Equitable Financial (EQFN) 10-K 28 Sep 17 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2017	Sep. 28, 2017	Dec. 31, 2016
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, 2017
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			$ 28,266,846
Entity Common Stock, Shares Outstanding		3,368,932
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Assets
Cash and due from financial institutions	$ 4,881,007	$ 2,567,296
Interest-earning deposits		12,380,000
Total cash and due from financial institutions and interest-earning deposits	4,881,007	14,947,296
Securities available-for-sale	1,410,955	664,755
Securities held-to-maturity	735,978	781,740
Federal Home Loan Bank stock, at cost	453,400	229,900
Loans, net of allowance for loan losses of $3,555,000 and $2,947,000, respectively	236,545,125	198,309,920
Premises and equipment, net	5,424,855	5,274,461
Foreclosed assets, net	223,200	461,847
Accrued interest receivable	1,297,908	1,147,467
Deferred taxes, net	862,009	1,416,093
Other assets	2,008,051	1,853,698
Total assets	253,842,488	225,087,177
Liabilities:
Noninterest-bearing deposits	29,546,051	24,296,166
Interest-bearing deposits	179,512,265	162,666,186
Total deposits	209,058,316	186,962,352
Federal funds purchased	399,000
Federal Home Loan Bank borrowings	6,745,400
Advance payments from borrowers for taxes and insurance	432,960	387,166
Accrued interest payable and other liabilities	820,229	1,198,850
Total liabilities	217,455,905	188,548,368
Common stock in ESOP subject to contingent repurchase obligation	815,280	564,723
Stockholders’ equity:
Common stock, $0.01 par value, 25,000,000 shares authorized 3,372,532 and 3,477,157 issued and outstanding at June 30, 2017 and June 30, 2016, respectively	33,725	34,771
Additional paid-in capital	25,794,124	26,844,426
Retained earnings	12,474,958	11,239,913
Unearned ESOP Shares	(1,107,692)	(1,246,045)
Shares reserved for stock compensation	(797,950)	(338,332)
Accumulated other comprehensive gain/(loss), net of tax	(10,582)	4,076
Reclassification of ESOP shares	(815,280)	(564,723)
Total stockholders' equity	35,571,303	35,974,086
Total liabilities and stockholders' equity	$ 253,842,488	$ 225,087,177

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Condensed Consolidated Statements of Financial Condition
Allowance for loan losses	$ 3,555,000	$ 2,947,000
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	25,000,000	25,000,000
Common Stock, shares issued	3,372,532	3,477,157
Common Stock, shares outstanding	3,372,532	3,477,157

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Interest income:
Loans	$ 9,225,388	$ 8,228,373
Securities	47,078	79,639
Other	23,111	71,502
Total interest income	9,295,577	8,379,514
Interest expense:
Deposits	1,125,318	1,043,895
Federal Home Loan Bank borrowings	10,970
Other	3,786	792
Total interest expense	1,140,074	1,044,687
Net interest income	8,155,503	7,334,827
Provision for loan losses	644,029	275,024
Net interest income after provision for loan losses	7,511,474	7,059,803
Noninterest income:
Service charges on deposit accounts	631,673	594,624
Brokerage fee income	722,640	633,215
Gain on sale of loans	856,222	750,353
Other loan fees	283,310	264,626
Other income	151,503	141,385
Total noninterest income	2,645,348	2,384,203
Noninterest expense:
Salaries and employee benefits	4,773,321	4,479,207
Director and committee fees	166,000	160,150
Data processing fees	552,608	539,077
Occupancy and equipment	967,055	886,280
Regulatory fees and deposit insurance premium	170,262	206,756
Advertising and public relations	239,677	215,681
Insurance and bond premiums	96,529	98,978
Professional fees	379,076	448,289
Supplies, telephone and postage	275,065	265,254
Other expenses	621,360	598,770
Total noninterest expense	8,240,953	7,898,442
Income before income taxes	1,915,869	1,545,564
Income tax expense	(680,824)	(490,806)
Net income	$ 1,235,045	$ 1,054,758
Basic earnings per share (in dollars per share)	$ 0.37	$ 0.32
Diluted earnings per share (in dollars per share)	$ 0.35	$ 0.32

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 1,235,045	$ 1,054,758
Other comprehensive income:
Unrealized gain (loss) on securities available-for-sale, net of tax	(14,658)	8,131
Comprehensive income	$ 1,220,387	$ 1,062,889

Consolidated Statement of Chang

Consolidated Statement 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 Gain/(Loss)	Amount Reclassified on ESOP Shares	Total
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 (loss)							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
Increase (Decrease) in Stockholders' Equity
Net Income			1,235,045						1,235,045
Other comprehensive income (loss)							(14,658)		(14,658)
Equity Incentive Plan stock issued	635	627,629			(628,264)
Release of unearned ESOP shares		13,751		138,353					152,104
Stock compensation expense		(54,403)			168,646				114,243
Stock Buyback	(1,681)	(1,637,279)							(1,638,960)
Reclassification due to release and changes in fair value of common stock in ESOP subject to contingent repurchase obligation of ESOP shares								(250,557)	(250,557)
BALANCE at Jun. 30, 2017	$ 33,725	$ 25,794,124	$ 12,474,958	$ (1,107,692)	$ (797,950)		$ (10,582)	$ (815,280)	$ 35,571,303

Consolidated Statement of Chan7

Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - shares	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Condensed Consolidated Statements of Changes in Stockholders' Equity
Release of unearned ESOP shares (in shares)	15,857	12,888

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net income	$ 1,235,045	$ 1,054,758
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	342,875	343,651
Federal Home Loan Bank stock dividends	(3,100)	(3,100)
ESOP expense	152,104	105,645
Stock compensation expense	114,243	73,107
Amortization of deferred loan origination costs, net	508,623	480,453
Amortization of premiums and discounts	9,693	16,214
Gain on sale of loans	(856,222)	(750,353)
(Gain)/Loss on sale of foreclosed assets	(4,579)	11,008
Loss on disposal of premises and equipment		58,153
Provision for loan losses	644,029	275,024
Deferred taxes	561,635	344,906
Loans originated for sale	(33,226,181)	(27,572,874)
Proceeds from sale of loans	33,721,173	28,507,437
Loss on investment from low income housing	4,859	28,087
Changes in:
Accrued interest receivable	(150,441)	(103,196)
Other assets	105,164	301,223
Accrued interest payable and other liabilities	(363,621)	138,984
Net cash provided by operating activities	2,795,299	3,309,127
Cash Flows from Investing Activities:
Net change in loans	(39,306,004)	(21,281,161)
Proceeds from sale of foreclosed assets, net	243,226	115,500
Proceeds from maturity of time deposits with financial institutions		500,000
Securities available-for-sale:
Proceeds from calls and principal repayments	209,200	223,292
Purchases	(985,400)	(469,253)
Securities held-to-maturity:
Proceeds from calls and principal repayments	43,861	2,492,571
Purchases	(220,400)
Purchase of premises and equipment	(493,269)	(124,475)
Net cash used in investing activities	(40,508,786)	(18,543,526)
Cash Flows from Financing Activities:
Net change in deposits	22,095,964	12,193,431
Net change in federal funds purchased	399,000
Proceeds from Federal Home Loan Bank borrowings	17,140,400
Repayments of Federal Home Loan Bank borrowings	(10,395,000)
Net change in advance payments from borrowers for taxes and insurance	45,794	(17,301)
Stock Buyback	(1,638,960)
Purchase of ESOP Shares		(951,912)
Expenses and return of proceeds in advance of offering		(2,555,176)
Net cash provided by financing activities	27,647,198	8,669,042
Decrease in cash and cash equivalents	(10,066,289)	(6,565,357)
Cash and Cash Equivalents:
Beginning	14,947,296	21,512,653
Ending	4,881,007	14,947,296
Supplemental Cash Flow Information:
Interest paid on deposits and borrowings	1,131,966	1,041,293
Income taxes paid	$ 162,879	137,765
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, 2017
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. 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, 2017 and 2016 was zero and $12.4 million, respectively. 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, 2017 and June 30, 2016. 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, 2017 and June 30, 2016, 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. Mortgage servicing rights: Mortgage servicing rights are recognized separately when rights are acquired through purchase or through sale of financial assets. The Company subsequently measures each class of servicing assets on the amortization method. Under the amortization method, servicing rights are amortized in proportion to and over the period of estimated net servicing income. The amortized assets are assessed for impairment based on fair value of each reporting date. 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, 2017 and 2016. 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. Stock based compensation: Compensation cost for stock based compensation is recognized based on the fair value of these awards at the date of the grant over the requisite service period, usually the vesting period. The Company uses a Black-Scholes pricing model and related assumption for estimating the fair value of stock options and a five-year vesting period for stock options and restricted stock awards. 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 oth

Securities

Securities	12 Months Ended
	Jun. 30, 2017
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, 2017 Cost Gains Losses Fair Value U.S. Government-sponsored agencies securities $ 986,919 $ — $ (17,974) $ 968,945 Residential mortgage-backed securities 440,070 1,973 (33) 442,010 $ 1,426,989 $ 1,973 $ (18,007) $ 1,410,955 Gross Gross Amortized Unrealized Unrealized June 30, 2016 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 658,579 $ 6,176 $ — $ 664,755 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, 2017 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 135,978 $ 10,279 $ — $ 146,257 Municipal securities 600,000 — (384) 599,616 $ 735,978 $ 10,279 $ (384) $ 745,873 Gross Gross Amortized Unrealized Unrealized June 30, 2016 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 180,035 $ 15,281 $ — $ 195,316 Municipal securities 601,705 4,093 — 605,798 $ 781,740 $ 19,374 $ — $ 801,114 Securities available-for-sale and held-to-maturity consist of investments in bonds securitized by the Government National Mortgage Association, U.S. Government-sponsored agencies, and local municipal securities. Interest income from U.S. Government-sponsored agencies approximated $12,000 and $0 for the years ended June 30, 2017 and 2016, respectively. Interest income from municipal securities approximated $17,000 and $58,000 for the years ended June 30, 2017 and 2016, respectively. The contractual maturities of the residential mortgage-backed securities at June 30, 2017 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 $969,000 of U.S. Government-sponsored agency securities will mature in the year ending June 30, 2023. 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, 2017 and 2016. 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, 2017 and 2016. The following table shows the amount of securities pledged at June 30, 2017 and 2016: June 30, 2017 June 30, 2016 Securities available-for-sale, at fair value $ 1,410,955 $ 664,755 Securities held-to-maturity, at amortized cost 643,978 746,084

Loans

Loans	12 Months Ended
	Jun. 30, 2017
Loans
Loans	Note 3. Loans Loans at June 30 are as follows: 2017 2016 Commercial: Operating $ 20,139,045 $ 15,355,676 Real estate 86,809,938 67,698,929 Agricultural: Operating 26,739,407 22,942,560 Real estate 31,105,790 24,965,541 Residential real estate: 1-4 family 43,060,013 40,309,797 Home equity 11,748,363 12,644,624 Other: Construction and land 16,175,698 13,210,393 Consumer 3,674,674 3,566,917 Total loans 239,452,928 200,694,437 Deferred loan origination costs, net 647,197 562,483 Allowance for loan losses (3,555,000) (2,947,000) (2,907,803) (2,384,517) Loans, net $ 236,545,125 $ 198,309,920 Changes in the allowance for loan losses, by portfolio segment, during the years ended June 30, 2017 and 2016 are summarized as follows: Residential Commercial Agricultural Real Estate Other Total 2017 Balance, beginning $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 Provision charged to expense 396,291 180,000 (1,432) 69,170 644,029 Recoveries 24,511 — 2,620 3,208 30,339 Loans charged off (54,802) — (188) (11,378) (66,368) Balance, ending $ 1,703,000 $ 918,000 $ 656,000 $ 278,000 $ 3,555,000 Residential Commercial Agricultural Real Estate Other Total 2016 Balance, beginning $ 1,124,000 $ 697,000 $ 644,000 $ 118,000 $ 2,583,000 Provision charged to expense 118,418 41,000 9,416 106,190 275,024 Recoveries 94,582 — 1,584 5,551 101,717 Loans charged off — — — (12,741) (12,741) Balance, ending $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 The allowance for loan losses, by impairment evaluation and portfolio segment, as of June 30, 2017 and 2016, is summarized as follows: Residential Commercial Agricultural Real Estate Other Total 2017 Allowance for loans individually evaluated for impairment $ 6,487 $ 17,973 $ 29,271 $ 1,949 $ 55,680 Allowance for loans collectively evaluated for impairment 1,696,513 900,027 626,729 276,051 3,499,320 $ 1,703,000 $ 918,000 $ 656,000 $ 278,000 $ 3,555,000 Loans individually evaluated for impairment $ 870,377 $ 864,357 $ 3,142,020 $ 20,408 $ 4,897,162 Loans collectively evaluated for impairment 106,078,606 56,980,840 51,666,356 19,829,964 234,555,766 $ 106,948,983 $ 57,845,197 $ 54,808,376 $ 19,850,372 $ 239,452,928 Allowance as a percentage of loans individually evaluated for impairment 0.75 % 2.08 % 0.93 % 9.55 % 1.14 % Allowance as a percentage of loans collectively evaluated for impairment 1.60 % 1.58 % 1.21 % 1.39 % 1.49 % Allowance as a percentage of total loans evaluated for impairment 1.59 % 1.59 % 1.20 % 1.40 % 1.48 % Residential Commercial Agricultural Real Estate Other Total 2016 Allowance for loans individually evaluated for impairment $ 34,975 $ — $ 17,828 $ — $ 52,803 Allowance for loans collectively evaluated for impairment 1,302,025 738,000 637,172 217,000 2,894,197 $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 Loans individually evaluated for impairment $ 227,824 $ 885,757 $ 3,726,602 $ 3,194 $ 4,843,377 Loans collectively evaluated for impairment 82,826,781 47,022,344 49,227,819 16,774,116 195,851,060 $ 83,054,605 $ 47,908,101 $ 52,954,421 $ 16,777,310 $ 200,694,437 Allowance as a percentage of loans individually evaluated for impairment 15.35 % — % 0.48 % — % 1.09 % Allowance as a percentage of loans collectively evaluated for impairment 1.57 % 1.57 % 1.29 % 1.29 % 1.48 % Allowance as a percentage of total loans evaluated for impairment 1.61 % 1.54 % 1.24 % 1.29 % 1.47 % The aging in terms of unpaid principal balance of the loan portfolio, by classes of loans, as of June 30, 2017 and 2016, is summarized as follows: > 90 days 31-60 days 61-90 days Past Due Non accrual Current Past Due Past Due (Nonaccrual) Total Loans 2017 Classes of loans: Commercial: Operating $ 20,072,350 $ 33,060 $ 13,240 $ 20,395 $ 20,139,045 $ 154,671 Real estate 86,809,938 — — — 86,809,938 640,881 Agricultural: Operating 26,699,805 32,754 — 6,848 26,739,407 6,848 Real estate 30,263,281 47,900 — 794,609 31,105,790 857,509 Residential real estate: 1-4 family 42,722,767 164,549 — 172,697 43,060,013 675,197 Home equity 11,748,363 — — — 11,748,363 22,649 Other: Construction and land 16,175,698 — — — 16,175,698 — Consumer 3,670,927 — 3,747 — 3,674,674 24,124 $ 238,163,129 $ 278,263 $ 16,987 $ 994,549 $ 239,452,928 $ 2,381,879 As a percentage of total loan portfolio 99.45 % 0.12 % 0.01 % 0.42 % 100.00 % 0.99 % > 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 $ 15,256,328 $ 99,348 $ — $ — $ 15,355,676 $ 97,294 Real estate 67,606,842 — — 92,087 67,698,929 92,087 Agricultural: Operating 22,318,246 624,314 — — 22,942,560 6,848 Real estate 24,965,541 — — — 24,965,541 877,909 Residential real estate: 1-4 family 38,428,793 1,823,353 23,736 33,915 40,309,797 688,454 Home equity 12,644,624 — — — 12,644,624 29,807 Other: Construction and land 13,210,393 — — — 13,210,393 — Consumer 3,563,221 1,294 — 2,402 3,566,917 7,248 $ 197,993,988 $ 2,548,309 $ 23,736 $ 2,402 $ 200,694,437 $ 1,799,647 As a percentage of total loan portfolio 98.66 % 1.27 % 0.01 % 0.06 % 100.00 % 0.90 % For each class of loans, the following summarizes the unpaid principal balance by credit quality indicator as of June 30, 2017 and 2016: Other — Commercial — Commercial — Agricultural — Agricultural — Construction Operating Real Estate Operating Real Estate and Land Total 2017 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ 324,038 $ 326,045 $ — $ 650,083 Good Quality (rating 2) 177,795 6,638,998 5,185,147 3,541,630 2,868,632 18,412,202 Acceptable Quality (rating 3) 8,470,283 44,240,531 9,271,425 12,354,765 10,426,245 84,763,249 Fair Quality (rating 4) 11,313,276 31,603,455 11,489,750 13,116,352 2,880,821 70,403,654 Special Mention (rating 5) — 1,948,017 403,234 — — 2,351,251 Substandard (rating 6) 177,691 2,378,937 65,813 1,766,998 — 4,389,439 Doubtful (rating 7) — — — — — — Loss (rating 8) — — — — — — $ 20,139,045 $ 86,809,938 $ 26,739,407 $ 31,105,790 $ 16,175,698 $ 180,969,878 Other — Commercial — Commercial — Agricultural — Agricultural — Construction Operating Real Estate Operating Real Estate and Land Total 2016 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ 484,813 $ 348,011 $ — $ 832,824 Good Quality (rating 2) 213,824 4,923,002 5,510,208 6,173,479 1,987,892 18,808,405 Acceptable Quality (rating 3) 7,732,341 33,606,696 5,992,063 9,729,301 6,675,761 63,736,162 Fair Quality (rating 4) 7,294,630 28,578,771 9,604,176 7,836,841 4,546,740 57,861,158 Special Mention (rating 5) — — 829,738 — — 829,738 Substandard (rating 6) 114,881 590,460 521,562 877,909 — 2,104,812 Doubtful (rating 7) — — — — — — Loss (rating 8) — — — — — — $ 15,355,676 $ 67,698,929 $ 22,942,560 $ 24,965,541 $ 13,210,393 $ 144,173,099 Residential RE — Residential RE — Other — 1-4 Family Home Equity Consumer Total 2017 Delinquency status*: Performing $ 42,220,268 $ 11,725,714 $ 3,650,519 $ 57,596,501 Nonperforming 839,745 22,649 24,155 886,549 $ 43,060,013 $ 11,748,363 $ 3,674,674 $ 58,483,050 Residential RE — Residential RE — Other — 1-4 Family Home Equity Consumer Total 2016 Delinquency status*: Performing $ 37,832,838 $ 12,614,817 $ 3,558,375 $ 54,006,030 Nonperforming 2,476,959 29,807 8,542 2,515,308 $ 40,309,797 $ 12,644,624 $ 3,566,917 $ 56,521,338 * 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, 2017 and June 30, 2016 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, 2017 and 2016 are summarized as follows: Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized 2017 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 164,823 $ 164,128 $ — $ 163,276 $ 10,709 Real estate 643,226 640,881 — 321,613 14,232 Agricultural: Operating 7,503 6,848 — 7,256 — Real estate 432,468 371,452 — 437,100 — Residential real estate: 1-4 family 2,448,574 2,439,137 — 2,523,171 142,377 Home equity 7,880 7,868 — 8,712 584 3,704,474 3,630,314 — 3,461,128 167,902 Impaired loans with specific allowance recorded: Commercial: Operating 65,701 65,369 6,487 40,279 3,037 Agricultural: Real estate 525,068 486,056 17,973 511,830 951 Residential real estate: 1-4 family 695,327 679,474 28,857 699,391 18,137 Home equity 15,553 15,541 414 16,717 1,240 Other: Consumer 20,433 20,408 1,949 23,116 1,213 1,322,082 1,266,848 55,680 1,291,333 24,578 Total impaired loans: Commercial: Operating 230,524 229,497 6,487 203,555 13,746 Real estate 643,226 640,881 — 321,613 14,232 Agricultural: Operating 7,503 6,848 — 7,256 — Real estate 957,536 857,508 17,973 948,930 951 Residential real estate: 1-4 family 3,143,901 3,118,611 28,857 3,222,562 160,514 Home equity 23,433 23,409 414 25,429 1,824 Other: Consumer 20,433 20,408 1,949 23,116 1,213 $ 5,026,556 $ 4,897,162 $ 55,680 $ 4,752,461 $ 192,480 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 $ 88,902 $ 87,497 $ — $ 57,873 $ 4,560 Agricultural: Operating 8,009 7,848 — 117,809 21,178 Real estate 925,288 877,909 — 834,054 15,344 Residential real estate: 1-4 family 3,330,310 3,320,028 — 3,382,528 185,997 Home equity 59,336 59,123 — 61,455 3,962 Other: Consumer 3,756 3,194 — 5,158 254 4,415,601 4,355,599 — 4,458,877 231,295 Impaired loans with specific allowance recorded: Commercial: Operating 48,302 48,240 4,824 52,274 2,266 Real estate 114,837 92,087 30,151 171,863 — Residential real estate: 1-4 family 330,997 329,623 16,913 336,629 19,949 Home equity 17,882 17,828 915 18,971 1,405 512,018 487,778 52,803 579,737 23,620 Total impaired loans: Commercial: Operating 137,204 135,737 4,824 110,147 6,826 Real estate 114,837 92,087 30,151 171,863 — Agricultural: Operating 8,009 7,848 — 117,809 21,178 Real estate 925,288 877,909 — 834,054 15,344 Residential real estate: 1-4 family 3,661,307 3,649,651 16,913 3,719,157 205,946 Home equity 77,218 76,951 915 80,426 5,367 Other: Consumer 3,756 3,194 — 5,158 254 $ 4,927,619 $ 4,843,377 $ 52,803 $ 5,038,614 $ 254,915 Impaired loans, for which no allowance has been provided as of June 30, 2017 and 2016, 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, 2017 and 2016: June 30, 2017 Number Recorded of TDRs Investment Concession — Extension of maturity: Commercial: Operating 10 $ 177,272 Real estate 1 643,226 Agricultural: Real estate 7 775,731 Residential real estate: 1-4 family 28 1,370,885 Home equity 2 7,881 48 $ 2,974,995 Concession — Reduction of interest rate below market: Commercial: Operating 1 $ 39,836 Residential real estate: 1-4 family 48 1,637,621 Home equity 1 15,553 50 $ 1,693,010 Total: Commercial: Operating 11 $ 217,108 Real estate 1 643,226 Agricultural: Real estate 7 775,731 Residential real estate: 1-4 family 76 3,008,506 Home equity 3 23,434 98 $ 4,668,005 June 30, 2016 Number Recorded of TDRs Investment Concession — Extension of maturity: Commercial: Operating 5 $ 76,088 Real estate 2 103,462 Agricultural: Operating 1 1,000 Real estate 7 732,633 Residential real estate: 1-4 family 36 1,769,362 Home equity 4 59,336 Other: Consumer 1 3,756 56 $ 2,745,637 Concession — Reduction of interest rate below market: Commercial: Operating 1 $ 48,302 Residential real estate: 1-4 family 48 1,722,564 Home equity 1 17,882 50 $ 1,788,748 Total: Commercial: Operating 6 $ 124,390 Real estate 2 103,462 Agricultural: Operating 1 1,000 Real estate 7 732,633 Residential real estate: 1-4 family 84 3,491,926 Home equity 5 77,218 Other: Consumer 1 3,756 106 $ 4,534,385 The following summarizes the number and investment in TDRs, by type of concession, that were restructured during the years ended June 30, 2017 and 2016: Number Recorded For the year ended June 30, 2017 of TDRs Investment Concession — Extension of maturity: Commercial: Operating 3 $ 77,919 Real estate 1 643,226 Residential real estate: 1-4 family 1 128,075 5 $ 849,220 Total: Commercial: Operating 3 $ 77,919 Real estate 1 643,226 Residential real estate: 1-4 family 1 128,075 5 $ 849,220 Number Recorded For the year ended June 30, 2016 of TDRs Investment Concession — Extension of maturity: Commercial: Operating 2 $ 65,085 Agricultural: Operating 1 1,000 Real estate 6 $ 483,556 Residential real estate: 1-4 family 3 $ 268,490 12 $ 818,131 Total: Commercial: Operating 2 $ 65,085 Agricultural: Operating 1 1,000 Real estate 6 $ 483,556 Residential real estate: 1-4 family 3 $ 268,490 12 $ 818,131

Loan Servicing

Loan Servicing	12 Months Ended
	Jun. 30, 2017
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 $112,128,000 and $100,745,000 at June 30, 2017 and 2016, respectively. Included in other assets are approximately $853,000 and $701,000 of mortgage servicing rights at June 30, 2017 and 2016, respectively. During the years ended June 30, 2017 and 2016, the Company sold approximately $33,721,000 and $28,507,000, 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 $856,000 and $750,000 for years ended June 30, 2017 and 2016, 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, 2017 and 2016, the amount of conventional loans outstanding that were originated and sold to the FHLB in the MPF was $26,882,089 and $20,078,590, respectively, with possible credit enhancement losses capped at $583,203 and $1,035,414 at June 30, 2017 and 2016, respectively. The Company has no history of losses and no losses were accrued in the Company’s consolidated financial statements at June 30, 2017 and 2016.

Accrued Interest Receivable

Accrued Interest Receivable	12 Months Ended
	Jun. 30, 2017
Accrued Interest Receivable
Accrued Interest Receivable	Note 5. Accrued Interest Receivable Accrued interest receivable at June 30 is summarized as follows: 2017 2016 Securities $ 5,373 $ 3,259 Loans 1,292,535 1,144,208 $ 1,297,908 $ 1,147,467

Premises and Equipment, Net

Premises and Equipment, Net	12 Months Ended
	Jun. 30, 2017
Premises and Equipment, Net
Premises and Equipment, Net	Note 6. Premises and Equipment, Net Premises and equipment, net at June 30 are as follows: 2017 2016 Land and land improvements $ 1,485,458 $ 1,337,723 Buildings and improvements 7,038,547 6,923,640 Furniture and equipment 1,282,315 1,252,015 Computer equipment 471,979 492,766 Vehicles 57,016 57,016 10,335,315 10,063,160 Less accumulated depreciation (4,910,460) (4,788,699) $ 5,424,855 $ 5,274,461

Deposits

Deposits	12 Months Ended
	Jun. 30, 2017
Deposits
Deposits	Note 7. Deposits Deposits as of June 30 are as follows: 2017 2016 Noninterest-bearing demand $ 29,546,051 $ 24,296,166 Interest-bearing NOW 49,252,671 42,734,473 Money market 67,039,151 60,352,403 Savings 17,104,400 14,869,638 Certificates of deposit 46,116,043 44,709,672 $ 209,058,316 $ 186,962,352 Certificates of deposit of $250,000 or more were approximately $4,737,000 and $3,866,000 at June 30, 2017 and 2016, respectively. At June 30, 2017, the scheduled maturities of certificates of deposit are as follows: Year Ending June 30, 2018 $ 21,990,649 2019 13,386,469 2020 6,041,736 2021 1,445,231 2022 and beyond 3,251,958 $ 46,116,043 Interest expense on deposit accounts is summarized as follows for the years ended June 30: 2017 2016 Interest-bearing NOW $ 186,561 $ 169,242 Money market 477,148 403,825 Savings 38,922 33,941 Certificates of deposit 422,687 436,887 $ 1,125,318 $ 1,043,895

Borrowings

Borrowings	12 Months Ended
	Jun. 30, 2017
Borrowings
Borrowings	Note 8. Borrowings The Company has a line of credit with the FHLB of Topeka which expires July 6, 2018. The line of credit accrues interest at a variable rate (1.24% at June 30, 2017). At June 30, 2017 the balance in the line of credit was $6,745,400. At June 30, 2016 there was no balance in the line of credit with 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, 2017 and 2016, approximately $61.8 million and $49.5 million, respectively, of real estate loans collateralized the advances. At June 30, 2017, the Company had the ability to borrow an additional $35.3 million in FHLB advances. The Company has an unsecured line with Midwest Independent Bank, Pacific Cost Bankers Bank and Zions Bank. At June 30, 2017 the Company had an outstanding balance of $399,000 with Midwest Independent Bank. At June 30, 2016 there was no outstanding balances on these line of credits. At June 30, 2017, the Company had the ability to borrow $4.6 million from Midwest Independent Bank, $4.0 million from Pacific Coast Bankers Bank, and $6.0 million with Zions Bank

Regulatory Matters

Regulatory Matters	12 Months Ended
	Jun. 30, 2017
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, 2017, 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, 2017 Total capital (to risk-weighted assets) $ 30,893 13.2 % $ 18,740 8.0 % $ 23,425 10.0 % Common equity Tier 1 capital (to risk-weighted assets) 27,956 11.9 % 10,541 4.5 % 15,226 6.5 % Tier 1 (core) capital (to risk-weighted assets) 27,956 11.9 % 14,055 6.0 % 18,740 8.0 % Tier 1 (core) capital (to adjusted total assets) 27,956 11.4 % 9,806 4.0 % 12,257 5.0 % June 30, 2016 Total capital (to risk-weighted assets) $ 28,977 14.7 % $ 15,805 8.0 % $ 19,757 10.0 % Common equity Tier 1 capital (to risk-weighted 26,500 13.4 % 8,891 4.5 % 12,842 6.5 % Tier 1 (core) capital (to risk-weighted assets) 26,500 13.4 % 11,854 6.0 % 15,805 8.0 % Tier 1 (core) capital (to adjusted total assets) 26,500 11.6 % 9,114 4.0 % 11,393 5.0 % 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. The new minimum capital level requirements applicable to Equitable Bank are: (i) a new common equity Tier 1 capital ratio of 4.5%; (ii) a Tier 1 capital to risk-weighted assets ratio of 6% (increased from 4%); (iii) a total capital to risk-weighted assets ratio of 8% (unchanged from prior rules); and (iv) a Tier 1 leverage ratio of 4%. The rules also establish a “capital conservation buffer” of 2.5% above the new regulatory minimum capital ratios resulting in the following ratios: (i) a common equity Tier 1 capital ratio of 7.0%, (ii) a Tier 1 capital to risk-weighted assets ratio of 8.5%; (iii) a total capital to risk-weighted assets ratio of 10.5%; and a tier 1 leverage ratio unchanged at 4%. The phase-in period for the capital conservation buffer requirement started January 1, 2016 at 0.625% of risk-weighted assets and will increase each year until fully implemented in January 2019. An institution is subject to further limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses of its capital level falls below the buffer amount. These limitations establish a maximum percentage of eligible retained income that can be utilized for such actions. The minimum requirements do not include the capital conservation buffer.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2017
Income Taxes
Income Taxes	Note 10. Income tax expense for the year ended June 30 is as follows: 2017 2016 Current: Federal $ (35,227) $ (73,021) State (83,962) (72,879) Deferred: Federal (561,635) (344,906) $ (680,824) $ (490,806) 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: 2017 2016 Provision computed at the statutory federal tax rate $ (651,395) $ (525,492) State income taxes, net of federal tax (55,045) (48,100) Valuation allowance adjustment — 79,000 Return-to-provision, net 24,562 (32,837) Other 1,054 36,623 Total income tax expense $ (680,824) $ (490,806) Retained earnings at June 30, 2017 and 2016 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. The net deferred tax asset at June 30 is as follows: 2017 2016 Gross deferred tax assets: Allowance for loan losses $ 1,208,020 $ 1,001,980 Net operating loss carryover — 530,899 General business credits 324,364 324,364 Foreclosed asset writedowns 50,592 50,592 Unrealized loss on securities 6,393 — Other 50,760 245,290 1,640,129 2,153,125 Gross deferred tax liabilities: Additions in excess of base year loan reserve (572,404) (585,334) Depreciation (73,623) (68,425) FHLB stock dividends (74,630) (77,656) Unrealized gain on securities — (2,100) Other (57,463) (3,517) (778,120) (737,032) Net deferred tax asset $ 862,009 $ 1,416,093 No significant income tax uncertainties were identified. Therefore, the Company recognized no adjustment for unrecognized income tax benefits during the years ended June 30, 2017 and 2016. Corporate tax returns for the 2014 through 2016 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, 2017 and 2016, there were no interest and penalties recognized, nor were any balances for the payment of interest and penalties accrued at June 30, 2017 and 2016.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Jun. 30, 2017
Employee Benefit Plans
Employee Benefit Plans	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 approximately $121,000 and $100,000 for the years ended June 30, 2017 and 2016, 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. 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 $152,104 and $105,645 for shares that were released and committed to be released for the years ended June 30, 2017 and 2016, respectively. Shares held by the ESOP at June 30 were as follows: 2017 2016 Allocated shares 86,104 71,803 Shares allocated to be released 7,929 7,932 Unearned ESOP shares 134,843 150,700 Total ESOP shares 228,876 230,435 Fair value of unearned ESOP shares $ 1,348,430 $ 1,252,317 Fair value of allocated shares subject to repurchase obligation $ 815,280 $ 564,723 The Company approved the Equitable Financial Corp. 2006 Equity Incentive Plan (“2006 Plan”) in November 2006 and the Equitable Financial Corp. 2016 Equity Incentive Plan (“2016 Plan”) in November 2016. Both plans provide 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 at 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 five-year vesting periods during which participants are required to provide services in exchange for the awards. As of December 31, 2016 the 2006 plan has been terminated. The maximum number of shares authorized under the 2016 Plan is 198,316 stock options and 79,326 shares of restricted stock to employees and directors. As of June 30, 2017 158,653 stock options and 63,461 stock awards were awarded. These options and awards were all granted in February 2017 at an exercise price of $9.90 per share. The table below represents the stock option activity for the period shown: Weighted Remaining Average Contractual Awards Exercise Price Life (Years) Options outstanding at July 1, 2016 — $ — — Granted 158,653 9.90 9.70 Options outstanding at June 30, 2017 158,653 $ 9.90 9.70 The cost of the stock options will be amortized in monthly installments over the noted five-year vesting period, with the first vesting date of February 21, 2018. Stock option expense for the year ended June 30, 2017 was $14,067. The fair value of the Company’s stock options was determined using the Black-Schols option pricing formula. The following assumptions were used in the formula: Expected Volatility 9.54 % Risk-free interest rate 1.90 % Expected dividend yield — Expected life (in years) Exercise price for the stock options $ Expected volatility – Based on the historical volatility of share price of the Company. Risk-free interest rate – Based on the U.S. Treasury yield curve and expected life of the options at the time of grant. Dividend yield – The Company had not paid any dividends at the time of valuation. Expected life – Based on five-year vesting period. Exercise price for the stock options – Based on the closing price of the Company’s stock on the date of grant. 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. 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 43,094 4.02 Conversion for stock offering 3,907 — Granted 4,900 8.53 Vested (12,620) 4.02 Non-vested at June 30, 2016 39,281 4.32 Non-vested at July 1, 2016 39,281 4.32 Granted 63,461 9.90 Vested (13,617) 4.32 Non-vested at June 30, 2016 89,125 6.97 As of June 30, 2017, there was $670,319 of total unrecognized compensation costs related to non-vested restricted stock awards. The cost is expected to be recognized over a weighted-average period of 4.3 years. Compensation expense attributable to the restricted stock awards totaled $100,176 and $105,645 for the years ended June 30, 2017 and 2016, respectively.

Earnings per Share

Earnings per Share	12 Months Ended
	Jun. 30, 2017
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: 2017 2016 Weighted average common shares outstanding 3,299,269 3,264,979 Net income available to common stockholders $ 1,235,045 $ 1,054,758 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: 2017 2016 Weighted average common shares outstanding 3,299,269 3,264,979 Dilutive effect of net additional shares from restricted stock awards and stock options 200,289 26,538 Weighted average number of shares outstanding 3,499,558 3,291,517 Net income available to common stockholders $ 1,235,045 $ 1,054,758 Diluted earnings per share $ $

Loan Commitments and Other Rela

Loan Commitments and Other Related Activities	12 Months Ended
	Jun. 30, 2017
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: 2017 2016 Financial instruments wherein contractual amounts represent credit risk: Commitments to extend credit $ 19,271,000 $ 12,486,000 Standby letters of credit 200,000 310,000 Unused lines of credit 33,227,000 32,370,000 At June 30, 2017, fixed-rate commitments were approximately $24,745,000. 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 2022. Future commitments under the operating lease approximate the following: Year Ending June 30, 2018 $ 110,000 2019 110,000 2020 110,000 2021 110,000 2022 110,000 Rental expense, included in occupancy and equipment expense in the consolidated statements of income, totaled approximately $81,000 and $89,000 for the years ended June 30, 2017 and 2016, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Jun. 30, 2017
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, 2017 and 2016, nor were there any changes in valuation techniques used for assets or liabilities measured at fair value at June 30, 2017 and 2016. 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, 2017 and 2016, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Fair Value Measurement at June 30, 2017 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 $ 1,410,955 $ — $ 1,410,955 $ — 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 $ 664,755 $ — $ 664,755 $ — 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, 2017 and 2016 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. Mortgage servicing rights — The fair value is based on a discounted cash flow analysis calculated using a proprietary valuation model from a third party. 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, 2017 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ 4,881,007 $ 4,881,000 Securities available-for-sale See previous table 1,410,955 1,411,000 Securities held-to-maturity Level 2 735,978 746,000 Federal Home Loan Bank stock Level 1 453,400 453,000 Loans, net Level 2 236,545,125 232,931,000 Mortgage servicing rights Level 2 852,715 1,089,000 Accrued interest receivable Level 1 1,297,908 1,298,000 Financial liabilities: Noninterest-bearing deposits Level 2 29,546,051 29,546,000 Interest-bearing deposits Level 2 179,512,265 185,040,000 Federal Home Loan Bank borrowings Level 2 6,745,400 6,745,000 Accrued interest payable and other liabilities Level 1 820,229 820,000 Fair Value Carrying Estimated June 30, 2016 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ 14,947,296 $ 14,947,000 Securities available-for-sale See previous table 664,755 665,000 Securities held-to-maturity Level 2 781,740 801,000 Federal Home Loan Bank stock Level 1 229,900 230,000 Loans, net Level 2 198,309,920 198,000,000 Mortgage servicing rights Level 2 701,293 841,000 Accrued interest receivable Level 1 1,147,467 1,147,000 Financial liabilities: Noninterest-bearing deposits Level 2 24,296,166 24,296,000 Interest-bearing deposits Level 2 162,666,186 170,276,000 Accrued interest payable and other liabilities Level 1 1,198,850 1,199,000

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Jun. 30, 2017
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: 2017 2016 Unrealized holding gains (losses) on securities available-for-sale $ (16,034) $ 6,176 Tax benefit 5,452 (2,100) $ (10,582) $ 4,076

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
	Jun. 30, 2017
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: 2017 2016 Beginning balance $ 2,723,398 $ 1,310,605 New loans or transfers in 4,133,252 1,552,533 Repayments or transfers out (1,120,301) (139,740) Ending balance $ 5,736,349 $ 2,723,398 Deposits from principal officers, directors, and their affiliates at June 30, 2017 and 2016 approximated $1,047,000 and $364,000, respectively.

Condensed Financial Information

Condensed Financial Information (Holding Company Only)	12 Months Ended
	Jun. 30, 2017
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, 2017 2016 Assets Cash and due from financial institutions $ 5,046,023 $ 6,816,101 Investment in Bank 28,547,549 27,153,439 Other assets 2,007,731 2,026,340 Total assets $ 35,601,303 $ 35,995,880 Liabilities and Stockholders’ Equity Other liabilities $ 30,000 $ 21,794 Stockholders' equity 35,571,303 35,974,086 Total liabilities and stockholders’ equity $ 35,601,303 $ 35,995,880 Condensed Statements of Income Year Ended June 30, 2017 2016 Interest income $ 82,092 $ 78,342 Professional fees and other expenses 355,237 445,625 Loss before income tax and equity in undistributed net income of subsidiary (273,145) (367,283) Income tax benefit 115,212 124,876 Loss before equity in undistributed net income of subsidiary (157,933) (242,407) Equity in undistributed net income of subsidiary 1,392,978 1,297,165 Net income $ 1,235,045 $ 1,054,758 Comprehensive income $ 1,220,387 $ 1,062,889 Condensed Statements of Cash Flows Year Ended June 30, 2017 2016 Cash Flows from Operating Activities: Net income $ 1,235,045 $ 1,054,758 Items not providing cash (1,366,163) (1,168,812) Net cash used by operating activities (131,118) (114,054) Cash Flows from Investing Activities: Downstream capital to Bank $ — $ (6,930,000) Net cash used by investing activities — (6,930,000) Cash Flows from Financing Activities: ESOP Loan Finance $ — $ (951,912) Stock buyback (1,638,960) — Proceeds in advance of offering — (2,555,176) Net cash used by financing activities (1,638,960) (3,507,088) Decrease in cash and cash equivalents (1,770,078) (10,551,142) Cash and Cash Equivalents Beginning 6,816,101 17,367,243 Ending $ 5,046,023 $ 6,816,101

Stock Buyback

Stock Buyback	12 Months Ended
	Jun. 30, 2017
Stock Buyback
Stock Buyback	Note 18. Stock Buyback The Company announced a stock repurchase plan on October 7, 2016 whereby the Company could repurchase up to 173,857 shares of its common stock, or approximately 5% of the then current outstanding shares. There were 168,086 shares of the Company’s common stock repurchased by the Company during the year ended June 30, 2017, and there were 5,771 yet to be repurchased under the plan as of June 30, 2017. The following table provides information regarding the Company’s purchase of its common stock during the year ended June 30, 2017: Total Number of Shares Purchased Maximum Number of Weighted as Part of Publicly Shares that May Yet Be Total Number of Average Price Announced Plans Purchased Under the Period Shares Purchased Paid Per Share or Programs Plans or Programs 10/1/16 - 10/31/16 — $ — — 173,857 11/1/16 - 11/30/16 60,000 9.07 60,000 113,857 12/1/16 - 12/31/16 26,455 9.57 86,455 87,402 01/1/17 - 01/31/17 — — 86,455 87,402 02/1/17 - 02/28/17 — — 86,455 87,402 03/1/17 - 03/31/17 22,200 10.25 108,655 65,202 04/1/17 - 04/30/17 5,000 10.25 113,655 60,202 05/1/17 - 05/31/17 49,000 10.25 162,655 11,202 06/1/17 - 06/30/17 5,431 10.17 168,086 5,771 Total 168,086 $ 9.72

Nature of Business and Signif27

Nature of Business and Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2017
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. 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, 2017 and 2016 was zero and $12.4 million, respectively.
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, 2017 and June 30, 2016.
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, 2017 and June 30, 2016, 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.
Mortgage servicing rights	Mortgage servicing rights: Mortgage servicing rights are recognized separately when rights are acquired through purchase or through sale of financial assets. The Company subsequently measures each class of servicing assets on the amortization method. Under the amortization method, servicing rights are amortized in proportion to and over the period of estimated net servicing income. The amortized assets are assessed for impairment based on fair value of each reporting date.
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, 2017 and 2016.
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.
Stock based compensation	Stock based compensation: Compensation cost for stock based compensation is recognized based on the fair value of these awards at the date of the grant over the requisite service period, usually the vesting period. The Company uses a Black-Scholes pricing model and related assumption for estimating the fair value of stock options and a five-year vesting period for stock options and restricted stock awards.
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 May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The ASU is effective for the Company with the fiscal year ending June 30, 2019. FASB issued this ASU to clarify the principles for recognizing revenue and to develop a common revenue standard. The Company believes this will have a minimal impact on its financial statements. 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 will be effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. 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. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows; Classification of Certain Cash Receipts and Cash Payments. The purpose of this Update is to address existing diversity in practice related to specific cash flow issues. This Update will be effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory. The purpose of this Update is to improve the accounting for income tax consequences of intra-entity transfers of assets other than inventory. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other. The purposes of this Update is to simplify how an entity is required to test goodwill for impairment. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In February 2017, the FASB issued ASU 2017-05 Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets. The purpose of this Update is to clarify the scope for recognizing gains and losses from the transfer of nonfinancial assets in contracts with noncustomers and add guidance for partial sales of nonfinancing assets. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-08 Receivables – Nonrefundable Fees and Other Costs. The purpose of this Update is to shorten the amortization period of certain callable debt securities held at a premium. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In May 2017, the FASB issued ASU 2017-09 Compensation – Stock Compensation. The purpose of this Update is to provide clarity and reduce both diversity in practice and cost and complexity when applying the guidance in Topic 718, Compensation – Stock Compensation, to a change to the terms or conditions of a share-based payment award. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements.

Securities (Tables)

Securities (Tables)	12 Months Ended
	Jun. 30, 2017
Securities
Schedule of securities available-for-sale	Gross Gross Amortized Unrealized Unrealized June 30, 2017 Cost Gains Losses Fair Value U.S. Government-sponsored agencies securities $ 986,919 $ — $ (17,974) $ 968,945 Residential mortgage-backed securities 440,070 1,973 (33) 442,010 $ 1,426,989 $ 1,973 $ (18,007) $ 1,410,955 Gross Gross Amortized Unrealized Unrealized June 30, 2016 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 658,579 $ 6,176 $ — $ 664,755
Schedule of securities held-to-maturity	Gross Gross Amortized Unrealized Unrealized June 30, 2017 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 135,978 $ 10,279 $ — $ 146,257 Municipal securities 600,000 — (384) 599,616 $ 735,978 $ 10,279 $ (384) $ 745,873 Gross Gross Amortized Unrealized Unrealized June 30, 2016 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 180,035 $ 15,281 $ — $ 195,316 Municipal securities 601,705 4,093 — 605,798 $ 781,740 $ 19,374 $ — $ 801,114
Schedule of amount of securities pledged	June 30, 2017 June 30, 2016 Securities available-for-sale, at fair value $ 1,410,955 $ 664,755 Securities held-to-maturity, at amortized cost 643,978 746,084

Loans (Tables)

Loans (Tables)	12 Months Ended
	Jun. 30, 2017
Loans
Summary of loans	2017 2016 Commercial: Operating $ 20,139,045 $ 15,355,676 Real estate 86,809,938 67,698,929 Agricultural: Operating 26,739,407 22,942,560 Real estate 31,105,790 24,965,541 Residential real estate: 1-4 family 43,060,013 40,309,797 Home equity 11,748,363 12,644,624 Other: Construction and land 16,175,698 13,210,393 Consumer 3,674,674 3,566,917 Total loans 239,452,928 200,694,437 Deferred loan origination costs, net 647,197 562,483 Allowance for loan losses (3,555,000) (2,947,000) (2,907,803) (2,384,517) Loans, net $ 236,545,125 $ 198,309,920
Summary of changes in the allowance for loan losses by portfolio segment	Residential Commercial Agricultural Real Estate Other Total 2017 Balance, beginning $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 Provision charged to expense 396,291 180,000 (1,432) 69,170 644,029 Recoveries 24,511 — 2,620 3,208 30,339 Loans charged off (54,802) — (188) (11,378) (66,368) Balance, ending $ 1,703,000 $ 918,000 $ 656,000 $ 278,000 $ 3,555,000 Residential Commercial Agricultural Real Estate Other Total 2016 Balance, beginning $ 1,124,000 $ 697,000 $ 644,000 $ 118,000 $ 2,583,000 Provision charged to expense 118,418 41,000 9,416 106,190 275,024 Recoveries 94,582 — 1,584 5,551 101,717 Loans charged off — — — (12,741) (12,741) Balance, ending $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000
Summary of allowance for loan losses by impairment evaluation and portfolio segment	Residential Commercial Agricultural Real Estate Other Total 2017 Allowance for loans individually evaluated for impairment $ 6,487 $ 17,973 $ 29,271 $ 1,949 $ 55,680 Allowance for loans collectively evaluated for impairment 1,696,513 900,027 626,729 276,051 3,499,320 $ 1,703,000 $ 918,000 $ 656,000 $ 278,000 $ 3,555,000 Loans individually evaluated for impairment $ 870,377 $ 864,357 $ 3,142,020 $ 20,408 $ 4,897,162 Loans collectively evaluated for impairment 106,078,606 56,980,840 51,666,356 19,829,964 234,555,766 $ 106,948,983 $ 57,845,197 $ 54,808,376 $ 19,850,372 $ 239,452,928 Allowance as a percentage of loans individually evaluated for impairment 0.75 % 2.08 % 0.93 % 9.55 % 1.14 % Allowance as a percentage of loans collectively evaluated for impairment 1.60 % 1.58 % 1.21 % 1.39 % 1.49 % Allowance as a percentage of total loans evaluated for impairment 1.59 % 1.59 % 1.20 % 1.40 % 1.48 % Residential Commercial Agricultural Real Estate Other Total 2016 Allowance for loans individually evaluated for impairment $ 34,975 $ — $ 17,828 $ — $ 52,803 Allowance for loans collectively evaluated for impairment 1,302,025 738,000 637,172 217,000 2,894,197 $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 Loans individually evaluated for impairment $ 227,824 $ 885,757 $ 3,726,602 $ 3,194 $ 4,843,377 Loans collectively evaluated for impairment 82,826,781 47,022,344 49,227,819 16,774,116 195,851,060 $ 83,054,605 $ 47,908,101 $ 52,954,421 $ 16,777,310 $ 200,694,437 Allowance as a percentage of loans individually evaluated for impairment 15.35 % — % 0.48 % — % 1.09 % Allowance as a percentage of loans collectively evaluated for impairment 1.57 % 1.57 % 1.29 % 1.29 % 1.48 % Allowance as a percentage of total loans evaluated for impairment 1.61 % 1.54 % 1.24 % 1.29 % 1.47 %
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 2017 Classes of loans: Commercial: Operating $ 20,072,350 $ 33,060 $ 13,240 $ 20,395 $ 20,139,045 $ 154,671 Real estate 86,809,938 — — — 86,809,938 640,881 Agricultural: Operating 26,699,805 32,754 — 6,848 26,739,407 6,848 Real estate 30,263,281 47,900 — 794,609 31,105,790 857,509 Residential real estate: 1-4 family 42,722,767 164,549 — 172,697 43,060,013 675,197 Home equity 11,748,363 — — — 11,748,363 22,649 Other: Construction and land 16,175,698 — — — 16,175,698 — Consumer 3,670,927 — 3,747 — 3,674,674 24,124 $ 238,163,129 $ 278,263 $ 16,987 $ 994,549 $ 239,452,928 $ 2,381,879 As a percentage of total loan portfolio 99.45 % 0.12 % 0.01 % 0.42 % 100.00 % 0.99 % > 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 $ 15,256,328 $ 99,348 $ — $ — $ 15,355,676 $ 97,294 Real estate 67,606,842 — — 92,087 67,698,929 92,087 Agricultural: Operating 22,318,246 624,314 — — 22,942,560 6,848 Real estate 24,965,541 — — — 24,965,541 877,909 Residential real estate: 1-4 family 38,428,793 1,823,353 23,736 33,915 40,309,797 688,454 Home equity 12,644,624 — — — 12,644,624 29,807 Other: Construction and land 13,210,393 — — — 13,210,393 — Consumer 3,563,221 1,294 — 2,402 3,566,917 7,248 $ 197,993,988 $ 2,548,309 $ 23,736 $ 2,402 $ 200,694,437 $ 1,799,647 As a percentage of total loan portfolio 98.66 % 1.27 % 0.01 % 0.06 % 100.00 % 0.90 %
Summary of unpaid principal balance by credit quality indicator	Other — Commercial — Commercial — Agricultural — Agricultural — Construction Operating Real Estate Operating Real Estate and Land Total 2017 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ 324,038 $ 326,045 $ — $ 650,083 Good Quality (rating 2) 177,795 6,638,998 5,185,147 3,541,630 2,868,632 18,412,202 Acceptable Quality (rating 3) 8,470,283 44,240,531 9,271,425 12,354,765 10,426,245 84,763,249 Fair Quality (rating 4) 11,313,276 31,603,455 11,489,750 13,116,352 2,880,821 70,403,654 Special Mention (rating 5) — 1,948,017 403,234 — — 2,351,251 Substandard (rating 6) 177,691 2,378,937 65,813 1,766,998 — 4,389,439 Doubtful (rating 7) — — — — — — Loss (rating 8) — — — — — — $ 20,139,045 $ 86,809,938 $ 26,739,407 $ 31,105,790 $ 16,175,698 $ 180,969,878 Other — Commercial — Commercial — Agricultural — Agricultural — Construction Operating Real Estate Operating Real Estate and Land Total 2016 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ 484,813 $ 348,011 $ — $ 832,824 Good Quality (rating 2) 213,824 4,923,002 5,510,208 6,173,479 1,987,892 18,808,405 Acceptable Quality (rating 3) 7,732,341 33,606,696 5,992,063 9,729,301 6,675,761 63,736,162 Fair Quality (rating 4) 7,294,630 28,578,771 9,604,176 7,836,841 4,546,740 57,861,158 Special Mention (rating 5) — — 829,738 — — 829,738 Substandard (rating 6) 114,881 590,460 521,562 877,909 — 2,104,812 Doubtful (rating 7) — — — — — — Loss (rating 8) — — — — — — $ 15,355,676 $ 67,698,929 $ 22,942,560 $ 24,965,541 $ 13,210,393 $ 144,173,099 Residential RE — Residential RE — Other — 1-4 Family Home Equity Consumer Total 2017 Delinquency status*: Performing $ 42,220,268 $ 11,725,714 $ 3,650,519 $ 57,596,501 Nonperforming 839,745 22,649 24,155 886,549 $ 43,060,013 $ 11,748,363 $ 3,674,674 $ 58,483,050 Residential RE — Residential RE — Other — 1-4 Family Home Equity Consumer Total 2016 Delinquency status*: Performing $ 37,832,838 $ 12,614,817 $ 3,558,375 $ 54,006,030 Nonperforming 2,476,959 29,807 8,542 2,515,308 $ 40,309,797 $ 12,644,624 $ 3,566,917 $ 56,521,338 * 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 2017 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 164,823 $ 164,128 $ — $ 163,276 $ 10,709 Real estate 643,226 640,881 — 321,613 14,232 Agricultural: Operating 7,503 6,848 — 7,256 — Real estate 432,468 371,452 — 437,100 — Residential real estate: 1-4 family 2,448,574 2,439,137 — 2,523,171 142,377 Home equity 7,880 7,868 — 8,712 584 3,704,474 3,630,314 — 3,461,128 167,902 Impaired loans with specific allowance recorded: Commercial: Operating 65,701 65,369 6,487 40,279 3,037 Agricultural: Real estate 525,068 486,056 17,973 511,830 951 Residential real estate: 1-4 family 695,327 679,474 28,857 699,391 18,137 Home equity 15,553 15,541 414 16,717 1,240 Other: Consumer 20,433 20,408 1,949 23,116 1,213 1,322,082 1,266,848 55,680 1,291,333 24,578 Total impaired loans: Commercial: Operating 230,524 229,497 6,487 203,555 13,746 Real estate 643,226 640,881 — 321,613 14,232 Agricultural: Operating 7,503 6,848 — 7,256 — Real estate 957,536 857,508 17,973 948,930 951 Residential real estate: 1-4 family 3,143,901 3,118,611 28,857 3,222,562 160,514 Home equity 23,433 23,409 414 25,429 1,824 Other: Consumer 20,433 20,408 1,949 23,116 1,213 $ 5,026,556 $ 4,897,162 $ 55,680 $ 4,752,461 $ 192,480 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 $ 88,902 $ 87,497 $ — $ 57,873 $ 4,560 Agricultural: Operating 8,009 7,848 — 117,809 21,178 Real estate 925,288 877,909 — 834,054 15,344 Residential real estate: 1-4 family 3,330,310 3,320,028 — 3,382,528 185,997 Home equity 59,336 59,123 — 61,455 3,962 Other: Consumer 3,756 3,194 — 5,158 254 4,415,601 4,355,599 — 4,458,877 231,295 Impaired loans with specific allowance recorded: Commercial: Operating 48,302 48,240 4,824 52,274 2,266 Real estate 114,837 92,087 30,151 171,863 — Residential real estate: 1-4 family 330,997 329,623 16,913 336,629 19,949 Home equity 17,882 17,828 915 18,971 1,405 512,018 487,778 52,803 579,737 23,620 Total impaired loans: Commercial: Operating 137,204 135,737 4,824 110,147 6,826 Real estate 114,837 92,087 30,151 171,863 — Agricultural: Operating 8,009 7,848 — 117,809 21,178 Real estate 925,288 877,909 — 834,054 15,344 Residential real estate: 1-4 family 3,661,307 3,649,651 16,913 3,719,157 205,946 Home equity 77,218 76,951 915 80,426 5,367 Other: Consumer 3,756 3,194 — 5,158 254 $ 4,927,619 $ 4,843,377 $ 52,803 $ 5,038,614 $ 254,915
Summary of the number and recorded investment of troubled debt restructurings ("TDRs")	June 30, 2017 Number Recorded of TDRs Investment Concession — Extension of maturity: Commercial: Operating 10 $ 177,272 Real estate 1 643,226 Agricultural: Real estate 7 775,731 Residential real estate: 1-4 family 28 1,370,885 Home equity 2 7,881 48 $ 2,974,995 Concession — Reduction of interest rate below market: Commercial: Operating 1 $ 39,836 Residential real estate: 1-4 family 48 1,637,621 Home equity 1 15,553 50 $ 1,693,010 Total: Commercial: Operating 11 $ 217,108 Real estate 1 643,226 Agricultural: Real estate 7 775,731 Residential real estate: 1-4 family 76 3,008,506 Home equity 3 23,434 98 $ 4,668,005 June 30, 2016 Number Recorded of TDRs Investment Concession — Extension of maturity: Commercial: Operating 5 $ 76,088 Real estate 2 103,462 Agricultural: Operating 1 1,000 Real estate 7 732,633 Residential real estate: 1-4 family 36 1,769,362 Home equity 4 59,336 Other: Consumer 1 3,756 56 $ 2,745,637 Concession — Reduction of interest rate below market: Commercial: Operating 1 $ 48,302 Residential real estate: 1-4 family 48 1,722,564 Home equity 1 17,882 50 $ 1,788,748 Total: Commercial: Operating 6 $ 124,390 Real estate 2 103,462 Agricultural: Operating 1 1,000 Real estate 7 732,633 Residential real estate: 1-4 family 84 3,491,926 Home equity 5 77,218 Other: Consumer 1 3,756 106 $ 4,534,385
Summary of the number and investment in TDRs by type of concession that were restructured	Number Recorded For the year ended June 30, 2017 of TDRs Investment Concession — Extension of maturity: Commercial: Operating 3 $ 77,919 Real estate 1 643,226 Residential real estate: 1-4 family 1 128,075 5 $ 849,220 Total: Commercial: Operating 3 $ 77,919 Real estate 1 643,226 Residential real estate: 1-4 family 1 128,075 5 $ 849,220 Number Recorded For the year ended June 30, 2016 of TDRs Investment Concession — Extension of maturity: Commercial: Operating 2 $ 65,085 Agricultural: Operating 1 1,000 Real estate 6 $ 483,556 Residential real estate: 1-4 family 3 $ 268,490 12 $ 818,131 Total: Commercial: Operating 2 $ 65,085 Agricultural: Operating 1 1,000 Real estate 6 $ 483,556 Residential real estate: 1-4 family 3 $ 268,490 12 $ 818,131

Accrued Interest Receivable (Ta

Accrued Interest Receivable (Tables)	12 Months Ended
	Jun. 30, 2017
Accrued Interest Receivable
Schedule of components of accrued interest receivable	2017 2016 Securities $ 5,373 $ 3,259 Loans 1,292,535 1,144,208 $ 1,297,908 $ 1,147,467

Premises and Equipment, Net (Ta

Premises and Equipment, Net (Tables)	12 Months Ended
	Jun. 30, 2017
Premises and Equipment, Net
Schedule of premises and equipment, net	2017 2016 Land and land improvements $ 1,485,458 $ 1,337,723 Buildings and improvements 7,038,547 6,923,640 Furniture and equipment 1,282,315 1,252,015 Computer equipment 471,979 492,766 Vehicles 57,016 57,016 10,335,315 10,063,160 Less accumulated depreciation (4,910,460) (4,788,699) $ 5,424,855 $ 5,274,461

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Jun. 30, 2017
Deposits
Schedule of deposits	2017 2016 Noninterest-bearing demand $ 29,546,051 $ 24,296,166 Interest-bearing NOW 49,252,671 42,734,473 Money market 67,039,151 60,352,403 Savings 17,104,400 14,869,638 Certificates of deposit 46,116,043 44,709,672 $ 209,058,316 $ 186,962,352
Schedule of maturities of certificates of deposit	Year Ending June 30, 2018 $ 21,990,649 2019 13,386,469 2020 6,041,736 2021 1,445,231 2022 and beyond 3,251,958 $ 46,116,043
Summary of interest expense on deposit accounts	2017 2016 Interest-bearing NOW $ 186,561 $ 169,242 Money market 477,148 403,825 Savings 38,922 33,941 Certificates of deposit 422,687 436,887 $ 1,125,318 $ 1,043,895

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Jun. 30, 2017
Equitable Bank
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, 2017 Total capital (to risk-weighted assets) $ 30,893 13.2 % $ 18,740 8.0 % $ 23,425 10.0 % Common equity Tier 1 capital (to risk-weighted assets) 27,956 11.9 % 10,541 4.5 % 15,226 6.5 % Tier 1 (core) capital (to risk-weighted assets) 27,956 11.9 % 14,055 6.0 % 18,740 8.0 % Tier 1 (core) capital (to adjusted total assets) 27,956 11.4 % 9,806 4.0 % 12,257 5.0 % June 30, 2016 Total capital (to risk-weighted assets) $ 28,977 14.7 % $ 15,805 8.0 % $ 19,757 10.0 % Common equity Tier 1 capital (to risk-weighted 26,500 13.4 % 8,891 4.5 % 12,842 6.5 % Tier 1 (core) capital (to risk-weighted assets) 26,500 13.4 % 11,854 6.0 % 15,805 8.0 % Tier 1 (core) capital (to adjusted total assets) 26,500 11.6 % 9,114 4.0 % 11,393 5.0 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2017
Income Taxes
Schedule of income tax expense	2017 2016 Current: Federal $ (35,227) $ (73,021) State (83,962) (72,879) Deferred: Federal (561,635) (344,906) $ (680,824) $ (490,806)
Schedule of reconciliation of the provision for income taxes	2017 2016 Provision computed at the statutory federal tax rate $ (651,395) $ (525,492) State income taxes, net of federal tax (55,045) (48,100) Valuation allowance adjustment — 79,000 Return-to-provision, net 24,562 (32,837) Other 1,054 36,623 Total income tax expense $ (680,824) $ (490,806)
Schedule of net deferred tax asset	2017 2016 Gross deferred tax assets: Allowance for loan losses $ 1,208,020 $ 1,001,980 Net operating loss carryover — 530,899 General business credits 324,364 324,364 Foreclosed asset writedowns 50,592 50,592 Unrealized loss on securities 6,393 — Other 50,760 245,290 1,640,129 2,153,125 Gross deferred tax liabilities: Additions in excess of base year loan reserve (572,404) (585,334) Depreciation (73,623) (68,425) FHLB stock dividends (74,630) (77,656) Unrealized gain on securities — (2,100) Other (57,463) (3,517) (778,120) (737,032) Net deferred tax asset $ 862,009 $ 1,416,093

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Jun. 30, 2017
Employee Benefit Plans
Summary of ESOP shares	2017 2016 Allocated shares 86,104 71,803 Shares allocated to be released 7,929 7,932 Unearned ESOP shares 134,843 150,700 Total ESOP shares 228,876 230,435 Fair value of unearned ESOP shares $ 1,348,430 $ 1,252,317 Fair value of allocated shares subject to repurchase obligation $ 815,280 $ 564,723
Schedule of stock option activity	Weighted Remaining Average Contractual Awards Exercise Price Life (Years) Options outstanding at July 1, 2016 — $ — — Granted 158,653 9.90 9.70 Options outstanding at June 30, 2017 158,653 $ 9.90 9.70
Schedule of assumptions used in options valuation	Expected Volatility 9.54 % Risk-free interest rate 1.90 % Expected dividend yield — Expected life (in years) Exercise price for the stock options $
Schedule of restricted stock award activity	Service-Based Weighted Stock Grant Date Awards Fair Value Non-vested at July 1, 2015 43,094 4.02 Conversion for stock offering 3,907 — Granted 4,900 8.53 Vested (12,620) 4.02 Non-vested at June 30, 2016 39,281 4.32 Non-vested at July 1, 2016 39,281 4.32 Granted 63,461 9.90 Vested (13,617) 4.32 Non-vested at June 30, 2016 89,125 6.97

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Jun. 30, 2017
Earnings per Share
Schedule of reconciliation of the components used to compute basic earnings per share	2017 2016 Weighted average common shares outstanding 3,299,269 3,264,979 Net income available to common stockholders $ 1,235,045 $ 1,054,758 Basic earnings per share $ $
Schedule of reconciliation of the components used to compute diluted earnings per share	2017 2016 Weighted average common shares outstanding 3,299,269 3,264,979 Dilutive effect of net additional shares from restricted stock awards and stock options 200,289 26,538 Weighted average number of shares outstanding 3,499,558 3,291,517 Net income available to common stockholders $ 1,235,045 $ 1,054,758 Diluted earnings per share $ $

Loan Commitments and Other Re37

Loan Commitments and Other Related Activities (Tables)	12 Months Ended
	Jun. 30, 2017
Loan Commitments and Other Related Activities
Schedule of contractual or notional amounts of loan commitments and other related activities	2017 2016 Financial instruments wherein contractual amounts represent credit risk: Commitments to extend credit $ 19,271,000 $ 12,486,000 Standby letters of credit 200,000 310,000 Unused lines of credit 33,227,000 32,370,000
Summary of future commitments under the operating lease	Year Ending June 30, 2018 $ 110,000 2019 110,000 2020 110,000 2021 110,000 2022 110,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Jun. 30, 2017
Fair Value Measurements
Summary of fair value of assets and liabilities measured on a recurring basis	Fair Value Measurement at June 30, 2017 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 $ 1,410,955 $ — $ 1,410,955 $ — 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 $ 664,755 $ — $ 664,755 $ —
Schedule of carrying and estimated fair value of financial instruments	Fair Value Carrying Estimated June 30, 2017 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ 4,881,007 $ 4,881,000 Securities available-for-sale See previous table 1,410,955 1,411,000 Securities held-to-maturity Level 2 735,978 746,000 Federal Home Loan Bank stock Level 1 453,400 453,000 Loans, net Level 2 236,545,125 232,931,000 Mortgage servicing rights Level 2 852,715 1,089,000 Accrued interest receivable Level 1 1,297,908 1,298,000 Financial liabilities: Noninterest-bearing deposits Level 2 29,546,051 29,546,000 Interest-bearing deposits Level 2 179,512,265 185,040,000 Federal Home Loan Bank borrowings Level 2 6,745,400 6,745,000 Accrued interest payable and other liabilities Level 1 820,229 820,000 Fair Value Carrying Estimated June 30, 2016 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ 14,947,296 $ 14,947,000 Securities available-for-sale See previous table 664,755 665,000 Securities held-to-maturity Level 2 781,740 801,000 Federal Home Loan Bank stock Level 1 229,900 230,000 Loans, net Level 2 198,309,920 198,000,000 Mortgage servicing rights Level 2 701,293 841,000 Accrued interest receivable Level 1 1,147,467 1,147,000 Financial liabilities: Noninterest-bearing deposits Level 2 24,296,166 24,296,000 Interest-bearing deposits Level 2 162,666,186 170,276,000 Accrued interest payable and other liabilities Level 1 1,198,850 1,199,000

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss)
Schedule of components of accumulated other comprehensive income/(loss)	2017 2016 Unrealized holding gains (losses) on securities available-for-sale $ (16,034) $ 6,176 Tax benefit 5,452 (2,100) $ (10,582) $ 4,076

Transactions with Related Par40

Transactions with Related Parties (Tables)	12 Months Ended
	Jun. 30, 2017
Transactions with Related Parties
Schedule of transactions with related parties	2017 2016 Beginning balance $ 2,723,398 $ 1,310,605 New loans or transfers in 4,133,252 1,552,533 Repayments or transfers out (1,120,301) (139,740) Ending balance $ 5,736,349 $ 2,723,398

Condensed Financial Informati41

Condensed Financial Information (Holding Company Only) (Tables)	12 Months Ended
	Jun. 30, 2017
Condensed Financial Information (Holding Company Only)
Condensed Balance Sheets	Condensed Balance Sheets June 30, 2017 2016 Assets Cash and due from financial institutions $ 5,046,023 $ 6,816,101 Investment in Bank 28,547,549 27,153,439 Other assets 2,007,731 2,026,340 Total assets $ 35,601,303 $ 35,995,880 Liabilities and Stockholders’ Equity Other liabilities $ 30,000 $ 21,794 Stockholders' equity 35,571,303 35,974,086 Total liabilities and stockholders’ equity $ 35,601,303 $ 35,995,880
Condensed Statements of Income	Condensed Statements of Income Year Ended June 30, 2017 2016 Interest income $ 82,092 $ 78,342 Professional fees and other expenses 355,237 445,625 Loss before income tax and equity in undistributed net income of subsidiary (273,145) (367,283) Income tax benefit 115,212 124,876 Loss before equity in undistributed net income of subsidiary (157,933) (242,407) Equity in undistributed net income of subsidiary 1,392,978 1,297,165 Net income $ 1,235,045 $ 1,054,758 Comprehensive income $ 1,220,387 $ 1,062,889
Condensed Statements of Cash Flows	Condensed Statements of Cash Flows Year Ended June 30, 2017 2016 Cash Flows from Operating Activities: Net income $ 1,235,045 $ 1,054,758 Items not providing cash (1,366,163) (1,168,812) Net cash used by operating activities (131,118) (114,054) Cash Flows from Investing Activities: Downstream capital to Bank $ — $ (6,930,000) Net cash used by investing activities — (6,930,000) Cash Flows from Financing Activities: ESOP Loan Finance $ — $ (951,912) Stock buyback (1,638,960) — Proceeds in advance of offering — (2,555,176) Net cash used by financing activities (1,638,960) (3,507,088) Decrease in cash and cash equivalents (1,770,078) (10,551,142) Cash and Cash Equivalents Beginning 6,816,101 17,367,243 Ending $ 5,046,023 $ 6,816,101

Stock Buyback (Tables)

Stock Buyback (Tables)	12 Months Ended
	Jun. 30, 2017
Stock Buyback
Common stock purchased during the period	Total Number of Shares Purchased Maximum Number of Weighted as Part of Publicly Shares that May Yet Be Total Number of Average Price Announced Plans Purchased Under the Period Shares Purchased Paid Per Share or Programs Plans or Programs 10/1/16 - 10/31/16 — $ — — 173,857 11/1/16 - 11/30/16 60,000 9.07 60,000 113,857 12/1/16 - 12/31/16 26,455 9.57 86,455 87,402 01/1/17 - 01/31/17 — — 86,455 87,402 02/1/17 - 02/28/17 — — 86,455 87,402 03/1/17 - 03/31/17 22,200 10.25 108,655 65,202 04/1/17 - 04/30/17 5,000 10.25 113,655 60,202 05/1/17 - 05/31/17 49,000 10.25 162,655 11,202 06/1/17 - 06/30/17 5,431 10.17 168,086 5,771 Total 168,086 $ 9.72

Nature of Business and Signif43

Nature of Business and Significant Accounting Policies - Stock Conversion (Details) - $ / shares	Jul. 08, 2015	Jun. 30, 2017	Jun. 30, 2016
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%

Nature of Business and Signif44

Nature of Business and Significant Accounting Policies - Cash flows (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Cash and due from financial institutions	$ 4,881,007	$ 14,947,296
Midwest Independent Bank
Cash and due from financial institutions	$ 0	$ 12,400,000

Nature of Business and Signif45

Nature of Business and Significant Accounting Policies - Loans (Details)	12 Months Ended
	Jun. 30, 2017USD ($)
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 Signif46

Nature of Business and Significant Accounting Policies - Impairment and Stock based compensation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Long-term assets
Recognized impairment	$ 0	$ 0
Award vesting period	5 years
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, 2017	Jun. 30, 2016
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	$ 1,426,989
Investment securities available-for-sale , gross unrealized gains	1,973
Investment securities available-for-sale , gross unrealized losses	(18,007)
Securities available-for-sale	1,410,955	$ 664,755
Investment securities held-to-maturity, amortized cost	735,978	781,740
Investment securities held-to-maturity , gross unrealized gains	10,279	19,374
Investment securities held-to-maturity , gross unrealized losses	(384)
Investment securities held-to-maturity, estimated fair value	745,873	801,114
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
Interest income	47,078	79,639
Securities sold	0	0
Securities available-for-sale, at fair value	1,410,955	664,755
Securities held-to-maturity, at amortized cost	643,978	746,084
Residential mortgage-backed securities
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	440,070	658,579
Investment securities available-for-sale , gross unrealized gains	1,973	6,176
Investment securities available-for-sale , gross unrealized losses	(33)
Securities available-for-sale	442,010	664,755
Investment securities held-to-maturity, amortized cost	135,978	180,035
Investment securities held-to-maturity , gross unrealized gains	10,279	15,281
Investment securities held-to-maturity, estimated fair value	146,257	195,316
Municipal securities
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities held-to-maturity, amortized cost	600,000	601,705
Investment securities held-to-maturity , gross unrealized gains		4,093
Investment securities held-to-maturity , gross unrealized losses	(384)
Investment securities held-to-maturity, estimated fair value	599,616	605,798
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
Interest income	17,000	58,000
Held-to-maturity securities maturing June 30, 2019	400,000
U.S. Government-sponsored agencies securities
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	986,919
Investment securities available-for-sale , gross unrealized losses	(17,974)
Securities available-for-sale	968,945
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
Interest income	12,000	$ 0
Securities maturing in the year ending June 30, 2023	$ 969,000

Loans (Details)

Loans (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Loans disclosures
Total loans	$ 239,452,928	$ 200,694,437
Deferred loan origination costs, net	647,197	562,483
Allowance for loan losses	(3,555,000)	(2,947,000)	$ (2,583,000)
Deferred loan origination costs and allowance	(2,907,803)	(2,384,517)
Loans, net	236,545,125	198,309,920
Commercial
Loans disclosures
Total loans	106,948,983	83,054,605
Allowance for loan losses	(1,703,000)	(1,337,000)	(1,124,000)
Commercial | Operating
Loans disclosures
Total loans	20,139,045	15,355,676
Commercial | Real Estate
Loans disclosures
Total loans	86,809,938	67,698,929
Agricultural
Loans disclosures
Total loans	57,845,197	47,908,101
Allowance for loan losses	(918,000)	(738,000)	(697,000)
Agricultural | Operating
Loans disclosures
Total loans	26,739,407	22,942,560
Agricultural | Real Estate
Loans disclosures
Total loans	31,105,790	24,965,541
Residential
Loans disclosures
Total loans	54,808,376	52,954,421
Allowance for loan losses	(656,000)	(655,000)	(644,000)
Residential | 1 - 4 family
Loans disclosures
Total loans	43,060,013	40,309,797
Residential | Consumer - Home equity and lines of credit
Loans disclosures
Total loans	11,748,363	12,644,624
Other
Loans disclosures
Total loans	19,850,372	16,777,310
Allowance for loan losses	(278,000)	(217,000)	$ (118,000)
Other | Construction and land
Loans disclosures
Total loans	16,175,698	13,210,393
Other | Consumer - Personal
Loans disclosures
Total loans	$ 3,674,674	$ 3,566,917

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Allowance for loan losses:
Balance, beginning	$ 2,947,000	$ 2,583,000
Provision charged to expense	644,029	275,024
Recoveries	30,339	101,717
Loans charged off	(66,368)	(12,741)
Balance, ending	3,555,000	2,947,000
Commercial
Allowance for loan losses:
Balance, beginning	1,337,000	1,124,000
Provision charged to expense	396,291	118,418
Recoveries	24,511	94,582
Loans charged off	(54,802)
Balance, ending	1,703,000	1,337,000
Agricultural
Allowance for loan losses:
Balance, beginning	738,000	697,000
Provision charged to expense	180,000	41,000
Balance, ending	918,000	738,000
Residential
Allowance for loan losses:
Balance, beginning	655,000	644,000
Provision charged to expense	(1,432)	9,416
Recoveries	2,620	1,584
Loans charged off	(188)
Balance, ending	656,000	655,000
Other
Allowance for loan losses:
Balance, beginning	217,000	118,000
Provision charged to expense	69,170	106,190
Recoveries	3,208	5,551
Loans charged off	(11,378)	(12,741)
Balance, ending	$ 278,000	$ 217,000

Loans - Impairment Evaluation (

Loans - Impairment Evaluation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 55,680	$ 52,803
Allowance for loans collectively evaluated for impairment	3,499,320	2,894,197
Total Allowance	3,555,000	2,947,000	$ 2,583,000
Loan balances
Loans individually evaluated for impairment	4,897,162	4,843,377
Loans collectively evaluated for impairment	234,555,766	195,851,060
Total loans	$ 239,452,928	$ 200,694,437
Allowance as percentage of loans:
Allowance as a percentage of loans individually evaluated for impairment	1.14%	1.09%
Allowance as a percentage of loans collectively evaluated for impairment	1.49%	1.48%
Allowance as a percentage of total loans evaluated for impairment	1.48%	1.47%
Commercial
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 6,487	$ 34,975
Allowance for loans collectively evaluated for impairment	1,696,513	1,302,025
Total Allowance	1,703,000	1,337,000	1,124,000
Loan balances
Loans individually evaluated for impairment	870,377	227,824
Loans collectively evaluated for impairment	106,078,606	82,826,781
Total loans	$ 106,948,983	$ 83,054,605
Allowance as percentage of loans:
Allowance as a percentage of loans individually evaluated for impairment	0.75%	15.35%
Allowance as a percentage of loans collectively evaluated for impairment	1.60%	1.57%
Allowance as a percentage of total loans evaluated for impairment	1.59%	1.61%
Agricultural
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 17,973
Allowance for loans collectively evaluated for impairment	900,027	$ 738,000
Total Allowance	918,000	738,000	697,000
Loan balances
Loans individually evaluated for impairment	864,357	885,757
Loans collectively evaluated for impairment	56,980,840	47,022,344
Total loans	$ 57,845,197	$ 47,908,101
Allowance as percentage of loans:
Allowance as a percentage of loans individually evaluated for impairment	2.08%
Allowance as a percentage of loans collectively evaluated for impairment	1.58%	1.57%
Allowance as a percentage of total loans evaluated for impairment	1.59%	1.54%
Residential
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 29,271	$ 17,828
Allowance for loans collectively evaluated for impairment	626,729	637,172
Total Allowance	656,000	655,000	644,000
Loan balances
Loans individually evaluated for impairment	3,142,020	3,726,602
Loans collectively evaluated for impairment	51,666,356	49,227,819
Total loans	$ 54,808,376	$ 52,954,421
Allowance as percentage of loans:
Allowance as a percentage of loans individually evaluated for impairment	0.93%	0.48%
Allowance as a percentage of loans collectively evaluated for impairment	1.21%	1.29%
Allowance as a percentage of total loans evaluated for impairment	1.20%	1.24%
Other
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 1,949
Allowance for loans collectively evaluated for impairment	276,051	$ 217,000
Total Allowance	278,000	217,000	$ 118,000
Loan balances
Loans individually evaluated for impairment	20,408	3,194
Loans collectively evaluated for impairment	19,829,964	16,774,116
Total loans	$ 19,850,372	$ 16,777,310
Allowance as percentage of loans:
Allowance as a percentage of loans individually evaluated for impairment	9.55%
Allowance as a percentage of loans collectively evaluated for impairment	1.39%	1.29%
Allowance as a percentage of total loans evaluated for impairment	1.40%	1.29%

Loans - Aging Unpaid Principal

Loans - Aging Unpaid Principal (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Summary of aging in terms of unpaid principal balance
Current	$ 238,163,129	$ 197,993,988
Total loans	239,452,928	200,694,437
Nonaccrual Loans	$ 2,381,879	$ 1,799,647
As a percentage of total loan portfolio
Current, Percentage	99.45%	98.66%
Total Loans, Percentage	100.00%	100.00%
Nonaccrual Loans, Percentage	0.99%	0.90%
31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	$ 278,263	$ 2,548,309
As a percentage of total loan portfolio
31-60 Days Past Due, Percentage	0.12%	1.27%
61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	$ 16,987	$ 23,736
As a percentage of total loan portfolio
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	$ 994,549	$ 2,402
As a percentage of total loan portfolio
Greater Than 90 Days Past Due, Percentage	0.42%	0.06%
Commercial
Summary of aging in terms of unpaid principal balance
Total loans	$ 106,948,983	$ 83,054,605
Commercial | Operating
Summary of aging in terms of unpaid principal balance
Current	20,072,350	15,256,328
Total loans	20,139,045	15,355,676
Nonaccrual Loans	154,671	97,294
Commercial | Operating | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	33,060	99,348
Commercial | Operating | 61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	13,240
Commercial | Operating | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	20,395
Commercial | Real Estate
Summary of aging in terms of unpaid principal balance
Current	86,809,938	67,606,842
Total loans	86,809,938	67,698,929
Nonaccrual Loans	640,881	92,087
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	57,845,197	47,908,101
Agricultural | Operating
Summary of aging in terms of unpaid principal balance
Current	26,699,805	22,318,246
Total loans	26,739,407	22,942,560
Nonaccrual Loans	6,848	6,848
Agricultural | Operating | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	32,754	624,314
Agricultural | Operating | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	6,848
Agricultural | Real Estate
Summary of aging in terms of unpaid principal balance
Current	30,263,281	24,965,541
Total loans	31,105,790	24,965,541
Nonaccrual Loans	857,509	877,909
Agricultural | Real Estate | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	47,900
Agricultural | Real Estate | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	794,609
Residential
Summary of aging in terms of unpaid principal balance
Total loans	54,808,376	52,954,421
Residential | 1 - 4 family
Summary of aging in terms of unpaid principal balance
Current	42,722,767	38,428,793
Total loans	43,060,013	40,309,797
Nonaccrual Loans	675,197	688,454
Residential | 1 - 4 family | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	164,549	1,823,353
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
Residential | 1 - 4 family | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	172,697	33,915
Residential | Consumer - Home equity and lines of credit
Summary of aging in terms of unpaid principal balance
Current	11,748,363	12,644,624
Total loans	11,748,363	12,644,624
Nonaccrual Loans	22,649	29,807
Other
Summary of aging in terms of unpaid principal balance
Total loans	19,850,372	16,777,310
Other | Construction and land
Summary of aging in terms of unpaid principal balance
Current	16,175,698	13,210,393
Total loans	16,175,698	13,210,393
Other | Consumer - Personal
Summary of aging in terms of unpaid principal balance
Current	3,670,927	3,563,221
Total loans	3,674,674	3,566,917
Nonaccrual Loans	24,124	7,248
Other | Consumer - Personal | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due		1,294
Other | Consumer - Personal | 61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	$ 3,747
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, 2017	Jun. 30, 2016
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 239,452,928	$ 200,694,437
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	$ 180,969,878	144,173,099
Financing Receivable Risk Rating Minimum Review Period	12 months
Maximum aggregate exposure not requiring a loan review within 12 months of most recent credit review	$ 250,000
Commercial
Unpaid principal balance by credit quality indicator
Unpaid principal balance	106,948,983	83,054,605
Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	20,139,045	15,355,676
Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	86,809,938	67,698,929
Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	57,845,197	47,908,101
Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	26,739,407	22,942,560
Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	31,105,790	24,965,541
Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	58,483,050	56,521,338
Residential
Unpaid principal balance by credit quality indicator
Unpaid principal balance	54,808,376	52,954,421
Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	43,060,013	40,309,797
Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,748,363	12,644,624
Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	19,850,372	16,777,310
Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	16,175,698	13,210,393
Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,674,674	3,566,917
Highest Quality (rating 1) | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	650,083	832,824
Highest Quality (rating 1) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	324,038	484,813
Highest Quality (rating 1) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	326,045	348,011
Good Quality (rating 2) | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	18,412,202	18,808,405
Good Quality (rating 2) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	177,795	213,824
Good Quality (rating 2) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	6,638,998	4,923,002
Good Quality (rating 2) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	5,185,147	5,510,208
Good Quality (rating 2) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,541,630	6,173,479
Good Quality (rating 2) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,868,632	1,987,892
Acceptable Quality (rating 3) | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	84,763,249	63,736,162
Acceptable Quality (rating 3) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	8,470,283	7,732,341
Acceptable Quality (rating 3) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	44,240,531	33,606,696
Acceptable Quality (rating 3) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	9,271,425	5,992,063
Acceptable Quality (rating 3) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,354,765	9,729,301
Acceptable Quality (rating 3) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	10,426,245	6,675,761
Fair Quality (rating 4) | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	70,403,654	57,861,158
Fair Quality (rating 4) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,313,276	7,294,630
Fair Quality (rating 4) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	31,603,455	28,578,771
Fair Quality (rating 4) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,489,750	9,604,176
Fair Quality (rating 4) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	13,116,352	7,836,841
Fair Quality (rating 4) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,880,821	4,546,740
Special Mention | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,351,251	829,738
Special Mention | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,948,017
Special Mention | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	403,234	829,738
Substandard | Commercial and Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	4,389,439	2,104,812
Substandard | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	177,691	114,881
Substandard | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,378,937	590,460
Substandard | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	65,813	521,562
Substandard | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,766,998	877,909
Performing | Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	57,596,501	54,006,030
Performing | Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	42,220,268	37,832,838
Performing | Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,725,714	12,614,817
Performing | Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,650,519	3,558,375
Nonperforming | Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	886,549	2,515,308
Nonperforming | Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	839,745	2,476,959
Nonperforming | Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	22,649	29,807
Nonperforming | Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 24,155	$ 8,542

Loans - Impaired (Details)

Loans - Impaired (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Impaired loans with no specific allowance recorded:
Recorded Investment	$ 3,704,474	$ 4,415,601
Unpaid Principal Balance	3,630,314	4,355,599
Average Recorded Investment	3,461,128	4,458,877
Interest Income Recognized	167,902	231,295
Impaired loans with specific allowance recorded:
Recorded Investment	1,322,082	512,018
Unpaid Principal Balance	1,266,848	487,778
Related Allowance	55,680	52,803
Average Recorded Investment	1,291,333	579,737
Interest Income Recognized	24,578	23,620
Total impaired loans:
Recorded Investment	5,026,556	4,927,619
Unpaid Principal Balance	4,897,162	4,843,377
Related Allowance	55,680	52,803
Average Recorded Investment	4,752,461	5,038,614
Interest Income Recognized	192,480	254,915
Commercial | Operating
Impaired loans with no specific allowance recorded:
Recorded Investment	164,823	88,902
Unpaid Principal Balance	164,128	87,497
Average Recorded Investment	163,276	57,873
Interest Income Recognized	10,709	4,560
Impaired loans with specific allowance recorded:
Recorded Investment	65,701	48,302
Unpaid Principal Balance	65,369	48,240
Related Allowance	6,487	4,824
Average Recorded Investment	40,279	52,274
Interest Income Recognized	3,037	2,266
Total impaired loans:
Recorded Investment	230,524	137,204
Unpaid Principal Balance	229,497	135,737
Related Allowance	6,487	4,824
Average Recorded Investment	203,555	110,147
Interest Income Recognized	13,746	6,826
Commercial | Real Estate
Impaired loans with no specific allowance recorded:
Recorded Investment	643,226
Unpaid Principal Balance	640,881
Average Recorded Investment	321,613
Interest Income Recognized	14,232
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	643,226	114,837
Unpaid Principal Balance	640,881	92,087
Related Allowance		30,151
Average Recorded Investment	321,613	171,863
Interest Income Recognized	14,232
Agricultural | Operating
Impaired loans with no specific allowance recorded:
Recorded Investment	7,503	8,009
Unpaid Principal Balance	6,848	7,848
Average Recorded Investment	7,256	117,809
Interest Income Recognized		21,178
Total impaired loans:
Recorded Investment	7,503	8,009
Unpaid Principal Balance	6,848	7,848
Average Recorded Investment	7,256	117,809
Interest Income Recognized		21,178
Agricultural | Real Estate
Impaired loans with no specific allowance recorded:
Recorded Investment	432,468	925,288
Unpaid Principal Balance	371,452	877,909
Average Recorded Investment	437,100	834,054
Interest Income Recognized		15,344
Impaired loans with specific allowance recorded:
Recorded Investment	525,068
Unpaid Principal Balance	486,056
Related Allowance	17,973
Average Recorded Investment	511,830
Interest Income Recognized	951
Total impaired loans:
Recorded Investment	957,536	925,288
Unpaid Principal Balance	857,508	877,909
Related Allowance	17,973
Average Recorded Investment	948,930	834,054
Interest Income Recognized	951	15,344
Residential | 1 - 4 family
Impaired loans with no specific allowance recorded:
Recorded Investment	2,448,574	3,330,310
Unpaid Principal Balance	2,439,137	3,320,028
Average Recorded Investment	2,523,171	3,382,528
Interest Income Recognized	142,377	185,997
Impaired loans with specific allowance recorded:
Recorded Investment	695,327	330,997
Unpaid Principal Balance	679,474	329,623
Related Allowance	28,857	16,913
Average Recorded Investment	699,391	336,629
Interest Income Recognized	18,137	19,949
Total impaired loans:
Recorded Investment	3,143,901	3,661,307
Unpaid Principal Balance	3,118,611	3,649,651
Related Allowance	28,857	16,913
Average Recorded Investment	3,222,562	3,719,157
Interest Income Recognized	160,514	205,946
Residential | Consumer - Home equity and lines of credit
Impaired loans with no specific allowance recorded:
Recorded Investment	7,880	59,336
Unpaid Principal Balance	7,868	59,123
Average Recorded Investment	8,712	61,455
Interest Income Recognized	584	3,962
Impaired loans with specific allowance recorded:
Recorded Investment	15,553	17,882
Unpaid Principal Balance	15,541	17,828
Related Allowance	414	915
Average Recorded Investment	16,717	18,971
Interest Income Recognized	1,240	1,405
Total impaired loans:
Recorded Investment	23,433	77,218
Unpaid Principal Balance	23,409	76,951
Related Allowance	414	915
Average Recorded Investment	25,429	80,426
Interest Income Recognized	1,824	5,367
Other | Consumer - Personal
Impaired loans with no specific allowance recorded:
Recorded Investment		3,756
Unpaid Principal Balance		3,194
Average Recorded Investment		5,158
Interest Income Recognized		254
Impaired loans with specific allowance recorded:
Recorded Investment	20,433
Unpaid Principal Balance	20,408
Related Allowance	1,949
Average Recorded Investment	23,116
Interest Income Recognized	1,213
Total impaired loans:
Recorded Investment	20,433	3,756
Unpaid Principal Balance	20,408	3,194
Related Allowance	1,949
Average Recorded Investment	23,116	5,158
Interest Income Recognized	$ 1,213	$ 254

Loans - TDRs (Details)

Loans - TDRs (Details)	Jun. 30, 2017USD ($)item	Jun. 30, 2016USD ($)item
Summary of troubled debt restructured loans
Number of TDRs | item	98	106
Recorded Investment | $	$ 4,668,005	$ 4,534,385
Extension of maturity
Summary of troubled debt restructured loans
Number of TDRs | item	48	56
Recorded Investment | $	$ 2,974,995	$ 2,745,637
Reduction of interest rate below market
Summary of troubled debt restructured loans
Number of TDRs | item	50	50
Recorded Investment | $	$ 1,693,010	$ 1,788,748
Operating | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	11	6
Recorded Investment | $	$ 217,108	$ 124,390
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	10	5
Recorded Investment | $	$ 177,272	$ 76,088
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 | $	$ 39,836	$ 48,302
Real Estate | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	1	2
Recorded Investment | $	$ 643,226	$ 103,462
Real Estate | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	7	7
Recorded Investment | $	$ 775,731	$ 732,633
Real Estate | Extension of maturity | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	1	2
Recorded Investment | $	$ 643,226	$ 103,462
Real Estate | Extension of maturity | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item	7	7
Recorded Investment | $	$ 775,731	$ 732,633
1 - 4 family | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	76	84
Recorded Investment | $	$ 3,008,506	$ 3,491,926
1 - 4 family | Extension of maturity | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	28	36
Recorded Investment | $	$ 1,370,885	$ 1,769,362
1 - 4 family | Reduction of interest rate below market | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	48	48
Recorded Investment | $	$ 1,637,621	$ 1,722,564
Consumer - Home equity and lines of credit | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	3	5
Recorded Investment | $	$ 23,434	$ 77,218
Consumer - Home equity and lines of credit | Extension of maturity | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	2	4
Recorded Investment | $	$ 7,881	$ 59,336
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	1
Recorded Investment | $	$ 15,553	$ 17,882
Consumer - Personal | Other
Summary of troubled debt restructured loans
Number of TDRs | item		1
Recorded Investment | $		$ 3,756
Consumer - Personal | Extension of maturity | Other
Summary of troubled debt restructured loans
Number of TDRs | item		1
Recorded Investment | $		$ 3,756

Loans - TDRs-By Type Of Concess

Loans - TDRs-By Type Of Concession (Details)	12 Months Ended
	Jun. 30, 2017USD ($)item	Jun. 30, 2016USD ($)item
Summary of troubled debt restructured loans
Number of TDRs | item	5	12
Recorded Investment | $	$ 849,220	$ 818,131
Extension of maturity
Summary of troubled debt restructured loans
Number of TDRs | item	5	12
Recorded Investment | $	$ 849,220	$ 818,131
Operating | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	3	2
Recorded Investment | $	$ 77,919	$ 65,085
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	3	2
Recorded Investment | $	$ 77,919	$ 65,085
Operating | Extension of maturity | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item		1
Recorded Investment | $		$ 1,000
Real Estate | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	1
Recorded Investment | $	$ 643,226
Real Estate | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item		6
Recorded Investment | $		$ 483,556
Real Estate | Extension of maturity | Commercial
Summary of troubled debt restructured loans
Number of TDRs | item	1
Recorded Investment | $	$ 643,226
Real Estate | Extension of maturity | Agricultural
Summary of troubled debt restructured loans
Number of TDRs | item		6
Recorded Investment | $		$ 483,556
1 - 4 family | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	1	3
Recorded Investment | $	$ 128,075	$ 268,490
1 - 4 family | Extension of maturity | Residential
Summary of troubled debt restructured loans
Number of TDRs | item	1	3
Recorded Investment | $	$ 128,075	$ 268,490

Loan Servicing (Details)

Loan Servicing (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Loan Servicing
Principal amount outstanding on loans serviced for others	$ 112,128,000	$ 100,745,000
Proceeds from sale of loans	33,721,173	28,507,437
Other assets
Loan Servicing
Servicing Asset	853,000	701,000
Fixed rate | 1 - 4 family | Residential
Loan Servicing
Proceeds from sale of loans	33,721,000	28,507,000
Pre-tax gain on sale of loans	856,000	750,000
Conventional loan | Federal Home Loan Bank
Loan Servicing
Principal amount outstanding of loans originated and sold in Mortgage Partnership Finance ("MPF") Program	26,882,089	20,078,590
Possible credit enhancement losses cap on loans originated and sold in Mortgage Partnership Finance ("MPF") Program	583,203	1,035,414
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, 2017	Jun. 30, 2016
Interest Receivable	$ 1,297,908	$ 1,147,467
Securities
Interest Receivable	5,373	3,259
Loans
Interest Receivable	$ 1,292,535	$ 1,144,208

Premises and Equipment, Net (De

Premises and Equipment, Net (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 10,335,315	$ 10,063,160
Less accumulated depreciation	(4,910,460)	(4,788,699)
Total premises and equipment, net	5,424,855	5,274,461
Land and land improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,485,458	1,337,723
Buildings and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	7,038,547	6,923,640
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,282,315	1,252,015
Computer equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	471,979	492,766
Vehicles
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 57,016	$ 57,016

Deposits (Details)

Deposits (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Noninterest-bearing deposits	$ 29,546,051	$ 24,296,166
Interest-bearing NOW	49,252,671	42,734,473
Money market	67,039,151	60,352,403
Savings	17,104,400	14,869,638
Certificates of deposit	46,116,043	44,709,672
Total deposits	209,058,316	186,962,352
Certificates of deposit
Certificates of deposit of $250,000 or more	$ 4,737,000	$ 3,866,000

Deposits - Scheduled maturities

Deposits - Scheduled maturities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Scheduled maturities of certificates of deposit:
2,018	$ 21,990,649
2,019	13,386,469
2,020	6,041,736
2,021	1,445,231
2022 and beyond	3,251,958
Total certificates of deposit	46,116,043	$ 44,709,672
Interest expense on deposit accounts:
Interest-bearing NOW	186,561	169,242
Money market	477,148	403,825
Savings	38,922	33,941
Certificates of deposit	422,687	436,887
Total interest expense on deposit accounts	$ 1,125,318	$ 1,043,895

Borrowings (Details)

Borrowings (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Federal Home Loan Bank Advances Disclosures
Federal Home Loan Bank Advances, Amount of Available, Unused Funds	$ 35,300,000
Line of credit
Outstanding balance		$ 0
Midwest Independent Bank
Line of credit
Outstanding balance	399,000
Borrowing capacity	4,600,000
Pacific Coast Bankers Bank
Line of credit
Borrowing capacity	4,000,000
Zions Bank
Line of credit
Borrowing capacity	6,000,000
Federal Home Loan Bank of Topeka
Federal Home Loan Bank Advances Disclosures
Loans Pledged as Collateral	61,800,000	49,500,000
Advances outstanding	$ 6,745,400	$ 0
Interest rate	1.24%

Regulatory Matters (Details)

Regulatory Matters (Details) - Equitable Bank - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Compliance with regulatory capital requirements under banking regulations
Total capital (to risk weighted assets), amount	$ 30,893	$ 28,977
Total capital (to risk weighted assets), as a percent	13.20%	14.70%
Tier 1 (core) capital (to risk weighted assets), amount	$ 27,956	$ 26,500
Tier 1 (core) capital (to risk weighted assets), as a percent	11.90%	13.40%
Tier 1 (core) capital (to adjusted total assets), amount	$ 27,956	$ 26,500
Tier 1 (core) capital (to adjusted total assets), as a percent	11.40%	11.60%
Minimum Required for Capital Adequacy Purposes
Total capital (to risk weighted assets), amount	$ 18,740	$ 15,805
Total capital (to risk weighted assets), as a percent	8.00%	8.00%
Tier 1 (core) capital (to risk weighted assets), amount	$ 14,055	$ 11,854
Tier 1 (core) capital (to risk weighted assets), as a percent	6.00%	6.00%
Tier 1 (core) capital (to adjusted total assets), amount	$ 9,806	$ 9,114
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	$ 23,425	$ 19,757
Total capital (to risk weighted assets), as a percent	10.00%	10.00%
Tier 1 (core) capital (to risk weighted assets), amount	$ 18,740	$ 15,805
Tier 1 (core) capital (to risk weighted assets), as a percent	8.00%	8.00%
Tier 1 (core) capital (to adjusted total assets), amount	$ 12,257	$ 11,393
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	$ 27,956	$ 26,500
Tier 1 (core) capital (to risk weighted assets), as a percent	11.90%	13.40%
Minimum Required for Capital Adequacy Purposes
Tier 1 (core) capital (to risk weighted assets), amount	$ 10,541	$ 8,891
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	$ 15,226	$ 12,842
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, 2017	Jun. 30, 2016
Current:
Federal	$ (35,227)	$ (73,021)
State	(83,962)	(72,879)
Deferred:
Federal	(561,635)	(344,906)
Income tax expense	$ (680,824)	$ (490,806)

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
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	$ (651,395)	$ (525,492)
State income taxes, net of federal tax	(55,045)	(48,100)
Return-to-provision, net	24,562	(32,837)
Valuation allowance adjustment		79,000
Other	1,054	36,623
Total income tax expense	(680,824)	(490,806)
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
Unrecognized deferred tax liability amount related to bad debt reserves	$ 0	$ 0

Income Taxes - Net deferred tax

Income Taxes - Net deferred tax assets (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Gross deferred tax assets:
Allowance for loan losses	$ 1,208,020	$ 1,001,980
Net operating loss carryover		530,899
General business credits	324,364	324,364
Foreclosed asset writedowns	50,592	50,592
Unrealized loss on securities	6,393
Other	50,760	245,290
Total gross deferred tax assets	1,640,129	2,153,125
Gross deferred tax liabilities:
Additions in excess of base year loan reserve	(572,404)	(585,334)
Depreciation	(73,623)	(68,425)
FHLB stock dividends	(74,630)	(77,656)
Unrealized gain on securities		(2,100)
Other	(57,463)	(3,517)
Total gross deferred tax liabilities	(778,120)	(737,032)
Net deferred tax asset	862,009	1,416,093
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

Employee Benefit Plans - 401K (

Employee Benefit Plans - 401K (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Employee Benefit Plans
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	$ 121,000	$ 100,000

Employee Benefit Plan - ESOP (D

Employee Benefit Plan - ESOP (Details) - USD ($)	Jul. 08, 2015	Nov. 08, 2005	Jun. 30, 2017	Jun. 30, 2016
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			$ 152,104	$ 105,645
Shares held by the ESOP
Allocated shares (in shares)			86,104	71,803
Shares allocated to be released			7,929	7,932
Unearned ESOP shares (in shares)			134,843	150,700
Total ESOP shares (in shares)			228,876	230,435
Fair value of unearned ESOP shares			$ 1,348,430	$ 1,252,317
Fair value of allocated shares subject to repurchase obligation			$ 815,280	$ 564,723

Employee Benefit Plan - Stock O

Employee Benefit Plan - Stock Options (Details)	12 Months Ended
	Jun. 30, 2017$ / sharesshares
Summary of stock option activity
Options, granted (in shares)	158,653
Options outstanding, ending balance (in shares)	158,653
Weighted average exercise price
Weighted average exercise price, granted (in dollars per share) | $ / shares	$ 9.90
Weighted average exercise price, ending balance (in dollars per share) | $ / shares	$ 9.90
Remaining contractual life (years)
Remaining contractual life of options outstanding	9 years 8 months 12 days
Granted, remaining contractual life	9 years 8 months 12 days
2016 Equity Incentive Plan
Summary of stock option activity
Options outstanding, ending balance (in shares)	63,461

Employee Benefit Plan - Assumpt

Employee Benefit Plan - Assumptions (Details)	12 Months Ended
	Jun. 30, 2017$ / shares
Assumptions
Expected volatility	9.54%
Risk-free interest rate	1.90%
Expected life (in years)	5 years
Exercise price for the stock options	$ 9.90

Employee Benefit Plan - Shares

Employee Benefit Plan - Shares Awarded (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based compensation
Award vesting period	5 years
Number of shares awarded	158,653
Stock options
Share-based compensation
Compensation expense	$ 14,067
Restricted stock
Share-based compensation
Unrecognized compensation costs	$ 670,319
Period for recognizing unrecognized compensation	4 years 3 months 18 days
Compensation expense	$ 100,176	$ 105,645
Service-Based Stock Awards
Non-vested at beginning of the year (in shares)	39,281	43,094
Conversion for stock offering (in shares)		3,907
Granted (in shares)	63,461	4,900
Vested (in shares)	(13,617)	(12,620)
Non-vested at end of the year (in share)	89,125	39,281
Weighted Grant Date Fair Value
Non-vested at beginning of the year (in dollars per share)	$ 4.32	$ 4.02
Granted (in dollars per share)	9.90	8.53
Vested (in dollars per share)	4.32	4.02
Non-vested at end of the year (in dollars per share)	$ 6.97	$ 4.32
2016 Equity Incentive Plan
Share-based compensation
Award vesting period	5 years
Number of shares awarded	63,461
2016 Equity Incentive Plan | Stock options
Share-based compensation
Number of shares authorized	198,316
2016 Equity Incentive Plan | Restricted stock
Share-based compensation
Number of shares authorized	79,326

Earnings per Share - Basic (Det

Earnings per Share - Basic (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Components of basic earnings per share:
Weighted average common shares outstanding	3,299,269	3,264,979
Net income available to common stockholders	$ 1,235,045	$ 1,054,758
Basic earnings per share (in dollars per share)	$ 0.37	$ 0.32

Earnings per Share - Diluted (D

Earnings per Share - Diluted (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Components of diluted earnings per share:
Weighted average common shares outstanding	3,299,269	3,264,979
Dilutive effect of net additional shares from restricted stock awards and stock options	200,289	26,538
Weighted average number of shares outstanding	3,499,558	3,291,517
Net income available to common stockholders	$ 1,235,045	$ 1,054,758
Diluted earnings per share (in dollars per share)	$ 0.35	$ 0.32

Loan Commitments And Other Re73

Loan Commitments And Other Related Activities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Loan Commitments and Other Related Activities
Fixed-rate commitments	$ 24,745,000
Commitments to extend credit
Loan Commitments and Other Related Activities
Contractual or notional amounts of financial instruments wherein contractual amounts represent credit risk	19,271,000	$ 12,486,000
Standby letters of credit
Loan Commitments and Other Related Activities
Contractual or notional amounts of financial instruments wherein contractual amounts represent credit risk	200,000	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	$ 33,227,000	$ 32,370,000

Loan Commitments and Other Re74

Loan Commitments and Other Related Activities - Future commitments (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Future commitments under operating lease
2,018	$ 110,000
2,019	110,000
2,020	110,000
2,021	110,000
2,022	110,000
Rental expense under lease
Rental expense	$ 81,000	$ 89,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
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	1,410,955	664,755
Recurring
Assets:
Securities available-for-sale	1,410,955	664,755
Recurring | Level 2
Assets:
Securities available-for-sale	$ 1,410,955	$ 664,755

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Financial assets:
Cash and due from financial institutions	$ 4,881,007	$ 2,567,296
Securities available-for-sale	1,410,955	664,755
Securities held-to-maturity	745,873	801,114
Federal Home Loan Bank stock	453,400	229,900
Loans, net	236,545,125	198,309,920
Accrued interest receivable	1,297,908	1,147,467
Financial liabilities:
Noninterest-bearing deposits	29,546,051	24,296,166
Interest-bearing deposits	179,512,265	162,666,186
Federal funds purchased	399,000
Federal Home Loan Bank borrowings	6,745,400
Accrued interest payable and other liabilities	820,229	1,198,850
Carrying Amount | Level 1
Financial assets:
Cash and due from financial institutions	4,881,007	14,947,296
Federal Home Loan Bank stock	453,400	229,900
Accrued interest receivable	1,297,908	1,147,467
Financial liabilities:
Accrued interest payable and other liabilities	820,229	1,198,850
Carrying Amount | Level 2
Financial assets:
Securities available-for-sale	1,410,955	664,755
Securities held-to-maturity	735,978	781,740
Loans, net	236,545,125	198,309,920
Mortgage servicing rights	852,715	701,293
Financial liabilities:
Noninterest-bearing deposits	29,546,051	24,296,166
Interest-bearing deposits	179,512,265	162,666,186
Federal Home Loan Bank borrowings	6,745,400
Estimated Fair Value | Level 1
Financial assets:
Cash and due from financial institutions	4,881,000	14,947,000
Federal Home Loan Bank stock	453,000	230,000
Accrued interest receivable	1,298,000	1,147,000
Financial liabilities:
Accrued interest payable and other liabilities	820,000	1,199,000
Estimated Fair Value | Level 2
Financial assets:
Securities available-for-sale	1,411,000	665,000
Securities held-to-maturity	746,000	801,000
Loans, net	232,931,000	198,000,000
Mortgage servicing rights	1,089,000	841,000
Financial liabilities:
Noninterest-bearing deposits	29,546,000	24,296,000
Interest-bearing deposits	185,040,000	$ 170,276,000
Federal Home Loan Bank borrowings	$ 6,745,000

Accumulated Other Comprehensi77

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss)
Unrealized holding gains (losses) on securities available-for-sale	$ (16,034)	$ 6,176
Tax expense	5,452	(2,100)
Total accumulated other comprehensive income (loss)	$ (10,582)	$ 4,076

Transactions with Related Par78

Transactions with Related Parties (Details) - Principal officers, directors, and affiliated entities - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Loans and Leases Receivable, Related Parties [Roll Forward]
Beginning balance	$ 2,723,398	$ 1,310,605
New loans or transfers in	4,133,252	1,552,533
Repayments or transfers out	(1,120,301)	(139,740)
Ending balance	5,736,349	2,723,398
Deposits	$ 1,047,000	$ 364,000

Condensed Financial Informati79

Condensed Financial Information (Holding Company Only) (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Assets
Cash and due from financial institutions	$ 4,881,007	$ 2,567,296
Other assets	2,008,051	1,853,698
Total assets	253,842,488	225,087,177
Liabilities and Stockholders’ Equity
Stockholders' Equity	35,571,303	35,974,086	$ 20,931,210
Total liabilities and stockholders' equity	253,842,488	225,087,177
Equitable Financial MHC
Assets
Cash and due from financial institutions	5,046,023	6,816,101
Investment in Bank	28,547,549	27,153,439
Other assets	2,007,731	2,026,340
Total assets	35,601,303	35,995,880
Liabilities and Stockholders’ Equity
Other liabilities	30,000	21,794
Stockholders' Equity	35,571,303	35,974,086
Total liabilities and stockholders' equity	$ 35,601,303	$ 35,995,880

Condensed Financial Informati80

Condensed Financial Information (Holding Company Only) - Statments of Income (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Condensed Statements of Income
Interest income	$ 9,295,577	$ 8,379,514
Income tax benefit	(680,824)	(490,806)
Net income	1,235,045	1,054,758
Comprehensive income	1,220,387	1,062,889
Equitable Financial MHC
Condensed Statements of Income
Interest income	82,092	78,342
Professional fees and other expenses	355,237	445,625
Loss before income tax and equity in undistributed net income of subsidiary	(273,145)	(367,283)
Income tax benefit	115,212	124,876
Loss before equity in undistributed net income of subsidiary	(157,933)	(242,407)
Equity in undistributed net income of subsidiary	1,392,978	1,297,165
Net income	1,235,045	1,054,758
Comprehensive income	$ 1,220,387	$ 1,062,889

Condensed Financial Informati81

Condensed Financial Information (Holding Company Only) - Cash Flow (Details) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net income	$ 1,235,045	$ 1,054,758
Net cash provided by operating activities	2,795,299	3,309,127
Cash Flows from Investing Activities:
Net cash used in investing activities	(40,508,786)	(18,543,526)
Cash Flows From Financing Activities:
ESOP Loan Finance		(951,912)
Stock buyback	(1,638,960)
Net cash provided by financing activities	27,647,198	8,669,042
Decrease in cash and cash equivalents	(10,066,289)	(6,565,357)
Cash and Cash Equivalents:
Beginning	14,947,296	21,512,653
Ending	4,881,007	14,947,296
Equitable Financial MHC
Cash Flows from Operating Activities:
Net income	1,235,045	1,054,758
Items not providing cash	(1,366,163)	(1,168,812)
Net cash provided by operating activities	(131,118)	(114,054)
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)
Stock buyback	(1,638,960)
Proceeds in advance of offering		(2,555,176)
Net cash provided by financing activities	(1,638,960)	(3,507,088)
Decrease in cash and cash equivalents	(1,770,078)	(10,551,142)
Cash and Cash Equivalents:
Beginning	6,816,101	17,367,243
Ending	$ 5,046,023	$ 6,816,101

Stock Buyback (Details)

Stock Buyback (Details) - Common Stock - $ / shares	Oct. 07, 2016	Jun. 30, 2017	May 31, 2017	Apr. 30, 2017	Mar. 31, 2017	Feb. 28, 2017	Jan. 31, 2017	Dec. 31, 2016	Nov. 30, 2016	Jun. 30, 2017	Oct. 31, 2016
Common stock purchased during the period:
Shares purchased		5,431	49,000	5,000	22,200			26,455	60,000	168,086
Average price paid per share		$ 10.17	$ 10.25	$ 10.25	$ 10.25			$ 9.57	$ 9.07	$ 9.72
Stock Repurchase Plan
Common stock purchased during the period:
Current shares outstanding (as a percentage)	5.00%
Shares purchased		168,086	162,655	113,655	108,655	86,455	86,455	86,455	60,000
Maximum number of shares that may yet be purchased		5,771	11,202	60,202	65,202	87,402	87,402	87,402	113,857	5,771	173,857