | 1,118 | 812 |
Total Loans > 90 Days & Accruing | $0 | $0 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses (Details 5) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 |
Loans with an allowance recorded: | |||||
Allowance for Loan Losses Allocated | $249 | $249 | $319 | ||
Recorded Investment, Total | 2,080 | 2,080 | 2,309 | ||
Unpaid Principal Balance, Total | 2,343 | 2,343 | 2,444 | ||
Average Recorded Investment, Total | 2,072 | 2,921 | 2,084 | 2,946 | |
Interest Income Recognized, Total | 0 | 0 | 0 | 0 | |
1-4 Family Owner Occupied [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 1,124 | 1,124 | 918 | ||
Unpaid Principal Balance | 1,267 | 1,267 | 1,003 | ||
Average Recorded Investment | 1,110 | 930 | 1,116 | 937 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 652 | 652 | 892 | ||
Unpaid Principal Balance | 726 | 726 | 905 | ||
Allowance for Loan Losses Allocated | 153 | 153 | 205 | ||
Average Recorded Investment | 656 | 1,364 | 661 | 1,377 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
1-4 Family Non-Owner Occupied [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 76 | 76 | 102 | ||
Unpaid Principal Balance | 90 | 90 | 114 | ||
Average Recorded Investment | 76 | 312 | 77 | 315 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 228 | 228 | 238 | ||
Unpaid Principal Balance | 260 | 260 | 263 | ||
Allowance for Loan Losses Allocated | 96 | 96 | 114 | ||
Average Recorded Investment | 230 | 84 | 230 | 85 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Multi-family [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Allowance for Loan Losses Allocated | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Commercial [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 0 | 0 | 159 | ||
Unpaid Principal Balance | 0 | 0 | 159 | ||
Average Recorded Investment | 0 | 53 | 0 | 53 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Allowance for Loan Losses Allocated | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 178 | 0 | 179 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Construction [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Allowance for Loan Losses Allocated | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Consumer [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | ||
Interest Income Recognized | 0 | 0 | 0 | ||
Loans with an allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Allowance for Loan Losses Allocated | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | $0 | $0 | $0 | $0 |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses (Details 6) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Real Estate [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | $1,209 | $1,439 |
1-4 Family Owner Occupied [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 1,124 | 918 |
1-4 Family Owner Occupied [Member] | Real Estate [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 905 | 1,099 |
1-4 Family Non-Owner Occupied [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 76 | 102 |
1-4 Family Non-Owner Occupied [Member] | Real Estate [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 304 | 340 |
Multi-family [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Multi-family [Member] | Real Estate [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Commercial [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 159 |
Commercial [Member] | Real Estate [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Construction [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Construction [Member] | Real Estate [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Consumer [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Consumer [Member] | Real Estate [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | $0 | $0 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses (Details 7) (1-4 Family Owner Occupied [Member], Real Estate [Member], USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Loans | |
1-4 Family Owner Occupied [Member] | Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Loans | 1 |
Pre Modification Outstanding Recorded Investment | $190 |
Post Modification Outstanding Recorded Investment | $190 |
Recovered_Sheet1
Loans and Allowance for Loan Losses (Details 8) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications, Recorded Investment | $1,700 | |
1-4 Family Owner Occupied [Member] | ||
Financing Receivable, Modifications, Recorded Investment | 190 | |
Interest Only [Member] | 1-4 Family Owner Occupied [Member] | ||
Financing Receivable, Modifications, Recorded Investment | 190 | |
Term [Member] | 1-4 Family Owner Occupied [Member] | ||
Financing Receivable, Modifications, Recorded Investment | 0 | |
Combination [Member] | 1-4 Family Owner Occupied [Member] | ||
Financing Receivable, Modifications, Recorded Investment | $0 |
Recovered_Sheet2
Loans and Allowance for Loan Losses (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | |
Loans and Leases Receivable, Gross | $79,296,000 | $79,296,000 | $68,799,000 | ||
Financing Receivable, Modifications, Recorded Investment | 1,700,000 | 1,700,000 | |||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 135,000 | 135,000 | 148,000 | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | -35,000 | 74,000 | -58,000 | 254,000 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 18,000 | ||||
Residential, Subprime, Financing Receivable [Member] | |||||
Loans and Leases Receivable, Gross | $6,500,000 | $6,500,000 | $9,300,000 |
Regulatory_Matters_Details
Regulatory Matters (Details) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Total Capital (to Risk-Weighted Assets) | ||
Actual Amount | $9,672 | $9,511 |
Actual Ratio | 17.60% | 20.60% |
For Capital Adequacy Purposes Amount | 4,394 | 3,699 |
For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 5,492 | 4,623 |
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier I Capital (to Risk-Weighted Assets) | ||
Actual Amount | 9,001 | 8,922 |
Actual Ratio | 16.40% | 19.30% |
For Capital Adequacy Purposes Amount | 2,197 | 1,849 |
For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 3,295 | 2,774 |
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.00% | 6.00% |
Tier I Capital (to Total Assets) | ||
Actual Amount | 9,001 | 8,922 |
Actual Ratio | 9.30% | 10.00% |
For Capital Adequacy Purposes Amount | 3,859 | 3,565 |
For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $4,823 | $4,456 |
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Disclosures_about_Fair_Value_o2
Disclosures about Fair Value of Assets and Liabilities (Details) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | $5,416 | |
Mortgage Backed Securities Of U.S. Government Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 4,325 | 4,914 |
U. S. Government Agency Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 502 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage Backed Securities Of U.S. Government Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U. S. Government Agency Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 5,416 | |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage Backed Securities Of U.S. Government Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 4,325 | 4,914 |
Significant Other Observable Inputs (Level 2) [Member] | U. S. Government Agency Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 502 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage Backed Securities Of U.S. Government Sponsored Entities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | U. S. Government Agency Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | $0 |
Disclosures_about_Fair_Value_o3
Disclosures about Fair Value of Assets and Liabilities (Details 1) (Impaired Loans [Member], USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
1-4 Family Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | $283 | $459 |
1-4 Family Non-Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | 132 | 134 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | 1-4 Family Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | 1-4 Family Non-Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | 1-4 Family Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | 1-4 Family Non-Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | 1-4 Family Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | 283 | 459 |
Significant Unobservable Inputs (Level 3) [Member] | 1-4 Family Non-Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | $132 | $134 |
Disclosures_about_Fair_Value_o4
Disclosures about Fair Value of Assets and Liabilities (Details 2) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Jun. 30, 2014 |
1-4 Family Owner Occupied [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | $283 | $459 |
Fair Value Measurements, Valuation Techniques | Sales comparison approach | Sales comparison approach |
Fair Value Measurements, Unobservable Inputs | Adjustment for differences between the comparable real estate sales | Adjustment for differences between the comparable real estate sales |
1-4 Family Non-Owner Occupied [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Techniques | Sales comparison approach | |
1-4 Family Non-Owner Occupied [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Nonrecurring | $132 | $134 |
Fair Value Measurements, Valuation Techniques | Sales comparison approach | |
Fair Value Measurements, Unobservable Inputs | Adjustment for differences between the comparable real estate sales | Adjustment for differences between the comparable real estate sales |
Maximum [Member] | 1-4 Family Owner Occupied [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Range | 24.00% | 24.00% |
Maximum [Member] | 1-4 Family Non-Owner Occupied [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Range | -19.00% | -24.00% |
Minimum [Member] | 1-4 Family Owner Occupied [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Range | -18.00% | -19.00% |
Minimum [Member] | 1-4 Family Non-Owner Occupied [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Range | -3.00% | -10.00% |
Weighted Average [Member] | 1-4 Family Owner Occupied [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Range | 4.00% | 2.00% |
Weighted Average [Member] | 1-4 Family Non-Owner Occupied [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Range | -12.00% | -11.00% |
Disclosures_about_Fair_Value_o5
Disclosures about Fair Value of Assets and Liabilities (Details 3) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |||
Financial assets | |||
Cash and cash equivalents | $2,710 | $4,470 | |
Interest-bearing time deposits | 3,100 | 4,004 | |
Held-to-maturity securities | 1,902 | 2,326 | 2,893 |
Loans | 79,110 | 68,619 | |
Accrued interest receivable | 198 | 187 | |
Financial liabilities | |||
Deposits | 60,114 | 60,775 | |
Federal Home Loan Bank advances | 18,611 | 17,081 | |
Stock subscription proceeds in escrow | 6,658 | ||
Accrued interest payable | 28 | 23 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Financial assets | |||
Cash and cash equivalents | 2,710 | 4,470 | |
Interest-bearing time deposits | 0 | 0 | |
Held-to-maturity securities | 0 | 0 | |
Loans | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Financial liabilities | |||
Deposits | 0 | 0 | |
Federal Home Loan Bank advances | 0 | 0 | |
Stock subscription proceeds in escrow | 6,658 | ||
Accrued interest payable | 0 | 0 | |
Significant Other Observable Inputs (Level 2) [Member] | |||
Financial assets | |||
Cash and cash equivalents | 0 | 0 | |
Interest-bearing time deposits | 3,100 | 1,756 | |
Held-to-maturity securities | 1,902 | 2,326 | |
Loans | 0 | 0 | |
Accrued interest receivable | 80 | 31 | |
Financial liabilities | |||
Deposits | 60,114 | 60,775 | |
Federal Home Loan Bank advances | 18,611 | 17,081 | |
Stock subscription proceeds in escrow | 0 | ||
Accrued interest payable | 28 | 23 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Financial assets | |||
Cash and cash equivalents | 0 | 0 | |
Interest-bearing time deposits | 0 | 2,248 | |
Held-to-maturity securities | 0 | 0 | |
Loans | 79,110 | 68,619 | |
Accrued interest receivable | 118 | 156 | |
Financial liabilities | |||
Deposits | 0 | 0 | |
Federal Home Loan Bank advances | 0 | 0 | |
Stock subscription proceeds in escrow | 0 | ||
Accrued interest payable | 0 | 0 | |
Carrying Amount [Member] | |||
Financial assets | |||
Cash and cash equivalents | 2,710 | 4,470 | |
Interest-bearing time deposits | 3,100 | 3,998 | |
Held-to-maturity securities | 1,973 | 2,374 | |
Loans | 77,748 | 67,284 | |
Federal Home Loan Bank stock | 1,164 | 1,164 | |
Accrued interest receivable | 198 | 187 | |
Financial liabilities | |||
Deposits | 59,935 | 60,710 | |
Federal Home Loan Bank advances | 19,128 | 17,333 | |
Stock subscription proceeds in escrow | 6,658 | ||
Accrued interest payable | $28 | $23 |
Disclosures_about_Fair_Value_o6
Disclosures about Fair Value of Assets and Liabilities (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Loans And Leases Receivable Individually Evaluated For Impairment | $646,000 | $646,000 | $892,000 | ||
Valuation Allowance For Collateral Dependent Loans | 230,000 | 230,000 | 299,000 | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | ($35,000) | $74,000 | ($58,000) | $254,000 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | ($109) | ($125) | ($93) | ($124) |
Other comprehensive loss | 23 | -38 | 5 | -10 |
Transfer of securities from available for sale to held to maturity | -31 | |||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | 2 | 2 | 4 | 4 |
Net current period other comprehensive income | 25 | -36 | 9 | -37 |
Ending balance | -84 | -161 | -84 | -161 |
Unrealized Gains and Losses on Available for Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | -85 | -96 | -67 | -124 |
Other comprehensive loss | 23 | -38 | 5 | -10 |
Transfer of securities from available for sale to held to maturity | 0 | |||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | 0 | 0 | 0 | 0 |
Net current period other comprehensive income | 23 | -38 | 5 | -10 |
Ending balance | -62 | -134 | -62 | -134 |
Unrealized gains and losses on securities transferred from Available for Sale to Held to Maturity [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | -24 | -29 | -26 | 0 |
Other comprehensive loss | 0 | 0 | 0 | 0 |
Transfer of securities from available for sale to held to maturity | -31 | |||
Accretion of unrealized losses on securities transferred from available for sale to held to maturity recognized in other comprehensive income | 2 | 2 | 4 | 4 |
Net current period other comprehensive income | 2 | 2 | 4 | -27 |
Ending balance | ($22) | ($27) | ($22) | ($27) |
Plan_of_Conversion_and_Change_1
Plan of Conversion and Change in Corporate Form (Details Textual) (USD $) | 6 Months Ended | ||
Dec. 31, 2014 | Aug. 28, 2014 | Jun. 30, 2014 | |
Plan Of Conversion And Change In Corporate Form [Line Items] | |||
Sale of Stock, Price Per Share | $10 | $10 | |
Sale of Stock, Percentage of Ownership after Transaction | 8.00% | ||
Deferred Costs | $902,000 | $114,000 | |
Accumulated Deferred Conversion Costs | 90,000 | ||
Escrow Deposit | $6,700,000 | ||
Common Stock, Shares, Issued | 876,163 |