Equitable Financial (EQFN) 10-K 23 Sep 16 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2016	Sep. 23, 2016	Dec. 31, 2015
Document and Entity Information
Entity Registrant Name	Equitable Financial Corp.
Entity Central Index Key	1,635,626
Document Type	10-K
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 26,210,728
Entity Common Stock, Shares Outstanding		3,477,157
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Assets
Cash and due from financial institutions	$ 2,567,296	$ 3,037,653
Interest-earning deposits	12,380,000	18,475,000
Total cash and due from financial institutions and interest-earning deposits	14,947,296	21,512,653
Time deposits with financial institutions	0	500,000
Securities available-for-sale	664,755	420,248
Securities held-to-maturity	781,740	3,276,752
Federal Home Loan Bank stock, at cost	229,900	226,800
Loans, net of allowance for loan losses of $2,947,000 and $2,583,000, respectively	198,309,920	178,423,486
Premises and equipment, net	5,274,461	5,551,790
Foreclosed assets, net	461,847	349,708
Accrued interest receivable	1,147,467	1,044,271
Deferred taxes, net	1,416,093	1,765,189
Other assets	1,853,698	1,958,816
Total assets	225,087,177	215,029,713
Liabilities:
Noninterest-bearing deposits	24,296,166	21,779,092
Interest-bearing deposits	162,666,186	152,989,829
Total deposits	186,962,352	174,768,921
Advance payments from borrowers for taxes and insurance	387,166	404,467
Accrued interest payable and other liabilities	1,198,850	18,408,315
Total liabilities	188,548,368	193,581,703
Common stock in ESOP subject to contingent repurchase obligation	564,723	516,800
Stockholders’ equity:
Common stock, $0.01 par value, 25,000,000 shares authorized 3,477,227 issued and 3,477,157 outstanding at June 30, 2016 and 14,000,000 shares authorized and 3,297,509 shares issued and outstanding at June 30, 2015	34,771	32,975
Additional paid-in capital	26,844,426	13,086,447
Retained earnings	11,239,913	10,185,155
Unearned ESOP Shares	(1,246,045)	(408,750)
Shares reserved for stock compensation	(338,332)	(465,080)
Treasury stock at cost; 114,505 shares at June 30, 2015		(978,682)
Accumulated other comprehensive gain (loss), net of tax	4,076	(4,055)
Reclassification of ESOP shares	(564,723)	(516,800)
Total stockholders' equity	35,974,086	20,931,210
Total liabilities and stockholders' equity	$ 225,087,177	$ 215,029,713

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statements of Financial Condition
Allowance for loan losses	$ 2,947,000	$ 2,583,000
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	25,000,000	14,000,000
Common Stock, shares issued	3,477,227	3,297,509
Common Stock, shares outstanding	3,477,157	3,297,509
Treasury Stock, shares		114,505

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Interest income:
Loans	$ 8,228,373	$ 7,222,478
Securities	79,639	189,111
Other	71,502	22,495
Total interest income	8,379,514	7,434,084
Interest expense:
Deposits	1,043,895	933,729
Federal Home Loan Bank borrowings		240,669
Other	792	537
Total interest expense	1,044,687	1,174,935
Net interest income	7,334,827	6,259,149
Provision for loan losses	275,024	(557,533)
Net interest income after provision for loan losses	7,059,803	6,816,682
Noninterest income:
Service charges on deposit accounts	594,624	577,067
Brokerage fee income	633,215	578,714
Gain on sale of loans	750,353	722,486
Other loan fees	264,626	255,850
Other income	141,385	99,460
Total noninterest income	2,384,203	2,233,577
Noninterest expense:
Salaries and employee benefits	4,479,207	4,255,652
Director and committee fees	160,150	131,650
Data processing fees	539,077	328,447
Occupancy and equipment	886,280	891,891
Regulatory fees and deposit insurance premium	206,756	196,439
Advertising and public relations	215,681	206,065
Insurance and surety bond premiums	98,978	87,119
Professional fees	448,289	150,253
Supplies, telephone and postage	265,254	260,439
Other expenses	598,770	549,764
Total noninterest expense	7,898,442	7,057,719
Income before income taxes	1,545,564	1,992,540
Income tax expense	(490,806)	(710,224)
Net income	$ 1,054,758	$ 1,282,316
Basic earnings per share (in dollars per share)	$ 0.32	$ 0.42
Diluted earnings per share (in dollars per share)	$ 0.32	$ 0.41

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 1,054,758	$ 1,282,316
Other comprehensive income:
Unrealized gain (loss) on securities available-for-sale, net of tax	8,131	(699)
Comprehensive income	$ 1,062,889	$ 1,281,617

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Equity	Additional Paid In Capital	Retained Earnings	Unearned ESOP Shares	Shares Reserved for Stock Compensation	Treasury Stock	Accumulated Other Comprehensive (Loss)	Amount Reclassified on ESOP Shares	Total
BALANCE at Jun. 30, 2014	$ 32,975	$ 13,236,086	$ 8,902,839	$ (499,590)	$ (698,015)	$ (978,682)	$ (3,356)	$ (388,585)	$ 19,603,672
Increase (Decrease) in Stockholders' Equity
Net Income			1,282,316						1,282,316
Other comprehensive income							(699)		(699)
Release of unearned ESOP shares		(33,324)		90,840					57,516
Stock compensation expense		(116,315)			232,935				116,620
Reclassification due to release and changes in fair value of common stock in ESOP subject to contingent repurchase obligation of ESOP shares								(128,215)	(128,215)
BALANCE at Jun. 30, 2015	32,975	13,086,447	10,185,155	(408,750)	(465,080)	(978,682)	(4,055)	(516,800)	20,931,210
Increase (Decrease) in Stockholders' Equity
Net Income			1,054,758						1,054,758
Other comprehensive income							8,131		8,131
Stock Offering Proceeds	1,796	13,820,592		(951,912)		$ 978,682			13,849,158
Release of unearned ESOP shares		(8,972)		114,617					105,645
Stock compensation expense		(53,641)			126,748				73,107
Reclassification due to release and changes in fair value of common stock in ESOP subject to contingent repurchase obligation of ESOP shares								(47,923)	(47,923)
BALANCE at Jun. 30, 2016	$ 34,771	$ 26,844,426	$ 11,239,913	$ (1,246,045)	$ (338,332)		$ 4,076	$ (564,723)	$ 35,974,086

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statements of Changes in Stockholders' Equity
Release of unearned ESOP shares (in shares)	12,888	9,084

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities:
Net income	$ 1,054,758	$ 1,282,316
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	343,651	319,843
Federal Home Loan Bank stock dividends	(3,100)	(16,700)
ESOP expense	105,645	57,516
Stock compensation expense	73,107	116,620
Amortization of deferred loan origination costs, net	480,453	460,474
Amortization of premiums and discounts	16,214	17,596
Amortization of prepayment penalty fee		216,208
Gain on sale of loans	(750,353)	(722,486)
Loss on sale of foreclosed assets	11,008	3,782
Loss on disposal of premises and equipment	58,153	799
Provision for loan losses	275,024	(557,533)
Provision for repurchase reserve		18,102
Deferred taxes	344,906	566,457
Loans originated for sale	(27,572,874)	(28,072,495)
Proceeds from sale of loans	28,507,437	28,943,974
Loss on investment from low income housing	28,087	48,008
Changes in:
Accrued interest receivable	(103,196)	(60,313)
Other assets	301,223	(729,998)
Accrued interest payable and other liabilities	138,984	37,870
Net cash provided by operating activities	3,309,127	1,930,040
Cash Flows from Investing Activities:
Net change in loans	(21,281,161)	(21,166,456)
Proceeds from sale of foreclosed assets, net	115,500	59,710
Proceeds from maturity of time deposits with financial institutions	500,000	750,000
Securities available-for-sale:
Proceeds from calls and principal repayments	223,292	446,346
Purchases	(469,253)
Securities held-to-maturity:
Proceeds from calls and principal repayments	2,492,571	362,612
Purchases of Federal Home Loan Bank stock		(13,500)
Redemption of Federal Home Loan Bank stock		353,000
Purchase of premises and equipment	(124,475)	(408,834)
Net cash used in investing activities	(18,543,526)	(19,617,122)
Cash Flows from Financing Activities:
Net change in deposits	12,193,431	25,005,628
Proceeds in advance of offering		17,354,449
Proceeds from Federal Home Loan Bank borrowings		1,410,000
Repayments of Federal Home Loan Bank borrowings		(12,394,023)
Net change in advance payments from borrowers for taxes and insurance	(17,301)	47,376
Purchase of ESOP Shares	(951,912)
Expenses and return of proceeds in advance of offering	(2,555,176)
Net cash provided by financing activities	8,669,042	31,423,430
Increase (decrease) in cash and cash equivalents	(6,565,357)	13,736,348
Cash and Cash Equivalents:
Beginning	21,512,653	7,776,305
Ending	14,947,296	21,512,653
Supplemental Cash Flow Information:
Interest paid on deposits and borrowings	1,041,293	1,177,551
Income taxes paid	137,765	$ 122,242
Supplemental Noncash Disclosure:
Transfer of loans to foreclosed assets	$ 238,647

Nature of Business and Signific

Nature of Business and Significant Accounting Policies	12 Months Ended
	Jun. 30, 2016
Nature of Business and Significant Accounting Policies
Nature of Business and Significant Accounting Policies	Not Nature of Business and Significant Accounting Policies Principles of consolidation : The accompanying consolidated financial statements include the accounts of Equitable Financial Corp. (the “Company”) and its wholly owned subsidiary, Equitable Bank (the “Bank”). All significant intercompany transactions and balances are eliminated in consolidation. Stock Conversion: On July 8, 2015, Equitable Financial, MHC, the Company’s former federally chartered mutual holding company, consummated its “second step” mutual-to-stock conversion, and the Company consummated its initial stock offering. In the offering, the Company sold 1,983,160 shares of its common stock, par value $0.01 per share, at $8.00 per share in a subscription offering and community offering, including 118,989 shares, equal to 6.0% of the shares sold in the offering, to the Equitable Bank employee stock ownership plan. The cost of conversion and the stock offering were deferred and deducted from the proceeds of the offering. Conversion costs incurred for the stock offering were $1,096,303. In accordance with applicable federal conversion regulations, at the time of the completion of our mutual-to-stock conversion, we established a liquidation account in an amount equal to the Company’s total equity as of the latest balance sheet date in the final prospectus used in the Conversion. Each eligible account holder or supplemental account holder is entitled to a proportionate share of this liquidation account in the event of a complete liquidation of the Bank, and only in such event. This share will be reduced if the eligible account holder’s or supplemental account holder’s deposit balance falls below the amounts on the date of record as of any June 30 and will cease to exist if the account is closed. The liquidation account will never be increased despite any increase after Conversion in the related deposit balance. Following completion of the Conversion, the Bank may not declare, pay a dividend on, or repurchase any of its capital stock of the Bank, if the effect thereof would cause retained earnings to be reduced below the liquidation account amount or regulatory capital requirements. Nature of business : The primary business of the Company is the ownership of the Bank. Through the Bank, the Company is engaged in the business of retail banking, with operations conducted through its main office and branches, which are located in Grand Island, North Platte and Omaha, Nebraska. The Bank’s primary services include accepting deposits, making loans and investing in securities. Use of estimates : In preparing the accompanying consolidated financial statements, management is required 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 consolidated financial statements and the reported amounts of revenue and expenses for the reporting period. Estimates significant to the consolidated financial statement include the allowance for loan losses, deferred tax valuation allowances, fair values of financial instruments and foreclosed assets. Actual results could differ from those estimates. The allowance for loan losses is inherently subjective as it requires material estimates that are susceptible to significant change. The fair value disclosure of investments and other financial instruments is an estimate that can be computed within a range. Risks and uncertainties : Changes in economic conditions in the United States, and more specifically Nebraska, could impact the credit worthiness of the Company’s borrowers and the borrowers’ ability to service their outstanding loans with the Company. Additionally, the Company is subject to interest rate risk in which changes in the interest rate environment could negatively impact the Company’s net interest margin. Cash flows : Cash and cash equivalents include cash, deposits with other financial institutions with maturities under 90 days when purchased, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions, and advance payments from borrowers for taxes and insurance. Excess cash is held in a fully secured excess balance account with Midwest Independent Bank. The balance at Midwest Independent Bank at June 30, 2016 and 2015 was $12.4 million and $18.5 million, respectively. Time deposits with financial institutions : Time deposits with financial institutions are carried at cost. At June 30, 2016 there were no time deposits with financial institutions. Securities : Securities are classified as held-to-maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Securities are classified as available-for-sale when they might be sold before maturity. Securities classified as available-for-sale are carried at fair value with unrealized holding gains and losses reported in other comprehensive income or loss, net of tax. Interest income is recognized under the interest method and includes amortization of purchase premium and discount. Gains and losses on sales are recorded on the trade date based on the amortized cost of the security sold and determined using the specific identification method. Declines in the fair value of securities available-for-sale below their amortized cost are evaluated to determine whether the loss is temporary or other-than-temporary. If the Company (a) has the intent to sell a debt security or (b) more-likely-than-not will be required to sell the debt security before its anticipated recovery, then the Company recognizes the entire unrealized loss in earnings as an other-than-temporary loss. If neither of these conditions are met, the Company evaluates whether a credit loss exists. The impairment is separated into (a) the amount of the total impairment related to the credit loss and (b) the amount of total impairment related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized in earnings and the amount related to all other factors is recognized in other comprehensive income (loss). Federal Home Loan Bank stock : The Bank is a member of the Federal Home Loan Bank (FHLB) system. Members are required to own a certain amount of stock based on the level of borrowings and other factors and may invest in additional amounts. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment. In accordance with the applicable accounting guidance, the stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: (a) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time this situation has persisted (b) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance (c) the impact of legislative and regulatory changes on the customer base of the FHLB and (d) the liquidity position of the FHLB. With consideration given to the previous criteria, management concluded that the stock was not impaired at June 30, 2016 and June 30, 2015. Loans, net : Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are stated at their outstanding unpaid principal balances, less an allowance for loan losses, premiums and discounts on loans purchased, and net deferred loan fees/costs. Interest income on loans is recognized over the term of the loan and is calculated using the simple interest method on principal amounts outstanding. Direct loan origination fees and costs are generally being deferred and the net amounts amortized as an adjustment of the related loan’s yield. The Company generally amortizes these amounts over the contractual life. Direct loan origination fees and costs related to loans sold to unrelated third parties are recognized as income or expense in the current consolidated statement of income. The Company’s portfolio segments are as follows: · Commercial · Agricultural · Residential real estate · Other The Company’s classes of loans are as follows: · Commercial – operating · Commercial – real estate · Agricultural – operating · Agricultural – real estate · Residential real estate – 1-4 family · Residential real estate – home equity · Other – construction and land · Other – consumer Generally, for all classes of loans, loans are considered past due when contractual payments are delinquent for 31 days or greater. For all classes of loans, loans will generally be placed on nonaccrual status when the loan has become greater than 90 days past due; or when management believes, after considering collection efforts and other factors, that the borrower’s financial condition is such that collection of interest is doubtful. When a loan is placed on nonaccrual status, payments received will be applied to the principal balance. However, interest may be taken on a cash basis in the event the loan is fully secured and the risk of loss is minimal. Previously recorded but uncollected interest on a loan placed in nonaccrual status is accounted for as follows: if the previously accrued but uncollected interest and the principal amount of the loan is protected by sound collateral value based upon a current, independent qualified appraisal, such interest may remain on the Company’s books. If such interest is not so protected, it is considered a loss with the amount thereof recorded in the current year being reversed against current interest income, and the amount recorded in the prior year being charged against the allowance for possible loan losses. For all classes of loans, nonaccrual loans may be restored to accrual status provided the following criteria are met: · The loan is current, and all principal and interest amounts contractually due have been made, · The loan is well secured and in the process of collection, and · Future principal and interest payments are not in doubt. Troubled debt restructures : Troubled debt restructuring exists when the Company, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession (either imposed by court order, law, or agreement between the borrower and the Company) to the borrower that it would not otherwise consider. These concessions could include forgiveness of principal, extension of maturity dates, and reduction of stated interest rates or accrued interest. The Company is attempting to maximize its recovery of the balances of the loans through these various concessionary restructurings. See Note 3 for disclosure of the Company’s troubled debt restructurings. Allowance for loan losses : For all portfolio segments, the allowance for loan losses is maintained at the level considered adequate by management of the Company to provide for losses that are probable. The allowance is increased by provisions charged to operating expense and reduced by net charge-offs. Subsequent recoveries, if any, are credited to the allowance. In determining the adequacy of the allowance balance, the Company makes continuous evaluations of the loan portfolio and related off-balance sheet commitments, considers current economic conditions, historical loan loss experience, review of specific problem loans and other factors. A discussion of the risk characteristics and the allowance for loan losses by each portfolio segment follows: For commercial loans, the Company focuses on small and mid-sized businesses in their geographical footprint. The Company provides a wide range of commercial loans, including lines of credit for working capital and operational purposes, and term loans for the acquisition of real estate, facilities, equipment and other purposes. Approval is generally based on the following factors: · Sufficient cash flow to support debt repayment; · Ability and stability of current management of the borrower; · Positive earnings and financial trends; · Earnings projections based on reasonable assumptions; · Financial strength of the industry and business; · Value and marketability of collateral. Collateral for commercial loans generally includes accounts receivable, inventory, equipment and real estate. The lending policy specifies approved collateral types and corresponding maximum advance percentages. The value of collateral pledged on loans typically exceeds the loan amount by a margin sufficient to absorb potential erosion of its value in the event of foreclosure and cover the loan amount plus costs incurred to convert it to cash. The lending policy specifies maximum term limits for commercial loans. For term loans, the typical maximum term is 10 years. The lending policy includes guidelines for real estate appraisals, including minimum appraisal standards based on certain transactions. Where the purpose of the loan is to finance depreciable equipment, the term loan generally does not exceed the estimated useful life of the asset. For lines of credit, the typical maximum term is 1 year. However, longer maturities may be approved if the loan is secured by readily marketable collateral. In addition, the Company often takes personal guarantees to help assure repayment. Loans may be made on an unsecured basis if warranted by the overall financial condition of the borrower.   Agricultural loans are subject to underwriting standards and processes similar to commercial loans. The Company provides a wide range of agriculture loans, including lines of credit for working capital and operational purposes, and term loans for the acquisition of real estate, facilities, equipment and other purposes. Approval is generally based on the following factors: · Sufficient cash flow to support debt repayment; · Ability and stability of current management of the borrower; · Positive earnings and financial trends; · Earnings projections based on reasonable assumptions; · Financial strength of the industry and business; and · Value and marketability of collateral. Collateral for agricultural loans generally includes accounts receivable, inventory (typically grain or livestock), equipment and real estate. The lending policy specifies approved collateral types and corresponding maximum advance percentages. The value of collateral pledged on loans typically exceeds the loan amount by a margin sufficient to absorb potential erosion of its value in the event of foreclosure and cover the loan amount plus costs incurred to convert it to cash. The lending policy specifies maximum term limits for agricultural loans. For term loans, the typical maximum term is 10 years. The lending policy includes guidelines for real estate appraisals, including minimum appraisal standards based on certain transactions. Where the purpose of the loan is to finance depreciable equipment, the term loan generally does not exceed the estimated useful life of the asset. For lines of credit, the typical maximum term is 1 year. However, longer maturities may be approved if the loan is secured by readily marketable collateral. In addition, the Company often takes personal guarantees to help assure repayment. Loans may be made on an unsecured basis if warranted by the overall financial condition of the borrower. In some instances for all loans, it may be appropriate to originate or purchase loans that are exceptions to the guidelines and limits established within the lending policy described above and below. In general, exceptions to the lending policy do not significantly deviate from the guidelines and limits established within the lending policy and, if there are exceptions, they are clearly noted as such and specifically identified in loan approval documents. For commercial loans and agricultural loans, the allowance for estimated losses on loans consists of specific and general components. The specific component relates to loans that are classified as impaired, as defined below. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. For commercial loans and agricultural loans, a loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a case-by-case basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. The general component consists of quantitative and qualitative factors and covers non-impaired loans. The quantitative factors are based on historical charge-off experience. The qualitative factors are determined based on an assessment of internal and/or external influences on credit quality that are not fully reflected in the historical loss data. The Company’s credit quality indicator for all loans excluding commercial loans is past due or performance status. The Company’s credit quality indicator for commercial loans is internal risk ratings. For commercial and agriculture loans, the Company utilizes the following internal risk rating scale: 1. Highest Quality – Loans represent a credit extension of the highest quality. Excellent liquidity, management and character in an industry with favorable conditions. High quality financial information, history of strong cash flows and superior collateral including readily marketable assets, prime real estate, U.S. government securities, U.S. government agencies, highly rated municipal bonds, insured savings accounts, and insured certificates of deposit drawn on high-quality financial institutions. 2. Good Quality – Loans which have a sound primary and secondary source of repayment. Strong to good liquidity, management and character in an industry with favorable conditions. Good quality financial information and margins of cash flow coverage is consistently good. Loans may be unsecured, secured by quality (but less readily marketable) assets, high quality real estate or traded stocks, lower grade municipal bonds (which must still be investment grade), and uninsured certificates of deposit on other financial institutions may also be included in this grade. 3. Acceptable Quality – Loans where the borrower is a reasonable credit risk and demonstrates the ability to repay the debt from normal business operations. Good liquidity, management and character in an industry that is more sensitive to external factors. Alternative sources of refinancing may be less available in periods of uncertain economic conditions. Term debt is moderate but cash flow margins fall within bank policy guidelines. Quality of financial information is adequate but is not as detailed and sophisticated as information found on higher-grade loans. Secured by business assets that conform to usual lending parameters for margin and eligibility or real estate that is deemed to be of satisfactory quality in an area that may not be prime but still within viable economic centers. 4. Fair Quality – Loans where the borrower is a reasonable credit risk but shows a more erratic earnings history (a loss may have been realized in the past four years). Liquidity is limited and primary repayment is susceptible to unfavorable external factors. Industry characteristics are generally stable. Borrower is more highly leveraged with increased levels of term debt. Cash flow margins remain adequate but may not fall within the policy guidelines. Quality of financial information is adequate and interim reporting may be required. Secured by business assets with an adequate collateral margin or real estate that is of fair quality and location. Property may have limited alternative uses and may be considered a “special use” facility. 5. Special Mention – Loans in this category have the potential for developing weaknesses that deserve extra attention from the account manager and other management personnel. If the developing weakness is not corrected or mitigated, the ability of the borrower to repay the Company’s debt in the future may deteriorate. This grade should not be assigned to loans that bear certain peculiar risks normally associated with the type of financing involved, unless circumstances have caused the risk to increase to a level higher than would have been acceptable when the credit was originally approved. If a loan’s actual, not potential, weakness or problems are clearly evident and significant it should generally be graded in one of the following grade categories. 6. Substandard – Loans and other credit extensions are considered to be inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. These loans, even if apparently protected by collateral value, have a well-defined weakness or weaknesses that jeopardize the liquidation of debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual loans classified substandard. 7. Doubtful – Loans and other credit extensions have all the weaknesses inherent in those graded “6” with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonably specific pending factors, which may work to the advantage and strengthening of the loan, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include: proposed merger, acquisition, or liquidation actions; capital injection; perfecting liens on collateral and refinancing plans. Loans in this classification should be placed in non-accrual status, with collections applied to principal. 8. Loss – Loans are considered uncollectible and cannot be justified as a viable asset of the Bank. This classification does not mean the loan has absolutely no recovery value. However, it is not prudent to delay writing off this loan even though partial recovery may be obtained in the future. For commercial and agricultural loans or credit relationships with aggregate exposure greater than $250,000, a loan review is required within 12 months of the most recent credit review. The reviews are completed in enough detail to, at a minimum, validate the risk rating. Additionally, the reviews shall determine whether any documentation exceptions exist, appropriate written analysis is included in the loan file, and whether credit policies have been properly adhered to. Many of the residential real estate loans underwritten by the Company conform to the underwriting requirements of Freddie Mac or other secondary market aggregators to allow the Company to resell loans in the secondary market. Servicing rights are retained on many, but not all, of the residential real estate loans sold in the secondary market. The lending policy establishes minimum appraisal and other credit guidelines. Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or market, as determined by outstanding commitments from investors. As of June 30, 2016 and June 30, 2015, loans held for sale were immaterial to the consolidated financial statements. Periodically, the Company originates first mortgage loans for other investors. Generally, the Company receives fees equivalent to a stated percentage of the loan amount. This fee is recognized as income at the time of closing. From time to time, the Company also originates loans for sale in the secondary market. Gain on sale of loans in the secondary market is included in noninterest income. The Company provides many types of consumer and other loans, including motor vehicle, home improvement, home equity, signature loans and small personal credit lines. The lending policy addresses specific credit guidelines by consumer loan type. For residential real estate loans and consumer and other loans, these large groups of smaller balance homogenous loans are collectively evaluated for impairment. In estimating the allowance for loan losses for these loans, the Company applies quantitative and qualitative factors on a portfolio segment basis. Quantitative factors are based on historical charge-off experience and qualitative factors are based on an assessment of internal and/or external influences on credit quality that are not fully reflected in the historical loss data. Accordingly, the Company generally does not separately identify individual residential real estate loans and/or consumer and other loans for impairment disclosures, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower. Troubled debt restructures are considered impaired loans and are subject to the same allowance methodology as described above for impaired loans by portfolio segment. Transfers of financial assets : Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from the Company; (2) the transferee has the right to pledge or exchange the assets it received, and no condition both constrains the transferee from taking advantage of its right to pledge or exchange and provides more than a trivial benefit to the transferor; and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. Premises and equipment : Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is included in noninterest expense and is computed on 25 to 40 years for buildings and improvements that extend the life of the original building, 10 to 20 years for routine building improvements, 5 to 15 years for furniture and equipment, 5 years for vehicles, and 2 to 5 years for computer equipment. The cost of maintenance and repairs is charged to expense as incurred. Long-term assets : Premises and equipment and other long-term assets are reviewed for impairment when events indicate that their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. No impairment has been recognized by the Company for the years ended June 30, 2016 and 2015. Foreclosed assets : Assets acquired through foreclosure are initially recorded at fair value, less estimated costs to sell, establishing a new cost basis. If the fair value less costs to sell is less than the respective loan balance, a charge against the allowance for loan losses is recorded upon property acquisition. Declines in property value subsequent to acquisition are charged to operations. Holding costs are expensed as incurred. Brokerage fee income : Acting as an agent, the Company earns brokerage income by buying and selling securities on behalf of its customers through independent third parties and earning fees on the transactions. These fees are recorded on the settlement date, which is not materially different than the trade date. Income taxes : Income tax expense or benefit is the sum of the current year income tax due or refundable and the change in the deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax consequence of temporary differences between the carrying amounts and tax basis of assets and liabilities, computed using enacted tax rates. A valuation allowance reduces deferred tax assets to the amount expected to be realized. The Company follows the guidance on accounting for uncertainty in income taxes which allows the Company to recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. When applicable, the Company recognizes interest and penalties on income taxes as a component of income tax (benefit) expense. Employee Stock Ownership Plan : The cost of shares issued to the Employee Stock Ownership Plan (“ESOP”) but not yet allocated to participants is presented in the consolidated balance sheet as a reduction of stockholders’ equity. Compensation expense is recorded based on the market price of the shares as the shares are committed to be released for allocation to participant accounts. Because participants may require the Company to purchase their ESOP shares upon termination of their employment, the appraised fair value of all earned and allocated ESOP shares is reclassified from stockholders’ equity. Loan commitments and related financial instruments : Financial instruments include off-balance-sheet credit instruments, such as commitments to make loans and standby letters of credit, issued to meet customer-financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Fair value of financial instruments : Fair values of financial instruments are estimated using relevant market value information and other assumptions, as more fully disclosed in Note 14. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. Earnings per share : Basic earnings per share is based on net income divided by the weighted average number of shares outstanding during the period, including allocated and committed to be released ESOP shares. Diluted earnings per share shows the dilutive effect, if any, of additional common shares issuable under stock options or awards. Loss contingencies : Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are such matters that will have a material effect on the consolidated financial statements. Comprehensive income (loss) : Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains (losses) on securities available-for-sale, net of tax. Recent accounting pronouncements : In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this Update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this Update are effective for fiscal years beginning after Decemb

Securities

Securities	12 Months Ended
	Jun. 30, 2016
Securities
Securities	Note 2. Securities The fair value of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows: Gross Gross Amortized Unrealized Unrealized June 30, 2016 Cost Gains Losses Fair Value Residential mortgage-backed securities $ $ $ — $ Gross Gross Amortized Unrealized Unrealized June 30, 2015 Cost Gains Losses Fair Value Residential mortgage-backed securities $ $ — $ $ The carrying amount, unrecognized gross gains and losses, and fair value of securities held-to-maturity are as follows: Gross Gross Amortized Unrealized Unrealized June 30, 2016 Cost Gains Losses Fair Value Residential mortgage-backed securities $ $ $ — $ Municipal securities — $ $ $ — $ Gross Gross Amortized Unrealized Unrealized June 30, 2015 Cost Gains Losses Fair Value Residential mortgage-backed securities $ $ $ — $ Municipal securities — $ $ $ — $ Securities available-for-sale and held-to-maturity consist of investments in bonds securitized by the Government National Mortgage Association and local municipal securities. Interest income from municipal securities approximated $58,000 and $141,000 for the years ended June 30, 2016 and 2015, respectively. The contractual maturities of the residential mortgage-backed securities at June 30, 2016 are not disclosed because the securities are not due at a single maturity date. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Approximately $400,000 in municipal securities will mature in the year ending June 30, 2019 with the remaining balance maturing in the year ending June 30, 2020. There were no sales of securities for the years ended June 30, 2016 and 2015. The duration of gross unrealized losses is not disclosed as such amounts are immaterial to the consolidated financial statements. The Company has not recognized other-than-temporary impairment on any securities for the years ended June 30, 2016 and 2015. The following table shows the amount of securities pledged at June 30, 2016 and 2015: June 30, 2016 June 30, 2015 Securities available-for-sale, at fair value $ $ Securities held-to-maturity, at amortized cost

Loans

Loans	12 Months Ended
	Jun. 30, 2016
Loans
Loans	Note 3. Loans Loans at June 30 are as follows: 2016 2015 Commercial: Operating $ $ Real estate Agricultural: Operating Real estate Residential real estate: 1-4 family Home equity Other: Construction and land Consumer Total loans Deferred loan origination costs, net Allowance for loan losses Loans, net $ $ Changes in the allowance for loan losses, by portfolio segment, during the years ended June 30, 2016 and 2015 are summarized as follows: Residential Commercial Agricultural Real Estate Other Total 2016 Balance, beginning $ $ $ $ $ Provision charged to expense Recoveries — Loans charged off — — — Balance, ending $ $ $ $ $ Residential Commercial Agricultural Real Estate Other Total 2015 Balance, beginning $ $ $ $ $ Provision charged to expense Recoveries — Loans charged off — — Balance, ending $ $ $ $ $ The allowance for loan losses, by impairment evaluation and portfolio segment, as of June 30, 2016 and 2015, is summarized as follows: Residential Commercial Agricultural Real Estate Other Total 2016 Allowance for loans individually evaluated for impairment $ $ — $ $ — $ Allowance for loans collectively evaluated for impairment $ $ $ $ $ Loans individually evaluated for impairment $ $ $ $ $ Loans collectively evaluated for impairment $ $ $ $ $ Allowance as a percentage of loans individually evaluated for impairment % % — % % — % % Allowance as a percentage of loans collectively evaluated for impairment % % % % % % Allowance as a percentage of total loans evaluated for impairment % % % % % % Residential Commercial Agricultural Real Estate Other Total 2015 Allowance for loans individually evaluated for impairment $ $ — $ $ — $ Allowance for loans collectively evaluated for impairment $ $ $ $ $ Loans individually evaluated for impairment $ $ $ $ $ Loans collectively evaluated for impairment $ $ $ $ $ Allowance as a percentage of loans individually evaluated for impairment % % — % % — % % Allowance as a percentage of loans collectively evaluated for impairment % % % % % % Allowance as a percentage of total loans evaluated for impairment % % % % % % The aging in terms of unpaid principal balance of the loan portfolio, by classes of loans, as of June 30, 2016 and 2015, is summarized as follows: > 90 days 31-60 days 61-90 days Past Due Non accrual Current Past Due Past Due (Nonaccrual) Total Loans 2016 Classes of loans: Commercial: Operating $ $ $ — $ — $ $ Real estate — — Agricultural: Operating — — Real estate — — — Residential real estate: 1-4 family Home equity — — — Other: Construction and land — — — — Consumer — $ $ $ $ $ $ As a percentage of total loan portfolio % % % % % % > 90 days 31-60 days 61-90 days Past Due Non accrual Current Past Due Past Due (Nonaccrual) Total Loans 2015 Classes of loans: Commercial: Operating $ $ $ — $ — $ $ Real estate — — Agricultural: Operating — — — Real estate — — Residential real estate: 1-4 family — Home equity — Other: Construction and land — — — — Consumer — — $ $ $ $ — $ $ As a percentage of total loan portfolio % % % — % % % For each class of loans, the following summarizes the unpaid principal balance by credit quality indicator as of June 30, 2016 and 2015: Commercial — Commercial — Agricultural — Agricultural — Operating Real Estate Operating Real Estate Total 2016 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ $ $ Good Quality (rating 2) Acceptable Quality (rating 3) Fair Quality (rating 4) Special Mention (rating 5) — — — Substandard (rating 6) Doubtful (rating 7) — — — — — Loss (rating 8) — — — — — $ $ $ $ $ Commercial — Commercial — Agricultural — Agricultural — Operating Real Estate Operating Real Estate Total 2015 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ $ $ Good Quality (rating 2) Acceptable Quality (rating 3) Fair Quality (rating 4) Special Mention (rating 5) — — — — — Substandard (rating 6) Doubtful (rating 7) — — — — — Loss (rating 8) — — — — — $ $ $ $ $ Residential RE — Residential RE — Other — Construction Other — 1-4 Family Home Equity and Land Consumer Total 2016 Delinquency status*: Performing $ $ $ $ $ Nonperforming — $ $ $ $ $ Residential RE — Residential RE — Other — Construction Other — 1-4 Family Home Equity and Land Consumer Total 2015 Delinquency status*: Performing $ $ $ $ $ Nonperforming — $ $ $ $ $ * Performing loans are those which are accruing and less than 31 days past due. Nonperforming loans are those on nonaccrual and accruing loans that are greater than or equal to 31 days past due. At June 30, 2016 and June 30, 2015 there were no loans 90 days past due and still accruing. For commercial loans and agricultural loans, the Company’s credit quality indicator is internally assigned risk ratings. Each commercial loan is assigned a risk rating upon origination. The risk rating is reviewed every 12 months, at a minimum, and on as needed basis depending on the specific circumstances of the loan. For residential real estate and other loans, the Company’s credit quality indicator is performance determined by delinquency status. Delinquency status is updated daily by the Company’s loan system. Loans, by classes of loans, considered to be impaired as of June 30, 2016 and 2015 are summarized as follows: Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized 2016 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ $ $ — $ $ Agricultural: Operating — Real estate — Residential real estate: 1-4 family — Home equity — Other: Consumer — — Impaired loans with specific allowance recorded: Commercial: Operating Real estate — Residential real estate: 1-4 family Home equity Total impaired loans: Commercial: Operating Real estate — Agricultural: Operating — Real estate — Residential real estate: 1-4 family Home equity Other: Consumer — $ $ $ $ $ Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized 2015 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ $ $ — $ $ Real estate — Agricultural: Operating — Real estate — Residential real estate: 1-4 family — Home equity — Other: Consumer — — Impaired loans with specific allowance recorded: Commercial: Operating Residential real estate: Home equity Total impaired loans: Commercial: Operating Real estate — Agricultural: Operating — Real estate — Residential real estate: 1-4 family — Home equity Other: Consumer — $ $ $ $ $ Impaired loans, for which no allowance has been provided as of June 30, 2016 and 2015, have adequate collateral, based on management’s current estimates. The following summarizes the number and recorded investment of troubled debt restructurings (“TDRs”) as of June 30, 2016 and 2015: June 30, 2016 Number Recorded of TDRs Investment Concession — Extension of maturity: Commercial: Operating $ Real estate Agricultural: Operating Real estate Residential real estate: 1-4 family Home equity Other: Consumer $ Concession — Reduction of interest rate below market: Commercial: Operating $ Residential real estate: 1-4 family Home equity $ Total: Commercial: Operating $ Real estate Agricultural: Operating Real estate Residential real estate: 1-4 family Home equity Other: Consumer $ June 30, 2015 Number Recorded of TDRs Investment Concession — Extension of maturity: Commercial: Operating $ Real estate Agricultural: Real estate Residential real estate: 1-4 family Home equity Other: Consumer $ Concession — Reduction of interest rate below market: Commercial: Operating $ Real estate Residential real estate: 1-4 family $ Total: Commercial: Operating $ Real estate Agricultural: Real estate Residential real estate: 1-4 family Home equity Other: Consumer $ The following summarizes the number and investment in TDRs, by type of concession, that were restructured during the years ended June 30, 2016 and 2015: Number Recorded For the year ended June 30, 2016 of TDRs Investment Concession — Extension of maturity: Commercial: Operating $ Agricultural: Operating Real estate Residential real estate: 1-4 family $ Total: Commercial: Operating $ Agricultural: Operating Real estate Residential real estate: 1-4 family $ Number Recorded For the year ended June 30, 2015 of TDRs Investment Concession — Extension of maturity: Commercial: Operating $ Agricultural: Real estate $ Residential real estate: 1-4 family $ $ Concession - Reduction of interest rate below market: Commercial: Operating $ $ Total: Commercial: Operating $ Agricultural: Real estate $ Residential real estate: 1-4 family $ $

Loan Servicing

Loan Servicing	12 Months Ended
	Jun. 30, 2016
Loan Servicing
Loan Servicing	Note 4. Loan Servicing Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of these loans were approximately $100,745,000 and $91,015,000 at June 30, 2016 and 2015, respectively. Included in other assets are approximately $701,000 and $595,000 of mortgage servicing rights at June 30, 2016 and 2015, respectively. During the years ended June 30, 2016 and 2015, the Company sold approximately $28,507,000 and $28,944,000, respectively, of fixed-rate loans secured by one-to-four family residential real estate, which resulted in a pre-tax gain on the sale of approximately $750,000 and $722,000 for years ended June 30, 2016 and 2015, respectively. The Company entered into an agreement with the FHLB to originate mortgage loans on behalf of the FHLB and to sell closed loans to the FHLB under the FHLB Mortgage Partnership Finance (“MPF”) program. Under the terms of the agreement, the Company retains a portion of the credit risk associated with each conventional loan pool under a risk-sharing agreement. The Company’s credit losses are capped by the credit enhancement amount established for each pool of loans. Losses beyond that cap are absorbed by the FHLB. At June 30, 2016 and 2015, the amount of conventional loans outstanding that were originated and sold to the FHLB in the MPF was $20,078,590 and $18,953,634, respectively, with possible credit enhancement losses capped at $1,035,414 and $1,143,402 at June 30, 2016 and 2015, respectively. The Company has no history of losses and no losses were accrued in the Company’s consolidated financial statements at June 30, 2016 and 2015.

Accrued Interest Receivable

Accrued Interest Receivable	12 Months Ended
	Jun. 30, 2016
Accrued Interest Receivable
Accrued Interest Receivable	Note 5. Accrued Interest Receivable Accrued interest receivable at June 30 is summarized as follows: 2016 2015 Time deposits with other financial institutions $ — $ Securities Loans $ $

Premises and Equipment, Net

Premises and Equipment, Net	12 Months Ended
	Jun. 30, 2016
Premises and Equipment, Net
Premises and Equipment, Net	Note 6. Premises and Equipment, Net Premises and equipment, net at June 30 are as follows: 2016 2015 Land and land improvements $ $ Buildings and improvements Furniture and equipment Computer equipment Vehicles Less accumulated depreciation $ $ Depreciation expense was $343,651 and $319,843 for the years ended June 30, 2016 and 2015, respectively.

Deposits

Deposits	12 Months Ended
	Jun. 30, 2016
Deposits
Deposits	Note 7. Deposits Deposits as of June 30 are as follows: 2016 2015 Noninterest-bearing demand $ $ Interest-bearing NOW Money market Savings Certificates of deposit $ $ Certificates of deposit of $250,000 or more were approximately $3,866,000 and $2,736,000 at June 30, 2016 and 2015, respectively. At June 30, 2016, the scheduled maturities of certificates of deposit are as follows: Year Ending June 30, 2017 $ 2018 2019 2020 2021 and beyond $ Interest expense on deposit accounts is summarized as follows for the years ended June 30: 2016 2015 Interest-bearing NOW $ $ Money market Savings Certificates of deposit $ $

Federal Home Loan Bank Borrowin

Federal Home Loan Bank Borrowings	12 Months Ended
	Jun. 30, 2016
Federal Home Loan Bank Borrowings
Federal Home Loan Bank Borrowings	Note 8. Federal Home Loan Bank Borrowings and Other Borrowings At June 30, 2016 and 2015 the Company had not outstanding borrowings with the FHLB of Topeka. The Company maintains a collateral pledge agreement covering secured advances whereby the Company has agreed to pledge certain real estate loans to secure advances from the FHLB of Topeka. All stock in the FHLB of Topeka is pledged as additional collateral for these advances. At June 30, 2016 and 2015, approximately $49.5 million and $41.0 million, respectively, of real estate loans collateralized the advances. At June 30, 2016, the Company had the ability to borrow an additional $47.1 million in FHLB advances. The Company has an unsecured line of credit with Midwest Independent Bank and Pacific Cost Bankers Bank. At June 30, 2016 the Company had no outstanding balance on these lines of credit. At June 30, 2016, the Company had the ability to borrow $5.0 million from Midwest Independent Bank and $4.0 million from Pacific Coast Bankers Bank.

Regulatory Matters

Regulatory Matters	12 Months Ended
	Jun. 30, 2016
Regulatory Matters
Regulatory Matters	Note 9. Regulatory Matters The Bank is subject to 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 Company’s consolidated 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 regulators about components, risk weightings, and other factors. The prompt corrective action regulations provide five classifications, including well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If only adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and plans for capital restoration are required. Management believes, as of June 30, 2016, that the Bank meets all capital adequacy requirements to which it is subject and is classified as well capitalized. Actual capital levels and minimum required levels for the Bank were: Minimum Required to Be Well Capitalized Minimum Required for Under Prompt Capital Adequacy Corrective Action Purposes Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio June 30, 2016 Total capital (to risk-weighted assets) $ 28,977 14.7 % $ % $ % Common equity Tier 1 capital (to risk-weighted assets) 26,500 13.4 % % % Tier 1 (core) capital (to risk-weighted assets) 26,500 13.4 % % % Tier 1 (core) capital (to adjusted total assets) 26,500 11.6 % % % June 30, 2015 Total capital (to risk-weighted assets) $ % $ % $ % Common equity Tier 1 capital (to risk-weighted % % % Tier 1 (core) capital (to risk-weighted assets) % % % Tier 1 (core) capital (to adjusted total assets) % % % Federal regulations require the Bank to comply with a Qualified Thrift Lender (“QTL”) test, which requires that 65% of assets be maintained in housing-related finance and other specified assets. If the QTL test is not met, limits are placed on growth, branching, new investment, FHLB advances, and dividends or the institution must convert to a commercial bank charter. Management believes the QTL test has been met. In July 2013, the Federal Reserve Board and the Federal Deposit Insurance Corporation issued final rules implementing the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act changes. The rules revised minimum capital requirements and adjusted prompt corrective action thresholds. The final rules revised the regulatory capital elements, added a new common equity Tier 1 capital ratio, increased the minimum Tier 1 capital ratio requirement, and implemented a new capital conservation buffer. The rules also permitted certain banking organizations to retain, through a one-time election, the existing treatment for accumulated other comprehensive income. Management chose the one-time election to retain the existing treatment. The final rules took effect for community banks on January 1, 2015, subject to a transition period for certain parts of the rules.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2016
Income Taxes
Income Taxes	Note 10. Income tax expense for the year ended June 30 is as follows: 2016 2015 Current: Federal $ $ State Deferred: Federal $ $ A reconciliation of the provision for income taxes computed at the statutory federal corporate tax rate of 34% to the income tax expense in the statements of income for the year ended June 30 is as follows: 2016 2015 Provision computed at the statutory federal tax rate $ $ State income taxes, net of federal tax Release of unearned ESOP shares and stock awards Nondeductible expenses Valuation allowance adjustment — Return-to-provision, net Other Total income tax expense $ $ Retained earnings at June 30, 2016 and 2015 include certain historical additions to bad debt reserves of approximately $2,132,000 for which no deferred federal income tax liability has been recorded. This amount represents an allocation of income to bad debt deductions for tax purposes alone. If, in the future, this portion of retained earnings is used for any purpose other than to absorb bad debt losses, federal taxes would be imposed at the then-applicable rates. At June 30, 2016, the Company had federal net operating loss carryforwards of approximately $1.7 million which will expire in the fiscal years ending June 30, 2029 through 2032. The net deferred tax asset at June 30 is as follows: 2016 2015 Gross deferred tax assets: Allowance for loan losses $ $ Net operating loss carryover General business credits Foreclosed asset writedowns Unrealized loss on securities — Other Gross deferred tax liabilities: Additions in excess of base year loan reserve Depreciation FHLB stock dividends Unrealized gain on securities — Other Valuation allowance for deferred tax assets — Net deferred tax asset $ $ No significant income tax uncertainties were identified. Therefore, the Company recognized no adjustment for unrecognized income tax benefits during the years ended June 30, 2016 and 2015. Corporate tax returns for the 2013 through 2015 years remain open to examination by taxing authorities. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in noninterest expenses. During the years ended June 30, 2016 and 2015, there were no interest and penalties recognized, nor were any balances for the payment of interest and penalties accrued at June 30, 2016 and 2015.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Jun. 30, 2016
Employee Benefit Plan
Employee Benefit Plan	Note 11. Employee Benefit Plans The Company has a 401(k) and profit sharing plan (the “Plans”) covering substantially all employees. Annual contributions to the Plans are made at the discretion of and determined by the Board of Directors. Participant interests are vested over a period from one to five years of service. Contributions were made of $100,000 and $81,000 for the years ended June 30, 2016 and 2015, respectively. On November 8, 2005, the Company adopted an employee stock ownership plan (the “ESOP”) for the benefit of substantially all employees. The ESOP borrowed $1,292,620 from the Company and used those funds to acquire 129,262 shares of the Company’s stock in connection with the reorganization at a price of $10.00 per share. On July 8, 2015, the ESOP borrowed $951,912 from the Company and used the funds to acquire 118,989 shares of the Company’s stock in connection with the stock offering at a price of $8.00 per share. Shares purchased by the ESOP with the loan proceeds are held in a suspense account and are allocated to ESOP participants on a pro rata basis as principal and interest payments are made by the ESOP to the Company. The loan is secured by shares purchased with the loan proceeds and will be repaid by the ESOP with funds from the Company’s discretionary contributions to the ESOP and earnings on ESOP assets. Annual principal and interest payments for the note dated November 8, 2005 are made by the ESOP prior to the calendar year December 31, 2015. Annual principal and interest payments from the note dated November 8, 2005 are approximately $145,000 until maturity at December 31, 2019. Annual principal and interest payments from the note dated July 8, 2015 are approximately $65,000 until maturity at July 8, 2035. As shares are released from collateral, the Company will report compensation expense equal to the current market price of the shares and the shares will become outstanding for earnings-per-share computations. Dividends on allocated ESOP shares reduce retained earnings; dividends on unearned ESOP shares reduce accrued interest. Because participants may require the Company to purchase their ESOP shares upon termination of their employment, the fair value of all earned and allocated ESOP shares may become a liability. The ESOP has a plan year-end of December 31. The Company has recorded compensation expense of $105,645 and $57,516 for shares that were released and committed to be released for the years ended June 30, 2016 and 2015, respectively. Shares held by the ESOP at June 30 were as follows: 2016 2015 Allocated shares Shares allocated to be released Unearned ESOP shares Total ESOP shares Fair value of unearned ESOP shares $ $ Fair value of allocated shares subject to repurchase obligation $ $ The Company approved the Equitable Financial Corp. 2006 Equity Incentive Plan in November 2006 which provides for awards of stock options and restricted stock to officers, employees and directors. The cost of the plan is based on the fair value of the awards on the grant date. The fair value of stock is based on the closing price of the Company’s stock on the grant date. The cost of the awards are being recognized over the five-year vesting periods during which participants are required to provide services in exchange for the awards. The maximum number of shares authorized under the plan is 176,297 stock options and 70,519 shares of restricted stock to employees and directors. The number of shares has been adjusted for the conversion ratio taking effect in July 2015. As of June 30, 2016 no stock options have been awarded. Restricted stock awards are accounted for as fixed grants using the fair value of the Company’s stock at the time of the grant. Unvested restricted stock awards may not be disposed of or transferred during the vesting period. Restricted stock awards carry with them the right to receive dividends. Fiscal year ended June 30, 2015 activity in restricted stock awards has not been presented as the activity was deemed immaterial. The table below represents the restricted stock award activity for the period shown: Service-Based Weighted Stock Grant Date Awards Fair Value Non-vested at July 1, 2015 Conversion for stock offering — Granted Vested Non-vested at June 30, 2016

Earnings per Share

Earnings per Share	12 Months Ended
	Jun. 30, 2016
Earnings per Share
Earnings per Share	Note 12. Earnings per Share Amounts reported in earnings per share reflect earnings available to common stockholders for the period divided by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per share is calculated by dividing earnings available to common stockholders for the period by the sum of the weighted average common shares outstanding and the weighted average dilutive shares. The following table presents a reconciliation of the components used to compute basic earnings per share for the years ended June 30: 2016 2015 Weighted average common shares outstanding Net income available to common stockholders $ $ Basic earnings per share $ $ The following table presents a reconciliation of the components used to compute diluted earnings per share for the years ended June 30: 2016 2015 Weighted average common shares outstanding Dilutive effect of net additional shares from restricted stock awards Weighted average number of shares outstanding Net income available to common stockholders $ $ Diluted earnings per share $ $

Loan Commitments and Other Rela

Loan Commitments and Other Related Activities	12 Months Ended
	Jun. 30, 2016
Loan Commitments and Other Related Activities
Loan Commitments and Other Related Activities	Note 13. Loan Commitments and Other Related Activities The Company is party to various financial instruments with off-balance-sheet risk. The Company uses these financial instruments in the normal course of business to meet the financing needs of customers and to effectively manage exposure to interest rate risk. These financial instruments include commitments to extend credit, standby letters of credit, and unused lines of credit. When viewed in terms of the maximum exposure, these instruments may involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. Credit risk is the possibility that a counterparty to a financial instrument will be unable to perform its contractual obligations. Interest rate risk is the possibility that, due to changes in economic conditions, the Company’s net interest income will be adversely affected. The following is a summary of the contractual or notional amount of each significant class of off-balance-sheet financial instruments outstanding. The Company’s exposure to credit loss in the event of nonperformance by the counterparty for commitments to extend credit, standby letters of credit, and unused lines of credit is represented by the contractual or notional amount of these instruments. The contractual or notional amounts as of June 30 are as follows: 2016 2015 Financial instruments wherein contractual amounts represent credit risk: Commitments to extend credit $ $ Standby letters of credit Unused lines of credit At June 30, 2016, fixed-rate commitments were approximately $19,279,000. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary, by the Company upon extension of credit, is based on management’s credit evaluation of the counterparty. The collateral held varies but primarily consists of single-family residential real estate. The Company is party to an operating lease for a branch facility, with expiration in June 2017. Future commitments under the operating lease approximate the following: Year Ending June 30, 2017 $ Rental expense, included in occupancy and equipment expense in the consolidated statements of income, totaled approximately $89,000 and $125,000 for the years ended June 30, 2016 and 2015, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jun. 30, 2016
Fair Value Measurements
Fair Value Measurements	Note 14. Fair Value Measurements The Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification defines fair value, establishes a framework for measuring fair value and requires disclosure of fair value measurements. The fair value hierarchy set forth in the Topic is as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. There were no transfers between levels during the years ended June 30, 2016 and 2015, nor were there any changes in valuation techniques used for assets or liabilities measured at fair value at June 30, 2016 and 2015. Assets and liabilities recorded at fair value on a recurring basis : A description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below: Securities Available-for-Sale — Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities would include U.S. agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. The following tables summarize assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Fair Value Measurement at June 30, 2016 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Total Level 1 Level 2 Level 3 Assets Securities available-for-sale $ $ — $ $ — Fair Value Measurement at June 30, 2015 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Total Level 1 Level 2 Level 3 Assets Securities available-for-sale $ $ — $ $ — Assets and liabilities recorded at fair value on a nonrecurring basis : A description of the valuation methodologies used for assets and liabilities measured at fair value on a nonrecurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Impaired Loans — From time to time, a loan is considered impaired and an allowance for credit losses is established. The specific reserves for collateral dependent impaired loans are based on the fair value of the collateral less estimated costs to sell. The fair value of collateral was determined based on appraisals. In some cases, adjustments were made to the appraised values due to various factors including age of the appraisal, age of comparables included in the appraisal, and known changes in the market and in the collateral. When significant adjustments were based on unobservable inputs, the resulting fair value measurement has been categorized as a Level 3 measurement. Foreclosed Assets — Foreclosed assets are carried at estimated fair value of the property, less disposal costs. The fair value of the property is determined based upon appraisals. As with impaired loans, if significant adjustments are made to the appraised value, based on unobservable inputs, the resulting fair value measurement has been categorized as a Level 3 measurement. At June 30, 2016 and June 30, 2015 the fair value of impaired loans and foreclosed assets were immaterial. The Financial Instruments Topic of the FASB Accounting Standards Codification requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. Fair value is determined under the framework discussed above. The Topic excludes all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The following methods and assumptions used in estimating fair value disclosure for financial instruments are described below: Cash and due from financial institutions — For cash and due from financial institutions, the current carrying amount is a reasonable estimate of fair value. Interest-earning deposits — For interest-earning deposits, the current carrying amount is a reasonable estimate of fair value. Time deposits with financial institutions — The fair value of fixed rate time deposits is estimated by discounting the future cash flows using the current rates for the same remaining maturities. The fair value of variable rate time deposits approximates carrying value. Securities — The fair value of securities is determined using quoted prices, when available in an active market. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or a discounted cash flows model. Federal Home Loan Bank stock — For restricted equity securities, the carrying value approximates fair value. Loans, net — The fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The fair value of variable rate loans approximates carrying value. Deposits — The carrying value of noninterest-bearing deposits approximates fair value. The fair value of fixed rate deposits is estimated by discounting the future cash flows using the current rates for the same remaining maturities. Federal Home Loan Bank borrowings — The estimated fair value of fixed rate advances from the FHLB is determined by discounting the future cash flows of existing advances using rates currently available on advances from the FHLB having similar characteristics. Adjustable rate advances’ carrying value approximates fair value. Accrued interest — The carrying amounts of accrued interest approximate fair value. Off-balance sheet items — The fair value of off-balance-sheet items is based on current fees or cost that would be charged to enter into or terminate such arrangements. These were not considered material and are not presented in the below tables. The estimated fair value of financial instruments is as follows: Fair Value Carrying Estimated June 30, 2016 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ $ Securities available-for-sale See previous table Securities held-to-maturity Level 2 Federal Home Loan Bank stock Level 1 Loans, net Level 2 Accrued interest receivable Level 1 Financial liabilities: Noninterest-bearing deposits Level 2 Interest-bearing deposits Level 2 Accrued interest payable and other liabilities Level 1 Fair Value Carrying Estimated June 30, 2015 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ $ Time deposits with financial institutions Level 2 Securities available-for-sale See previous table Securities held-to-maturity Level 2 Federal Home Loan Bank stock Level 1 Loans, net Level 2 Accrued interest receivable Level 1 Financial liabilities: Noninterest-bearing deposits Level 2 Interest-bearing deposits Level 2 Accrued interest payable and other liabilities Level 1

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)	Note 15. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) components at June 30 were as follows: 2016 2015 Unrealized holding gains (losses) on securities available-for-sale $ $ Tax benefit $ $

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
	Jun. 30, 2016
Transactions with Related Parties
Transactions with Related Parties	Note 16. Transactions with Related Parties In the ordinary course of business, the Company granted loans to principal officers, directors, and their affiliates. Annual activity consisted of the following for the year ended June 30: 2016 2015 Beginning balance $ $ New loans or transfers in Repayments or transfers out Ending balance $ $ Deposits from principal officers, directors, and their affiliates at June 30, 2016 and 2015 approximated $364,000 and $328,000, respectively.

Condensed Financial Information

Condensed Financial Information (Holding Company Only)	12 Months Ended
	Jun. 30, 2016
Condensed Financial Information (Holding Company Only)
Condensed Financial Information (Holding Company Only)	Note 17. Condensed Financial Information (Holding Company Only) Condensed Balance Sheets June 30, 2016 2015 Assets Cash and due from financial institutions $ $ Investment in Bank Other assets Total assets $ $ Liabilities and Stockholders’ Equity Other liabilities $ $ Stockholders' equity Total liabilities and stockholders’ equity $ $ Condensed Statements of Income Year Ended June 30, 2016 2015 Interest income $ $ Professional fees and other expenses Loss before income tax and equity in undistributed net income of subsidiary Income tax benefit Loss before equity in undistributed net income of subsidiary Equity in undistributed net income of subsidiary Net income $ $ Comprehensive income $ $ Condensed Statements of Cash Flows Year Ended June 30, 2016 2015 Cash Flows from Operating Activities: Net income $ $ Items not providing cash Net cash used by operating activities Cash Flows from Investing Activities: Downstream capital to Bank $ $ — Net cash used by investing activities — Cash Flows from Financing Activities: ESOP Loan Finance — Proceeds in advance of offering Net cash provided/(used) by financing activities Increase/(Decrease) in cash and cash equivalents Cash and Cash Equivalents Beginning Ending $ $

Nature of Business and Signif26

Nature of Business and Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2016
Nature of Business and Significant Accounting Policies
Principles of consolidation	Principles of consolidation : The accompanying consolidated financial statements include the accounts of Equitable Financial Corp. (the “Company”) and its wholly owned subsidiary, Equitable Bank (the “Bank”). All significant intercompany transactions and balances are eliminated in consolidation.
Stock Conversion	Stock Conversion: On July 8, 2015, Equitable Financial, MHC, the Company’s former federally chartered mutual holding company, consummated its “second step” mutual-to-stock conversion, and the Company consummated its initial stock offering. In the offering, the Company sold 1,983,160 shares of its common stock, par value $0.01 per share, at $8.00 per share in a subscription offering and community offering, including 118,989 shares, equal to 6.0% of the shares sold in the offering, to the Equitable Bank employee stock ownership plan. The cost of conversion and the stock offering were deferred and deducted from the proceeds of the offering. Conversion costs incurred for the stock offering were $1,096,303. In accordance with applicable federal conversion regulations, at the time of the completion of our mutual-to-stock conversion, we established a liquidation account in an amount equal to the Company’s total equity as of the latest balance sheet date in the final prospectus used in the Conversion. Each eligible account holder or supplemental account holder is entitled to a proportionate share of this liquidation account in the event of a complete liquidation of the Bank, and only in such event. This share will be reduced if the eligible account holder’s or supplemental account holder’s deposit balance falls below the amounts on the date of record as of any June 30 and will cease to exist if the account is closed. The liquidation account will never be increased despite any increase after Conversion in the related deposit balance. Following completion of the Conversion, the Bank may not declare, pay a dividend on, or repurchase any of its capital stock of the Bank, if the effect thereof would cause retained earnings to be reduced below the liquidation account amount or regulatory capital requirements.
Nature of business	Nature of business : The primary business of the Company is the ownership of the Bank. Through the Bank, the Company is engaged in the business of retail banking, with operations conducted through its main office and branches, which are located in Grand Island, North Platte and Omaha, Nebraska. The Bank’s primary services include accepting deposits, making loans and investing in securities.
Use of estimates	Use of estimates : In preparing the accompanying consolidated financial statements, management is required 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 consolidated financial statements and the reported amounts of revenue and expenses for the reporting period. Estimates significant to the consolidated financial statement include the allowance for loan losses, deferred tax valuation allowances, fair values of financial instruments and foreclosed assets. Actual results could differ from those estimates. The allowance for loan losses is inherently subjective as it requires material estimates that are susceptible to significant change. The fair value disclosure of investments and other financial instruments is an estimate that can be computed within a range.
Risks and uncertainties	Risks and uncertainties : Changes in economic conditions in the United States, and more specifically Nebraska, could impact the credit worthiness of the Company’s borrowers and the borrowers’ ability to service their outstanding loans with the Company. Additionally, the Company is subject to interest rate risk in which changes in the interest rate environment could negatively impact the Company’s net interest margin.
Cash flows	Cash flows : Cash and cash equivalents include cash, deposits with other financial institutions with maturities under 90 days when purchased, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions, and advance payments from borrowers for taxes and insurance. Excess cash is held in a fully secured excess balance account with Midwest Independent Bank. The balance at Midwest Independent Bank at June 30, 2016 and 2015 was $12.4 million and $18.5 million, respectively.
Time deposits with financial institutions	Time deposits with financial institutions : Time deposits with financial institutions are carried at cost. At June 30, 2016 there were no time deposits with financial institutions.
Securities	Securities : Securities are classified as held-to-maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Securities are classified as available-for-sale when they might be sold before maturity. Securities classified as available-for-sale are carried at fair value with unrealized holding gains and losses reported in other comprehensive income or loss, net of tax. Interest income is recognized under the interest method and includes amortization of purchase premium and discount. Gains and losses on sales are recorded on the trade date based on the amortized cost of the security sold and determined using the specific identification method. Declines in the fair value of securities available-for-sale below their amortized cost are evaluated to determine whether the loss is temporary or other-than-temporary. If the Company (a) has the intent to sell a debt security or (b) more-likely-than-not will be required to sell the debt security before its anticipated recovery, then the Company recognizes the entire unrealized loss in earnings as an other-than-temporary loss. If neither of these conditions are met, the Company evaluates whether a credit loss exists. The impairment is separated into (a) the amount of the total impairment related to the credit loss and (b) the amount of total impairment related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized in earnings and the amount related to all other factors is recognized in other comprehensive income (loss).
Federal Home Loan Bank stock	Federal Home Loan Bank stock : The Bank is a member of the Federal Home Loan Bank (FHLB) system. Members are required to own a certain amount of stock based on the level of borrowings and other factors and may invest in additional amounts. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment. In accordance with the applicable accounting guidance, the stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: (a) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time this situation has persisted (b) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance (c) the impact of legislative and regulatory changes on the customer base of the FHLB and (d) the liquidity position of the FHLB. With consideration given to the previous criteria, management concluded that the stock was not impaired at June 30, 2016 and June 30, 2015.
Loans, net	Loans, net : Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are stated at their outstanding unpaid principal balances, less an allowance for loan losses, premiums and discounts on loans purchased, and net deferred loan fees/costs. Interest income on loans is recognized over the term of the loan and is calculated using the simple interest method on principal amounts outstanding. Direct loan origination fees and costs are generally being deferred and the net amounts amortized as an adjustment of the related loan’s yield. The Company generally amortizes these amounts over the contractual life. Direct loan origination fees and costs related to loans sold to unrelated third parties are recognized as income or expense in the current consolidated statement of income. The Company’s portfolio segments are as follows: · Commercial · Agricultural · Residential real estate · Other The Company’s classes of loans are as follows: · Commercial – operating · Commercial – real estate · Agricultural – operating · Agricultural – real estate · Residential real estate – 1-4 family · Residential real estate – home equity · Other – construction and land · Other – consumer Generally, for all classes of loans, loans are considered past due when contractual payments are delinquent for 31 days or greater. For all classes of loans, loans will generally be placed on nonaccrual status when the loan has become greater than 90 days past due; or when management believes, after considering collection efforts and other factors, that the borrower’s financial condition is such that collection of interest is doubtful. When a loan is placed on nonaccrual status, payments received will be applied to the principal balance. However, interest may be taken on a cash basis in the event the loan is fully secured and the risk of loss is minimal. Previously recorded but uncollected interest on a loan placed in nonaccrual status is accounted for as follows: if the previously accrued but uncollected interest and the principal amount of the loan is protected by sound collateral value based upon a current, independent qualified appraisal, such interest may remain on the Company’s books. If such interest is not so protected, it is considered a loss with the amount thereof recorded in the current year being reversed against current interest income, and the amount recorded in the prior year being charged against the allowance for possible loan losses. For all classes of loans, nonaccrual loans may be restored to accrual status provided the following criteria are met: · The loan is current, and all principal and interest amounts contractually due have been made, · The loan is well secured and in the process of collection, and Future principal and interest payments are not in doubt.
Troubled debt restructures	Troubled debt restructures : Troubled debt restructuring exists when the Company, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession (either imposed by court order, law, or agreement between the borrower and the Company) to the borrower that it would not otherwise consider. These concessions could include forgiveness of principal, extension of maturity dates, and reduction of stated interest rates or accrued interest. The Company is attempting to maximize its recovery of the balances of the loans through these various concessionary restructurings. See Note 3 for disclosure of the Company’s troubled debt restructurings.
Allowance for loan losses	Allowance for loan losses : For all portfolio segments, the allowance for loan losses is maintained at the level considered adequate by management of the Company to provide for losses that are probable. The allowance is increased by provisions charged to operating expense and reduced by net charge-offs. Subsequent recoveries, if any, are credited to the allowance. In determining the adequacy of the allowance balance, the Company makes continuous evaluations of the loan portfolio and related off-balance sheet commitments, considers current economic conditions, historical loan loss experience, review of specific problem loans and other factors. A discussion of the risk characteristics and the allowance for loan losses by each portfolio segment follows: For commercial loans, the Company focuses on small and mid-sized businesses in their geographical footprint. The Company provides a wide range of commercial loans, including lines of credit for working capital and operational purposes, and term loans for the acquisition of real estate, facilities, equipment and other purposes. Approval is generally based on the following factors: · Sufficient cash flow to support debt repayment; · Ability and stability of current management of the borrower; · Positive earnings and financial trends; · Earnings projections based on reasonable assumptions; · Financial strength of the industry and business; · Value and marketability of collateral. Collateral for commercial loans generally includes accounts receivable, inventory, equipment and real estate. The lending policy specifies approved collateral types and corresponding maximum advance percentages. The value of collateral pledged on loans typically exceeds the loan amount by a margin sufficient to absorb potential erosion of its value in the event of foreclosure and cover the loan amount plus costs incurred to convert it to cash. The lending policy specifies maximum term limits for commercial loans. For term loans, the typical maximum term is 10 years. The lending policy includes guidelines for real estate appraisals, including minimum appraisal standards based on certain transactions. Where the purpose of the loan is to finance depreciable equipment, the term loan generally does not exceed the estimated useful life of the asset. For lines of credit, the typical maximum term is 1 year. However, longer maturities may be approved if the loan is secured by readily marketable collateral. In addition, the Company often takes personal guarantees to help assure repayment. Loans may be made on an unsecured basis if warranted by the overall financial condition of the borrower.   Agricultural loans are subject to underwriting standards and processes similar to commercial loans. The Company provides a wide range of agriculture loans, including lines of credit for working capital and operational purposes, and term loans for the acquisition of real estate, facilities, equipment and other purposes. Approval is generally based on the following factors: · Sufficient cash flow to support debt repayment; · Ability and stability of current management of the borrower; · Positive earnings and financial trends; · Earnings projections based on reasonable assumptions; · Financial strength of the industry and business; and · Value and marketability of collateral. Collateral for agricultural loans generally includes accounts receivable, inventory (typically grain or livestock), equipment and real estate. The lending policy specifies approved collateral types and corresponding maximum advance percentages. The value of collateral pledged on loans typically exceeds the loan amount by a margin sufficient to absorb potential erosion of its value in the event of foreclosure and cover the loan amount plus costs incurred to convert it to cash. The lending policy specifies maximum term limits for agricultural loans. For term loans, the typical maximum term is 10 years. The lending policy includes guidelines for real estate appraisals, including minimum appraisal standards based on certain transactions. Where the purpose of the loan is to finance depreciable equipment, the term loan generally does not exceed the estimated useful life of the asset. For lines of credit, the typical maximum term is 1 year. However, longer maturities may be approved if the loan is secured by readily marketable collateral. In addition, the Company often takes personal guarantees to help assure repayment. Loans may be made on an unsecured basis if warranted by the overall financial condition of the borrower. In some instances for all loans, it may be appropriate to originate or purchase loans that are exceptions to the guidelines and limits established within the lending policy described above and below. In general, exceptions to the lending policy do not significantly deviate from the guidelines and limits established within the lending policy and, if there are exceptions, they are clearly noted as such and specifically identified in loan approval documents. For commercial loans and agricultural loans, the allowance for estimated losses on loans consists of specific and general components. The specific component relates to loans that are classified as impaired, as defined below. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. For commercial loans and agricultural loans, a loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a case-by-case basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. The general component consists of quantitative and qualitative factors and covers non-impaired loans. The quantitative factors are based on historical charge-off experience. The qualitative factors are determined based on an assessment of internal and/or external influences on credit quality that are not fully reflected in the historical loss data. The Company’s credit quality indicator for all loans excluding commercial loans is past due or performance status. The Company’s credit quality indicator for commercial loans is internal risk ratings. For commercial and agriculture loans, the Company utilizes the following internal risk rating scale: 1. Highest Quality – Loans represent a credit extension of the highest quality. Excellent liquidity, management and character in an industry with favorable conditions. High quality financial information, history of strong cash flows and superior collateral including readily marketable assets, prime real estate, U.S. government securities, U.S. government agencies, highly rated municipal bonds, insured savings accounts, and insured certificates of deposit drawn on high-quality financial institutions. 2. Good Quality – Loans which have a sound primary and secondary source of repayment. Strong to good liquidity, management and character in an industry with favorable conditions. Good quality financial information and margins of cash flow coverage is consistently good. Loans may be unsecured, secured by quality (but less readily marketable) assets, high quality real estate or traded stocks, lower grade municipal bonds (which must still be investment grade), and uninsured certificates of deposit on other financial institutions may also be included in this grade. 3. Acceptable Quality – Loans where the borrower is a reasonable credit risk and demonstrates the ability to repay the debt from normal business operations. Good liquidity, management and character in an industry that is more sensitive to external factors. Alternative sources of refinancing may be less available in periods of uncertain economic conditions. Term debt is moderate but cash flow margins fall within bank policy guidelines. Quality of financial information is adequate but is not as detailed and sophisticated as information found on higher-grade loans. Secured by business assets that conform to usual lending parameters for margin and eligibility or real estate that is deemed to be of satisfactory quality in an area that may not be prime but still within viable economic centers. 4. Fair Quality – Loans where the borrower is a reasonable credit risk but shows a more erratic earnings history (a loss may have been realized in the past four years). Liquidity is limited and primary repayment is susceptible to unfavorable external factors. Industry characteristics are generally stable. Borrower is more highly leveraged with increased levels of term debt. Cash flow margins remain adequate but may not fall within the policy guidelines. Quality of financial information is adequate and interim reporting may be required. Secured by business assets with an adequate collateral margin or real estate that is of fair quality and location. Property may have limited alternative uses and may be considered a “special use” facility. 5. Special Mention – Loans in this category have the potential for developing weaknesses that deserve extra attention from the account manager and other management personnel. If the developing weakness is not corrected or mitigated, the ability of the borrower to repay the Company’s debt in the future may deteriorate. This grade should not be assigned to loans that bear certain peculiar risks normally associated with the type of financing involved, unless circumstances have caused the risk to increase to a level higher than would have been acceptable when the credit was originally approved. If a loan’s actual, not potential, weakness or problems are clearly evident and significant it should generally be graded in one of the following grade categories. 6. Substandard – Loans and other credit extensions are considered to be inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. These loans, even if apparently protected by collateral value, have a well-defined weakness or weaknesses that jeopardize the liquidation of debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual loans classified substandard. 7. Doubtful – Loans and other credit extensions have all the weaknesses inherent in those graded “6” with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonably specific pending factors, which may work to the advantage and strengthening of the loan, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include: proposed merger, acquisition, or liquidation actions; capital injection; perfecting liens on collateral and refinancing plans. Loans in this classification should be placed in non-accrual status, with collections applied to principal. 8. Loss – Loans are considered uncollectible and cannot be justified as a viable asset of the Bank. This classification does not mean the loan has absolutely no recovery value. However, it is not prudent to delay writing off this loan even though partial recovery may be obtained in the future. For commercial and agricultural loans or credit relationships with aggregate exposure greater than $250,000, a loan review is required within 12 months of the most recent credit review. The reviews are completed in enough detail to, at a minimum, validate the risk rating. Additionally, the reviews shall determine whether any documentation exceptions exist, appropriate written analysis is included in the loan file, and whether credit policies have been properly adhered to. Many of the residential real estate loans underwritten by the Company conform to the underwriting requirements of Freddie Mac or other secondary market aggregators to allow the Company to resell loans in the secondary market. Servicing rights are retained on many, but not all, of the residential real estate loans sold in the secondary market. The lending policy establishes minimum appraisal and other credit guidelines. Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or market, as determined by outstanding commitments from investors. As of June 30, 2016 and June 30, 2015, loans held for sale were immaterial to the consolidated financial statements. Periodically, the Company originates first mortgage loans for other investors. Generally, the Company receives fees equivalent to a stated percentage of the loan amount. This fee is recognized as income at the time of closing. From time to time, the Company also originates loans for sale in the secondary market. Gain on sale of loans in the secondary market is included in noninterest income. The Company provides many types of consumer and other loans, including motor vehicle, home improvement, home equity, signature loans and small personal credit lines. The lending policy addresses specific credit guidelines by consumer loan type. For residential real estate loans and consumer and other loans, these large groups of smaller balance homogenous loans are collectively evaluated for impairment. In estimating the allowance for loan losses for these loans, the Company applies quantitative and qualitative factors on a portfolio segment basis. Quantitative factors are based on historical charge-off experience and qualitative factors are based on an assessment of internal and/or external influences on credit quality that are not fully reflected in the historical loss data. Accordingly, the Company generally does not separately identify individual residential real estate loans and/or consumer and other loans for impairment disclosures, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower. Troubled debt restructures are considered impaired loans and are subject to the same allowance methodology as described above for impaired loans by portfolio segment.
Transfers of financial assets	Transfers of financial assets : Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from the Company; (2) the transferee has the right to pledge or exchange the assets it received, and no condition both constrains the transferee from taking advantage of its right to pledge or exchange and provides more than a trivial benefit to the transferor; and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets.
Premises and equipment	Premises and equipment : Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is included in noninterest expense and is computed on 25 to 40 years for buildings and improvements that extend the life of the original building, 10 to 20 years for routine building improvements, 5 to 15 years for furniture and equipment, 5 years for vehicles, and 2 to 5 years for computer equipment. The cost of maintenance and repairs is charged to expense as incurred.
Long-term assets	Long-term assets : Premises and equipment and other long-term assets are reviewed for impairment when events indicate that their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. No impairment has been recognized by the Company for the years ended June 30, 2016 and 2015.
Foreclosed assets	Foreclosed assets : Assets acquired through foreclosure are initially recorded at fair value, less estimated costs to sell, establishing a new cost basis. If the fair value less costs to sell is less than the respective loan balance, a charge against the allowance for loan losses is recorded upon property acquisition. Declines in property value subsequent to acquisition are charged to operations. Holding costs are expensed as incurred.
Brokerage fee income	Brokerage fee income : Acting as an agent, the Company earns brokerage income by buying and selling securities on behalf of its customers through independent third parties and earning fees on the transactions. These fees are recorded on the settlement date, which is not materially different than the trade date.
Income taxes	Income taxes : Income tax expense or benefit is the sum of the current year income tax due or refundable and the change in the deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax consequence of temporary differences between the carrying amounts and tax basis of assets and liabilities, computed using enacted tax rates. A valuation allowance reduces deferred tax assets to the amount expected to be realized. The Company follows the guidance on accounting for uncertainty in income taxes which allows the Company to recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. When applicable, the Company recognizes interest and penalties on income taxes as a component of income tax (benefit) expense.
Employee Stock Ownership Plan	Employee Stock Ownership Plan : The cost of shares issued to the Employee Stock Ownership Plan (“ESOP”) but not yet allocated to participants is presented in the consolidated balance sheet as a reduction of stockholders’ equity. Compensation expense is recorded based on the market price of the shares as the shares are committed to be released for allocation to participant accounts. Because participants may require the Company to purchase their ESOP shares upon termination of their employment, the appraised fair value of all earned and allocated ESOP shares is reclassified from stockholders’ equity.
Loan commitments and related financial instruments	Loan commitments and related financial instruments : Financial instruments include off-balance-sheet credit instruments, such as commitments to make loans and standby letters of credit, issued to meet customer-financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.
Fair value of financial instruments	Fair value of financial instruments : Fair values of financial instruments are estimated using relevant market value information and other assumptions, as more fully disclosed in Note 14. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.
Earnings per share	Earnings per share : Basic earnings per share is based on net income divided by the weighted average number of shares outstanding during the period, including allocated and committed to be released ESOP shares. Diluted earnings per share shows the dilutive effect, if any, of additional common shares issuable under stock options or awards.
Loss contingencies	Loss contingencies : Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are such matters that will have a material effect on the consolidated financial statements.
Comprehensive income (loss)	Comprehensive income (loss) : Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains (losses) on securities available-for-sale, net of tax.
Recent accounting pronouncements	Recent accounting pronouncements : In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this Update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. This ASU is not expected to have a material impact on the Company’s consolidated financial statements. On February 25, 2016, the FASB issued ASU 2016-02, intended to improve financial reporting about leasing transactions. The ASU is effective for the Company with the interim period beginning January 1, 2019. We are currently evaluating the effect of this proposal to our financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. The purpose of this Update is to simplify the accounting for share-based payment award transactions. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. This ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments. The purpose of this Update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity. The Update replaces the current incurred loss methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This ASU is expected to have an impact on the Company’s consolidated financial statements. The Company is currently evaluating the effect this will have on its financial statements.

Securities (Tables)

Securities (Tables)	12 Months Ended
	Jun. 30, 2016
Securities
Schedule of securities available-for-sale	Gross Gross Amortized Unrealized Unrealized June 30, 2016 Cost Gains Losses Fair Value Residential mortgage-backed securities $ $ $ — $ Gross Gross Amortized Unrealized Unrealized June 30, 2015 Cost Gains Losses Fair Value Residential mortgage-backed securities $ $ — $ $
Schedule of securities held-to-maturity	Gross Gross Amortized Unrealized Unrealized June 30, 2016 Cost Gains Losses Fair Value Residential mortgage-backed securities $ $ $ — $ Municipal securities — $ $ $ — $ Gross Gross Amortized Unrealized Unrealized June 30, 2015 Cost Gains Losses Fair Value Residential mortgage-backed securities $ $ $ — $ Municipal securities — $ $ $ — $
Schedule of amount of securities pledged	June 30, 2016 June 30, 2015 Securities available-for-sale, at fair value $ $ Securities held-to-maturity, at amortized cost

Loans (Tables)

Loans (Tables)	12 Months Ended
	Jun. 30, 2016
Loans
Summary of loans	2016 2015 Commercial: Operating $ $ Real estate Agricultural: Operating Real estate Residential real estate: 1-4 family Home equity Other: Construction and land Consumer Total loans Deferred loan origination costs, net Allowance for loan losses Loans, net $ $
Summary of changes in the allowance for loan losses by portfolio segment	Residential Commercial Agricultural Real Estate Other Total 2016 Balance, beginning $ $ $ $ $ Provision charged to expense Recoveries — Loans charged off — — — Balance, ending $ $ $ $ $ Residential Commercial Agricultural Real Estate Other Total 2015 Balance, beginning $ $ $ $ $ Provision charged to expense Recoveries — Loans charged off — — Balance, ending $ $ $ $ $
Summary of allowance for loan losses by impairment evaluation and portfolio segment	Residential Commercial Agricultural Real Estate Other Total 2016 Allowance for loans individually evaluated for impairment $ $ — $ $ — $ Allowance for loans collectively evaluated for impairment $ $ $ $ $ Loans individually evaluated for impairment $ $ $ $ $ Loans collectively evaluated for impairment $ $ $ $ $ Allowance as a percentage of loans individually evaluated for impairment % % — % % — % % Allowance as a percentage of loans collectively evaluated for impairment % % % % % % Allowance as a percentage of total loans evaluated for impairment % % % % % % Residential Commercial Agricultural Real Estate Other Total 2015 Allowance for loans individually evaluated for impairment $ $ — $ $ — $ Allowance for loans collectively evaluated for impairment $ $ $ $ $ Loans individually evaluated for impairment $ $ $ $ $ Loans collectively evaluated for impairment $ $ $ $ $ Allowance as a percentage of loans individually evaluated for impairment % % — % % — % % Allowance as a percentage of loans collectively evaluated for impairment % % % % % % Allowance as a percentage of total loans evaluated for impairment % % % % % %
Summary of aging in terms of unpaid balance of the loan portfolio by classes of loans	> 90 days 31-60 days 61-90 days Past Due Non accrual Current Past Due Past Due (Nonaccrual) Total Loans 2016 Classes of loans: Commercial: Operating $ $ $ — $ — $ $ Real estate — — Agricultural: Operating — — Real estate — — — Residential real estate: 1-4 family Home equity — — — Other: Construction and land — — — — Consumer — $ $ $ $ $ $ As a percentage of total loan portfolio % % % % % % > 90 days 31-60 days 61-90 days Past Due Non accrual Current Past Due Past Due (Nonaccrual) Total Loans 2015 Classes of loans: Commercial: Operating $ $ $ — $ — $ $ Real estate — — Agricultural: Operating — — — Real estate — — Residential real estate: 1-4 family — Home equity — Other: Construction and land — — — — Consumer — — $ $ $ $ — $ $ As a percentage of total loan portfolio % % % — % % %
Summary of unpaid principal balance by credit quality indicator	Commercial — Commercial — Agricultural — Agricultural — Operating Real Estate Operating Real Estate Total 2016 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ $ $ Good Quality (rating 2) Acceptable Quality (rating 3) Fair Quality (rating 4) Special Mention (rating 5) — — — Substandard (rating 6) Doubtful (rating 7) — — — — — Loss (rating 8) — — — — — $ $ $ $ $ Commercial — Commercial — Agricultural — Agricultural — Operating Real Estate Operating Real Estate Total 2015 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ $ $ Good Quality (rating 2) Acceptable Quality (rating 3) Fair Quality (rating 4) Special Mention (rating 5) — — — — — Substandard (rating 6) Doubtful (rating 7) — — — — — Loss (rating 8) — — — — — $ $ $ $ $ Residential RE — Residential RE — Other — Construction Other — 1-4 Family Home Equity and Land Consumer Total 2016 Delinquency status*: Performing $ $ $ $ $ Nonperforming — $ $ $ $ $ Residential RE — Residential RE — Other — Construction Other — 1-4 Family Home Equity and Land Consumer Total 2015 Delinquency status*: Performing $ $ $ $ $ Nonperforming — $ $ $ $ $ * Performing loans are those which are accruing and less than 31 days past due. Nonperforming loans are those on nonaccrual and accruing loans that are greater than or equal to 31 days past due.
Summary of loans, by classes of loans, considered to be impaired	Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized 2016 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ $ $ — $ $ Agricultural: Operating — Real estate — Residential real estate: 1-4 family — Home equity — Other: Consumer — — Impaired loans with specific allowance recorded: Commercial: Operating Real estate — Residential real estate: 1-4 family Home equity Total impaired loans: Commercial: Operating Real estate — Agricultural: Operating — Real estate — Residential real estate: 1-4 family Home equity Other: Consumer — $ $ $ $ $ Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized 2015 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ $ $ — $ $ Real estate — Agricultural: Operating — Real estate — Residential real estate: 1-4 family — Home equity — Other: Consumer — — Impaired loans with specific allowance recorded: Commercial: Operating Residential real estate: Home equity Total impaired loans: Commercial: Operating Real estate — Agricultural: Operating — Real estate — Residential real estate: 1-4 family — Home equity Other: Consumer — $ $ $ $ $
Summary of the number and recorded investment of troubled debt restructurings ("TDRs")	June 30, 2016 Number Recorded of TDRs Investment Concession — Extension of maturity: Commercial: Operating $ Real estate Agricultural: Operating Real estate Residential real estate: 1-4 family Home equity Other: Consumer $ Concession — Reduction of interest rate below market: Commercial: Operating $ Residential real estate: 1-4 family Home equity $ Total: Commercial: Operating $ Real estate Agricultural: Operating Real estate Residential real estate: 1-4 family Home equity Other: Consumer $ June 30, 2015 Number Recorded of TDRs Investment Concession — Extension of maturity: Commercial: Operating $ Real estate Agricultural: Real estate Residential real estate: 1-4 family Home equity Other: Consumer $ Concession — Reduction of interest rate below market: Commercial: Operating $ Real estate Residential real estate: 1-4 family $ Total: Commercial: Operating $ Real estate Agricultural: Real estate Residential real estate: 1-4 family Home equity Other: Consumer $
Summary of the number and investment in TDRs by type of concession that were restructured	Number Recorded For the year ended June 30, 2016 of TDRs Investment Concession — Extension of maturity: Commercial: Operating $ Agricultural: Operating Real estate Residential real estate: 1-4 family $ Total: Commercial: Operating $ Agricultural: Operating Real estate Residential real estate: 1-4 family $ Number Recorded For the year ended June 30, 2015 of TDRs Investment Concession — Extension of maturity: Commercial: Operating $ Agricultural: Real estate $ Residential real estate: 1-4 family $ $ Concession - Reduction of interest rate below market: Commercial: Operating $ $ Total: Commercial: Operating $ Agricultural: Real estate $ Residential real estate: 1-4 family $ $

Accrued Interest Receivable (Ta

Accrued Interest Receivable (Tables)	12 Months Ended
	Jun. 30, 2016
Accrued Interest Receivable
Schedule of components of accrued interest receivable	2016 2015 Time deposits with other financial institutions $ — $ Securities Loans $ $

Premises and Equipment, Net (Ta

Premises and Equipment, Net (Tables)	12 Months Ended
	Jun. 30, 2016
Premises and Equipment, Net
Schedule of premises and equipment, net	2016 2015 Land and land improvements $ $ Buildings and improvements Furniture and equipment Computer equipment Vehicles Less accumulated depreciation $ $

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Jun. 30, 2016
Deposits
Schedule of deposits	2016 2015 Noninterest-bearing demand $ $ Interest-bearing NOW Money market Savings Certificates of deposit $ $
Schedule of maturities of certificates of deposit	Year Ending June 30, 2017 $ 2018 2019 2020 2021 and beyond $
Summary of interest expense on deposit accounts	2016 2015 Interest-bearing NOW $ $ Money market Savings Certificates of deposit $ $

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Jun. 30, 2016
Regulatory Matters
Summary of bank's actual capital levels and minimum required levels	Minimum Required to Be Well Capitalized Minimum Required for Under Prompt Capital Adequacy Corrective Action Purposes Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio June 30, 2016 Total capital (to risk-weighted assets) $ 28,977 14.7 % $ % $ % Common equity Tier 1 capital (to risk-weighted assets) 26,500 13.4 % % % Tier 1 (core) capital (to risk-weighted assets) 26,500 13.4 % % % Tier 1 (core) capital (to adjusted total assets) 26,500 11.6 % % % June 30, 2015 Total capital (to risk-weighted assets) $ % $ % $ % Common equity Tier 1 capital (to risk-weighted % % % Tier 1 (core) capital (to risk-weighted assets) % % % Tier 1 (core) capital (to adjusted total assets) % % %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2016
Income Taxes
Schedule of income tax expense	2016 2015 Current: Federal $ $ State Deferred: Federal $ $
Schedule of reconciliation of the provision for income taxes computed at the statutory federal corporate tax rate to the income tax expense in the statements of income	2016 2015 Provision computed at the statutory federal tax rate $ $ State income taxes, net of federal tax Release of unearned ESOP shares and stock awards Nondeductible expenses Valuation allowance adjustment — Return-to-provision, net Other Total income tax expense $ $
Schedule of net deferred tax asset	2016 2015 Gross deferred tax assets: Allowance for loan losses $ $ Net operating loss carryover General business credits Foreclosed asset writedowns Unrealized loss on securities — Other Gross deferred tax liabilities: Additions in excess of base year loan reserve Depreciation FHLB stock dividends Unrealized gain on securities — Other Valuation allowance for deferred tax assets — Net deferred tax asset $ $

Employee Benefit Plan (Tables)

Employee Benefit Plan (Tables)	12 Months Ended
	Jun. 30, 2016
Employee Benefit Plan
Summary of ESOP shares	2016 2015 Allocated shares Shares allocated to be released Unearned ESOP shares Total ESOP shares Fair value of unearned ESOP shares $ $ Fair value of allocated shares subject to repurchase obligation $ $
Schedule of restricted stock award activity	Service-Based Weighted Stock Grant Date Awards Fair Value Non-vested at July 1, 2015 Conversion for stock offering — Granted Vested Non-vested at June 30, 2016

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Jun. 30, 2016
Earnings per Share
Schedule of reconciliation of the components used to compute basic earnings per share	2016 2015 Weighted average common shares outstanding Net income available to common stockholders $ $ Basic earnings per share $ $
Schedule of reconciliation of the components used to compute diluted earnings per share	2016 2015 Weighted average common shares outstanding Dilutive effect of net additional shares from restricted stock awards Weighted average number of shares outstanding Net income available to common stockholders $ $ Diluted earnings per share $ $

Loan Commitments and Other Re36

Loan Commitments and Other Related Activities (Tables)	12 Months Ended
	Jun. 30, 2016
Loan Commitments and Other Related Activities
Schedule of contractual or notional amounts of loan commitments and other related activities	2016 2015 Financial instruments wherein contractual amounts represent credit risk: Commitments to extend credit $ $ Standby letters of credit Unused lines of credit
Summary of future commitments under the operating lease	Year Ending June 30, 2017 $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2016
Fair Value Measurements
Summary of fair value of assets and liabilities measured on a recurring basis	Fair Value Measurement at June 30, 2016 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Total Level 1 Level 2 Level 3 Assets Securities available-for-sale $ $ — $ $ — Fair Value Measurement at June 30, 2015 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Total Level 1 Level 2 Level 3 Assets Securities available-for-sale $ $ — $ $ —
Schedule of carrying and estimated fair value of financial instruments	Fair Value Carrying Estimated June 30, 2016 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ $ Securities available-for-sale See previous table Securities held-to-maturity Level 2 Federal Home Loan Bank stock Level 1 Loans, net Level 2 Accrued interest receivable Level 1 Financial liabilities: Noninterest-bearing deposits Level 2 Interest-bearing deposits Level 2 Accrued interest payable and other liabilities Level 1 Fair Value Carrying Estimated June 30, 2015 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ $ Time deposits with financial institutions Level 2 Securities available-for-sale See previous table Securities held-to-maturity Level 2 Federal Home Loan Bank stock Level 1 Loans, net Level 2 Accrued interest receivable Level 1 Financial liabilities: Noninterest-bearing deposits Level 2 Interest-bearing deposits Level 2 Accrued interest payable and other liabilities Level 1

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss)
Schedule of components of accumulated other comprehensive income (loss)	2016 2015 Unrealized holding gains (losses) on securities available-for-sale $ $ Tax benefit $ $

Transactions with Related Par39

Transactions with Related Parties (Tables)	12 Months Ended
	Jun. 30, 2016
Transactions with Related Parties
Schedule of transactions with related parties	2016 2015 Beginning balance $ $ New loans or transfers in Repayments or transfers out Ending balance $ $

Condensed Financial Informati40

Condensed Financial Information (Holding Company Only) (Tables)	12 Months Ended
	Jun. 30, 2016
Condensed Financial Information (Holding Company Only)
Condensed Balance Sheets	Condensed Balance Sheets June 30, 2016 2015 Assets Cash and due from financial institutions $ $ Investment in Bank Other assets Total assets $ $ Liabilities and Stockholders’ Equity Other liabilities $ $ Stockholders' equity Total liabilities and stockholders’ equity $ $
Condensed Statements of Income	Condensed Statements of Income Year Ended June 30, 2016 2015 Interest income $ $ Professional fees and other expenses Loss before income tax and equity in undistributed net income of subsidiary Income tax benefit Loss before equity in undistributed net income of subsidiary Equity in undistributed net income of subsidiary Net income $ $ Comprehensive income $ $
Condensed Statements of Cash Flows	Condensed Statements of Cash Flows Year Ended June 30, 2016 2015 Cash Flows from Operating Activities: Net income $ $ Items not providing cash Net cash used by operating activities Cash Flows from Investing Activities: Downstream capital to Bank $ $ — Net cash used by investing activities — Cash Flows from Financing Activities: ESOP Loan Finance — Proceeds in advance of offering Net cash provided/(used) by financing activities Increase/(Decrease) in cash and cash equivalents Cash and Cash Equivalents Beginning Ending $ $

Nature of Business and Signif41

Nature of Business and Significant Accounting Policies (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Time deposits with financial institutions
Time deposits with financial institutions	$ 0	$ 500,000
Cash and due from financial institutions	14,947,296	21,512,653
Midwest Independent Bank
Time deposits with financial institutions
Cash and due from financial institutions	$ 12,400,000	$ 18,500,000

Nature of Business and Signif42

Nature of Business and Significant Accounting Policies - Stock Conversion (Details) - USD ($)	Jul. 08, 2015	Jun. 30, 2016	Jun. 30, 2015
Stock Conversion
Sale of common stock, par value under Stock Conversion (in dollars per share)		$ 0.01	$ 0.01
Stock conversion between Equitable Financial Corp, Equitable MHC and Equitable Bank
Stock Conversion
Sale of common stock under Stock Conversion (in shares)	1,983,160
Sale of common stock, par value under Stock Conversion (in dollars per share)	$ 0.01
Subscription price of common stock under Stock Conversion (in dollars per share)	$ 8
Sale of common stock to employee stock ownership plan under Stock Conversion	118,989
Percentage of shares sold to employee stock ownership plan from total shares sold in initial stock offering under Stock Conversion	6.00%
Conversion costs for stock offering under Stock Conversion	$ 1,096,303

Nature of Business and Signif43

Nature of Business and Significant Accounting Policies - Loans (Details)	12 Months Ended
	Jun. 30, 2016USD ($)
Fair Quality
Allowance for loan losses
Possible realized loss term	4 years
Commercial | Term loans | Maximum
Allowance for loan losses
Loan term	10 years
Commercial | Lines of credit | Maximum
Allowance for loan losses
Loan term	1 year
Agricultural | Term loans | Maximum
Allowance for loan losses
Loan term	10 years
Agricultural | Lines of credit | Maximum
Allowance for loan losses
Loan term	1 year
Commercial and Agricultural
Allowance for loan losses
Maximum aggregate exposure not requiring a loan review within 12 months of most recent credit review	$ 250,000

Nature of Business and Signif44

Nature of Business and Significant Accounting Policies - Impairment (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Long-term assets
Recognized impairment	$ 0	$ 0
Buildings and improvements | Minimum
Premises and equipment
Depreciable life	25 years
Buildings and improvements | Maximum
Premises and equipment
Depreciable life	40 years
Routine building improvements | Minimum
Premises and equipment
Depreciable life	10 years
Routine building improvements | Maximum
Premises and equipment
Depreciable life	20 years
Furniture and equipment | Minimum
Premises and equipment
Depreciable life	5 years
Furniture and equipment | Maximum
Premises and equipment
Depreciable life	15 years
Vehicles
Premises and equipment
Depreciable life	5 years
Computer equipment | Minimum
Premises and equipment
Depreciable life	2 years
Computer equipment | Maximum
Premises and equipment
Depreciable life	5 years

Securities (Details)

Securities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Amortized cost and estimated fair value of investments in debt and equity securities
Securities available-for-sale	$ 664,755	$ 420,248
Investment securities held-to-maturity, amortized cost	781,740	3,276,752
Investment securities held-to-maturity , gross unrealized gains	19,374	21,340
Investment securities held-to-maturity, estimated fair value	801,114	3,298,092
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
Interest income	79,639	189,111
Held-to-maturity securities sold	0	0
Securities available-for-sale, at fair value	664,755	243,653
Securities held-to-maturity, at amortized cost	746,084	603,793
Residential mortgage-backed securities
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	658,579	426,392
Investment securities available-for-sale , gross unrealized gain	6,176
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax		(6,144)
Securities available-for-sale	664,755	420,248
Investment securities held-to-maturity, amortized cost	180,035	259,481
Investment securities held-to-maturity , gross unrealized gains	15,281	18,101
Investment securities held-to-maturity, estimated fair value	195,316	277,582
Municipal bonds
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities held-to-maturity, amortized cost	601,705	3,017,271
Investment securities held-to-maturity , gross unrealized gains	4,093	3,239
Investment securities held-to-maturity, estimated fair value	605,798	3,020,510
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
Interest income	58,000	$ 141,000
Held-to-maturity securities maturing in the year ending June 30, 2019	$ 400,000

Loans (Details)

Loans (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Loans disclosures
Total loans	$ 200,694,437	$ 180,445,199
Deferred loan origination costs, net	562,483	561,287
Allowance for loan losses	(2,947,000)	(2,583,000)	$ (2,574,000)
Deferred loan origination costs and allowance	(2,384,517)	(2,021,713)
Loans, net	198,309,920	178,423,486
Commercial
Loans disclosures
Total loans	83,054,605	71,576,395
Allowance for loan losses	(1,337,000)	(1,124,000)	(1,237,000)
Commercial | Operating
Loans disclosures
Total loans	15,355,676	14,967,289
Commercial | Real Estate
Loans disclosures
Total loans	67,698,929	56,609,106
Agricultural
Loans disclosures
Total loans	47,908,101	48,278,177
Allowance for loan losses	(738,000)	(697,000)	(646,000)
Agricultural | Operating
Loans disclosures
Total loans	22,942,560	27,229,622
Agricultural | Real Estate
Loans disclosures
Total loans	24,965,541	21,048,555
Residential
Loans disclosures
Total loans	52,954,421	51,653,368
Allowance for loan losses	(655,000)	(644,000)	(586,000)
Residential | 1 - 4 family
Loans disclosures
Total loans	40,309,797	40,892,433
Residential | Consumer - Home equity and lines of credit
Loans disclosures
Total loans	12,644,624	10,760,935
Other
Loans disclosures
Total loans	16,777,310	8,937,259
Allowance for loan losses	(217,000)	(118,000)	$ (105,000)
Other | Construction and land
Loans disclosures
Total loans	13,210,393	5,844,461
Other | Consumer - Personal
Loans disclosures
Total loans	$ 3,566,917	$ 3,092,798

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Allowance for loan losses:
Balance, beginning	$ 2,583,000	$ 2,574,000
Provision charged to expense	275,024	(557,533)
Recoveries	101,717	982,664
Loans charged off	(12,741)	(416,131)
Balance, ending	2,947,000	2,583,000
Commercial
Allowance for loan losses:
Balance, beginning	1,124,000	1,237,000
Provision charged to expense	118,418	256,368
Recoveries	94,582	36,212
Loans charged off		(405,580)
Balance, ending	1,337,000	1,124,000
Agricultural
Allowance for loan losses:
Balance, beginning	697,000	646,000
Provision charged to expense	41,000	51,000
Balance, ending	738,000	697,000
Residential
Allowance for loan losses:
Balance, beginning	644,000	586,000
Provision charged to expense	9,416	44,097
Recoveries	1,584	13,903
Balance, ending	655,000	644,000
Other
Allowance for loan losses:
Balance, beginning	118,000	105,000
Provision charged to expense	106,190	(908,998)
Recoveries	5,551	932,549
Loans charged off	(12,741)	(10,551)
Balance, ending	$ 217,000	$ 118,000

Loans - Impairment Evaluation (

Loans - Impairment Evaluation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 52,803	$ 25,566
Allowance for loans collectively evaluated for impairment	2,894,197	2,557,434
Total Allowance	2,947,000	2,583,000	$ 2,574,000
Loan balances
Loans individually evaluated for impairment	4,843,377	4,842,177
Loans collectively evaluated for impairment	195,851,060	175,603,022
Total loans	$ 200,694,437	$ 180,445,199
Allowance as percentage of loans:
Allowance as a percentage of loans individually evaluated for impairment	1.09%	0.53%
Allowance as a percentage of loans collectively evaluated for impairment	1.48%	1.46%
Allowance as a percentage of total loans evaluated for impairment	1.47%	1.43%
Commercial
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 34,975	$ 5,617
Allowance for loans collectively evaluated for impairment	1,302,025	1,118,383
Total Allowance	1,337,000	1,124,000	1,237,000
Loan balances
Loans individually evaluated for impairment	227,824	549,983
Loans collectively evaluated for impairment	82,826,781	71,026,412
Total loans	$ 83,054,605	$ 71,576,395
Allowance as percentage of loans:
Allowance as a percentage of loans individually evaluated for impairment	15.35%	1.02%
Allowance as a percentage of loans collectively evaluated for impairment	1.57%	1.57%
Allowance as a percentage of total loans evaluated for impairment	1.61%	1.57%
Agricultural
Allowance for loan losses:
Allowance for loans collectively evaluated for impairment	$ 738,000	$ 697,000
Total Allowance	738,000	697,000	646,000
Loan balances
Loans individually evaluated for impairment	885,757	482,442
Loans collectively evaluated for impairment	47,022,344	47,795,735
Total loans	$ 47,908,101	$ 48,278,177
Allowance as percentage of loans:
Allowance as a percentage of loans collectively evaluated for impairment	1.57%	1.46%
Allowance as a percentage of total loans evaluated for impairment	1.54%	1.44%
Residential
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 17,828	$ 19,949
Allowance for loans collectively evaluated for impairment	637,172	624,051
Total Allowance	655,000	644,000	586,000
Loan balances
Loans individually evaluated for impairment	3,726,602	3,802,074
Loans collectively evaluated for impairment	49,227,819	47,851,294
Total loans	$ 52,954,421	$ 51,653,368
Allowance as percentage of loans:
Allowance as a percentage of loans individually evaluated for impairment	0.48%	0.52%
Allowance as a percentage of loans collectively evaluated for impairment	1.29%	1.30%
Allowance as a percentage of total loans evaluated for impairment	1.24%	1.25%
Other
Allowance for loan losses:
Allowance for loans collectively evaluated for impairment	$ 217,000	$ 118,000
Total Allowance	217,000	118,000	$ 105,000
Loan balances
Loans individually evaluated for impairment	3,194	7,678
Loans collectively evaluated for impairment	16,774,116	8,929,581
Total loans	$ 16,777,310	$ 8,937,259
Allowance as percentage of loans:
Allowance as a percentage of loans collectively evaluated for impairment	1.29%	1.32%
Allowance as a percentage of total loans evaluated for impairment	1.29%	1.32%

Loans - Aging Unpaid Principal

Loans - Aging Unpaid Principal (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Summary of aging in terms of unpaid principal balance
Current	$ 197,993,988	$ 179,111,547
Total loans	200,694,437	180,445,199
Nonaccrual Loans	$ 1,799,647	$ 1,470,461
Current, Percentage	98.66%	99.26%
Total Loans, Percentage	100.00%	100.00%
Nonaccrual Loans, Percentage	0.90%	0.82%
31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	$ 2,548,309	$ 1,317,480
31-60 Days Past Due, Percentage	1.27%	0.73%
61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	$ 23,736	$ 16,172
61-90 Days Past Due, Percentage	0.01%	0.01%
Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	$ 128,404
Greater Than 90 Days Past Due, Percentage	0.06%
Commercial
Summary of aging in terms of unpaid principal balance
Total loans	$ 83,054,605	$ 71,576,395
Commercial | Operating
Summary of aging in terms of unpaid principal balance
Current	15,256,328	14,933,071
Total loans	15,355,676	14,967,289
Nonaccrual Loans	97,294	299,244
Commercial | Operating | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	99,348	34,218
Commercial | Real Estate
Summary of aging in terms of unpaid principal balance
Current	67,606,842	56,415,655
Total loans	67,698,929	56,609,106
Nonaccrual Loans	92,087	220,598
Commercial | Real Estate | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due		193,451
Commercial | Real Estate | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	92,087
Agricultural
Summary of aging in terms of unpaid principal balance
Total loans	47,908,101	48,278,177
Agricultural | Operating
Summary of aging in terms of unpaid principal balance
Current	22,318,246	27,229,622
Total loans	22,942,560	27,229,622
Nonaccrual Loans	6,848	10,325
Agricultural | Operating | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	624,314
Agricultural | Real Estate
Summary of aging in terms of unpaid principal balance
Current	24,965,541	21,033,555
Total loans	24,965,541	21,048,555
Nonaccrual Loans	877,909	472,117
Agricultural | Real Estate | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due		15,000
Residential
Summary of aging in terms of unpaid principal balance
Total loans	52,954,421	51,653,368
Residential | 1 - 4 family
Summary of aging in terms of unpaid principal balance
Current	38,428,793	39,866,787
Total loans	40,309,797	40,892,433
Nonaccrual Loans	688,454	442,122
Residential | 1 - 4 family | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	1,823,353	1,024,437
Residential | 1 - 4 family | 61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	23,736	1,209
Residential | 1 - 4 family | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	33,915
Residential | Consumer - Home equity and lines of credit
Summary of aging in terms of unpaid principal balance
Current	12,644,624	10,726,023
Total loans	12,644,624	10,760,935
Nonaccrual Loans	29,807	19,949
Residential | Consumer - Home equity and lines of credit | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due		19,949
Residential | Consumer - Home equity and lines of credit | 61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due		14,963
Other
Summary of aging in terms of unpaid principal balance
Total loans	16,777,310	8,937,259
Other | Construction and land
Summary of aging in terms of unpaid principal balance
Current	13,210,393	5,844,461
Total loans	13,210,393	5,844,461
Other | Consumer - Personal
Summary of aging in terms of unpaid principal balance
Current	3,563,221	3,062,373
Total loans	3,566,917	3,092,798
Nonaccrual Loans	7,248	6,106
Other | Consumer - Personal | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	1,294	$ 30,425
Other | Consumer - Personal | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	$ 2,402

Loans - Credit Quality (Details

Loans - Credit Quality (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 200,694,437	$ 180,445,199
Performing Financing Receivable Maximum Days Past Due	31 days
Nonperforming Financing Receivable Minimum Days Past Due	31 days
Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 130,962,706	119,854,572
Financing Receivable Risk Rating Minimum Review Period	12 months
Commercial
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 83,054,605	71,576,395
Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	15,355,676	14,967,289
Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	67,698,929	56,609,106
Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	47,908,101	48,278,177
Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	22,942,560	27,229,622
Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	24,965,541	21,048,555
Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	69,731,731	60,590,627
Residential
Unpaid principal balance by credit quality indicator
Unpaid principal balance	52,954,421	51,653,368
Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	40,309,797	40,892,433
Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,644,624	10,760,935
Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	16,777,310	8,937,259
Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	13,210,393	5,844,461
Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,566,917	3,092,798
Highest Quality (rating 1) | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	832,824	447,515
Highest Quality (rating 1) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	484,813	257,515
Highest Quality (rating 1) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	348,011	190,000
Good Quality (rating 2) | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	16,820,513	20,366,342
Good Quality (rating 2) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	213,824	333,434
Good Quality (rating 2) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	4,923,002	4,913,937
Good Quality (rating 2) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	5,510,208	10,029,448
Good Quality (rating 2) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	6,173,479	5,089,523
Acceptable Quality (rating 3) | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	57,060,401	57,536,991
Acceptable Quality (rating 3) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	7,732,341	8,409,732
Acceptable Quality (rating 3) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	33,606,696	30,494,389
Acceptable Quality (rating 3) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	5,992,063	9,089,993
Acceptable Quality (rating 3) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	9,729,301	9,542,877
Fair Quality (rating 4) | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	53,314,418	38,661,851
Fair Quality (rating 4) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	7,294,630	5,880,641
Fair Quality (rating 4) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	28,578,771	19,404,832
Fair Quality (rating 4) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	9,604,176	7,622,340
Fair Quality (rating 4) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	7,836,841	5,754,038
Special Mention | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	829,738
Special Mention | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	829,738
Substandard | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,104,812	2,841,873
Substandard | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	114,881	343,482
Substandard | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	590,460	1,795,948
Substandard | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	521,562	230,326
Substandard | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	877,909	472,117
Performing | Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	67,216,423	59,115,574
Performing | Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	37,832,838	39,488,822
Performing | Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,614,817	10,726,024
Performing | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	13,210,393	5,844,461
Performing | Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,558,375	3,056,267
Nonperforming | Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,515,308	1,475,053
Nonperforming | Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,476,959	1,403,611
Nonperforming | Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	29,807	34,911
Nonperforming | Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 8,542	$ 36,531

Loans - Impaired (Details)

Loans - Impaired (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Impaired loans with no specific allowance recorded:
Recorded Investment	$ 4,415,601	$ 4,796,812
Unpaid Principal Balance	4,355,599	4,766,055
Average Recorded Investment	4,458,877	4,873,797
Interest Income Recognized	231,295	252,982
Impaired loans with specific allowance recorded:
Recorded Investment	512,018	76,306
Unpaid Principal Balance	487,778	76,122
Related Allowance	52,803	25,566
Average Recorded Investment	579,737	80,598
Interest Income Recognized	23,620	3,266
Total impaired loans:
Recorded Investment	4,927,619	4,873,118
Unpaid Principal Balance	4,843,377	4,842,177
Related Allowance	52,803	25,566
Average Recorded Investment	5,038,614	4,954,395
Interest Income Recognized	254,915	256,248
Commercial | Operating
Impaired loans with no specific allowance recorded:
Recorded Investment	88,902	274,833
Unpaid Principal Balance	87,497	273,212
Average Recorded Investment	57,873	305,299
Interest Income Recognized	4,560	17,874
Impaired loans with specific allowance recorded:
Recorded Investment	48,302	56,246
Unpaid Principal Balance	48,240	56,173
Related Allowance	4,824	5,617
Average Recorded Investment	52,274	59,770
Interest Income Recognized	2,266	2,287
Total impaired loans:
Recorded Investment	137,204	331,079
Unpaid Principal Balance	135,737	329,385
Related Allowance	4,824	5,617
Average Recorded Investment	110,147	365,069
Interest Income Recognized	6,826	20,161
Commercial | Real Estate
Impaired loans with no specific allowance recorded:
Recorded Investment		228,889
Unpaid Principal Balance		220,598
Average Recorded Investment		236,453
Interest Income Recognized		13,046
Impaired loans with specific allowance recorded:
Recorded Investment	114,837
Unpaid Principal Balance	92,087
Related Allowance	30,151
Average Recorded Investment	171,863
Total impaired loans:
Recorded Investment	114,837	228,889
Unpaid Principal Balance	92,087	220,598
Related Allowance	30,151
Average Recorded Investment	171,863	236,453
Interest Income Recognized		13,046
Agricultural | Operating
Impaired loans with no specific allowance recorded:
Recorded Investment	8,009	10,344
Unpaid Principal Balance	7,848	10,326
Average Recorded Investment	117,809	12,851
Interest Income Recognized	21,178	658
Total impaired loans:
Recorded Investment	8,009	10,344
Unpaid Principal Balance	7,848	10,326
Average Recorded Investment	117,809	12,851
Interest Income Recognized	21,178	658
Agricultural | Real Estate
Impaired loans with no specific allowance recorded:
Recorded Investment	925,288	480,879
Unpaid Principal Balance	877,909	472,116
Average Recorded Investment	834,054	412,937
Interest Income Recognized	15,344	16,848
Total impaired loans:
Recorded Investment	925,288	480,879
Unpaid Principal Balance	877,909	472,116
Average Recorded Investment	834,054	412,937
Interest Income Recognized	15,344	16,848
Residential | 1 - 4 family
Impaired loans with no specific allowance recorded:
Recorded Investment	3,330,310	3,730,154
Unpaid Principal Balance	3,320,028	3,718,852
Average Recorded Investment	3,382,528	3,830,736
Interest Income Recognized	185,997	199,991
Impaired loans with specific allowance recorded:
Recorded Investment	330,997
Unpaid Principal Balance	329,623
Related Allowance	16,913
Average Recorded Investment	336,629
Interest Income Recognized	19,949
Total impaired loans:
Recorded Investment	3,661,307	3,730,154
Unpaid Principal Balance	3,649,651	3,718,852
Related Allowance	16,913
Average Recorded Investment	3,719,157	3,830,736
Interest Income Recognized	205,946	199,991
Residential | Consumer - Home equity and lines of credit
Impaired loans with no specific allowance recorded:
Recorded Investment	59,336	63,575
Unpaid Principal Balance	59,123	63,273
Average Recorded Investment	61,455	65,504
Interest Income Recognized	3,962	3,989
Impaired loans with specific allowance recorded:
Recorded Investment	17,882	20,060
Unpaid Principal Balance	17,828	19,949
Related Allowance	915	19,949
Average Recorded Investment	18,971	20,828
Interest Income Recognized	1,405	979
Total impaired loans:
Recorded Investment	77,218	83,635
Unpaid Principal Balance	76,951	83,222
Related Allowance	915	19,949
Average Recorded Investment	80,426	86,332
Interest Income Recognized	5,367	4,968
Other | Consumer - Personal
Impaired loans with no specific allowance recorded:
Recorded Investment	3,756	8,138
Unpaid Principal Balance	3,194	7,678
Average Recorded Investment	5,158	10,017
Interest Income Recognized	254	576
Total impaired loans:
Recorded Investment	3,756	8,138
Unpaid Principal Balance	3,194	7,678
Average Recorded Investment	5,158	10,017
Interest Income Recognized	$ 254	$ 576

Loans - TDRs (Details)

Loans - TDRs (Details)	Jun. 30, 2016USD ($)item	Jun. 30, 2015USD ($)item
Summary of troubled debt restructured loans
Number of TDRs | item	106	100
Recorded Investment | $	$ 4,534,385	$ 4,528,555
Extension of maturity
Summary of troubled debt restructured loans
Number of TDRs | item	56	50
Recorded Investment | $	$ 2,745,637	$ 2,636,099
Reduction of interest rate below market
Summary of troubled debt restructured loans
Number of TDRs | item	50	50
Recorded Investment | $	$ 1,788,748	$ 1,892,456
Operating | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	6	5
Recorded Investment | $	$ 124,390	$ 280,704
Operating | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	1
Recorded Investment | $	$ 1,000
Operating | Extension of maturity | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	5	4
Recorded Investment | $	$ 76,088	$ 224,458
Operating | Extension of maturity | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	1
Recorded Investment | $	$ 1,000
Operating | Reduction of interest rate below market | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	1	1
Recorded Investment | $	$ 48,302	$ 56,246
Real Estate | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	2	45
Recorded Investment | $	$ 103,462	$ 2,188,741
Real Estate | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	7	1
Recorded Investment | $	$ 732,633	$ 234,485
Real Estate | Extension of maturity | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	2	7
Recorded Investment | $	$ 103,462	$ 760,837
Real Estate | Extension of maturity | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	7
Recorded Investment | $	$ 732,633
Real Estate | Reduction of interest rate below market | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item		38
Recorded Investment | $		$ 1,427,904
1 - 4 family | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	84	43
Recorded Investment | $	$ 3,491,926	$ 1,752,912
1 - 4 family | Extension of maturity | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	36	32
Recorded Investment | $	$ 1,769,362	$ 1,344,606
1 - 4 family | Reduction of interest rate below market | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	48	11
Recorded Investment | $	$ 1,722,564	$ 408,306
Consumer - Home equity and lines of credit | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	5	4
Recorded Investment | $	$ 77,218	$ 63,575
Consumer - Home equity and lines of credit | Extension of maturity | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	4	4
Recorded Investment | $	$ 59,336	$ 63,575
Consumer - Home equity and lines of credit | Reduction of interest rate below market | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	1
Recorded Investment | $	$ 17,882
Consumer - Personal | Other
Summary of troubled debt restructured loans
Number of TDRs | item	1	2
Recorded Investment | $	$ 3,756	$ 8,138
Consumer - Personal | Extension of maturity | Other
Summary of troubled debt restructured loans
Number of TDRs | item	1	2
Recorded Investment | $	$ 3,756	$ 8,138

Loans - TDRs-By Type Of Concess

Loans - TDRs-By Type Of Concession (Details)	12 Months Ended
	Jun. 30, 2016USD ($)item	Jun. 30, 2015USD ($)item
Summary of troubled debt restructured loans
Number of TDRs | item	12	5
Recorded Investment | $	$ 818,131	$ 560,805
Extension of maturity
Summary of troubled debt restructured loans
Number of TDRs | item	12	4
Recorded Investment | $	$ 818,131	$ 504,559
Reduction of interest rate below market
Summary of troubled debt restructured loans
Number of TDRs | item		1
Recorded Investment | $		$ 56,246
Operating | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	2	3
Recorded Investment | $	$ 65,085	$ 272,908
Operating | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	1
Recorded Investment | $	$ 1,000
Operating | Extension of maturity | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	2	2
Recorded Investment | $	$ 65,085	$ 216,662
Operating | Extension of maturity | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	1
Recorded Investment | $	$ 1,000
Operating | Reduction of interest rate below market | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item		1
Recorded Investment | $		$ 56,246
Real Estate | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	6	1
Recorded Investment | $	$ 483,556	$ 234,485
Real Estate | Extension of maturity | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	6	1
Recorded Investment | $	$ 483,556	$ 234,485
1 - 4 family | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	3	1
Recorded Investment | $	$ 268,490	$ 53,412
1 - 4 family | Extension of maturity | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	3	1
Recorded Investment | $	$ 268,490	$ 53,412

Loan Servicing (Details)

Loan Servicing (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Loan Servicing
Principal amount outstanding on loans serviced for others	$ 100,745,000	$ 91,015,000
Proceeds from sale of loans	28,507,437	28,943,974
Other assets
Loan Servicing
Servicing Asset	701,000	595,000
Fixed rate | 1 - 4 family | Residential
Loan Servicing
Proceeds from sale of loans	28,507,000	28,944,000
Pre-tax gain on sale of loans	750,000	722,000
Conventional loan | Federal Home Loan Bank
Loan Servicing
Principal amount outstanding of loans originated and sold in Mortgage Partnership Finance ("MPF") Program	20,078,590	18,953,634
Possible credit enhancement losses cap on loans originated and sold in Mortgage Partnership Finance ("MPF") Program	1,035,414	1,143,402
Accrual of credit enhancement losses on loans originated and sold in Mortgage Partnership Finance ("MPF") Program	$ 0	$ 0

Accrued Interest Receivable (De

Accrued Interest Receivable (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Interest Receivable	$ 1,147,467	$ 1,044,271
Time deposits with other financial institutions
Interest Receivable		334
Securities
Interest Receivable	3,259	13,046
Loans
Interest Receivable	$ 1,144,208	$ 1,030,891

Premises and Equipment, Net (De

Premises and Equipment, Net (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 10,063,160	$ 10,003,359
Less accumulated depreciation	(4,788,699)	(4,451,569)
Total premises and equipment, net	5,274,461	5,551,790
Depreciation	343,651	319,843
Land and land improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,337,723	1,345,583
Buildings and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	6,923,640	6,862,619
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,252,015	1,275,292
Computer equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	492,766	462,849
Vehicles
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 57,016	$ 57,016

Deposits (Details)

Deposits (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Noninterest-bearing deposits	$ 24,296,166	$ 21,779,092
Interest-bearing NOW	42,734,473	41,226,800
Money market	60,352,403	51,319,426
Savings	14,869,638	13,075,703
Certificates of deposit	44,709,672	47,367,900
Total deposits	186,962,352	174,768,921
Certificates of deposit
Certificates of deposit of $250,000 or more	$ 3,866,000	$ 2,736,000

Deposits - Scheduled maturities

Deposits - Scheduled maturities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Scheduled maturities of certificates of deposit:
2,017	$ 26,850,634
2,018	7,152,357
2,019	4,769,417
2,020	2,019,845
2021 and beyond	3,917,419
Total certificates of deposit	44,709,672	$ 47,367,900
Interest expense on deposit accounts:
Interest-bearing NOW	169,242	154,899
Money market	403,825	265,802
Savings	33,941	32,137
Certificates of deposit	436,887	480,891
Total interest expense on deposit accounts	$ 1,043,895	$ 933,729

Federal Home Loan Bank Borrow59

Federal Home Loan Bank Borrowings (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Federal Home Loan Bank Advances Disclosures
Federal Home Loan Bank Advances, Amount of Available, Unused Funds	$ 47,100,000
Midwest Independent Bank
Line of credit
Outstanding balance	0
Borrowing capacity	5,000,000
Pacific Coast Bankers Bank
Line of credit
Outstanding balance	0
Borrowing capacity	4,000,000
Federal Home Loan Bank of Topeka
Federal Home Loan Bank Advances Disclosures
Loans Pledged as Collateral	$ 49,500,000	$ 41,000,000

Regulatory Matters (Details)

Regulatory Matters (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Compliance with regulatory capital requirements under banking regulations
Total capital (to risk weighted assets), amount	$ 28,977	$ 20,626
Total capital (to risk weighted assets), as a percent	14.70%	11.50%
Tier 1 (core) capital (to risk weighted assets), amount	$ 26,500	$ 18,379
Tier 1 (core) capital (to risk weighted assets), as a percent	13.40%	10.30%
Tier 1 (core) capital (to adjusted total assets), amount	$ 26,500	$ 18,379
Tier 1 (core) capital (to adjusted total assets), as a percent	11.60%	9.10%
Minimum Required for Capital Adequacy Purposes
Total capital (to risk weighted assets), amount	$ 15,805	$ 14,306
Total capital (to risk weighted assets), as a percent	8.00%	8.00%
Tier 1 (core) capital (to risk weighted assets), amount	$ 11,854	$ 10,729
Tier 1 (core) capital (to risk weighted assets), as a percent	6.00%	6.00%
Tier 1 (core) capital (to adjusted total assets), amount	$ 9,114	$ 8,056
Tier 1 (core) capital (to adjusted total assets), as a percent	4.00%	4.00%
Minimum Required to Be Well Capitalized Under Prompt Corrective Action Provisions
Total capital (to risk weighted assets), amount	$ 19,757	$ 17,882
Total capital (to risk weighted assets), as a percent	10.00%	10.00%
Tier 1 (core) capital (to risk weighted assets), amount	$ 15,805	$ 14,306
Tier 1 (core) capital (to risk weighted assets), as a percent	8.00%	8.00%
Tier 1 (core) capital (to adjusted total assets), amount	$ 11,393	$ 10,070
Tier 1 (core) capital (to adjusted total assets), as a percent	5.00%	5.00%
Common Equity
Compliance with regulatory capital requirements under banking regulations
Tier 1 (core) capital (to risk weighted assets), amount	$ 26,500	$ 18,379
Tier 1 (core) capital (to risk weighted assets), as a percent	13.40%	10.30%
Minimum Required for Capital Adequacy Purposes
Tier 1 (core) capital (to risk weighted assets), amount	$ 8,891	$ 8,047
Tier 1 (core) capital (to risk weighted assets), as a percent	4.50%	4.50%
Minimum Required to Be Well Capitalized Under Prompt Corrective Action Provisions
Tier 1 (core) capital (to risk weighted assets), amount	$ 12,842	$ 11,624
Tier 1 (core) capital (to risk weighted assets), as a percent	6.50%	6.50%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Current:
Federal	$ (73,021)	$ (64,998)
State	(72,879)	(78,768)
Deferred:
Federal	(344,906)	(566,458)
Income tax expense	$ (490,806)	$ (710,224)

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Taxes
Statutory federal corporate tax rate (as a percent)	34.00%	34.00%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Provision computed at the statutory federal tax rate	$ (525,492)	$ (677,464)
State income taxes, net of federal tax	(48,100)	(51,987)
Release of unearned EOSP shares and stock awards	21,092	50,877
Nondeductible expenses	(6,754)	(6,313)
Valuation allowance adjustment	79,000
Return-to-provision, net	(32,837)	(21,617)
Other	22,285	(3,720)
Total income tax expense	(490,806)	(710,224)
Deferred Tax Liability Not Recognized, Bad Debt Reserve for Tax Purposes of Qualified Lender [Abstract]
Bad debt reserves not included in deferred income tax liability	$ 2,132,000	$ 2,132,000

Income Taxes - Net deferred tax

Income Taxes - Net deferred tax assets (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Gross deferred tax assets:
Allowance for loan losses	$ 1,001,980	$ 878,220
Net operating loss carryover	530,899	1,170,892
General business credits	324,364	324,364
Foreclosed asset writedowns	50,592	50,592
Unrealized loss on securities		2,089
Other	245,290	138,850
Total gross deferred tax assets	2,153,125	2,565,007
Gross deferred tax liabilities:
Additions in excess of base year loan reserve	(585,334)	(555,082)
Depreciation	(68,425)	(86,668)
FHLB stock dividends	(77,656)	(72,522)
Unrealized gain on securities	(2,100)
Other	(3,517)	(6,546)
Total gross deferred tax liabilities	(737,032)	(720,818)
Valuation allowance for deferred tax assets		(79,000)
Net deferred tax asset	1,416,093	1,765,189
Income tax uncertainties:
Adjustment for unrecognized income tax benefits	0	0
Income tax examination, interest and penalties expense:
Interest and penalties expense	0	0
Income tax examination, interest and penalties accrued:
Interest and penalties accrued	0	$ 0
Federal
Net operating loss carryforwards	$ 1,700,000

Employee Benefit Plan - 401K (D

Employee Benefit Plan - 401K (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Employee Benefit Plan
401(k) and profit sharing plans, minimum vesting period	1 year
401(k) and profit sharing plans, maximum vesting period	5 years
Company contributions to the 401(k) and profit sharing plans	$ 100,000	$ 81,000

Employee Benefit Plan - ESOP (D

Employee Benefit Plan - ESOP (Details) - USD ($)	Jul. 08, 2015	Nov. 08, 2005	Jun. 30, 2016	Jun. 30, 2015
Employee stock ownership plan ("ESOP")
Funds borrowed by the ESOP from the Company	$ 951,912	$ 1,292,620
Company stock acquired by the ESOP (in shares)	$ 118,989	$ 129,262
Price of Company stock acquired by the ESOP (in dollars per share)	$ 8	$ 10
Annual principal and interest payments to be made by the ESOP	$ 65,000	$ 145,000
Compensation expense			$ 105,645	$ 57,516
Shares held by the ESOP
Allocated shares (in shares)			71,803	83,845
Shares allocated to be released			7,932	4,542
Unearned ESOP shares (in shares)			150,700	40,875
Total ESOP shares (in shares)			230,435	129,262
Fair value of unearned ESOP shares			$ 1,252,317	$ 369,919
Fair value of allocated shares subject to repurchase obligation			$ 564,723	$ 516,800

Employee Benefit Plan - Shares

Employee Benefit Plan - Shares Awarded (Details)	12 Months Ended
	Jun. 30, 2016$ / sharesshares
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at beginning of the year (in shares)	43,094
Conversion for stock offering (in shares)	3,925
Granted (in shares)	4,900
Vested (in shares)	(12,620)
Non-vested at end of the year (in share)	39,299
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Non-vested at beginning of the year (in dollars per share) | $ / shares	$ 4.02
Granted (in dollars per share) | $ / shares	8.53
Vested (in dollars per share) | $ / shares	4.02
Non-vested at end of the year (in dollars per share) | $ / shares	$ 4.32
2006 Equity Incentive Plan
Share-based compensation
Award vesting period	5 years
2006 Equity Incentive Plan | Stock Options
Share-based compensation
Number of shares that may be awarded to employees and directors under the plan	176,297
Number of shares awarded	0
2006 Equity Incentive Plan | Restricted stock
Share-based compensation
Number of shares that may be awarded to employees and directors under the plan	70,519

Earnings per Share - Basic (Det

Earnings per Share - Basic (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Components of basic earnings per share:
Weighted average common shares outstanding	3,264,979	3,075,606
Net income available to common stockholders	$ 1,054,758	$ 1,282,316
Basic earnings per share (in dollars per share)	$ 0.32	$ 0.42

Earnings per Share - Diluted (D

Earnings per Share - Diluted (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Components of diluted earnings per share:
Weighted average common shares outstanding	3,264,979	3,075,606
Dilutive effect of net additional shares from restricted stock awards	26,538	24,010
Weighted average number of shares outstanding	3,291,517	3,099,616
Net income available to common stockholders	$ 1,054,758	$ 1,282,316
Diluted earnings per share (in dollars per share)	$ 0.32	$ 0.41

Loan Commitments And Other Re69

Loan Commitments And Other Related Activities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Loan Commitments and Other Related Activities
Fixed-rate commitments	$ 19,279,000
Commitments to extend credit
Loan Commitments and Other Related Activities
Contractual or notional amounts of financial instruments wherein contractual amounts represent credit risk	12,486,000	$ 18,204,000
Standby letters of credit
Loan Commitments and Other Related Activities
Contractual or notional amounts of financial instruments wherein contractual amounts represent credit risk	310,000	310,000
Unused lines of credit
Loan Commitments and Other Related Activities
Contractual or notional amounts of financial instruments wherein contractual amounts represent credit risk	$ 32,370,000	$ 23,037,000

Loan Commitments and Other Re70

Loan Commitments and Other Related Activities - Future commitments (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Future commitments under operating lease
2,017	$ 105,000
Rental expense under lease
Rental expense	$ 89,000	$ 125,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Assets and Liabilities Measured on Recurring Basis
Fair value asset transfers from Level 1 to Level 2	$ 0	$ 0
Fair value asset transfers from Level 2 to Level 1	0	0
Fair value liability transfers from Level 1 to Level 2	0	0
Fair value liability transfers from Level 2 to Level 1	0	0
Assets:
Securities available-for-sale	664,755	420,248
Recurring
Assets:
Securities available-for-sale	664,755	420,248
Recurring | Level 2
Assets:
Securities available-for-sale	$ 664,755	$ 420,248

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015
Financial assets:
Cash and due from financial institutions	$ 2,567,296	$ 3,037,653
Time deposits with financial institutions	0	500,000
Securities available-for-sale	664,755	420,248
Securities held-to-maturity	801,114	3,298,092
Federal Home Loan Bank stock	229,900	226,800
Loans, net	198,309,920	178,423,486
Accrued interest receivable	1,147,467	1,044,271
Financial liabilities:
Noninterest-bearing deposits	24,296,166	21,779,092
Interest-bearing deposits	162,666,186	152,989,829
Accrued interest payable and other liabilities	1,198,850	18,408,315
Carrying Amount | Level 1
Financial assets:
Cash and due from financial institutions	14,947,296	21,512,653
Federal Home Loan Bank stock	229,900	226,800
Accrued interest receivable	1,147,467	1,765,189
Financial liabilities:
Accrued interest payable and other liabilities	1,198,850	18,408,315
Carrying Amount | Level 2
Financial assets:
Time deposits with financial institutions		500,000
Securities available-for-sale	664,755	420,248
Securities held-to-maturity	781,740	3,276,752
Loans, net	198,309,920	178,423,486
Financial liabilities:
Noninterest-bearing deposits	24,296,166	21,779,092
Interest-bearing deposits	162,666,186	152,989,829
Estimated Fair Value | Level 1
Financial assets:
Cash and due from financial institutions	14,947,000	21,513,000
Federal Home Loan Bank stock	230,000	227,000
Accrued interest receivable	1,147,000	1,765,000
Financial liabilities:
Accrued interest payable and other liabilities	1,199,000	18,408,000
Estimated Fair Value | Level 2
Financial assets:
Time deposits with financial institutions		500,000
Securities available-for-sale	665,000	420,000
Securities held-to-maturity	801,000	3,298,000
Loans, net	198,000,000	178,458,000
Financial liabilities:
Noninterest-bearing deposits	24,296,000	21,779,000
Interest-bearing deposits	170,276,000	151,248,000
Equitable Financial MHC
Financial assets:
Cash and due from financial institutions	$ 6,816,101	$ 17,367,243

Accumulated Other Comprehensi73

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss)
Unrealized holding gains/(losses) on securities available-for-sale	$ 6,176	$ (6,144)
Tax expense (benefit)	(2,100)	2,089
Total accumulated other comprehensive income (loss)	$ 4,076	$ (4,055)

Transactions with Related Par74

Transactions with Related Parties (Details) - Principal officers, directors, and affiliated entities - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Loans and Leases Receivable, Related Parties [Roll Forward]
Beginning balance	$ 1,310,605	$ 1,603,501
New loans or transfers in	1,552,533	5,672,566
Repayments or transfers out	(139,740)	(5,965,462)
Ending balance	2,723,398	1,310,605
Deposits	$ 364,000	$ 328,000

Condensed Financial Informati75

Condensed Financial Information (Holding Company Only) (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Assets
Cash and due from financial institutions	$ 2,567,296	$ 3,037,653
Other assets	1,853,698	1,958,816
Total assets	225,087,177	215,029,713
Liabilities and Stockholders’ Equity
Stockholders' Equity	35,974,086	20,931,210	$ 19,603,672
Total liabilities and stockholders' equity	225,087,177	215,029,713
Equitable Financial MHC
Assets
Cash and due from financial institutions	6,816,101	17,367,243
Investment in Bank	27,153,439	19,738,649
Other assets	2,026,340	1,179,767
Total assets	35,995,880	38,285,659
Liabilities and Stockholders’ Equity
Other liabilities	21,794	17,354,449
Stockholders' Equity	35,974,086	20,931,210
Total liabilities and stockholders' equity	$ 35,995,880	$ 38,285,659

Condensed Financial Informati76

Condensed Financial Information (Holding Company Only) - Statments of Income (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Statements of Income
Interest income	$ 8,379,514	$ 7,434,084
Income tax benefit	(490,806)	(710,224)
Net income	1,054,758	1,282,316
Comprehensive income	1,062,889	1,281,617
Equitable Financial MHC
Condensed Statements of Income
Interest income	78,342	45,379
Professional fees and other expenses	445,625	120,233
Loss before income tax and equity in undistributed net income of subsidiary	(367,283)	(74,854)
Income tax benefit	124,876	25,450
Loss before equity in undistributed net income of subsidiary	(242,407)	(49,404)
Equity in undistributed net income of subsidiary	1,297,165	1,331,720
Net income	1,054,758	1,282,316
Comprehensive income	$ 1,062,889	$ 1,281,617

Condensed Financial Informati77

Condensed Financial Information (Holding Company Only) - Cash Flow (Details) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities:
Net income	$ 1,054,758	$ 1,282,316
Net cash provided by operating activities	3,309,127	1,930,040
Cash Flows from Investing Activities:
Net cash used in investing activities	(18,543,526)	(19,617,122)
Cash Flows From Financing Activities:
ESOP Loan Finance	(951,912)
Proceeds in advance of offering		17,354,449
Net cash provided by financing activities	8,669,042	31,423,430
Increase (decrease) in cash and cash equivalents	(6,565,357)	13,736,348
Cash and Cash Equivalents:
Beginning	21,512,653	7,776,305
Ending	14,947,296	21,512,653
Equitable Financial MHC
Cash Flows from Operating Activities:
Net income	1,054,758	1,282,316
Items not providing cash	(1,168,812)	(1,453,237)
Net cash provided by operating activities	(114,054)	(170,921)
Cash Flows from Investing Activities:
Downstream capital to Bank	(6,930,000)
Net cash used in investing activities	(6,930,000)
Cash Flows From Financing Activities:
ESOP Loan Finance	(951,912)
Proceeds in advance of offering	(2,555,176)	17,354,449
Net cash provided by financing activities	(3,507,088)	17,354,449
Increase (decrease) in cash and cash equivalents	(10,551,142)	17,183,528
Cash and Cash Equivalents:
Beginning	17,367,243	183,715
Ending	$ 6,816,101	$ 17,367,243